Mortgage where a low percentage. Which bank is better to take a mortgage: interest rates
Dozens of interesting and not so good offers are being poured onto a modern borrower, which only confuses his choice. And yet, where is it more profitable to take a mortgage? How to find the best solution for yourself if too many are offered? In this article, we will review the mortgage terms of modern Russian banks to help you find the most suitable offer.
About programs
A mortgage loan, in contrast to a consumer loan, involves the surrender of its real estate on bail to the bank before the end of payments. Thus, the lender completely eliminates the risk that the borrower will not pay, because the latter, in case of delays, may lose the apartment.
Mortgage programs can be divided into two types:
- Basic.
- Specialized.
The former are suitable for all people, and the latter are suitable for a certain category (for example, young families, military personnel, applying for state support, and so on). You will read more about this below.
So where is the most profitable to get a mortgage?
The low cost of a loan for many is the main factor when choosing. But each proposal should be studied as carefully as possible, because pitfalls may be hidden behind low cost. So which banks are better to choose for a mortgage?
There are people who trust only reputable financial institutions. They turn to long-standing banks to be calm during a considerable loan repayment period. Indeed, this is correct, because the larger and older the organization, the lower the risk of unforeseen circumstances.
There is another side to the coin - brand new lenders who have not yet had time to “unwind”. To become more popular and earn a reputation, they offer more favorable mortgage conditions that can be saved on, and it is usually much easier to get a loan from them. You need to decide: you want to get a loan with the maximum profitable for yourself, but with a risk, or pay more, but be calm throughout the repayment term.
In what currency to take a mortgage?
The answer is unequivocal: in the one in which you earn.
With down payment or not?
On the one hand, many do not like to pay the down payment and they are looking for organizations where this payment can be avoided. But, on the other hand, without it a much larger overpayment is obtained, and ultimately it is unprofitable.
Please note: it is much more difficult to take a mortgage for a new building than for a secondary real estate.
Location of financial institution
New lenders may not have Internet or mobile banking, and you will have to visit their office regularly to repay the loan. As a result, taking a cheap loan, you are tormented by constantly visiting them in the office and also spend a lot of money on travel (or gasoline). Therefore, before you take a mortgage, make sure that: either the office is next to your apartment, or the lender provides the opportunity to pay via Internet or mobile banking.
What to look for
Soon we will tell you about the mortgage terms of popular banks in the Russian Federation, but first you must know what to look for if you are going to take a loan.
1. Loan amount
Each bank has a fixed amount, which it is ready to provide to the borrower. Therefore, in the search for a financial organization, immediately specify how much money you will receive.
2. Annual interest
Try to find a bank with a low annual percentage to reduce the overpayment. The optimal value is 15%. It’s rare when you can find below, but if you are a regular customer of a large organization, there is a chance that you will be offered more favorable mortgage terms.
3. Down payment
In some banks it can be 10%, and in another - all 40%. The optimal value is 20-30%. On the one hand, a too high installment can be unbearable for a borrower, on the other hand, the lower it is, the higher the risks for a financial institution.
4. Loan term
All loans are issued for a certain number of years. And it turns out like this: the longer the period, the higher the overpayment in the end, but the lower the monthly payment. And vice versa - the shorter the period, the lower the overpayment, but you will have to pay more every month, which may be excessive for some borrowers.
5. Additional costs
These are commissions for the organization’s services, fees for opening a bank account, card issuance, and so on. Moreover, banks require insurance of property and their own lives.
6. Requirements for the borrower
To guarantee getting their money back, financial institutions put forward requirements for borrowers: their age, level of salary, credit history and so on.
Review of the best banks for a mortgage loan
So we got to the main thing - a review of the mortgage terms of modern Russian banks.
For secondary real estate
Almost every bank in the Russian Federation will gladly give out. Therefore, here we will not recommend a specific financial institution. Choose your favorite lender with the most favorable conditions for yourself.
With maternity capital
It is known that maternity capital can pay the down payment, but not every financial institution will agree to this. And the one who agrees will accept the certificate only if you intend to buy secondary real estate. So, the initial contribution with capital can be paid at VTB 24, AHML, Sberbank.
Where no down payment is needed
If earlier it was possible to take a mortgage from many banks without a down payment, now it is not so - the crisis has played a cruel joke. Nevertheless, Sberbank still offers such an opportunity, and if you consider it as an option, then use it.
For young families
Benefits are available to young families, which can be used by some organizations. For example, the same Sberbank offers its customers under the age of 35 years a low interest rate - from 12.5% \u200b\u200bper year, down payment - 15% of the amount and a long loan period of up to 30 years.
For military personnel
As a rule, the military pays a lower percentage on the loan, but you need to be a member of the funded program in order to get benefits. Today, they work with the military: Sberbank, AHML, Gazprombank and other financial organizations.
For those who are in social categories
If the client is included in the social categories of citizens, it is quite possible for him to apply for more favorable mortgage terms that are offered by: ITB Bank, Russian Mortgage Bank, Rosinterbank and other lenders.
For applicants for state support
A client applying for state support (that is, intending to buy primary real estate) can apply to Moscow Industrial Bank, Sberbank, Globex Bank, VTB 24 and other organizations to apply for a loan at a low rate.
For those who do not belong to a special category, but want to pay small interest
Such people in large financial institutions such as Sberbank, Bank of Moscow, Russian Agricultural Bank, VTB and so on.
More about conditions
Let's look at what conditions are offered by the largest banks of the Russian Federation today.
Sberbank
Sberbank has long been in mortgage lending, so here you can easily get 300 thousand rubles for up to 30 years. At the same time, no more than 80% of the property is covered. There is a down payment, but it is quite small - only 20%.
VTB 24
In this organization, the conditions are similar to Sberbank, but there is a top bar - you can not take a loan worth more than three million rubles.
Interest rate
Many dream to buy an apartment, but not everyone can afford to spend such a tangible amount of money right away. There is often only one way out in this situation - to take a mortgage loan. Many cannot decide on such a crucial step, realizing that such a loan will have to be paid for a very long time. Nevertheless, subject to several rules, as well as careful selection of the bank, you can move to your own apartment without significant problems.
How to take a mortgage loan correctly and profitably
The decision to buy an apartment on a mortgage for many becomes the most important thing in life. At the same time, I really want the loan to be as profitable as possible and not become bondage.
How to get a mortgage loan? This question inevitably arises among potential borrowers. In fact, there are several important rules, the observance of which will help make the purchase of an apartment a joyful event and will not allow the registration of a mortgage to ruin the life of the borrower.
- Before you get a mortgage, you should evaluate your capabilities. It is advisable that monthly payments do not exceed one third of the family budget. If you don’t follow this rule, pulling a mortgage can be very difficult.
- It is best to improve housing conditions gradually. In this case, the payment amount will be lower. In addition, it will be possible to pay the mortgage faster, and if you want to buy a bigger apartment in the future, you can get a loan under more favorable conditions.
- It is not enough just to take a mortgage loan from a bank. Monthly payments should be made on time. Maximizing your family budget will help create an airbag. Ideally, it should be about three monthly payments. This will help pay the mortgage even in case of temporary difficulties. When the “nest egg” is created, it is possible to begin partially early cancellation. This will save on interest payments.
The minimum overpayment can be achieved not only when the best conditions for a mortgage loan are selected. It is important to buy an apartment when there is a drop in the market. In this case, you should carefully study the forecasts of specialists.
The best banks for a mortgage loan
With the design of a mortgage do not rush. Before making a decision, you should carefully read the proposals of various credit organizations. To understand where it is better to take a mortgage loan. In this case, one should take into account not only the size of the interest rate, but also other conditions:
- The presence of additional commissions, insurance and payments.
- Terms of early cancellation (including partial).
- Down payment amount. Immediately, it is rather difficult to get a mortgage loan without an initial payment in 2019, because for the bank these are big risks. As a rule, the first installment on such loans starts at 10 percent. If you do not have a down payment for buying an apartment on credit, pay attention to banks, where you can get a consumer loan for any purpose. The money received can be sent to the down payment on the mortgage.
A large number of offers on the market often leads to potential borrowers becoming confused and confused. A huge number of attractive advertising slogans can be completely misleading. Therefore, it will be useful to select specialists in the TOP-5 best banks for a mortgage loan.
Favorable mortgage loan online through the Tinkoff service. Mortgage
He proposes to consider the proposals of several banks on loans for the purchase of an apartment. In this case, the frightening thought of the need to run around the offices of various credit organizations can be left. An online application for a mortgage through the Tinkoff website allows you to shift all the problems of sending documents to the bank to a personal manager.
After filling out the questionnaire on the Tinkoff Bank website, your application will be considered by several partner banks at once. After approval, it remains only to choose the best bank for a mortgage from the proposed list. Moreover, when applying for a loan through Tinkoff, you can get a discount on interest rates up to 1.5%. Given the large amount and duration of the loan, this is quite a tangible savings.
Currently, the minimum mortgage rate for an apartment in a new building starts at only 6% per annum. The maximum term is 25 years and the loan amount is up to 100 million rubles. it is very important that not only company employees, but also entrepreneurs of the IP can leave a request for a mortgage through the service.
Mortgage loan with bad credit history at BJF Bank
Anyone can apply for a mortgage loan at the Housing Finance Bank. Moreover, as the bank says, even borrowers with bad credit history in the past can get a loan. The main thing is that at the time of filing the application there should be no current overdue payments on loans in other banks. This is one of the few banks where you can get a mortgage loan without failure due to poor credit history in the past. The BJF statistics show that the bank approves 82% of the submitted mortgage applications. This is a very high rate!
In addition, a mortgage loan at BJF has the following advantages:
- Mortgage on 2 documents (passport and second document - SNILS, TIN driver's license).
- There is a mortgage program that allows you to get a loan without information on the day of treatment.
- Official confirmation of income, reduces the interest rate and increases the lending limit.
- The transaction and the apartment are completed in no more than 3 days.
- A mortgage loan is issued directly from the bank, without the participation of agents, intermediaries and commissions.
- Important! Residents of the following cities can apply for a mortgage online: Moscow and the region, St. Petersburg and the Leningrad region, Volgograd, Yekaterinburg, Kazan, Krasnodar, Krasnoyarsk, Nizhny Novgorod, Saratov, Novorossiysk, Novosibirsk, Omsk.
Favorable mortgage terms from Otkritie Bank
When deciding which bank to obtain a mortgage loan from, you should not disregard Otkritie Bank. The conditions for mortgage lending are pretty loyal here. The client is offered several interesting programs to choose from, depending on the needs of the borrower:
- Buying an apartment in a new building.
- Buying an apartment in the secondary market.
- Mortgage refinancing of other banks.
- Military mortgage.
- Real estate under maternity capital.
- Mortgage loans for the purchase of large apartments.
The interest rate at Otkrytie Bank is determined by the mortgage program for which the loan was issued. A minimum percentage of 8.9% can be expected when buying an apartment in a new building or a military mortgage. Other features include a down payment of 10% and a maximum term of 30 years.
Mortgage loan is beneficial with state support from VTB Bank
- The interest rate here starts at 10.2%.
- The down payment is less than in many other banks - 10%.
- Possibility of registration without advance payment for maternity capital.
In addition, the Bank has a program “Mortgage loan with state support”. The program involves preferential lending to a family with a second or third child born on 01/01/2018. For a certain period, a preferential rate of 6% is established with an initial payment of 20%. Agree that this is beneficial?
There is also an interesting program “More meters - lower rate” when buying an apartment from 65 square meters. meters. That is, the larger the apartment, the lower the interest rate.
Mortgage lending for the construction or purchase of a country house from Sberbank
The largest bank in the country - Sberbank, is also very active in the mortgage lending market. The bank willingly lends to both developers themselves and borrowers who want an apartment with a mortgage. Moreover, even pensioners can apply for a mortgage loan, but on condition that the loan is repaid up to 75 years of the borrower.
As in other banks, it offers a mortgage loan with state support for families with children; mortgage for new buildings and secondary housing; military mortgage programs; mortgage using matkapital. There are also programs that can not always be found in other banks. This is a mortgage loan for the construction of a residential building, as well as a mortgage loan for the purchase or construction of suburban real estate (private house, garden plot, etc.).
Experts say that interest in mortgage lending in 2019 will not be less. Most likely, it will only grow. With the right attitude towards such loans, a mortgage will bring only the joy of moving to new housing. At the same time, you should not take a loan in the first available bank. It is important to figure out where it is more profitable to take a mortgage loan. This will help save the lion's share of the family budget.
P / S before you take a mortgage, be sure to look at the "5 rules for a comfortable mortgage"
When a young family or one person is going to take a mortgage, they, of course, begin to look for the most profitable options. And the majority will start to choose from those banks where the lowest interest on the mortgage takes place. Indeed, the interest rate plays an important role when the financial resources of the borrower are seriously limited (and they are considered limited by default).
The total amount of loans issued as the main criterion
However, in banking statistics itself, the determining factor is not at all the amount of annual interest, but the amount of loans issued in cash and the number of borrowers of the bank. In principle, this approach is not unfounded. If a significant number of people seek to take a mortgage in this financial institution, then perhaps this bank actually offers the most favorable conditions. Or he has the largest variety of loan conditions.
According to data for 2015, Sberbank became the absolute leader in the list of all banks in Russia. For the first half of last year alone, he issued a huge amount of 304 billion 302 million rubles to borrowers in the mortgage sector. According to this criterion (the amount of money issued), you can create such a rating table.
Name of the bank | The total amount of money issued for mortgage lending in the first decade of 2015, billion rubles |
Sberbank | |
DeltaCredit | |
Bank of Moscow | |
Russian Agricultural Bank | |
Gazprombank | |
St. Petersburg | |
Housing finance | |
Rebirth |
The size of the clientele is the second criterion
But does this mean that you need to immediately run to Sberbank for the coveted, cheap and profitable mortgage? Or then which bank is more profitable to take housing in a mortgage? The fact is that the rate is far from the only criterion, and it is connected with other lending conditions. Moreover, the sum of money itself does not say anything about the number of customers, nor about their, so to speak, material status. It happens that a large amount consists of many small mortgages (0.5-1 million rubles).
And it happens that the same amount forms a much smaller number of larger loans (more than 2 million rubles). Thus, if, hypothetically, two banks have approximately the same rating relative to the volume of issued funds, then their clientele may be completely different. In one go people for whom a loan of 1 million rubles is the ceiling. They will not pull the purchase of a more expensive option. In another are those who can afford to take from the bank and 2.5 million rubles. Only the former will be the majority, and the latter the minority. And the total sums at the exit of the two banks will be the same.
Of course, such pure segregation does not happen - any bank deals with a wide range of people. This example was given only to show how uninformative a single criterion is. Therefore, the second important criterion is the size of the bank's clientele in a certain segment of its activities. Sberbank also has very high rates.
Interest rate and terms of mortgage lending at Sberbank
The organization distributed the above 304.302 billion rubles among 198 thousand borrowers. The bank itself claims that such indicators once again proved its status as a “people's” bank of the Russian Federation. Indeed, the purchase and purchase of residential real estate in a mortgage according to statistical reports for a significant part of the population passes through this bank.
It is worth considering a complete list of the main conditions of mortgage loans in this institution. So:
- The minimum loan amount is 300 thousand rubles.
- The annual interest rate is from 11.4% to 13.5%.
- The term of a mortgage loan is from a year to 30 years.
- - 20% of the cost of housing purchased.
- You can take on credit real estate in the secondary market and housing under construction.
For those who are not in the know. The listed conditions of bank mortgage lending are either minimal or parametric (for example, terms). And they are not interconnected. In this case, at least 11.4% is the minimum rate, for a minimum loan (300 thousand rubles), the rate will be higher. If you look at the key criterion, the interest rate, then in Sberbank it is a middle peasant. There are many banks where the rate is higher. But there are many who offer a really low rate. In Sberbank, buying an apartment on credit at an annual rate of 11.5% is a rarity.
In 75% of all mortgage loans, this beneficiary offers 12.5% \u200b\u200bor 13%. Moreover, Sberbank in practice has long been an unofficial branch of the Central Bank of the Russian Federation. He works closely with all government programs, and this allows to reduce the rate. When housing is being built with state participation, for the bank this is a guarantee that the developer will complete the declared project. No wonder when the builder is a state organization, interest rates are very small.
And when the developer is a private enterprise, the situation becomes exactly the opposite - the financial institution is very bullied by annual interest on such a housing under construction. In order to cover losses in case of bankruptcy of the developer. Most likely, Sberbank owes its first place in the ranking of loans to government programs. Since there are conditions that may not suit many customers. First of all, a relatively high down payment.
Betting at some other banks
Russian Agricultural Bank in general is a fully state financial organization. In the presented rating list, he took a place in the middle. Why did the same Sberbank get around it so much, although the Agricultural Bank also means buying mortgages and second-hand housing and turnkey housing? The point here is not only the scale of the enterprise (Sberbank has the largest number of branches in Russia), but also the higher interest rate.
With the best offer, the rate is 13.5%, but it applies only to short-term loans (up to 5 years) and with a large down payment (over 50%). Although this bank has proposals where the down payment is only 15%, but, of course, the rate there will be high (15-17%).
A few words about Tinkoff
It is curious that in the country there are a huge number of banks that are not included in the official rating list, but at the same time have amazingly low interest rates. For example, Tinkoff Bank, where customers can take a mortgage at 10.5% per annum. For Russia, this is really a very low rate. At the same time, according to other criteria, Tinkoff is no worse than Sberbank:
- minimum loan - 300 thousand rubles;
- minimum down payment - 20%;
- loan terms - from 1 year to 30 years;
- bank cooperation with many government programs.
What is the matter? Why then did Tinkoff not even make it to the last line of the above table in terms of loan volumes in the mortgage program for 2015. A definite answer cannot be given here. A bank is a complex financial structure. Its ups and downs are determined by a whole range of factors both in the domestic and international markets. Yes, even elementary literate advertising and PR play an important role, which makes the purchase of credit housing more attractive.
Are low interest rates so beneficial?
However, this article should be said about this. Tinkoff may also rise in the ranking list, since in the initial analysis his conditions are really quite good. However, borrowers should be aware that low interest rates are often “free cheese in a mousetrap” (and even then not completely free). For example, an additional condition may be a very large down payment (up to 75% of the value of residential real estate). It is clear that the Russians, capable of making such a sum of money at a time, are a minority.
Accordingly, despite the democratic rate, such mortgage lending itself can not be called democratic. In other cases, low annual interest may mean some kind of commission (for issuing the loan itself, for example), compulsory insurance of real estate at the expense of the borrower, impossibility of early repayment of debt, etc. There is only one piece of advice here. If the client is faced with such a profitable interest, he needs to sit down and carefully read every word written in the contract.
Including those that are written in small print (especially in small print!). And it is advisable to emphasize in pencil those places where at least some questions arise, so that later in order to sort them all out with a bank employee. Now you can make your own bank rating, not only by the volume of loans issued, but by the size of the proposed interest rates. It is worth taking a couple of dozen well-known banks for comparison.
Rating table of interest rates of different banks
Name of the bank | Minimum mortgage rate (in %) |
Bank Rosgosstrah | |
Soviet Bank | |
Sobinbank | |
Raiffeisen Bank | |
Bank "Revival | |
Russian Agricultural Bank | |
Gazprombank | |
Centercombank | |
Russian capital | |
AKB Investtorgbank | |
Sviaz-Bank | |
Bank Zenit | |
Sberbank | |
Promsvyazbank | |
Absolut Bank | |
Bank of Moscow | |
Bank opening | |
Moscow Industrial Bank | |
Ugra Standard | |
Rosenergobank | |
Bank Interkommerts | |
Tinkoff |
Change of conditions for the last period in some banks
But even this table does not fully reflect the real situation. The problem is that in recent months, some private banks have begun to implement government programs in their activities. For example, Raiffeisen Bank recently had a special offer in the field of mortgage lending. It is associated with state support. As part of this proposal, the bank’s usual rate of 15.25% falls to 11.15%. The Bank Vozrozhdenie did exactly the same, including another in the range of mortgage offers, backed by a government program.
It implies the purchase of exclusively an apartment in a new building, but not with the usual 13.75%, but with 11.25%. Gazprombank also created special projects for those borrowers who need either apartments in new buildings or townhouses. GPB is ready to lower the rate from 12.5% \u200b\u200bto 11% per annum for these clients.
Promsvyazbank offers low annual rates exclusively for new buildings. And the Moscow Industrial Bank agrees on 11% when they take turnkey apartments in a mortgage. Moreover, FOR ALL more or less low rates (i.e., from 10.5% to 12%), the following approximate conditions can be indicated:
- The minimum size of a mortgage is determined in the region of 1.3–1.4 million rubles;
- The minimum monthly payment is 27–28 thousand rubles. That is, no bank will, say, take a mortgage of 500 thousand rubles at 11% per annum.
Interest Rate Determining Factors
So to summarize. Before asking the question “Which bank has the lowest annual interest rate?”, Remember what factors affect its size.
- The amount of a mortgage loan. Usually, with its growth, the rate gradually decreases, but for minimal loans the rates cannot be large either. According to statistics, the highest rates are set for mortgage loans: from 1.7 million rubles to 2 million rubles.
- The size of the down payment. There is a clear, inversely proportional relationship: the higher the contribution, the lower the rate. And vice versa.
- The time taken by the loan. For long periods (over 15 years) the rates should be moderate. For very short (less than 5 years) are also low. They make the highest bets on the most common options - from 5 to 10 years.
- Type of property. The highest rates are when the mortgage is not yet built housing, and the developer is a private company. State participation is always at least a little, but it reduces the rate.
- Presence / absence of a creditor bank card. If a person already has a plastic card of the organization where he was going to take a mortgage, this will greatly facilitate the whole process. After all, this is an additional guarantee. The institution will simply automatically deduct funds from the client's salary card. The level of trust is higher and the rates are lower.
- Small annual mortgage interest may mean a number of other obligations that the borrower will have to make - property valuation, its insurance, commissions, etc.
Knowing all these subtleties will help make the right decision. For after reading this material it should become clear that among the many profitable low rates you must also be able to choose. Often it is better to dwell on the proposal where the rate is slightly higher. But then all the conditions as a whole are much more profitable. The information offered here is aimed at helping a wide range of people to understand the intricacies of Russian mortgage lending and make the acquisition of residential real estate a less complicated and cost-intensive process.
One of the main tasks that the citizens of the Russian Federation set for themselves is the solution of the housing problem. The cost of real estate in the primary and secondary market is constantly growing, especially in large cities. And it is not worth talking about megacities such as Moscow and St. Petersburg, here the prices for only one square meter of housing reach astronomical indicators. But to get your real estate anyway you’ll ever need to, not to bother about your whole life in rented apartments. Which bank is more profitable to take a mortgage to buy an apartment?
Saving up to 20 years for the purchase of your home is a very difficult and time-consuming task, and taking into account the fact that real estate rises in price every year is also useless, because after 10-15 years the amount for which you could buy an apartment today may only be enough for a few square meters. Therefore, if you have already managed to save a certain amount, you have stable work and good income, then it's time to think about buying a property with a mortgage.
With the development of mortgage offers in banks, the proportion of people who can afford to purchase housing has increased. Today, banks offer various types of mortgage programs for their potential customers. Since a mortgage assumes a long-term business relationship between a credit institution and a borrower, it is worthwhile to take great care and responsibility in solving the problem of where to get a mortgage.
Much depends on how much you decide it will be convenient and profitable to pay your mortgage loan. Therefore, the borrower has a completely logical question: "Where to get a mortgage profitable?". Russian banks offer a lot of mortgage solutions. But how not to make a mistake and make a really right and profitable choice? Depends on what exactly to invest in the concept of "profitable."
Where is it more profitable to take a mortgage?
On the one hand, a mortgage is a great way to solve the housing problem, but on the other hand, it is a very responsible step that imposes a lot of burdens and obligations on the borrower. Despite all the pros and cons of a mortgage, in our time it is the only reasonably sound loan. Judge for yourselves: real estate will only rise in price, and paying a loan for a mortgage, you will not only not lose money, but you will also be able to earn money when selling an apartment.
Russian banks are ready to provide a variety of mortgage programs for a period of 1 to 30 years. Natural questions arise, and in which bank loan programs are better, where is it more profitable to take a mortgage, is there a profitable mortgage at all? These issues are especially relevant in large cities where banks have a lot of potential customers, and the competition between lenders and even between consultants in the same bank is quite high. Therefore, it is important to choose the institution with which it is better and more profitable for you to cooperate.
Where is it more profitable and better to take a mortgage? The concept of the word "profitable" is individually for everyone. For example, for someone it is more important to quickly repay the loan so as not to overpay interest. For such borrowers, it is better to take a home loan with a bank that offers a minimum interest rate. However, it is worth saying that all mortgage programs provide for the so-called “annuity option for debt settlement”. This means that the real rate on the loan will be slightly higher than in advertising. Do not forget about the various bank commissions, state registration of insurance and other incidental expenses.
Therefore, deciding to take a mortgage, the most “profitable” one, you need to focus not on the low interest rate advertised in any bank, but rather pay attention to the full cost of the loan. The actual cost of the loan must be calculated at the bank, and provided to the borrower before signing the mortgage, credit and other agreements. Only after a full calculation is it worth considering whether to take a loan from this bank or to look for an offer better.
What to look for when choosing a bank?
There are many significant conditions that should be considered when choosing a creditor bank. When deciding in which financial institution to take a mortgage, pay special attention to the following criteria:
- Minimum down payment Is a very important parameter. Today it is very difficult to find a bank where you can take a mortgage with 10% down payment. Most lending institutions offer a down payment rate of 20% of the value of the property. And some financial institutions generally require 30% of the minimum down payment.
However, not everyone can pay this amount right away. Therefore, if you are limited in funds, then choose a mortgage loan at the bank with a minimum interest rate on the first installment. 10-percent interest rates can be found in Sberbank (“Mortgage for a Young Family” program), Petrokomerts, Admiralteysky, Globeksbank, Metallinvest and others.
- Property Requirements - Another significant criterion. Since the mortgage is taken specifically for the purchase of real estate, it is extremely important to choose the lender who will issue a loan for the purchase of an apartment. That is, you need to choose the bank that, without any problems, will accept the property that the borrower has chosen as collateral.
In the description of the mortgage lending program there is always information about what requirements the bank puts forward to real estate. For example, not every lender agrees to give money for construction or secondary housing. In this regard, the European Trust Bank, My Bank, Pushkino, who agree to issue a loan for a mortgage of secondary housing, are better suited.
- Clearance speed. It is very important for someone to get a loan quickly. However, it is necessary to upset the borrower who wants to do everything quickly, since almost all banks have the same requirements for the package of documents and the time for considering the application from the client, which usually takes about 30 days. And if the potential lender is also the owner of the business, then this is an additional few days.
Of course, lenders can fulfill any whim for your money. For example, to significantly speed up the process, but at the same time the requirements for the minimum down payment will increase to 50%, and the loan rate will double. The most advantageous offer for quick registration of a mortgage and VTB 24.
- Interest rate - one of the most important parameters. The interest rate on the loan determines exactly what amount you will have to pay each month, and how much more you will overpay in the end. Just note: its "lead" on advertising that promises a low interest rate of 7.65% - 8.9%.
As a rule, such a rate is given only for the first year of the loan, and in the second and subsequent years it increases sharply. Therefore, carefully read the contract, and it is better to choose a bank with an average interest rate: from 9% to 12% per annum. Budget option mortgages at VTB-24, Sberbank, ITB, Rosenergo.
- Special programs. Sometimes it is possible that some financial institutions offer certain categories of citizens special concessional lending conditions. Most often, these are state programs and subsidies, such as “Maternity capital for mortgages”, “Mortgages for young families”, etc. Such persons can take out a loan for a mortgage, having received a number of benefits.
For example, Sberbank offers a reduced down payment for a young family. By finding similar preferential programs from other banks, you can save a lot. So, a number of credit organizations such as Pushkino, Admiralteysky, ITB, offer happy parents of their second and subsequent children to use maternity capital to obtain a mortgage. A particular advantage is given to customers who receive wages at the bank in which they wish to apply for a mortgage.
- Amount and loan term. Although the loan amount is not the main priority when choosing a lender, this option will affect the decision of the borrower if the amount of his savings is very limited. The loan term, of course, is very important, because the longer the term, the easier it is to repay the loan, because with a long period the size of monthly payments is much lower than with a short one.
The following banks offer the longest credit terms: ITB, Sberbank, Eurotrust, My Bank, Rosenergo, RIB, AHML - 30 years, VTB-24, Uralsib, Admiralteysky - 20 years. It should be noted that a longer loan term increases the amount of the total overpayment.
Many people, not having enough money to buy an apartment or a private house for cash, turn to the help of banking institutions to get a loan to buy real estate.
The most profitable mortgage in banks in Moscow
Consider the popular offers of banks in Moscow on the mortgage of the current year.
- Leading Russian bank Sberbank offers low mortgage rates. Finished housing in this credit institution will be offered to you at a rate of 10.75% per annum. The bank offers such a low percentage on the condition that you are a young family and you have three or more minor children dependent on you. In this case, the loan is given for a period of 10 years, and the down payment will be more than 50%. If you have less than three children in care, the rate will start from 11.5% per year.
- The Russian Agricultural Bank has the lowest mortgage rate in the city of Moscow under the Mortgage with Government Support program. This is 10.9% per annum for Russian citizens from 21 to 64 years of age, who have documented their income. If the loaned person refuses insurance, the bank will increase the rate by 7%. The loan term is up to 30 years, the advance amount is 20% of the loan cost. Such loans are issued for housing in the secondary market or for residential premises in buildings under construction.
- Promsvyazbank makes an offer with the lowest interest on mortgages in the city of Moscow, which will be 12%. A person must be 21 years old at the time of taking the loan. A loan is provided for a minimum of 3 years.
- Svyaz-Bank offers a favorable mortgage 2019 in Moscow with a rate of 12.25%. At the same time, the advance payment should be 50-90% of the price of the apartment, the loan term is 3-10 years. The borrower must have a salary card of the bank.
- MTS Bank gives loans in Moscow for secondary market housing to applicants who have one or another relationship with this financial institution (they have cards for payments or are employees of Sistema JSFC). Advance payment - 50-85%, 3-10 years of granting a loan. Payments are calculated in equal monthly installments.
- Gazprombank sets the percentage of the annual rate, respectively, the amount of the first payment. 11.5% - if there is a salary card of the specified bank, the first installment is more than 50%. Secondary real estate is taken on credit from Moscow state-owned enterprises.