What is a home mortgage and how to get it? Mortgage lending What is mortgage and how

Recently, more and more often you can hear that the apartment was purchased with a mortgage. Purchase own property all banks on the territory of the Russian Federation offer mortgages today. Consider what a home mortgage is and how to get it. We will pay special attention to what documents will need to be prepared and what products are on the market.

The first step is to figure out what a mortgage is. A mortgage is a type of pledge agreement in which finance company issues funds to the client in order to purchase his own real estate. As for the collateral, it is the apartment for which the bank issues funds. Today, financial companies are actively issuing a mortgage product for the purchase of an apartment, house, or even a share in real estate. It is important to take into account that the acquired property remains in the ownership of the borrower, that is, the buyer. As for the lender, he is the beneficiary in terms of the actual debt under the loan agreement.

Under the law, he has the right to sell the apartment only when the borrower stops paying the payment on schedule. As for the client who purchases housing, he cannot dispose of it at his own discretion, namely, sell, exchange or rent. Until the loan for the apartment is repaid in full, all actions related to the apartment must be coordinated with the financial company.

Who will be given and what is needed for this

Almost everyone who meets the requirements of the bank can apply for a loan for the purchase of an apartment today. At the same time, it is important to take into account that the terms of lending today do not differ significantly.

All banks have a number of requirements:

Age	As far as age is concerned, most banks are ready to cooperate with citizens over the age of 21. It is almost impossible to get a loan from the age of 18. The age limit for obtaining a mortgage is: for women 50-55 years old for men 60-65 years old
Citizenship	In practice, large banks such as Sberbank are ready to cooperate exclusively with persons with Russian citizenship. Some commercial banks are ready to accommodate foreign citizen and provide the required amount of money to buy an apartment.
Income	The presence of a stable income is a prerequisite for obtaining a mortgage. The bank must be confident that the debt will be paid off according to the schedule.
Employment	Each client must be officially employed. At the same time, work experience, in most cases, should not be less than 3 months.
Credit dossier	When applying for a loan, the bank carefully examines not only the client himself, but also his credit history. Only those clients who have a positive history will be able to receive money for the purchase of a house. Banks are not ready to cooperate with borrowed citizens who made numerous delays and violated the terms of the loan agreement.
Pledge	The lender is ready to issue funds only for liquid property, which can be quickly sold and repaid the debt if the terms of the agreement are violated. It will not work to get funds for the purchase of dilapidated or dilapidated housing.
Insurance	Within the framework of the law, the acquired property must be insured against the “structural elements” risk. If necessary, the bank can request title insurance.

Mortgage in Alfa-Bank

Credit limit:

from 60,000 to 50,000,000 rubles.

30 years

from 8.49%

from 21 to 70 years old

Consideration:

Mortgage in the bank Opening

Credit limit:

30 years

from 8.35%

from 21 to 68 years old

Consideration:

Credit limit:

10 years

from 11.9%

from 20 to 85 years old

Consideration:

Cash loan at Loko-Bank

Credit limit:

from 100,000 to 5,000,000 rubles.

7 years

from 10.4%%

from 21 to 68 years old

Consideration:

Documents for individuals

For registration of a mortgage, a list of mandatory documents should be prepared. It should be noted right away that complete list is specified directly at the office of the financial company in which you decided to receive funds.

Standard package of documents:

borrower's passport
the borrower's second document to choose from: SNILS, TIN or driver's license
for men under the age of 27 - military ID
certificate of marriage and birth of children (if any)
a photocopy of the work book, certified by the employer
certificate of income, both in the form of a bank and 2NDFL
certificate confirming another source of income: lease agreement or statement of deposit
borrower questionnaire, filled out according to the lender's form
application for obtaining the required amount, in the form of a bank

It is important to take into account that the bank may additionally request other documents, such as:

Diploma of Higher Education
a certificate from a medical institution, about the state of health

As for the guarantor or co-borrower, he will need to prepare similar documents. Otherwise, the bank may refuse to issue a mortgage on a legal basis.

Documents for individual entrepreneurs

Individual entrepreneurs are citizens who work for themselves. To obtain a mortgage, they should prepare:

borrower's passport
additional identity documents
extract from the state register of entrepreneurs
a declaration that is sent to the tax office for at least the last 12 months
lease agreement, if any
accounts and agreements with partners
business license
other documents confirming the financial stability of an individual entrepreneur

Often, individual entrepreneurs provide documents for personal property, which serves as a guarantee of loan repayment (additional collateral).

Choosing a mortgage loan is an important procedure that should be approached extremely responsibly. The main thing is not to rush and carefully study all the conditions and offers on the market. In order to make the right decision and get a loan for favorable terms, here are some simple tips to take into account.

Compare interest rates

The first thing to start with is studying interest rates in large banks. If you carefully study the proposals, it becomes clear that the rate is in the range of 10 to 15% per annum. If you receive a salary on a bank card, then it is worth clarifying the conditions for obtaining a loan for corporate clients. Banks are often ready to cut the rate for salaries by several points.

Promotions are what all customers love. Very often banks, in order to attract customers, offer to arrange a loan at a minimum rate. However, it should be borne in mind that the lender requires:

make a minimum contribution of 30-40% of the cost of the purchased apartment
buy an insurance policy from their company

It is important to take into account that auction loans are issued for a short period of 5 to 10 years. When agreeing to a deal, you must understand that the mortgage rate will be minimal, but the monthly payment is too high. Additional attention should be paid not to the creditor's interest, but to the conditions for providing money from the developer himself. As a rule, developers cooperate with many financial companies and offer soft loans at a rate of 7 to 10% per year when buying property in a particular house. Since there are many offers, everyone will be able to choose the one that suits him most at the interest rate and other terms of the loan agreement.

Mortgage in Alfa-Bank

Credit limit:

from 60,000 to 50,000,000 rubles.

30 years

from 8.49%

from 21 to 70 years old

Consideration:

Mortgage in the bank Opening

Credit limit:

from 500,000 to 30,000,000 rubles.

30 years

from 8.35%

from 21 to 68 years old

Consideration:

Credit for large amount in Sovcombank

Credit limit:

from 150,000 to 30,000,000 rubles.

10 years

from 11.9%

from 20 to 85 years old

Consideration:

Cash loan at Loko-Bank

Credit limit:

from 100,000 to 5,000,000 rubles.

7 years

from 10.4%%

from 21 to 68 years old

It is important to note that it is the shortening of the term that will be beneficial to the client, who has decided to pay off the mortgage agreement faster.

Commission size

In addition to the interest rate, during registration, you should carefully study the size of all commissions. Some banks include a fee for:

account management and maintenance
various extracts and notifications
making a monthly payment

Due to such commissions, the interest rate may increase by 2-5%. That is why, when registering, it is worth writing a refusal from various additional services or not using the bank's product at all.

Insurance conditions

Under the law, each creditor is obliged to insure the acquired property for only one risk - constructive loss. In this case, the client himself decides in which insurance company to issue protection.

In practice, banks:

include additional risks, such as property insurance, interior decoration (which is often not at all at the time of the loan) and civil liability to third parties
oblige to buy an insurance contract from them, otherwise the rate will be increased by 1-2%

It is important to understand that all conditions are illegal and the client has the right not only to refuse, but also to write a complaint to the Central Bank.

Terms of termination of the contract

You should carefully study the terms of the agreement in advance and understand in which case the bank and the client can terminate the mortgage agreement. As a rule, the client can terminate the agreement only if the bank violates the terms of the agreement, namely, increases the rate after signing, although this right is not provided for by the conditions or will begin to charge additional fees.

The Bank has the right to terminate the agreement if:

upon conclusion, the client provided false information
the borrower does not pay for a long time

In the latter case, the financial company submits for termination if payment has not been received for more than 90 days. The client will be asked to pay off the debt as soon as possible. If this does not happen, then the apartment will be sold, and the debt will be paid off.

How to choose a bank: the most profitable programs

Since the contract is drawn up for a long term, the choice of the lender and the program should be approached extremely responsibly. As for the bank, you should pay attention to:

how much the financial company is on the market
presence of offices and branches throughout the territory of the Russian Federation and abroad
availability of a license
financial performance and awards (information is available on the official portal)

But lending is impossible without serious protection of the interests of the lender. The evolution of lending development has shown that most effectively the interests of the creditor may be protected through the use of real estate collateral, insofar as:

real estate is relatively little subject to the risk of death or sudden disappearance;
the value of real estate tends to grow steadily;
the high value of real estate and the risk of its loss are powerful incentive encouraging the debtor to accurately and timely fulfill his obligations to the creditor.

One of the instruments to protect the interests of creditors through the use of real estate collateral was the mortgage.

Mortgage - concept and essence

The term "mortgage" in legal circulation usually covers two concepts:

Mortgage as a legal relationship- this is a pledge of real estate (land, fixed assets, buildings, housing) for the purpose of obtaining a loan.

Mortgage as a security- means: a debt instrument certifying the rights of the mortgagee to real estate.

Mortgage credit lending- This is lending secured by real estate, that is, lending using a mortgage as security for the repayment of loan funds.

In case of non-repayment of the loan, the lender becomes the owner of the property. Thus, a mortgage is a special form of loan security.

Features of mortgage lending:

a mortgage is a pledge of property;

long-term nature of the mortgage loan (20 - 30 years);
the pledged property for the period of validity of the mortgage remains, as a rule, with the debtor;
only that property which belongs to the mortgagor on the basis of the right of ownership or on the right of economic management can be mortgaged;
the legal basis for mortgage lending is the right of pledge, on the basis of which the mortgage agreement is drawn up and the sale of the property transferred to the lender is carried out;
the development of mortgage lending presupposes the presence of a developed institution for its assessment;
mortgage lending is carried out, as a rule, by specialized mortgage banks.

Participants in the mortgage lending system:

The pledger - physical. or a legal entity that has pledged real estate to secure its debt.
Pledgee (mortgage lender) - a legal entity that issues loans secured by real estate.

Legal framework for mortgage lending in Russia:

the federal law Russian Federation"On the mortgage (mortgage of real estate)" dated 07.16.98;
Federal Law of the Russian Federation "On Valuation Activity in the Russian Federation" dated 07.29.98.

Mortgages are subject to state registration by institutions of justice in the Unified State Register of Rights to Real Estate.

Mortgages and banks

Mortgage banks - specialized banks that carry out long-term lending on secured real estate.

Benefits of mortgage lending for banks:

relatively low risk when issuing loans, since they are secured by real estate;
long-term lending frees banks from private negotiations with clients;
mortgage loans provide the bank with a fairly stable clientele;
Mortgages can be actively traded in the secondary market, which allows the bank to diversify its risk by selling the mortgage after the loan is disbursed.

Disadvantages of mortgage lending for banks:

the need to keep in the staff of narrow professional specialists - real estate appraisers, which are presented as collateral, which increases the bank's costs;
long-term diversion of funds;
the long duration of the term for which the loan is provided is a big threat to the future profit of the bank, since it is very difficult to predict the dynamics of market interest rates for decades to come.

Mortgage lending mechanism

A mortgage is a loan secured by real estate.

The main documents for obtaining a loan, which determine the relationship between the lender and the borrower, are loan agreement and a pledge agreement.

Loan agreement determines the purpose of obtaining a loan, the term and size of the loan, the procedure for issuing and repaying a loan, lending instruments (interest rate, conditions and frequency of its change), conditions of loan insurance, the method and form of checking the security and intended use of the loan, sanctions for misuse and untimely repayment loans, the amount and procedure for paying fines, the procedure for terminating the contract, additional conditions by agreement between the lender and the borrower.

Mortgage agreement determines the form, size and procedure of the loan collateral.

Mortgage collateral

The development of mortgages assumes the existence of specific types valuable papers- mortgage and mortgage bonds.

Mortgage- it legal document on the mortgage (pledge) of a real estate object, which certifies the return of the object as security for obligations under a loan.

The object of the pledge is immovable property that serves as security for the obligations of the borrower. The object of the loan is a specific goal. to achieve which the loan is provided.

Thus, various variants of combinations of the collateral object and the credited object are possible. For example: a loan for the construction of housing secured by a land plot.

Mortgage lending mechanism significantly differs from the mechanism for the formation of credit resources in commercial bank... In developed countries, the bank forms funds for providing loans, mainly by selling embedded sheets and equity capital.

Embedded sheets - these are long-term collateral obligations of the bank, the provision of reliable (or aggregate) mortgage loans, on which a fixed interest is paid.

Mortgages are sold by mortgage banks in the secondary market to investors - other credit institutions (in some countries - to any investor).

The secondary market is the process of buying and selling mortgaged securities issued on the primary market. Providing primary lenders with the opportunity to sell the primary mortgage, and on the income received to provide another loan in the same market is the main task of mortgage capital.

Investments in mortgage sheets are considered to be a reliable investment of capital, because, in addition to a stable interest income, the depositor is guaranteed against risk by a mortgage. Certainly, market price mortgaged property may fall over time, but here banks can offer different hedging options (risk reduction) when selling mortgages.

Having sold the mortgages, the lender uses the proceeds to provide new mortgage loans.

Mortgage loan repayment associated with the term and interest on the mortgages being sold. If the duration of the mortgage bonds is 10 years, and the fixed interest rate is 6.5%, then the loan must be issued at a rate of at least 7% per annum to cover the costs of issuing mortgages and paying interest to investors. The change in the% rate depending on market conditions will occur in 10 years if the term of the mortgage is longer. Repayment is carried out with payment by installments, the interval (month, quarter, half year, annually) is established by the loan agreement.

Mortgage Loan Scheme

Loan balance dynamics

The role of mortgages in the economy

Mortgage lending is an essential element. Reflecting the patterns of development of the world banking industry, it is one of the priority development tools.

Mortgages and crises

World experience shows that mortgage lending has contributed to revival, recovery, overcoming unemployment and, ultimately, getting out of the crisis The United States of America - in the 30s, Canada and Germany - in the 40-50s, Argentina and Chile - in the 70-80s, as well as the acceleration of economic reforms in a number of countries. Certain hopes are pinned on mortgages as a tool for solving the housing problem in Russia.

Mortgage and the real sector of the economy

The development of the mortgage business has a positive effect on the functioning of - industry, construction, Agriculture etc. As world practice shows, the spread of mortgage lending as effective way of financing capital investments can help overcome the investment crisis.

Mortgage and banking system

Mortgage lending is of great importance directly to banking system development country. Mortgages are the most important instrument for ensuring loan repayment. A mortgage lending institution operating within the framework of the mortgage lending system is a relatively stable and profitable entity economic activity... Therefore, the more in banking system such credit institutions, the more stable and efficient its activity in economic system the country as a whole.

Mortgages and social welfare

Mortgage lending, distracting cash from current turnover to domestic accumulation, to some extent helps to reduceinflation.

In modern conditions, the importance of mortgages for. Housing mortgage lending contributes to the provision of citizens with affordable private residential property, being a powerful factor in the class of society.

The relevance of a housing mortgage loan is due to the fact that its use allows you to resolve the contradictions:

between high real estate prices and current incomes of the population;
between money savings of one group economic actors and the need to use them for another.

The absence in our country for 70 years of the institute for real estate and the institute of mortgage led to negative consequences- the experience of organizing mortgage lending both at the level of a credit institution and at the level of the state as a whole has been largely lost.

If earlier almost the only way to improve living conditions was to obtain public housing, today this problem is mainly solved by citizens through the purchase or construction of housing at the expense of their own savings. The limited budgetary resources focused the state's attention on solving the housing problems of only certain groups of the population. However, most of them are currently unable to improve their living conditions due to the lack of necessary savings.

Creation of a mortgage lending system will make the purchase of housing affordable for the bulk of the population; will ensure the relationship between the monetary resources of the population, banks, financial, construction companies and construction industry enterprises, directing funds to the real sector of the economy.

Infrastructure for mortgage lending

The effective functioning of the system of mortgage credit institutions is impossible without the availability of appropriate supporting elements (infrastructure). The specificity of mortgage lending is its close relationship with the appraisal of value, insurance and registration of real estate turnover, as well as with the secondary market for mortgage loans. In this regard, the functioning of the system of mortgage institutions is impossible without the presence in the country of:

systems for registration of real estate turnover;
insurance organizations (companies);
organizations professionally involved in real estate appraisal.

The developed infrastructure of the mortgage lending system ensures the effectiveness of mortgage operations, increasing the protection of the rights of mortgage lending entities.

The topic of mortgages is constantly being heard. But not everyone understands what a mortgage is, and without this knowledge, you can lose not only housing in the future, but also be left without the property you own.

Mortgage: what is it and how to get it

When asked what it is, the answer is this: a mortgage is a form of pledge, when the debtor pledges real estate in his ownership. This is a guarantee of a debt repayment for the lender. This is the essence and precise definition of a mortgage. Knowing what a mortgage for an apartment is, you must understand that in the event of a worsening financial situation or a complete loss of solvency, you can lose your property.

Express in simple words What is a mortgage can be as follows: you sign a mortgage agreement, receive money, pay the lender the amount specified in the agreement on a monthly basis. The real estate that you have pledged falls under the mortgage. You can provide the bank as collateral:

House;
a piece of land;
dacha;
apartment;
other objects.

If the contract is violated by the client, the bank becomes the owner of the property and can sell it so as not to be at a loss. This scheme is the basis of the mortgage market in Russia. The main document that financial institutions are guided by when drawing up mortgage agreements is the law adopted in 1998. It is called “On Mortgage”.

The main characteristics of a mortgage loan:

issue for a long term (5-50 years);
appointment;
relatively low interest rates;
issued in strict accordance with mortgage law.

The subject of the pledge itself belongs to the borrower, but he does not have the right to dispose of it on his own. A credit institution has the authority to use it at its own discretion in the event of problems with debt repayment.

Types of mortgage programs

From what you need to know about mortgages, information about the types of mortgage programs is important:

standard;
social;
"Young family";
for military personnel.

Types of standard mortgages

Banks, competing with each other, offer many programs under a variety of names, reflecting the method of obtaining a mortgage or purpose. Often what is understood as a mortgage in everyday life is money pledged on bail, and it must be returned, otherwise the bank will deprive you of the collateral. The most popular are the following types of mortgages (mortgage loans):

For the purchase of housing in the secondary market. This type attracts with optimal interest rates, relatively short processing time, acceptable for most conditions. It differs from other types by the requirement of compulsory title insurance.
For real estate under construction. Housing can be purchased during the construction phase, but the developer must be approved by the bank. The interest rate is the highest here, but the housing itself is estimated somewhat lower.
For the purchase of a plot of land. The borrower pledges a property of equal value to the bank, and can start new construction on the acquired plot. Until the mortgage is repaid, the financial institution pledges everything that the developer has built on the acquired plot.
For building a house. You can get money on bail if the person has own plot for building. When considering an application, the belonging of the land to a specific category is taken into account. The pledge is a plot, housing being built and other structures located on the ground.
For real estate outside the city. The program provides for the acquisition country house, townhouse or cottage. Usually such housing is located in an ecologically clean area, and proposals are being developed credit institutions together with developers.

Social mortgage

This type of mortgage can count on the poor who are on the waiting list for housing:

young families with two or more children;
families with a disabled person registered before January 1, 2015;
workers of culture, sports, social protection;
veterans;
employees of research centers with state status;
employees of the military-industrial complex.

Social mortgage means that the state provides financial support to borrowers to fulfill their obligations to the bank.

Social loan is subsidized in several ways:

public housing is being sold at a discounted price;
interest on the loan is subsidized;
a subsidy is provided for a portion of the mortgage.

Decision to apply one form or another social mortgage accepted by regional authorities.

Mortgage for a young family

Let's answer the question: what is a mortgage for a young family for housing in Russia? In fact, this is the same social mortgage, but it is intended to provide young families with their own living space. The age limit for attributing newlyweds to this category is up to 35 years. Here, the mortgage conditions themselves are not preferential, and assistance is expressed in the provision of state subsidies and the ability to use maternity capital.

Newlyweds can even take advantage of the standard type of home mortgage lending. If the living space where the family is registered does not meet the minimum permissible standards per person, then there may be a state subsidy. The amount issued varies from 30 to 35% of the standard value of the purchased square meters.

Military mortgage

Contract servicemen who are participants in a special accumulative mortgage lending program designed for the military can apply for this type of mortgage loan. What is a mortgage for the military? Certain amounts are regularly received and indexed into the account of a soldier within the framework of the NIS program. When the term of the contract ends, a person can use the accumulated funds to purchase a home by paying off the down payment or part of the mortgage loan.

A mortgage is issued for a maximum of 25 years. By the end of this period, the army player must be no more than 45 years old. The average interest is about 12.5, the largest amount is 2,400,000 rubles.

Part of the debt can be paid off by maternity capital or through preferential consumer credit received additionally.

Borrowing so much money is not a question that can be resolved spontaneously. We need a balanced approach, maximum responsibility and a clear understanding of what a mortgage is and how to get it with minimal risks:

If you have chosen a credit organization, then collect information about it.
Read all documents carefully.
Make photocopies or shoot documents with your mobile phone camera.
For acquaintance with the contract, come, if not with a lawyer, then at least with a reasonable assistant.
Ask to immediately submit all documents to be signed. That way you can contrast them and read them carefully.

You should not always trust the numbers printed in advertising brochures, it is better to personally find out about the real terms of the loan:

compare interest rates, calculate how much the loan will cost using a mortgage calculator;
find out if there is a possibility early repayment and whether they will take an additional commission for this;
find out what fees are charged for banking transactions;
study all the nuances of the conditions under which insurance is carried out, whether the interest rate will increase if you refuse to insure on voluntary terms;
Read on under what conditions a financial institution takes drastic measures against a borrower due to late payments.

5 basic conditions for obtaining a mortgage loan

Getting a bank loan is not easy. Credit companies have many requirements. Here are the main ones:

Age - starting from 21 years old on the day of receiving the loan and 65 years old at the time full repayment.
Stable work - in last place for at least six months.
Income level - its monthly amount should be 2.5 times greater than the regular monthly contribution. Not only the borrower's earnings are taken into account, but also his family's.
Confirmation of the availability of the amount required for the initial payment. Usually it is from 10 to 30%.
Co-borrowers - are needed when the size of the borrower's income does not satisfy the bank.

What you need to know when taking out a mortgage

Intending to conclude a contract for the purchase of housing on debt, you need to be aware of the advantages and disadvantages. There are 3 key factors for you - size, term, rate. The advantages are expressed in the following:

The issue of housing or other purchase is resolved promptly.
Concessional mortgage agreements are economically beneficial.
Reliable investment of funds, because if real estate is purchased, then it tends to rise in price.

Negative sides of a mortgage:

The owner is limited in rights. Until the debt is paid off, he cannot do anything without the permission of the creditor.
Large overpayment, the initial cost of housing or other object increases almost 2 times at the time of debt repayment.
Pay monthly installments for a long time.
Impossible, for some potential borrowers, requirements from financial institutions.
The constant threat of force majeure, in which real estate can be lost.

Having paid off the debt in full, do not forget to make sure that the bank returns the collateral to you officially in accordance with the agreement.

Is it easy to get approval

Banks do not approve mortgages for the purchase of an apartment for everyone who applies. Housing that is bought with the help of a banking institution by the client is carefully checked and credit history person.

The one who had untimely repaid loans in any credit institution will not receive approval. The presence of outstanding fines or debts to the budget on the part of the applicant will also have a negative effect. It is difficult to get approval with small incomes. Knowing what a home mortgage is, you must have an official source of income. Another mandatory requirement will become the insurance of the apartment.

How to get approval on favorable terms: 3 nuances

The nuances of obtaining a mortgage for housing in different banks are not the same. The conditions for granting a mortgage loan are also:

some banks provide loans on favorable terms for the purchase of housing for certain developers;
the interest on the mortgage with a large down payment will become much lower;
lending conditions will be more favorable for the bank's clients (who receive a salary on the card).

What documents do you need?

When applying for a mortgage, it is important to know what it is, but it is equally important to understand what documents will be needed. The basic list of documents for obtaining a mortgage loan looks like this:

Statement. It can be filled out both on the spot at a bank branch or in advance by downloading it from the official website of the credit institution.
Bank profile - it will look different for different banks.
A copy of the applicant's passport (for verification, you will need to present the original).
Copy of TIN certificate.
A photocopy of SNILS (certificate of pension insurance in the form of a green laminated card).
For men of military age - a copy of the military ID.
If the applicant is married - documents confirming this, as well as a marriage contract, if any.
Birth certificates of children, if any.
Applicant's educational documents - diplomas, certificates and so on.
Papers confirming the level of income at the place of work and from other sources - alimony, funds from renting real estate, financial assistance, etc.

A rare bank is limited to such a modest list. As a rule, something else is added to it, which is necessary for a mortgage, which means that additional paper will increase the chances of obtaining a loan.

Possible options:

Passports of all immediate family members, death certificates for those who have already passed away.
Copies of pension certificates and certificate of size pension payments disabled elderly relatives (parents, grandparents).
Certificate from the passport office about registration at the place of residence.

The presence of any valuable property (other real estate, a car or other vehicle, etc.) will be a great advantage, increasing the likelihood of a mortgage being approved for the required amount. So, the already extensive list of papers should include documents confirming the right of ownership of such property - a certificate of ownership, a sale and purchase agreement, extracts from the relevant registers, and so on. If you have accounts with other banks, you will need to provide statements of the movement of funds on them.

Certain credit institutions may request payment checks utilities at the current place of residence to assess the solvency and reliability of the client. For entrepreneurs, statutory documents of their enterprises, accounting statements and other papers are added to the list, confirming that the business is profitable and is developing quite steadily.

If the maternity capital funds will be used for the first installment or payment of a part of the loan, then a certificate for it will be added to the list of documents. In addition, you will need to get at the department The Pension Fund certificate, where the balance of this capital will be indicated.

Terms, interest and other nuances

When making out a mortgage for an apartment, it is important to remember that there is an age limit for obtaining it. They will definitely not give a loan for housing to someone who has not reached the age of 21. The age limit for mortgage approval varies. The mortgage loan for the purchase of a house or apartment is long-term and can be repaid over a period of 30 years. The bank takes into account the provision of the client with funds to repay liabilities.

The higher, the more favorable the repayment terms will be. When drawing up an agreement, it is important to pay attention to the order of repayment of payments and the ability to pay the amount of debt ahead of schedule. The possibility of using a deferred payment and the conditions for its provision are immediately discussed.

Partially liabilities to the bank can be repaid at the expense of maternity capital. Special conditions for granting loans and for military personnel.

Thanks to state support interest on the purchase of an apartment in new buildings is lower than for housing on the secondary market. This is also worth considering. Such a mortgage in simple words will have more favorable and attractive terms.

It should always be remembered that the refusal of approval from one of the banks does not mean that it is impossible to obtain a loan from another. You can apply for approval to several banks, choosing the best option for yourself in the end. The desire to have your own corner can become a reality. The main thing is to approach the choice wisely, armed with all the necessary information, understanding what it is - a mortgage - and how to competently work with it.

A mortgage in simple words is a loan, the main feature of which is the mortgage of real estate owned by the debtor. Under the terms of the mortgage loan, if the borrower is unable to return within the agreed terms of the specified sum of money, the creditor will be able to legally realize the pledged property and pay off the existing debt.

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Mortgage is a loan secured by real estate.

Mortgage in simple words

In mortgage lending, the role of the lender is played by the bank, which issues money to the borrower for the purchase of real estate, which at the same time falls under the pledge until the debtor fully fulfills his guarantees. The purchased housing automatically becomes a kind of guarantor that the client will repay his debt on time.

Immovable property is:

land plot,
apartment,
House,
and any other building mentioned in the list of the Mortgage Law.

Mortgage allows you to purchase personal square meters for living on the condition of a pledge of this property. The borrower can live in the apartment, enjoy all the benefits provided, but for many years he is obliged to pay the bank a specific amount on a monthly basis, established by the agreement and consisting of interest and the loan body. If the user at any of the payment stages is deprived of the opportunity to fulfill their obligations, he / she will be deprived of housing, because The lender has every right to sell the mortgaged housing in order to pay off the loan debt.

What is the essence, what does a mortgage mean, why is it worth taking, what to fear?

When registering a mortgage, a kind of netting takes place. The home seller helps out the money for it, and the buyer gets his desired square meters at his personal disposal.
The exception is shared construction. Here, a mortgage is a monetary contribution to a certain building cooperative, providing for the transfer of money to third parties for an apartment or housing construction, which does not yet exist. Before making such a deal, the lender, working with the insurance company, finds out how legally safe the deal is. Therefore, when purchasing housing in a new building on a mortgage, the buyer does not remain alone with the seller, professional support is guaranteed in the person of the bank.

There are some simple tips that any potential borrower should follow:

It is best to use the services of trusted, well-known banks.
It is worth paying special attention to the terms of lending. The main thing is the size of the interest rate.
It is recommended to simultaneously submit an application to different banks in order to choose the most appropriate option.
The borrower must first understand several concepts, including learning to distinguish an advance from a down payment, i.e. understand the legal difference between them.

It is important not only to know what a mortgage is, but also how to arrange it with minimal risk to your personal well-being.

Borrower requirements

Work experience requirements

To apply for a mortgage, you must have a combined work experience of at least one year. You also need to work continuously and officially for the last 6 months. The more seniority in one place, the higher the chances of a mortgage being approved. Any banking organization regards this fact as a guarantee of uninterrupted payment of monthly payments. The activity, the position held, the reputation of the company where the borrower works is of great importance.

Basic age requirements

Priority is given to people between the ages of 30 and 35. According to the rules, mortgages are available for men aged 20-60 years, and for women 20-55 years old. The borrower must be a maximum of 75 years old at the time of loan repayment.

Criteria for assessing the client's solvency

A big plus will be the presence of a high stable income. Many banks go to meet clients and accept from the borrower free sample applications from the manager and chief accountant about the actual salary.

Banks also pay attention to the social status of the borrower, i.e. whether he has a car, apartment, land plot or any other property. Additional income also provides a significant plus.

The down payment plays an important role. The higher the amount that the client is willing to contribute as a down payment, the more likely the mortgage will be approved. His minimum size ranges from 10% to 30% for banks.

After receiving mortgage approval, you must take out life and disability insurance. You need to insure yourself annually until the full repayment of the loan.

Because of what they refuse to apply for a mortgage

Basically, the reasons for refusal are as follows:

Low official income. Many banking organizations do not account for officially unconfirmed income.
False Information: If the information collected is found to be untrue, the bank will most likely refuse.
Bad credit history.
A potential borrower has a criminal record, and not an important one.

Banking organizations are very strict about the verification procedure potential client... Everything is explained by the fact that the loan has been repaid for more than a dozen years.

What you need to get a mortgage

Once you find out that the bank has approved your mortgage application, you start thinking about choosing a home. It is not recommended to spend too much time on this, because approval of your term.

To draw up a mortgage agreement, you need to collect a large package of documentation, namely:

Legal papers for the housing you are about to purchase.
The plan, as well as the technical passport of the apartment.
Forms No. 9 and No. 7.
Proof of absence communal debt in this apartment.
A document confirming the absence of any encumbrances.
To register children under the age of majority, you need permission from the guardianship and guardianship service.

How to split a mortgage in case of divorce

When buying a married apartment, real estate is considered joint property. When divorced, she is divided in half. The mortgage debt is divided equally, and it does not matter for whom the loan was issued.

In this case, the bank must agree to the division of the acquired property and the loan agreement. If the apartment is one-room, then the bank may not agree to the partition, because the apartment cannot be reissued as a pledge. In this case, the person who issued it will pay the mortgage loan.

Answering the question what is a mortgage, we considered all the main points of mortgage lending. Before committing to repaying this loan, it is important to understand all the nuances and risks.

What is a mortgage and how does it work

Good day, dear readers! Already do not count the number of people who applied for a loan to buy real estate.

And this is natural, because each of us would like to have our own roof over our heads. Inga and Victor come to us more often than others.

They have already looked through all the possible options and nevertheless decided to use the help of the bank. It remains only to solve minor issues, after which they will have their own housing. Want to know what a mortgage is and how it works? Now I will paint everything for you in detail.

What is mortgage

Mortgage has been a buzzword for decades, but many people still do not know exactly what a mortgage is and how it works.

A mortgage is a certain form of collateral when real estate owned by the debtor is mortgaged.

Warning!

The conditions of the mortgage pledge are that if the debtor fails to pay the amounts stipulated in the loan agreement, the creditor has the right to sell the pledged property and get money for this to pay off credit debt... In other words, a mortgage is a pledge of any real estate.

It is necessary to distinguish between the concept of "mortgage" and "mortgage lending". In mortgage lending, the bank acts as the lender, it lends, that is, gives money to the debtor for the purchase of real estate, at the same time this real estate is secured, that is, under a mortgage as a guarantee of debt repayment.

Among the real estate that can act as a pledge (mortgage) can be land plots, residential buildings, apartments, summer cottages, garden houses and any structures. The list of such objects is determined by the corresponding article of the Law on Mortgage.

Asking the question of what a mortgage for housing is and what it gives, it is necessary to turn to the semantic formulation of the concept of "mortgage".

After all, housing is a generalized term for real estate. A mortgage for housing makes it possible to purchase a residential building, apartment, house, become the owner of the acquired housing on the terms of crediting and pledging this property.

You live in a pledged apartment, enjoy all the benefits that living in a purchased apartment or house gives, but over the years you pay the creditor bank a certain amount, namely the loan body and interest.

Provided that at some stage you will not be able to pay off the loan debt, no matter how much the overpayment on the mortgage, taking into account the interest, you will still lose your home, since the bank has the right to sell your home to pay off the loan debt. These are the risks of mortgage lending.

However, it is the mortgage that is the safest and most reliable way to purchase an apartment or any other housing.

By receiving a mortgage loan, you transfer money directly to the seller of the home for a real apartment, which you can see and survey. While contributions to shared construction, contributions to a building cooperative provide for the payment of cash to third parties for an apartment or house that does not yet exist.

Attention!

In addition, before making a sale and purchase transaction on residential property, the bank, together with the insurance company, carefully check legal security transactions, because the bank risks its own money and its own license, which costs a lot of money. Therefore, when buying a home through mortgage lending, you are not left alone with the seller, you have guaranteed support in the person of a credit bank.

Several recommendations when applying for a mortgage. Contact only trusted banks with a good reputation, good reviews. Reviews of where it is profitable to take a mortgage can be read on the Internet, you can ask your friends.

Today, fortunately, such information cannot be hidden, and if you become aware that the bank, in addition to the declared interest rate, takes many more one-time payments when applying for a loan, then this must also be taken into account as personal costs.

Pay attention to the terms of mortgage lending, in particular the interest rate, which determines how much overpayment on the mortgage you have to make.

It is better to contact several banks and consider several various programs home lending in order to choose the most optimal and suitable option for yourself.

Familiarize yourself with some concepts, such as an advance payment and a deposit, in order to understand the legal difference and not get into trouble when buying an apartment and drawing up a sale and purchase agreement, as well as a deposit agreement.

What is mortgage interest rate

The interest rate indicates how much interest on the mortgage you will have to pay from the loan amount, calculated for a certain calendar period - a month, a year. Suppose a bank has granted you a loan in the amount of 2 million rubles at an interest rate of 10% per annum.

This means that in addition to the debt amount of 2 million rubles, you will need to pay 10% of the loan amount per year.

Advice!

Interest rates are:

Fixed
Floating

The fixed interest rate is set once and does not change regardless of the circumstances. With this rate, it is easier to plan loan payments.

The floating interest rate indicates that the bank may reconsider how much interest the debtor will pay on the mortgage.

The loan agreement describes which indicators can affect the change in the interest rate, and this means that over the course of many years of repayment of the loan, the bank has the right to change the interest rate in accordance with certain rules.

Decursive interest rate
Anti-sipative interest rate

The differences between these types of rates are that in the first case, interest is calculated and paid to the bank at the end, simultaneously with the main body of the loan. And in the second case, interest is calculated and paid at the beginning, at the time of the loan, that is, in advance.

A simple example: you take out a loan for 5000 rubles, at 10%. If we consider the method of the decursive rate, then the bank should receive 5500 rubles at the end of the loan term.

Warning!

And when applying for a loan using an antisipative interest rate, at the beginning of the loan, the bank withholds the due interest in the amount of 500 rubles and gives the borrower 4,500 rubles. At the same time, the bank's income is nominally the same, but differs in the time of income generation.

Paying attention to how much interest a mortgage is given, it is also important to be familiar with such concepts of the interest rate as:

Nominal interest rate
Real interest rate

The real interest rate differs from the nominal one in that it is calculated minus the expected amount of inflation. All these and other points need to be clarified when drawing up a loan agreement in order to understand how to pay a mortgage.

What does it mean before registering a mortgage... Many people ask this question: what does it mean before and after registration of a mortgage. It's about interest rates. Until the agreement on home ownership is registered with the FRS, the bank cannot issue a pledge agreement for this housing, and, accordingly, risks more.

The bank's risks are incorporated into the interest rate, namely: before registration with the FRS, the interest rate is higher, and after the presentation of documents from the registration chamber, it decreases.

Who can get

Despite the fairly high rates of mortgage lending, there are a lot of people who want to get a loan with which you can buy a new apartment or house. However, not all banks issue such loans, even under the mortgage of the purchased property. Of course, first of all, citizens are interested in who can get a mortgage.

A mortgage loan can be obtained by citizens of Russia who have permanent registration (residence permit) on the territory of the country. However, recently, banks have begun to practice issuing loans to non-residents.

Who is given preference in the first place, that is, who is provided with a mortgage, what are the requirements for the borrower?

Attention!

Requirements for work experience: basically, your total work experience should not be less than a year and you must work at one place of work for at least six months in order to be able to apply for a mortgage loan. However, preferential opportunities for obtaining a loan are possessed by persons with decent work experience in one place of work. The bank regards this as the stability of income generation.

The profession and the position held, as well as the reputation of the company in which you work, are of some importance.

Age requirements: priority is given to young people between the ages of 30–35. Strictly speaking, mortgage loans are usually granted to men between the ages of 20 and 60 and women from the same age to 55. Among those who are granted a mortgage, there are also persons who at the time of full repayment of the loan will be 75 years old.

Assessment of the borrower's solvency: for this purpose, it is desirable that you have confirmed official income, and quite high. However, here, too, some banks make compromises, taking into account the letters of a free sample from the head of the company signed and signed by the chief accountant about the actual salary of the prospective borrower.

There are certain preferences for people with higher education or a promising profession, but this is not a determining condition for those who can get a mortgage.

The social status of the borrower is also taken into account: whether he has a car, apartment, land plot or any other property, or the presence of additional income.

An important aspect in obtaining a positive response to a loan application is also the amount of the initial payment available.

The higher the down payment that the prospective borrower is willing to pay, the greater the chance of getting approval for the loan. The minimum down payment for most banks ranges from 10-30%.

Advice!

Those who are entitled to a mortgage must be ready to draw up a life and disability insurance contract, which will need to be renewed annually until the loan is repaid.

The personal assessment of a potential borrower is also important: family status indicates certain guarantees of financial stability, since in the presence of close relatives, the likelihood of loan repayment increases.

In addition, there can be several borrowers for one agreement, and surety agreements can also be drawn up, in which the guarantors, as a rule, are relatives.

A person with an unblemished credit history, with a good description at work, with no negative entries in the work book is also the one who can get a mortgage from the bank.

Why mortgage is denied

Analyzing the above requirements for the borrower, you can understand the reasons why the mortgage is refused. Despite the fact that many consider the mortgage an unbearable burden, nevertheless, people who are determined to buy an apartment are extremely unpleasant when they are refused, because a mortgage is one of the few guaranteed ways to equip their own home.

The reasons for refusing a mortgage can be the following:

The official income is too low, and all kinds of irregular and unconfirmed incomes are not taken into account by this particular bank where you applied.
Inaccuracy of the data provided: if you are caught in implausible information, the bank will doubt the ability to pay loan payments in good faith.
Bad credit history is a significant negative factor, according to which a mortgage can be refused for sure.
Any kind of criminal record does not inspire confidence in the bank.

The reasons listed are the main ones. Why the mortgage is denied, the bank usually does not disclose. In recent years, banks have become even more prudent and very closely screen potential borrowers. After all, the loan needs to be paid for tens of years.

What you need for registration

If, after submitting the application, the bank made a positive decision regarding the issuance of a mortgage loan to you, then you will be interested in the question of what to do after the approval of the mortgage.

After obtaining prior consent from the bank, you can safely proceed to the direct search for housing. This is the most troublesome procedure should not take you too much time, because if this procedure is excessively delayed, it is possible that you will need to collect some certificates again.

Ask the bank about the duration of the permit agreement. Further, after the apartment is found, it will be necessary to collect certain documents.

Asking the question of what is needed to obtain a mortgage, you can immediately count on the fact that you will have to collect a rather impressive package of documents:

Title documents for the apartment, which is supposed to be bought.
Technical passport of the apartment with a plan.
Help-form No. 9 on registration of housing and certificate-form No. 7 on the characteristics of housing.
Certificate confirming the absence of arrears in payment of utilities and housing for this apartment.
Extract from the Register of State Registration on the absence of encumbrances on the purchased apartment.
When registering minor children in a purchased apartment, you will need permission from the guardianship and guardianship authorities.

How the mortgage is divided in case of divorce

If an apartment was bought on a mortgage during marriage, then such an apartment is considered jointly acquired property, and, accordingly, is divided in half, regardless of who the loan agreement was drawn up for.

Warning!

Since the apartment is pledged, the bank must agree to the division of property, and, accordingly, the division of the loan agreement. If the apartment is one-room, then due to the fact that the share of the apartment cannot be reissued as a pledge, the bank may not agree and then the one for whom the agreement is drawn up will pay the loan.

If the spouses who are getting divorced executed the loan agreement as co-borrowers, then if one of the former spouses fails to pay the loan amounts, the second spouse bears the obligations.

Expert commentary

Most frequent question, which is asked at consultations - is it worth buying a loan for improvement housing conditions, or as it is commonly called in scientific language - a mortgage. It has its own characteristics, let's try to understand and disseminate information, in which cases it is worth using such an offer, and when it is worth thinking about.

Today, few people can immediately pay one hundred percent of the cost of housing (even in the secondary market), and therefore there was such a legal definition as a mortgage. If you look into the dictionary, then from the Greek language it has a translation "pledge".

Helping you in providing housing, the bank also has an advantage and far-reaching plans, but what can the borrower come to? By purchasing a separate property, you agree to mortgage it.

The bank will achieve the satisfaction of its needs in any case, and the borrower runs the risk of being on the street for non-fulfillment of obligations.

source: http: //site/propertyexperts.ru/ipoteka/48-chto-takoe-ipoteka.html

How mortgage works

Today, mortgages are one of the most common cash loans. A mortgage in simple words is a loan, the main feature of which is the mortgage of real estate owned by the debtor.

According to the terms of the mortgage loan, if the borrower is unable to return a certain amount of money within the agreed terms, the lender will be able to legally sell the pledged property and pay off the existing debt.

Attention!

A mortgage allows you to purchase personal square meters for living on the condition of a pledge of this property. The borrower can live in the apartment, enjoy all the benefits provided, but for many years he is obliged to pay the bank a specific amount on a monthly basis, established by the agreement and consisting of interest and the loan body.

If the user at any of the payment stages is deprived of the opportunity to fulfill their obligations, he / she will be deprived of housing, because The lender has every right to sell the mortgaged housing in order to pay off the loan debt.

When registering a mortgage, a kind of netting takes place. The home seller helps out the money for it, and the buyer gets his desired square meters at his personal disposal.

The exception is shared construction. Here, a mortgage is a monetary contribution to a certain building cooperative, providing for the transfer of money to third parties for an apartment or housing construction, which does not yet exist.

Before making such a deal, the lender, working with the insurance company, finds out how legally safe the deal is. Therefore, when purchasing housing in a new building on a mortgage, the buyer does not remain alone with the seller, professional support is guaranteed in the person of the bank.

Any banking organization regards this fact as a guarantee of uninterrupted payment of monthly payments. The activity, the position held, the reputation of the company where the borrower works is of great importance.

Advice!

Banks also pay attention to the social status of the borrower, i.e. whether he has a car, apartment, land plot or any other property. Additional income also provides a significant plus.

The down payment plays an important role. The higher the amount that the client is willing to contribute as a down payment, the more likely the mortgage will be approved. Its minimum size ranges from 10% to 30% for banks.

After receiving mortgage approval, you must take out life and disability insurance. You need to insure yourself annually until the full repayment of the loan.

Often, developer companies enter into cooperation agreements with various banks. And, as a rule, such agreements become very beneficial for clients. So, for example, thanks to cooperation with various banks, the well-known developer company "Samolet Development" expands the possibilities of customers to purchase high-quality housing in the residential complex "Prigorod Lesnoye".

Among the options for purchasing an apartment on a mortgage, one of the most popular is an offer with a minimum monthly payment of 10,500 rubles.

source: http: //site/vidnoeinform.ru/news/3917

What is Social Mortgage from AHML and how does it work?

Last year in the Russian Federation started federal program"Housing for a Russian family", thanks to which it became possible to buy real estate on average 20% cheaper in comparison with the average market price, but no more than 35 thousand rubles per sq. M. m. At the same time, if funds are still not enough, you can use the "Social mortgage" from AHML.

What it is?

This is a preferential mortgage program, the purpose of which is to help certain social categories of citizens to purchase housing. It is issued for a period of 3 to 30 years at 10.9% per annum. At the same time, the initial payment is only 10% (at least two times lower than the market average), and the amount of the mortgage loan can be increased or part of the debt can be covered at the expense of maternity capital.

Warning!

No registration of any additional insurances- it is enough to insure only the purchased property and the borrower's liability under the loan agreement / loan agreement (if the initial payment was less than 30%).

Another plus of "Social Mortgage" is the opportunity to participate in shared construction, but true, in a certain accredited project. Thus, economy-class real estate for a selected category of citizens becomes even more affordable.

For citizens who apply for the AHML's Social Mortgage for the purchase of real estate under the Housing for a Russian Family program, the cumulative benefit is up to 42% compared to the purchase of housing in a mortgage on market conditions.

The minimum loan amount is 300 thousand rubles, and the maximum amount, with the exception of Moscow, the Moscow region and St. Petersburg, is 3 million rubles.

What can be purchased under the program?

This preferential program can be used when buying both ready-made housing and those under construction, but only from legal entity and in the presence of a DDU. You won't be able to get a loan for building a house on your own or for improving housing according to AHML standards.

Who can use the Social Mortgage?

Participants of the "Housing for a Russian Family" program
Families with two or more children
Employees of the military-industrial complex, provided that this work is the main and general experience in the organizations of the military-industrial complex is at least 1 year
Disabled people and families with disabled children who need to improve their living conditions (registered for improving housing conditions before 01.01.2005)
Residents of damaged houses and houses subject to demolition or reconstruction
Citizens who were registered before March 1, 2005 in need of better housing conditions
War veterans
Participants of the savings and mortgage system housing military personnel
Federal and local government officials state power and self-government, state and municipal institutions of education, health care, culture, social protection, employment of the population, physical culture and sports, scientific organizations with the status of state scientific centers and scientific service organizations, as well as created by state academies of sciences (except for social)
Employees of city-forming enterprises and organizations participating in development programs for pilot innovative territorial clusters

At the same time, the requirements for the borrower are quite loyal: he must be at least 18 years old and not more than 65 years old at the time of the end of the loan term; and also his length of service at the last job must be at least 6 calendar months.

If the borrower - individual entrepreneur, then at the time the loan is issued, its activities must bring income for at least 2 full years.

To date, more than 7 thousand families have already been registered wishing to participate in the program, and more than 80% of them plan to buy housing on a mortgage.

How to participate in the program?

V local authorities management, an application is submitted in which the applicant asks to be included in the list of participants.

The basic list of documents for a social mortgage will also include:

Housing shortage papers
Family Composition Information
Data on main sources of family income and employment
Inquiries from the Bureau of Technical Inventory and Registration Chamber
Documents about existing real estate or its absence

After consideration of the application, the applicant is either included in the relevant register, or a participant certificate is issued. Further actions for registration of a social mortgage largely depend on the implementation mechanism used in a particular region.

source: https://www.informetr.ru/journal/ipoteka/6982/

What is a mortgage, its types and how does it work?

A mortgage is a type of lending that will allow a person to purchase housing without a sufficient amount to buy an apartment or home ownership.

Attention!

But the guarantee of payment of the loan will be the property that was the purpose of the acquisition.

The system of mortgage lending minimizes the risk of non-payment by the borrower of the loan, which allows banks to actively invest in the construction of new houses, and, consequently, to improve and renew housing stock city, region and state as a whole.

How it works?

The crediting mechanism consists in the fact that the bank issues cash or transfers non-cash funds against payment under the real estate purchase and sale agreement. At the same time, an important condition is to secure the agreement with a pledge.

The collateral can be:

Purchased property.
Immovable property that the borrower had before the mortgage.

Due to the fact that the loan is secured, banks offer reduced interest rates. This has a good effect on the possible use of this type of lending for the purpose of buying a home or other real estate.

However, there are a number of features:

the pledged real estate is encumbered, about which the registrars of Rosreestr are notified;
in case of non-payment of regular payments, the bank will satisfy the claims at the expense of the pledged property;
being the owner, the right to dispose is limited and alienation is possible only with the consent of the creditor;
the value of the property must cover 100% of the amount provided to the borrower;
the need to take actions to remove the encumbrance after the loan is repaid;
until the execution of the agreement, the pledgee is the bank;
length of the crediting period;
the collateral remains with the person who applied to the bank for a mortgage.

Types of mortgages

Today there are several classifications and types of mortgage lending. All of them take into account various features such as collateral, purchase purpose, and more.

There is a classification of types of mortgage lending based on the currency in which the loan is provided.

Depending on the currency:

The money received by the bank's client is presented in national currency- ruble.
Facilities, transferred by the bank borrower are foreign means payment, dollar or euro.

Depending on what type of real estate is purchased, a classification of mortgage loans is also built.

Advice!

There is a variety in terms of social orientation, where the state provides significant support in the purchase of real estate.

Types of social mortgage:

Military.
For young families.
For persons who are on the waiting list to improve their housing conditions (at the same time, they do not have access to a regular mortgage loan)
For graduates of orphanages.
For budget employees.

There is no choice of mortgage as a current one. In fact, a search is carried out and familiarization with the most advantageous offer and conditions of the loan agreement.

Based on this, you need to compare the interest rates on loans and choose the lowest value. This is necessary to save money, so even 0.1% within 20 or 30 years will result in a decent amount. Also, you should familiarize yourself with the possible additional payments under the agreement.

The loan must be taken in the currency of the income received. This means that if the resulting wage in rubles, then the loan should be taken in them. Do not forget and lose sight of the events of the crisis years, when taking out a loan in foreign currency many suffered. The jump in the rate of foreign currencies against the ruble by 40-50% created the conditions under which the loan rose in price by this interest.

Percentage selection. There are a couple of types: fixed and floating. The first guarantees stability, while the second depends on the refinancing rate of the Central Bank.

Loan payments should make up as little of the income as possible. Ideally, this should be 20-30% of the total family income. This will preserve the relative financial stability and the amount spent will not "hit the pocket", and therefore will not have to give up a lot.

It is worth asking the bank maximum amount... After all, the acquired property will need to be repaired, furniture, parts and interior elements, etc. will need to be purchased.

Warning!

When purchasing for the first time, it is worth considering more modest options in terms of area and number of rooms. As the saying goes, "... a tit in the hands is better than a pie in the sky ...". It will be faster to pay off the loan for the "odnushka", and if expansion is necessary, you can sell it and get a decent amount of the down payment.

It is necessary to calculate for what period it will be more profitable to take a loan. That is, calculate the amount of the monthly payment. Before buying, carefully read the offers on the real estate market. This can save you from spending money on an object worth less.

Better to buy in season. So it is known for certain that prices on the real estate market begin to rise from the end of summer until the New Year, and after that they are rapidly falling.

Seek meetings with owners. The services of a realtor are also expenses, so why bear this additional financial burden. Inquire about the terms of insurance.
Do not neglect the advice of a lawyer or real estate specialist.

Borrower requirements

It is logical that by providing money for the purchase of real estate, the bank wants to be sure that the borrower meets a certain list of requirements, which include:

Legal capacity.
A package of submitted documents.

Legal capacity is a prerequisite for the approval of a mortgage, because the bank will never conclude an agreement with a person whose legal capacity is suspicious.

The presence of all the necessary securities is due to the peculiarity of the contract and the risks arising from it. They are needed to determine the solvency and secure the contract with mortgaged real estate.

Required documents

The package of documents includes various information about the borrower. At the same time, the information of interest concerns both work and personal (such as marriage and family).

For individuals it:

Bank questionnaire.
A duly completed application for a mortgage.
General civil passport.
SNILS.
Military ID or certificate of registration.
Education document.
Marriage certificate.
Child's birth certificate.
Labor book.
Certificate of income received.
Originals and copies of title deeds for real estate.

For individual entrepreneurs, these are:

State registration document.
Receipts for payment of tax and other deductions provided by law.
Copies of bank statements.
Copies of documents that can confirm the possibility of payment of the loan.

What type of housing can be purchased with a mortgage?

This agreement allows you to purchase both objects on the market of new residential and non-residential stock. This allows a greater number of citizens to realize the need to purchase real estate.

Mortgage transactions are aimed at purchasing:

Apartments.
Houses.
Cottage.
Suburban area.
Rooms.

Consequences of non-payment of the loan

In case of failure to pay the necessary payments within the period established by the agreement, penalties are applied to the borrower, and so on until the bank takes away the pledged item.

However, you should not think that the bank will go to last resort, because having received the collateral, it did not return the money, but on the contrary, there is a high probability of incurring additional costs.

At the initial stage, bank employees will try to:

Contact the borrower.
Find out the reason for the delay.
To establish the fact of the possibility of repaying the debt further.

If this is not enough, the bank will try to focus its efforts on the application of penalties. The last resort will be foreclosure on the subject of the pledge.

Advantages and Disadvantages of Mortgages

This type of lending has both its pluses and minuses, which can be determined by someone on the need to obtain it.

purchase of real estate;
the opportunity to use the property immediately after purchase;
compensation of interest by the state is possible;
compensation is possible income tax and property deduction;
the borrower registers the property in his own name and is the owner.

it is impossible to alienate real estate without the consent of the mortgagee (bank);
overpayment of interest;
long term of payment;
the risk of loss of real estate in case of delay in making the next payment;
complicated procedure for obtaining.

Lending to the population for the purchase of housing is an important factor in the development of the real estate market. At the same time, banks allow to develop construction industry and at the same time help citizens to acquire real estate.