How to get a mortgage step by step guide. How a mortgage transaction works step by step: instructions. Conducting a sale and purchase transaction

Buying an apartment is serious business. Many parties are involved in the process, although the main ones are the buyer with the seller and the creditor who finances this transaction. You will also have to collect a lot of documents and, possibly, spend a lot of time agreeing on the terms of the loan. However, it only seems that getting a mortgage is something impossible.

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The second part is the search for real estate that you will buy on credit. At this stage, you will have to decide whether you will look for a suitable apartment on your own or contact realtors. If you save on the services of intermediaries, then, again, you should independently find out what requirements banks impose on future collateral.

The third part is exploration. It's time to pay a visit to the selected bank, talk with a loan consultant in advance, clarify the conditions and take a list of documents that will be required to apply for a loan.

Pre-Approval

The bank, having carefully considered the evidence of your creditworthiness and trustworthiness provided by you, having familiarized yourself with your choice of housing, will issue a preliminary verdict. This is not yet the conclusion of a loan agreement, but a big step towards it.

Choice of lender

Directly design

At the same time, you usually do not need to look for an insurer and an appraiser, banks offer those specialists with whom they themselves worked. But it’s worth looking into the text of the agreement personally - and do it before the day of signing, asking the bank for a typical mortgage agreement form. Do not rely on the words of a consultant - he may forget or keep silent about something.

Entrusting mortgage registration to intermediaries and technologies

Questions related to loan documents, the choice of a loan program and the approval of a lender can be entrusted to a mortgage broker. Of course, such specialists can only be found in large cities so far, but their services are increasingly presented at a good level.

I would like to mention one more innovation. In an effort to save time - theirs and borrowers, and at the same time their expenses, many lenders allow you to leave

Welcome! Mortgage at first glance is quite a complicated process. In this post, we will walk you through the steps involved in applying for a mortgage so that you have a clear picture of the entire transaction. Step-by-step instructions for buying an apartment with a mortgage will help you understand what needs to be done at each stage and what you need to pay special attention to.

So, a mortgage from scratch. Let's start dealing with this issue.

Recently, more and more Russians are deciding to buy a home with a mortgage loan. This scheme has its advantages: you do not need to borrow money from relatives and friends, you immediately register the apartment as a property, and you can pay off the loan in accordance with your needs.

Unlike consumer credit where the collateral is a surety individual or not at all, in mortgage lending, the collateral is real estate, which is bought by a bank client. This means that an encumbrance is imposed on the apartment (without the consent of the bank - the lender it will be impossible to sell, donate, re-register square meters), but you can live in it, make repairs, etc. After the obligations are repaid, the encumbrance is removed.

Since in most cases an individual does not have enough own funds, mortgage loans are characterized by a significant loan amount (from 300,000 rubles to several million), a long loan period (up to 30 years).

When applying for a mortgage loan, you can choose a debt repayment scheme: annuity payments or differentiated payments. In the first case, payments are always the same size, interest is distributed over the entire loan period. With differentiated payments, the amounts decrease: at first, the contributions are maximum, then they gradually decrease, interest is charged on the balance. What type of payment is more profitable? With differentiated payments, especially when maximum term, the amount of the overpayment will be less, but the income of the borrower (or family) must be higher.

You can learn more about housing in our last post.

Let's start to understand how a mortgage is issued step by step.

Step-by-step instruction

In summary, the main stages of a mortgage transaction:

• search for a lender (determining the amount and conditions for issuing funds, approving the application),
• selection of housing options, approval of the application at the bank,
• signing a loan agreement and a purchase and sale agreement,
• registration of the transaction, registration of housing in the property.

Getting a mortgage is a big deal. If knowledge and time are not enough for independent market analysis mortgage lending you can use the services. For a certain amount, the specialist will select the most profitable option depending on your possibilities and wishes.

If the budget is already limited, you should independently consider the offers of banks and choose the right offer. By visiting bank branches or official websites of companies, you will familiarize yourself with the current lending conditions and be able to choose the most profitable ones.

Use our service "" to find the best offer on the market as quickly as possible.

When seeking a mortgage, the procedure is as follows:

• determine the object of lending (an apartment in a new building, on secondary market, room, share, individual house, land, townhouse, etc.),
• find out if the bank has special offers (for young families, state support, etc.),
• determine the value of real estate: calculate the amount of the down payment and the loan,
• ask the bureau credit histories your CI
• clarify with the bank the requirements for borrowers in terms of marital status, income, etc.
• determine the loan term and type of payments depending on solvency.

You should answer each question for yourself in stages to avoid mistakes and unforeseen expenses.

Selection of special programs in the bank

• military mortgage (the state transfers funds to the individual account of a serviceman to accumulate a down payment, when applying for a loan, it pays the debt),
• mortgage loans to young families (reduced interest for spouses under the age of 35),
• maternity capital mortgage (to support families with two or more children),
• mortgage loans for "salary" clients (a reduced rate is offered for clients who receive a salary to a bank account).

What else to look for when choosing a bank? For the need to pay additional fees:

• fees for maintaining or opening a current account (if any),
• the amount of insurance (borrower's insurance, title insurance, property insurance - depends on the tariffs of the insurance company with which the bank cooperates),
• the cost of producing a report on the market value of real estate.

Applying for a loan

When you have decided on banking program and make sure that you meet its requirements, you can safely apply for a loan. To purchase an apartment on a mortgage, you must submit the following documents to the bank:

• passport of a citizen of the Russian Federation of all participants in the transaction (borrower, co-borrower (wife), guarantors, if any),
• marital status documents
• income proof documents
• certificates, charts, documents on current obligations (on the payment of alimony, existing loans, etc.).

The package of documents may differ depending on the requirements of the bank. SNILS, insurance policy, education documents, driver's license etc. When submitting documents, you need to fill out a questionnaire and an application. It is advisable to indicate the most accurate and truthful information - this will help increase the chances of approval of the application.

After 1-5 days, the loan officer will report on the decision of the bank and report the maximum possible amount to be issued, the approved rate and the payment schedule.

If the application is approved (the decision is valid for 2-6 months), it's time to start looking for a suitable apartment.

Choosing an object for a mortgage loan

When buying real estate in a house under construction, it is worth considering options only in houses accredited by the bank. This will simplify the mortgage transaction procedure as much as possible and protect you from scammers. The money will be transferred directly to the current account of the developer or contractor, the right to claim the apartment will pass to you.

Documents on the object to be submitted to the bank:

• a preliminary purchase and sale agreement (contract of intent, investment agreement, etc.) concluded with the developer,
• documents confirming the payment of the down payment (receipt, cash receipt) from the developer.

Thus, the package of documents for real estate is minimal, but at the same time, the purchase square meters in the primary market is associated with risks - bankruptcy of the developer, failure to meet deadlines, etc.

In the case of purchasing an apartment on the secondary housing market, the package of documents is much wider and may differ in each specific situation. So, you need to collect:

• title documents (certificate of state registration of property rights, contract of sale (or donation, division of property, etc.),
• copies of sellers' passports,
• a copy of the personal account,
• technical, cadastral passport,
• extract from the EGRP.

They may also request:

• documents confirming the legal and legal capacity of sellers (certificates from dispensaries),
• certificates of the absence of debts on utility bills, on property tax,
• other documents.

If the property is bought with a land plot, the list for the application is supplemented by documents on the ownership of the land, on the boundaries of the land plot.

After the preliminary approval of the application, a report on market valuation, provide insurance policies.

Conclusion of a loan agreement and issuance of a loan

When the bank has made a positive decision on the application for a mortgage, the most exciting and crucial moment comes - the conclusion of a loan agreement and the issuance loan funds.

So far, there are two schemes for issuing loans in banking institutions: after state registration transactions and using safe deposit box. In the first case, the calculation algorithm is as follows: on the day the loan and security agreements are concluded, all buyers and sellers endorse the real estate purchase and sale agreement. On the same day, the borrower transfers the amount of the down payment to the owner of the apartment in cash or by transfer to the seller's account, a receipt is drawn up for receiving the funds.

Further, all documents are transferred to the Registration Authority and within 5 working days the owner of the apartment is changed. For the final settlement, the certificate is transferred to a bank employee, on the basis of which the amount of credit funds is credited to the borrower's account, and then transferred to the seller. Confirmation of receipt of the amount and the final settlement is the second receipt.

How is a mortgage transaction using a safe deposit box

When renting a cell, credit funds are issued on the day the loan documentation is signed. The amount of the down payment and loan funds in the presence of a loan officer, borrowers and sellers is laid in a cell and is there until the state registration of the transaction. After providing a certificate for an apartment to the bank, the cell is opened in the same composition, the money is transferred to the seller with a written receipt.

Deal registration

In order for the transaction to be carried out in the registration authority (Justice, Rosreestr, etc.), you need to submit an application to sellers and buyers indicating personal data. The application must be accompanied by documents of title, copies of passports, a receipt for payment of the state fee. If the seller's real estate is jointly acquired property, it will also be necessary to draw up the spouse's consent to the alienation of housing from a notary.

It will take 5 working days to register transactions with an encumbrance, while ordinary real estate purchase and sale transactions are registered within 30 days.

Features of mortgage programs

• Buying real estate in the secondary housing market

Since this segment is most in demand, the chance of encountering scammers is the greatest - the apartment may be pledged, illegally alienated, etc. declaring the transaction invalid.

In addition, finished housing must meet the requirements of the bank. For example, it will not be possible to buy an apartment on the 1st floor with a balcony attached to the ground - such a redevelopment is very difficult to legitimize. The same applies to other redevelopments - displacement of wet spots, demolition load-bearing structures etc. As a result, the bank will not let such an application for a loan pass.

There are other requirements for the collateral object (each bank has its own): housing should not be dilapidated, in disrepair, should not have wooden floors (in multi-storey buildings), the distance from the city should not be more than 30-50 km, etc.

• Buying property in a new building

Acquisition of real estate in a house under construction is necessarily risky, as often the borrower becomes the owner of square meters even before they are built. This promises the possibility of poor-quality construction of walls, ceiling, floor, as well as bad repair and finishes.

In addition, as mentioned above, there is a risk of bankruptcy of the developer, which will lead to the fact that the houses will not be built at all. To protect themselves from illiquid property, banks require a guarantee of 1-2 individuals.

It is also worth noting that for the entire period of construction, the borrower has the right to claim, he acquires the right of ownership only after the house is commissioned and recognized as residential.

• Acquisition of a share, a room

Buying a share or a separate room in an apartment is possible with the help of a mortgage loan only if, after the loan is issued, all the property will belong to the borrower (in other words, there must be a redemption of the last share). We have already described how a mortgage is issued for a room and a share.

• Buying a house and land

An individual house on a land plot, a townhouse are considered less liquid housing, so banks are reluctant to issue loans - the rate for this type of lending is higher. About that, described in a separate post.

We hope you don't have any questions. If they are, please ask them in the comments. We will be grateful for the positive assessment of the article and repost in social networks.

Last update: 02.02.2019

Buying an apartment through a mortgage is a responsible and important decision in the life of every person. Therefore, a potential borrower must first assess their own financial capabilities. This should take into account:

• Feasible amount of monthly payments (as a rule, it is no more than half of the income received);
• The cost of the apartment;
• The amount of the down payment (usually - 30% or more of the cost of housing);
• Type of apartment and the proposed area of ​​​​its location.

Instructions for buying an apartment in a mortgage involves the following procedures.

Choosing a bank and mortgage program

Before you take out a mortgage to buy an apartment, you need to analyze the conditions and offers in various banks. The determining indicators when choosing the best option are:

• The amount of the mortgage loan;
• The interest rate, as a rule, it varies from 11 to 15% per annum, and depends on the bank and the desired amount;
• Encumbrances (conditions for extradition and support);
• Loan currency;
• Collateral conditions (including guarantee requirements);
• Payment terms;
• Terms of insurance (including the mortgage object);
• Presence of penalties for early repayment.

Having chosen several suitable banks and mortgage programs, it is necessary to carefully study the intricacies of the mortgage product based on advice received as a result of a call or visit.

It must also be remembered that many banking institutions impose requirements and restrictions on prospective borrowers, namely:

• Permanent registration in the territory determined by the bank;
• A certain length of service at the current place of work (general seniority at least 1 year for last place over 4-6 months);
• Positive credit history;
• No criminal record;
• No other parallel loans;
• legal capacity;
• Age requirement (minimum age 21, maximum is determined by the moment of loan repayment, by this year the borrower should be no more than 65-75 years old)
• If co-borrowers are involved, then no more than 3 people, the degree of relationship - spouses, brothers, parents, third parties;
• If the borrower is a man under 27 without a military ID, he will be denied a loan. That is, a person liable for military service, who has not completed his service, who has a deferment (for example, in connection with his studies), etc., cannot be a borrower (with the exception of military personnel, in reserve).

Applying at the same time in several banks, you can find out the specific conditions of the mortgage and the procedure for buying an apartment in each of them. After the approval of the application, it is necessary to proceed with the selection of a suitable apartment. This procedure usually takes 2–3 months.

Information on preconditions for mortgage lending is available on the official websites of banks.

Mortgage application approval time is 5 to 10 business days. In the meantime, all submitted documents are carefully checked, so you need to start looking for housing only after the firm consent of the credit institution.

Important: the bank may refuse to issue a loan and conclude an agreement only if it is clear from the submitted documents that the potential borrower is unable to repay the loan and interest, based on his financial opportunities. The remaining motives for refusal are illegal and can be appealed to the court.

Property selection

When choosing real estate, you should take into account the requirements of the bank for the mortgage object. Usually:

An apartment on the secondary market must:

Residential building or cottage must:

• Be located in the zone defined by the mortgage program;
• Have a year-round access road;
• Be suitable for year-round use:
• Comply with sanitary standards (have heating, sewerage and water supply systems);
• Pass the appropriate cadastral registration.

To select real estate in new buildings, banking institutions, as a rule, offer objects from the base of developers who have passed official accreditation. For this, special programs are provided, including state ones, to support mortgage lending for the primary housing market.

Example: DeltaCredit Bank offers loans under the Mortgage with state support» at 12% per annum. Clients can take advantage of benefits within the framework of the conditions approved by the Government of the Russian Federation.

If the borrower independently chooses an apartment in the primary market, then banks usually impose the following requirements on developers:

• Time on the market housing construction- more than five years;
• Compliance with assessment standards financial stability according to federal law 214-FZ;
• No delays (more than a year) in the completion of construction and commissioning of facilities during previous years;
• Availability of objects of point and mass development (two or more) put into operation;
• Lack of initiation of bankruptcy proceedings or a decision on liquidation;
• Other requirements.

To receive professional assistance in choosing real estate and confidence in the legal purity of transactions, banks offer to use the services of real estate agencies that are their partners. To do this, they provide customers with the appropriate partner bases.

Property valuation

For the timely fulfillment of obligations under the contract, the terms of the mortgage determine the provision of liquid collateral, which most often serves as the acquired property. Market price collateral property is the starting point for determining the amount of a mortgage loan, in connection with which the valuation of collateral property is important indicator during the lending process.

Most banks, in order to conduct a reliable assessment of collateral for a loan, offer to use the services of appraisal organizations from among their partners. At the same time, they do not limit borrowers in their choice, however, if the assessment report is provided by an organization that has a negative experience with the bank, the latter has the right to initiate an additional check.

Also, if the inaccuracy of the provided assessments or violations of the requirements of the legislation in the field of assessment is revealed, then banking institutions have the right to send motivated complaints to regulatory organizations (SROO). Therefore, experts recommend using the services of partner appraisers.

The valuation certificate is provided to the creditor bank.

List of documents and application to the bank

In most banks, the documents provided for buying an apartment on a mortgage are:

• application form for a mortgage loan, you can apply for it online on the bank's website;
• By client, photocopies of the following documents:
  • Photocopy of the passport;
  • Certificate of income in the form of a specific banking institution or 2-personal income tax;
  • A certified copy of the work book;
  • SNILS - insurance certificate of state pension insurance
  • Military ID for males of military age;
  • Education documents (certificates, diplomas, etc.);
  • Marriage/divorce certificate and marriage contract (if available);
  • Birth certificates of children;
  • Certificate of registration in tax authority an individual at the place of residence in the territory of the Russian Federation (on the assignment of a taxpayer identification number (TIN);
  • Documents on existing debt obligations of the client (or previously executed);
• For real estate:

• • Legal documents (contracts, acts, etc.);
  • Technical documentation (cadastral passport or registration certificate);
  • Photocopies of passports of real estate sellers.

Documents on other regular income and marital status may also be requested.

Example: A married couple applied to the bank to get a mortgage for 2,500,000 rubles, both of them work (general monthly income 50 thousand rubles), no children, age 30 years. They were refused by the bank, because the income did not allow them to get a loan - living wage for each is 15,000 rubles. Solution: take a smaller amount - 1,500,000, or look for an additional co-borrower, not of retirement age, with salary at least 25,000 per month.

If capable adults who are not borrowers are registered in the object of collateral, banks ask them to additionally provide signed and notarized statements about their awareness that:

• The apartment in which they live is transferred to collateral;
• In case of non-fulfillment of the obligations specified in the mortgage agreement, the apartment will be foreclosed, up to the eviction of the applicants.

If persons who are not close relatives of the mortgagor are registered in the object of collateral, banks additionally require an explanation of the need to register these persons in this object and documentary evidence of the ownership of these persons, where they can be registered.

Important: As a rule, banks do not accept that among the owners of real estate transferred as collateral, there were minors and / or incapacitated persons.

Conclusion of a loan agreement

Before signing a loan agreement for the purchase of an apartment, its careful study is required. Close attention should be paid to all encumbrances and potential costs, especially for hidden interest, for which it is recommended to translate them into numbers.

As a rule, hidden interest consists of various commissions (for cashing out, account maintenance, etc.) and required deposits defined in percentage from the amount of the mortgage loan.

Example: Upon receipt of a mortgage loan in the amount of 1 million rubles at a rate of 10% per annum, annual payments without hidden interest will amount to 100 thousand rubles (1 million * 10%). Charging only a commission for cashing out in the amount of 2.8% will lead to an increase in the interest rate to 12.8% and additional payments in the amount of 28 thousand rubles (1 million * 2.8%).

Important: By the Decree of the Presidium of the Supreme Arbitration Court of the Russian Federation No. 8274/09 dated 11/17/2009, banks are prohibited from charging a fee for opening and maintaining a loan account.

If the bank imposes commissions, making them mandatory for obtaining a loan, then it must indicate these encumbrances in the contract and when disclosing effective interest rate. Passing through the purchase stages, when signing the contract, it is necessary to require the bank to disclose related costs in order to determine the real value of the mortgage.

You should also pay attention to the conditions for changing the amount of interest. Many banks provide for this possibility unilaterally without the consent of the borrower. This is fraught with the fact that in certain economic situations, the bank may increase the interest rate and the loan for the client will become unbearable. Therefore, it is necessary to seek the inclusion in the loan agreement of conditions that provide for a change in interest or loan repayment amounts only by mutual agreement of the parties.

Another important condition is the possibility of early repayment of the loan. This is provided by law. However, banks go to the trick and condition this right with additional payments.
Eg, V loan agreement It may be provided that in the event early repayment the borrower pays the loan to the bank lump sum payment in the amount of 1% of the repaid amount in excess of the early repaid loan.

Registration of a transaction with the seller and transfer of money

The next step in the purchase procedure, after the conclusion of the loan agreement, will be obtaining Money and purchase of the selected property. The transfer of money is key point deals. As soon as the money is in the hands of the buyer, you can deal with the execution of the *agreement for the purchase of an apartment*. Relations between the parties are reflected in the contract of sale, an important condition of which is the value of the property and the procedure for payment. The payment procedure can be carried out:

• Cash (on hand);
• Cashless payment (transfer to the seller's account);
• Through a bank account.

Often, banks issue a loan on the terms of the initial registration of a real estate purchase and sale transaction and a mortgage, and only after that they issue borrowed funds. In such cases, the acquisition of real estate is carried out in the following stages:

• the buyer notifies the seller about the concluded loan agreement and agrees on the transaction with the condition of deferred payment
• pays an advance to the seller from his own funds
• registration of the transaction and mortgage
• the bank is provided with certificates of the concluded transaction and registration of the mortgage, on the basis of which the money is issued
• final settlement with the seller

As a rule, sellers agree to such conditions, since after registering a mortgage, the bank issues loan funds in the coming business days. And the purchase and sale without payment guarantees the seller a security deposit by virtue of law. So the seller has no risk.

The transaction for the purchase and registration of an apartment is carried out in the Federal Service for State Registration, Cadastre and Cartography (Rosreestre). When concluding it, it is important to reach an agreement on all the important conditions that will not allow this deal not to take place.

Insurance and mortgage transfer

To conclude a mortgage agreement, you must go through the procedure compulsory insurance collateral real estate from the risk of damage and loss. This procedure is provided by the Law on Mortgage.

Often banks require borrower's life insurance or other risks. The decision to sign an agreement with additional types of insurance is the decision of the borrower, because it leads to an increase in loan payments (hidden interest).

The following is the process of formalizing the mortgage agreement and the mortgage. The mortgage agreement is registered with Rosreestr, which will not allow the borrower to perform any actions with the property without the consent of the bank, the holder of the pledge. The mortgage remains with the banking institution and allows it to resell the right to claim under a pledge agreement.

Methods of collection of overdue debts on loans

Non-performing loans have a negative impact on the business of any financial organization up to its viability. In this regard, banks will improve the process of working with problem loans.

Work with debtors goes through a constructive dialogue. If it is determined that the financial difficulties of the borrower are urgent, banks go to restructure the loan by:

• Changes in the payment schedule;
• Loan extensions;
• Interest rate changes.

If the underwriting of the loan revealed problems in terms of the solvency of the borrower, the bank sends him notices with demands for repayment of the debt, and negotiates with him. During the negotiations, the consequences of non-payment of the debt are explained, up to the possibility of transferring the case to the courts (forcibly to collect the debt).

It should be noted that debt evasion is a criminal offense. Therefore, it is necessary to use all the possibilities to pay the debt under the loan agreement, and preferably on a voluntary basis.

What to do if there is no money to continue to pay a mortgage loan

All sorts of nuances should be taken into account, for example, loss of a job, deterioration in health, etc. In case of delay in payment, bank employees begin to call the debtor on the phone and remind them of the payment of the debt. If there is no response to this, the bank sends a mail notification of the urgent payment of the existing debt within 10 days. If there was no reaction to this, the pledgor has the right to go to court, where a decision will be made on the early recovery of the entire remaining loan amount and interest, and on the sale of the apartment at auction.
The apartment at the auction is sold at a mortgage value, which is usually less than the market value. Therefore, when concluding a mortgage agreement, one should pay attention to the size of the collateral value and try to bring it closer to the market level.

In this case, after the sale of the apartment, the debtor will receive only the amounts paid by him on the main loan minus%, also minus the fines imposed by the bank, and then only if the money remains from the sale of the apartment.

Example: the client was granted a loan for the purchase of an apartment in the amount of 3,000,000 rubles. For 2 years, 500,000 rubles were returned to the bank, taking into account interest. At the time of collection, the debt to the bank in court is 2,700,000 rubles. (loan balance + interest due). The collateral value of the apartment was 2,300,000 rubles, but in fact it was sold at the auction for 2,000,000 rubles. As a result, the borrower owes the bank another 700,000 rubles (this balance is covered by the sum insured).
That is, the debtor remains in the red - loses the apartment and the amount of interest paid, pays a penalty to the bank, which amounts to impressive amounts. The remaining funds are used to pay off legal and other costs, and to the bank (to pay off a previously issued loan).

But since the process of foreclosure on an apartment is quite long, during this time it is advisable to find a job and pay off debts:

• If the debtor before the trial or even in the process court session finds a job, etc., and pays off his current debt, an amicable settlement of the disagreement is possible, since it is also not profitable for banks to get involved in the sale of an apartment.
• If the case goes to court, the debtor can fight for a reduction in the amount of the penalty (under certain conditions it can be reduced).

If you have questions about the topic of the article, please feel free to ask them in the comments. We will definitely answer all your questions within a few days.

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Last update: 03-01-2020

Step #3 - Collect Documents for a Mortgage

Collecting everything Required documents mortgage and take it to the bank.

At the same time, we make copies of all documents in in electronic format, they may still be useful in the future, and printing is much easier than rescanning.

We are waiting for a positive decision on granting a mortgage loan.

Step #4 - Get approval from the bank and you can look for an apartment

Step #5 - Sign a preliminary contract and pay a deposit

Did you find an apartment? Came to consensus with sellers?

Then we conclude a preliminary contract. It describes the object of purchase, conditions, terms, amounts, responsibility. Then we give a deposit.

Detailed article with samples and examples preliminary contract buy sale by link

Step No. 6 - Collect documents for the bank for the apartment purchased on a mortgage, and immediately evaluate the found apartment with an appraisal company recommended by the bank

Everything is simple here. From you, almost all the documents have already been transferred to the bank, it remains to wait until the sellers prepare their part of the documents. After that, the bank re-examines the application for a mortgage loan, but for a specific apartment option.

Step #7 - Collect all documents for the insurance company and conclude a life and property insurance contract, if required, then title insurance

• Choosing an insurance company we actually carry out the same as choosing a bank, based on the required documents (the less, the better) and annual payment. This process you can start as soon as the documents are submitted to the bank for consideration. It’s not worth pulling until the last moment, so as not to run with a swollen head later. mortgages, it's up to you.

• We conclude an agreement for the following types of insurance: insurance against the risk of loss or damage to the apartment (); life and health insurance; insurance against the risk of loss or restriction of ownership of the apartment.

• contract with insurance the company signs before concluding a loan agreement.

Step #8 - Conclude a loan agreement and a contract for the sale of real estate, transfer the down payment, register the transaction, and finally settle with the seller

• On the appointed day and time we arrive at the bank with money and (purchase and sale agreement, and a loan agreement). We carefully check everything so that there are no errors in the documents. After that, we transfer to the seller an initial fee.
• We agree about the date of going to the registration authority, before that we pay the fees and make copies of all the necessary documents, as well as the fees themselves.
• Buyer pays 200 rubles (specify figures) for an extract from the state register of registered rights to an apartment, 1000 rubles for registering a mortgage agreement, 500 rubles for registering an agreement on the alienation of real estate (purchase and sale agreement).
• Seller pays 500 rubles for registration of an agreement on the alienation of real estate (specify the figures).
• We arrive on the appointed day, transfer documents to register ownership and wait 5 days. After receiving back the documents and the certificate of registration in your name (carefully check them on the spot), we take an extract from the state register of registered rights to the apartment, for which we paid 200 rubles, and also make a notarized copy of the certificate of ownership (since 2015, no certificates of ownership have been issued). We go to the bank, where now the bank employee checks the documents and only after that the seller receives the rest of the money.

Step #9 - You bought an apartment with a mortgage and became the owner

• Documents are issued, keys are received. - Can register in a new place, this must be done within a week from the date of discharge from the previous place of registration.
• You inform the Criminal Code or the HOA about the change of ownership.
• And do not forget to pay the mortgage to the bank every month the required amount. We almost missed the second payment, miraculously, two days before the deadline, I dreamed that it was time to pay, I still can’t even believe it.
• On next year after buying an apartment, you can apply for a mortgage in tax return in the form of 3NDFL and.

Congratulations! Now you have your own home!

You can print the procedure how to buy an apartment with a mortgage or save it as a bookmark, it will come in handy in the future.

Property selection

If you assume the need for a mortgage to buy a home, you will have to look after the property in advance.

This is especially important if a new building is being purchased. The fact is that usually at an early stage of construction residential complex or a village, when the risks of both banks and investors are too high, 1-2 partner banks cooperate with the developer. Therefore, at the very moment when the developer's prices are the lowest, the choice of mortgage programs for you will be limited.

Banks like the least suburban villages, in which land. The reasons for this are the unstable market price of such land and its questionable liquidity, which ultimately depends on the success of the developer in the development of the village. However, large banks have mortgage programs and for such a case. That's just a mortgage is given here for a dual purpose: buying a plot and building a house. The construction period will be limited, and the interest on the mortgage until the new house is put into operation will be 1.5-2% higher than the standard ones.

But even when buying a secondary property, it is advisable to look after the desired objects in advance. Otherwise, how do you know what funds you need for a mortgage?

Choosing a mortgage program

Based on the chosen housing, you need to decide on the choice of bank. There are two main criteria here:

• whether the conditions of the bank suit you;
• whether you meet the requirements of the bank for borrowers.

If we talk about the first criterion, then it is unlikely that you will be able to save on interest. Typically, banks offering Better conditions they require several types of insurance for interest, they charge commissions for various actions (consideration of an application for a loan, money transfer). What you should really pay attention to is maximum size a loan that you can take in a particular bank and the amount of the down payment.

As for the second criterion, if you have difficulty confirming your income, place of permanent employment and providing other documents from a large list, but there is a serious amount for the initial payment (30-50% of the loan amount), then contact the bank offering the loan on two documents. Interest on such a loan is slightly higher than standard (usually no more than 1-2%).

Preparation of documents and submission of a loan application

In the process of communicating with the loan officer, try to find out all the details of the loan program. It's better to ask standard contract under the proposed lending program. After carefully studying it at home, find in it the answers to the following important questions:

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• the presence of commissions for lending services and additional services imposed by banks on consumers “to burden” ( credit cards and so on.);
• the number of mandatory insurances and the consequences of refusing to issue one of them (according to the law, only insurance of the collateral object is needed);
• the possibility of early repayment of the loan, are there any penalties for such repayment;
• the maximum period of delay on the mortgage, after the expiration of which the bank will undertake to collect collateral from you.

The list of documents for a mortgage is individual for each bank. However, with the exception of credit programs according to two documents, in any case, you will be required to provide a certificate of income, documents on marital status.

A loan application is considered by banks at different times - depending on the number of bureaucratic services within the bank and the complexity of the submitted package of documents. So, loans under 2 documents are approved in 2-3 days, but an application for a standard mortgage can be studied by specialists of a credit institution for several weeks.

Selection of a property and its approval by the bank

Having received approval from one of the banks for your loan application, you can start choosing an apartment. If you have previously considered which banks the developer of the residential complex you have chosen works with, then you can easily cope with the selection of a new apartment. It will be more difficult with the secondary. The purity of the legal fate of the apartment is very important here. Probate divisions and divorces, registered minor children, and military conscripts are all reasons why a bank may reject an object. And believe me, he is on your side here: after all, the dubious past of housing can make itself felt in the present in the form of lawsuits challenging your ownership.

When you and the bank have picked up an apartment, you need to evaluate it with a licensed appraiser. The bank will call you an appraiser. The results of the assessment report determine how much you will be given a loan.

Conclusion of a loan agreement

The next step will be the conclusion of a loan agreement. You will receive money and will finally be able to purchase the chosen apartment. The transaction with the seller of the apartment is executed through Federal Service state registration, cadastre and cartography (or Rosreestr for short). This service registers the loss of ownership of the seller and the emergence of ownership of the buyer. Upon completion of registration (about 2 weeks), you will receive an extract from the unified state register of real estate, confirming your ownership of the purchased housing.

Now it's time to fulfill the promise to the bank (such a clause is always contained in the loan agreement) - and to transfer the purchased apartment as a pledge.

Insurance of the purchased property and its transfer to the mortgage

Before concluding a mortgage agreement, it is necessary to fulfill the obligatory condition stipulated by the mortgage law (mortgage of real estate) condition: to insure the purchased object against the risks of loss and damage.

Perhaps the bank has also suggested that you insure yourself, your property rights, or the risk of non-repayment of a loan to the bank. Agree to such conditions in the contract, go for a loan with increased interest(this is usually a consequence of refusing one of the types of optional insurance) or contacting another bank is your choice. Here it is necessary to compare the amount of increased insurance payments and the cost of insurance.

After presenting insurance to the bank, you draw up a mortgage agreement and a mortgage. The mortgage agreement must be registered in the already mentioned Rosreestr service. But now you will not be given a certificate, but a copy of the contract with a stamp on the registration actions and seal of the registrar. Now in state register real estate, which is maintained by Rosreestr, the encumbrance of your apartment with a bank pledge was noted. It will not be possible to dispose of it without the consent of the mortgagee bank. As for the mortgage, it remains with the bank. This security, which allows the credit institution to resell its right to claim against you under a pledge agreement, if necessary. The mortgage will not have any effect on your relationship with the bank on the loan.

Electronic registration of the transaction

Row credit institutions offers its customers electronic registration of transactions and mortgages directly at the bank's office, without the need to visit Rosreestr. This method is more convenient both for the parties to the transaction and for the bank itself, while the cost for the buyer (mortgage recipient) increases by only a few thousand rubles (usually within 5,000). This method is faster and safer.

To register the transaction and pledge in this case, the seller and the buyer in the office banking organization sign a contract of sale, the recipient of the loan concludes with the bank mortgage agreement, insurance contract. After that, a bank employee scans all the necessary documents (primarily mortgage and sale and purchase agreements) and sends them to the Rosreestr service. After that, the buyer only needs to appear again at the bank office and pick up documents confirming the ownership and registration of the mortgage.

So, we told you step by step how to purchase a residential property in a mortgage. Do not be afraid of the complexity of the procedure, and the main thing to remember is that the bank is no less interested in you purchasing housing using the received credit funds, therefore credit manager will help and guide you in every possible way.