Banks that are the easiest to get a mortgage from

In recent years, the supply on the real estate market in Russia has increased significantly, and therefore the question of which bank is better to take out a mortgage in 2020 is asked by every second buyer.
In order to make the right choice, you must compare the offers of several potential lenders . Let's look at this topic.

Mortgage 2020: its features and trends

Over the past decade, the real estate market has experienced instability due to factors such as inflation and low purchasing power.

Plus, to top it all off, in 2020 an economic crisis broke out, which affected not only the financial sector of the state, but also other industries, including the construction industry. For many citizens, buying real estate was associated with exorbitant expenses, and cherished squares turned into great luxury.

To change the situation in the mortgage market in 2020, the Central Bank significantly reduced the base lending rate . The government of the country, in turn, has introduced several programs that have a beneficial effect on the growth of long-term lending in the country. After this, a mortgage loan became easier for consumers financially, but the same cannot be said about registration - due to great demand, banks began to put forward more stringent requirements for borrowers . Since the quality of the loan portfolio has decreased somewhat due to the low solvency of some clients, some restrictions have been imposed on mortgage loans - they can only be taken in national currency, and a thorough check of all transaction documents has been introduced.

Today, the housing lending rate in the country has stopped at an average of 10%. I would like to note that if you decide to take out a mortgage to buy a home, then you should do it because by waiting for the best moment, you may miss out on the profitable offers that currently exist.

This is supported by the small number of developer projects, as well as the regular increase in the exchange rate of foreign currency, which in turn significantly affects the cost of any product, including real estate.

Useful video:

Choosing a bank: nuances when choosing a mortgage program

Main points influencing the choice of a mortgage program.

So, you have finally decided to take out a mortgage for your home. If you want to get the most favorable loan, you should follow the following tips when choosing a bank:

• The loan should be taken out for a longer period , so you will avoid a strong blow to the family budget when paying the next payment.
• Choose a loan with payments that will not exceed 30% of your family income .
• When choosing a bank lending program, pay attention to the possibility of early closure of the loan without various penalties and fines.
• When applying for a loan, be prepared to pay a down payment (from 10 to 50 percent of the total cost). You should not look at this with skepticism - this condition of banks allows you to receive some benefits from them.
• When getting acquainted with the conditions of banks, be sure to read (or better yet, consult a lawyer on each point ) their mortgage lending agreement.
• Don't chase a low interest rate - mostly banks that advertise it have additional conditions in their arsenal that may affect your solvency in the future.
• Don’t forget to check with your bank about any additional mortgage costs – commissions and insurance.

Useful video:

Collection of documents

The list of documents can be obtained after a positive decision on the application is made.

Along with your application you will need to submit:

Passport of a citizen of the Russian Federation, a document confirming the borrower’s income and an additional document of your choice (SNILS, driver’s license).

If the application is approved, the borrower needs to prepare the following documents:

When attracting guarantors, the same documents are required from them.

Documents for collateral (most of which can be obtained from the seller):

Within a few days, the bank verifies the submitted documents. It should be understood that the bank may refuse to issue a mortgage without giving reasons.

If the bank refuses due to the selected housing not meeting the established requirements, the borrower will need to select another housing that will meet all the bank’s criteria.

A mortgage is a tool that allows you to purchase your own apartment without a lengthy process of accumulating funds.

For comprehensive mortgage insurance, see the article: mortgage insurance.

Mortgage lending is beneficial due to the fact that throughout its entire term, which is, on average, 15 years, the cost of housing does not change, regardless of the economic situation.

Video: How to get a mortgage for an apartment:

(No Ratings Yet)

Which bank to choose for a mortgage to buy real estate?

In many banks, the loan range is represented not only by retail products, but also by long-term loans such as mortgages. Each banking structure offers to take out a loan under certain conditions.

But how can you understand which bank offers the best conditions? To make it easier for you to understand this issue, we tried to find out which banks provide loans for the purchase of housing, their conditions and requirements. And here's what we found out.

Mortgage offer at Otkritie Bank

The bank offers good and loyal conditions to its clients who wish to take out a mortgage loan to purchase real estate in the amount of 500 thousand rubles to 15 million (and for residents of Moscow and St. Petersburg and their regions - up to 30 million rubles). The mortgage term can range from 5 to 30 years, however, the interest rate, depending on the chosen program, can vary from 9.35% .

Mortgage programs offered by Otkritie Bank.

The bank also offers to refinance already issued mortgage loans in the amount of up to 15 million rubles at an annual rate of 13.5%.

Mortgage at Tinkoff Bank

This banking structure works under an agency program with several other partner banks , which in turn greatly simplifies the process of applying for a mortgage loan. In addition, if you use the services of Tinkoff, you can get a loan with a rate lower than 1.9%.

List of Tinkoff bank partner banks for issuing mortgages.

The bank also has its own conditions, which provide good competition even to its partners.

Here you can get a mortgage loan up to 100 million rubles . The rate is one of the lowest - 10.5% , and the repayment period can reach 30 years .

Mortgage loan at VTB Bank

Although the bank offers a loan at a more expensive annual rate of 11.5%, it has several conditions and offers that make the loan more profitable:

• Reduced down payment threshold – from 10%.
• When making a down payment of 40% or more, the loan will be considered without a certificate of income.
• The bank offers assistance in obtaining a loan: real estate valuation, insurance and negotiations with developers.
• At the moment, the bank is offering a reduction in the annual rate , subject to the purchase of real estate from 65 sq. m. m.
• Bank lending is available even to foreigners.

Mortgage lending programs at VTB Bank.

VTB is also famous for its unique “Simple Mortgage” program, an application for which is processed using only two documents and in a short time. To do this, it is enough to provide a passport document and the Insurance Number of the Individual Personal Account of a citizen of the Russian Federation.

In addition to individuals, business structures can also apply for a bank loan.

Conditions of Expert Bank

This is a bank where lending is carried out according to the criteria put forward by the AHML of the Russian Federation. Here, every future borrower can choose the most suitable lending program.

The bank's conditions are rich in the presence of various discounts and benefits in registration. General conditions in this bank:

• Annual rate from 9 to 12% .
• The borrower's age is up to 65 years (military up to 45 years).
• Official registration at the last job should not be less than 6 months with a total work experience of at least 1 year .

Requirements for mortgage borrowers posted on the ExpertBank website.

How profitable is it to get a loan from Sberbank?

Sberbank of Russia is one of the largest banking institutions and for decades many clients have trusted it.

And this is not surprising, since this is where the borrower can get a loan on very favorable terms for him:

1. The bank's line of loan products is represented by several different mortgage programs, which everyone will find something suitable for themselves.
2. The annual loan rate at Sberbank starts at 7.4% - which is the minimum value in this area.
3. The presence of such state programs as “Maternity capital” and “Mortgage for the military” , the latter is in great demand due to preferential conditions.
4. The subject of a mortgage can be both real estate on the primary and secondary markets, as well as country houses.

Which banks provide mortgages against maternity capital?

If you want to use your maternity capital certificate to purchase housing with a mortgage, then you need to contact those banks that have developed special loan programs. Among these banks the following can be noted:

1. Unicredit . This bank has developed many mortgage programs with maternity capital. You can learn more about the conditions for obtaining a mortgage on the website.
2. Sberbank . The largest banking organization in Russia. A large share of shares is controlled by the state. Therefore, there are many programs using maternity capital.
3. VTB 24 . Another state bank. Here you can also get money for housing using a maternity capital certificate.

Need to know

When applying for a mortgage, consider the following:

• It is better to choose housing that is already ready for commissioning or is at the completion stage . The best option is real estate that can be easily sold in an emergency.
• The national currency is ideal for the loan , since due to sharp fluctuations in the foreign exchange markets, the mortgage amount can increase significantly.
• When deciding on a mortgage, you should consider possible scenarios - so be sure to discuss all the conditions with your family and co-borrowers.
• It is worth taking into account the charging of a loan servicing fee , which is set differently in different banks (from 1 to 4%).

Recommended video for viewing:

How to choose a bank for a profitable mortgage

To make an informed decision, it is necessary to comprehensively evaluate the following parameters:

1. Down payment (ID)
   . The organization compensates for its absence with other commissions, and the overpayment increases. The more PV, the lower the overpayment percentage will be. Therefore, it makes sense to save some money.
2. The interest rate
   . Today this figure varies between 9-13%. A more favorable interest rate is available for certain categories of borrowers or under a government support program.
3. Real estate insurance.
   Any bank is interested in the loan being repaid. Therefore, organizations offer to insure real estate and the life of the borrower. In some cases, the interest rate will be reduced if the client has agreed to such conditions. As practice shows, it is more profitable to pay annual insurance than to pay a loan at a higher rate. In addition, this is a certain “safety cushion”.
4. Possibility of early repayment
   . Some banks set restrictions on closing a mortgage earlier than a specified period. In case of early repayment, the client either reduces the loan term or reduces the interest payments to the bank.
5. Commissions
   . When applying for a mortgage loan, the client may face additional payments in the form of renting a safe deposit box, paying for maintaining a loan account, etc. The more commissions, the lower the interest rate.
6. Payment scheme
   . There are two types of interest accrual - annuity and differentiated. Each of them has its own pros and cons. The annuity scheme is considered the most popular.
7. Proof of income
   . The set of documents varies from bank to bank. The maximum amount and interest rate depend on the client’s solvency and its proof.

A serious approach to choosing an organization, consultation with an experienced specialist and a rating of the best banks for a profitable mortgage will help you successfully apply for a loan and repay the loan ahead of schedule.

Which banks have special programs?

First of all, I would like to clarify that special programs should be understood as special lending conditions that are designed for a certain category of borrowers.

Military mortgage

This program is available in many banks involved in mortgage lending. But Gazprombank offers the most favorable conditions for it : the loan amount is up to 2.25 million rubles , with an annual rate of 10.6% and a 20% down payment.

Pay attention to the package of documents required to obtain a military mortgage at Gazprombank.

Maternal capital

At the birth of a second child, the family is credited with a certain amount, which some banking institutions can use as a down payment on a mortgage.

This offer is especially beneficial at Sberbank - this type of lending is issued there at an annual rate of 10.4% .

Conditions of a mortgage with maternity capital in PJSC Sberbank.

Mortgage for a young family

Young people living in marriage and whose age is not more than 35 years old can count on participation in a special lending program.

So in Sberbank and Rosselkhozbank, such a mortgage is at a rate of 10.25% per annum.

Mortgage refinancing

Again, Sberbank occupies a leading position in this area. You can refinance a loan with proof of income at 10.9% . The loan amount is also issued from 500,000 rubles .

Advantages of refinancing a mortgage at Sberbank PJSC.

No down payment

For that category of borrowers who do not have funds for a down payment, it is worth contacting Metallinvestbank . True, the interest rate on the loan in this case will be 14% per year .

Conditions for issuing a mortgage without a down payment at Metallinvestbank.

Mortgage conditions in 2020: table of bank interest rates

Note! Interest rates are subject to change. They can be affected by various reasons.

Customer Reviews

Anatoly, Moscow : “You shouldn’t always believe advertising - I was convinced of this from my own experience. Otkritie Bank, which actively advertises itself, does not fulfill its obligations - not only are mortgage rates inflated, but also to approve a loan you must be the owner of millions in income.”

Kristina, Novosibirsk: “Many thanks to Sberbank for their responsibility and pleasant cooperation. Thanks to the specialists of this bank, my husband and I live in a beautiful new apartment, designed under the youth mortgage lending program. The only caveat is that the documentation is too long.”

Evgeniya, Omsk : “We took out a mortgage loan from Gazprombank, bought an offer to refinance the mortgage from VTB Bank, and decided to transfer the loan there. The saga ended with the refusal of the bank, but for this they required various documents and certificates from us, for which we were sent to various authorities. Very unprofessional approach. In order to attract a client, advertising alone is not enough, guys.”