What do you need for a mortgage for an apartment? What documents will be required?

Thinking about buying your own apartment? Have you found the right option, but you do not have enough money? Or you decided not to invest a lot of personal savings, but use the credit service? Then the mortgage is what you need! What is it and how does it differ from consumer credit.

How does the mortgage differ from other types of credit?

The most important difference is the interest rate. Mortgage loans are much lower than for auto loans, consumer loans, etc. And this is very simple. As a rule, people take mortgages for quite large sums, because Real estate is not cheap. And interest on the loan is charged for the entire amount of debt. And if the mortgage rate was the same as for a consumer loan, people would not have enough life to pay cash on the loan. And then this debt would be inherited by their children. Because the amount of overpayments would exceed the amount of the mortgage by 3 or even 4 times.

For greater clarity, consider an example. Initial data: you want to buy an apartment in a mortgage for 5.000.000 rubles. You are not ready to make a down payment, but you are ready to pay 86.5 thousand rubles. If the mortgage rate was even almost the minimum rate for consumer loans, then you would have to pay 20 years for a mortgage, and you would have overpaid 315%, which is equivalent to 15.7 million rubles! ! That is, you would have paid the cost of 4 of your apartments !

Pay attention when you select a mortgage program for the loan period. That is, with our initial data, overpayment for 20 years is 315%, and if we increase the payment by only 2.7 thousand rubles, then the period will decrease by as much as 5 years! And overpayment will decrease by 91%! Do you feel what a global difference? !!

And with a term of 10 years and paying 98 thousand rubles a month, your overpayment will be 135%, because . 6.7 million rubles .

If you follow the trend, it becomes clear that for every 5 years of mortgage the amount of interest is equivalent to the value of your apartment!

But this is at a rate of 20% per annum. In our country, for mortgage programs, it is usually lower, and fluctuates within 13%. Let's make a calculation for similar terms and compare the result.

If you consider the period of 20 years, the monthly payment of 59.5 thousand rubles, which is 27 thousand lower than the rate of 20%. Do you feel what a difference in 7% is? The total amount of overpayments is 9.3 million rubles, i.е. 185% for 20 years. ? Do you see how great the difference is ?

With the reduction of the term for 5 years, the payment is increased by only 4.5 thousand, but the overpayment is reduced by 55%! ! And it is 6.5 million rubles !

With a credit period of 10 years and payment of 75.3 thousand rubles, overpayment will be 81%, namely 4 million rubles. . As you can see, the difference is very tangible .

. For clarity, we will display all the results in the summary table, so that you finally understand why mortgage programs have a lower rate .

• The package of documents that is needed for mortgages is significantly different. So, let's consider what documents are needed for a mortgage for an apartment.
• The passport of the borrower.
• A certificate of income, as well as the organization in which you work (a copy of the work record book).
• Documents confirming the pledge (if any).

What do you need for a mortgage for an apartment? List of documents

When you involve a co-borrower or a guarantor, the list of documents is expanded. They will require the same documents as you do. Those. Their passport, and also the document confirming the income (as a rule, it is the certificate 2 НДФЛ).

You may also need a number of other documents. More detailed information will be told to you by the bank's employees, because each case is individual, there are a lot of mortgage programs. So, you need to collect the package of documents that is right for you. The reference data is taken from the initial data.

Requirements for the borrower

In each bank they are different, but there are a number of criteria that are the same in all banks. Let's consider them:

1. The age. In many banks, the minimum age for processing the application is 21 years. And this is understandable. As a rule, in this time period a person finishes an educational institution and has a certain length of service.

2. Work experience is the second criterion by which banks determine how reliable the borrower is. Minimum length of service at the last place of work should be at least a year. In addition, employees pay attention to the fact that the indicator of a person's reliability is the frequency with which he changes jobs. If a person does not stay anywhere more than 1 month, this fact can hardly indicate its reliability.

3. Credit history. Having a positive credit history will only benefit you. Because you have shown yourself as a responsible person and the bank is easier to approve you a mortgage loan.

So, let's sum up what it takes to take a mortgage to an apartment? A good credit history, work experience of at least a year and the borrower's age of 21+.

Mortgage and maternity capital

Can I use maternity capital to pay off mortgages and how? What do you need to buy an apartment in a mortgage? The use of capital to pay off mortgages is a common practice. Not many people know how to do this correctly. In some banks you can use it as a down payment.

To do this, you need to warn the bank's employees in advance that you will pay the first installment not in cash, but with a certificate. And also you need to collect an extended package of documents.

You will need to take some of the certificates from the Pension Fund, for example, a certificate of the status of your account. And some documents to submit to the Pension Fund, because Everything is carefully checked, because there are many cases where people just wanted to cash out their parent capital.

Money in the envelope when accounting for income - a myth or reality?

Some people get money from several sources of income. And it happens that a part of the salary is given to people in envelopes. How to be in this case? Since 2014, many banks have simplified the issuance of mortgage programs. That is why, you can provide the bank with a certificate of the established type, in which the employer will indicate the full amount of your income, along with premiums and any incentives. There are banks that issue mortgages in only two documents! But in this case it is necessary to have an ideal credit history, a long work experience in the organization.

What other costs should people consider that want to take a mortgage?

Do I need to insure an apartment with a mortgage? This issue is of concern to many borrowers. Yes, you need to insure an apartment. This is the demand of the bank and its "airbag". Because if something happens to the apartment, not all borrowers will have money to pay the mortgage and restore the apartment at the same time, then there will be late payments and other troubles.

Do I need an appraisal for an apartment with a mortgage? This issue is of interest to many borrowers. Yes, this procedure must be carried out, and after assessing the apartment to provide documents to the bank.

How to choose an apartment?

Initially, you need to decide what kind of housing you want. Secondary or want to participate in shared construction, or are ready to buy a new apartment in a finished house, but already with decoration. Based on your wishes, you will need to select a mortgage program. As a rule, such programs differ in terms of conditions. And the main criterion is what kind of housing the borrower wants to buy.

If you decide to participate in shared construction, be sure to study the feedback on the company, which is a developer. To be sure that the apartment will be rented on time, and you are not trapped.

Want to take a mortgage in Sberbank?

What do you need for a mortgage for an apartment? The answer to this question you can find on the official website of the bank. Instruction: Sberbank - mortgage - what documents are needed for an apartment?

• Agreement of Intent.
• Your passport.
• 2 Personal Income Tax.

Please note that only confirmed borrower's incomes are taken into account in this bank, so if you have not received a formal income, it is better to purchase a surety or guarantors (there may be several of them). Also you can attract a co-borrower. It will require the same package of documents as you do.

Have you purchased an apartment in a mortgage? What you need to know

Every citizen of the Russian Federation once in a lifetime has to return part of the money spent on buying an apartment, paying interest on mortgages and repairing the premises. How can I do that? You need to return to the tax service once a year a certificate of income, documents confirming the availability of mortgages and others. With a more detailed list, you can find it on the IFTS website or directly at the inspection itself.

How much money will be returned? You will be refunded the full amount of taxes that you paid in the previous year. Note that this amount has a limit. You can return a maximum of 260 thousand rubles for the entire period and only 1 time in your life.

What documents do you need for an apartment seller for a mortgage?

• Certificate of state registration of law.
• The document on the basis of which this right has come.
• Extract about the absence of debt for utilities.

How to apply for a mortgage?

What you need for a mortgage for an apartment we have already figured out. Now it remains to understand how to apply for it. What do you need for a mortgage for an apartment?

1. Select the property and the bank in which you want to get a loan.
2. Contact the selected bank for advice, selecting the necessary program and for obtaining a list of documents that must be provided.
3. Collect the package of documents and contact the bank to apply.
4. After the approval of the application, sign a mortgage contract with the bank, and with the developer a contract of sale.
5. Obtain a certificate of state registration of the right with encumbrance.
6. Insure her. This can be done in any company with which your bank cooperates. With the list you can find either on the bank's website or get it in the bank's branch. And also this information can be given to you by phone hotline.
7. Enjoy your own apartment!

What you should pay attention to?

1. The interest rate. Often, bank employees go on tricks and print out a contract with a higher interest rate in order to earn more money on this transaction. They expect that you will not read. . And if after you notice the error, you can not prove anything .

2. For the loan period and the amount of the monthly payment. Because the longer the term, the greater the overpayment, as we have seen before. Be careful! Read all the documents. Ask everything that you do not understand. Do not be shy. If something is embarrassing, you can always call the hotline number and clarify all the questions.