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Mortgage procedure - how does the transaction work? Step-by-step instructions for buying an apartment in a mortgage. Features with different purchase options

Today we will look at step-by-step instructions for buying an apartment in a mortgage.

Many put an equal sign between slavery and mortgages. However, no one says that renting a house or sitting on the neck of relatives is slavery. Undoubtedly, it is better to make every effort and have your own full-fledged housing than to move from apartment to apartment all your life.

mortgage is the opportunity to fulfill your dream - your own living space. People become "slaves" of mortgages not because they are bad in themselves, but because they use them incorrectly.

Step-by-step instructions for buying an apartment in a mortgage

1. Opportunity assessment

Always try to assess your capabilities adequately. You can, of course, sit for six years on " doshirakakh”, but to earn money for a three-room apartment in the city center, but is there really a need for this? Is the purpose of your life is to get an apartment, and not the desire to live in comfort? Are you able to live on three thousand rubles a month for the sake of one of your dreams and deny yourself everything? Will buying an apartment with a mortgage make you happier?

The main rule that you should be guided by when taking out a mortgage is the ability to pay it off. A mortgage on an apartment should not be the lion's share of your income, cutting your budget to a living wage. There is no need to deprive yourself of all the blessings of life. Yes, you can save, but within reasonable limits. Mortgages should not be your headache.

Mortgage payment must be MAXIMUM 30 percent of your monthly income minus utilities, taxes, rent, and so on. Soberly evaluate your income, and the amount that you are willing to pay, without denying yourself the things you are used to. Yes, you will have to cut your budget one way or another, but make sure that this procedure is as painless as possible. Buying an apartment in 2016 especially obliges to save.

2. Reasonable time

Many banks are able to offer you a loan for up to thirty years. And some even up to forty. And if you believe the statistics, then mortgage for an apartment in Russia take an average of fifteen years. So, long-term loans, for a period of 10 years or more - this is the very slavery that everyone talks about, remembering the mortgage.

You do not know what can happen to you in these ten years. Perhaps you will not need this apartment at all. It's a nightmare! And that insane overpayment that threatens you during this period? Even if you buy an apartment with a mortgage at 12 percent per annum, you will have to pay 70% over the amount you took! The optimal term for which it is worth taking a mortgage is 7 years. If you are not sure that you are able to pay the right amount for a given period - take 10.

3. Adequate rate

An adequate rate is one that does not turn you into a "credit slave". The overpayment should not be more than one hundred percent of the loan amount. The optimal interest rate in this case is 12% per annum. If you need a short-term loan, then buying an apartment in a mortgage at a high interest rate is possible.

The interest rate depends on:

Loan term: a long term means a high percentage. This is one of the reasons why a mortgage on an apartment should be short-term.
from the currency of the loan. If you take out a loan in dollars, the rate will usually be much lower.
From insurance. If there is no insurance, the mortgage on an apartment will cost you more.
From the method of confirmation of income. will reduce your interest rate by an average of 2 percent, when compared with the rate when providing a certificate in the form of a bank.

4. Early payments

Mortgage for an apartment should be such that it is possible early repayment payment. According to statistics, Russians take out a mortgage for an average of 15 years, and the average period for which they pay off the payment is 7 years. With early payment, you reduce the overpayment that you are required to pay on the interest of the loan.

However, it should be remembered that denying yourself everything for the sake of early repayment of the loan is unacceptable. Measure your strengths, plan your income and expenses, pay the obligatory monthly amount of the loan payment, and only if after all the expenses you have an amount for early repayment of the debt, be sure to pay it.

Keep in mind that the sooner you start repay a loan early– the better for your budget. AT this case you will win, because the overpayment will decrease by a fairly significant percentage, and if you decide to repay the loan before the due date, but after half the credit time, then due to inflation, you will not particularly feel the difference in the amount of the payment. Try to pay off the mortgage immediately, and spend the funds released after the payment on something you also need.

You also have a choice, you can take out a mortgage with early repayment and a reduction in the loan term, or the amount of payment per month. If you choose the first type, then the amount you overpay will be noticeably reduced. If your choice falls on a reduction in the monthly payment, then the amount of payments will “strangle” your budget less every month. It depends only on your individual considerations, as well as on the amount of the loan - if the mortgage does not stifle your budget, then take a reduction in the term, and if it takes the lion's share of your budget - choose the opposite option. not as difficult as it seems.

5. Airbag

In order to be ready for any force majeure situation, you need to have a “safety cushion”, which is the amount on which you can live on average for six months, without limiting yourself in any way and paying your mortgage regularly. If you are afraid prolonged illness or an upcoming crisis, then increase the pillow so that it lasts for about a year. Just don't overdo the accumulation. If you still have money after the usual monthly expenses, then give half to early repayment of the mortgage, and save the other half. You will even breathe more comfortably from the realization that you are insured against any non-standard and force majeure situation. Buying an apartment with a mortgage in 2016 may become one of such cases, because with this economic situation it is difficult to predict anything.

6. Comfort bank

It is advisable to choose a bank that will be convenient for you, because you will have to have contact with him every month, and the less nerves and time these contacts take away, the better. Signs of a comfortable bank:

Convenient location. The bank office should be close to your home. The maximum is from work. This option is undesirable, since you are more likely to change your place of work than your place of residence.
Convenient banking hours.
Decent service and qualified staff.
Electronic queue. More precisely, its presence.
Lack of long waiting in kilometer queues.

If you have free funds to make a payment to a rhinestone for two or even three months, take advantage of this opportunity. The less you have to contact the bank, the less stress and more free time you will subsequently bring buying an apartment in a mortgage.

7. Worthy goal

You must clearly understand what this mortgage is for. Do you really need it? Buying an apartment in 2016 - is this risk worth it during the crisis? And if so, then after realizing this, it should become much easier for you to endure all the difficulties associated with the payment, because it is the key to success in any area.

Well, that's all the basic rules, thanks to which buying an apartment on a mortgage will become a feasible burden for you, and will not make you hate everything and everyone around you, but will bring you joy and motivation for personal and.

Last update February 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, in 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 not able 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 database 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. The market value of collateral is the starting point for determining the amount of a mortgage loan, and therefore the valuation of collateral is an important indicator in 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 estimates 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-NDFL;
    • Certified copy work book;
    • SNILS - insurance certificate of state pension insurance
    • Military ID for males of military age;
    • Education documents (certificates, diplomas, etc.);
    • Marriage/divorce certificates and marriage contract(in the presence of);
    • Birth certificates of children;
    • Certificate of registration in tax authority individual at the place of residence on 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 for a mortgage of 2,500,000 rubles, both of them work (total monthly income of 50,000 rubles), no children, age 30. They were refused by the bank, because the income did not allow them to get a loan - the living wage for each is 15,000 rubles. Solution: take a smaller amount - 1,500,000, or look for an additional co-borrower, not retirement age, with salary at least 25,000 per month.

If capable adults who are not borrowers are registered in the collateral object, 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 mandatory deposits, determined as a percentage of the mortgage loan amount.

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 the 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.
For example, the loan agreement may provide that in the event of early repayment of the loan, the borrower pays 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 the receipt of funds and the acquisition of the selected property. The transfer of money is the key point of the transaction. 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 Federal Service 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 transaction not to take place.

Insurance and mortgage transfer

To conclude a mortgage agreement, you must go through the procedure compulsory insurance pledged immovable property from the risks 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 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 mail notification on 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 finds a job before the trial or even during the court session, 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. However, carefully read all the questions and answers to the article, if a similar question has a detailed answer, then your question will not be published.

87 comments


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 lender financing 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.

preview

The preliminary stage can also be divided into 3 parts. The first will be to find a suitable loan offer. It is assumed that before going to the bank, you are at least a little familiar with the general situation in the mortgage market, the average rates and conditions that you can be offered. This can be done on thematic sites, the resources of the banks themselves, mortgage brokers or forums.

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

This stage is also worth highlighting separately. It involves the process of collecting documents and submitting them to the bank for consideration. There will be many documents
- proof of identity, marital status, etc.;
- evidence of income;
- for purchased housing.

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

And here it is impossible not to say that even with prior approval, you do not need to stop at this bank. You can submit the same package of documents (photocopies) in 2-3 financial structures. This will save time in case of failure of one of them, because each bank can consider documents for a mortgage for several weeks. And if you get approval from all creditors, you will get the opportunity to choose the most favorable conditions for you.

Directly design

Making a mortgage loan is not just signing a loan agreement, which in itself could be carried out as a separate stage. The registration includes the assessment and insurance of the purchased property, the coordination of the clauses of the contract, its signing, and the registration of the transaction in the relevant authorities.

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

If the process seems too complicated for you, you can always ask for help. As already mentioned, when choosing real estate, you can contact realtors. Most of these specialists are familiar with the requirements that banks put forward for mortgaged housing, and this is an additional time saving.

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 be found so far only in major cities, 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