Sberbank of Russia in 2019 raised interest rates on mortgages. The increase affected both loans for ready-made housing (see rates for secondary housing) and new buildings.
Today, you can apply for a mortgage loan for a new apartment at a rate of 8.5% per annum. But in order to get the minimum percentage, you must comply whole line conditions.
In this review, we will try to explain the details of obtaining a mortgage at Sberbank for housing under construction, and also find out how to get the minimum rate.
Mortgage for the purchase of housing under construction: features
Sberbank in 2019 offers a whole range of mortgage programs. The main ones are:
√ Acquisition of finished housing (apartment, residential building or other residential premises in the secondary real estate market);
√ Purchase of housing under construction (apartment or other residential premises in the primary real estate market).
Both programs provide the opportunity
> use maternity capital funds for the down payment or part of it (mortgage + maternity capital), as well as
> get a government-supported loan (for families with children).
We will dwell on them below, and begin our consideration of the conditions and interest rates of Sberbank mortgages for new buildings with a short overview of promotions. With their help, you can just reduce the interest a little.
Reduction of rates on mortgages of Sberbank for new buildings
Today, the bank has several promotions for mortgage loans that allow you to reduce the rate.
1. Online registration discount. The Bank has launched a special mortgage offer for ready-made housing for customers who use the Electronic Registration service. The discount will be 0.1% per annum.
2. developer discount. The reduction of the Sberbank mortgage rate to 2% applies to the purchase of housing from certain developers with a loan term of up to 12 years.
Sberbank mortgage for new buildings in 2019
This mortgage program is intended for the acquisition of an apartment under construction, a residential building or other residential premises in the primary real estate market.
Sberbank mortgage conditions for new buildings
> Minimum amount: from 300,000 rubles
> Max. The amount must not exceed the smaller of:
- - 85% of the contractual cost of the residential premises being financed;
- - 85% of the appraised value of another property that is pledged.
> Term: up to 30 years / up to 12 years under the rate subsidy program by developers.
> Down payment: from 15% / from 50% for clients who did not provide proof of income and employment in the case when the purchased property was built with the participation of the Bank's loan funds.
Sberbank mortgage interest rates for new buildings
Valid for paying clients, or in the case when the acquired property was built with the participation of Sberbank credit funds, taking into account the "Electronic Registration Service":
Allowances:
- + 0.2% - with an initial payment of 15% to 20% (not including the upper limit);
- + 1.0% - in case of refusal of life and health insurance of the borrower in accordance with the requirements of the Bank;
- + 0.3% - for clients who do not receive a salary on a card account or a deposit in Sberbank;
- + 0.3% - for clients who did not provide proof of income and employment in the case when the acquired property was built with the participation of the Bank's loan funds, subject to an initial payment of 50%;
- + 0.1% - in case of refusal from the "Electronic Registration Service".
How to apply for a mortgage on new buildings in Sberbank
In short, you can say this. To get a mortgage for primary housing at Sberbank, the client needs to collect the necessary package of documents and contact the bank:
- - at the place of registration of the borrower or one of the co-borrowers;
- - at the location of the property to be credited.
Sberbank promises to consider a loan application within 2-8 working days from the date of submission of a complete package of documents. Money can be received at a time or in installments.
But if you modern man and save your time, some of the actions can be done via the Internet.
How to apply and get a decision
First . In order not to make unnecessary movements, find out in advance whether you meet the requirements that Sberbank imposes on borrowers.
Requirements for borrowers
Age. Citizens of the Russian Federation aged at least 21 years old can apply for a mortgage for a primary property in Sberbank today. It is also important that at the time of repayment of the loan you are no more than 75 years old.
Experience. It also requires at least 6 months of experience at the current place of work and at least 1 year of total experience over the past 5 years (does not apply to payroll clients of Sberbank).
No more than 3 co-borrowers can act as co-borrowers individuals whose income is taken into account when calculating the maximum loan amount.
Second. If you meet these requirements, then it makes sense to move on. To obtain a loan, you will have to collect a whole package of documents.
Documents for obtaining a mortgage
To consider a loan application for a mortgage loan for ready-made housing, you must submit the following package of documents to the bank.
- > application-questionnaire of the borrower/co-borrower;
- > passport of the borrower/co-borrower with a registration mark;
- > a document confirming registration at the place of stay (if there is a temporary registration);
- > documents confirming the financial condition and employment of the borrower/co-borrower (See full list in pdf format).
Documents that can be provided after the approval of the loan application:
- - documents on the credited residential premises (may be provided within 90 calendar days from the date of the Bank's decision to issue a loan);
- - Documents confirming the availability of the down payment.
Third . Let's say you think that you can provide all these documents to the bank. Check your financial possibilities. Calculate your loan with a mortgage calculator.
Mortgage Calculator
Fourth. Submit your mortgage application online. You can do this on the DomClick website from Sberbank. There you can register in your personal account, consult with a specialist in a chat, and even get approval for a mortgage right on the site.
Fifth. Choose an apartment in a new building. A list of accredited new buildings is available on the DomClick website.
Sixth. Make a deal. If possible, it is better to do this using the "Electronic Registration Service" from Sberbank. You can sign a loan agreement and send documents for registration in this way even without visiting Rosreestr or the MFC.
Seventh. Deposit money through the "Secure Payments Service" from Sberbank. This is a convenient way of non-cash settlement for a property between the buyer and the seller without additional visits to the bank.
In 2017, the state program to support mortgage lending was terminated. It was she who became an incentive for the development of the construction market and the reason for lowering the interest rate on mortgages. Since August, for example, a 7 percent mortgage from Sberbank of Russia has been available, and loans from other financial institutions have become more attractive. In this regard, Russians are interested in the possibility of buying an apartment at 7% per annum, people want to know if this is possible, in principle, and what will be needed to get a "cheap" loan.
What conditions does Sberbank offer
You can get a loan at seven percent only if you buy an apartment in a new residential complex, which has been accredited by the main financial institution Russian Federation. Several construction companies cooperate with the bank, respectively, the offer does not work on the "secondary". While the reduction of the average mortgage rate to 8% in Russia is scheduled for the second half of 2018, Sberbank already provides an opportunity to lend at 7%, which many Russians doubt. Meanwhile, the conditions for granting a loan are posted on the website of the financial institution. on the most favorable conditions:
- To buy an apartment, only Russian rubles should be used, so it will not work to get a loan in foreign currency.
- An application approved by the bank can only be valid for 90 working days, after which it is canceled.
- All payments are made through letters of credit.
- To reduce the burden on the buyer and reduce the amount of the monthly payment, it is divided into two parts.
- The minimum mortgage amount is 300 thousand rubles, while the upper limit of the purchase price is not limited.
- It is impossible to buy an apartment without a down payment, while the borrower is obliged to pay 15% of the price of the object, and if the mortgage is issued according to two documents, this amount increases to 50%.
- It will take 7 years, or 30 years, to repay a loan at 7.4%, but in this case interest rate increases to 9.4%.
Among the mandatory conditions for lending, it is also worth highlighting the fact that the mortgage is secured by the pledge of the object, while the possibility of registration is not even discussed. insurance policy- this must be done without fail. Up to 3 co-borrowers can be involved in obtaining a loan, while the spouse (even without income) is included in their number. The bank's specialists claim that the program does not involve any hidden payments, but is it realistic to get a mortgage at 7% - a question of interest to many Russians who want to improve their living conditions as soon as possible.
Requirements for the borrower
In fact, mortgages at 7 percent today are a reality, and many citizens of the Russian Federation from different regions of the country have already made sure that this is not a myth. Meanwhile, it is not easy to reduce the interest rate, for which, firstly, the borrower must meet certain criteria, and secondly, find the necessary object and choose the right developer. We propose to consider the factors affecting the decrease or increase rates up to 7.4 percent:
- The developer must be accredited, and you can find out using the information provided on Domclick. This will help reduce the rate by 2% per annum.
- Another tenth of a percent, the rate will be lower with electronic registration.
- The burden for payroll card holders is reduced by half a percent.
- Borrowers who refuse to take out an insurance policy will have to pay 1 percent more.
Thus, having weighed all the "pros" and "cons", the bank's specialists will decide on the advisability of providing a loan for best conditions, or the borrower may only qualify for a mortgage at a maximum rate of 11% per annum.
If all measures to reduce the percentage to the minimum value have been taken, you will have to submit some documents, without which the possibility of obtaining a loan is reduced to a minimum.
What documents are to be prepared and what requirements the borrower must meet
Only those who are ready to submit a number of documents can apply for a 7 percent mortgage from Sberbank. First of all, this concerns certificates confirming the income of family members, without which it is not realistic to get a loan. Those who do not confirm the existence of a stable income will have to rely on a loan at 8.5% per annum, and then if they buy an apartment from an accredited developer, and if they pay half the cost of the object. As already mentioned, you can reduce the rate by 0.1% by filling out a loan transaction by bank employees online.
Remember! For the "secondary" in Sberbank, even if you pay 50% of the asking price, the rate is 10.5% or 10.4% (when ordering via the Internet).
The ideal borrower who may qualify for credit at a rate of 7.4 points is a citizen of Russia - this is the main thing. The applicant must also have a crystal clear reputation as a borrower, receive a salary on a Sberbank card, and the loan must be processed in in electronic format. Russians aged 21-75 years old, with at least 6 months of work experience in the last place, can count on this. The following documents provided in a timely manner will speed up the lending process:
- passport proving the identity of the borrower;
- another document to choose from - it can be a driver's license or a military ID, for example;
- a copy of the TD or an extract from the work book, which is a confirmation of the presence of a permanent job;
- for non-salary clients, you will need a certificate confirming income;
- if a third-party real estate object is used as collateral, it is necessary to provide facts confirming the right to own the collateral property.
The package of the above documents is an addition to the application and questionnaire. They will have to be filled out online or at the bank office. After receiving approval from the bank, within 90 days, you will have to submit an agreement for an apartment concluded with a developer accredited by Sberbank. The client of the financial institution must also confirm the seriousness of his intentions by providing evidence of the availability of an amount sufficient to pay the down payment. This can be an extract from a bank account, a certificate for maternity capital, and “parental” funds can also be used for these purposes, another document.
Important! The requirements for co-borrowers do not differ from those that the main borrower must meet.
In Russia, a program is being implemented to help young families who can also qualify for a soft loan at 7.4% per annum. To obtain it, you will have to additionally prepare certificates of marriage and the birth of a child, a certificate of financial situation.
The sequence of steps for obtaining a mortgage online
To take advantage of the "delicious" offer in the form of a mortgage at 7 percent, you must first find an object that meets the requirements. Firstly, it must be a new building, which is being built by an accredited developer, and you can find a list of suitable objects by going to Domclick. Secondly, the borrower must prepare a document on the cost of the apartment and an agreement with the developer. We offer a sequence of actions that will have to be done on the Domclick website after choosing an investor:
- Calculate the cost of a mortgage, and the project provides for such an opportunity. You will have to indicate in a special form the real value of the object, the amount of the down payment and other necessary data.
- You can apply by registering Personal Area into which all documents will be loaded. Here, the applicant for a loan will be asked to choose the nearest branch of the bank.
- After 5 days, check the status of the application, drive to the indicated office to draw up the contract, in case of a positive resolution of the issue.
Domclick site administrators have made it easier to apply for a loan online by offering Sberbank customers mobile app. It is easy to use, while the functionality does not differ, in practice, from the software used to work on a personal computer. By the way, when applying for a loan online, you can use other options, including the possibility of ordering an independent examination of the object, and bank employees can, at the request of the client, assist in ensuring the security of the transaction carried out by bank transfer.
Possibilities of registration of an electronic transaction
One of the conditions for obtaining a loan at a minimum rate, as already mentioned, is electronic clearance applications. In this case, a bank employee using the Domclick system can pay the state fee on behalf of the client in a matter of minutes and organize the issuance of electronic signatures. Without the participation of the applicant, the necessary agreements will be concluded, and the data for registering the transaction will be sent to Rosreestr.
The consequence of such actions will be the transfer of ownership and the executed contract of sale. All documents, including a certificate of registration in the real estate register, will be sent by employees of the financial institution to the client's email. The cost of such a service is 5.5 thousand rubles, but in this case the borrower not only receives a bonus in the form of a 0.1% reduction in the interest rate, but also saves his time.
With rates of 7-8%, which is significantly lower than the key rate of the Central Bank of the Russian Federation - 8.25% per annum.
A number of developers in Moscow and the region announced the possibility of obtaining a mortgage loan under the AHML program at 6.45%. Sberbank, the market leader, offers loans at a rate of 7.4% under the New Buildings program.
Such phenomenally low interest rates for Russia and Moscow are low only for us. In Europe, according to the European Central Bank, the average mortgage rate for 10 years in August 2017 was 1.94% per annum. The base interest rate remains at 0%. In Russia, according to the Central Bank of the Russian Federation, the weighted average rate on loans issued since the beginning of the year is 11% (for comparison: in 2006 it was 14.9%).
For 10 years, the European borrower pays the bank 20% of the cost of the apartment, and the Russian - 100%.
AHML proposes changes
Not so long ago, VectorStroyFinance announced the possibility of obtaining a mortgage loan under the AHML program (Agency for Housing Mortgage Lending) at 6.45%.
At AHML, at the request of CIAN, they clarified: indeed, under the mortgage programs of the agency, through its partners, it is possible to issue a mortgage both with a fixed rate (from 9%) and with a variable one. The variable rate depends on the inflation rate and changes quarterly. For the 4th quarter, the AHML variable rate is 6.45% per annum. If inflation rises above the current level, interest rates will also rise. But when the rate changes, the monthly payment will remain fixed, the loan term will change (increase). "This excludes the risk of rising costs for servicing a mortgage loan for the borrower," explained the AHML.
Once again: such a low rate depends on the level of inflation. What it will be in the next quarter or in a year is unknown. And how many years as a result will have to pay on the loan - is unknown.
The fixed rate offered by the Agency's programs is much higher - from 9%.
AHML - option "Variable rate"
Rate: 6.45% - Q4 2017;
Loan term: from 3 to 30 years;
Initial payment: from 30%.
AHML program "New building"
Interest rate
9.00% - with a loan amount of up to 50% of the cost of the apartment;
9.25% - with a loan amount of 51-70% of the cost of the apartment;
9.50% - with a loan amount of 71-80% of the cost of the apartment.
Developer in the role of the state
Where does the market offer loans with rates below the key rate of 8.25%? Banks, of course, will not operate at a loss. The difference between the cost of money and the interest rate for the buyer of new buildings was assumed by the developers.
The program for subsidizing mortgages by developers operates by analogy with the state program, which existed from March 1, 2015 to January 1, 2017. There are also differences.
In the case of the state program, the state compensated the bank for the difference between its rate and the rate for the final borrower. The bank rate is usually equal to the sum of the key rate and the interest on top, on which the bank itself earns. Until 2017, the state subsidy for transfers to banks was calculated as the difference between the key rate of the Central Bank of the Russian Federation, increased by 2.5%, and 12%.
The state program to support preferential mortgages has ended, and to stimulate demand, many developers, together with banks, have developed similar programs. Now developers are compensating banks for income that they are forced to lose due to an additional reduction in interest rates.
Preferential conditions do not apply to all projects and do not last long - a year or two. It is for this period of time that the amount of payment for the borrower will be below the market average. After that, the conditions of one of the standard programs usually begin to operate.
Discountversusmortgage subsidies
You can consider such programs as a marketing tool. In fact, a preferential mortgage is an analogue of a developer's discount on apartments in new buildings, only this discount is not given immediately, but is stretched over a certain loan period.
“As a rule, developers offer subsidized rates instead of direct discounts,” says Natalya Kruglova, CEO of Metrium Group. - Simply put, they give the buyer a choice: get a one-time discount on an apartment or a discount on monthly mortgage payments. As a rule, buyers choose the first option. According to Gazprombank, about 5-10% of buyers of new buildings choose to subsidize the interest rate.
According to Rustam Arslanov, director of the sales department of the Granel Group of Companies, it makes sense to choose subsidies if the buyer takes a mortgage for a long period - from 20 years. “Then he refuses the 4-5% discount and benefits from a long-term mortgage,” he notes. If the client expects to repay the loan in 5 years, it is more profitable to get a discount from the developer.
There are also programs of large banks with b about longer terms of preferential credit conditions. For example, Sberbank has a program where the developer subsidizes the mortgage lending rate, “however, this is limited to 7 years,” notes Dmitry Usmanov, commercial director of MIC Group. That is, if a client takes a loan for 7 years, the rate is reduced by 1.5% due to subsidies from the developer.
But developers also provide additional discounts not to the detriment of themselves. “Those 4% that we give to the bank are included in the price,” Rustam Arslanov shared. “This is how we win back in price and get the same economics for the company.”
Sberbank, New Buildings program
Interest rate: 9.5% per annum - a single base rate;
9.4% per annum - the rate subject to registration of the service of electronic registration of the transaction;
7.5% per annum - the rate under the program for subsidizing mortgages by developers;
7.4% per annum - the rate under the program for subsidizing mortgages by developers, subject to electronic registration of the transaction.
“Subsidizing a mortgage by a developer can be regarded as a temporary tool and a marketing move,” Dmitry Usmanov believes. Some developers subsidize the rate for a short period of time - a year or two - and use it simply to advertise projects, "each developer defines the subsidy limit differently," adds Kruglova.
Pavel Timoshenko, Head of Partner Sales, Mortgages and Subsidies at FGC Leader, notes that the subsidized rate is an effective tool for the developer to increase sales. “Many developers offer customers one choice: a subsidized rate or standard discounts,” he says. “Then the subsidized rate is really only an advertising tool and does not increase sales in any way, on the contrary, customers understand that they were deceived in advertising, where it was written about both discounts and favorable rates.” According to him, the company provides all customers with equal conditions.
In FGC "Leader" the share of subsidizing transactions is 30%. “Subsidizing is a tool, and you need to know how to use it,” Tymoshenko notes. “We have learned how to use this tool - sales have grown by 10-15%. Simple discounts will not achieve such a result.
According to Denis Kovalev, Deputy Chairman of the Board of Delta Credit Bank, the [mortgage] rate will decrease, “We are targeting a level of 8.5-9% by 2018.”
Natalya Kruglova predicts that next year the rate may drop to 9-9.5%. According to the forecast of the Central Bank of the Russian Federation, by 2020 the key rate may be 6.5-7% with inflation of 4%.
There is no consensus on subsidizing mortgages by developers. According to Denis Kovalev, subsidizing by the developer is more marketing ploy, "I think subsidized programs will disappear entirely." Aleksey Trubnikov, Head of the Department for the Development of Retail Products, Standards and Technologies at Gazprombank, on the contrary, is sure that the topic of subsidizing is not yet “overheated”, it has become a trend of recent years.
According to the Central Bank of the Russian Federation, the volume of loans issued during the year increased significantly: in October 2006 - 97,753 million rubles, in October 2017 - 1,285,259 million rubles.
The developer of the residential complex "Pobeda" supports new settlers and announces an additional REDUCTION of the mortgage rate! Thus, the rate will be a record 7.5% per annum!*
All mortgage programs have several common components, within which 2-3 key parameters. These parameters are decisive when choosing a mortgage program that is convenient, EXACTLY FOR YOU!
- down payment amount- determines the base interest rate on the loan
- interest rate surcharges- arise under special conditions, in most cases - this is the lack of a personal income tax certificate, unwillingness to insure, expedited processing of two documents, your rejection of other additional services bank, for example, from the electronic registration of the transaction
- reduction in interest rate- this is a tricky move by banks, possibly with a one-time payment of 1% to 4% of the loan amount on the day it is issued (relevant if you do not plan to repay the loan ahead of schedule)
This offer can be used by all buyers of ANY apartments in the Pobeda residential complex from November 1 to November 30, 2018.
If you take advantage of this offer, then the amount of your benefit will be from 150,000 to 300,000 rubles, depending on the chosen apartment and the loan amount!
In order to understand how to combine your desires with your abilities, answer these simple questions:
What is the price of the selected apartment?
. Down payment amount?
. For how long do you plan to take out a loan?
Using the Sberbank calculator, You will receive online data on the loan amount, monthly payment, required verified income, as well as the interest rate. Create a personal account, enter your details and submit an online mortgage application. It's fast and convenient.
An example of calculating a loan with a minimum down payment:
The cost of the apartment - 3 100 000 rubles
Loan amount - 2,600,000 rubles
Interest rate - 7.5%
Loan term - 7 years
Monthly payment - 39,884 rubles
*The offer is not an offer, valid from November 1 to November 30, 2018 or until the change in the base interest rates of banks. Conditions and tariffs can be changed unilaterally. Discounts for different promotions are not cumulative. In the period from 10/01/2018 to 10/30/2018 inclusive, the borrower is given the opportunity to obtain a housing loan at a rate of 7.1% per annum, subject to submitting an application to the name of the partner for a housing loan in the primary market under the lending program "Acquisition of housing under construction" subject to the terms of the “Promotion for Developers” and subject to an individual lending scheme with an individual interest rate on loans to individuals provided by the Bank for investing real estate objects being built and sold by developers / investors - partners of the Bank, as well as subject to registration of life and health insurance borrower/co-borrower. If the borrower/co-borrower refuses to renew the life and health insurance contract for the second and each subsequent year of the loan agreement, the loan rate for the specified periods will be 9.9% per annum. This rate cannot be combined with other promotions, special conditions and special programs Sberbank. For borrowers who have not provided documents confirming their financial condition and employment, the annual interest rate under this loan program will be 9.4% subject to the conclusion of a life and health insurance contract for the borrower, in case of refusal to conclude a life and health insurance contract for the borrower, the annual the interest rate will be 10.4%. The minimum loan amount is 300,000 rubles. The maximum loan amount is determined on the basis of an assessment of the solvency of the borrower/co-borrowers and the collateral provided, and should not exceed the smaller of the values: 85% of the value of the property being loaned or other property being pledged. Loan currency - Russian rubles. Down payment - from 15% of the cost of the housing being financed, while for borrowers who did not provide documents confirming the financial condition and employment, the down payment - from 50% of the cost of the housing to be credited. Loan term - from 12 to 84 months inclusive. The loan amount for a particular borrower is determined individually and depends on the term of the loan, the collateral provided, financial condition borrower. Additional costs: insurance of the life and health of the borrower, insurance and valuation of the property, issued as a pledge (tariffs depend on the individual characteristics of the borrower), notarization of documents. Loan collateral - a pledge of a loaned or other residential property that meets the requirements of the Bank. Borrower's liability for improper performance of the terms of the agreement, the amount of the forfeit (fine, penalty fee) or the procedure for determining them: in the amount of 9.75 (nine point seventy-five)% per annum (corresponding to the size of the key rate of the Bank of Russia, effective as of the date of conclusion of the agreement, from the amount of overdue payment for the period of delay from the date following the date of the obligation fulfillment, established by the agreement, to the date of repayment of overdue debt under the agreement (inclusive) 2) for untimely insurance/renewal of insurance of the real estate object(s) registered as collateral (in accordance with clause 4.4.2. of the General Credit Conditions), as well as in case of violation of obligations under clause 21 of the agreement (in accordance with clause 4.4. of the General Credit Conditions: in the amount of 1/2 of the interest rate established in item 4. of the agreement, taking into account the possible reduction in the interest rate for the use (loan or its change in accordance with clause 4. of the agreement), accrued on the balance (loan for the period starting from 31 (thirty-first) calendar days after the date established by the agreement for the fulfillment of obligations (a) until the date when the borrower provides the lender with documents confirming the full fulfillment of the violated obligations(s) (inclusive).The Bank has the right to refuse to issue a loan without giving reasons.The number of apartments under this offer is limited. detailed information for lending terms, call the help desk at 8 800 555 55 50 and 900 or visit www.sberbank.ru. Changing the conditions is made by the bank unilaterally. PJSC Sberbank. General license of the Bank of Russia No. 1481 dated August 11, 2015.
Buying your own home on favorable terms is quite difficult today. However, using the 2017 mortgage program of 7 percent from Sberbank, you can buy real estate in new buildings with a minimum financial burden. For the implementation of the operation, it is necessary to comply with the banking conditions.
Mortgage at 7.4 percent per annum in Sberbank
All citizens of the Russian Federation who apply electronically and submit a package of documents in accordance with banking requirements can receive the lowest percentage. In general, no difficulties should arise, since the 7.4 percent mortgage does not differ significantly from the standard procedure.
You can get the minimum interest rate based on the conditions put forward by the developer (this significantly affects the future interest). A mortgage of 7 percent in 2017 applies to all regions of the Russian Federation, but not everywhere it will be possible to complete a deal at 7 percent.
The main condition for obtaining a mortgage at a rate of 7.4 percent is the purchase of an apartment only from a borrower accredited by the bank for a period of not more than 7 years.
Program conditions
The loan does not apply to all mortgage products, but only to new buildings (ready/under construction). The terms of housing construction for mortgages at 7.4 percent per annum are not indicated, that is, there is no time limit.
Documents must be submitted within 90 days (calendar) from the moment the bank approves the client's application. The mortgage rate of 7 percent per annum applies only to qualifying participants.
The conditions are as follows:
- issued exclusively in rubles;
- the minimum amount is 300 thousand rubles;
- the maximum amount cannot exceed 85% of the value of the purchased housing in a mortgage at 7.4 percent per annum and 85% of the price of the collateral provided by the client;
- lending can be carried out for up to 30 years;
- the initial payment to receive a mortgage rate at 7 percent per annum at Sberbank must be at least 15% when submitting all the requested documentation and at least 50% without providing data on income and work experience;
- no commission fee for issuing a mortgage;
- insurance is mandatory.
List of documents
In order to conclude an agreement and participate in the mortgage program at 7 percent, you should prepare a package of papers:
- statement;
- passport with a registration mark (it is allowed to have temporary registration);
- any additional identity document (military ID, driver's license, foreign passport, etc.);
- a mortgage of 7 percent per annum is issued on the basis of certificates guaranteeing the financial solvency of the borrower and co-borrower (if any), his level of income and employment;
- Sberbank mortgage 7.4 percent requires documents for property, which will act as collateral.
It is worth remembering that a financial institution, when considering an application for participation in the program, may request additional documents or change the procedure for submitting general data. Such situations are not common, as a rule, these are special cases, but it is worth bearing in mind.
Requirements for borrowers
A mortgage at 7 percent per annum in 2017 is available to the following citizens of the Russian Federation:
- Age from 21 to 75 years. The upper threshold can be reduced to 65 years if the potential borrower does not provide information on profitability and other financial matters. The mortgage rate of 7 percent can be changed upwards.
- Total work experience 12 months in the last 5 years. At the current place of work, the client must hold a position of at least 6 months.
- Sberbank mortgages at 7 percent per annum are issued with relaxed requirements to citizens who receive wages on the card of a financial institution.
- The husband / wife acts as a mandatory co-borrower, an exception is only if there is a marriage contract. In general, a client can attract no more than 3 co-borrowers.
Mortgage loan rate
A mortgage at 7.4 percent per annum in Sberbank can be issued online (filing an application electronically).
Loan rates also vary.
- base is 9.5%;
- rate 9.4%; except for Krasnoyarsk and the Krasnoyarsk Territory;
- 7.5% if the developer subsidizes the program;
- 7.4 percent per annum if subsidized by the developer and applying in electronic format.
The rate is indicated when the client receives wages on the Sberbank card. For all other borrowers, the interest will be increased by 0.5%. Also, a 1% surcharge will be awarded to citizens who have refused insurance (optional).
When applying for a mortgage at 7.4 percent per annum in Sberbank under two documents, the rate also increases by approximately 1% (there may be some differences for different clients). Also, an increase of another 1% applies to borrowers who have not passed the life and health insurance procedure.
Reducing mortgage rates in 2017
Reducing mortgage rates to 7 percent in 2017 is also available under the Young Family program. Additionally, it is necessary to submit a marriage certificate, the birth of a child and prove kinship with the parents, if they will also participate in future mortgage payments at 7 percent.
Clients applying for a loan using maternity capital will need to add a certificate of receipt of capital and a certificate confirming the balance of the amount to the general list of documentation. Mortgage 7.4 percent is issued in a standard time period. It is also recommended to clarify the validity period of all additional certificates, as some of them are limited to 30 days.
A 7 percent mortgage from Sberbank is the lowest rate in 2017, which is available only in some regions of the Russian Federation if a number of conditions are met. In general, the bank offers a 9.5 percent mortgage purchase program in new buildings. It is worth remembering this when applying to a financial institution.
The procedure for obtaining and repaying a mortgage from Sberbank
The loan is provided in all branches of Sberbank at the place of registration, location of the lending facility and accreditation of the borrower's company. The application will be considered from 2 to 5 days from the date of application by the client. Mortgages at 7 percent per annum (7.4%) are repaid in equal monthly installments.
It is allowed to make early repayment without penalties from the bank. The procedure is carried out with the permission of the bank after submitting an application, where it is necessary to indicate the date of payment, the amount and other information requested by the institution. Mortgages at 7.4 percent per annum in Sberbank can be issued in parts or at a time.
In case of delay in payments, the penalty will be the amount depending on the contract. All customers are strongly advised to read the agreement carefully before signing and agreeing to the terms.
Conclusion
A 7 percent mortgage is an opportunity to get housing in new buildings throughout the Russian Federation, but it is not so easy to achieve a minimum percentage. In general, we can say that the average rate, which is reduced by submitting a full package of documents, is about 8%. You can learn more about the information on the official website of Sberbank or by visiting one of the branches.
