Mortgages in 2016 through the eyes of the borrower
Get Rich / / December 20, 2019
The crisis sweeping the world, and to live is still somewhere in need. Of course, you should buy a property a little earlier, when credit conditions were better. But, on the other hand, now the housing market is in deep stagnation. And right now, you can win in the price: discounts and promotions by developers still just beginning. In place of the current will soon come summer, more substantial (in the summer no one is buying the apartment, and sell and keep building it is necessary).
If the money to buy an apartment for cash or on credit is not enough, will have to take out a mortgage. On it we have wroteBut the new time - the new rules. Now we look at the main points that you should pay attention (and if you miss something, we will wait for comments and correct).
What is mortgage
Currently, there are several basic types of mortgage lending: standard, with State support program "Russian Family" and a special offer for banks soldiers.
Standard mortgage
Conventional mortgage - this is an extremely difficult credit. In the past, to obtain mortgage funds required to make 13% of the cost of buying an apartment as the first payment. Now - not less than 15% for the primary housing and 20% secondary. The actual conditions of the Savings Bank are:
An initial fee | Credit term | ||
---|---|---|---|
to 10 years | from 10 to 20 years | from 20 to 30 years | |
from 20 to 30% | 13,5% | 13,75% | 14% |
from 30 to 50% | 13,25% | 13,5% | 13,75% |
50% | 13% | 13,25% | 13,5% |
»
When this rate is valid if:
- credited property was built with the participation of credit funds of the bank, or applied a surcharge of 0.5 percentage points;
- Borrower insures his life and health, otherwise applicable allowance of one percentage point;
- until mortgage registration applies a surcharge of one percentage point.
Many banks have tightened requirements for borrowers. If you play with the Sberbank credit calculator, you can figure out what the primary loan approval young family of two people will need at least 40-50 thousand personal income of each spouse. And the confirmed income, so that the recipient pay a "black cash" may be in trouble.
The average interest rate at the moment (real, not advertising) of the order of 15-16% per annum. Why? Even the base rate for the secondary housing starts from 12.5%. Stake for new average is 13%. At the suburban real estate and the construction of a private home prices even higher.
military Mortgage
For the military quite acceptable option is the military before the mortgage. Back in 2015 the interest rate on this type of mortgage is 8% per annum. Today - is 12.5% or higher.
Mortgage with state support
The best option at the moment is a mortgage with state support. It is a loan for the purchase of housing under construction or housing in the finished building. Due to the state subsidy bank provides a reduced rate of up to 12% (this is the minimum threshold, which in reality will be higher - about 13-13.5%).
However, this program does not extend to all housing. Basically, the fact is being built or under construction with the participation of the bank's funds. In this case, the developer must be in some kind of trusted list.
There is also a limit on the maximum amount of credit:
- 8 million rubles - for Moscow, Moscow region and St. Petersburg;
- 3 million rubles - for the rest of Russia.
Minimum down payment for a mortgage with state support is 20% of the cost of purchased housing.
In this case, the loan interest rate is fixed - 12% in large banks. However, this type of mortgage life insurance includes compulsory primary borrower. Moreover, the amount of the annual fee is calculated on the residual value of the loan and is 1% of the remaining amount at the time of payment which the borrower must (interest is not taken into account). In case of refusal by the bank offers insurance rate increase to the standard, with the time prescribed in the mortgage agreement. Accordingly, to pay for the first year and then not be able to refuse - the entire mortgage will be recalculated from the date of refusal of insurance. Yet we must remember that all mortgage apartments it is necessary to insure, and is still the order of 0.4% of the outstanding amount.
It is worth paying attention to offer "TinkoffBanka": At the time of this writing, the interest rate on the mortgage with the government here began by 11.9% per annum.
The program "Russian family"
In official documents called "Providing housing for young families». Validity of this program was to expire in 2015, but in 2014 adopted a program of "Making affordable and comfortable housing for Russian citizens and municipal services ", due to which it was actually extended to 2020.
The action program covers the entire territory of Russia and is aimed at providing assistance to young families who are in need of better living conditions. However, all governing regulations producing regions themselves. In order to participate in the program, a young family must meet the following conditions:
- at least one member of the family must not be older than 35 years (and a participant can become a family of one person);
- wishes should have Russian citizenship;
- the family must live in inadequate living conditions (cases where the floor area per person is less than that found in the region; living in communal apartments).
According to the terms of the program, a young family issued a government grant, which should be directed towards the purchase of housing or shared construction. For families without children the grant is issued in the amount of 35% of the appraised value of property, and for the family couples with children, including single-parent families consisting of one parent and one child - in the amount of 40%. Large families provide additional benefits, while they provide material support in full.
In some regions, instead, are the target price per square meter of housing, and reduced interest rates and the proposed apartments are sold with finishing.
developers loyalty program
In the current situation, many developers are warning in advance and entered into partnerships with large enterprises agreement. Their essence is the following: the company provides some subsidy to the employee in exchange for a commitment to continue the work, and the developer, in turn, offers a discount on accommodation. In some cases, it is a tripartite agreement. It becomes the third bank, which offers a reduced rate in it.
By the way, I took advantage of this offer when purchasing an apartment. Discount developer was 8% of the total cost of housing, and a fixed interest rate of the Savings Bank - 11,4% per annum without changing the conditions.
What you should pay attention to
- It is better to take out a mortgage with the bank, which framed a salary card. This will minimize the risk of failure to issue a mortgage, including the absence of confirmed inquiries income. But you should pay attention to: banks consider salary is salary transfers. Also, such a move will reduce the additional allowances on the interest rate.
- Many regions offer additional programs for housing. For example, in my home town Ulyanovsk has a "Governor's mortgage": borrowers participating in the program, the first three years, the municipality pays the loan interest.
- Similar programs may apply for certain labor professions (eg, physicians) or enterprises.
- Banks are much easier to approve loans for the purchase of new buildings. It is worth paying attention to the relationship builder and the bank and go for an initial approval from the pre-selected apartment. This will reduce the likelihood of rejection without explanation and increase the chances of getting a mortgage.
- Shares in the apartment need to be treated according to current income: the higher taxable income, the higher the proportion. Thus, thanks tax deduction it will be possible to recover some of their money much faster. Recall, this is not only the cost of the apartment (or rather, part of it, taken as a loan), but also of the interest paid under the contract. This will allow to repay part of the loan a little bit earlier.
- Any payment in excess of the monthly fee must be paid through a bank employee. Check the deactivation of a larger amount from the account. 500-1 000 extra to play a role, as it is funny, because any overpayment goes not on payment of interest and the repayment of principal.
Take it or not?
Despite a lot of difficulties, nerves and significant overpayment, the mortgage is the only real chance for many people in our country get housing. More expensive real estate is much faster than the growing welfare of society. And the average monthly payment for the mortgage apartment comparable to rent.
In order to accurately decide, you need to go through a serious way. We'll have to consult with a mass of different specialists. Try before trekking to the developer to find out information about all current offers in your area. Calculate the maximum amount of repayment options and stop at that, which will allow guaranteed to pay the mortgage in the event of force majeure. It is better to pay more and so return to rapid repayment than at a difficult time to be without the ability to pay the monthly rate.
About existing government programs can be found in the municipality. Offers of banks are always available on their sites, but it is necessary to go in person. The same applies to developers sometimes last unsold apartments in the house right in front of his surrender are much cheaper than on the stage of excavation.
And, of course, remember that in case of problems can and should complain. For builders threat it is to appeal to different government agencies. And if there were problems in the bank, you can apply to the staff of the Central Bank.