Who can get a mortgage
According to the Law, the loan can be issued to citizens from 21 years to 75 years. To provide long-term credit Bank puts quite stringent requirements, which is quite understandable: a mortgage involves monthly payments for 20-25 years and the Bank must be sure of the solvency of the borrower.
When choosing a Bank you need to pay attention to the amount of Commission, interest rates, conditions of insurance of life and health. More favorable conditions are offered by major banks, such as Sberbank of Russia, but it needs to meet the conditions put forward by the Bank and collect a full package of documents. The borrower must have an official place of work and a decent wage it can be documented. If the salary is not very big, you can get a mortgage if we could find a co-borrower – the person who will be responsible for repaying the loan. In most cases the Bank requires to make an initial contribution for the apartment in the amount of from 30 to 50% or collateral.
What documents you need to provide to Sberbank
In this Bank there are different mortgage lending programs, but the basic package provides for the filing of the following documents:
- you must fill in the application form for the loan where as fully as possible to describe the personal financial position of all proposed items;
- a similar form must complete co-borrower or guarantor;
- enclose the completed questionnaire in the pledger-the legal entity;
- passport of the borrower, co-borrower and the guarantor and their copies;
- documents of title to the property offered as collateral;
- income certificate in the prescribed form 2-NDFL or in the form of the Bank;
- a document confirming payment of the initial payment;
- documents of the property purchased in the mortgage.
When you use the maternity capital as the first payment for the apartment will need to provide a certificate for maternity capital and documents from the Pension Fund confirming the availability of funds in the account.
In addition to these documents the Bank may require additional documents:
- a copy of the VAT;
- SNILS;
- a copy of military card;
- a certified copy of employment record;
- copy of marriage certificate;
- certificate on family composition;
- a certificate from narcological and psycho-neurological dispensaries and other documents at the discretion of the lender.
The interest rate on your mortgage is directly dependent on how the borrower will be able to confirm their financial viability and ability to repay each month loan, so you need to take responsibility for the preparation of documents and signing loan agreement carefully read all the paragraphs.