Each person has their own understanding best mortgage. The borrower when choosing a Bank can be guided by the lowest overpayment, small down payment, or minimum package of documents and fast loan processing. So the same Bank may be one of the best, and the other unprofitable.

It should take into account regional specifics. Within the same Bank may offer excellent credit conditions in different regions. The best deals on mortgages can be found in densely populated cities with high competition.

The least amount of overpayment or monthly payment

The overpayment on the mortgage depends on the interest rate and loan term. The lowest interest rates on mortgages today offer large Russian banks (VTB 24, Sberbank, etc.). This is due to the fact that small banks more difficult to raise large sums for long periods on the interbank market.

Favorable interest rates offered by the Agency for housing mortgage lending (AHML), but to the borrower imposed strict requirements and will be required to provide extensive documents.

The total amount of overpayment depends not only on the magnitude of interest rates, but additional fees associated with the issuance of the mortgage. Therefore, when comparing Bank proposals should pay attention to the announced total amount of overpayment. For every borrower, the interest rate is determined individually. Therefore, you should not rely on the base rate, which is specified in the advertising proposal.

Almost all banks offer reduced interest rates for payroll clients. In Sberbank they may qualify for a reduced interest rate to 3 percentage points

The longer the mortgage, the greater the overpayment. But for some borrowers it is more important the minimum monthly payment. Otherwise, their financial ability does not allow them to make payments on the mortgage. In such a situation is to find a Bank offering long term loans up to 20-30 years. It should be noted that today almost all banks are presented on the mortgage market, offer extended credit terms.

The initial payment

For some borrowers important when choosing a Bank has a minimum initial contribution. Today, the minimum down payment is 10%, but it appears not frequently and require additional collateral for the loan, or you'll be disadvantageous rates. Such programs are in Russtroybank, "the Moscow Regional Bank, URALSIB, as well as special programs for certain groups of the population from Sberbank and VTB24.

In some banks it is possible to obtain large loans secured by existing properties. The money can be spent on the purchase of apartments. Thus, the initial payment is not necessary. Loans secured by real estate is, for example, in "Moscow credit Bank", "Alfa-Bank", "Petrocommerce", "Gazprombank".

Rapid clearance and minimal package of documents

For some borrowers, the notion of best mortgages identically quick loan. It is worth noting that the fewer documents the Bank asks for a mortgage, the higher interest rate.

Today there are programs, providing only two documents (passport and second on the choice of the borrower) for a mortgage loan. But they have rigid requirements for initial payment, he should be at least 40-50%. Such programs now have with VTB24 and Sberbank.