The interest rate on the mortgage
For most borrowers under best mortgage means a lower interest rate. She is always determined individually and depends on a number of factors. In particular, the amount of down payment, timing and amount of credit. Also, banks set the rate based on the provided proof of income and experience, availability of insurance life and health. The interest rate varies depending on region and type of accommodation (building or apartment in the secondary market). Many banks offer preferential terms on mortgages for certain categories of borrowers (military, scientists, teachers, state employees, etc.). It is advantageous to take out a mortgage in that Bank in which you get paid.
Not always increase the amount of lending leads to an increase in interest rates on the loan. VTB24 and Sberbank inverse relationship - the larger the loan, the lower interest rate for the borrower.
The interest rate often depends on the size of the down payment. The greater the amount of money you have, the more beneficial it will be for you a loan. For example, in Sberbank with an initial payment of 50% rate will make 12,5%, from 30 to 50% to 12.75% and less than 30% - 13%.
Giving loans long term from banks, there are additional economic risks that can invalidate your refund. So they set higher interest rates on long-term loans. On average, the difference in interest rate on the mortgage for 10 and 30 years is an average of 0.5-2 PPT
To determine the most beneficial offers on the mortgage you can take advantage of the specialized banking portals that allow you to compare banking program based on the settings of the mortgage. For example, such options are on the portal.ru Sravnili.
The type of mortgage payments
For the amount of overpayment on the mortgage will influence not only the interest rate but also the type of payments. Greater profits differ differentiated payments, in which the principal debt is extinguished, together with interest. While the annuity scheme for the first time almost the entire payment goes to pay interest, and the amount of the principal debt remains virtually unchanged. Under this differentiated scheme of repayment of the loan is not available to each borrower, as initial payments on a mortgage will be much higher.
After registration of the mortgage should continue to analyze lending program. There's always the option to refinance the mortgage and make it more profitable.
Annuitant payments more profitable for banks, therefore, differentiated type is extremely rare. Opportunities of a choice of which scheme they choose to pay provides a limited list of banks. Among them, Gazprombank and Rosselkhozbank. So, if you take the mortgage to the agricultural Bank of 5 million rubles for a period of 10 years with an initial payment of 15% interest rate will be 13.5%. If you keep the annuity payments, the overpayment will be of 3.52 million rubles and monthly payment - of 64.72 thousand rubles, whereas according to the differentiated scheme of the overpayment will be 2.89 million R. (R. 630 thousand less), and the monthly payment is 35.8 thousand rubles thousand rubles to 84,15 Such payment can afford the borrower with a sufficiently high income, which reduces the number of applicants for a mortgage with a differentiated payment scheme.
Minimum package of documents
Many borrowers are afraid of the fact that the mortgage requires the provision of extensive documents. Some can provide them quite a problem, for example, due to the lack of formal proof of income. But today it is possible to arrange a mortgage according to two documents in the presence of an initial payment of 35%. Such mortgage programs develop Sberbank and VTB24.
The risks of banks in this case the minimum, because the mortgage apartment serves as collateral for the loan.