Today we will look at step-by-step instructions for buying an apartment with a mortgage.

Many people put an equal sign between slavery and mortgages. However, no one says that renting a house or sitting on relatives’ necks is slavery. Undoubtedly, it is better to make every effort and have your own full-fledged home than to move from apartment to apartment all your life.

Mortgage is the opportunity to realize your dream - your own living space. People become “slaves” of mortgages not because they are bad in themselves, but because they use them incorrectly.

Step-by-step instructions for buying an apartment with a mortgage

1. Opportunity assessment

Always try to assess your capabilities adequately. You can, of course, sit on “ doshiraki", but make money on three-room apartment in the city center, but is this really necessary? Is the goal of your life to get an apartment, and not the desire to live in comfort? Are you capable of living on three thousand rubles a month for the sake of your dream alone and denying yourself everything? Will buying an apartment with a mortgage make you happier?

The main rule that you should follow when taking out a mortgage is your ability to pay it. Your apartment mortgage shouldn't take up the lion's share of your income, cutting your budget to living wage. There is no need to deprive yourself of all the blessings of life. Yes, you can save money, but within reasonable limits. Mortgage should not become your headache.

Your mortgage payment must be a MAXIMUM of 30 percent of your monthly income minus utility bills, taxes, rent, and so on. Soberly assess your income and the amount you are willing to pay, without denying yourself the things you are accustomed to. Yes, you will have to cut your budget one way or another, but make sure that this procedure was as painless as possible. Buying an apartment in 2016 especially obliges to save.

2. Reasonable time

Many banks are able to offer you a loan for up to thirty years. And some even up to forty. And if you believe the statistics, then a mortgage loan for an apartment in Russia is taken out for an average of fifteen years. So, long-term loans, for a period of 10 years or more - this is the very slavery that everyone talks about when remembering a mortgage.

You don’t know what can happen to you in these ten years. Perhaps you won’t need this apartment at all. This is a nightmare! And what about the insane overpayment that you face during this period? Even if you buy an apartment with a mortgage at 12 percent per annum, you will have to pay 70% on top of the amount you took! Optimal time, for which it is worth taking out a mortgage – 7 years. If you are not sure that you are able to pay the required amount for a given period, take 10.

3. Adequate rate

An adequate rate is one that will not turn you into a “credit slave.” The overpayment should not be more than one hundred percent of the loan amount. The optimal interest rate in this case is 12% per annum. If you need a short-term loan, then buying an apartment with a mortgage high percent possible.

The interest rate depends on:

Loan term: long term means and large percentage. This is one of the reasons why an apartment mortgage should be short-term.
From the currency of the loan. If you take out a dollar loan, the rate will usually be significantly lower.
From insurance. If you don’t have insurance, your apartment mortgage will cost you more.
From the method of income confirmation. will cut it short for you interest rate on average by 2 percent, when compared with the rate when providing a certificate in the bank form.

4. Early payments

The mortgage on the apartment must be such that early repayment is possible. According to statistics, Russians take out a mortgage for an average of 15 years, and average term, after which they repay the payment - 7 years. By making an early payment, you reduce the overpayment that you are required to pay on the loan interest.

However, it should be remembered that denying yourself everything for the sake of early repayment credit is unacceptable. Balance your strengths, plan your income and expenses, pay the obligatory monthly loan payment amount, and only if after all the expenses you have the amount to pay off the debt early, be sure to pay it.

Remember that the sooner you start repay a loan early– the better it will be for your budget. IN in this case you will benefit because the overpayment will be reduced by a fairly significant percentage, and if you decide to repay the loan before the due date, but after half of the loan period, then due to inflation you will not feel much of a difference in the payment amount. Try to pay off the mortgage immediately, and spend the funds released after payment on something else you need.

You also have a choice: you can take out a mortgage with early repayment and reduce the loan term, or the monthly payment amount. If you choose the first type, the amount you overpay will be significantly reduced. If your the choice will fall for reduction monthly payment, then the amount of payments will be less “strangling” your budget every month. It depends only on your individual considerations, as well as on the loan amount - if the mortgage does not strangle your budget, then take a reduction in the term, and if it takes the lion's share of your budget, choose the opposite option. not as difficult as it seems.

5. Airbag

In order to be prepared for any force majeure situation, you need to have a “safety cushion”, amounting to an amount on which you can live on average for six months, without particularly limiting yourself in anything and regularly paying your mortgage. If you are afraid of a long illness or an upcoming crisis, then increase the pillow so that it lasts for about a year. Just don't go overboard with your savings. If you have money left after your usual monthly expenses, then give half to pay off your mortgage early, and save half. You will even feel more comfortable breathing from the knowledge that you are insured against any non-standard and force majeure situation. Buying an apartment with a mortgage in 2016 may be one of these cases, because with this economic situation it's difficult to predict anything.

6. Comfortable bank

It is advisable to choose a bank that will be convenient for you, because you will have to have contact with it every month, and the less nerves and time these contacts take, the better. Signs of a comfortable bank:

Convenient location. The bank office should be close to your home. The maximum is from work. This option is undesirable, since you are more likely to change your place of work than your place of residence.
Convenient schedule bank work.
Decent service and qualified staff.
Electronic queue. More precisely, its presence.
No long waits in kilometer-long queues.

If you have available funds To make a payment immediately for two or even three months, take advantage of this opportunity. The less you have to contact the bank, the less stress and more free time you will subsequently bring when purchasing an apartment with a mortgage.

7. A worthy goal

You must clearly understand why you need this mortgage. Do you really need it that much? Buying an apartment in 2016 - is this risk worth it during the crisis? And if so, then after realizing this it should become much easier for you to endure all the difficulties associated with payment, because it is the key to success in any field.

Well, these are all the basic rules, thanks to which buying an apartment with a mortgage will become a feasible burden for you, and will not make you hate everything and everyone around you, but will bring you joy and motivation for your personal and personal life.

Buying an apartment is a serious matter. There are many parties involved in the process, although the main ones remain the buyer, the seller and the lender financing the transaction. You will also have to collect a lot of documents and, possibly, spend a lot of time agreeing on the terms of the loan. However, it only seems that obtaining a mortgage is something impossible.

Preview

The preliminary stage can also be divided into 3 parts. The first will be to find a suitable credit offer. It is assumed that before going to the bank, you have at least a little familiarity with the general situation on the bank. mortgage market, average rates and conditions that can be offered to you. This can be done on thematic websites, resources of banks themselves, mortgage brokers or forums.

The second part is searching for real estate that you will buy on credit. At this stage, you will have to decide whether you will look for a suitable apartment on your own or contact a realtor. If you save on the services of intermediaries, then, again, you should find out on your own what requirements banks have for future collateral.

The third part is reconnaissance. It's time to visit the bank of your choice, talk to a credit consultant in advance, clarify the conditions and take a list of documents that will be required to apply for a loan.

Pre-approval

This stage is also worth highlighting separately. It involves the process of collecting documents and submitting them to the bank for review. There will be a lot of documents:
- identification, marital status, etc.;
- evidence of income;
- for purchased housing.

The bank, having carefully examined the evidence of your creditworthiness and trustworthiness provided by you, and having familiarized itself with your choice of housing, will issue a preliminary verdict. This is not yet the conclusion of a loan agreement, but a big step towards it.

Choosing a Lender

And here we cannot fail to say that even after securing preliminary approval, you do not need to settle on this bank. You can submit the same package of documents (photocopies) to 2-3 financial structures. This will save time in case of failure of one of them, because each bank can review mortgage documents for several weeks. And if you receive approval from all creditors, you will have the opportunity to choose the most favorable conditions for you.

Direct registration

Decor mortgage loan– this is not just the signing of a loan agreement, which in itself could be carried out as a separate stage. The registration includes the assessment and insurance of the purchased property, agreement on the clauses of the contract, its signing, and registration of the transaction with the relevant authorities.

In this case, you usually do not need to look for an insurer and an appraiser; banks offer those specialists with whom they themselves have worked. But it’s worth looking at the text of the agreement in person - and doing this before the day of signing, asking the bank for a form of a typical mortgage agreement. Do not rely on the consultant’s words - he may forget or keep silent about something.

Trusting mortgage processing to intermediaries and technologies

If the process seems too complicated for you, you can always ask for help. As already mentioned, when choosing real estate, you can contact realtors. Most of these specialists are familiar with the requirements that banks put forward for collateralized housing, and this is an additional time saver.

Questions related to loan documents, choosing a loan program and lender approval can be entrusted to a mortgage broker. Of course, such specialists can currently only be found in major cities, but their services are increasingly presented at a good level.

I would like to mention one more innovation. In an effort to save time – theirs and the borrowers’, and at the same time their expenses, many lenders allow you to leave

Last update: 03-01-2020

Step No. 3 – Collect documents to obtain a mortgage

Collecting everything Required documents for a mortgage and take it to the bank.

At the same time, we make copies of all documents in in electronic format, they may still be useful in the future, and printing them is much easier than scanning them again.

We are waiting for a positive decision on granting a mortgage loan.

Step #4 – Get approval from the bank and you can look for an apartment

Step No. 5 – Conclude a preliminary agreement and make a deposit

Found an apartment? Have you come to a common opinion with the sellers?

Then we conclude a preliminary agreement. It describes the object of purchase, conditions, terms, amounts, responsibility. Then we give the deposit.

Detailed article with samples and examples preliminary agreement buy and sell via link

Step No. 6 – Collect documents for the bank for the apartment being purchased with a mortgage, and also immediately make an assessment of the found apartment from an appraisal company recommended by the bank

Everything is simple here. Almost all the documents from you have already been transferred to the bank; all that remains is to wait until the sellers prepare their part of the documents. After this, the bank reconsiders the application for a mortgage loan, but for a specific apartment option.

Step No. 7 – Collect all documents for the insurance company and enter into a life and property insurance agreement, and if required, title insurance

• Choosing an insurance company We carry out practically the same as choosing a bank, based on the required documents (the fewer, the better) and the annual payment. This process You can start as soon as the documents are submitted to the bank for review. You shouldn’t wait until the last moment, so as not to run around with a swollen head. with a mortgage – it’s up to you.

• We conclude an agreement for the following types of insurance: insurance of the risk of loss or damage to the apartment (); life and health insurance; insurance against the risk of loss or restriction of ownership of an apartment.

• Agreement with insurance signed by the company before concluding a loan agreement.

Step No. 8 – Conclude a loan agreement and a real estate purchase and sale agreement, transfer the down payment, register the transaction, and finally pay the seller

• On the appointed day and time we arrive at the bank with money and (purchase and sale agreement, and loan agreement). We carefully check everything to ensure there are no errors in the documents. After that we transfer it to the seller an initial fee.
• We agree about the date of going to the registration authority, before that we pay the fees and make copies of all the necessary documents, as well as the fees themselves.
• Buyer pays 200 rubles (check the numbers) for an extract from the state register on registered rights to an apartment, 1000 rubles for registering a mortgage agreement, 500 rubles for registering an alienation agreement real estate(contract of sale).
• The seller pays 500 rubles for registration of an agreement on the alienation of real estate (check the numbers).
• We arrive on the appointed day, hand over the documents to register ownership and wait 5 days. After receiving back the documents and the certificate of registration in your name (check them carefully on the spot), we take an extract from the state register about the registered rights to the apartment, for which we paid 200 rubles, and also make a notarized copy of the certificate of ownership (since 2015, ownership certificates have not been issued). We go to the bank, where now the bank employee checks the documents and only after that the seller receives the rest of the money.

Step No. 9 – You bought an apartment with the help of a mortgage and became the owner

• The documents have been completed and the keys have been received. – You can register at a new place, this must be done within a week from the date of discharge from the previous place of registration.
• Notify the management company or homeowners association about the change of owner.
• And do not forget to pay the required amount for the mortgage to the bank every month. We almost missed the second payment, miraculously, two days before the deadline, I dreamed that it was time to pay, I still can’t believe it.
• The next year after purchasing an apartment, you can apply for a mortgage tax return according to form 3NDFL and.

Congratulations! Now you have your own home!

You can print the procedure how to buy an apartment with a mortgage or save it as a bookmark in case it comes in handy later.

First step

You can skip this step and start with the next one. But I still recommend doing it.
I recommend contacting someone who knows almost everything. It will then take much less time to choose a bank, the likelihood of receiving a loan will increase, and in a number of banks, a loan can be obtained at special programs: characterized by better conditions. The benefits of such treatment can many times exceed the monetary costs of paying for the services of a broker.

Then, I recommend going to a real estate company and entering into an agreement with a realtor so that buying an apartment with a mortgage was simple, and would not turn into an endless “walk through torment.” At buying an apartment on credit you need to take into account a lot of features: if a realtor professionally works with mortgages, he knows all these features.
Of course, the work of both a mortgage broker and a realtor costs money, but in the case of a mortgage, it is better not to save on this.
Although the choice is yours.

Step two. The bank is considering you.

By issuing money, the bank takes risks. Therefore, money is not given to everyone. The review takes from three to five days to one and a half months, depending on the bank and the sources of your income.

Step three. We are looking for an apartment.

Finding an apartment is not difficult: there are many websites on the Internet, as well as print publications, where advertisements about apartments for sale are published. But! The apartment needs to be checked, all the documents on it need to be collected. Moreover, since it happens buying an apartment with a mortgage, and not for cash, the apartment should please not only you, but also the bank.
We do this step when there is positive decision according to the previous step. If the decision is negative, we look for another bank, and go through the previous step with another bank

Step four. Grade.

The bank must be sure that it does not issue a loan more than the percentage of the cost of the apartment as provided for in its loan program. Therefore, the apartment needs to be assessed. The appraisal certificate is submitted to the bank.

Step five. The apartment is approved by the bank.

The apartment has been found, the documents have been collected and sent for verification to the bank and insurance company. The bank's security service, together with the legal department, as well as employees of the insurance company, examine the apartment you have chosen. If everything suits them, then you can this apartment buy.

Step six. Loan agreement.

Before the transaction you sign. Under this agreement, the bank prepares the necessary money for you so that the seller of the apartment (in the event of selling the apartment) can receive it.

Step seven. Money.

Depending on the bank, the money is transferred to the seller in different ways. Either through a safe deposit box or to the seller's account. If through a deposit box, then the deposit of money into the box occurs before state registration.
Money can also be transferred through a letter of credit.

In the case of a new building, the bank transfers money to the developer by bank transfer.
Each method of transferring money has its own nuances.

Step eight. Notarization.

Since June 2, 2016, notarization has become mandatory for a number of transactions. These are transactions for the alienation of shares in the right common property for real estate, including when all participants in shared ownership alienate their shares under one transaction.
That is, if the alienated apartment is registered in shared ownership, for example, between a husband and wife, then such a transaction is subject to mandatory notarization, with payment for notary services, of course.

If the alienated property is registered as individual property, the agreement is not subject to mandatory notarization. But the bank may require a notarization. If it is required, it will have to be notarized. The bank may also require signatures on the mortgage to be notarized. But even if the bank does not require any of this, a visit to the notary will still have to be made: to certify the consent of the spouses to the transaction or vice versa: to write statements that the parties to the transaction are not married.

Step nine. State registration.

The transfer of rights occurs at the moment state registration. Registration of transactions lasts from 3 days to a month.

Step ten. Insurance.

Sometimes this step precedes the transaction.
The bank takes risks and wants to reduce its risks. The bank reduces its risks, as usual, at your expense. That is, you pay the insurance company.

I skipped a number of small steps, such as “cash out.” You will definitely learn about them. Even if you are confronted with a fact, it’s okay: the price of the issue is not high.

Property selection

If you expect to need a mortgage to buy a home, you will have to look at the property in advance.

This is especially important if you are purchasing a new building. The fact is that usually at an early stage of construction residential complex or a village, when the risks of both banks and investors are too high, 1-2 partner banks cooperate with the developer. Therefore, precisely at the moment when the developer’s prices are the lowest, the range of mortgage programs for you will be limited.

What banks like the least is the countryside villages where they sell land. The reasons for this are the unstable market price such land and its dubious liquidity, which ultimately depends on the success of the developer in developing the village. However, in large banks There is mortgage programs and for such a case. But the mortgage is given here for a dual purpose: purchasing a plot and building a house. Construction time will be limited, and mortgage interest until the new house is put into operation will be 1.5-2% higher than standard.

But even when buying a secondary car, it is advisable to look at the desired objects in advance. Otherwise, how will you know what funds you will need for your mortgage?

Choosing a mortgage program

Based on the chosen housing, you need to decide on the choice of bank. There are two main criteria here:

• Are the bank's conditions suitable for you?
• Do you meet the bank's requirements for borrowers?

If we talk about the first criterion, then it is unlikely that you will be able to save on interest. Typically banks offering Better conditions interest rates require several types of insurance, and they charge commissions for various actions (considering a loan application, transferring money). What you really need to pay attention to is maximum size the loan you can take out from a specific bank and the size of the down payment.

As for the second criterion, if you have difficulties confirming income, place permanent job and providing other documents from a numerous list, but there is a significant amount for the down payment (30-50% of the loan amount), then contact a bank that offers a loan “with two documents”. The interest on such a loan is slightly higher than standard (usually no more than 1-2%).

Preparation of documents and submission of a loan application

When communicating with a loan officer, try to find out all the details of the loan program. It's better to even ask standard contract according to the proposed lending program. After carefully studying it at home, find in it the answers to the following important questions:

Don't know your rights?

• the presence of commissions for services when lending and Additional services, imposed by banks on consumers “as a burden” ( credit cards and so on.);
• the number of mandatory insurances and the consequences of refusing to take out one of them (by law, only insurance of the collateral is required);
• the possibility of early repayment of the loan, are there any penalties for such repayment;
• the maximum period of arrears on the mortgage, after which the bank will begin to collect the collateral from you.

The list of documents for a mortgage is individual for each bank. However, with the exception of credit programs according to two documents, in any case you will be asked for a certificate of income and documents about your marital status.

Loan applications are considered by banks at different times - depending on the number of bureaucratic services within the bank and the complexity of the submitted package of documents. So, loans based on 2 documents are approved in 2-3 days, but an application for standard mortgage can be studied by credit institution specialists for several weeks.

Selection of real estate and its approval by the bank

Having received approval from one of the banks for your loan application, you can start choosing an apartment. If you have previously considered which banks the developer of your favorite residential complex works with, then with the selection new apartment you can do it easily. It will be more difficult with the secondary. The purity of the legal fate of the apartment is very important here. Divisions of inheritance and divorces, registered minor children and conscripts are all reasons why a bank may reject an object. And believe me, here he is on your side: after all, the dubious past of housing can make itself felt in the present in the form of lawsuits challenging your ownership rights.

When you and the bank have selected an apartment, you need to have it appraised by a licensed appraiser. The bank will call you an appraiser. The results of the appraisal report determine how much credit you will be given.

Conclusion of a loan agreement

The next step will be the conclusion of a loan agreement. You will receive the money and will finally be able to purchase the apartment you have chosen. The transaction with the apartment seller is completed through Federal service state registration, cadastre and cartography (or briefly Rosreestr). This service registers the termination of ownership of the seller and the emergence of ownership of the buyer. Upon completion of registration (about 2 weeks), you will receive an extract from the unified state real estate register confirming your ownership of the purchased housing.

Now the time has come to fulfill what was promised to the bank (such a point in loan agreement always contained) - and transfer the purchased apartment as collateral.

Insurance of purchased real estate and transferring it to a mortgage

Before concluding a mortgage agreement, it is necessary to fulfill the mandatory provided for by law on mortgage (pledge of real estate), condition: to insure the purchased object against the risks of loss and damage.

Perhaps the bank has also offered you to insure yourself, your property rights, or the risk of non-repayment of the loan to the bank. Agreeing to such conditions in the contract, taking out a loan with increased interest (this is usually a consequence of refusing one of the types of optional insurance) or contacting another bank is your choice. Here it is necessary to compare the amount of increased insurance payments and the cost of insurance.

After presenting the insurance to the bank, you draw up a mortgage agreement and a mortgage note. The mortgage agreement must be registered in the already mentioned Rosreestr service. But now you will not be given a certificate, but a copy of the agreement with a stamp on the registration actions taken and the registrar’s seal. Now in state register real estate, which is maintained by Rosreestr, it is noted that your apartment is encumbered with bank collateral. It cannot be disposed of without the consent of the mortgage bank. As for the mortgage, it remains with the bank. This security, allowing the credit institution to resell its right of claim against you under the collateral agreement if necessary. The mortgage will not have any effect on your relationship with the bank regarding the loan.

Electronic transaction registration

Row credit institutions offers to its clients electronic registration transactions and mortgages directly in the bank’s office, without the need to visit Rosreestr. This method is more convenient both for the parties to the transaction and for the bank itself, while the amount of costs for the buyer (mortgage recipient) increases by only a few thousand rubles (usually within 5,000). This method is faster and safer.

To register the transaction and the pledge in this case, the seller and buyer are in the office banking organization sign the purchase and sale agreement, the recipient of the loan concludes with the bank mortgage agreement, insurance contract. After that, the bank employee scans all the necessary documents (primarily mortgage and sale and purchase agreements) and sends them to the Rosreestr service. After this, the buyer will only need to appear at the bank’s office again and pick up documents confirming ownership and mortgage registration.

So, we have told you step by step how to purchase a residential property with a mortgage. Don’t be afraid of the complexity of the procedure, and the main thing to remember is that the bank is no less interested in you purchasing a home using the funds received. credit funds, so the credit manager will help and guide you in every possible way.