What are the conditions for a military mortgage in 2018? In which banks can I get a mortgage for military personnel? Who can help with housing military mortgage?
Big hello to the regular readers of the HeatherBober website and to those who opened our blog for the first time! With you Denis Kuderin.
The topic of the new publication is military mortgage. This article will be of interest to military personnel, members of their families, as well as to anyone who wants to improve their personal education.
So let's get started.
1. What is a military mortgage
Military mortgage (VI) is a way for military personnel to receive housing under the accumulative mortgage system (NIS), which operates throughout the territory of the Russian Federation.
Economic and social principles VIs are defined and established by federal laws. The program was accepted for state level more than 10 years ago in order to provide housing for the military serving under the contract.
Historical reference
Until 2004, the old system of providing servicemen with purpose-built houses worked after being dismissed for seniority. This mechanism operated with failures - there were financial and technical difficulties.
As a result, to replace the imperfect program housing a new system has come that allows the military to acquire full-fledged own housing already 3 years after participating in the NIS.
The law on the funded system was adopted in 2004, which gave rise to mortgage lending for the military. Using the accumulative system, members of the Russian armed forces now have the right to buy housing in installments under state support.
Differences from civil mortgage
The instrument of federal support for the military is more profitable than conventional (civilian) lending.
The main advantage of VI is that the money on the loan is paid not from one's own pocket, but from state budget. True, for this, the military needs to serve their country faithfully for about 20 years.
Other differences between a military mortgage and a regular one:
- right to concessional lending available exclusively to military personnel, participants in the NIS program;
- the mortgage debt is repaid not by the borrower, but by the Ministry of Defense of the Russian Federation (this structure also acts as a mortgagee);
- the loan amount is limited and equal to 2.2 million rubles. (if the object is worth more than this amount, then additional expenses paid by the borrower).
- the term for acquiring housing increases, since funds from the Ministry of Defense are not transferred immediately;
- the loan agreement must be signed before the sale agreement.
The right to receive housing on preferential terms does not disappear even if the military already has an apartment or house. A member of the funded system can purchase a property in any region of the Russian Federation.
The Ministry of Defense eliminates any risks in the lending process - the organization fully controls the procedure for acquiring housing and makes a down payment.
The military is required to independently find a developer or seller and choose a bank with the maximum favorable conditions mortgage lending.
Why are the terms of the mortgage so important if the Department of Defense does the calculation anyway? The fact is that in case of early dismissal, the military himself will have to pay the loan amount and interest on it: for this reason, it is advisable for the borrower to choose the most optimal credit option.
Essence and conditions
A brief scheme of the military mortgage was announced on the official website of Rosvoenipoteka: "Served - Saved - Bought an apartment."
Now more about how exactly the accumulation of funds occurs. The NIS participant regularly serves his state, and at this time certain sums of money are transferred to his mortgage account every month.
3 years after joining the NIS, the military has the right to purchase housing on a mortgage loan. From the available funds, the first installment is repaid and the rest of the money is paid within the time limits established by the banking institution.
On this moment maximum amounts and the VI loan is 2 200 000 rub. Approximately as much or a little more will be accumulated on mortgage account for 15-20 years of service. According to experts, this amount should just be enough to purchase housing with an area of 54 m 2, sufficient for a family of 3 people.
If a military man has 2-3 children, he can purchase a larger apartment. However, if its value exceeds the amount of government subsidies, the difference will have to be paid out of your own pocket.
It is allowed to purchase real estate on the secondary market, but the housing must not be dilapidated or be in disrepair.
Read more about and what are its advantages in a separate article of our blog.
2. Who can apply for a military mortgage
All employees in the armed forces of Russia, in the ranks of the Ministry of Emergency Situations, the Ministry of Internal Affairs, the FSB, and intelligence officers have the right to participate in the funded program.
Officers, warrant officers, midshipmen enter the system automatically, and privates can become participants only after the conclusion of a professional contract.
The official list of NIS automatic participants is as follows:
- Officers who were awarded the 1st officer rank after 01/01/2005;
- Warrant officers and warrant officers with more than 3 years of service from 01/01/2005.
Officers, midshipmen, ensigns who signed contracts and received ranks before 2005 are entitled to voluntary membership in the mortgage program. Privates, sergeants, sailors and foremen who signed contracts after January 1, 2005 also have the right to become voluntary participants in the NIS.
3 years after registration in the VI program, a soldier acquires the right to receive Housing loan in the amount of funds accumulated in the account. These savings are paid as a down payment on a mortgage.
The loan itself is repaid by the state while the military continues to serve. Ideally, by retirement at age 45, an employee is fully paid off debt and owns a full-fledged home.
If the military quits before paying the full amount of the mortgage, then he will have to repay the loan on his own, along with interest.
Example
A serviceman, Major Kovalev, bought an apartment for VI for 2 million rubles. After 5 years of service, the state paid off 1.2 million debts. The major decided to retire early from the armed forces and take up teaching.
After retiring, he is left with a debt of 800,000 rubles, which he must pay on his own, otherwise the Ministry of Defense has the right to take the property in his favor.
The body that is in charge of military mortgages is called the "NIS Federal Office".
It is this structure that:
- savings accounting;
- money management (investment and multiplication);
- issuance of mortgage resources;
- assistance in buying a home (consultations, selection of real estate).
The size of the military mortgage does not depend on the position held and the official salary of the military. Deductions from federal budget on a mortgage account are the same for everyone; their sizes are annually reviewed taking into account inflation.
Details about that - in a separate publication.
3. How to purchase housing for military personnel on a mortgage loan - step by step instructions
Each military member who has been participating in the NIS for more than 3 years decides for himself when to use the right to acquire real estate. It depends on the living conditions, age and other objective factors.
A brief scheme for buying a home for VI looks like this:
- the program participant decides to buy an apartment with the accumulated funds and finds a developer or seller of housing;
- having secured consent to purchase an apartment, the military negotiates with the bank to take mortgage loan;
- with the participation of the Ministry of Defense, an agreement is signed with a financial institution;
- The loan is used to buy an apartment.
How effective and convenient such a scheme is, it is up to the military to decide. Of the disadvantages of VI is the need to “work off” the debt for years of impeccable service, even if a person has a desire or need to retire ahead of schedule.
And one more important nuance: taking care of the execution of the transaction, searching for a bank and working with documentation is carried out directly by the military without outside help, which also takes time and effort.
And now we will analyze the procedure step by step.
Step 1. Participation in the mortgage program
Only those who have one can use the savings on a personal account. You can become a member of the NIS automatically if you are an officer, or you can submit an appropriate report to your superiors.
The project participant receives a certificate and the right after 3 years to purchase housing by paying for it from budget funds. All arrangements for obtaining a loan and disposing of savings account controlled by the Federal Office of NIS.
Step 2. Search for a developer or seller
The program participant is looking for a developer or homeowner who is ready to sell real estate for military mortgage funds on his own.
As part of this program, the acquisition of apartments at the construction stage is becoming increasingly popular. However, no one prevents the military from buying an apartment on the secondary market, if a suitable object is found and the banks give their consent to such an acquisition.
There are a number of requirements for apartments and houses:
- location on the territory of the Russian Federation;
- a separate kitchen and bathroom;
- availability of water supply;
- good condition of doors and windows.
The building itself must stand on a solid foundation and have the status of a full-fledged residential facility.
Step 3. Finding a bank for a loan
Having chosen housing, the military cannot immediately sign a contract of sale. First, he needs to obtain the right to issue a target housing loan(TSZhZ) and apply with a full package of documents to a credit institution, that is, to a bank.
Sample list of documents:
- Loan application form.
- Passport.
- Military ID.
- A document certifying the right to CZHZ.
- Real estate papers.
About 70 Russian financial companies work with military mortgage loans. Choosing a bank that is ideal for military mortgage purposes is not an easy task. Institutions impose certain requirements on the borrowers themselves and offer different percentages on loans.
The bank makes a decision after studying the documents and an expert opinion on the property. If the employees are satisfied with everything, the client's documents are sent to the Ministry of Defense for verification by government agencies.
Step 4. Making a target loan
The documents are checked again at the Ministry. If the decision is positive, the papers are signed and sealed.
The main stage of the whole process is the signing of the document for the issuance of the CHL.
There are 3 parties involved in the process:
- Serviceman (aka borrower).
- An organization representing the Russian Ministry of Defense.
- The bank issuing the loan.
When all the signatures are put, the funds are transferred from the state accounts to the bank account in the form of an initial installment on the loan. After that, the bank settles with the developer or seller of housing and receives within 10-20 years monthly payments from the state budget.
Step 5. Registration of ownership
The deed is done, the military man can only register the property in his name and celebrate a housewarming party. Of course, it is worth keeping in mind that you will have to pay for the apartment for several more years, regularly fulfilling your official duties.
The Ministry of Defense will pay the loan only as long as the borrower is serving in the army or other military government agencies. If he quits before paying the amount of the debt, he will have to pay with his personal savings.
4. Which banks work with military mortgages - TOP-5 banks with favorable interest rates and conditions
Almost all big banks Russia carry out financial operations with storage funds. Loan amounts and interest are calculated by each financial company according to a unique formula known only to her.
I advise you to choose well-known and reliable banks for partnership:
- Sberbank;
- VTB 24;
- Gazprombank;
- Communication-Bank;
- Growth Bank.
These institutions offer special mortgage products to military personnel and guarantee complete transparency of transactions.
The most reliable option is Sberbank. There are branches of this company in all cities of Russia, and detailed information under the terms of the loan is available on the corresponding page of the official website of the bank.
The table below shows the interest per annum and the features of obtaining loans in each of the listed banks:
№ Banks Interest rate Peculiarities 1 Sberbank 10,5% The bank does not require transaction insurance, but strictly applies to real estate 2 VTB 24 8,7% You can buy housing of any type, including private houses 3 Gazprombank 10,5% High requirements for housing and credit history military 4 Communication Bank 9,5% As an initial deposit, the bank takes any amount accumulated in the account 5 Growth Bank 9,5% It is allowed to purchase a private house 5. Who can help in obtaining a mortgage - professional assistance to the military
Above, I have already mentioned one of the significant disadvantages of VI - the need for borrowers to independently search for banks, real estate and collect the necessary documents.
Fortunately for military personnel, there are companies ready to help them.
Example
One such company is Morton. This institution will help the military find an apartment in the right area of Moscow and the region and will assist in obtaining a loan.
The advantages of such cooperation:
- a large selection of apartments in new buildings under construction;
- issuance possible additional loan(up to 3 million) for up to 15 years;
- assistance in re-obtaining a military mortgage;
- assistance in obtaining a loan in any of the major banks of the Russian Federation.
You can find out the tariffs and get acquainted with the terms of the partnership in detail on the company's website www.kvartira-voennym.ru.
6. An Alternative to Military Mortgage - Receiving Funds at the End of Service
The military has the right to use money on a personal account for the sole purpose of buying a home. No one will pay cash into the hands of the military.
However, there are 2 ways to spend savings:
- Get a home loan after 3 years since membership in the program.
- Get the full amount of savings at the end of the service and buy an apartment with this money without a multi-year loan.
In other words, those military men who do not have any special problems with housing should not rush. They have the right to use the full amount of funds at retirement and purchase an apartment or house without getting involved with bank mortgage programs.
I will list all the circumstances under which a serviceman can get at his disposal funds accumulated in a personal account:
- service of 20 years or more;
- dismissal of a serviceman who has served for more than 10 years and has no housing (in this case the amount of savings will, of course, be less);
- reaching the age of 45;
- retirement for health reasons or in connection with organizational measures in the structures of the Ministry of Defense.
If the above circumstances occur, the military can open an account with any bank that works with military state savings and submit a report to Rosvoenipoteka to receive a participant's document.
From the article you will learn what a military mortgage is, what are the conditions for obtaining housing. In which region of Russia you can get housing. How best to choose a bank for mortgage lending. In particular, you will find out what documents are needed for a military mortgage. And also, what regulatory legal acts regulate the “military mortgage” program, which government websites should be viewed in order to get comprehensive information.
What is a military mortgage?
Military mortgages enable military personnel to obtain housing with virtually no use of their own money.
Conditions and essence of participation. Who can participate in the program?
Can participate:
- Officers who contracted to pass military service starting January 1, 2005;
- Ensigns and midshipmen, the total duration of military service under the contract is three years starting from January 1, 2005;
- Sergeants and foremen, soldiers and sailors who entered into a second contract for military service not earlier than January 1, 2005;
- Graduates of higher military educational institutions who graduated from universities after January 1, 2005 and entered into the first contract for military service before January 1, 2005.
In addition, in order to become a participant in this program, it is required to be a member of the accumulative mortgage system for the improvement of living conditions (NIS). To do this, write a report.
How to Calculate a Military Mortgage
The minimum age of the borrower is 25 years, but the borrower must not be older than 45 years. By this age, the loan should have been paid off. The minimum loan amount under the program is 300,000 rubles. The maximum amount of a military mortgage is 2.3 million rubles.
The interest rate of a military mortgage ranges from 6.33% to 10.5% depending on the age of the borrower, the amount of the down payment, the type of housing and the developer.
An initial fee from the value of the acquired property
- 20% - Payment of the initial payment for housing in the primary and secondary real estate market;
- 30% - When purchasing a residential building with land plot on the territory of low-rise buildings;
- 40% - When purchasing a residential building with a land plot outside the territory of low-rise buildings.
Military mortgage, buying an apartment. Where can I get an apartment?
You can buy housing under the Military Mortgage program in any subject Russian Federation, regardless of where the soldier is serving in the military.
Which banks work with "military mortgage"?
Prior to the purchase and sale transaction, the serviceman is obliged to open an account and deposit at least ten percent of the cost of the purchased housing into it. Thus, it is very important to decide on the choice of bank. Must choose reliable bank. Who has sufficient experience with the "military mortgage". federal Service By financial markets constantly updates the list of credit institutions that operate under the "military mortgage" program. The most famous banks operating under the "military mortgage" program: Sberbank of Russia, VTB 24 Bank, Svyaz Bank, Gazprombank, etc.
Documents for a military mortgage
- Questionnaire.
- Application for a loan.
- Consent to the processing of personal data by the creditor.
- Copy of the passport.
- A copy of the document confirming the borrower's membership in NIS and his right to receive a loan.
- Copy of marriage certificate/divorce certificate.
- A notarized document confirming the consent of the spouse (wife) to purchase housing by obtaining borrowed money with the transfer of housing as collateral.
Conclusion: How Does a Military Mortgage Work?
Thus, let's formulate the main conclusions of the article:
- Military mortgage - allows military personnel to get housing, practically without using their own money. The Ministry of Defense of the Russian Federation covers the bulk of the costs of paying the mortgage;
- Loan amount: minimum - 300,000 rubles, maximum loan amount - 2.3 million rubles. The borrower must be no older than 45 years. By this age, the loan should have already been paid off;
- The initial payment of the value of the acquired property ranges from 20% to 40%;
List of sources used
- rosvoenipoteka.ru - Federal State government institution"Federal Administration of the Savings and Mortgage System of Housing for Military Personnel";
- ahml.ru - Mortgage Agency housing loans created by the government of the Russian Federation;
- the federal law Russian Federation dated August 20, 2004 N 117-FZ "On the accumulative - mortgage system of housing for military personnel"
Possibility of obtaining a mortgage preferential terms- This is a program that has replaced the free housing for military personnel, which was provided earlier.
The essence of this program lies in the fact that now the state does not provide them with ready-made free housing, as it was before, but pays mortgage payments for them.
The program implementation mechanism is as follows:
It is worth considering that the amount that will accumulate on the personal account of a serviceman may depend on many factors: the duration of the formation of savings, the level of his salary, etc. You can use it to make a down payment and part of the loan payments. If it is not enough to fully pay the contributions, then the borrower will have to contribute all the remaining funds.
Features and conditions for obtaining
A military mortgage for contractors is a more profitable and convenient option than free housing, as it allows you to get it faster, without the need for a long wait in line.
Also, at the same time, the serviceman is not limited in his choice - he will not be content with the provided option, but will be able to choose the region, city and a specific apartment or house on his own.
In addition to participation in the NIS, which is mandatory requirement to qualify for a loan, the borrower must meet several more.
So how do you get a military mortgage for a contractor? For this, a number of conditions must be met. For example, his age at the time of registration of the mortgage must be at least 22 years old, and at the time of its return - no more than 45 years.
The terms of the military mortgage for contractors are as follows:
- the maximum amount to receive is 2.2 million rubles;
- interest rate- no more than 12.5%;
- the amount of the down payment - 20% of the cost of housing.
Certain features and difficulties may arise in the event of termination of the contract and termination of military service. In this case, the right to accumulated funds will directly depend on the reason for dismissal - if it is considered valid, the soldier will be able to use them. Otherwise, he will lose the opportunity to use this money and will be forced to repay the loan on his own.
Another significant drawback of the program is the limitation on the maximum possible loan amount. Often these funds are sufficient only for the purchase of housing in not very large settlements, while the cost of housing in regional centers is much higher.
However, this problem can be solved by own funds serviceman - he has the right to add the missing amount on his own. If these conditions are met, a mortgage can be granted to military personnel under a contract.
Bank selection
Not all banks are engaged in lending to military personnel on preferential terms, but their list is still quite wide.
As a rule, these are the largest public financial institutions that have many different mortgage programs.
It is worth considering their conditions for obtaining a mortgage for the military under a contract, which are presented in the form of a table:
Obviously, these conditions do not have any fundamental differences and are practically the same. The borrower is in no way limited in his choice and can apply to any financial institution at his own discretion.
It is best to submit documents to several banks at once - this way the probability of obtaining a mortgage will increase significantly.
Required documents
When applying to the bank, the borrower is required to provide a certain package of documents, which includes:
IMPORTANT! Depending on the requirements of a particular bank, other documents may be required to obtain a loan. You can find out the exact list only at the consultation with a bank employee.
Conclusion
To date, a mortgage for the military under a contract is an ambiguous deal, which has both its advantages and certain disadvantages. However, sometimes this is the only way to purchase housing, since mortgage conditions for contracted military personnel turn out to be more favorable than in general cases.
In 2019, the state military mortgage program continues to function successfully.
Its main principle has been preserved - the state provides financial resources military personnel to purchase housing free of charge (subject to compliance with a number of legally fixed requirements).
The attractive aspects of the state program are the minimum number of documents when applying for a mortgage, the freedom of the program participant to choose the type of housing and its territorial location, and, most importantly, the opportunity to exercise the right to housing without spending their own savings.
Legislative regulation
The fundamental document of the state program is the Federal Law of August 20, 2004 No. 117-FZ “On the savings and mortgage system of housing for military personnel”.
The law establishes requirements for its participants, stipulates the rights and obligations of military personnel and state bodies, regulates the mechanism for recruiting and using targeted housing loans.
A more detailed understanding of the stages of the military mortgage program, documents and instructions for officials and participants of the state program can be obtained from the Decrees of the Government of the Russian Federation. Also, standard forms of documents and the procedure for conducting military mortgage procedures are contained in Orders of the Minister of Defense of the Russian Federation.
Who is eligible to participate in the state program
In the state program can take part the following groups of people:
Also, credit institutions participating in the military mortgage program can set age limits for borrowers (see the section of the article on the conditions of the mortgage of individual banks).
Conditions and design algorithm
The process of obtaining housing under the military mortgage program consists of several steps.
First of all, the soldier must become a member of the accumulative mortgage system. To do this, he must comply with the requirements established by the Mortgage System Law. Employee military organization, responsible for the implementation of the provisions of the state program, is obliged to monitor the moment the employee has the right to participate in a military mortgage. It is he who must submit documents about the employee to the personnel unit and the head of the military institution. Then the papers are sent to the regional department responsible for housing for military personnel. After reviewing the application and making positive decision a citizen enters the register of participants in the accumulative mortgage system and receives a message about this fact.
A serviceman can make sure that he is on the lists of persons applying for the purchase of housing under the military mortgage program, track the number and status of the application through a request to the regional housing department and, as well as by registering on the website of FGKU "Rosvoenipoteka", in your personal account.
Three years later, a person included in the register may apply to the head of the military unit for the issuance of a certificate of mortgage housing loan. You can do this later - this will provide a large amount of money in a personal savings account. 
Application for a certificate considers the regional housing organization, after which information about the person is sent to FGKU "Rosvoenipoteka" for registration of the certificate. After receiving a certificate, a serviceman has six months to select a dwelling, and if there is a lack of funds for the desired object, to apply for a mortgage in a bank participating in the state military program. After this time, the certificate becomes invalid and the application must be re-submitted. Mortgage programs of banks allow the certificate holder to purchase both an apartment on the secondary real estate market and a new building. In addition, you can choose to buy a house with a plot of land. The main thing is that the property must be approved by a bank participating in the state program.
If the housing option is selected and approved, then the next step is to signing a loan agreement, a targeted housing loan agreement and directly a contract for the sale of residential premises.
After that, the transfer of ownership of the acquired object should be registered (however, it will be secured until the end of mortgage payments).
A member of the program is allowed to contribute his own funds to purchase real estate in addition to a home mortgage loan and to pay off a mortgage early.
Nuances of registration and payments in case of divorce
The problem of the division of property, including that obtained through the participation of a husband or wife in the military mortgage program, inevitably appears during the divorce process.
It should be remembered that a dwelling purchased by a serviceman with the funds of a mortgage housing loan has a strictly special purpose and the exact addressee, and therefore, according to Russian legislation cannot be attributed to jointly acquired property in marriage. Thus, during a divorce, the other party cannot count on their share in the apartment or house received under the state program. An exception to the rule is the situation when both spouses are participants in the accumulative mortgage system and acquire joint housing.
On the other hand, in the event of a termination of the mortgage housing loan agreement with a serviceman, the second party in marriage is not liable for its execution. In addition, if one of the non-military spouses sent their own money to purchase housing under the military mortgage program (for example, to early repayment mortgage loan), he can apply to the judicial authorities with a claim for their compensation (with proof of costs).
Features of lending upon dismissal
Upon dismissal for own will or due to non-compliance with the terms of the contract, a soldier obliged to return to the state target housing loan funds (within 10 years from the date of dismissal) and repay the mortgage at their own expense. Otherwise, credit organisation and the state, represented by FGUK Rosvoinipotek, are entitled to file a lawsuit with the judicial authorities to recover the debt.
A different procedure is provided for the military, whose service life is more than 20 years, as well as persons with more than 10 years of service and retired for health reasons, in connection with organizational and staffing events or with special family circumstances. Such military personnel do not repay the target housing loan and have the right to use the funds accumulated in the personal account to purchase housing. At the same time, persons with an experience of more than 20 years can direct the savings of a personal account for any needs.
Payment procedure accumulated on the account of funds is determined by order of the Minister of Defense of the Russian Federation dated February 28, 2013 No. 166. Those who wish to exercise the right must write an application and submit it to the management of the organization. Additional funds for housing provided by Government Decree No. 676 are also available to the above categories of persons.
Finally, the means of nominal savings account are returned to the state if the serviceman did not spend the target housing loan on the purchase of real estate.
Innovations in 2016 in state program military mortgage:
- It is allowed to conclude a single agreement on a targeted housing loan for the joint purchase of residential premises by spouses if both of them are participants in the savings and mortgage system. The legislator suggested that the new law would allow military families to choose a more expensive and comfortable housing option.
- The rules for the payment of additional funds provided for by the state program have been changed.
Previously, a serviceman could not allocate additional funds to liquidate military mortgage debt if he or his family members owned a different dwelling. Very often, this forced the borrower to re-register or sell the property. The amendment of the Law on Mortgage allows such participants of the program to receive additional funds for the fulfillment of the mortgage obligation. - Military personnel cannot compensate for additional costs of obtaining a mortgage from the funds of a special purpose mortgage loan, for example, for insurance services, realtor work, real estate appraisal. An exception is made for persons who completed a housing loan transaction before May 6, 2016. It is assumed that such a measure encourages participants in the military mortgage to carefully select the object being credited and the offices that accompany the purchase of real estate.
The procedure for calculating the cash payment
Specialized mortgage programs for military personnel are implemented in most large banks. Each of them determines the interest rate for the use of mortgage funds and the "ceiling" of the mortgage loan. Loan repayments are set at earmarked contributions transferred by the state to the personal account of the participant funded program. In 2016, the amount of such contributions amounted to 245,880 rubles per month.
Let us dwell on the largest participants in the state program.
Sberbank offers borrowers the following military mortgage terms:
- the loan amount cannot exceed 2,010,000 rubles and 80 percent of the price of the loaned housing (under an agreement or peer review) or the price specified in the shared construction agreement;
- credit rate of the program - 12%;
- crediting period - up to 20 years, but not more than the term of the targeted loan.
- possibility to liquidate the debt ahead of schedule without commission.
- The borrower must be at least 21 years of age.
Bank military program VTB provides:
- the loan amount not exceeding 2,010,000 rubles and 80 percent of the price of the housing being financed (under the agreement or expert assessment) or the price specified in the shared construction agreement;
- the credit rate of the program - 12.1-13.1% (the rate rises when leaving the savings system);
- crediting period - up to 14 years, but not more than the term of the targeted loan;
- making a down payment of at least 15 percent of the property price;
- creditee must be:
- with at least one year of work experience;
- at least 21 years old when obtaining a loan;
- not older than 45 years at the time of liquidation of the debt.
Rosselkhozbank offers borrowers more low rate on a loan (11.3%) with a total loan amount from 300 thousand to 2 million 200 thousand rubles. Mortgage can be issued for a period not exceeding 23 years.
Military Mortgage Lending Program from Gazprombank provides loan allocations of no more than 2 million rubles for a period of up to 25 years at a rate of 12% per annum. The down payment for mortgage housing must be at least 20% of the property price.
Minimum interest rate under the military mortgage program Svyazbank- 9.5%. A mortgage can be issued for a period of not more than 20 years, its amount is 400 thousand - 2,200 thousand rubles.
For detailed information on the conditions for obtaining a military mortgage loan, it is advisable to look at the websites of these credit organizations.