Today, banks offer a large selection of lending programs that allow them to solve a wide variety of customer problems. Among all existing products, mortgage lending deserves special attention. Most often, a mortgage is used to purchase a home, but in practice it can also be used to implement a number of other tasks.

Subject of mortgage

Mortgage lending covers all real estate: buildings, buildings, houses and structures, cottages, garages, etc. Most often, residential buildings and apartments are purchased with a mortgage.

Individual land plots can also act as the subject of a mortgage and perform the functions of ensuring the repayment of loan funds by the borrower, i.e. collateral

A mortgaged apartment can be used as collateral for a loan. If the borrower has other real estate in his possession, it can also be used as collateral. Non-residential objects, for example, office premises and other commercial real estate, vehicles, and land plots, can also be used as collateral.

If the borrower uses the funds received under a mortgage loan to purchase real estate, he receives ownership of the property from the moment the relevant agreement is concluded.

Thus, a mortgage allows, first of all, to solve housing problems that are relevant to many citizens.

A mortgage allows you to own an apartment or even a whole house without wasting time on accumulating the required amount - this is its main advantage.

At the same time, the property purchased with a mortgage can be used at your own discretion immediately after the conclusion of the relevant agreements - there are no restrictions on the use of housing, except for the moments established by the contract.

Mortgage lending programs are designed so that the borrower is insured against possible risks (loss of property rights, loss of ability to work, etc.). The procedure for action in such situations is established separately by banks and is additionally regulated at the legislative level.

An important advantage for the borrower is also the presence of the so-called. tax deduction, according to which money spent on the purchase of real estate, as well as interest on such a loan, are not subject to taxation. This lowers your mortgage interest rate.

Also, the inherent advantages of a mortgage include long loan terms, due to which the amount of regular mandatory payments is relatively low.

In addition, there are special mortgage lending programs for certain categories of citizens, for example, young families, for maternity capital, etc. The features of such programs should be studied separately.

The main disadvantage of a mortgage, like any loan, is a fairly serious overpayment. In total, the amount of the overpayment may even exceed the amount of the loan itself. At the same time, the overpayment takes into account not only interest, but also mandatory annual insurance, payment for the services of specialists hired to evaluate real estate and support transactions for its registration, etc.

Also among the disadvantages is the difficulty of obtaining such a loan. Banks that issue mortgages have very serious requirements for potential borrowers. They may differ in different institutions, but general provisions such as citizenship and registration, income certificates, certain work experience, positive credit history, etc. remain the same for all financial institutions.

The standard procedure for obtaining a mortgage loan is as follows:

• A search for a bank with a suitable lending program is carried out. At this stage, you need to pay attention not only to the features of the available products, but also to your compliance with the requirements of the financial institution;
• documents are prepared about the loan recipient and his guarantors (at the request of the bank). The list of required documents is established by the financial institution. Based on the data received, the lender will be able to establish the maximum loan size and the conditions for its issuance;
• an insurance agreement is concluded that provides protection for the borrower and the mortgaged property;
• a mortgage loan agreement is concluded. At this stage, it is necessary to carefully study all the provisions of the document so as not to encounter unexpected problems in the future.

As a rule, after studying information about the borrower and making a positive decision, the bank informs the client about the maximum possible loan amount and gives a certain period (set by the financial institution) to search for an apartment or other object to purchase with a mortgage.

Having found a suitable property, the client notifies the bank. Next, the necessary contracts are concluded. The bank pays the real estate seller, and the client receives information about the procedure for repaying the debt.

The package of documents may vary depending on the requirements of a particular bank, but in general it remains standard. In total, you need to prepare two sets of certificates: the first - about the potential client, the second - about the property that you plan to buy with a mortgage.

The standard set of documents about the borrower includes:

• basic documents: passport, tax payer code, military ID, marriage certificate, etc. The full list is reported separately by the bank;
• documents on employment and income. This category, first of all, includes a standard 2-NDFL certificate or a document on a bank form, copies of employment contracts, documents from the place of employment, information about other regular earnings, etc.;
• documents confirming the presence of valuable assets in the borrower's property. This includes: documents for vehicles, real estate and other expensive things, statements of cash deposits, accounts and deposits, documents on shared ownership, availability of land shares, securities, etc.;
• information about guarantors. Typically, the list of documents regarding these persons is similar to the package for a potential borrower.

Real estate documents usually include:

• standard title documentation (certificates of registration, purchase and sale transactions, etc.), as well as documents of property owners;
• extracts from the cadastral or technical passport. Also, if necessary, an extract from the land registry is submitted;
• certificates confirming the absence of possible encumbrances. For example, the bank may require confirmation that the apartment is not pledged, the owner has no debts for various types of obligatory payments, etc.

The lists of documents provided may differ from the package specifically requested by your bank. Therefore, it is better to clarify the required list of certificates individually. Bank employees usually do not refuse assistance and explain in detail where you can obtain certain necessary documents.

When can a mortgage be refused?

After the borrower submits all the necessary documents and certificates, the bank will carefully check the information provided for accuracy.

For example, authorized employees can submit a request to the Pension Fund to clarify the amount of contributions made by the borrower, etc. If deliberately false or erroneous information is discovered (if the inaccuracies are the fault of the client), the bank will refuse to issue a cash loan.

The most common reason for refusals to issue a mortgage is the discrepancy between the borrower’s income and the size of the requested loan. In such situations, the bank either refuses to issue a loan or offers its own conditions to the potential client.

An aggravating factor when applying for any loans is the presence of a damaged credit history. To clarify such information about the client, banks contact the authorized organization - the Credit History Bureau. The base is common to all banks, so past violations of the terms of cooperation with one financial institution may make it impossible to work with another organization.

You can also get information about your credit history and assess your chances of getting a mortgage before visiting the bank. To do this, personally appear at the representative office of the Credit History Bureau and write an application there, or send an online request through the official website of the Bank of Russia.

Citizens who have had their mortgage application rejected have the opportunity to resubmit it after a time set by a specific bank. Most often it is 2-3 months.

Distinctive feature mortgage loan- this is a pledge: there is a pledge - there is mortgage, no deposit - no mortgages

Term mortgage:

The term “Mortgage loan” means a loan issued against collateral.
Main difference mortgage loan from non-mortgage - mortgage: that is, the presence of collateral. Moreover, mortgage can be issued both on the security of the property owned by the borrower, and on the security of the acquired property (when mortgage is issued simultaneously with the acquisition of property).

To better understand the difference between mortgage loan and not mortgage, I’ll give an example:
Secured by an existing apartment, the bank issues a loan, a “consumer loan,” which the borrower can use for anything.
This mortgage or not mortgage?
There is a deposit - that means there is mortgage, and the loan is a mortgage.

Another example:
The bank issued a loan for the purchase of real estate.
But he did not demand this property as collateral. No deposit - no mortgages. And the loan is not a mortgage.

I would like to emphasize once again that mortgage differs from non-mortgage in the presence of collateral.

Mortgage: a little history

The term " mortgage" - of Greek origin.
Even in Ancient Greece, it was possible to get loans secured by, for example, land. The borrower received money from the lender ( mortgage), and in order to avoid the temptation to obtain money secured by the same land plot from other creditors, he was obliged to install a special sign (post or stone) on the plot encumbered with the mortgage. This sign announced that this plot was in collateral, that under its collateral mortgage already received.

What is the difference between “mortgage” and “pledge”

As already stated, mortgage- this is a pledge. But not every pledge - mortgage. The fact is that mortgage- This is a pledge that is of a public nature. At mortgage real estate, the authorities registering transactions make appropriate entries that the property is encumbered with a pledge. Any interested person may request an extract from the State Register of Rights to Real Estate and Transactions with It. In this extract, if the property is mortgaged, it will be indicated that there is an encumbrance: a pledge.

Mortgage credit lending

Mortgage credit lending- a long-term loan provided to a legal entity or individual by banks secured by real estate: land, industrial and residential buildings, premises, structures. The most common option for using a mortgage in Russia is for an individual to purchase an apartment on credit. In this case, as a rule, newly purchased housing is mortgaged, although it is also possible to mortgage an already owned apartment. Please note that a mortgage is a public security. When real estate is mortgaged, the authorities registering the transactions make appropriate entries indicating that the property is encumbered with a pledge. Any interested person may request an extract from the State Register of Rights to Real Estate and Transactions with It. In this extract, if the property is mortgaged, it will be indicated that there is an encumbrance: pledge.

Mortgage loan classification

Mortgage loans are classified according to various criteria.

By property:

• enterprises, buildings, structures and other real estate used in business activities;
• residential buildings, apartments and parts of residential buildings and apartments, consisting of one or more isolated rooms;
• dachas, garden houses, garages and other consumer buildings;
• air, sea, coastal navigation vessels and space objects; unfinished construction projects*

• purchase of finished housing in an apartment building or a separate house for one or more families as the main or additional place of residence;
• purchasing a house for seasonal living, a summer house, garden houses with plots of land; acquisition of land for development.

By type of creditor:

• banking and non-banking

• as subjects of lending: loans provided to developers and builders; loans provided directly to the future owner of the property;
• loans can be provided to bank employees, employees of companies that are bank clients, clients of real estate firms and persons living in the region, as well as to everyone.

Mortgage lending is provided by various credit institutions. The peculiarities of their activities lie in the method of refinancing issued loans

Rights and obligations of the borrower

By purchasing an apartment with the help of a mortgage, a citizen becomes the owner of this home. However, his rights as an owner are limited because the premises are collateral. The debtor has the right to register his family members, as well as to make a will. But at the same time, you need to remember that the heir will receive not only square meters, but also your obligations. Permission from the lender/mortgage holder is required if:

• it is planned to issue permanent registration for family members,
• there is a desire to remodel,
• Borrowers intend to rent out, sell or exchange housing.

Factors on which the loan amount depends

The amount of mortgage you can get depends on:

• the amount of your income;
• loan term;
• the cost of the purchased property;
• down payment.

The loan payment cannot exceed a certain percentage of your income, usually 40–50% (payment/income ratio). At the same time, taxes and expenses on existing financial obligations (payments on previously received credits, borrowings, loans, alimony, etc.) are pre-deducted from your income. Much depends on the program of the bank itself, the object of the loan: primary, secondary market, country real estate or just land. When calculating the specific characteristics of a mortgage loan, you also need to take into account the terms of the loan, which provide for different repayment schemes. Main forms of repayment:

Mortgage system participants

Participants in the mortgage system are:

• banks that check the borrower's solvency;
• appraisal companies that assess the market value of an apartment;
• insurance companies that are required to insure risks arising during mortgage lending;
• mortgage brokers who help the borrower choose the most suitable lending program.

History of mortgages in Russia - main milestones

Current situation

According to the Expert RA agency, the volume of the mortgage lending market at the end of 2012 will amount to a record 1.1 trillion rubles. As experts note, in the first half of the year the volume of the mortgage market amounted to 430 billion rubles, which is 57 percent higher than the results of the same period last year. According to analysts, the steady growth of the market was ensured by low rates, the entry of new players into the market and an increase in the pace of housing construction.

Main trends

• Rising interest rates
• Tightening requirements for borrowers
• Reduced competition.
• Development of social mortgage.
• Increase in mortgage issuance in the primary market

Main players

Sources

Wikimedia Foundation. 2010.

See what “Mortgage lending” is in other dictionaries:

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Do you think that a mortgage is just money for buying an apartment? This is far from true. The concept of a mortgage is much broader than you think. Sravni.ru knows how to save on this loan.

A mortgage is money you borrow from a bank against real estate. Basically, a mortgage loan is issued for the purchase of an apartment or house. However, it is possible to obtain a loan for other needs - to pay for any goods and services.

Background

The concept of “mortgage” originated in ancient Greece (presumably in the 6th century BC). This term was used to describe a post with information about the pledge of a plot standing on the debtor’s land. Literally, “mortgage” is translated into Russian as “stand.” Also, the pledge of real estate to secure obligations was used in Ancient Egypt. Today, a mortgage is considered to be a loan issued by a bank, secured by real estate (apartment, house, land, garage, etc.).

Features of a mortgage

Everyone has their own mortgage

The state, together with banks, supports certain categories of citizens so that they can afford to purchase their own housing. A lending program has been developed for young families and the military; “reverse mortgages” are beginning to develop for pensioners; less often, persons who do not have Russian citizenship can obtain a loan.

In modern realities of life, when the world's population is steadily growing, one of the most pressing issues is housing. It is no secret that not every family, especially a young one, can afford to purchase their own home, so more and more people are asking what a mortgage is and how to get one. What advantages does this type of lending have and is it worth the candle?

The essence of a mortgage is that if you do not have good relatives who can lend money for free to purchase housing, and you really want to have your own apartment, you can contact the bank and get the necessary amount. However, this type of loan is somewhat different from the usual consumer loan to which we are already accustomed. We'll find out what exactly it is.

What is a mortgage and how to get one without problems

First of all, you need to understand that a mortgage loan is a targeted loan for the purchase of a specific property, and unlike a consumer loan, you will not be able to use the money at your own discretion. In addition, in this case, the collateral most often becomes the purchased object itself - an apartment, a store, an industrial premises. Therefore, it can be argued that there is a mortgage to secure obligations to creditors. Banks, by the way, accept not only housing - collateral can be a car, a yacht, or a plot of land. However, a feature of this type of lending is that the object acquired in this way becomes the property of the borrower immediately from the moment of acquisition.

In Russia, the most common option for this type of lending is a home mortgage. Moreover, as a rule, it is the purchased apartment that is given to the bank as collateral, although, as an option, you can also pledge existing real estate. This type of service is offered by almost all banks - Sberbank, Gazprombank, Alfa-Bank, VTB. A mortgage to any credit institution is always beneficial, because even if the borrower does not have the funds to pay off the debt, the bank will still have the collateral. That is why the latter willingly issue such loans, vying with each other to offer “favorable” conditions.

Who will get the loan and what is needed for it?

In order for an apartment with a mortgage to become a reality, you will have to “sweat” quite a lot, collecting the necessary package of documents. But we’ll talk about it a little below, and now let’s draw up some average portrait of a potential client who can get a mortgage loan:

1. First of all, age - the ideal range is from 23 to 65 years.
2. Level of Trustworthiness – You will need an impeccable credit history. If you don’t have one, then before applying for a large loan, take a couple of consumer loans and carefully pay them off. Of course, a consumer loan is not as large as a mortgage, and you will pay a much smaller installment, but having two or three loans repaid on time will have a very positive impact on your image in the eyes of the bank.
3. Work experience - more than two years, with at least 6 months at the last place of work.
4. Availability of “white” income sufficient to repay the monthly payment.
5. And, of course, you have to collect a huge list of documents, and the more serious the bank, the more papers, certificates and receipts they will ask you for.

Of course, the requirements described above are a generalized version; in advertising brochures you can find slightly different indicators. For example, some banks state on the pages of their prospectuses that they are ready to issue mortgage loans to persons over 18 years of age. Or another option: supposedly for a positive answer you do not need a certificate of income. So, know: most often this is just a publicity stunt. Clients who know from their own experience what a mortgage is and how to get one say: if you do not meet the above requirements, you will not be given a loan for an apartment. And who can guarantee a positive answer?

So, you are most likely to be given a loan if:

• you have at least 20% of the cost of the purchased home for a down payment;
• your official salary is at least twice the monthly payment;
• the mortgage is issued for an apartment, and not for a plot of land or a private house;
• all able-bodied family members have official employment with a “white” salary;
• there is other real estate that already belongs to you by right of ownership (you won’t need to mortgage it either);
• you have no outstanding loans or other debt obligations;
• you do not act as a guarantor for loans from relatives or friends;
• work experience at the last place of work is more than 2-3 years;
• you can provide one or two solvent guarantors (required quite often, but not always).

Documentation

So, you have decided that the only way to improve your living conditions is a mortgage. Banks will require an impressive package of documents from you. Let's look at it in more detail.

The general list looks like this:

• bank application form;
• application for a mortgage - sometimes you can apply for it online by visiting the official website of the institution;
• a photocopy of a civil passport or a document replacing it;
• a copy of the state pension insurance certificate;
• certificate (copy) of tax registration in the Russian Federation (TIN);
• men of military age will also need a copy of their military ID;
• photocopies of documents about the education received - diplomas, certificates, etc.;
• copies of marriage/divorce and birth certificates;
• marriage contract (copy), if available;
• a photocopy of the work book (all pages) with the employer’s identification record;
• any documents confirming the amount and source of your income - personal income tax form 2, bank statements, receipts for receiving alimony or regular financial assistance, etc.

Some banks have enough of these documents, but most often a mortgage loan requires much more paperwork. For example, you will most likely need to prepare:

• Form 9 - certificate of registration at the place of permanent residence;
• photocopies of civil passports of all persons living with you, as well as immediate relatives (parents, children, spouses), regardless of their place of permanent residence;
• a certificate of pension amount and a copy of the pension certificate for non-working relatives of the corresponding age;
• copies of death certificates of all deceased immediate family members - spouses, parents or children.

And again the documents

If you have any expensive property, then you will need title documents confirming ownership - deeds of sale, deeds of gift, privatization certificates for a dacha, apartment, car, etc. You will also need a certificate in Form 7, characterizing the parameters of the residential property you own. non-residential premises.

If you own shares, bonds, etc., you will have to provide an extract from the register of securities owners.

A home mortgage is a responsible matter. So you definitely need to provide documents confirming your trustworthiness - a credit history, copies of receipts for timely payment of telephone and utility bills, rent for the last few months, or better yet, for a year or two.

If you have bank accounts - card, current, deposit, credit, demand, etc. - you will need documents confirming their existence.

In addition to everything, to apply for a mortgage loan, be sure to have a certificate confirming that you are not registered with a psychoneurological or drug treatment clinic.

When contacting the bank, you will need not only copies, but also originals of the above papers, and if you have a co-borrower, he will have to prepare the same package of documents.

And once again the documents

Additional documents may be needed for those who work for themselves and have their own business. These can be copies of constituent documents, accounting statements about profit/loss for the last few years, staffing tables, copies of main contracts, balance sheets - in general, any documents that can confirm the financial stability of your enterprise and its ability to develop dynamically.

If you are an individual entrepreneur without forming a legal entity, the bank will most likely ask you to provide:

• registration certificate;
• receipts for payment of taxes and contributions to various funds;
• copies of bank statements for the last few years;
• book of expenses and income (if any);
• photocopies of premises rental agreements and other documents confirming your stability and solvency;

As you can see, getting an apartment with a mortgage is quite a troublesome matter. After all the necessary documents have been submitted, you must wait for the bank’s decision to issue a mortgage. Typically, the review period can take from a day to several weeks, but some banks offer an “express mortgage” service, when a decision can be made in two to three hours. Once you have received pre-approval, you can start looking for an apartment.

How to choose a bank: the most profitable mortgage loans

If the long list of required documents does not frighten you, and you have only become stronger in your decision to take out a home on credit, let’s take a closer look at the question of how exactly to choose the best offer. It’s clear that paying off a mortgage is a long and quite expensive process, and, as you know, no one wants to overpay. What should you pay attention to when choosing a credit institution?

1. First of all, you should carefully study the programs offered by banks. At the same time, try to pay attention to institutions that have been operating on the market for several years and have a proven reputation.
2. If you already have a card (any) from any of the banks, and you are generally satisfied with its work, then first of all turn your attention to this company. The fact is that many financial institutions usually offer special, more favorable lending conditions to regular customers than to people who contact them for the first time.
3. Pay attention not only to the interest rate, but also to the likely number of one-time payments, the amount of which in the end can be quite large. Such “commissions” may be charged by the bank for issuing various certificates, insurance and other services.
4. Be sure to explore the possibility of repaying the loan early. For example, in a bank such as VTB, a mortgage can be repaid ahead of schedule without problems, while other credit organizations in this case oblige the client to pay some additional fines and penalties. This may also affect your choice.
5. Almost every banking institution has its own website where you can easily find a mortgage calculator. This is quite convenient: by filling in the appropriate fields, you can approximately calculate how much you will have to pay monthly. Compare these indicators by browsing through the pages of several banks and determine the most advantageous offer.

In order not to get confused with a large number of offers, you can create a small table for yourself, where the columns will be the lending conditions, and the rows will be several banks offering mortgages. Be sure to use a mortgage calculator - it will greatly facilitate your calculations and help you determine the total overpayment and the amount of the monthly payment.

Columns (criteria) can be like this:

• mortgage term;
• interest rate;
• monthly payment;
• third-party commissions, one-time payments;
• the need to confirm income;
• possibility of early repayment;
• the amount of the initial mandatory contribution;
• sanctions for late monthly payments;
• promotional offers.

Of course, you can add to the proposed list of criteria at your discretion. Do not rush to choose the bank with the lowest interest rate - perhaps all other conditions will not be so favorable. So evaluate all points as a whole.

Social mortgage loan

There is one more point that you need to pay attention to when choosing a bank. The fact is that for some categories of citizens a so-called social mortgage is provided - preferential lending aimed at providing housing to vulnerable segments of the population who are simply not able to purchase an apartment under a “commercial mortgage”.

The main difference between this type of lending is the cost of one square meter of purchased housing. In order to take part in the program, you must write an application to improve your living conditions and register with the Administration at your place of residence. There your application will be reviewed and the appropriate decision will be made. One of the main criteria for registration is compliance with the Decree of the Cabinet of Ministers of the Republic of Tajikistan No. 190, from which it follows that the standard for providing a total housing area per person is 18 m2.

For example, public sector employees can become participants in the Social Mortgage program. The loan can be issued at only 7% per annum and for a period of up to 28.5 years, and most often you do not even need to make a down payment.

However, not all banks work with this type of lending. The necessary information about where it can be applied for, as well as whether you can apply for it, can be found in the city (district) administration. Most often there is a department responsible for

Lending to a young family

If people of the older generation mostly received housing back in Soviet times, then mortgages for young families are today practically the only way to acquire their own housing and become independent. Fortunately, this type of lending is also supported by the state.

Every young family can take part in the federal program and qualify for a state subsidy to purchase their own home. The normal area for a family of 2 people is 42 square meters. Such a family can qualify for a subsidy in the amount of 35% of the cost of housing. If a young couple has children, then the housing standard is calculated as 18 m2 per person, and the amount of the subsidy increases to 40% of the cost of the apartment.

State mortgages can be provided to young people not only if they are married - “singles” can also qualify for a preferential loan. To achieve this, the practice of student construction teams, which are being formed in many universities, is being revived throughout the country. After a soldier of such a detachment has worked one hundred and fifty shifts “for the good of the Motherland,” he receives the right to obtain a mortgage for an apartment at cost. Thus, with a little work, you can purchase housing 2-3 times cheaper than its market value.

Mortgage for military personnel

The nationwide Military Mortgage program is another option to support the population. The program is aimed at military personnel through a savings mortgage system. It all depends on the military rank of the participant and the date of conclusion of the first contract for service.

The essence of the “Military Mortgage” program is that annually the state transfers a certain amount to the individual account of each military personnel, the amount of which is regularly revised by the Government of the Russian Federation depending on the level of inflation and other indicators. Over time, the accumulated amount can be used as

Advantages and disadvantages

Now that you have at least understood in general terms what a mortgage is and how to get one, it is simply impossible not to dwell on the main advantages and disadvantages of this method of lending.

Of course, the main advantage of a mortgage is that you can get your own apartment now, and not save for it for many years, “hunkering around corners.” Since the loan is issued for many years, the monthly payment is usually not too large, and the average Russian is quite capable of repaying it.

However, despite all the “rosiness” of the prospect, one should not forget about the shortcomings, among which, first of all, one should mention the huge overpayment of interest, sometimes reaching more than 100%. In addition, almost every mortgage agreement necessarily contains third-party costs - for maintaining a loan account, for processing an application, various insurances, commissions, and so on. All this together can reach 8-10% of the cost of the down payment. And, of course, a huge list of documents, although this is not surprising, because the bank entrusts you with considerable funds, and for a very long period of time.