A loan issued by a bank for the purchase of your own housing: an apartment or a house, secured by security. Despite the many complaints associated with long-term debt obligations, often a mortgage is the only realistically possible chance to improve living conditions, given that housing becomes property immediately after purchase. A competent borrower, before turning to a bank for credit assistance, will familiarize himself with the types of mortgage lending and choose the best option for himself. Financial literacy will allow you to avoid risks and overpayments.

Types and characteristics of a mortgage loan

Credit organizations are developing mortgage lending programs for different categories of citizens, taking into account their needs and capabilities. Therefore, the number of types of mortgages is increasing; they differ not only in names, but also in terms of provision, requirements for the borrower and property, as well as the characteristics of the financial product.

Collateral options

Real estate collateral is mandatory when executing a mortgage loan agreement. It allows you to reduce the bank’s possible risks if the borrower loses the ability to repay the debt and disciplines the borrower to conscientiously fulfill their obligations. It should be noted that the collateral is not the property of the bank, but belongs to the borrower. Only in case of non-payment does it, by a court decision, become an object of sale to compensate for the unpaid debt.

Based on the collateral options, we can distinguish two types of mortgage lending:

1. secured by real estate owned before receiving a loan;
2. secured by purchased real estate using bank money.

The first option has favorable conditions and a low interest rate, but is not in demand for objective reasons:

• Having his own home, a person most often does not need to buy an apartment on credit;
• the risk of losing existing property along with the acquired property increases.

The second option is more different high stakes and restrictions on the use of real estate, but is the most popular. The borrower uses the bank’s money to buy a home, which he keeps as collateral until full repayment debt.

Insurance against loss and damage to residential premises is a mandatory procedure that cannot be canceled before the end of the contract.

Classifications by lending object

Lending programs may vary based on the characteristics of the mortgaged object:

1. apartment in a new building;
2. ready Vacation home with a land plot;
3. for the construction of a private house according to an individual project;
4. housing on the secondary market.

The borrower, based on his own desires and capabilities, determines the housing option. Each of them has its pros and cons, expressed in the duration of the approval process, the amount of the amount and the required package of documents.

Buying an apartment in a building at the construction stage allows you to save on price, but the interest rate offered by the bank will not be the most optimal. To conclude an agreement, you will have to submit a substantial package of documents and first agree on the developer with the lender.

A mortgage for country housing allows you to purchase a house, cottage or apartment in a multi-level townhouse in new villages. Advantage this option is that, receiving ownership a private house outside the city, in an ecologically clean area, the borrower saves money due to the fact that prices for such objects are reduced due to undeveloped infrastructure and standard design.

A mortgage loan issued for the construction of a house on your own land requires the availability of collateral property correlated with the loan amount. An additional collateral increases the possibility of approval of the application, allows you to count on a significant amount, but increases the financial risk of losing property in the event of problems with debt obligations.

A loan provided by a financial institution for the purchase of housing that already has an owner is the most popular due to objective advantages:

• complete readiness for move-in;
• developed infrastructure;
• the possibility of preliminary acquaintance with neighbors;
• preferential lending conditions;
• the opportunity to reduce the price by bargaining with the owner.

Housing on the secondary market needs compulsory insurance property rights in order to avoid situations associated with an unclean transaction.

Types of loan conditions

Mortgage loan may vary depending on terms and conditions Money. Standard requirements are::

• Russian citizenship;
• age of majority.

Additional terms and the requirements are optional, when providing the main thing - confirmation of solvency and reliability, but are often an important argument for approving a loan and providing benefits and benefits:

• Having a higher professional education means that the borrower will be provided with a high-paying job.
• The fact that the borrower is of working age increases the guarantee of debt repayment.
• A married borrower is trustworthy if the other half works and the number of dependents does not exceed two.
• The greater the total length of service and the duration of work in one place, the higher the level of favor.
• The place of work matters; employees of government agencies, corporations and large companies have an advantage.
• The level of active and passive income, documented.
• Authentic documents and truthful information are the basis for issuing a mortgage.

Loan conditions such as the size of the down payment, the mortgage term and the interest rate have standard parameters, but are calculated individually depending on the desired loan amount, the applicant’s income level, and his age.

Banks often do not limit the choice in terms of payment procedures and offer two options: differentiated and annuity. Regarding the terms of insurance, banks, except compulsory programs, motivate the borrower by reducing rates to conclude additional ones.

With mortgage terms must be read before submitting an application.

If you want to buy a home with a mortgage, you should understand that a mortgage always involves the collateral of real estate or other valuable, highly liquid property that secures the borrower’s financial debt obligations. The essence of a mortgage is the preliminary consent of the borrower that if he fails to fulfill his obligations under the contract, the real estate will become the property of the lender.

Absolutely every person needs housing. But not everyone can afford to buy it right away without taking out loans. That's why you have to take out a mortgage. The solution, of course, is not the best, but very common. But every person who is not educated in the topic first wonders: what types of mortgages exist in principle? And, since the topic is relevant, it is worth talking about it in a little more detail.

The most common option

When discussing what types of mortgages exist in principle, it is worth first of all paying attention to lending on the secondary market. Because this is the most popular option. The principle is simple. A person must find an apartment that other people are selling and sign a mortgage agreement. After that, he purchases housing with the bank’s money, which he then gives to them.

There are some peculiarities here. First you need to find the most suitable bank according to the conditions. The best in this regard are those that are state-owned. Their mortgage loan system is worked out down to the smallest details.

After a person chooses the most advantageous mortgage offer for himself and finds out the amount of money that can be given to him, he can begin searching for housing. And before the contract is drawn up, you will need to pay the bank a commission and insurance.

About the conditions

When talking about the types of mortgages, one cannot help but note what kind of secondary housing they can be issued for.

So, the apartment should not be located in a building that is subject to demolition or requires repair and reconstruction. It is desirable that it be in good condition. After all, a mortgage is issued for up to 30 years, and the bank is obliged to make sure that if a person cannot pay off the debt, then he will be able to compensate for the losses by selling the home.

The apartment must also be residential. That is, to be in an ordinary house, and not belong to a hotel or communal complex. And it must also have a standard layout that matches the BTI plan. By the way, banks rarely give mortgages for the purchase of apartments located on the ground or first floors. And to the Khrushchev buildings.

The borrower must also meet certain conditions. He must be a solvent citizen of the Russian Federation with at least one year of work experience. And it is better to refrain from taking out a loan if your salary is low, since every month you will have to pay up to 45% of your salary.

With equity participation

In the list of types of mortgages, this particular one ranks second. There are reasons for this. An equity mortgage is essentially a loan to purchase a home in a new home. And, due to the fact that the building has not yet been put into operation, prices for such apartments are 20-30% lower than for ordinary ones.

The principle in this case is somewhat different from the previous one. First, a person must choose a developer. He will send him a list of banks that cooperate with him. And among them, a person chooses the one that offers the most favorable lending conditions. The second option is similar, but exactly the opposite. First, a person identifies a bank, and then chooses a developer - from the list that was handed to him there.

True, there are also disadvantages in this case. For example, a higher interest rate (by 1-2%), a delay in the commissioning of the facility. However, there are downsides everywhere.

For a young family

In recent years, this particular mortgage has been gaining great popularity and helps many people out, especially if a young family needs housing. The bottom line is that local authorities provide a subsidy with which people pay the down payment. This way you can reduce the loan amount.

A childless family is allocated 30% of the cost of the apartment. People who have a child - 35%. To get a preferential mortgage, you need to get on the waiting list. When it is the turn of a particular family, they are given a certificate for purchasing an apartment. This is the way to make a down payment to the bank to obtain a loan.

You should know that a young family is considered to be those couples in which each person is no older than 35 years. They are given a mortgage for up to thirty years. But deferments are possible (this is another plus of preferential lending), and with them it turns out to be about 35. However, even to get such a mortgage, you must meet several conditions. First, each spouse must be a citizen of the Russian Federation. And officially employed, with a source of income that can be confirmed by a certificate. The minimum age of each person is 18 years.

Loan to improve housing conditions

This topic should also be noted with attention when talking about the types of mortgages. Many people already have housing, but often the family needs either expanded living space or improved conditions. Such issues are usually resolved simply. People sell the apartment they have, and then use the proceeds to buy another home, paying extra with money issued by the bank as a mortgage.

The main advantage of this type of lending is that it can be issued without collateral or commissions. Local and federal programs are also widely practiced, providing preferential conditions for teachers, for example, for large families, etc. Moreover, a loan to improve housing conditions can be issued even without providing a certificate from a permanent place of work. AND interest rates less.

Information for foreigners

Many people who are citizens of other states are interested in the question: is it possible for them to get a mortgage with a residence permit? The topic is interesting. Well, buy a home in Russian Federation anyone can. But this is not done for full amount, and taking out a loan is very difficult. Financial organizations try to avoid transactions with foreigners, since they do not have Russian citizenship, which means they can easily leave the country without repaying the debt. In this regard, banks are tightening their requirements towards borrowers as much as possible. However, there are also banks that consider foreigners to be the most conscientious payers. But in general, residential mortgages are a reality. But you can talk about the conditions in more detail.

Requirements

Well, if a foreigner decides to take out a mortgage with a residence permit, then he needs, firstly, to be officially employed in Russia. Also pay taxes and have at least six months of work experience in the Russian Federation. You will also have to prove the fact that the foreigner will work in Russia over the next 12 months. You can simply provide a contract with the employer and a certificate of income. Age also matters. The most optimal age is from 25 to 40 years.

But some banks put forward additional requirements. For example, the minimum work experience in the Russian Federation may not be 6 months, but two or three years. And the down payment, which is usually 10%, will increase to 30%. Guarantors or joint borrowers (citizens of the Russian Federation) may be required. And the bank will register the loaned real estate as collateral. And, of course, there will be an increased interest rate. In general, it is quite difficult for foreigners to get a mortgage.

They differ in certain nuances, and this situation is no exception. A foreigner will have to collect a whole package of documents, in addition to the standard ones (certificates of income, length of service, contracts with the employer, etc.). You will need your civil passport and a notarized copy with a translation into Russian. Also - permission to work in Russia and to enter the state (visa). You will also need a migration card and registration in the region where the loan is issued.

Pledge

Everyone knows well: in order to get a loan, you need to provide the bank with a certain value, which it can take for itself as compensation for the outstanding debt (if the payer is not able to repay the money). Mortgages are no exception. The type of collateral in this case is real estate. Which is what a person intends to purchase by taking out a loan.

Everything is simple here. A person applies for a loan from a bank (or other financial organization), with the condition that the apartment purchased with the allocated money will act as collateral. All participants in the transaction benefit. The borrower finally receives the money and buys the apartment. The bank makes a profit in the form of interest rate payments, and due to the fact that the collateral is the housing purchased by the client, it minimizes the risk of non-repayment.

And everything is done in a few steps. First, the client receives bank approval. Then he chooses housing, studying the primary and secondary markets. Then he evaluates and insures the property. And finally, he signs the contract, receives the money, pays for the transaction, and then moves in.

About the pitfalls

Now it’s worth talking about the encumbrance in the form of a mortgage. The word itself already contains the essence of the definition. The encumbrance of an apartment purchased with a mortgage is expressed in limiting the rights of the owner, as well as in imposing responsibilities on him.

To put it simply, a person can transfer his home for temporary use to others, rent it out, or try to sell it to pay off a debt. But all this is only with the permission of the mortgagee. The role of which in this case is the bank. All encumbrances are removed from a person when he pays off his debt. From that moment he becomes the full owner of the apartment.

But if, for example, he wants to sell it when the debt has not yet been paid, he will have to take care of the nuances. In addition to the purchase and sale agreement, a deed of transfer, written permission from the mortgagee and a statement from the parties to the transaction will be required.

Insurance

It has already been mentioned several times above that the purchased housing will have to be insured. This is true. What types of mortgage insurance are there? There are two of them - mandatory and optional.

So, you will have to pay for insurance in any case. But these are low expenses. By law, the borrower is only required to insure the collateral, that is, the apartment for which the loan is taken out. Usually this is about 1-1.5% of the total amount.

By taking out additional insurance, you can protect your home from damage and loss. And also - a title against loss of ownership, which can happen due to fraud or double sales. In the end, even the life and health of the client will be protected. After all, a loan to purchase a home is taken out for an average of 10-15 years. This is a long time, and during this period anything can happen to a person, because life is unpredictable.

How to benefit?

Well, mortgages bring profit only to banks and developers, but borrowers also want to avoid getting into trouble. And if you want to save money, it is better to take out a loan for the shortest possible period. The benefit can be calculated on simple example. Let’s say a person takes out 1 million rubles on credit at an interest rate of 13% per annum. If he took this amount for five years, then he will have to pay 23,000 rubles monthly, and as a result, the overpayment will be 366,000 rubles. Having taken out a mortgage for 15 years, he will pay 13 thousand rubles. It's less! Yes, but only at first glance. As a result, he will overpay 1,300,000 rubles. So the issue regarding timing needs to be resolved first.

But which of all the previously listed options is best? You can argue for a long time, listing the pros and cons. To each his own. But if we judge objectively, then the option of purchasing housing under construction is the best. Firstly, you can save significantly - from 1/5 to 1/3 of the total amount. And an overpayment of 1-3% at the rate will not play a special role here. Secondly, you don’t have to worry about delays in terms of commissioning. Now banks enter into agreements only with trusted developers, so the risks are minimal. But, again, everyone must decide for themselves.

Mortgages have already become a part of our lives, and this is no secret. Many families, especially young ones, resort to this service, which allows them to purchase real estate on favorable terms. The main advantage of a mortgage is that the cost of the apartment, along with interest on a kind of loan, is divided over 15-20 years, which allows you to pay an acceptable amount each month.

Today in Russia there are various types of mortgage lending, which differ in their conditions. First, we need to consider the concept of “mortgage”: what does it mean and where did this word come to us?

What is a mortgage?

This term has its roots in the 6th century BC. e. At this time, the concept of hypotheca appeared in Greece, meaning the responsibility of the debtor to the creditor associated with land ownership. In Roman law, a mortgage was the security of real estate.

In our country, this term first appeared at the end of the 19th century and was borrowed from Europe. Mortgage at that time was synonymous with the word “collateral”. In Soviet times, there was no lending, since no one needed it.

In 1998, the President of the Russian Federation signed and enacted the Law “On Mortgage,” which was the first law designed to regulate collateral activities. Currently, the term “mortgage” means an agreement to pledge property.

Objects and subjects of mortgage

As already noted, mortgage lending implies that the purchased property will be pledged for the duration of the loan repayment. A mortgage is an agreement, the parties to which are the object and the subject of legal relations. Possible mortgage lending objects are presented below:

• apartments, houses, as well as individual rooms;
• a land plot that does not belong to the state and is not municipal property, and also exceeds the minimum permissible area;
• garages, cottages, as well as other structures and buildings intended for consumer use;
• enterprises that find application in entrepreneurship;
• sea ​​vessels.

The lender plays an important role in obtaining a mortgage. This may be a bank or other legal entity that will keep records of loan repayments. Mortgage credit lending individuals is carried out only after making an initial payment.

In addition to creditors, the subject of the agreement can also be an investor who buys securities that are secured by mortgage loans.

Mortgage lending device

For implementation, special securities called collateral are issued. The bank's sale of these securities provides the funds necessary to issue mortgage loans. This is a very reliable type of securities that pays fixed interest. The property that relates to it is noted in the pledge paper.

It is becoming increasingly popular in Russia, and people who decide to take this step should clearly know how the mortgage system works. The collateral paper must necessarily contain a coupon book that reflects the amounts and dates of payment mortgage interest. People who take advantage of this type of loan pay interest first and then the principal.

The fact that the mortgage is taken out for a long period of time makes repaying the loan much easier. However, if the loan debt is not paid in full, the property will become the property of the mortgage bank. This is exactly how the mortgage lending mechanism currently works.

State assistance

Since 2009, there has been a state mortgage support program aimed at people who are unable to improve their living conditions due to low incomes. However, it was only in 2015 that this program became popular. About 250 billion rubles were allocated for citizens.

State support for mortgage lending means that the state undertakes to pay a certain part of the debt. However, taking out a loan under such a program is not easy, since not all banks agree to such conditions. This program can only be used in largest banks countries.

The essence of state support is an agreement between the bank and the state. The bank reduces its interest rate to 11%, regardless of what it was originally. The difference between the initial rate and the final rate (11%) is paid by the state. To become a participant in this program, you do not have to belong to a social category of the population. Anyone can take out a loan under these conditions.

Types of mortgage lending

Currently, due to the fact that the number of such loans is growing, there are many different types of loans. They are mainly involved in issuing loans. commercial banks, whose main goal is to make a profit.

All types differ from each other in terms of lending, features of their receipt. At the moment, mortgage lending to individuals can be divided into two segments:

• acquisition on the primary real estate market;
• purchase on the secondary real estate market.

The variety of types and types of mortgages will be discussed below.

Apartment in a new building on credit

This type is especially popular at the moment. However, despite all the visible advantages (a new apartment, no one has lived before), there are also a number of disadvantages. Very often a situation arises when a house is not delivered on time or is not registered with a certain government agency for a long time.

Also, one of the main disadvantages of a new building is the lengthy registration of ownership. In addition, it is quite difficult to get a loan for the purchase of a new building, since not all banks do this. If the bank nevertheless accepted the application, each case is considered separately. A lot of factors influence the final decision, including finding out who the developer is, the investor, what is the deadline for the completion of the house, etc. Apartments in new buildings can be purchased quite inexpensively, and good option in such conditions a mortgage becomes. When choosing an apartment, a young family almost always gives preference to a new home.

Apartment on the secondary real estate market

Features of this type of mortgage lending include fairly quick processing and comparative ease of obtaining. In this matter, it is necessary to contact several banks, even in case of refusal. After all, the reason why a refusal occurred in one bank will not be sufficiently thorough in another.

As already mentioned, such a loan is easier to obtain than in a new building, in particular due to the fact that there are few grounds for refusal. Among them:

• the seller remodeled the apartment and did not register this fact;
• the legal purity of the house, perhaps someone lived there with an unfavorable history.

Social type of mortgage

This type of mortgage lending is intended for socially vulnerable segments of the population, as well as those on the waiting list who are not able to buy real estate on normal terms. There are two types social mortgage:

• intended for waiting lists, when the initial payment is provided by the city in the form of a subsidy;
• the loan is provided at construction cost prices; After six months, the recipient of this loan can repay the debt without any interest.

In the future, it is planned to purchase real estate under a social program from the developers themselves at market prices. But those on the waiting list will also be able to take advantage of this by paying for the apartment with subsidies. The longer you wait in line, the larger the subsidies. Also, those on the waiting list are able to buy real estate that was built not only by the city.

Type of mortgage for young families

The problem of purchasing real estate for newly made spouses is especially acute. Banks do not want to take risks, and the interest rates are quite high, since the future of young professionals is unpredictable. However, recently some banks are meeting the needs of young people halfway and creating new programs.

Basically, mortgage lending programs of this type are aimed at reducing the down payment and maximizing the loan period. If one of the spouses is under 30 years old and there is a child in the family, the initial contribution can be 10%. If young professionals have already secured a promising job, the down payment becomes 5%, and the mortgage is issued for 25-30 years.

Of course, in modern conditions, one of the most realistic options for buying a home is a mortgage. A young family is looking for various ways to improve loan conditions. The main problem is to prove to the bank that your intentions are serious. If this can be done, the bank will not refuse.

“Building Together” program

Types of mortgage lending are very diverse, and in each of them certain programs are created. The essence of “Building Together” is a long-term installment plan, which is repaid at the expense of the population.

The task of a person who is going to buy a home is to save about 40-50% of the cost of the apartment, and the rest is added by the cooperative. As soon as real estate is purchased, it becomes the property of that person, but on security. The part that the cooperative gave must be repaid within a maximum of 20 years. Then the deposit is removed and the person becomes the full owner.

Military Mortgage Program

All mortgage lending programs are aimed at improving loan conditions, and this one is no exception. This is a funded system for providing housing to military personnel.

The peculiarities of mortgage lending of this program are that the military man who enters into the first contract has the right to a certain type of deduction. Every year, on average, about 250 thousand rubles are credited to a serviceman’s account. He can use this amount after the expiration of the old contract and when signing a new one. The amount that has accumulated over several years goes as a down payment.

The rest of the loan is paid by the state while the soldier serves under contract in the army. As soon as he ceases to be a military man, the government stops paying, and the rest of the loan must be paid independently.

Project “Affordable and comfortable housing for citizens of the Russian Federation”

The goal of this project is to increase the availability of mortgages for Russian residents. Everyone knows that for many people, almost the only chance to purchase a home is a mortgage. Young families are no exception. They are mostly denied a mortgage loan.

Project participants have no problems with this. In addition, the mortgage interest rate is reduced. This project was developed within the framework of a social type of mortgage lending. Its main difference from commercial is the special (preferential) cost per square meter. As part of a social mortgage, the bank undertakes to insure the borrower and the living space itself, and also maintain a certain rate until the end of the loan.

Development is possible thanks to such types and programs that are aimed at improving housing conditions, both for young families and for socially vulnerable segments of the population.

Advantages and disadvantages of a mortgage

Types of mortgage lending, regardless of each other, have their pros and cons. This is typical not only for mortgages, but also for any loans. So, the advantages:

• For a large number of people, a mortgage is the only chance to purchase their own home;
• mortgages are issued for a long period, and people have the opportunity to pay small amounts;
• You can register your relatives in the apartment, and also make repairs to your taste, in general, give money for potentially your own home.

The disadvantages include:

• formally, an apartment taken on a mortgage belongs to the bank, and a person cannot sell or donate it;
• during the loan, a person pays the cost of 2 or even 3 such apartments, since the term is too long;
• if a person stops paying, the bank takes the apartment and puts it up for sale to cover its expenses, the rest of the amount is returned.

Most people at one stage or another in their lives wonder whether to take out an apartment on credit. in Russia has many shortcomings, but still in modern world This is one of the few chances to buy your own living space. The main thing is stable work, which will help you gain the trust of the bank, as well as improve loan conditions. The state has recently created many programs that are designed to facilitate payments and help people purchase housing.

As a result of studying this chapter, the student should: know

• essence and types mortgage loans;
• list of normative and legal acts regulating mortgage lending;
• mortgage lending models;
• mortgage lending scheme and participants;
• methods of amortization of mortgage loans;
• concepts of “mortgage debt ratio”, “mortgage constant”; be able to
• distinguish a mortgage loan from other types of loans;
• identify different types of mortgages;
• describe the main types of mortgage loans;
• determine the mortgage debt ratio, mortgage constant; own
• skills in calculating a standard annuity payment;
• information on the state of mortgage lending in the Russian Federation;
• special terminology and vocabulary of this topic.

Essence and types of mortgage loans

One of the forms of lending actively used economic entities currently, is a mortgage loan. Mortgage - This is a credit or loan provided for a period of three years or more by a bank (credit organization) or a legal entity (non-credit organization) to a legal entity or individual for the acquisition of real estate secured by the acquired property as security for an obligation. A mortgage loan is issued on the terms of payment, urgency and repayment, as well as with strict control over the use credit funds. The exclusive property of a mortgage and the best guarantee of securing a loan is the right of the lender to dispose of the borrower’s real estate at its discretion in the event of his failure to fulfill his obligations to repay the loans.

Term mortgage first appeared in Ancient Greece at the beginning of the 6th century. BC. (it was introduced by Archon Solon) and was associated with ensuring the liability of the debtor to the creditor with certain land holdings. To do this, obligations were drawn up, and on the border of the land territory owned by the borrower, a pole was placed with an inscription stating that the specified property serves as security for the creditor's claim in the named amount. On such a pillar, called “mortgage” (from the Greek. hypotheka - stand, support), all debts of the land owner were noted.

Later, special books called mortgage books began to be used for this purpose. Already in Ancient Greece, publicity was ensured, allowing every interested party to easily verify the state of this land ownership. The institution of mortgage received new development in the Roman Empire. In the 1st century AD Mortgage institutions were created that issued loans to individuals secured by property.

In our country, the concept of “mortgage” first appeared in Russian legislation in the Law of the Russian Federation of May 29, 1992 No. 2872-1 “On Pledge”. In Art. 42 of this Law provides the following definition of mortgage: “A mortgage is the security of an enterprise, buildings, building, building or other object, directly connected to the earth, together with the corresponding land plot or the right to use it.”

The next step in the development of legislation on mortgage lending was the adoption of the Civil Code of the Russian Federation, which came into force on January 1, 1995. The code established general rules securing loans with real estate collateral, provisions on ownership and other proprietary rights to residential premises, grounds for foreclosure on mortgaged residential property.

Subsequently, a special law was adopted regulating mortgage lending - Federal Law of July 16, 1998 No. 102-FZ “On Mortgage (Pledge of Real Estate)” (hereinafter referred to as the Mortgage Law). It defines mortgage agreement as an agreement under which the mortgagee, who is a creditor under an obligation secured by a mortgage, has the right to receive satisfaction of his monetary claims against the debtor under this obligation from the value of the pledged real estate of the other party - the mortgagor, preferentially before other creditors of the mortgagor, with exceptions established by federal law (p. 1 article 1).

The most important event in the development of the mortgage market in the Russian Federation was the Decree of the Government of the Russian Federation dated January 11, 2000 No. 28 “On measures to develop the housing mortgage lending system in the Russian Federation,” which approved the Concept for the development of the housing mortgage lending system in the Russian Federation. It defined the state strategy in the formation and development of the mortgage lending sector and described in detail the formation of the system and the organizational and economic mechanism for attracting credit resources to this area.

An attempt by the state to improve the living conditions of its citizens was the Federal Program “Housing”, approved by Decree of the Government of the Russian Federation of September 17, 2001 No. 675 “On the Federal Target Program “Housing” for 2002-2010.”

Based on the results of the first stage of implementation of the Federal Target Program “Housing”, taking into account the entry into force of a package of federal laws on the formation of an affordable housing market in connection with the implementation of the national project “Affordable and comfortable housing for Russian citizens” and the creation of the National Council on Housing Policy in the specified Federal Target program by Decree of the Government of the Russian Federation dated December 31, 2005 No. 865 “On additional measures for the implementation of the federal target program“Housing” for 2002-2010”, appropriate changes were made, which led to the modernization of the subprograms of the Federal Target Program “Housing”.

The second stage of implementation of the Federal Target Program “Housing” was carried out in 2006-2010. and provided for the continuation of the ongoing reforms in the housing sector and the implementation of a set of measures within the framework of the priority national project “Affordable and comfortable housing for Russian citizens.” This stage of implementation of the Federal Target Program “Housing” is aimed at implementing the subprograms “Providing land plots with communal infrastructure for the purpose of housing construction"; “Modernization of municipal infrastructure facilities”; “Providing housing for young families”; "Performance government obligations to provide housing for categories of citizens established by federal legislation.” These subprograms are measures aimed at implementing the main priority areas of the national project and are designed to solve one of the main tasks - to stabilize the balance of supply and demand in the housing market.

The implementation period of the Federal Target Program “Housing” and its subprograms has been extended for the period 2011-2015. At the same time, along with previously existing subprograms and activities federal program New areas of housing provision have been added.

The next step in the development of the mortgage lending system was the adoption in 2003. Federal Law dated November 11, 2003 No. 152-FZ “On Mortgage Securities” (hereinafter referred to as the Law on Mortgage Securities). The presence of this Law is necessary for the normal development and functioning of two-tier system mortgage lending.

A significant fact that influenced the development of the housing mortgage lending market is the Concept for the development of a unified system for refinancing housing mortgage loans in Russia, approved by the Government of the Russian Federation on June 30, 2005.

Thus, in our country, the procedure for mortgage lending is regulated by the Law on Mortgage, Part Two of the Civil Code of the Russian Federation and other legislative acts.

Mortgage- This is a form of providing a loan and collateral for real estate. The mortgage lending system includes two areas:

• 1) direct provision of mortgage loans to business entities and the population;
• 2) sale of mortgage loans on the secondary market (mortgage obligations).

In the first case, a mortgage loan is issued mortgage banks to cover large capital expenditures, new construction, acquisition of real estate. The second direction is carried out by financial companies and funds that buy up the assets of mortgage banks, secured by a pledge of property, and then, on their own behalf, issue securities (bonds, certificates of participation) on their basis to ensure additional attraction of resources for lending.

Credit relations are built on the principles of: targeted use, security, urgency, payment, repayment. The intended use of the loan is confirmed by documents provided by the borrower. The main types of loan security are: surety, guarantee, pledge, insurance of the borrower's liability for non-repayment of the loan. The collateral for a mortgage loan is the borrower's pledge of real estate and property rights, which serve as a guarantee for the lender of the debtor's full and timely repayment of the loan received and payment of the interest due. Confirmation of repayment is the provision by the borrower of documents on his solvency.

A mortgage loan does the following: functions".

• the function of a financial mechanism for attracting investment in the sphere of material production;
• function of ensuring the repayment of borrowed funds;
• the function of stimulating the turnover and redistribution of real estate when other methods (purchase and sale, etc.) are economically infeasible or legally impossible;
• the function of forming multi-level fictitious capital in the form of mortgages, derivative mortgage securities, etc.

Thus, from an economic point of view mortgage - This is a market instrument for the turnover of property rights to real estate, allowing to attract additional financial resources for the implementation of any projects, and from a legal point of view, a mortgage consists of encumbering the property rights of ownership of real estate objects when they are pledged.

Currently, many types of mortgage loans have been developed in the world, differing depending on the issuance, repayment and servicing schemes (Table 4.1).

Types of mortgage loans

Classification feature	Types of loan
	Not movable property	Land; enterprises, as well as buildings, structures, etc.; residential buildings, apartments and their parts; aircraft, sea vessels, inland navigation vessels and spacecraft
	Unfinished real estate construction	Building; structures
Type of creditor	By status	Bank; non-banking
	But accessories	State; private; public
	By degree of specialization	Universal; specialized
Type of borrower	Subject of lending	Loans provided to developers; loans provided directly to the future owner
	Degree of affiliation of borrowers	Loans provided: bank employees; employees of companies that are clients of the bike; clients of real estate companies; persons living in this region; for everyone
Debt amortization method	Permanent mortgage loan
	Loan with variable payments	Loans with balloon payment; spring loans; participation loans (mortgage loans that include a financial interest of the lender); loans with increasing payments; reverse annuity loans; variable rate loans; Canadian rollover; final mortgage; loans with added interest
Method of providing a loan	European model; American model

Classification feature	Types of loan
Opportunity early repayment	With the right early repayment; without the right of early repayment; with the right of early repayment subject to payment of a fine
Type of interest rate	Loan with a fixed interest rate; variable rate loan
Refinancing method	Issue of mortgage bonds; preliminary savings of borrowers, government subsidies; own, attracted and borrowed funds(including loans from international organizations); sale of mortgages to a mortgage agency or a large mortgage bank
Purpose of lending	Housing lending	Purchase of finished housing in an apartment building; construction, reconstruction, major renovation; construction and acquisition of finished housing for investment purposes
	Land development
	Agricultural development
	Production development
	Loans secured by existing real estate for various needs of the borrower
Duration and purpose of applying for a loan	Short term loan(current need for funds); long-term loan (financing capital construction, reconstruction, development of land)

Subject of mortgage may be the following property (Article 5 of the Mortgage Law).

• 1. Real estate specified in paragraph 1 of Art. 130 of the Civil Code of the Russian Federation, the rights to which are registered in the manner established for state registration rights to real estate and transactions with it, including:
  • land;
  • enterprises, as well as buildings, structures and other real estate used in business activities;
  • residential buildings, apartments and parts residential buildings and apartments consisting of one or more isolated rooms;
  • dachas, garden houses, garages and other consumer buildings;
  • air and sea vessels, inland navigation vessels and space objects.
• 2. Unfinished construction of real estate erected on a land plot allocated for construction in the manner prescribed by law, including buildings and structures.

A pledge of land plots, enterprises, structures, apartments and other real estate can arise only insofar as their circulation is permitted by federal laws.

Part of the property, the division of which is impossible without changing its purpose (indivisible thing), cannot be an independent subject of mortgage. Mortgage is not allowed in relation to:

• part of a land plot, which, taking into account its size, cannot be used as an independent plot in compliance with the purpose of land of the corresponding category;
• living rooms that form part of the house or apartment of the owner of this house or apartment;
• an enterprise in respect of which bankruptcy proceedings have been initiated or a decision on liquidation or reorganization has been made.

A mortgage is established on property that belongs to the mortgagor on the basis of ownership or economic management. The property on which the mortgage is established remains with the mortgagor in his possession and use.

For property that is in common joint ownership (without determining the share of each owner in the right of ownership), a mortgage can be established with the consent of all owners. Consent must be given in writing.

The subject of the mortgage is determined in the agreement indicating its name, location and description sufficient to identify this subject.

According to Art. 43 of the Law on Mortgage, property pledged under a mortgage agreement to secure the performance of one obligation (previous mortgage) may be pledged to secure the performance of another obligation of the same or another debtor to the same or another mortgagee (subsequent mortgage). The priority of mortgage holders is established based on the data of the Unified state register rights to real estate and transactions with it on the moment of emergence of a mortgage.

A subsequent mortgage is permitted if it is not prohibited by previous mortgage agreements on the same property, which have not terminated by the time the subsequent mortgage agreement is concluded. If a previous mortgage agreement provides for the conditions under which a subsequent mortgage agreement may be concluded, the latter must be concluded in compliance with these conditions.

Individuals and individuals can act as lenders and borrowers in mortgage lending. legal entities and commercial banks.

By type of borrowers As lending entities, mortgage loans are divided into:

• loans provided to developers and builders;
• loans provided directly to the future owner of the property;
• according to the degree of affiliation of borrowers.

Participants mortgage lending: banks (check the borrower's solvency) and non-bank organizations; Insurance companies(obliges to insure risks arising in the process of mortgage lending); appraisal companies (assess the market value of the apartment).

Depending on the method of depreciation, the following are distinguished: types of loans.

Permanent mortgage loan- the simplest form of credit. This loan characterized by a fixed loan term and a fixed interest rate. It is typical for countries with low inflation, long loan terms and involves equal repayment payments (amortization) at regular intervals (for example, once a month). Therefore, such loans are classified as self-amortizing.

The standard annuity payment is calculated using the formula

where P is the size of the monthly annuity payment; K - loan amount; i- interest rate for the period (month, year); P- number of payment periods (months, years).

Determine the size of the annuity payment. Interest rate - 20% per annum. Loan size - 1 million rubles. The loan term is 5 years. Payments are made once a year.

Solution.

Let's use formula (4.1):

Loans with variable payments are not self-amortizing and provide for different periods of repayment of principal and interest, as well as other additional conditions. Such loans include loans with balloon payment, involving a one-time final (balloon) payment or with a breakdown of a one-time payment. They are divided:

• interest-only loans are a type of loan with balloon payment, which provides for balloon payment of the principal amount at the end of the term, and payment of interest regularly throughout the entire loan term. Such a loan is also called a deferred mortgage;
• loans with freezing interest payments until the expiration of the loan, which do not provide for any payments, both in repayment of the principal debt and interest. Repayment of the loan and capitalized interest on it is made at the end of the loan term. The use of such loans is quite expensive and therefore limited. They are resorted to mainly by land speculators who expect to sell a plot of land at the end of the term for an amount that allows them to pay off the loan, interest and make a profit from the sale;
• loans with partial amortization and a final balloon payment require partial periodic payments of both principal and interest, as well as a one-time payment of the remaining debt;
• loans with gradual payment of only the principal debt involve payments of the principal amount and a one-time payment, including the debt to pay interest.

Spring loans involve regular payments to repay the principal debt. For example, the first four years are interest-only, and the next three years are interest and principal payments.

Loans with participation used when financing income-producing real estate. This loan is close to a self-amortizing loan, but assumes that the lender, regularly receiving the principal and interest on it, also participates in the income from the property. The lender's participation may vary: he may claim part of the excess rent, part of the excess net operating income (income-sharing loan), part of the capital gain or proceeds received from the sale of real estate (cost-sharing loan), etc. .

Loans with increasing payments(growing annuity) provide equal payments throughout the entire term and are used by owners of rental properties in the expectation that payments will increase annually or at other intervals. Such loans are used for lending to young families who have less income at the beginning of the loan period than at the end.

Loans with reverse annuity, on the contrary, they imply a reduction in payments to the loan at the end of the term or their termination. In this sense, they are comparable to frozen loans. These loans are used to finance older landlords.

Loans with variable rates, usually “tied” to one of the money market indices, inflation, currency, etc., they allow you to pay a loan at a variable rate with restrictions on its minimum and maximum value. Changes in rates affect loan terms.

Canadian rollover characterized by variable interest rates at predetermined intervals (for example, every five years). A variation of this type of loan is a loan with a negotiated rate, which differs in that, in addition to the frequency of payments, maximum interest rates are agreed upon in advance.

Final Mortgages have several varieties and are themselves a special case of secondary (junior) financing. The essence of this type of lending is that a second loan is provided for already accredited real estate, payments on which are sent to repay the first loan. The rates on such loans are usually higher than on a first loan.

Loans with added interest rate provide for the attribution of interest to the principal debt, and the result is divided by the number of repayment periods to determine the amount of the next payment.

Depending on the method of providing credit in the history of the development of mortgages, there are two main models of the mortgage lending market: European and American.

European model - This is a one-level model of mortgage lending, the essence of which is that the bank, having issued a loan, independently refinances it by issuing its own securities (mortgages, long-term mortgage-backed bonds) of a standard structure with payment of the principal amount at the end of the payment period (Fig. 4.1). The issue and circulation of such securities are regulated by special legislation. Loans included in the mortgage coverage remain on the balance sheet of the issuing bank. The activities of issuers of mortgage notes, as a rule, are legally limited to the issuance of mortgage loans and other operations characterized by a low degree of risk. No other issuer other than those listed in the law may issue securities called “mortgage notes.” The activities of mortgage banks are strictly controlled by the state and banking supervisory authorities.

Rice. 4.1.

1 - savings deposit; 2 - the borrower obtains a mortgage loan; 3 - payment for housing under sales and purchase agreements or construction contracts (equity and borrowed capital); 4 - return of the mortgage loan and interest on it; 5 - insurance of mortgaged housing; 6 - income from the sale of securities (mortgages); 7 - income but securities(mortgages) and their repayment

When implementing this model, the following main types of contracts are envisaged:

• between the borrower and the lender - an agreement on a savings housing deposit, and then - a loan agreement and a mortgage agreement;
• between the borrower and the insurance company - a mortgage insurance agreement;
• between the borrower and the seller (builder) - a housing purchase and sale agreement.

This model of mortgage lending has been operating for a long time in a number of Western European countries - Denmark, Germany, France, and more recently - in Poland, the Czech Republic, Slovakia, and Hungary.

The most striking example of the application of this scheme is German model. It is based on the savings and loan operating principle, like the German “private construction savings banks” - Bausparkasse, French Livret Epargne Logement, American Savings & Loans. The construction savings bank is a closed financial structure and begins its activities with the formation of authorized capital and based on it has its own source of funds (including housing stock) for issuing loans. All available cash funds (own and borrowed) are used only for the implementation of statutory activities, i.e. to finance housing construction and issue mortgage loans for the purchase of already built apartments. The investor gets the opportunity to accumulate the required contribution for the purchase of an apartment (for example, in the amount of 50% of its cost) over a long period, and then receive a mortgage loan for the purchase (construction) of a pre-selected apartment. In the German version, the role of a loan is not cash, but the housing itself - finished or unfinished (the so-called construction mortgage).

The disadvantages of the German model are: a limited selection of residential premises that are built by the construction savings bank and can be offered by the participant); fixed price, which is determined by the cash desk itself; limited lending terms of three to five years; the impossibility of selling the apartment by the borrower until the debt is settled.

Another mortgage lending model is American two-level model, which is common in countries of the Anglo-Saxon legal system. Its essence is that the bank, having issued a loan, refinances it by attracting long-term resources, by assigning claims on already issued mortgage loans to another financial institution (secondary market operator, specially created agencies).

In its turn financial institutions(secondary market operators, specially created agencies) can deal with received mortgage loans as follows:

• 1) assign them to secondary investors;
• 2) form pools from uniform mortgage loans and sell such indivisible pools of mortgages or participation rights (shares) in such pools to secondary investors;
• 3) issue and place mortgage-backed securities (these may be mortgage-backed bonds or mortgage participation certificates).

This system is very common in the USA. A simplified diagram of the American model of a two-level structure is shown in Fig. 4.2. Banks then assign the issued mortgage loans to specialized mortgage agencies. By purchasing loans from banks nominal value, mortgage agencies combine them into pools and issue their own debt obligations secured by them. Borrowers deposit money with banks as payment for the loan received, and the banks transfer these funds, withholding commissions, to the mortgage agent, who pays income from them to the owners of mortgage-backed securities.

Rice. 4.2.

• 1 - loan agreement; 2 - mortgage agreement; 3 - insurance contract for mortgaged housing; 4 - purchase and sale agreement or contract;
• 5 - general agreement between the lender and the mortgage agency; b - agency agreement;
• 7 - assignment agreement; 8 - agreement on the procedure for carrying out transactions with valuable

mortgage agency papers; 9 - business risk insurance contract; 10 - contracts for the purchase and sale of securities

When implementing a two-tier mortgage lending model, the following conclusion is provided:

• loan agreement and a mortgage agreement between the borrower and the lender;
• agreement for the purchase and sale of housing between the borrower and the seller (builder);
• mortgage insurance agreement between the borrower and the insurance company;
• business risk insurance agreement between the insurance company and the mortgage agency;
• agreement on the assignment of the right to claim under mortgage loans between the lender and the mortgage agency;
• agreement trust management acquired rights of claim.

The choice of a two-level model is explained not only by state interests, but also by the peculiarities of the concept of property rights in the Anglo-Saxon legal system, which presupposes its splitting. It is possible to establish several titles of ownership for the same property and divide the content of ownership between different persons. The object of property rights in the Anglo-American countries legal system may be the right itself.

The concept of mortgage mongage) V civil law The US (and English civil law) does not completely coincide with the concept of mortgage in the civil law of continental European countries. In particular, the subject of a mortgage can be both real and movable property. But the main thing is that with a mortgage, ownership of the mortgaged property passes to the mortgagee. This is a fiduciary pledge in which the pledgee becomes the owner of the pledged property 1 .

The complexity of the mechanism of the two-level model of the secondary mortgage lending market predetermines an increase in the costs of its maintenance. This in turn entails an increase in the cost of credit funds for the borrower. Another drawback is the inability to clearly and effectively regulate the mortgage market, built on the Anglo-American model, within the framework of the continental system of morality.

At this stage Russian legislation on mortgage-backed securities, taking into account the changes adopted as part of the reform to create an affordable housing market, allows credit institutions to resort to all the above-described methods of developing mortgages, both through attracting resources from banks and through the use financial instruments secondary market operators.

Depending on availability early repayment There are loans with the right of early repayment and without the right of early repayment. According to Art. 45 of the Law on Mortgage, the mortgagor has the right at any time to fulfill the obligation secured by the mortgage in full at any time, if the mortgage agreement excludes the possibility of subsequent pledge of the same subject of mortgage.

Depending on the type of interest rate The loan comes with a fixed interest rate and a variable interest rate. In the Russian Federation, the interest rate on a mortgage loan can be either fixed or variable. For example, mortgage bank CJSC KB DeltaCredit launched credit product in rubles with a floating interest rate linked to the indicative rate MosPrime Rate.

For borrowers who are able to officially confirm their income, DeltaCredit Bank sets a rate of 5.5% + three months MosPrime Rate, for borrowers with “gray” income - 6.5% + three months MosPrime Rate. The rate is recalculated quarterly.

By refinancing method - Mortgage lending is provided by various credit institutions. The peculiarities of their activities lie in the method of refinancing issued loans (Table 4.2).

Table 4.2

Methods for refinancing mortgage loans

By degree of security loans are divided depending on the size of the down payment, the amount of which can range from 0 to 100% of the value of the pledged property. Mortgage loans may be secured by first or subsequent mortgages (junior, senior mortgages).

Depending on the number of creditors, participating in the issuance of a loan, mortgage loans are: conventional and combined. Conventional loans are issued by a single lender, while combination loans are issued by several lenders.

Depending on the loan conditions distinguished: subsidized loan and loan issued for general conditions. A subsidized loan is issued to individuals and legal entities - groups of beneficiaries included in government programs. Funding is provided by both the state and credit organizations. Thus, in 2011, Sberbank of Russia implemented the following programs: “Mortgage with state support", "Mortgage plus maternal capital», « Military mortgage" and etc.; The Agency for Housing Mortgage Lending (AHML) opened the “Mortgage for Young Scientists” program; Globex Bank actively issued loans under the mortgage program for military personnel. However, such programs are accessible to a limited number of people.

In addition, mortgage loans can be issued in the form of credit lines and on a one-time basis.

The advantages of a mortgage loan are:

• the opportunity to become a homeowner in a fairly short time and move into a new apartment;
• obtaining a loan for a long term, for which the amount of monthly payments will not change if the cost of the apartment increases;
• the ability to pay for your own apartment rather than rent someone else’s property, while the interest on the loan is comparable to the monthly rent for a similar apartment;
• the opportunity for the borrower and his family members to register in an apartment purchased with a mortgage loan;
• profitable investment funds (real estate prices are growing steadily);
• receiving tax benefit for the entire term of the mortgage from an amount within 2 million rubles, as well as from the amount paid on interest for the period of loan repayment (subclause 2, clause 1, article 220 of the Tax Code of the Russian Federation).
An indicator of the Russian money market, which is the average rate for providing ruble loans (deposits) in the Moscow money market and calculated by the National Monetary Association.
• Razumova I. A. Mortgage lending. 2nd ed. St. Petersburg: Peter, 2009. P. 14.

If the family does not have enough own funds to buy a home, the best option to acquire it they become bank loans. Long-term lending for favorable conditions allows Russians to become owners of residential real estate, without changing their usual quality of life. Banking and government programs provide for various types of mortgages, so representatives of any category of citizens can choose the most suitable options for themselves.

Mortgage lending in Russia is developing and transforming from year to year. The available mortgage options can be classified according to the following criteria:

1. Pledge. A mortgage, as a way to secure obligations, requires the presence of collateral. The collateral for the loan can be the borrower's property or purchased real estate. In case of default on debt obligations, the creditor has the right to sell the property to pay off the debt.
2. Object of lending. The applicant can purchase a country house, an apartment in a new building or an apartment building under construction, on the secondary real estate market, or build it themselves. Depending on the liquidity of the selected property, as well as existing risks, banks formulate lending conditions.
3. Directionality. The loan can be social or commercial in nature. In the first option, the state directly or indirectly participates in lending, providing borrowers with preferential lending conditions.
4. Payment type. The annuity system divides the entire mortgage amount (principal + interest) into equal payments over the loan term, while the differentiated system allows you to gradually reduce the payment.
5. Target. A target mortgage implies a specific goal – the acquisition of a specific property. A non-targeted mortgage allows the use of funds at the discretion of the borrower.

Standard home loan programs

Mortgage loans come in different types, but the most popular are standard programs, which differ only in the choice of the object of the contract.

For secondary real estate

The secondary housing market provides a huge selection of real estate for purchase. Banks willingly approve the choice of borrowers, and a loan for such housing has the following parameters:

• optimal interest rate per annum;
• minimum down payment amount;
• loyalty to applicants;
• quick check and registration;
• insurance of title and collateral immediately.

Presented in the table below:

Bank	Base rate, %	PV, %	Experience, months	Age, years
Sberbank	9,2	15	6	21-75
VTB	9,8	15	3	21-65
Raiffeisenbank	8,99	15	3	21-65
Gazprombank	9.2	20	6	21-60
Rosbank	10.74	15	2	20-65
Rosselkhozbank	9.1	15	6	21-65
Absalut Bank	10.75	15	3	21-65
Promsvyazbank	9.8	20	4	21-65
Dom.RF	9.4	15	3	21-65
Uralsib	9.49	10	3	18-65
AK Bars	9.2	10	3	18-70
Transcapitalbank	9.49	20	3	21-75
FC Otkritie	9.2	15	3	18-65
Svyaz-bank	9.3	15	4	21-65
Zapsibcombank	9.8	10	6	21-65
Metallinvestbank	9	10	4	18-65
Bank Zenit	9,5	15	4	21-65
SMP Bank	9,5	15	6	21-65
UniCredit Bank	9,4	20	6	21-65
Alfa Bank	9,19	15	6	20-64

For a new building

Programs for the purchase of housing under construction are the most financially beneficial for borrowers. Such real estate becomes expensive only after entering apartment building into operation, and at the construction stage the cost is quite affordable.

For banks, new buildings represent a risky investment of capital, this is reflected in the terms of the mortgage, so each developer undergoes preliminary accreditation of his property with the bank.

Presented below:

Bank	Bid, %	PV, %	Experience, years	Age, years
Sberbank	9,3	15	6	21-75
VTB	9,8	15	3	21-65
Raiffeisenbank	8,99	15	3	21-65
Gazprombank	9,2	20	6	21-65
Rosbank	10,74	15	2	20-65
Rosselkhozbank	9	20	6	21-65
Absalut Bank	10,75	15	3	21-65
Promsvyazbank	9,15	15	4	21-65
DOM.RF	8,9	15	3	21-65
Uralsib	9,49	10	3	18-65
AK Bars	9,2	10	3	18-70
Transcapitalbank	9,49	20	3	21-75
FC Otkritie	8,8	15	3	18-65
Svyaz-bank	9,2	15	4	21-65
Zapsibcombank	9,8	15	6	21-65
Metallinvestbank	9,1	10	4	18-65
Bank Zenit	9,5	20	4	21-65
SMP Bank	10,99	15	6	21-65
Alfa Bank	9,29	15	6	20-64
UniCredit Bank	9,4	20	6	21-65

Secured by your own home

If the borrower is the owner of liquid real estate, he can register it as collateral for a mortgage loan. Such programs are rarely used, since mortgages are used mainly by citizens who do not have their own housing, but thanks to them you can purchase non-standard housing (apartments, apartments in building cooperatives, a country house, etc.), as well as simply take money for personal needs .

Most often it provides:

• no down payment;
• the loan amount does not exceed 70-80% of the value of the collateral property.

For house and land

Despite the fact that a mortgage involves the allocation of funds for the purchase of housing, alternative banking transactions are possible when money is provided for the construction of a private house. In such a situation, the collateral is a plot of land, housing under construction, as well as other outbuildings located in the household.

The conditions for a construction loan are standard, but there are increased requirements for land:

• location near a populated area;
• permitted use - for construction;
• The size of the plot complies with the requirements of SNiP for urban development.

Types of social programs

In addition to standard lending programs that determine the target direction of the loan, mortgages can be social. This term implies the use of state capital in obtaining loans for preferential categories of citizens.

Social mortgage in the regions

Some regions of the country establish additional social programs allowing residents to improve existing living conditions. Among the main requirements for applicants are:

• residence in the region for at least a specified period (3-5 years);
• the need for housing or a significant change in the existing one;
• belonging to a preferential category or employment in the public sector;
• having a permanent place of work.

To take advantage of targeted opportunities aimed at improving the lives of citizens, it is enough to contact the Housing and Communal Services Department or the local administration.

With maternal capital

Families that have a second child are entitled to family capital. In 2020, its nominal value is 466,617 rubles, and this amount can be used by borrowers:

• as a down payment;
• to pay off part of the mortgage debt.

An important condition is that it can be used immediately, without waiting for the child to be three years old.

Important! Real estate purchased with participation family capital must be issued in equal shares to all family members, including minor children.

Mortgage programs “Young Family” in banks

Credit organizations participating in the “Young Family” state program do not set restrictions when choosing a property. The main requirements are imposed on the borrowers themselves:

• age not older than 35 years;
• presence of a registered marriage or children;
• income level sufficient to make monthly payments (1-4 co-borrowers are allowed).

The family is issued a housing certificate (35% of the cost of purchased housing for couples with children, 30% for childless people), which can be used when applying for a mortgage as a down payment or for partial repayment of debt. The simultaneous use of a certificate and maternal capital is acceptable.

It also exists in Sberbank and Rosselkhozbank, which allows you to purchase housing on more favorable terms than from standard borrowers.

Children's (family) mortgage at 6% with state support for new buildings

A new direction in Russia's demographic policy is the so-called child mortgage. This program applies to families who will give birth to or adopt a second child between January 1, 2018 and December 31, 2022. Lending provides for the following conditions:

• the mortgage is issued in cash or to a bank account;
• You can only purchase housing in a new building;
• Citizens of the Russian Federation participate in the program;
• A rate of 6% per annum is provided for 3 years at the birth of 2 children, for 5 years - for a third child, for 8 years - if a second and third child is born between 2018 and 2022, then the interest is set at the standard rate.

Wooden mortgage

A special mortgage that provides for the purchase of inexpensive, eco-friendly wooden houses. You can become a participant in the program until November 30, 2018. The main conditions of the program are:

• reduction of the current loan rate by 5%;
• availability of land in ownership;
• the loan amount does not exceed 3,500,000 rubles;
• The loan is issued without real estate collateral.

We reviewed it earlier.

Military

A savings mortgage has been created for military personnel, allowing them to purchase their own housing within 3 years after the start of their service. In general, the program boils down to the following:

• Every year a certain amount is transferred to the personal account of a serviceman from state funds (268,465.6 rubles are planned for 2018-2020);
• You can use the funds 3 years after joining the NIS;
• when applying for a loan from a bank, the accumulated funds can act as a down payment;
• the loan is repaid at the expense of the state until the serviceman leaves the ranks of the RF Armed Forces.

You can find out from the next post.

Various types of non-standard programs

In addition to the usual banking programs for providing funds for the purchase of housing, there are non-standard ones. For example, a non-target mortgage allows the borrower to independently determine the object of lending. Corporate mortgages are provided on preferential terms to employees of companies and organizations who have worked for them for at least a specified period. Let's consider existing non-standard forms of mortgage programs.

No down payment

A mortgage without a down payment is possible on the security of existing property or when taking out another loan used as a down payment. The subsequent mortgage will be issued on less favorable terms, as it is associated with additional risk for banks.

With bad credit history

If the borrower has “black” spots on his credit history, this does not mean that he will not take out a loan to purchase real estate. It’s just that the lending conditions will be more stringent:

• down payment of at least 30%;
• increased interest rate;
• attracting a guarantor;
• registration of collateral for the purchased property.

You can find out on our website.

For foreigners

Foreign citizens can use the services of Russian banks only if they are officially tax residents of the Russian Federation, that is, they have been officially employed in Russia for at least six months. In addition, a positive decision by the bank guarantees additional options:

• resident card;
• Russian spouse;
• property on the territory of the Russian Federation.

But there are also options. is also possible for persons without Russian citizenship. We wrote about this in more detail in the previous post.

Civil lending is provided to foreigners on the same terms as a standard mortgage for Russians. At the same time, the interest rate in a number of banks increases slightly.

If a foreigner belongs to the category of migrants, he can apply for a preferential mortgage under the state program.

Without proof of income and official employment using two documents

Those who work informally can also take out a loan for housing. To do this, you will need to provide two documents: passport + additional (SNILS, Taxpayer Identification Number, international passport, driver’s license, military ID). Since the transaction seems risky for the bank, maximum collateral for the loan will be required:

• large down payment;
• attracting a guarantor or co-borrowers;
• registration of purchased real estate as collateral;
• borrower insurance.

Discussed in a separate post.

For garage and parking space

Such programs are a real rarity. This is due to the fact that it is difficult for banks to determine the liquidity of the acquired property.

If the organization is still willing to provide money for a garage or parking space, it will need:

• the presence of an apartment in the building to which the parking belongs;
• down payment (from 30%);
• documents confirming that the garage is an independent piece of real estate, is not in disrepair, and is not subject to demolition.

For repairs

Additional lending for those who have recently purchased housing. Provided as security for the property being renovated. The loan amount is 50-70% of the appraised value of the property. Loan term – up to 25 years, interest rates – from 13% per annum.

Discussed in more detail in a separate post.

For individual entrepreneurs, business owners and commercial real estate

Entrepreneurs and legal entities can purchase on credit for business needs commercial real estate: warehouse, retail, industrial, office premises.

Bank standards for such loans are as follows:

• high interest rates;
• loan term no more than 10 years;
• provision of a large package of documents;
• capital value of the acquired building.

And business owners purchasing housing also has a number of features that we talked about earlier.

For pensioners

Has an age limit. The borrower should not be older than 75-85 years at the end of the loan payment. Since these borrowers have increased risks of non-repayment, a limited number of banks issue mortgages to them. We wrote about this in more detail earlier.

These are all the main types of mortgage loans that are found in Russia. If you have any questions about this topic, please leave them in the comments.

We remind you that the site employs a mortgage lawyer who will help you with applying for a loan and provide free advice.

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