In the current economic situation, many banks are trying to minimize their risks. Therefore, mortgage lending programs require a down payment. This is the amount that the client contributes under the loan agreement in favor of the purchased property. Accordingly, the loan amount becomes smaller. Most mortgage offers from banks include a down payment of 15%.

Therefore, when looking for an apartment, it is advisable to initially have a certain amount of cash in order to satisfy the requirements of banks. Also, the amount of the down payment significantly affects the interest rate. In other words, the more you pay initially, the less overpayment you will have on the loan.

How much money do you need for a down payment?

Each bank has its own different programs, for which the percentage of the first deposit of money is different. Most banks require the client to make about 15-20% as a down payment. Let's take an example of the offers of top banks for 2016 to have an idea of ​​what kind of down payment you need to save.

Sberbank

Depending on how much the client initially contributes and for how long the loan agreement is drawn up, Sberbank builds its mortgage offers on the market of finished housing and new buildings. The minimum threshold for the initial payment is 20%. If, for example, you decide to purchase real estate, and independent appraisers set a price equal to 3,500,000 million rubles, then you will need 700,000 rubles as an initial payment to obtain a mortgage from Sberbank.

The amount for which the bank will approve a loan will depend on what down payment you have. If you have funds that amount to 20 to 30% of the cost of the apartment on the secondary housing market, and you take out a loan for up to 10 years, then the interest rate will be 13% per annum. By contributing between 30% and 50%, the interest rate will drop to 12.75% per year. And if you pay more than 50% of the mortgage with a down payment, then the annual overpayment percentage will be 12.5%.

It is also necessary to take into account not only what down payment you can save, but also the term of the loan agreement itself. For example, if you make 30% as an initial payment, but sign up for a contract not for 10 years, but for 30, the interest rate also increases from 13 to 13.5%.

VTB 24

VTB 24 offers its clients to apply for a mortgage with a down payment of 15%. Moreover, such pricing is not relevant for residents of all regions. For those who live in the Vladimir, Chelyabinsk, Kemerovo and Ivanovo regions, the down payment is 20%.

At the same time, how much money you have saved for the initial loan payment is not so important; the additional conditions of the bank will be more important. VTB 24, like many others, reduces the interest rate if you are a participant in a salary project or subscribe to a comprehensive insurance service, i.e., take out life and health insurance, title insurance and property insurance. Although only the last from the list provided is mandatory.

DeltaCredit

In order to obtain a mortgage from DeltaCredit Bank, you need to save 15% of the cost of the apartment. In this case, the interest rate will be 12.5%. DeltaCredit also offers a favorable mortgage offer for those who have 50% as a down payment. In this case, there is an option to draw up a loan agreement for the purchase of real estate on the new buildings market at only 11.5%. Despite the fact that the refinancing rate at which the Central Bank issues is 11%.

How to save for a down payment?

Many experts in the field of lending recommend putting aside about 40% of family income every month to form your initial amount of money. If a family earns 50,000 rubles a month, then it would be advisable to save 20,000 rubles monthly. In this way, it will be possible to form a down payment. And depending on how much the future apartment costs and what requirements the bank puts forward for the down payment, you can calculate how long it will take to save up the first payment.

For example, for an apartment worth 3,500,000 and an initial payment of 20%, which will be 700,000 rubles, saving 20,000 rubles each will require saving for 35 months or 2 years and 11 months. So, if there are no additional sources of income, in order to purchase a home with a mortgage, you will need to prepare in advance.

Ways to form a down payment

If the housing problem is very acute and there is no time to wait for the down payment to accumulate, then you can use other methods of forming the first payment. One of these options would be to apply for a non-targeted consumer loan. You can use funds provided by the bank at interest as the initial payment.

There are pros and cons here. The advantage, of course, is that you will save time, since saving money for a down payment on your own may not work out as quickly as you would like. But on the other hand, you will have two loan agreements drawn up at once. The first is a mortgage, which is formed for a long period, the second is a consumer one, at a fairly high interest rate. Accordingly, there is a possibility that there may simply not be enough finances, and overdue debts will appear.

Maternity capital as a down payment

Many banks, such as Sberbank, VTB 24, offer mortgages with the possibility of using maternity capital as a down payment. In order to take advantage of this opportunity, you will need to provide a certificate to the bank to receive maternity capital. And also contact the pension fund, where you can request a certificate stating that there are funds in the account.

The initial contribution is paid on the basis of an application for the transfer of money from an account opened with the Pension Fund of the Russian Federation to the account of the creditor bank for making the initial contribution. Thus, you can significantly reduce your monthly expenses to generate money for the initial payment to the bank.

Mortgage without down payment

If before the crisis there were enough such proposals, now there are practically none. Banks do not want to expose themselves to risk and provide a mortgage to a client who was unable to save a down payment on their own. There are only a few options when banks manage to cooperate directly with developers, which allows banking organizations to provide mortgages on such conditions.

Many people would like to live in their own apartment, but not everyone has the means to pay off the first payment. Is it possible to get a mortgage without a down payment? Now some banks provide the opportunity to buy your own home, with no down payment required. You just need to take into account other conditions that may be imposed on borrowers.

Why is a down payment required?

The down payment is the difference between the size of the mortgage loan and the price of the purchased home. But not everyone knows what affects the rate. The lower the payment, the greater the bank’s risk of non-repayment.

If the down payment amount is small, the interest rate will be higher. No credit institution will issue funds with high risks. Is it possible to get a mortgage without a down payment? There is such an opportunity, you just need to choose a bank with suitable conditions. It also depends on the client's provision. Every city provides mortgages without a down payment. St. Petersburg is no exception, since many credit institutions operate in the city.

Conditions

Each bank, according to its own rules, issues a mortgage without a down payment. The conditions may be similar. Usually it is mandatory to insure both the purchased object and the client. This service involves compensation for the risks of property damage and deterioration of health.

Mortgage money is issued in Russian rubles, no matter what program is used. There are also requirements for borrowers. They can be persons aged 21-75 years. Under the military program, the client must be no older than 45 years. Many banks have a fixed term for using the loan. Usually it does not exceed 30 years. Many people choose Sberbank to issue a mortgage without a down payment. Conditions there are more acceptable for all citizens.

Clients must have Russian citizenship. You also need to have a regular income, which is confirmed by a certificate from work. Equally important is your credit history, which must be positive. The bank needs to provide proof of employment.

Sberbank services

Russian citizens are offered a mortgage without a down payment. Sberbank provides similar services in compliance with several requirements. The application is approved if valuable property is provided as collateral. Instead, there may be guarantors. Sberbank issues loans for high-income citizens, as well as for property owners.

There are many preferential programs under which mortgages are issued to single mothers, military personnel, and young families. Typically, loans are provided using family capital, as well as with the presence of a guarantor. Such borrowers are subject to strict conditions compared to those clients who take out a mortgage with a down payment.

Each city has its own banks that offer mortgages without a down payment. St. Petersburg, like any other city, has many financial organizations. Many people turn to Sberbank, because it offers favorable conditions for borrowers.

Sberbank programs

A person should consider whether he can afford a mortgage without a down payment. Sberbank offers several programs:

• Government-backed loan.
• Loan refinancing.
• Family capital.
• Mortgages for the military.

If the program is selected, you should clarify the loan conditions. They may differ from a regular loan.

What does VTB24 offer?

Other banks also provide mortgages without a down payment. VTB24 will be an excellent choice if there is no money to pay the first payment. The advantages include a long loan term - 50 years, which is not found in every bank. Thanks to this, you can take out a mortgage for the desired period, paying in small installments.

The bank offers a favorable mortgage without a down payment. VTB24 offers low interest rates. The rate is 8-12.5% ​​depending on the amount of debt. There are no fees for providing a loan. That is why this bank is the choice of many people.

And if there is real estate

If you already have housing, it can be used as collateral when signing a mortgage agreement. Then you can count on an amount not exceeding 70% of its assessed value. The final loan amount will be determined by the client's income.

Which banks provide mortgages without a down payment? You can take it from the Bank of Moscow, where you must provide your own home as collateral. You can purchase any property: an apartment, a house. A mortgage is provided for secondary housing without a down payment, as well as for primary housing. The loan amount ranges from 500 thousand rubles to 60% of the price of the collateral property. The rate is determined by the size of the mortgage and ranges from 13.15-15.25%.

A mortgage without a down payment in Moscow can be issued at Rosbank. There, clients are offered a profitable program for a room, apartment or house. The rate is 12.6-14.1%. The security is an apartment, a house with a plot. The bank can issue a mortgage for an amount not exceeding 80% of the assessed value of the collateral. Rosbank is one of the institutions that issues loans, the amount of which is less than the cost of housing. What other banks offer mortgages without a down payment? It is issued at the Housing Finance Bank, Svyaz-Bank, Alfa-Bank.

Additional collateral

A mortgage without a down payment in Moscow can be arranged in another way. Additional security is required as collateral. Programs may contain special conditions that the borrower must fulfill. Which banks provide mortgages without a down payment? Currently such services are provided in:

• "Economy Bank".
• "Communication Bank".
• "Bastrobanke".

Gazprombank offers clients the “Improving Housing Conditions” program. It does not require an initial payment, but it has a special feature. With the execution of the contract, the client is obliged to sell the collateral property within 9 months and repay the loan with funds. The amount cannot be less than 15% of the price of the purchased home.

For down payment

There are banks that offer loans under special programs “for a down payment.” When paying off debts, the client must close 2 loans. Which banks provide a mortgage without a down payment if you take out an additional loan? There are not many such organizations. These include DeltaCredit and Moscow Mortgage Agency. You should find out about such a service from a specialist at the bank where you want to apply for a loan.

Maternal capital

A mortgage for a young family without a down payment can be obtained thanks to maternal capital. Banks offer to use it as repayment of the down payment. Not all credit institutions provide this service.

Where can you get such a loan? You can pay for your mortgage with maternity capital at VTB24 and Sberbank (11 and 14%). DeltaCredit Bank offers to obtain a mortgage by paying only 5% of the property price. Now the banks NomosBank and Primsotsbank are working with maternity capital.

Preferential lending

This mortgage is provided on preferential lending with the help of government subsidies. But it will not allow you to pay more than 10% of the property price. The program provides the opportunity to obtain a loan at a low rate. How to get a mortgage without a down payment in this case? You must provide a certificate that confirms this right. The document is obtained from the authorized body of the constituent entity of the Russian Federation.

The issued certificate is valid for 6 months. For banks that work under the program, there is a list of documents required to apply for a loan. To become a participant in preferential lending, you will need a 2-NDFL certificate for six months. The payment amount should not exceed 45% of the income of the client and co-borrowers.

There are few such organizations that offer mortgages without a down payment. Reviews indicate that you need to familiarize yourself with the offers of several banks and then make a decision. Borrowers are also advised to first consult with a financial expert who will help them choose the most suitable option. Loans of this type are provided by AHML partners. Each region has its own list of organizations that deal with obtaining mortgages for young teachers. You can choose a suitable bank on the AHML website.

Mortgage for young teachers

Teachers under 35 years of age can get a mortgage using a preferential lending program. The annual rate is 8.5% for the purchase of an apartment and 10.5% for a private house or apartment during construction. Mortgages for secondary housing without a down payment are provided by the banks Interkommerts, Petrokommerts, CJSC Reliable House, CJSC Housing Finance Bank. Each institution offers its own conditions, which borrowers should familiarize themselves with in advance.

For a young family

The best option for purchasing housing for a young family is to use the state support program. If you become a participant, you can receive a subsidy from the state, which will be the first payment. Spouses under 35 years of age can use the program.

When the certificate is received, the first payment will be paid by the state. Families who are on the waiting list can take advantage of these benefits. It is important to choose the right program. Further actions do not differ from the standard procedure. A mortgage for a young family without a down payment will be the best option for purchasing a home.

"Gazprombank"

Which banks provide mortgages without a down payment? To obtain a loan, you can contact Gazprombank. To do this, the borrower needs to provide an application form, passport and income certificate. The loan period is 15 years. The minimum rate is 15.25%, and the collateral discount is 30%. The maximum you can take is 30 million rubles.

There is an official website for Gazprombank clients, as well as a hotline, through which you can get all the latest information. Only to obtain a loan you must provide collateral in the form of housing.

"Alfa Bank"

Alfa Bank does not require a down payment, but a deposit is required. The rate is equal to 9.2% for the purchase of housing in Moscow, and also from 12.3% in other regions of the Russian Federation. The maximum mortgage period is 25 years.

Alfa Bank should be contacted by people who can confirm their income using a personal income tax certificate. Business owners must provide financial statements. Permanent registration in the region is not required. In this bank you can obtain mortgages on the primary and secondary markets.

Required documents

How to get a mortgage without a down payment? If all conditions are met, you need to prepare documents. They are different in each bank, but most of them require:

• Statement.
• Passport.
• Marriage certificate.
• A copy of the work book.
• Help 2-NDFL.
• Right to real estate.

Only when you have this list, you need to contact the bank. In some cases, additional documents are required.

Features of the procedure

How to get a mortgage without a down payment? You need to submit an application for a loan from your chosen bank. The borrower must provide personal information, leaving contact information for communication. A mortgage application can be processed within a week. If a positive decision is made, the client is informed about this by telephone.

After this, the client needs to visit the bank office, presenting all the necessary documents to the specialist. Only then does the registration procedure begin. An agreement is drawn up between the bank and the client, which will regulate their rights and obligations. You need to familiarize yourself with this document so that there are no difficulties in the future.

During the registration period, the specialist should ask questions about the rate, payment, and lending features. A mortgage is issued for a period specified in the agreement, during which payments must be made.

Mortgage for military personnel

A loan for the purchase of real estate with benefits can be obtained by military personnel who have been participants in a savings mortgage for 3 years. During this period, funds were regularly transferred to the borrower's account. This money will be used as a down payment. All other deposits go towards repayment, and your own funds are not spent.

The client needs to choose a suitable program, taking into account the following nuances:

• Mortgages are provided in rubles.
• 9.5% is the minimum rate.
• Loans are provided to military personnel up to 45 years of age.
• The mortgage is issued in the amount of 15 thousand - 2.4 million rubles.
• No proof of solvency is required.
• No need to take out life insurance.

Residents of Moscow have access to a social loan, whoever gets in line. Housing that is issued on credit is the property of the municipality. Only Russian citizens with Moscow registration and regular income can use it. You had to get in line before 03/01/2005.

• Purchasing housing with benefits.
• Funds are transferred to the candidate for start-up investment.

An application for the program is submitted to the housing fund. When an application is submitted, a personal file is opened, and housing parameters are established based on family income. After this, the borrower needs to collect the necessary documents and also prepare for registration.

Before applying for a mortgage, it is advisable to consult with a specialist in order to take out a profitable loan. This will avoid many mistakes. An expert will tell you for what period it is better to take out a mortgage, as well as which bank is more profitable to do it with.

Each bank offers its own lending conditions, which may differ markedly from the offers of other institutions. Thanks to a careful approach, you will be able to correctly complete the transaction.

Mortgages without a down payment are issued in some banks. However, most organizations offer to use a loan for which you need to make a first payment. In both cases, careful attention to the transaction is required. Then you will be able to purchase housing at favorable rates and on suitable terms.

For an adult, and especially a person burdened with a family, it is normal to want to get his own apartment or house. As in many other countries, the majority of transactions for the purchase of residential real estate in Russia are carried out through mortgage lending. It’s just that in recent years it has been almost impossible to find a bank that would agree to lend money without a down payment, the minimum amount of which is 15-20% of the transaction amount, which is quite a lot. And this stops many potential borrowers, because they simply do not know where to get that kind of money.

Option 1. Accumulate

This option can rightfully be called classic. In order to contribute part of the funds from your personal budget when purchasing an apartment on credit, this money can be accumulated over a certain period of time. True, to do this you need to calculate the amount that you will withdraw from the budget every month. There are two main parameters for the calculation - the amount of money you will need to apply for a mortgage (don’t forget that in addition to the down payment, you will also have to pay other expenses) and the deadline by which you must save this money.

It’s rare that anyone manages to change the expenditure side of the family budget upward without making significant changes in the family’s lifestyle. Usually you have to either start saving on something or look for an option for additional income. Both options should be carefully weighed to see if they suit your capabilities. If your budget was already very modest, it is unlikely that you will be able to find an opportunity to cut it even more. Moreover, we will be talking about a fairly long period of time. Likewise, you will not be able to find additional employment opportunities if you currently have a fairly busy schedule.

Option 2. Help from the state

When it comes to how the authorities (federal and regional) can help Russians with a down payment, the first thing that comes to mind is maternity capital. Indeed, the amount of this benefit is large enough to in some cases become the first payment on a mortgage loan, or at least part of it. So, this amount (more than 450 thousand rubles) is quite comparable to the “classic” size of the down payment (20%) for an apartment worth 2 million rubles.

Don’t forget about government support programs for Russians who want to take out a mortgage loan. These programs are very different, some (like, for example, military mortgages) are implemented at the federal level and are relevant for the whole country, while others are the initiative of regional authorities. Some of these programs precisely involve compensation of the first loan installment from budget funds.

Option 3. Sell something... needed

You can give up something for the sake of home ownership. Think about what you have that is so valuable that the proceeds from its sale will be enough for you to make a down payment on your mortgage. A summer cottage, not a new car, perhaps securities or jewelry. It is quite possible that, having set the goal of collecting as much money as possible, you will review all the unnecessary things in the house (or even those that were taken to the dacha or garage). Perhaps what seems like trash to you is something someone really needs. And such sales will be another step towards a mortgage.

Option 4. Ask for money for the down payment on a mortgage as a gift. Or in debt

If you have fairly wealthy parents or relatives, when inviting them to your next celebration, invite them to give you gifts in monetary terms. In other words, donate money. This request will be especially relevant if you are inviting them to a wedding. However, if there are no people in your circle who can afford to give a large sum, you can ask to borrow this amount. True, then it’s worth getting acquainted with

Many people in need of housing do not have the means to purchase it. A mortgage loan may be a way out of this situation. But the question arises about the down payment, which is sometimes not possible to make.

Some banks allow you to purchase housing under “no down payment” programs. There are also alternative options for obtaining a mortgage in which you do not need to deposit cash. But where and how to get a mortgage without a down payment?

How to get

Banking institutions provide mortgage loans without a down payment to clients with high incomes or those who, in addition to the purchased property, own additional property. The bank may ask for this property as collateral.

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A mortgage can be obtained using maternity capital, double mortgage, consumer loan or with the guarantee of legal entities and individuals. They must have a good reputation and be financially secure.

Bank programs

To attract new clients, banks began to offer many mortgage programs without a down payment.

To receive money to purchase real estate, the borrower must have:

• citizenship of the Russian Federation;
• registration of the Russian Federation;
• permanent place of work;
• good credit reputation;
• age over 21 years.

When applying for a mortgage, you must submit a package of documents to a banking institution:

• loan application;
• passport (copy);
• driver's license or foreign passport;
• document on family composition;
• work book (copy);
• certificate of income (form 2-NDFL) or according to the bank form;
• document for the purchased property.

The list of documents may increase depending on the selected program.

Maternity capital as a down payment

Maternity capital has been allowed to be used as a down payment since 2009. To use these funds for a mortgage, you do not have to wait until three years have passed since the birth of your second child.

The certificate can be provided to the bank immediately after receiving it. Maternity capital will be transferred by the Pension Fund only after registration of the property in the name of the owner.

When using maternity capital, in addition to the standard list of documents, the bank must provide:

• application statement;
• certificate (copy);
• certificate of compulsory pension insurance.

Double mortgage

When lending, the bank issues two mortgages: the first mortgage is issued against real estate owned for a down payment, and the second is secured against the apartment being purchased.

Banking institutions offer double mortgage loans at high interest rates. To get more favorable conditions, these loans can be obtained from different banks.

Consumer loan

The down payment on a mortgage can be paid with funds obtained through a personal loan. He can be released without bail.

This program is suitable for borrowers who do not own property. Thanks to this method, it is easier to get a mortgage, and the conditions will be much more favorable.

Disadvantages of a mortgage with a consumer loan:

• income must cover payments on two loans;
• high interest rate on non-targeted loans;
• double burden of monthly debt repayments;
• a consumer loan is issued for a shorter period;
• with the same income, the amount issued is much less than for a mortgage loan.

This option will be beneficial to the client if he has the opportunity to repay the consumer loan ahead of schedule.

Is this always beneficial?

A mortgage without a down payment has many advantages, but there are also disadvantages:

• high interest rates;
• the amount of monthly payments is much higher than with a classic mortgage;
• a larger amount of property is provided as collateral;
• the costs of notary and insurance company services increase;
• more stringent requirements are imposed on the borrower;
• the income should be significantly higher than with a loan with a down payment.

Where to get?

A mortgage without a down payment is considered a risky type of lending for banking institutions.

Banks compensate for their risks with high interest rates, require expensive collateral, etc. But even with all these shortcomings, such a program is popular, which is why many banks offer it.

Sberbank

Sberbank issues mortgage loans without a down payment under three programs:

• with government support;
• mortgage refinancing;
• mortgage with maternity capital (provided that housing will be purchased on the secondary market).

The maximum amount for the regions will be 3,000,000 rubles, and for Moscow and St. Petersburg - 8,000,000.

VTB 24

In this banking institution, you can pay the first installment with maternity capital. Its amount must exceed 20% of the value of the purchased property.

The bank provides double mortgage programs, but the loan amount will be issued for no more than 90% of the price of the old property. Such conditions are suitable for those who have an expensive apartment and want to buy another, cheaper one.

At VTB 24, you can get a mortgage loan simultaneously with a consumer loan or refinance a mortgage obtained from another bank. The loan is refinanced using two documents: the first is a passport, and the second is at the borrower’s choice. There are no fees or penalties for early repayment.

Rosbank

Issues a mortgage without a down payment secured by purchased housing on the secondary market. The loan is issued for one-room apartments at a fixed rate of 12% per annum.

The borrower must be between 21 and 65 years of age, with a good credit reputation and permanent employment. Citizenship and registration are optional. The application can be submitted online.

Bank of Moscow

One of the first banks in Russia to offer a mortgage without a down payment is the Bank of Moscow.

It offers the following programs:

• mortgage plus maternity capital;
• double mortgage;
• consumer loan secured by real estate.

With a mortgage, there are no fees for registration, issuance or early repayment. Special conditions are provided for salary clients. An online application option is offered.

Rosevrobank

You can get a mortgage without a down payment at Rosevrobank both in rubles and in foreign currency.

Early repayment without fees is provided from the first day of receiving the loan. Additional risk insurance is not required.

Loko-Bank

Recently, the bank has been offering mortgages for the purchase of real estate on the primary market without a down payment. To apply, the borrower must provide an official income certificate. The building in which the apartment is purchased must be accredited by the bank.

Summary table of bank offers

Even without funds for a down payment, it is possible to take out a mortgage loan. The main thing is to choose the right program and calculate your capabilities.

If you don’t have your own funds to buy an apartment, then a mortgage helps out. But the problem is that not all banks issue loans without a down payment. In this case, what should those who do not even have the threshold amount to get involved in long-term bondage do? Should I borrow? But from whom? Let's try to figure this out.

From bank to bank

The down payment on a mortgage is usually at least 20 percent, less often financial authorities reduce it to 15. But even in this case, the amount is considerable. And if in the regions, when buying a one-room apartment for two million rubles, the down payment of 20 percent is 400 thousand, then in the Moscow region, say, Zheleznodorozhny, when buying a similar “one-room apartment” you will have to pay twice as much, since here real estate will cost from four million rubles, which means the down payment will be from 800 thousand.

Of course, many developers, seeing these calculations, will be indignant - after all, you can buy it cheaper. It is possible, but we are not taking into account studios of 18 square meters, but are talking about full-fledged one-room apartments in which you can live, and not just exist.

Plus, the apartment must be at the maximum stage of readiness, and prices at this stage are known to be the highest. It’s somehow inhumane to offer people a mortgage on houses that will be sold in three or four years, because buyers start paying interest to the bank immediately after the deal is concluded.

So, the money is serious; most likely, only another bank can lend it. In this case, credit brokers offer clients to take out a consumer loan. But it is not profitable for two reasons: first, interest rates are too high - from 17 to 25 percent per annum and higher, second, another bank where you plan to take out a mortgage may refuse a loan after learning that the applicant already has an outstanding debt. The fact is that for the bank in this case we are talking about a high-risk borrower, and he does not need problems.

An exception can only be borrowers with a high level of income, who will be able to service two loans - a mortgage and a consumer one. Another option is to take out a consumer loan, for example, for your wife, and use the amount received as a down payment for your husband when getting a mortgage. However, if a couple acts as co-borrowers on a mortgage, there is no guarantee that they will receive bank approval.

But in general, it’s easier for spouses to struggle with a mortgage than it is for them alone. If you still plan to take out a consumer loan, then you need to try to repay it ahead of schedule, otherwise the overpayment will be very significant.

Projects in installments

Perhaps it makes sense to sell a garage or a dacha, for which the future mortgagee chooses only a couple of times during the summer. And use the proceeds to buy an apartment.

There is another option, but it is even better to use it before contacting the bank - this is to search for projects in which the developer sells apartments in installments. True, in this case the down payment will be even higher, so this is more suitable for those who earn decent money. Most often, the down payment in installments ranges from 30 to 50 percent, and unlike a mortgage, its term is very short - from six months until the completion of construction of the house. But this is an ideal option for those who are planning to sell their old home, garage, car or cottage, that is, they are expecting a large amount of money to arrive soon. Installment payment is usually an annex to an equity participation agreement (DPA), which is concluded if the buyer has funds, his own or borrowed.

Still, it’s best to save up for the down payment yourself. How? Try to save 30-50 percent of your monthly salary for a bank deposit. Study the offers of various banks - some offer good interest rates on deposits. As a result, a sufficient amount can accumulate over the year, plus it will be replenished with interest accrued during this time.

Hundred Friends

It’s good for those who have loyal friends who are ready to help at any time even in financial matters. Borrowing from relatives and friends for a down payment is an ideal option, although in today’s realities it seems impracticable. If you borrow 20-30 thousand rubles, then your circle of friends should be at least fifty; the chances of borrowing the required amount in this case are negligible. It is better to ask for a large loan from two or three reliable people, however, in their eyes you should also have the same qualities. It’s a pity that, given inflation and unstable exchange rates, not every relative can decide to borrow money today.

If the borrower was lucky and managed to borrow the required amount, and even without interest, then lawyers advise drawing up a receipt. It is not necessary to have it certified by a notary, but it is worth following the rules: the receipt must be written by hand, the loan amount must be indicated in words, all the data of the borrower and the lender are listed (passport details, place of registration and actual residence), the conditions and terms for repayment of the borrowed amount are indicated, and also the date and place of drawing up the receipt. All this is certified by the signature of both parties with a transcript.

Instead of a receipt, you can draw up a loan agreement and have it certified by a notary. If you are not sure that your friend will agree to lend money for the down payment, it is better to initially offer to formalize all financial arrangements with this document. Then, perhaps, the person will make a decision easier. In the event of litigation, the loan agreement will be a more significant document than an ordinary receipt. Accordingly, the friend will feel more secure, and the chances of borrowing money from him will increase.