There are nine ways to get a mortgage without down payment. Let's look at each of them in detail. But first, a few words about why banks require a down payment. This needs to be sorted out so that you can better understand the specifics.

When we want to buy real estate and turn to the bank for help, we need to understand that by issuing a loan, the bank risks its own. The mortgage is issued for a long period (20-30 years) and during this time anything can happen to the borrower, as a result of which he stops paying his bills.

To protect itself, the bank issues a mortgage loan secured by the purchased housing. With the help of collateral, the bank insures itself against the risk of non-repayment. If the borrower cannot pay the bills, the lender sells the property and receives the loan money back.

But, since the situation in the real estate market is constantly changing, the bank needs to insure itself in case the cost of housing falls. For these purposes, an initial payment is required. Let's look at an example:

Example one: The bank issues a mortgage without a down payment

Let's say there is a bank that issues mortgage loans without a down payment. The borrower wants to buy an apartment for 2 million rubles. The bank issues the required amount no down payment.

Then, after 5 years the situation changes. For some reason, the borrower fails to pay the loan and the bank takes the apartment, since it was pledged. But the real estate market has sank and the previously purchased apartment is no longer worth 2 million rubles. Having sold it, the bank does not compensate for its costs and suffers a loss.

Example two: The bank issues a mortgage with a down payment

The cost of the apartment is 2,000,000 rubles. Down payment 20%, that is, 400,000 rubles. The loan amount is 1,600,000 rubles.

5 years after the start of the mortgage, the borrower has been laid off from work and can no longer fulfill his loan obligations.The bank, on the basis of a collateral agreement, seizes real estate from the debtor in order to repay the loan.

Due to the crisis, the cost of the apartment dropped to 1,700,000 rubles. But this is not scary for the bank, since it issued you a loan for 1,600,000 rubles.To quickly sell the property, the lender makes a discount (discount)for the difference between the loan amount and the market value, that is, it takes off 100,000 rubles. As a result, the bank returns the issued 1,600,000 rubles. + receives income in the form of payments you have paid for 5 years.

Morality: It is not profitable for the bank to issue a loan for the full cost of housing. It is beneficial for him to give a loan where the collateral value of the property will be higher than the mortgage amount.

However, there are options for buying a home without a down payment, let's look at them in more detail.

Special offers from banks

On the market mortgage lending meet Special offers for which you can get a mortgage without any down payment without any tricks. There are very few such offers, but sometimes they still happen.

Why are there few of them? Let us remind you that a mortgage is a long-term loan and the bank takes a big risk by lending money to the borrower without additional insurance for itself. And the down payment is precisely one of the options for reducing risks for banks.

Mortgage without down payment from Promsvyazbank

You can get a mortgage without a down payment at Promsvyazbank only for new buildings and in certain residential complexes. Rate from 10.9%.

Conditions

• The rate for the entire loan term is 10.9%, applied when purchasing real estate in the PSN Group of Companies (residential complex "Domashny", residential complex "SREDA", residential complex "Polyanka 44", residential complex "I'm", residential complex "Grinada") and LLC “Rozhdestveno (residential complex “Mir Mitino”). For holders salary cards– rate 11.9%, for other clients the rate is 12% upon joining a collective insurance contract or concluding an individual insurance contract.
• A mortgage without a down payment for the purchase of an apartment can be obtained from the following partners of Promsvyazbank: PIK Group, Inteko - rate 12%4. GC "TEN", "Morton", GC "Development-Yug" - rate 12.3%5.
• The maximum loan term is up to 25 years.
• Loan amount: up to 20 million rubles (except for Moscow, Moscow Region and St. Petersburg).

Requirements

1. Russian citizenship and registration on the territory of the Russian Federation (permanent or temporary) in the region where the bank’s offices are present;
2. Age from 21 to 65 years inclusive on the date of repayment of the mortgage loan for women and men;
3. Total work experience – from 1 year, length of service at the last place of work – from 4 months;
4. For individual entrepreneurs and business owners – the business has existed for at least 2 years.

Mortgage without down payment from Metallinvestbank

The bank offers to obtain a mortgage for an apartment in an apartment building under construction or a finished apartment building no down payment or deposit– this is the main advantage. But there are also disadvantages: there must be a co-borrower and a guarantor. In addition, the interest rate is higher than that of a conventional mortgage - 13%.

Conditions

The conditions for obtaining a mortgage from Metallinvestbank are almost the same as usual: Mortgage amount from 250,000 to 8,000,000 rubles. Repayment period from 1 year to 25 years.

The interest rate is 13% per annum. A prerequisite is home insurance against damage and loss. A certificate for issuing a guarantee is attached to the standard package of documents ()

Requirements

The requirements for the borrower, guarantor and co-borrower are the same:

1. Russian citizenship and registration on the territory of the Russian Federation (permanent or temporary);
2. Age from 18 to 55 years for women, for men - up to 60 years;
3. At the end loan agreement age should not exceed 65 years;
4. Total work experience – from 1 year;
5. Work experience at last place of work – from 4 months.

Important: Although the requirements for everyone are the same, unlike the lender and co-borrower, the guarantor is not a co-owner of the apartment. However, if the borrower and co-borrower are unable to repay the debt, then the guarantor assumes this responsibility and, through the court, can seize the apartment for the money spent.

Inflated housing costs

This method of purchasing real estate without a down payment is one of the most popular and is designed for a wide range of potential home buyers with a mortgage. While the other methods discussed below have a lot of restrictions, there are fewer of them here.

The essence of the method is as follows:

• We find an apartment at a price, preferably below the market price. This could be an apartment that needs to be sold urgently, or without renovation, or in a residential area, etc.
• We are appraising an apartment for the bank at an inflated price.
• We agree with the seller so that he signs a receipt that we have already paid him the down payment.
• We provide documents to the bank and receive a mortgage.

Let's look at an example:

An average two-room apartment somewhere in the region costs 2,500,000 rubles. With repairs and depending on the area, these cost 3 million rubles, and with a smaller area and without repairs in the region of 2.2 - 2.3 million rubles. Let's say we found a suitable object in good condition for 2.3 million rubles.

The initial payment will be 345 thousand rubles. (15% of the cost of housing according to Sberbank terms).

We prepare documents for the bank and agree with an independent appraiser that he will draw up a document in which he will evaluate the purchased apartment at 2,645,000 (2,300,000 cost of housing + 345,000 rubles down payment). An independent assessment is a document on the basis of which the bank makes a decision on the amount of the loan issued.

Next, we make two receipts with the seller. In the first we write that we made a down payment of 345,000 rubles. In the second receipt, which in the language of realtors is called a counter receipt, we write that the seller has returned the down payment to us.

We will take the first receipt to the bank as proof of the down payment made. The second receipt is more necessary for the seller; it is his insurance against money not actually received. If something happens, he will be able to show it and say that he has returned the money to us.

What are the difficulties in this scheme?

• First difficulty– find housing that can be valued higher than its actual cost. There are no fools working at the bank either, and such schemes are easy to figure out. Dozens of transactions go through them every day. If they see that a similar apartment on average in the market costs 2.5 million rubles, and you brought an estimate of 3 million rubles, they may conduct an inspection or require an additional independent assessment from another specialist. Nevertheless, if you are not “rude”, then this option works quite often.
• Second difficulty– find a specialist (independent appraiser) who will agree to this adventure. Such a fraud can cost the appraiser his entire career, so the appraiser will not make such a deal with a person who came from the street. This is usually done through friends.

The easiest way to carry out such a transaction is through a trusted realtor or real estate agency. Yes, you will have to pay a commission, but your chances will be higher, because realtors know not only many appraisers, but also bank employees.

They “cook in this porridge” together every day, this is their bread and, often, they are connected not only by professional, but also by friendly relations.

Consumer loan instead of down payment

The second most popular way to get a mortgage without a down payment is a combination of mortgages and , where a consumer loan acts as a down payment.

That is, you take out two loans, which will increase your monthly payment and the final overpayment, but if your income allows it, and it takes a long time to save money for a down payment, then why not?

Let's take a visual look at what obligations will look like if you have debt on both a mortgage and a loan:

Mortgage: The cost of the apartment is 2 million rubles. Down payment 200 rubles (10%). Mortgage loan amount – RUR 1,800,000. The loan term is 15 years. Interest rate – 11%. Monthly fee – 20,459 rubles. Overpayment on the loan – 1,882,574 rubles.

Consumer loan: You took out 200 thousand rubles to pay off the first installment. Monthly payment for this loan 7,280 rub. The repayment period is 3 years. Interest rate – 18.5%. The overpayment on the loan will be 62,107 rubles.

For three years, you will pay 27,739 rubles, and then 12 years at 20,459 rubles. The overpayment of interest for both loans will be 62,107 rubles more and amount to 1,944,681 rubles.

If you decide to use this method, then you should know the sequence of actions when applying for a loan and mortgage.

When to take out a consumer loan: before or after?

When considering a mortgage application, the lender will take into account all debts that the borrower has. In our case, take consumer loan Before applying for a mortgage, it would be unwise to:

• Firstly: Why take out a loan to pay off the down payment if the mortgage has not yet been approved? After all, they may not approve of it.
• Secondly: When considering a mortgage application, the bank will check all your debt obligations. And this consumer loan may become a reason for refusal.

Therefore, a consumer loan must be issued after the mortgage application has been approved.

Algorithm of actions

• Step one: First, we submit documents for a mortgage to the bank. In the application form, we indicate that the money for the down payment will be taken from personal savings. Once the application is approved, we have another month to finalize the mortgage agreement. During this time, you need to have time to apply for a consumer loan;
• Step two: You apply for a consumer loan from another bank for an amount equal to the down payment and transfer the money to a bank account;
• Step three: You enter into a mortgage agreement.

Important: The bank may refuse an already approved mortgage if it finds out about this loan.

Mortgage from the developer

A mortgage without a down payment from a developer is attractive due to its affordability and ease of registration, and is suitable for a wide range of buyers. However, the disadvantages of this option are no less significant - high interest rates and a high risk of falling into the hands of scammers or running into unfinished construction.

Developers offer two types of mortgages without a down payment:

• Registration through the bank's bank. The advantages of such a mortgage are a reduced rate and a quick decision on a loan.
• The developer provides his loan against the security of the purchased apartment.

In the second case, the mechanism for obtaining a mortgage will be different. To get a loan from a developer, you need a minimum of documents - usually a passport and income certificate.

The developer does not require a deposit - the apartments already belong to him. Buyers with a bad credit history receive a loan on a general basis. Construction companies do not require an insurance contract.

There are advantages, but there are also disadvantages:

• The interest rate on a developer's mortgage is 3-7% higher.
• The developer's mortgage is short-term. No more than 24-36 months depending on the company. Requires an appropriate level of family income.
• There is a risk of transferring money to scammers. For the transaction, it is better to hire a lawyer with a specialization in the housing code and do not be lazy to find reviews about the developer.

Mortgage secured by real estate

If one of the spouses owns an apartment, then a mortgage secured by real estate can be considered as an option for obtaining a loan without a down payment.

Let's look at this point with an example:

Alexey Sirotkin wants to take out a mortgage secured by real estate. But the mortgaged apartment is not registered in his name, but in his wife’s name. Since Alexey’s wife will in any case act as a co-borrower when drawing up a mortgage agreement, this option is also possible.

The main advantage of a mortgage secured by real estate is low interest rates. Disadvantage: the deposit price of the apartment serves as the down payment. If there are shares of minor children in the collateral apartment, the bank will refuse.

Documentation

In addition to standard documents to obtain a loan, you will need certificates of ownership:

• Agreement to transfer property as collateral. The form is provided by the credit institution;
• Purchase and sale or privatization agreement;
• Certificate of registration of property rights;
• Extract from the Unified State Register of Real Estate;
• An extract from the house register so that the number of registered people can be seen;
• If there is a spouse, consent to the transfer of property as collateral from him;

• Assessment by an independent expert. Order from a real estate agency or law office.

When the documents are collected and the application is approved, the money is transferred to the account of the apartment seller. And you become a debtor to the bank.

Bank offers

The most favorable conditions for such a mortgage are provided by AHML. The interest rate will be from 9.25 – 9.50% depending on the cost collateral apartment.

“Young family” program

The amount of assistance from the state under the “Young Family” program is 35% - 40% of the cost of purchased housing. The amount of support may vary in each region.

• pros– you can receive from the state a large sum of money (up to 600 thousand rubles) for housing free of charge.
• Minuses– there is an age limit (you may not wait for your turn), a limit on space per person, etc., more details below.

Conditions for participation in the program

To participate in the program, you must meet the following conditions:

• Families with or without children can participate. At the same time, a childless family can only count on 30–35% of the cost of purchased housing. And a family with one or more children is from 35 – 40%. The figure will depend on the region. For example, in Moscow 30% is given to childless couples and 35% to families with children.

In St. Petersburg they give 30% for a childless family, and for families with children they charge 5% for each child.

• Both spouses must not exceed the age limit of 34 years. Let's give 2 examples:

1 At the time of applying for participation in the program, Sergei was 34 years old, and his wife was 25 years old. When it was time to receive help, Sergei was already 35 years old. In this case, unfortunately, the family will be excluded from the list of participants. If Sergey had asked the local administration in advance about the planned date for issuing the subsidy, he would not have had to waste time collecting documents and false hopes.

2 Sergei and Marina are 33 years old. They were 34 years old at the time the aid was issued. Sergei and Marina are lucky; they will receive a subsidy from the state.

• Both spouses, including children, must be Russian citizens;

• Local authorities must recognize that you need improved housing conditions. Depending on the region, there is a standard area per person, for example in Moscow it is 12 sq.m., and in Chelyabinsk - 10 sq.m. This information can be found in social security.

Let's look at an example:

I need data for Chelyabinsk, I went to the regional website of the Kurchatov Department social protection and selected the “contacts” section

The page displays contact information for specialists. Highlighted in red are those departments and telephone numbers by which we can find out information on housing standards.

If there are less square meters per resident than the norm, the applicant has the right to participate in the program. If family members are registered at different addresses, the footage is calculated according to their place of registration.

• Spouses must prove that they have the ability to pay the monthly mortgage installments - for this purpose it is provided for the last 6 months.
• There must also be personal funds to pay the balance of the down payment if the subsidy does not cover it completely. For example: The apartment costs 10,000,000 rubles. The down payment on the mortgage is 10%, that is, 1 million rubles. The state can allocate 600,000 rubles. That is, you must have at least 400,000 rubles to be enough for the down payment. To do this, you will need to provide the bank with a statement from the account where this money is stored.
• An important condition is the area of ​​purchased housing, it must be no less than the established area standards for each family member.

Let's look at the situation using an example:

The Novoseltsev family consists of three people; the standard size for them is 30 square meters. The Novoseltsevs found an apartment at an affordable price, but the total footage of the housing was 28 square meters. Unfortunately, the state cannot provide a subsidy for the purchase of such an apartment. But if the Novoseltsevs find housing of 30 square meters or more, then they will be able to apply for government assistance.

Step 1: Documents

The first stage is submitting documents to register under the program. Documents can be brought in person or sent by mail to the address of the local administration.

1. Application () for participation in two copies.
2. A copy of documents confirming the identity of all family members: Russian passport and birth certificate, if the child is under 18 years of age;
3. A copy of the marriage or divorce registration certificate;
4. An extract from the house register is taken from the local administration;
5. Documents for property or a certificate of its absence;
6. Certificate 2-NDFL for the last 6 months;

After submitting the documents, the administration registers the application and checks for accuracy within 30 working days. Then a response is received by mail about inclusion in the program or refusal. Information about the application review process can also be found by contacting the administration with a passport.

First they just put you on the queue. The speed of progression in the queue depends on the number of applicants and the money in the administration’s budget. In other words, you can wait 3 years, or you can wait 25 years. Or you may not wait at all, since by then the program may be terminated or its conditions may be changed.

The status of the queue can be checked by contacting the administration in person or by sending documents by registered mail via mail or email:

1. Copy of the passport;
2. Application for services (download application form);
3. Consent to the processing of personal data (download the consent form).

The time limit for receiving a response in person is 15 minutes. Through other methods – up to 30 days.

When the turn comes, the administration issues a certificate of the right to receive social benefits for the purchase or construction of housing. It is valid for 7 months from the date of issue.

Step 2: Receiving assistance under the program

1. With the certificate, you contact the bank where the mortgage agreement is concluded. The agreement will indicate the account number for payments;
2. Take a photocopy of the agreement to the administration;
3. After 6 working days, the administration transfers the subsidy to the specified details.

Bank offers

Some credit organizations create special conditions for people taking out a mortgage under the Young Family program:

Maternal capital

Maternity capital can be used as a down payment when applying for a mortgage.

Please note that maternity capital cannot be cashed out. The payment process occurs only through Pension Fund(PFR) and bank branch. The loan can be paid using the certificate even if the child is under three years old.

Step 1: Mortgage Documents

In addition to the basic mortgage documents, the bank is provided with:

1. Maternity capital certificate;
2. An extract on the balance of funds in the mother’s account is taken when contacting the Pension Fund in person or on the Pension Fund website:

• IN personal account;
• Through the section “ Electronic services without registering":

Go to the section “Ordering certificates and documents”

Fill out the form and click the “continue” button.

A selection of references will appear below. Select “Certificate of the amount of maternity capital” and click “continue”.

A calendar appears on the page where you can select the date of your visit. Click “order”.

An alert appeared with the date, reception time, Pension Fund address and telephone number. Please also note that below there is a recommendation to print out the coupon; you may need it when registering your application.

An extract from the Pension Fund on the balance of funds in the maternity capital account is valid for 30 days.

In each individual case, the bank has the right to request additional documents, so you should ask about this in advance. If the application is approved, then we move on to the next stage.

Step 2: Pension Fund documents

To pay the down payment using a maternal certificate, you must provide the following documents to the Pension Fund:

1. Application for disposal of maternity capital funds ()
2. Passport and original certificate;
3. A copy of the mortgage agreement;
4. If the mortgage is secured by real estate, a copy is required
   a loan agreement registered in Rosreestr;
5. A notarized obligation to arrange a mortgage for housing in
   common property of all family members;
6. The administration obtains a certificate stating that the housing area meets the required standards;
7. Certificate from the BTI confirming that the housing complies with the technical standards of residence (availability of gas, electricity, heating).

After submitting the documents to the Pension Fund, maternity capital funds will be transferred to the bank account within 6 days.

Bank offers

Military mortgage

For military personnel Russian Federation developed special program, in which the Ministry of Defense assumes obligations to repay all mortgages, so the serviceman will not have to pay anything at all.

Not all military personnel can receive such assistance; moreover, the registration process itself includes several stages that require quite a lot of time to complete.

State support receive:

Mandatory– officers and warrant officers who first served under a contract after January 1, 2005.

On a voluntary basis:

1. Reserve officers who have served since the beginning of 2005.
2. Warrant officers and midshipmen who have served for more than three years.
3. Sailors, soldiers, sergeants who signed a second contract after January 1, 2005.
4. Graduates of military universities with a service life of more than three years.
5. Employees of the FSB, FSO and Ministry of Internal Affairs.
6. Workers of paramilitary units of the Ministry of Emergency Situations.

Grounds for exclusion from the support program are dismissal from service, final payment of contributions, or death of a military member.

Step 1: Obtaining a Program Participant Certificate

Money received for housing loans is stored in personal savings accounts military personnel. The amount of money in the account can be seen in your personal account on the official website of Rosvoenipoteka.

To gain access to the office and include yourself in the register of participants in the savings and mortgage system (NIS), you need to write a report about this to the unit commander. You can buy housing 3 years after registering with NIS.

Form of report on inclusion in NIS

A copy of the passport and military contract is attached to the report. After this, a personal card for a participant in the military support program is generated.

Then a personal account is opened and access to the system participant’s account is obtained. At this stage, you need to write another report to the commander: to obtain a program participant certificate:

Report on obtaining a program participant certificate

Please note that the certificate is valid for 6 months.

Step 2: Contacting the bank and concluding a purchase and sale agreement

The employee then contacts any bank that provides military mortgages. At this stage, the military man provides the following documents:

1. Certificate of program participant;
2. Photocopy of passport;
3. Photocopy of military ID;
4. Borrower questionnaire. The form can be obtained on the bank’s website or in the office.

Then a preliminary home purchase agreement is concluded ().

Step 3: Loan agreement

The next stage is concluding a loan agreement. After which, the serviceman provides the Federal State Institution “Rosvoenipoteka” with documents certified by the bank:

1. A copy of the loan agreement;
2. Agreement on opening a bank account, card with a sample signature.
3. Market assessment of the value of the apartment, which is issued by a bank manager or an independent appraiser.
4. Copies of all pages of the passport.
5. Statement on the intended purpose of NIS funds ().

Rosvoenipoteka makes a decision on granting a loan within 10 days. After Rosvoenipoteka signs the agreement, we take it back to the credit institution.

Step 4: Transfer of ownership of the apartment

The next step is the transfer of the apartment into the serviceman’s ownership. In banks, personal managers will give a list necessary documents and help with their design. Among them will definitely be:

1. Receipt for payment of state duty;
2. Apartment acceptance certificate;
3. Contract of sale;
4. Insurance contract in case of unforeseen circumstances.

Step 5: Transfer of documents to Rosvoenipoteka

At the final stage, the borrower submits the following documents to Rosvoenipoteka:

1. A copy of the purchase and sale agreement;
2. A copy of the insurance contract;
3. Receipt for payment of insurance premium;
4. Extract from the Unified State Register. are received from Rosreestr on the basis of a passport, a receipt for payment of state duty and an application.

Then Rosvoenipoteka transfers the money to a bank account.

Bank offers

All banks give approximately the same conditions for military mortgages. You can save tenths of a percent per annum:

Step 2: Opening a bank account

All document flow is carried out through the state real estate agency (AHML). The purchase and sale agreement is also concluded with the participation of the Departments Federal service state registration, cadastre and cartography.

Step 3: Getting a mortgage

Based on an application on a bank form, a copy of a passport, documents from a real estate agency and a certificate of participation in a preferential mortgage, the credit institution provides a mortgage.

Bank offers

Is it possible to get a mortgage under the “Moving” program?

Another option for obtaining a mortgage without a down payment was previously the “Moving” program. There is information about this program on some websites on the Internet, but we want to warn readers that this program has not worked since 2015. Perhaps someday it will work again, so it makes sense to write about it too.

The Moving Mortgage is suitable for those who already own a home. The essence is simple: AHML, through partner banks, issues a mortgage secured by the purchased apartment. In addition to the mortgage, a loan is provided for a down payment secured by an existing apartment. The interest rate is the same for mortgages and loans – 12%. The repayment period is 2 years for the mortgage and 1 year for the loan.

• Pros: No monthly payments. The initial loan is repaid in the first year with a one-time payment, after which the collateral encumbrance on the apartment is removed. Over the next year, it is necessary to sell it in order to pay off the mortgage itself in a one-time payment.
• Minus: Still, you need to have a stable, high income in order to save the required amount for a loan. In one year you need to repay 10% of the mortgage amount. If it’s 200 thousand, then it won’t be difficult to save up. But if it’s 600,000, then it’s more complicated.

Important: AHML only issues an amount equal to 60% of the cost of existing housing.

Conclusion

So, we have looked at 9 ways to get a mortgage without a down payment. Be careful when studying advertisements of real estate agencies and development companies. In their advertisements they may offer you some other new way registration of a mortgage without a down payment or “iron” guarantees of mortgage approval from the bank, which most often is a marketing ploy.

4 / 5 ( 1 vote)

The housing issue worries many families, as it requires large investments and efforts. Attraction borrowed money in 2018, for many, this is the only opportunity to acquire their own home. Standard terms Mortgages require a down payment to be made from the personal savings of the future borrower. When there are no savings, the question arises whether it is possible to take out a mortgage without a down payment and what alternatives exist for such cases.

Why do banks require a down payment?

Including a down payment in the mortgage terms is of great importance for financial institutions:

• firstly, having your own savings means that the potential client has sufficient income to allow him to save a certain amount;
• secondly, depositing funds confirms the seriousness of the borrower’s intentions and his willingness to invest in the purchase.

Just recently, banks vied with each other to offer many tempting programs that did not require the candidate to make serious investments in future property. The risk of financing transactions without a down payment was compensated higher rates and more stringent lending conditions. However, the unstable economic situation has led to a significant reduction in the number of banks and the programs offered without a down payment.

The refusal of programs without a down payment was quite justified and was associated with the mandatory registration of a deposit. Purchasing housing entirely at the expense of the bank means that in the event of non-repayment of funds by the borrower financial institution will be forced to sell the mortgaged housing in order to pay off the debt. In conditions when real estate prices are falling, there is a high risk that the bank will not be able to compensate for its costs. Additional measures will be required to ensure profit for the organization.

Taking into account the current situation, high chances for approval from borrowers who take on additional responsibility in the form of:

• issuing a guarantee;
• state subsidies;
• collateral in the form of highly liquid property that the bank client already owns.

A feature of current lending without a down payment is more stringent conditions that limit the terms, amount, and types of housing, reducing the possibility of purchasing a room and other less liquid housing.

The decision to purchase an apartment without being able to make part of the payment yourself must be carefully thought out, since the overpayment on the mortgage will be higher by 3 percent or more. Taking into account the long term of the loan and the large loan amount, the overpayment may be excessively high. Even a minimal contribution will allow you to seriously save money in the process of paying for an apartment, as well as reduce your monthly payment.

When buying a resale property, it makes sense to consider the option of buying cheaper housing and making any significant amount as an advance payment.

Each lending institution develops its own unique offers that allow you to become a home owner within a short time. Before you apply for a mortgage without a down payment, you need to study the current offers of financial institutions. While differing in nuances, most programs have similar conditions for obtaining a standard mortgage:

1. The duration of the loan is up to 25–30 years.
2. Large loan amounts.
3. Currency – Russian rubles.
4. Registration of a pledge of the acquired property.
5. Insurance for the collateral.

Borrowers also have their own requirements:

1. Official employment of the borrower for a period of time established by the lender.
2. Working age from 21 years.
3. Citizenship of the Russian Federation.
4. Stable income that allows you to pay monthly contributions.
5. No arrears on previous loans.

The purchased property must meet certain parameters:

• the object can only belong to legally capable persons over 18 years of age;
• real estate must be highly liquid and in excellent condition;
• the collateral property should not be the borrower’s only home, so that in case of debt on the loan, the bank can sell it to repay the debt.

Allocation decision line of credit is accepted by the financial institution after reviewing the application, taking into account the borrower’s income, and if necessary, it is allowed to attract co-borrowers, whose earnings are taken into account when determining maximum size mortgages. The spouse becomes a co-borrower by default.

The level of a person’s confirmed income is the main criterion for determining the amount of an acceptable monthly transfer. It is impossible to calculate payments without a certificate of income, as well as to determine solvency, therefore employment in a stable, well-paid job is one of the main conditions for a mortgage.

To conclude a mortgage agreement, you will need to collect an impressive package of documents:

1. Personal documents of borrowers/co-borrowers/guarantors.
2. A certificate from the employer confirming the duration of work and the amount of remuneration.
3. Legal and technical documentation for the pledged property.
4. Additional securities determined by each lender individually, based on the selected program.

Given the difficult situation in the real estate market, the list of banks providing loans in the amount of the full cost of housing is significantly limited. To figure out where to get a mortgage without a down payment, you need to conduct a thorough analysis of the available offers, because sometimes an increased interest rate entails a significant increase in the cost of the total cost of the loan.

In addition, you can find options using various government subsidies instead of savings. This will reduce the size of the cash loan and reduce interest rate. When choosing a mortgage, it is recommended to pay attention to banks with a proven reputation that have been successfully lending to mortgage clients for many years.

It will not be possible to buy an apartment or house entirely using borrowed funds from Sberbank; you need a good starting payment. However for individual categories Citizens have options that allow them to take into account social payments towards the down payment:

1. With the involvement of maternity capital, they can provide housing to a family in which a second child was born. In close cooperation with the Pension Fund of the Russian Federation, the bank accepts the amount due from the state under the family certificate as a down payment.
2. Military personnel have a chance to get housing without having personal savings under the program military mortgage. The first enumeration is performed from state budget, and the program itself has a reduced rate of about 9.5%.

The advantage of cooperation with a financial organization is the reliability of the structure, transparency of conditions and low interest rates.

For those who are planning to buy housing in a new building, it is recommended to study the offer of Vozrozhdenie Bank, which has targeted programs for financing the acquisition without attracting its own capital.

The “New Building” program with the support of partner developers allows you to get modern, comfortable housing on the following conditions:

1. Amount – up to 15 million rubles.
2. Repayment within 30 years.
3. The rate is set depending on the selected developer - from 10.9 to 12.3 percent.

Gazprombank is one of the few lending places where you can purchase an apartment with a mortgage without a down payment.

Detailed terms and conditions can be found on the lender’s website or by calling the hotline.

Basic loan parameters:

1. The repayment period is 15 years.
2. Rate – 15.25%.
3. Fund limit – 30 million rubles.

The bank provides lending services with mandatory additional collateral.

VTB 24

The uniqueness of VTB24’s offer lies in the possibility of lending for up to half a century. The bank will give secondary housing the required amount with minimal or zero investment. Thanks to reduced rate, even a family with modest income. The interest overpayment will be from 8 percent per annum.

The financial institution provides special lending conditions for its regular or salary clients.

Despite the fact that mortgages have become much more affordable in recent years, not everyone can still afford an apartment on credit. One of the main obstacles for most potential borrowers is the need to make a down payment. Its size depends on the terms of the specific mortgage program, but most often banks require you to pay at least 20% of the cost of housing. The same figure is specified in the conditions for obtaining a mortgage with state support.

Why do you need a down payment?

All market participants surveyed by Radi Dom PRO are unanimous that an initial payment is necessary. First of all, banks, of course, need it to reduce risks. “As the practice of past years shows, the absence of a down payment entails an increased risk of non-repayment credit funds", states the head of the directorate mortgage sales VTB Bank Georgy Ter-Aristokesyants. “According to our statistics, borrowers with a down payment of less than 10% default, on average, five times more often than borrowers with a down payment of more than 20%,” says the director of the mortgage lending department at VTB24. Andrey Osipov.

Another major risk associated with not having a down payment is the potential drop in the value of the collateral if real estate prices decline. “The experience of the crises of 2008 and 2014 clearly showed that such a trend is possible. In this case, the bank risks receiving only part of the loan that is not secured by collateral,” explains the director of the department of lending and insurance products of Absolut Bank Anton Pavlov.

At the same time, the down payment is also useful for the borrowers themselves, since it encourages them to take a more responsible approach to the fulfillment of their obligations. “If the economic situation in the country worsens or the borrower loses his job, there is a high probability that he will stop paying the loan. And in the absence of nested own funds It’s psychologically easier to do this,” confirms the head of the collateral products department of Otkritie Bank. Anna Yudina.

Is it possible to do without a down payment?

But still mortgage programs There are some on the market that do not require a down payment. The question is how beneficial they ultimately turn out to be for the borrower, since it is obvious that the terms of these programs will differ from what most banks offer.

What might these differences be? Firstly, the loan rate will most likely be higher. Such conditions apply, for example, to Surgutneftegazbank, which issues mortgages for the purchase of apartments in the Zelenogradsky residential complex. As the ABC of Housing company (acting as the project’s realtor) clarified, for borrowers without a down payment the rate will be 1 percentage point higher, and the apartments themselves will be 200 thousand rubles more expensive.

Secondly, the borrower may be asked to pledge the property he already owns. “Programs with a zero down payment can only work if additional risk reduction tools are used: for example, existing real estate, which the client plans to sell within a limited period of time and uses as collateral to obtain a loan for a down payment,” explains the deputy chairman of the bank’s board “ DeltaCredit" Denis Kovalev.

However, it is possible that the developer will take on some of the risks. The head of the mortgage department at NDV-Real Estate told the portal about one such program. Kristina Shulgina. The essence of the program is that the bank, an individual and the developer enter into a tripartite agreement, according to which the latter undertakes to buy the apartment at the price specified in the DDU if the borrower defaults.

Of course, not all developers are ready to take such a risk, so in the foreseeable future we are unlikely to see the spread of such schemes. And the mortgage itself without a down payment is unlikely to ever become widespread, agree the interlocutors of Sake of the House PRO. What you should definitely expect is a further reduction in average rates for mortgage loans, as a result of which by 2020, according to AHML forecasts, the number of families who will be able to afford a mortgage will grow to 2 million per year.

You can apply for a loan for the purchase of living space without depositing your savings at the following banks that provide loans for these purposes:

Today, not every institution provides a mortgage without the borrower's own funds. This is associated with high risks for the bank.

What do you need to take out a loan for an apartment without starting investments?

In 2017, if you want to get a loan to purchase housing, there are the following bank requirements:

What documents are required for a particular bank can be found out not only at the representative office, but also on the official portal on the Internet.

5 financial institutions that issue home loans

OTP Bank

It is impossible to become the owner of a mortgage loan in this financial institution without using your own savings.

Today the smallest down payment reaches 20%.

The loan amount under bank programs does not exceed the threshold of 60-80% of the price of the purchased home.

Rosbank

Rosbank offers the following options:

• additional loan to pay the down payment;
• loan secured by real estate owned;
• refinancing.

As part of almost any mortgage with a down payment, it is possible to take additional loan for this purpose. The bank takes into account the fact that the price of housing is quite high, so not everyone is able to pay even 10% at once. The collateral for such a loan will be your own real estate; it is issued immediately with a mortgage.

Such a loan is repaid immediately after the end of the contract. It is possible to repay the loan in installments. The longest loan term is up to 2 years, and the rate is 12.75%. The amount of the additional loan may not exceed 70% of the price of the property secured by it.

If you own some kind of housing, and its price makes it possible to take the required amount as collateral to purchase housing, then you don’t have to pay any contribution. The bank simply issues the required amount. But it should be noted that the conditions here are not very attractive:

• the loan is given for a period of up to 10 years;
• interest rate from 16.5%.

Loans under the Refinancing program are intended for those whose housing is already in mortgage collateral another financial institution. The program will help you change the loan terms, payment schedule and size. There is no down payment, but the loan amount should not exceed the remaining balance of the existing mortgage. There is also a strict requirement that there are no arrears on the loan that is being refinanced. Payment of 11% is expected. Funds are issued for a period of up to 25 years. It is also important that the borrower has ownership rights to the home.

Koshelev Bank

This institution offers only one program for obtaining a mortgage without contributing your own funds to initial stage for secondary or primary market housing.

It is called “Maternity Capital”. The loan amount is 300 thousand - 2 million rubles.

Loan term 4-20 years. The first installment is the Mother's money family capital.

Zhilstroybank

JSC " Commercial Bank housing construction , known as Zhilstroybank, was established in 1994.

The main owner of the organization was the company "DSK No. 1".

Currently there are no mortgage offers from the bank, including those without a down payment.

The official website does not contain information about services for individuals and legal entities.

Advice: Explore all the programs offered in your region. You can often find promotions and special offers from banks.

National Bank

This bank was created in 1992 in the capital of Karachay-Cherkessia under the name JSCB Lakma. In 2002, the organizational and legal type changed to CJSC. The bank received its current name 7 years ago. Since the summer of 2015 it has been operating as a joint stock company.

In addition to the main office in Cherkessk, the company has a branch in the capital and an operational office in the Republic of Chechnya. There is no ATM network.

The bank does not issue mortgage loans for the purchase of housing, including those without down payments. For individuals transfer services are provided without bills, deposits, letters of credit, consumer loans, bank cells, plastic cards and so on.

To summarize, it is worth noting that to obtain a mortgage, a down payment is not always an indispensable condition. Such funds can be replaced with certificates, collateral, and consumer loans. It is important to choose suitable program and financial institution.

But before you go to the bank with a loan application, you should evaluate your own strengths and finances, because any financial institution will take into account all the risks of the program and, if there is the slightest doubt, offer higher interest rates.

What is a mortgage without a down payment? Is it possible to take out a mortgage without a down payment and is it worth it? Where can I get a mortgage without a down payment?

How to get a mortgage without a down payment in 2019: Top 10 proven ways to bypass the down payment

The topic of today's story: " »:

• What is a mortgage without a down payment?
• Is it possible to take out a mortgage without a down payment and is it worth it?
• Where to get a mortgage without a down payment is as profitable as possible.

In general, if not down payment , and you really need housing, then be sure to read this article to the end.

Why do banks need a down payment?

First of all, let's figure out what a mortgage is and why banks require an initial fee.

A mortgage is a loan from a bank to purchase a home. As a rule, the bank takes as collateral exactly the real estate that is purchased with a mortgage. Until you pay off your debt to the bank, your home will be under encumbrance. This means that you will not be able to sell, donate or do anything else with this property.

It would seem that everything is fine. The bank gives you money to buy an apartment, and itself receives a guarantee in the form of a mortgage on it. If you suddenly cannot pay the mortgage, he will simply sell it and get his money back. But it's not that simple.

A mortgage loan without a down payment is too risky for a bank for two reasons:

1. The real estate market is very unstable. Periods of rising property values ​​are followed by protracted crises that bring down housing prices. If a bank issues a mortgage at the peak of prices, then it simply will not be able to sell an apartment at the required price to cover the debt of a borrower who is unable to continue paying the loan during a crisis.
2. Mortgage with zero contribution attracts low quality borrowers. Banks believe that if a person cannot save money for a down payment, it means he does not know how to manage his finances, and as a result, there is a risk of non-payment on the mortgage due to low payment discipline. The second point is that banks are convinced that mortgages without a down payment are for low-paid borrowers with “gray” incomes and unofficial employment, and this again poses a risk of future problems with repayment. But practice shows that all this is just speculation by banks. Delays on mortgage loans are minimal (3-4%), and those who decide to take out a mortgage usually fulfill their obligations to the bank quite regularly.

One way or another, but an initial fee has become a mandatory requirement for most banks. With a mortgage, you are required to have 10-15% of cash on hand from the cost of the apartment.

But for every lock there is a master key. Wanting is not harmful, but not wanting is harmful. Now let's talk about 10 ways to bypass the down payment at the bank.

10 proven ways to get a mortgage without a down payment

So, let's look at the most popular methods get an apartment with a mortgage without a down payment . As a result, you will become absolutely clear how to arrange mortgage without down payment exactly in your case.

1. Classic mortgage

Classic mortgagewithout a down payment in 2017, presented by the bank - this is Metallinvestbank and its program « Mortgage without down payment ».

The essence of the program is very simple. You are issued a mortgage in full for the entire cost of the apartment without any problems at a fixed 14% per annum (if you do not insure life and health, then +1%).

Without a down payment, a mortgage is possible only for employees (not individual entrepreneurs and business owners), in the amount of 250 thousand to 3 million, for a period of up to 25 years. It is not possible to obtain a mortgage to build a house under this program.

Use onlinemortgage calculator to make a mortgage calculation without a down payment at Metallinvestbank. The calculated initial payment should not exceed half of your family income.

Important point! The monthly mortgage payment must be half of the household's net income (minus credit and card payments and dependent expenses). For example, if the income of a family of three with one minor child is 50,000 rubles per month. There is a loan with a payment of 5,000 rubles, then the maximum that this family can claim is approximately 1,450 thousand rubles.

Also, a mortgage with 0 down payment can be obtained from SMP Bank (from 12.5%), Bank Vozrozhdenie (from 12.95%) and Promsvyazbank (from 13.3%), but only for a new building and from specially accredited developers.

2. “Moving” program and analogues

The next option on how to get a mortgage without a down payment could be the “Moving” program from Levoberezhny Bank or its analogues in other banks.

If you don't have money for an initial fee , then the bank can lend them to you on the security of your other home. Those. You apply for a mortgage in the bank you need, and the money is an initial fee you receive from Levoberezhny Bank, for example. However, you do not need to pay monthly for this loan.

The money is issued for a year on the condition that during this period you will find buyers for your apartment and sell it with the bank’s permission at the price you need without haste, and then repay the loan with interest. But you don’t have to sell this apartment, but simply return the money to the bank + interest that accrues during this time (from 17.5 to 19% per annum).

The advantage here is obvious - a legal way to get money for a down payment without checking income requirements and your employment.

Example.You are not officially working, but you have an apartment that you can mortgage. The bank will give you no more than 60% percent of its appraised value. From 3 million this is 1800 thousand rubles. At VTB 24 Bank you can get a mortgage using two documents without proof of employment, if you have a 40% down payment. Thus, even if you are officially unemployed or have a low official income, but own an apartment, you will be able to purchase housing for up to 4.5 million rubles.

The disadvantage is also obvious - the presence of an apartment in the property.

3. Secured by real estate

There is one more real way To avoid searching for a down payment is to take out a loan secured by existing real estate.

You, as in the previous option, need to own your own property, but you will be given the required amount in cash without analyzing where you will spend this amount.

This is commercial mortgage without down payment . It is very often taken out for business purposes, or for the purchase of non-standard housing, which is not suitable for a regular mortgage.

Mortgages secured by real estate exist in almost all large banks. In particular, at Sberbank you can take non-targeted loan secured by real estate in the amount of 500 thousand rubles. up to 10 million. The amount is given within 60% of the collateral value of the property. The term is from one to twenty years at a rate of 14% per annum.

4. Credit

Another option to get a mortgage without a down payment is to take out a consumer loan, including a consumer loan secured by a car, and take out a regular mortgage.

Here you need to approach the matter head-on.

Firstly, you need to calculate whether you can make the loan payment and the mortgage payment at the same time. Consumer loans are issued for a shorter period and at a higher rate than a mortgage. You can very quickly fall into arrears if problems with work and income begin.

Secondly, A consumer loan must be taken out at the right time. Depending on the type of bank, there are different algorithms for issuing mortgages. As a rule, after you have provided documents on the property to the bank after the application has been approved, you can safely go and take out a loan for the down payment, but from a different bank. The bank will not check your credit history again and will not notice that you have a new debt.

But there are other options when the bank requires you to place a down payment in an account or put it in a letter of credit before issuing a loan. Then if you take out a loan, the bank will see it in credit history and can cut the amount of an already approved mortgage or completely turn the application into a refusal, and you will be left without an apartment, but with a consumer loan in hand.

5. Borrow

If you don’t want to overpay, then you should consider borrowing money.

On the one hand, the simplest option. Ask relatives or friends to borrow money and contribute it to pay the down payment on the mortgage, and then return it, if possible, with or without interest.

But on the other hand, not everyone will have the amount they need on hand. To buy an apartment for 3 million rubles, you need to find approximately 450 thousand. The second point is psychological. It is not always convenient to borrow from close relatives and friends, and, moreover, if there are problems with repayment, then you can ruin your relationship with them forever.

The pension fund will transfer the money to the bank within two months and pay off part of the mortgage for you or in full, if the amount is enough.

Mortgages without a contribution for maternity capital are currently most profitable in Sberbank (from 12% per annum) and Uralsib (10.8%). At Raiffeisenbank you can get a mortgage without a down payment from maternal capital at 12.5% ​​per annum, but only if you have an official income of 2 personal income taxes, if according to the bank form, then you need to find 10% PV. Reviews about these banks are only positive.

7. Subsidies from the state

The state actively helps certain categories of citizens in solving the housing issue. In particular, they can take out a mortgage without a down payment in the Moscow Region under the program "Social mortgage in the Moscow region" teachers, doctors and scientists. The first payment for them up to 50% will be covered by the budget.

Without a fee in Moscow and other cities, the program should be considered ( social mortgage). There are a number of benefits for a young family. You can receive a subsidy from the state up to 35% of the cost of the apartment.

To participate in the program, you must contact local authorities and provide necessary documents so that you are recognized as in need of improved housing conditions.

There is a savings-mortgage system for the military. Within this system, special account a certain amount is accumulated, set by the state, which a service member can use to pay the down payment on a military mortgage.

Thus, after three years of service, a zero down mortgage is entirely possible for a military member.

And best deals military mortgage from Russian banks.

8. Overstatement

If you are planning to rent an apartment without a down payment, then you must know the term “Overstatement”. Now let's figure out what it is.

You can bypass the bank's requirement for a down payment in different ways. The simplest of all options is to simply inflate the cost of the apartment to the bank.

In this situation, you show the bank the cost of the apartment is higher than it actually is by the amount of the down payment, and also provide it with a receipt from the seller as confirmation of payment.

Example. The cost of the apartment is 4 million rubles. The down payment must be, at the bank's request, 15% (600 thousand). If you don’t have such money on hand, then we submit an application to the bank under the following conditions: the cost of the apartment, taking into account the overstatement, is 4,706 thousand rubles, the loan amount is 4,000,100, the down payment is 705,900 rubles. The bank approves the required amount (4,000,100 rubles), and then provides a receipt stating that the seller allegedly received 706,000 rubles from the buyer as a down payment. The bank transfers the entire amount of 4 million to the seller.

Possible problems:

• You may not be able to get your apartment appraised by the bank. If the overstatement is too large and the cost of the apartment differs greatly from the market, then the bank may refuse to lend to this housing.
• It will be extremely difficult to purchase an apartment from a developer in a new building. Banks do not accept receipts from legal entities.
• The seller has a risk that the buyer may demand the return of the “virtual” down payment.

9. Loan from the Academy of Sciences and the developer

To avoid problems with appraising an apartment or need a mortgage without a down payment from the developer, there is a way to take out a loan for the down payment from the developer himself or a real estate agency.

The essence of the program is that you take out a regular mortgage, and the developer or AH gives you an interest-free or interest-bearing loan in the amount of the down payment. You give it to the bank, and then return the loan on the terms that were specified in the agreement.

This scheme is used more often in conjunction with inflating the cost of an apartment, then the developer receives the entire cost of the apartment from the bank at once, and a cash receipt order is issued to the bank for the amount of the overstatement. In this case, after receiving the keys and in the absence of claims from the buyer, the loan agreement is destroyed.

As a rule, an additional fee is charged for this service - 3-5% of the cost of the apartment.

You can also take out a loan from any microfinance organization.

10. Promotions from the developer

To support developer sales, they often conduct various promotions. For them, mortgages have become a powerful tool for selling apartments. Mortgages with state support simply pulled out the construction industry in 2015-16.

For every developer, the down payment on a mortgage is a headache. The majority of the population simply does not have the money for it. Moreover, when purchasing an apartment in a new building with a mortgage, you also have to pay rent for the apartment while the house is being built.

A promotion from the developer may consist of an installment plan for the down payment or a special discount in the amount of the down payment on an apartment.

It is necessary to constantly monitor the supply market so as not to miss an interesting option.

When is it profitable to take out a mortgage without a down payment, and when is it not?

Before you decide to buy, you should calculate your mortgage using our calculator and think about how profitable it is for you.