Mortgage has become a sign of modern Russian society. And if so, then inevitably there are many of its options. Those whose financial situation is brilliant can not be called (and there are most of them in the Russian Federation), the mortgage without down payment interests of all. If we estimate the average cost per square meter of housing in the cities of Russia (then there is no talk about Moscow), then with a monthly accumulation of 10 thousand rubles with a proportional increase in accumulative contributions due to inflation, it will take ten years to save.
Is it reasonable to save on real estate in the Russian Federation
And it will be necessary to somehow dodge, in order to avoid the already mentioned depreciation of money. The only more or less proven method – the purchase of precious metals (gold, silver, platinum). But even here are some pitfalls. And again, not every inhabitant of the Russian Federation is able to unclip a quarter, a third, a half from their blood salary every month for 10 years only in savings. And the term itself is incredibly huge.
Ten years is a lifetime. In the sweat of your face, gorbitsya 10 years, in the end (perhaps!) To get some ordinary “dvushku” somewhere in the regional expanses of this country? Now in Russia the only alternative to such a dubious perspective is mortgage. And one of the few major problems with a mortgage is the down payment.
Down payment is not just the first payment of all subsequent regular payments to the bank for money issued for the purchase of housing. This fee is much more than the rest of the subsequent monthly. At a minimum, it is 10% of the total value of housing taken on credit.
That is, for example, if an apartment costs 2 million rubles, then the down payment under the most benign conditions of a Russian bank will be 200 thousand rubles. Few of the citizens of this country are able to immediately and without problems to find such a sum. The banking sector justifies the policy of the initial contribution by the fact that this is how the solvency of the client is checked. Although it is clear that a client who is solvent in terms of banking ideals will not bother with a mortgage on an average apartment.
Those citizens are involved in this sector, for whom it is quite difficult to immediately pay several hundred thousand rubles. Therefore, it is worth considering mortgage options with no down payment. Before the political and economic crisis that began in 2014, many banks had special programs with the simplest option, when the down payment was no different from all subsequent ones. That is, in fact, was absent as a financial concept. But now it is in the past. In short, there are only a few options:
- cancellation of the initial payment on the security of existing residential real estate;
- two mortgage loans. One is for a contribution, the other is for the living space itself;
- repayment of the initial contribution by the parent capital;
- military mortgage with no down payment;
- use of consumer loans to repay the down payment.
Solving the problem through existing housing
It’s simple. If the owner (s) already has residential real estate, the bank can give a mortgage for the purchase of another housing. Since here the reimbursement of possible losses is guaranteed, then the initial payment does not make any sense at all. However, this method is not particularly common. Just because people joining the mortgage sector just do not have any housing. In addition, this way you can buy on credit only cheaper residential real estate compared to the existing one. The size of the mortgage loan is determined by the market value of the real estate, which the borrower already has.
In this case, the bank will give less than 75% of this value. Thus, a financial institution not only guarantees a return of funds, but also a payment for the services provided. Moreover, the size of the resulting mortgage affects not only the cost of housing of the borrower, but also the income of the borrower. The smaller they are and, in the bank’s opinion, unreliable, the smaller the loan will be. For example, only 65% of the market value of the apartment of the borrower.
“Double-loan” is supported as a separate program in some banks, but most often it is necessary to deal with two banks. The first bank issued a loan of several hundred thousand rubles. In the second bank, the usual mortgage is taken with a down payment. And this fee is extinguished by the funds from the first loan. Money intended for a down payment is also issued on bail. But here is enough of any residential property. Even if the property has only a room in a communal apartment, this is enough to cover the amount of the deposit.
It is another matter that many young Russian families do not even have this, roaming through rented apartments. Given this fact, some banks agree to issue a loan for an initial installment secured by movable property. For example, cars. Of course, it is worth remembering that the interest of the first loan is quite high. And in time it is much shorter than the second.
Redemption of the initial contribution by the parent capital
This is a separate issue, which is part of an extensive topic on how to pay a mortgage in general by the parent capital. But for young families, it is relevant. Receiving family capital can facilitate payment with the bank, including the down payment. Only it should be remembered that this contribution can be redeemed with matkapitalom only when the only or youngest child turns 3 years old. And the capital itself must remain inviolable up to this point.
Use of consumer loans
The principle is the same as in the double credit version. Only the first loan provided for leveling a fee is issued as a consumer loan. What is there to remember? Firstly, even within the framework of a consumer loan, if the amount is more than 200 thousand rubles, many banks may require something for collateral. Or reliable guarantors. Secondly, in the absence of collateral, they will most certainly be closely studying the borrower’s income.
Their reliability and warranty. It means that people who have no formal employment, or if the s / n is below a certain threshold, it will be harder to get a consumer loan. But it is still possible to get a loan without formal employment, since not all banks require a document on official earnings. Third, whatever one may say, interest rates in the consumer lending sector are very high. Statistics show that people try not to take more than 100 thousand rubles here. Basically, this type of lending is intended for the purchase of household and digital equipment, as well as clothing and footwear.