Timeframe for reviewing a mortgage application at Sberbank: how many days does it take to wait for a decision and how long does it take to process?

The constant rise in real estate prices has made it impossible for most Russians to purchase housing with their own savings. And to solve this problem, citizens traditionally turn to banking organizations to obtain additional credit funds. Sberbank offers the largest selection of mortgage programs on the housing lending market.

One of the most cherished desires of every person is his own house or apartment.

The bank's popularity among borrowers is also explained by the fact that it offers relatively low rates and special benefits. But not everyone who applies to a credit institution knows how many days it takes Sberbank to consider an application for a mortgage. This is an important point: there may be several reasons for the delay in the long-awaited response from the lender.

How long does it take Sberbank to consider a mortgage application?

Lately, borrowers have begun to complain that the bank is delaying decisions on issuing loans. Many people are perplexed that the promised 5 working days stretch for a month. According to the rules, the maximum period for consideration of a mortgage application form is 30 days. Such a wide time range depends on many factors, and in some cases they depend on the personality of the applicant himself.

What does it depend on

When making a decision, the lender is guided by an analysis of the solvency and reliability of the future borrower. The assessment of the future borrower takes place in several stages: through automatic scoring, the security service, the analytical department and the risk department.

How long Sberbank will consider a mortgage application depends on the following:

loan term;
desired loan size;
type of mortgage program;
the need to evaluate the collateral;
credit history checks.

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Factors that influence

The length of time it takes to make a decision on a submitted application depends on the following factors:

Whether the applicant is a client of a banking institution. If the borrower receives a salary from this bank, has cards, deposits and other savings, then the attitude towards him is more loyal. For salary clients, the application is processed much faster, since the lender already has verified information about his income and place of work.
Status of the documents provided. It is easier to check official personal income tax certificate 2 than free-form income certificates. More time will be spent verifying their veracity.
The presence of guarantors and co-borrowers influences a positive decision, but increases the time for checking their financial condition.
The size of the requested loan funds also affects the duration of the checks. The larger the amount, the longer the verification procedure will take.

There is one more factor that does not depend on the applicant. This is the employment of bank employees and their professional qualities.

Time to consider a mortgage at Sberbank by stages

The entire mortgage transaction is a sequence of logical stages or steps, each of which requires a certain time. In its standard form, obtaining a mortgage includes the following steps:

collecting documents and submitting a loan application;
searching for a property to purchase;
approval of housing with the bank;
conclusion of credit documentation;
transaction registration;
full settlement with the seller.

Let's look at each stage in more detail in terms of the time that will be spent on it.

Filing an application

Having prepared the necessary package of papers for a mortgage, the client can submit an application. This can be done in two ways: online on the bank’s website or at a Sberbank branch that deals with mortgage lending.

The online application is completed in the borrower’s personal account or through the Sberbank-online service. In order to create such an account, you will need to indicate your full name, date of birth, telephone number and e-mail. The first thing the system will offer is filling in the data for a preliminary calculation on the calculator (real estate cost, term, amount of the down payment). You can learn how to properly apply for a mortgage from Sberbank online from a special post.

After filling out such information, the application with the specified parameters will be recorded in the account in the status “Waiting to be sent.” To send an application to Sberbank you will need to fill out:

passport details;
contacts;
information about marital status, presence of children, education;
employer information;
employment and income information;
availability of additional income;
data on current expenses.

In addition to indicating the above data, you will need to upload an electronic version of the documents. A complete list of documents for Sberbank mortgages is available at this link.

How long Sberbank takes to consider a mortgage application depends on how it was submitted. Sberbank's preliminary decision on the online application will be announced within one, maximum two working days. An application submitted through the service office can be considered from 2 to 5 working days.

Salary clients who have a valid Sberbank debit card have privileges when considering loan applications - the decision is made with minimal time (from two hours to two days).

IMPORTANT! The time it takes to make a decision on a mortgage at Sberbank depends on many factors, including the category of the borrower, the type of housing being purchased, location, and the use of government support instruments. Therefore, in practice, the duration can vary from 2 to 5 days.

Search for housing and the effect of a suspensive decision

After receiving preliminary approval of a mortgage application from Sberbank, the client, if he has not yet decided on the property to purchase, begins searching for it.

NOTE! The bank gives the borrower no more than 90 days from the date of the decision to search for housing and conclude a transaction.

It is during this period that the client must finally decide on the property that will become the subject of the mortgage. There is no need to rush in this matter. It is recommended to carefully read the housing documents and check the legal integrity of the seller and the property.

For non-accredited living space, a certain time is required for approval by Sberbank, which will have to conduct a thorough check and analysis of the upcoming transaction. How many

Property approval

If you purchase a new building that is on the list of objects accredited by Sberbank, then no approval will be required. The client will receive permission for the transaction automatically.

If the purchased housing (both primary and secondary) is chosen by the client independently, then the bank will have to accredit it. If the seller is a legal entity, then it is necessary to provide a package of documents regarding the object and the seller. When purchasing an unapproved new building, you will need a lot of design and permitting documentation, as well as investment plans and reporting from the developer.

On average, it takes Sberbank 1-2 working days to approve real estate if a company is represented as the seller. If the seller is a private client, then 3-5 days.

Electronic transaction registration

This Sberbank service involves remote submission of all documents and applications for registering a mortgage transaction. The bottom line is that after signing the loan agreement and mortgage agreement, the client, through a personal manager, submits a package of papers to Rosreestr for registration. The borrower's personal participation is not required.

The service is paid - from 5,550 to 10,250 rubles.

After a successful registration procedure, the client will receive documents with the appropriate mark to the specified email address.

The duration of electronic registration of a transaction is 5-7 working days from the moment the registration authority accepts the package of papers, but in fact it can take weeks. Read in detail about electronic registration in Sberbank in a special post.

Completing the deal

After the transaction is officially registered with the Registration Chamber or the MFC, and a new certificate is received, Sberbank is obliged to make the final payment to the seller (minus the down payment paid by the borrower).

Practice shows that the lender makes the transfer on the same day. If the seller's account is opened with Sberbank, then the money will arrive immediately. If in a third-party bank, the transaction may take from 1 to 5 business days.

If you have a transaction with safe deposit boxes, then the buyer comes to the bank on his own and makes a disclosure.

When using Sberbank's secure payment service, money is transferred to the seller immediately after registering online without having to go to the bank.

What documents are needed

The bank has many offers on mortgage programs and in some cases they differ in terms and conditions. Consequently, the list of required documents may vary for each specific option. But these differences are insignificant, and the main documents can be noted:

passport or other identification documents of the applicant;
information about the place of work;
certificate 2-personal income tax for the last six months to demonstrate the level of income;
confirmation of the availability of a down payment and its amount.

Communication with any bank involves the preparation and submission of many documents.
All information received requires careful verification in different authorities. A mandatory request to the BKI takes a lot of time. A check is made to determine the availability of deposits and real estate that can act as collateral. All this determines how long Sberbank will consider an application for a mortgage.

Submitting an application

Many borrowers, in the hope of increasing their chances of success, indicate in the application form not entirely reliable information about themselves and the amount of income, hoping that the lender will “take their word for it” and will not check the information specified in the application form. Those wishing to obtain a mortgage from Sberbank should remember that the bank has access to various databases and can easily check any information relating to a potential borrower. It's only a matter of time. After all, checking some data can last several days, while others can take a couple of weeks.

Example. Two potential borrowers of the same age, gender and with the same level of monthly income apply to the bank at the same time. The first of them, together with the application form, submits to the credit department a certificate of form 2-NDFL and his work book with confirmation of work experience and official employment. The second client, to confirm his solvency and the availability of the necessary work experience, provided the bank with copies of employment agreements (contracts) concluded with his former and current employer, as well as a certificate of salary, drawn up in free form. It goes without saying that the bank will need significantly less time to consider the application of the first client than the second. Therefore, the contents of the package of documents and the correctness of their execution also directly affect the period for consideration of the mortgage application.

The time it takes to consider the application depends on how quickly the bank rechecks the information provided by the client. If, when checking information about the client, the lender found inaccuracies or unreliable data, additional time may be needed to conduct a deeper check, or the bank will decide to refuse to issue a loan to the applicant.

Attention! When filling out the application form, it is very important to provide only truthful information about yourself and your income, otherwise you can ruin your relationship not only with this particular banking institution, but also with other potential creditors.

Application process: review period

No specialist will provide accurate information about the time frame for making a decision. This indicator is influenced by many factors. For salary clients, the procedure can take up to 5 days. All other applicants can wait an average of 2 weeks. Sometimes the verification may be delayed due to the large amount of documentation provided. In this case, the procedure may take about 30 days. This is the maximum period established by the regulations. If after this time there is no response from the bank, then you should wait for a refusal.

The loan application can be submitted in person at a bank branch or electronically through the website

Stages of obtaining a solution

For the applicant, the procedure for submitting an application and making a decision on it occurs in several stages:

You should carefully study the selected loan program, as well as the list of documents that need to be collected. It is this point that is most often ignored by the applicant. The more reliable the information received, the faster the bank will respond. You must add a completed questionnaire to the prepared list of papers. All documentation is transferred to the bank.
The credit department studies the information received and assesses the solvency of the future borrower. If a spouse acts as a co-borrower, then both are checked for solvency. Available subsidies are taken into account (participation in the state program, availability of maternity capital).
The bank makes a decision and notifies the client via SMS message.
If the decision is positive, the client is obliged to select a suitable real estate option within the stipulated period and coordinate it with the bank.

Waiting for the bank's decision

Having collected all the necessary papers, filled out the form properly, sent everything to the bank for review, the client begins to wait for the results. How long does it take to process a mortgage application at Sberbank? It is impossible to answer this question unambiguously, since such decisions are made on an individual basis, taking into account the characteristic features of each specific case.

According to official sources, Sberbank reviews mortgage applications within two to five operational banking days. But it is possible that additional time may be needed to make a final decision, on the basis of which the bank extends the period for consideration of the application. The question arises, why sometimes does a bank review an application and make a decision in just one or two business days, while in other situations it takes much longer?

This is due to the fact that the more a banking institution “knows” a potential borrower, the less time it takes to make a decision. If a person is faced with applying for a loan for the first time and very rarely uses the services and products of the bank, he has yet to earn the trust of the lender. To find out how much a borrower can be trusted, the banking system must check “up and down” the documents and information provided by him and make sure of his solvency.

Who can count on a quick decision on a loan?

Clients who:

have an open deposit in Sberbank;
are participants in a salary project (receive wages on a Sberbank card);
to increase their chances of approval of the application, they attract co-borrowers, whose income is also taken into account when considering the application and making a decision on the advisability of issuing a mortgage to a given client;
young families (both spouses or at least one of them are under 35 years old);
belong to the preferential category;
have a positive credit history;
participants of federal or regional programs;
wish to make a down payment on the loan in the amount of at least half of the loan amount.

If the applicant falls into one of these categories, the lender can review and make an appropriate decision more quickly and without delay.

How to speed up the application review process

Knowing what factors influence the speed of decision-making, you can try to speed up this process. It is important not to make the often repeated mistake of calling the bank every day and wondering when there will be an answer.

It is better to prepare for the procedure in advance. This means that it is necessary to provide reliable information about your financial situation on time and in full; certificates must be prepared properly so that bank specialists save time on checking them. If getting a mortgage is only in your project, try to become a salary client of the bank. This will not only speed up the procedure, but will also guarantee that you will receive a loan on preferential terms. It would be a good idea to first inquire about the state of your credit history, and if there are any misunderstandings about it, correct them.

The most painful thing for many is the process of waiting for an answer

Selecting a repayment schedule for a Sberbank mortgage

The correct selection of payment plays one of the key roles when approving a mortgage agreement at Sberbank. If the client chooses too large a contribution amount, there is a risk that he may fall into arrears. This will negatively affect your credit history.

When considering a loan application, Sberbank specialists pay special attention to the ratio of the payment amount to the client’s salary. If the amount of funds that will be paid monthly for a mortgage exceeds 40% of the borrower’s income, the bank may refuse to approve his application.

Those who have already received loan refusals are interested in what the percentage of mortgage approval is at Sberbank. The lender does not disclose exact figures to clients. According to experts, 7 out of 10 mortgage applications are approved within 24 hours after registration.

If the client has not provided all the documents, or there is an error in them, this may affect the speed of the decision on the mortgage loan. An incorrectly drawn up payment schedule is the reason why the borrower may receive a refusal from the bank. Therefore, it is recommended to focus on the deadline: it should be such that the client has a convenient payment amount. The average term for processing mortgage agreements is 15 years.

If desired, the borrower can repay the mortgage early, reducing the term or amount of payments. But when filing an application, you should not indicate a monthly payment that is too high, even if the payer has additional income to pay it off.

What to do after reviewing your application

Finally, the long-awaited positive response has been received. And the borrower immediately wonders what to do next.

You should remember one requirement of the bank - mortgage approval is valid for 60 days. This is the period during which the client must find the optimal property for himself, collect all the necessary documentation on it and submit it to the banking institution. It is worth considering that at this stage a lot of time will be spent on conducting an expert assessment of housing if it is purchased on the secondary market. This fact must be taken into account. You should ask in advance what requirements the bank imposes on the property. The further registration procedure depends on your efficiency and high-quality collection of documents.

Stages of review

These include:

Submission of a package of documents. It’s worth double-checking everything in advance and making sure it’s filled out correctly. The manager accepts them in a certain sequence, but may make a mistake. In this case, it is wise to have a printout of the list of required papers from the website and submit them in accordance with it.
Entering data into a special program. If you contacted the bank late in the evening or on the last working day of the week, the application will be submitted on the next working day.
Checking your credit history. This procedure takes no more than four hours. At the same time, not only you are subject to it, but also co-borrowers, as well as all persons indicated in the application form (you can find out who can become a co-borrower here). Next, the security service checks everyone for involvement in illegal operations.
Verification of the information you provided. Sberbank, as a rule, produces it manually. This includes verifying all telephone numbers provided and whether they belong to the individuals you provide.
Underwriting. The stage at which the bank’s possible risks are calculated when providing you with a loan. A decision is made on the maximum amount that can be provided based on your income.
Decision of the credit committee. Companies House usually meets twice a week. Its composition makes the final decision on mortgage applications.

At Sberbank, the Registration Chamber can consider applications within 10 days.

The processing time for an application depends on the speed at which all stages are completed. If there is a delay in any of them, the decision-making time increases.

What to do after receiving a positive response to the application?

If the bank’s response to issuing a mortgage is positive, then the transaction process will begin, which is divided into the following stages:

Drawing up an application for a mortgage and preparing documents (passport, work book, 2-NDFL certificate, etc.).
Receiving a positive response from the bank (2-10 days).
Search for housing you are interested in.
Drawing up documents on purchased housing for transfer to Sberbank.
Approval by Sberbank of the selected property (the procedure is carried out by an accredited organization).
Concluding a purchase and sale agreement.
Transfer of the initial payment.
Registration of encumbrance on housing (transfer of property as collateral).
Issuance of credit.

It is worth remembering that the duration of consideration of the application and registration is related to the peculiarities of the document preparation procedure. The average time for obtaining a mortgage takes about a month, if before submitting the application the future recipient of the loan did not find the housing of interest or the selected property was not approved by Sberbank.

List of documents

Regardless of the type of mortgage program, the list of basic securities is universal for each applicant:

passport or other personal identification document;
workplace data;
2-NDFL (must contain the salary level for the previous 6 months);
proof of availability of money for the entry fee.

Each authority allocates a certain amount of time for analysis, so the entire procedure takes from 2 to 14 days. It takes a particularly long time to check information in the BKI database. In addition, the availability of deposit accounts and real estate, which can act as collateral, is clarified.