What types of income are taken into account when calculating income for applying for a mortgage?

How much can it take to repay the loan?

Everything is heading towards the fact that soon a norm will be introduced at the legislative level according to which banks will not issue loans if their repayment takes more than 50% of the borrower’s income.

Moreover, we are talking not only about the loan for which the application is submitted. If a person has some other loan open at the same time, it is included in the calculation. In total, the borrower cannot give banks more than half of his salary. The norm has not yet been officially adopted, but lenders are already actively using it.

For example, if you receive 30,000 rubles, the mortgage payment cannot be more than 15,000. And this is provided that you have no other debt obligations.

How does a bank determine the maximum mortgage amount?

Traditionally, mortgage loans in Russia are issued with the condition of providing a down payment. This term refers to the amount of the borrower’s own cash savings, which he contributes to pay for the cost of square meters. Depending on the mortgage lending program and bank policy, down payment requirements may vary. For example, some banks have a minimum down payment of 10% of the value of the purchased property. But such a threshold is most often available only for special categories of clients (for example, for those receiving a salary from a bank or employees of the public sector, etc.).

Still, the more common option is when the bank requires an initial payment of 15-20% of the stated price. Such a requirement is often valid only if space is purchased in apartment buildings. For individual residential buildings (cottages, townhouses, unfinished houses), the down payment can be from 30% of the cost.

In this case, the amount of the down payment as a percentage is calculated according to the following parameters:

1. Market value of housing. Independent appraisal organizations determine the actual value of real estate. Based on the prices of similar objects and calculated values, appraisers calculate the final value. Accordingly, the loan amount will be determined as the difference between this value and the amount of the down payment. Why do an apartment appraisal with a mortgage?
2. Cost according to the purchase and sale agreement. This indicator is declared by the parties to the transaction themselves - the buyer and the seller. It is also indicated in the agreement on the transfer of ownership. This value is also taken into account by the bank to calculate the maximum possible loan amount.

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For clarity, let’s look at an example:

• the cost of the purchased housing under the contract is 3 million rubles;
• market value of real estate (in the appraisal report) – 3.2 million rubles;
• The minimum down payment stated by the bank is 20%.

Accordingly, to obtain a loan, the borrower must provide his own funds of at least 600,000 rubles (3 million * 0.2), since the market value is higher than the value in the purchase and sale agreement.

Attention! If the price in the sales contract is higher than in the appraisal report, the buyer will be required to increase the amount of the down payment. The bank will issue a mortgage in the amount of 80% of the market value indicated in the report.

How much should your salary be to get a mortgage?

It is impossible to give a specific number. A lot depends on what and where you plan to buy. The most expensive real estate is in Moscow, St. Petersburg and Sochi. If you want to buy something there, your income level must be decent.

If we are talking about a regional city, especially its outskirts or region, then you can get a mortgage even if you have a low income.

It is better to calculate based on exactly how much you receive. For example, let’s take Sberbank; after all, this is the bank that most mortgage borrowers choose. We will take into account an ordinary borrower who is not a salary client of Sber.

To apply for a mortgage, you must have funds for a down payment - at least 15% of the property price.

The base interest rate in Sberbank is 9.5% per annum (information for the third quarter of 2020). If the borrower makes a down payment of no more than 20%, the rate increases by 0.2 points. If the client is not a salary client, then by another 0.5 points. As a result, our potential borrower will obtain a mortgage from Sberbank at a minimum interest rate of 10.2% per annum (if he refuses personal insurance, it will increase by another 1%).

What other criteria are needed for a mortgage?

In addition to the total family income minus mandatory payments, when considering a mortgage application, the following are taken into account:

• whether the potential borrower has other loans (if any, the amount of the monthly payment is also deducted from the earnings taken into account);
• the applicant’s right to preferential lending conditions (for example, young families after the birth of their second and third child have the right to enjoy a preferential interest rate of 6% for 3 and 5 years, respectively);
• registration by the payer of a life insurance policy and collateral (when purchased from Sberbank, the interest rate is reduced by 1%);
• the age of the citizen (it must be from 21 years old at the time of confirmation of the mortgage and up to 75 years old at the time of its full repayment);
• work experience (total experience over 5 years must be at least 1 year, at the current place of work - at least 6 months);
• availability of maternity capital (it can be accepted as part of the down payment, which will result in a reduction in the required loan amount and the amount of overpayment for its use);
• the specifics of professional activity (military loans are offered for a period of up to 20 years and in an amount of up to 2.3 million rubles);
• the type of housing for which a mortgage is taken (when participating in shared construction, which is carried out by partner organizations of Sberbank, the interest rate is 2 points lower, and when purchasing a country house, the initial payment increases to 25%).

In addition, when considering an application for a mortgage, like any other loan, the bank analyzes the credit history and has the right to refuse unscrupulous payers even if they have high earnings.

Video about Sberbank credit cards:

Making calculations

So, a potential borrower can apply for a mortgage at Sberbank at 10.5% per annum (that’s what the mortgage calculator indicates). How much can he expect if he receives different wages?

In large cities, housing costs are traditionally higher than in small ones. But salaries in Moscow or St. Petersburg are also higher

• if the borrower’s net income is 20,000 rubles monthly. If you have such a low income, the loan amount may not exceed 850,000. For a period of 15 years, the monthly payment will be 9,400 rubles. If you choose a term of 20 years, then the bank may consider the possibility of issuing up to 970,000 rubles, the payment will be about 9,800 monthly;
• salary - 30,000 rubles. In this case, the possible mortgage amount increases. If you choose a term of 15 years, then you can borrow up to 1,300,000 rubles, the monthly payment will be approximately 14,100. If you set the term to 20 years, then you can borrow about 1,500,000 rubles, the payment will be approximately 15,000 rubles. monthly;
• salary - 40,000 rubles. In this case, by choosing a loan term of 15 years, you can expect to receive up to 1.75 million rubles with a payment of 19,800 rubles. If you choose a 20-year term, then you can borrow up to 1.95 million with a payment of 19,500;
• income - 50,000 rubles. In this case, for 15 years you can take up to 2.25 million, the payment will be approximately 24,900. If with such income you choose a period of 20 years, then the loan can take up to 2.5 million rubles with a payment of 25,000 every month ;
• income - 70,000 rubles. At this level of income, it is already realistic to count on a housing loan amount of 3.15 million rubles. For a period of 15 years, the payment will be 34,800 rubles. If you choose a period of 20 years, then the amount increases to 3.5 million with a payment of 35,000;
• income - 100,000 rubles. If you receive that much, the bank will easily give you a loan of up to 4.5 million rubles; you will need to pay 49,800 rubles monthly. for a period of 15 years. If you choose a period of 20 years, all 5,000,000 rubles can be used on credit, the payment will be about 50,000.

Please note that the possible amount is indicated taking into account that the client will have a 15% down payment. That is, if a loan can take out an amount of 5,000,000, then taking into account the borrower’s personal funds, he can buy an apartment for 5,750,000 rubles.

The calculations are approximate, carried out with the condition that the borrower will give the banks no more than 50% of the income. In addition, he has no dependents or other debt obligations.

How to verify your income

Basic income in the form of salary is confirmed by a certificate of form 2-NDFL for 6 months. Applicants who have been employed at their last place of employment for less than 6 months will be denied a loan. The profit of an individual entrepreneur is taken into account by the bank on the basis of a tax return.

Borrowers who cannot provide the above certificate have the right to fill out a document according to the bank’s form. This applies to citizens working in organizations that are prohibited from issuing documents on the amount of earnings in order to maintain confidentiality (for example, state security structures), and those who work unofficially, receive salaries in envelopes, etc. In this case, a loan is offered for an amount of no more than 50% of the cost of the purchased housing (if there is a 2-NDFL form - no more than 85%).

Social payments are confirmed by a certificate from the body that accrues them, for example, the Pension Fund.

If the mortgage is taken out by a family

We figured out what the official salary should be to get a mortgage. But the above calculations are relevant for a borrower who takes out a mortgage individually. If there is an officially registered marriage, then the loan will be taken out not by one person, but by a family. All property and debt obligations are divided equally between the spouses.

In this situation, consider the following points:

• the income of the spouses will be summed up. That is, if together they receive 120,000 rubles, this amount of income will be taken into account by the bank;
• the second spouse does not have to work. If the wife is completely dependent on her husband, the bank will take this fact into account and reduce the possible amount of issue;
• if the wife receives child care benefits or has another source of income, this income will be taken into account in the consideration. Likewise, if one of the spouses receives a pension. The bank will take into account any sources of income;
• If there are children in the family, the costs of children will be taken into account when assessing the family's solvency. Usually we are talking about the subsistence level, the average in Russia is 10,000 rubles per child.

At the same time, the income of other family members is also taken into account, if any.
If the income is above average, exceeds 50,000 rubles, then the presence of one child will not particularly affect the level of solvency of the borrower, he will still be able to get a mortgage with a payment of 25,000. But if There are more children, then with such a salary the solvency will be less.

If the salary is more than 80,000 rubles, then even having three children will allow you to take out a housing loan with a monthly payment of 40,000. But if we are talking about a man who is married and his wife has no income, then this level of solvency will decrease.

All figures are indicated taking into account the fact that the borrower or family has no more loans.

Options for solving the problem

Let us consider in a little more detail what ways there are to solve the question of how to get a mortgage with a small official salary.

Bank form

To get a mortgage with a small official salary, you need to know a few nuances. The borrower provides the bank with a certificate of monthly income. It should contain the following information:

1. A person must work in one company for at least 6 months in a specific position.
2. Monthly income must cover the amount of monthly contributions.
3. You must provide information to verify information by the security service.
4. The certificate must contain the seal and signature of the boss.
5. The act specifies the bank branch for which the document is being made.

The report for creditors shows the borrower's real income if part of the payment is received in an envelope. Often bosses refuse to issue such documents. The bank can submit information to the tax office, then the employer will have difficulties with the law. The bank does not provide such information anywhere.

Everyone realizes that a considerable half of small businesses operate under a gray scheme. To take into account the employee’s income in such companies, banks prepare specific certificates.

Additional income

Such a problem as taking out a mortgage if the official salary is small is easily solved in cases where, in addition to the official salary certificate, the borrower has the opportunity to provide documentation indicating that he has sufficient additional income from other sources:

• We will provide a 2-NDFL certificate confirming the availability of additional income.
• By requesting from the PFRF an extract on monthly pension payments.
• Persons receiving scholarship payments can confirm them with an extract from the accounting department of the educational institution.
• A copy of the lease agreement for other real estate or vehicle will confirm the amount of monthly income.
• Relevant certificates about incoming social benefits, alimony, maternity leave and other income will also be taken into account by the bank when determining the borrower's monthly income.
• Part-time income.

Important point! Sberbank does not require documentary evidence of additional income, so you can safely indicate it in the application form, but you should understand that when calling the bank, you must explain its origin.

Co-borrowers and guarantors

If the primary borrower's salary is not large enough to pay the monthly mortgage payment, he may use co-borrowers or guarantors for the mortgage. A certifying set of documents must be collected for these persons, as well as for the main borrower, and the total income of both will be taken into account to determine the maximum possible amount for issuing a mortgage loan.

If a close family member who has a high salary acts as a co-borrower, it is preferable to take out a mortgage loan for him, since people with greater solvency are more willing to give mortgages and other loans.

For guarantee, you can involve not only an individual, but also an employing organization, for example. Sberbank has a practice where, in order to obtain a mortgage for housing under construction, a guarantee is issued exclusively until the object is put into operation, and not for the entire loan term. Co-borrowers may be more willing to agree to such conditions, since they have virtually no risk that the title borrower will not cope with its obligations.

Down payment

A mortgage is issued with a salary that is gray or insufficient to repay monthly payments also in cases where the borrower has his own savings to increase the size of the initial contribution.

A mandatory initial deposit of 10-20% of the requested amount is a condition of the bank for obtaining a loan, but they will give a mortgage much more willingly if the funds exceed the established percentage. In a number of special programs of Sberbank, for example, there is even a condition that the first payment in the absence of a salary certificate must be at least 50% of the loan amount.

How can a borrower increase the down payment if the officially received salary is small to pay the monthly payment:

• Using your own accumulated funds;
• Having applied for a consumer loan in this or another banking institution, you can apply for both loans in different institutions serviced by different credit bureaus, or request loans at the same time, so that additional costs for a consumer loan are not reflected in the borrower’s credit history when he applies for a mortgage and, accordingly, so that the mortgage was not reflected when reviewing the credit history at the bank where the consumer loan was issued;
• Ask for a loan from close relatives and friends - quite often this can be done for a long period of time at a much lower interest rate than at a banking institution;
• By using the maternal (family) capital provided after the birth of the second child, one of the purposes of which is to improve family living conditions;
• Become a participant in a military lending program or provide housing for public sector employees, large families or low-income families on a waiting list for improved living conditions.

Program for 2 documents

Almost all banking organizations provide a mortgage lending program to the population based on two documents. A borrower who provides the bank with only a passport and a second identification document, for example, a valid international passport or a green SNILS pension certificate, can take out a mortgage with a small salary. At the same time, you can write any salary in the questionnaire, the main thing is that this salary is confirmed at work and that it is approximately “in the market” in the region.

However, this lending also has some pitfalls:

• Banks can provide a mortgage based on two documents provided at a higher rate than the current base interest rate;
• The down payment on a mortgage with a small salary can be increased to 40-50% of the requested amount;
• Banks are very picky about credit history.

If the borrower does not have the opportunity to use other methods of confirming or increasing income, this program should be used last, since with an increased interest rate, the size of the monthly payment also increases; the borrower simply may not be able to pay the installment if the mortgage was given exactly according to "Two Documents" program.

Purchasing documents

If the borrower has a small salary, then you can buy documents proving work activity and earnings. Now there are many advertisements on the market that cost 10,000 rubles. can provide all the necessary documents required to obtain a mortgage.

This option of how to take out a loan with a small official salary is dangerous and has the following pitfalls:

1. The bank can control the certificate issued by 2-NDFL.
2. The organization can easily identify a fake.
3. The bank's security service usually calls the employer to prove the borrower's employment. Or a request is made to the Pension Fund and the tax authority. When document forgery is detected, the client is blacklisted.
4. The employer calls several times: the first time when the borrower is checked, and the second time before issuing money. Therefore, the risk of mortgage refusal increases.

Citizens with low wages can get a mortgage if they carefully study the lending conditions. You need to evaluate in advance the advantages and disadvantages of the proposed benefits and conditions, or save up a good down payment.

Social mortgage lending programs

You can take out a loan with a small salary with almost 100% approval if the client participates in one of the social mortgage lending programs:

• Improving living conditions;
• Mortgage for young families;
• Loans for large families;
• Other programs.

Everything is individual

It is impossible to say exactly how much the salary should be for a mortgage; each bank approaches each client individually. But you need to understand that if you receive 20,000 a month and at the same time have a child to support, the bank is unlikely to give approval.

Banks look at the situation realistically and, given the minimum wage, most likely will not approve a mortgage

The balance of funds of the borrower or family after repayment of the mortgage and other obligatory payments is always taken into account. The remaining money should be enough to live on; at a minimum, there should be a living wage for each family member.

about the author

Irina Rusanova - higher education at the International East European University in the direction of "Banking". Graduated with honors from the Russian Economic Institute named after G.V. Plekhanov with a major in Finance and Credit. Ten years of experience in leading Russian banks: Alfa-Bank, Renaissance Credit, Home Credit Bank, Delta Credit, ATB, Svyaznoy (closed). He is an analyst and expert of the Brobank service on banking and financial stability. [email protected]

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What does income include and what is confirmed?

Banks take into account regular income to obtain a mortgage, including:

• salary;
• pension;
• profit from business activities;
• income from deposits, securities;
• income from rental property;
• other regular receipts.

Documents that the applicant provides to confirm the declared income:

• – the most preferred form, indicates official earnings, as well as a certain level of stability of the employer;
• income certificate in the form of a bank - the document contains the information necessary to assess the applicant’s solvency, certified by the seal of the organization and the signature of the manager or chief accountant;
• a certificate from the employer according to its form - issued if for some reason it is not possible to fill it out according to the bank’s model (not enough information, bureaucratic difficulties, etc.), certified by the signature of the manager or accountant and seal;
• a certificate from the pension authority about the amount of pension;
• – when independently reporting income (from leasing property, from providing services and other activities for which you must independently report to the tax service by law);
• contracts guaranteeing the receipt of income;
• bank account statements.

Important to know: Validity period for mortgage certificates

Mortgage according to bank certificate

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Author of the article Irina Rusanova

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