Mortgage for apartments: conditions, features and requirements

Do they provide mortgages for apartments?

Although it is a little more difficult to obtain a mortgage for an apartment than for ordinary housing, it is quite possible (only at a higher percentage). Before a financial institution issues a loan for this item, the bank will verify the information:

• About the developer, the availability of all required permits, documents, coordination of the project of the facility being built with the relevant government agencies.
• Sometimes questions arise to the developer, which is why he built exactly such a premises on the allocated territory, which became the reason for the construction of apartments.
• The liquidity of the premises is assessed. It can be affected by the object itself, the materials used during construction, amenities, parking, location, and the presence of social facilities (kindergarten and school).

Advantages of buying an apartment

Home hotels are a profitable investment of your own savings. Their main advantage is the price. For a low cost, you can purchase full-fledged living space in a hotel-type house, sometimes even with concierge services. What you don't see when buying residential real estate. A similar set of apartments there would cost much more.

When buying an apartment, you won’t have to worry about how to get to work. Sometimes this type of real estate is sold in buildings that have the status of commercial facilities (that is, offices or large business centers).

The apartments will be a good option for a young family or creative people, since after purchasing their own home, the owners turn the free space into apartments or studios for permanent residence or other purposes.

Advantages of the apartments

Here are a few reasons why ordinary people prefer apartments instead of a regular apartment:

1. Architectural features. If strict requirements are established for apartments, then a flight of design ideas is possible in the apartments (several levels, floor-to-ceiling glazing, the presence of a terrace, lofts, studios, etc.).
2. Proximity to business centers. This is important for those who want to move closer to work. Often, apartments are sold in the business complex itself.
3. Apartments can be purchased under an agreement of shared participation in construction, as a result of which the rights of the shareholder will be protected.
4. New standards of service. If in an ordinary house the management organization is limited to only routine repairs, then in a luxury apart-complex you can count on extended services (cleaning service, 24-hour reception).
5. Relatively low price. Apartments come not only in premium class, but also in economy class. Their price is at least 15% lower compared to the cost of similar apartments.

Legal status of the apartments

Buyers are usually interested in what legal status such real estate acquires. Officially, such objects are not recognized as residential premises, but as commercial ones. But it is quite possible to register them as property. Experts on the acquisition of real estate are convinced: in the legislative framework of the Russian Federation there is no such type of residential premises as apartments. They are suitable only for temporary residence.

The question immediately arises: is it allowed to register in it after registering ownership of such real estate? According to the law, no, when there is a desire to have permanent registration. Only temporary is allowed. Because of this, apartments are more often purchased by those who already have their own home, where they are permanently registered.

No matter what kind of registration citizens receive (temporary or permanent), it guarantees them the same rights when receiving medical services for insurance, issuing a Taxpayer Identification Number (TIN), and placing children in institutions appropriate to their age. The only difference is the timing. With permanent registration everything is clear, but temporary registration, which is issued only for a period of up to 5 years, will have to be periodically extended.

Interest rates and basic requirements for borrowers

The average mortgage interest rate for such properties is the same as for apartments. Some credit institutions, when filling out the necessary paperwork, do not indicate separate programs for apartments and residential real estate at all. Standard requirements for borrowers:

1. Having a stable income;
2. No salary arrears on the part of the enterprise;
3. Age range from 18 to 65 years.

Look at the same topic: What is a social mortgage under the President of the Republic of Tajikistan and how to get it?

To obtain a mortgage for an apartment, it is possible to attract guarantors or co-borrowers. It is also allowed to use available property (other real estate) as collateral.

Terms of purchase from Sberbank

Sberbank issues mortgages for apartments as part of programs for the purchase of housing under construction or finished housing. For each of them, you can only buy real estate in a new building at different stages of construction.

Sberbank issues loans for the purchase of apartments, both from partner developers and from companies not legally connected with it. In the second case, the care with which Sberbank checks real estate sellers is especially important.

Registration of a housing loan for the purchase of apartments is carried out on standard conditions:

1. loan term – up to 30 years;
2. loan size – up to 10 million rubles;
3. down payment – ​​from 20% of the cost;
4. type of property – housing under construction or finished.

The rate varies from 11.5 to 13% per annum and depends on several factors:

• type of living space – when purchasing finished real estate, interest rates increase;
• availability of a life and health insurance contract - in its absence, the rate increases by 1%;
• loan term – the longer the term of the loan agreement, the higher the overpayment.

Also, the rate may increase or decrease, depending on the following factors:

1. life and health insurance (the absence of it adds 1%);
2. availability of a Sberbank salary card (reduces by 0.3%);
3. confirmation of income, both in form 2-NDFL and in the bank’s internal form (reduces by 0.5%);
4. using the DomClick service (reduces by 0.3%);
5. electronic transaction registration (reduces by 0.1%).

Thus, borrowers have a good opportunity to improve credit conditions when contacting a major financial institution.

Note! Among all the major lenders, Sberbank was among the last to include apartments in the list of possible types of real estate for purchase with a mortgage.

Features of apartment mortgages

Due to the fact that apartments are not officially recognized as residential real estate, it is impossible to obtain permanent registration in them, and utility bills will be higher, as will the property tax rate.

As statistics show, on average the cost of such properties in Moscow is lower when compared with living space in new buildings: for 40 sq. m of apartments will have to pay 7.08 million rubles, and for a one-room apartment of the same area - 8,070,000.

Bank offers

Starting in the fall of 2020, Sberbank began implementing a lending program for the purchase of apartments offered on the secondary market. The announced payment percentage is the lowest in this market - from 8.7%. Let's consider all similar offers from creditor banks.

Sberbank

The mortgage rate for the purchase of apartments is 8.7% with a down payment of 15%. Moreover, the lender does not make any demands regarding the wear and tear of the object, the number of storeys of the building, area and cost. Loans are issued under the “Ready Housing” program. The minimum loan amount is 300 thousand rubles. for up to 3 years. The interest rate depends on the borrower's income, the presence of a life insurance policy and other factors.

Let's look at what tools can be used to reduce mortgage interest rates:

• – 1% when taking out a life insurance policy;
• – 0.5% for clients whose salary is transferred to a Sberbank card;
• – 0.5%, subject to confirmation of income with a 2-NDFL certificate or a special bank form;
• – 0.3% when purchasing housing through DomClick;
• – 0.1% subject to electronic registration of the agreement.

Requirements for the borrower:

1. Age ranges from 21 to 72 years;
2. Work experience of at least six months at the current place of work, as well as at least 12 months of total work experience over several years.

The requirements that the bank sets for the client when purchasing premises for 3,000,000 rubles on a 15-year mortgage are as follows:

• Initial payment - at least 500,000 rubles;
• Monthly installments of debt amounts - 28,259 rubles;
• The interest rate without additional services is 10.9%.

Look at the same topic: What documents are needed to obtain a mortgage for a secondary home? List of required documents [y] year

Zenith

You can get a mortgage for all types of real estate, including apartments, from this bank at a rate of 10.2%. The maximum loan amount is up to 20,000,000 rubles, the minimum loan is about 500,000 for the capital, in other regions - 300,000 rubles. The mortgage term is from 1 to 30 years. The amount that must be deposited immediately is from 15%.

Upon payment of 35% of the cost, the client may receive an offer to become a participant in the “Mortgage on two documents” program. It involves receiving a loan of up to 6,000,000 rubles or a little more, depending on the region of issue. Duration: up to 20 years. The rate is 10.1% or more. To apply for a loan, you need a national passport and another personal document. Conditions for registration:

• 3,000,000 rub. on purchasing with a mortgage;
• Duration - up to 15 years;
• Initial payment - 450,000 rubles;
• The rate is 10.5%.

Rosbank

Loans for apartments are available here at a rate of 8.25% and a down payment of 20%. It is issued for 25 years regardless of the borrower’s citizenship. There are some requirements for secondary market apartments:

1. They must be structurally separate, connected to central communications;
2. The room itself must be located only above ground level;
3. Have registered ownership;
4. The building should not be worn out by more than 50% and must have at least 2 floors;
5. Apartments cannot be located in former sanatoriums, boarding houses, or hotels.

The loan is issued in the amount of up to 3,000,000 rubles. for 15 years. Initial payment - 600,000.

DeltaCredit

Since this is a subsidiary of Rosbank, its lending conditions are almost similar. Basic requirements for borrowers:

Absolut Bank

This credit institution implements the “Standard” program. The loan amount should not exceed 70% of the cost of the apartment. Sometimes the bank allows you to deposit 20% at once, which depends only on the citizen’s income. The loan term is 30 years, the rate is from 9.49%. The allocated loan range is 300,000–20,000,000 rubles. The requirements for the client are standard, as in other banks.

Tinkoff

Tinkoff does not issue mortgages for apartments, but through it you can send an application to partner lending institutions. The client provides a package of documents to Tinkoff, and there the organization’s employees select favorable conditions among their partners.

Interest rate - from 8%. This, according to Tinkoff, is lower than when contacting banks directly. The procedure will require standard documents. The mortgage is issued for a period of up to 25 years, the initial payment is not lower than 15%, the maximum amount is 100,000,000 rubles.

To apply for a mortgage to purchase an apartment, you need to have a regular income, an amount to make a down payment, and a package of necessary papers.

Interest rates on Sberbank mortgages for apartments in 2020

The key indicator that the applicant pays attention to is the interest rate. Its size directly affects the amount of overpayment. Current mortgage rates for apartments are shown in the following table.

Apartments in finished houses:

Sberbank mortgage for apartments in buildings under construction:

The indicated rates apply to holders of salary and pension cards of Sberbank of Moscow and regions that have agreed to electronic registration of the transaction.

The interest rate on an apartment mortgage may change taking into account the following parameters:

• +0.2% for clients who have made a minimum down payment (no more than 20%);
• +1% if the borrower does not have a personal insurance policy;
• +0.3% for clients who do not receive salaries from Sberbank;
• +0.3% in the absence of documentary evidence of income (possible subject to an advance payment of more than 50%);
• +0.1% if you refuse to register a transaction electronically.

Thus, Sberbank has established minimum tariffs for its salary earners. The client must decide the issue with insurance - whether to pay for it or not. You need to compare the cost of the policy with the amount of overpayment (1% premium). If the loan amount is small and will be repaid soon, then you can refuse insurance. Otherwise, it is better to pay for the policy. The borrower will also be more protected in case of health problems.