How many times can you take out a mortgage for a home and which bank is better?

How many times you can take out a home mortgage depends on your specific circumstances. So, if you take out a mortgage yourself, then the number of loans is not limited. It all depends on financial capabilities. But purchasing housing with the help of the state is a one-time purchase. Let's figure out who can count on government support, as well as what to look for when lending.

Mortgage with state support

In order to provide the population with housing, the government has developed a mortgage program “Housing”, within which assistance is provided:

in covering the costs of paying the down payment;
social payment, through which the debt on the existing loan is repaid.
Measures to support families with two or more children are:
maternal capital;
the opportunity to obtain/refinance an existing loan at a preferential interest rate.

In addition, active military personnel are provided with participation in a special mortgage system, as a result of which the state fully pays for their housing.

How to get a mortgage alone?

The bank reviews the application within 1-10 days. Once approved, you will need to complete the following steps to finalize your mortgage:

Find the right property to buy. You can do this yourself or seek help from a real estate agency.
Evaluate the selected property. The assessment report is prepared within 3-10 days. It is recommended to order it from an appraisal company that has been accredited by the selected bank.
Agree on housing as collateral with the bank. Its employees will check the property for legal purity within 5-10 days.
Buy insurance policies and make a down payment on your mortgage. Funds must be credited to a specially opened account.
Agree with the seller on the date of the transaction, sign the mortgage agreement, as well as real estate documentation, for example, a purchase and sale agreement.
Register the transaction in the state register. To do this, you need to submit your loan documentation and mortgage to Rosreestr or MFC. The state registration procedure takes 5-10 days.
Provide the bank with an extract from the Unified State Register of Real Estate with a note indicating the transfer of ownership of the property.

Alfa Bank

from 6.5% rate per year

Amount: from 670 thousand to 20.6 million rubles.
Rate: 6.5 - 9.29%.
Duration: from one year to 30 years.
Age: 21 - 70 years.
Down payment: from 20%.

More details
Gazprombank

from 7.5% rate per year

Amount: from 500 thousand to 60 million rubles.
Rate: 7.5%.
Duration: from one year to 30 years.
Age: 20 - 65 years.
Down payment: from 10%.
Review of the application from 1 working day.

More details
Transcapitalbank

from 7.99% rate per year

Amount: from 300 thousand to 50 million rubles.
Rate: from 7.99%.
Duration: from one year to 25 years.
Age: from 21 to 75 years.
You can get a mortgage using one passport.
You can confirm your income with a bank certificate.

More details
Rosbank

from 7.39% rate per year

Amount: from 300 thousand rubles.
Rate: 7.39 - 11.14%.
Duration: from 3 to 25 years.
Age: from 20 to 64 years.
Down payment: from 20%.
You can attract 3 co-borrowers.

More details

Who is entitled to help?

Certain categories of citizens can count on government support when applying for a loan for an apartment under the federal Housing program:

Young family.
Citizens whom the state is required by law to provide housing:
persons affected by radiation (“Chernobyl Nuclear Power Plant”, “Mayak”);
displaced people from closed military cities and closed administrative territories.
forced migrants;
migrants from closing settlements in the Far North, and citizens who have worked there for at least 15 years.
Certain categories of persons:
young scientists;
other persons by decision of the President or the Government.

And now a little more about the conditions of mortgage lending using budget funds.

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If you have a mortgage loan for your home

How many times can one person take out a mortgage at the same time? In this situation, everything is more complicated: many Russians can hardly afford to pay off one large housing loan, and only a few have the opportunity to pay off two loans at once. Although there are no restrictions in the law , banks are reluctant to take risks associated with the client fulfilling debt obligations under two contracts at once.

To get a second mortgage, you must also meet banking requirements, and for clients with active loans they are even stricter, especially with regard to solvency. This indicator is analyzed not only by the level of income (official and additional), but also by the financial burden, which consists of all the client’s mandatory expenses: utility bills, mandatory deductions (taxes, alimony), as well as payments under the existing contract.

Payments on all loans should not “eat up” more than 40-60% of the budget (there is no specific rule, but this proportion is a general recommendation).

Applying for a mortgage for a second time may become available in the following situations:

The income of the main borrower increased: wages increased, additional sources appeared.
The client has entered into a legal marriage: a co-borrower automatically appears in the form of a spouse, and if he has a high income, then it is quite possible to get a second mortgage.
A remortgage is issued for commercial real estate that will be used to conduct business and make a profit.
An apartment purchased under the first mortgage is rented out: how much the owner receives for this is taken into account when analyzing the total income and increases the chances of approval.

So how many mortgages can one person take out? Formally, as much as you like, but in practice, not everyone is approved for a second loan if the first one is outstanding. The borrower is carefully checked, assessing his financial capabilities and specific situation. Also, the person himself must make an informed decision and think everything through.

What is important for providing state aid

The general condition for the allocation of budget funds for all categories of citizens is the need for housing.

Need criteria:

The citizen or a member of his family does not have a residential property in their ownership/social rent;
If there is a residential premises, then it must be less than the accounting norm, or in dilapidated or disrepair;
Living in the same apartment with a relative who has a serious illness that makes such proximity impossible;
Accommodation in a communal apartment, dormitory, or accommodation in a one-room apartment for two families (for judges, prosecutors, investigators, civil servants).

What area is the subsidy for?

To determine the living space a person needs to live, standard provision standards apply:

For one person – 33 sq. m.
For two – 42 sq. m.
For each subsequent person - 18 sq. m.

If mortgage benefits are related to official activities, then an additional area (15 sq. m.) is added to the standard area, to which higher ranks (colonel and above), as well as employees with an academic degree, are entitled.

For reference: participation in the state mortgage program does not mean that you cannot purchase larger housing. It’s just that the state will pay only for the square meters established by the standard, and the buyer pays for all the “surplus” out of his own pocket.

How many times can one person enter into a mortgage agreement?

In fact, the number of times that one specific person can enter into a targeted loan agreement is determined only by him - more precisely, by how much he can and is willing to pay under contractual obligations and not violate the terms of the current legislation. This means that every month he will have to repay part of the debt itself in the amount established by the bank, and also add money to his piggy bank as interest for the one-time provision of such a service.

Those who are interested in how many times in their life they can take out a mortgage should also take into account the fact that the collateral that is the subject of the agreement must be insured, as well as the life, health and some property rights of the borrower himself. We should not forget about penalties from banking organizations - these can be either ordinary additional penalties or confiscation of property.

Calculation of social benefits

The volume of the subsidy is determined as the average cost of 1 sq. m of housing, multiplied by the size of the provided living space (based on family composition). In some cases, additional area is added to the standard.

Depending on the service life, a multiplying factor is also applied to the overall calculation. Simply put, the longer the job lasts, the larger the subsidy will be.

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Providing financial support to a young family

Its essence is to provide a family with a social benefit for the purchase of housing. It is permissible to use funds to make a down payment on a mortgage, or to repay an existing loan.

The following can participate in the program:

Families with or without children who have Russian citizenship.
A family in which one spouse is not a citizen of our state.
Single-parent family (with one parent).

Conditions for participation in the program:

Age up to 35 years.
The need for housing.
Financial ability to pay for the rest of the housing (own savings or loan).

Payment amount:

30% of the cost of an apartment for a young family without children;
35% for families with children and for families with one parent.

The family is issued a special certificate indicating the right to receive funds. When making a down payment on a mortgage or repaying it with the help of a subsidy, this certificate is submitted to the bank. Thus, the credit institution will receive money from the budget directly.

What documents are needed?

When submitting an application, you will need a passport, SNILS, a copy of your work record book and a salary certificate. Men of military age must present a military ID. If you receive your salary on the card of the bank where the mortgage is issued, then it is not necessary to confirm your income and employment.

Additional income should also be confirmed by submitting a tax return or a certificate from your part-time job.

Once the application is approved, real estate documents will be required. If you are purchasing an apartment in a building under construction, then you need to submit to the bank a contract of equity participation in construction (DDU) and a package of documents for the developer (Charter, decision on the appointment of a manager, etc.). When purchasing an apartment from a developer who has been accredited by the bank of your choice, you only need to submit an agreement with him.

If you are purchasing an apartment on the secondary market, you need to prepare:

assessment report;
the seller's certificate of ownership of the property (if available);
a document providing the basis for the emergence of property rights of the seller, for example, a certificate of inheritance;
extract from the Unified State Register of Real Estate;
technical and cadastral passport;
an extract from the apartment (house) register.

Assistance to other persons within the framework of the state program

For other persons who receive support in purchasing housing, the following criteria exist:

The need for housing.
Classification into the category of beneficiaries (Chernobyl survivor, forced migrant).
The minimum service life is 10 years (military personnel, customs officers, rescuers, police, investigation, prosecutor's office, civil service), and for young scientists - 5 years of work experience.
For scientific workers, age is also important: candidate of sciences – no more than 35 years, doctor of sciences – 40.

Persons participating in the state program are paid the full cost of housing, according to the provision standards, based on family composition, plus the cost of additional space for those who have the right to count on it. For this purpose, participants are issued a housing certificate confirming their right to receive payments from the budget. This certificate can be used for a mortgage loan (down payment or loan repayment).

It is noteworthy that such a preferential mortgage for housing can be taken out for one person, it does not have to be a family.

How to take out two housing loans at the same time?

Before submitting an application for a second mortgage loan, the financial institution pays special attention to the solvency of its client .

To take out two housing loans at the same time, he must first have sufficient funds to make a down payment on the loan. Usually it is at least 10% of the cost of the purchased apartment. Some banks make mortgage offers without requiring a down payment. Is it possible to take out a loan without a down payment? Read here.
You also need to count on the ability to pay additional costs when applying for a loan. Such expenses include insurance of the purchased property, which, by the way, is mandatory. You may also need to insure your solvency or life.
The borrower provides the bank with a 2-NDFL certificate, on the basis of which the lender makes conclusions about whether the mortgage application should be approved or not.
Moreover, when considering the level of income, it is important that there is enough money not only to pay off the debt, but also for a normal existence. That is, expected expenses on food, children, and also on payment of existing obligations to banks are deducted from the total amount of profit. And, if after this the balance is at least 40% of the original amount, the bank will most likely give its approval.
The client's credit history is carefully studied. If there were any difficulties or hiccups with the payment of previous loans, you may not receive approval from the bank. Read about mortgages with bad credit history here.

A good client who evaluates his capabilities and is responsible for his obligations is always valued by banks.

If the borrower had no problems with loan repayments, payments were made on time, and when applying again, you can count on a lower interest rate and more favorable terms under the loan agreement.

Mortgage at 6%: myth or reality

Since 2020, upon the birth of a second child (as well as the 3rd, 4th, etc.), it is indeed possible to take out a mortgage loan taken on preferential terms or refinance it.

The following can take part in the program:

Families whose child was born from 01/01/2018 to 12/31/2022, if the mortgage is issued from 01/01/2018 to 12/31/2022. The interest rate for such a loan is 6%.
Families living in the Far East and planning to purchase housing in their district, for whom the addition occurred in the period from 01/01/2019 to 12/31/2022, if the loan was issued from 01/01/2019 to 12/31/2022. The permanent preferential rate is 5% per annum.

The conditions of this program are as follows:

The credit limit throughout the country is set at 6 million rubles, and for Moscow and St. Petersburg – 12 million rubles.
The program is valid from 01/01/2018 (from 01/01/2019 for residents of the Far East) to 12/31/2022. If a child is born between 07/01/2022 and 12/31/2022, you can take out a mortgage or apply for refinancing until 03/01/2023
Housing is purchased in a new building on the primary market. Citizens of the Far Eastern District have the opportunity to purchase a new home in a rural area.
Self-payment of the down payment (1/4 of the cost).
The benefit is valid only when taking out insurance (personal and housing).
The loan payment is annuity (fixed).

The point of the program is that the state will reimburse credit institutions for the shortfall in interest.

Please note that a mortgage under such a preferential program can be taken out several times, but within the duration of the program. It all depends on the financial situation of the family. If the first loan was quickly repaid, then parents can take advantage of the preferential mortgage a second time.

If you have a housing loan

It's much harder to get another home loan if you're already paying off your mortgage. And sometimes it happens that you did not have time to pay off one loan, but are forced to take out another to buy another home. This is extremely difficult to do, and for this you need to comply with some requirements:

the borrower’s income, together with the co-borrower, must allow him to pay monthly installments on all loans;
a mortgage is required to purchase commercial real estate that will generate income for the payer;
The first mortgage was issued for the purchase of real estate for the purpose of renting it out and making a profit.

The bank can individually consider any application from a client. In particular, families whose income level has increased or the borrower has a financially wealthy co-borrower have a chance to get a loan. That is, you can submit an application to the bank in any case, but the lender’s decision may depend on many factors.

Preferential mortgage for military personnel

The essence of this mechanism is the monthly accumulation of funds allocated by the state in the personal account of a contract soldier. Funds are transferred to the serviceman’s account until dismissal.

The allocated funds can be spent on a down payment and further planned debt repayment, or to cover an existing mortgage.

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You can use the funds in two ways:

Receiving the entire accumulated amount at once:
in case of dismissal for certain reasons (health status, disbandment of the garrison) after 10 years.
Purchasing an apartment using a targeted housing loan. Algorithm for providing a loan:
the accumulated amount goes towards the down payment;
the remaining amount is taken from the bank under the military mortgage lending program;
the monthly payment is repaid by the state (as long as the contract is valid, the serviceman himself will not have to pay anything).

There are no restrictions on the number of loans. The main thing is that you have enough savings in your account to purchase a home.

How many times in your life can you take out a mortgage?

If the previous mortgage debt is fully repaid, then there are no significant obstacles to taking out the next one. But when considering an applicant for a mortgage loan, special attention is paid to his age . He must not be older than 75 years at the time of the proposed repayment of the debt.

A client who wants to get a mortgage twice, or even three times, even has some advantages represented by the bank.

Firstly, if the previous loan is finished, then the borrower’s solvency increases, which means that the amount of the loan that can be approved also becomes higher.
Secondly, a successfully repaid mortgage becomes part of a person’s credit history, and when issuing a new loan, banks pay considerable attention to it.
And finally, real estate owned by the intended borrower is a kind of additional guarantee for the credit institution.

Taking out several mortgages in a short period of time suggests that, most likely, the previous loan has not yet been repaid.

Issuing a new loan if the previous one is unpaid is, in principle, possible. There are no quantity restrictions here. The main criterion is the financial viability of the client.

A person’s total income is taken into account , which includes not only salary, but also all kinds of government benefits, pensions, etc. Money from renting out housing that is still encumbered by a mortgage can also become a source of profit (we talked about removing the encumbrance here).

This opportunity cannot be used without the consent of the credit institution. Otherwise, if clients want to bypass the established order and the bank, in turn, becomes aware of this, it may put forward demands for early repayment of the loan debt.

Now you know how many times one person can take out a mortgage.

Which bank to choose

When choosing a bank, the borrower needs to pay attention to the terms of mortgage lending, such as:

Interest rate.
Payment structure according to schedule (stable or changing).
Commissions.
Conditions on insurance (personal, property).
Down payment amount.
Maximum loan term and limit.
Possibility of early repayment of the loan.

At the same time, the ultimate goal of all banks is to attract customers to obtain maximum profits. Therefore, advertising posters display tempting loan offers, indicating the minimum rate taking into account all possible discounts.

Which bank is better to get a mortgage from if you need to do this several times?

It is impossible to give a definite answer about the best provider of this type of service - the conditions of each organization are, to one degree or another, beneficial for one category of clients and completely unacceptable for another. According to experts, Sberbank LLC is the most popular in providing mortgages to residents of the Russian Federation. For those who are not citizens of the Russian Federation, the question of how many times they can take out a mortgage will be irrelevant - without the appropriate documents, it will be very difficult for them to reach at least a one-time agreement with the bank.

Bank loan offers

We present to your attention the conditions of non-preferential mortgage loans from popular banks.

Remember that the amount of loan payments depends on many factors:

availability of personal insurance;
receiving salary through the selected bank;
the possibility of documenting employment and income;
classification as citizens applying for state support;
purchasing a new building from a developer with whom the bank cooperates;
making a down payment in a larger amount than the specified minimum threshold;
high cost of purchased housing, etc.

Although all these conditions are not mandatory for granting a mortgage, without them the interest rate increases and, accordingly, the monthly payment becomes larger. More details about all interest charges must be clarified with the bank itself.

What to do if the bank refuses

If one bank refuses to provide a mortgage, you can contact another. Sometimes refusals are related to the credit policy of a particular bank.

But if you have been refused by several banks, you should take the following actions:

Find guarantors or co-borrowers. These could be close relatives, common-law spouses, etc.
Check your credit history. There may be errors in it that need to be corrected before accessing again.
Close some or all of your existing loans. Refusals may be associated with large debt loads.
Check the information provided in the application form. Sometimes a simple error in the employer's data, for example, in the telephone number or TIN, becomes the reason for the refusal.
Increase your down payment.

There is no point in submitting a new application immediately after receiving a refusal. The bank's negative decision is valid for 3 - 6 months. Only after this period has expired should you apply again.

Military mortgage

Since mortgage loans for military personnel are fully paid by the state, the loan amount is more important for them. Basically, banks are not ready to lend more than 2.5 million rubles for a military mortgage. But there are also exceptions.

Here are the top three for maximum military mortgage limits:

Bank Zenit. Provides two mortgage programs at 9.45% per annum:
both spouses are military - 6 million 925 thousand rubles.
Absolut Bank . Issues a mortgage in the amount of 3 million 075 thousand rubles at 10.6%.
Uralsib . The maximum amount is 2 million 914 thousand rubles at 10.9%.

Finally, I would like to draw your attention to the fact that the right to purchase housing on preferential terms with the help of the state can only be used once. Only ordinary borrowers and military personnel receiving savings contributions are not limited in their options. But in any case, the right to approve a loan application belongs to banks.

Bank requirements

It is possible to obtain 2 mortgages at the same time only if the potential candidate for approval of the application fully complies with all the requirements put forward by the bank. And although each financial organization has its own, general conditions for secondary lending are defined that apply to all companies:

The total income of the borrower and persons acting as co-borrowers must not only be stable, but also sufficient to regularly pay current installments on all loans a person has. This will need to be documented.
The borrowed funds must not only have a specific purpose, but also provide financial benefit to the borrower. A re-mortgage is possible when it is used for a commercial type of real estate with subsequent rental of housing. An alternative is that the first debt is taken out to purchase an apartment that is already rented.
Age restrictions - the applicant must be of legal age and able to work.
Mandatory official employment.
Having Russian citizenship.
Impeccable credit reputation.

Note! If the amount of payments on existing loans is more than 40% of the total family income, then a second mortgage may be denied.