What is a mortgage definition. What is a mortgage and how to get one? Documents, down payment, interest, repayment of a mortgage loan. The essence of mortgage loans

Any person who had to buy an apartment without having enough money in his pocket knows what a mortgage on housing is - long-term targeted lending for the purchase of real estate. The main condition of the loan is the registration of collateral in the form of land, houses, apartments. This gives a chance to buy housing for those who do not have savings, and low-income and socially unprotected citizens can even count on state support programs.

What is a mortgage loan

Loans secured by property began to be practiced by the ancient Greeks, who introduced the name "mortgage lending" into everyday life. Now the mortgage is a form bank lending providing a loan for the purchase of real estate. A distinctive feature of this type of lending is the mandatory registration of collateral.

The legal basis for the functioning of the mortgage lending system for housing is fixed in the relevant laws. Thanks to the regulation of the issue at the legislative level, today mortgages are beneficial and profitable for Russian citizens. affordable opportunity improve their living conditions, and for creditors - a way to guarantee the return of loans and interest on them.

In order to understand what a mortgage is and how it works, you should familiarize yourself with its distinctive features and characteristics. The essence of the mortgage is as follows:

• Special purpose. The loan is allocated for the purchase of residential real estate and cannot be spent on other purposes.
• Publicity. Registration of housing as a pledge is fixed by the registering authorities.
• The pledged property remains the property of the debtor. An apartment issued on credit can be rented out, sold (along with an encumbrance), redevelopment if it is prescribed in the terms of the contract.

The provision of a loan for housing lending is characterized by the exclusive right of the lender to dispose of the property transferred under the contract at its own discretion if the loan or interest is not paid by the borrower. The Bank has the right to issue mortgaged property to the auction and at the expense of the received funds to extinguish the debt formed as a result of non-payment. In addition, mortgage loans have the following characteristics:

• predominantly long-term in nature (the loan term is from 15 to 30 years, short-term loans for a period of 3-5 years are not very popular due to the high risk factor for both the borrower and the lender);
• low interest (compared to other types of lending);
• mandatory down payment (which can range from 10 to 40% of the cost of housing).

To whom they provide

The loan is available to able-bodied persons who have Russian citizenship who have reached the age of eighteen. The chances of a positive decision regarding the possibility of issuing a loan are higher, the greater the amount of current monthly income, and the lower, the more expensive the housing planned for purchase. Availability of existing financial obligations also negatively affects the consideration of the possibility of issuing a loan.

To reduce the risk of non-repayment of the loan amount, banks may ask for the details of guarantors who, in the event of the borrower's insolvency, will be able to ensure payment of the established payments. The advantage when applying to a bank for a mortgage is given to owners of their own housing, if they want to purchase a more expensive one in return.

Types of mortgage

Classification mortgage loans is carried out on the basis of parameters that are significant for the lender, which are the basis for the development of banking programs. These signs may be:

• purpose of lending;
• real estate object;
• type of creditor;
• type of borrower;
• refinancing method.

By type of collateral

Types of mortgages, based on the type of collateral and the method of acquisition, are:

• for newly acquired housing;
• on real estate owned by the borrower.

For all types of collateral, its condition matters. A banking institution is unlikely to issue a loan if real estate is offered as security, which is:

• emergency;
• dilapidated;
• to be demolished;
• requiring urgent (not planned) overhaul.

By type of housing

As banking statistics show, loans are issued mainly for the purchase of typical residential real estate owned by someone (secondary market). In addition to this option, there are the following types of residential real estate, for the purchase of which a mortgage can be issued:

• in the primary market. This category includes apartments that have not yet been put into operation, for which there is no ownership right.
• On the secondary market. Resale housing is one that is owned and offered for sale.
• For building your own home. The main condition for obtaining a loan is the availability of land ownership.
• For a room in an apartment. You will need to provide an official refusal of other owners to purchase.
• For cottages, dachas, country houses, townhouses. Loans for the purchase of such facilities are issued by banks on individual terms, developed jointly with developers.

Features of lending

Each type of issuance of mortgage loans is characterized by specific features that are predetermined by the risk of default. When considering the possibility of financing the purchase of housing, the bank starts from how quickly and how profitably it will be possible to sell the collateral property in the event of default on contractual obligations by the borrower. Payment for bank services, interest rates, deposit down payment serve as guarantees for timely payment by the borrower of due contributions, and their amount is determined based on risk criteria.

For military personnel

To answer the question of what a mortgage on housing for military personnel is, one should refer to the state program designed to improve the living conditions of Russian citizens who have dedicated their lives to defending the country. State support for contract military personnel is carried out on the basis of the norms of the current legislation. Registration of a military mortgage is carried out taking into account the contributions accumulated during the service. In order to become a member of this program, you must:

1. Serve at least 3 years under the contract.

2. Write a report on inclusion in the register of program participants.

3. Having received the participant's certificate, apply to the bank in order to apply for a loan.

4. Remain in the service until the expiration of the contract (upon dismissal, you will have to repay the debt on a general basis).

Social

One of the areas of credit programs is social mortgage, which allows any Russian citizen to purchase housing on preferential terms. To participate in the program, it is necessary to prove the need to improve living conditions and register for housing. The most popular types of benefits are:

• partial compensation for the cost of housing;
• the allocation of subsidies to pay off part of the interest on the mortgage;
• providing funds for making an initial contribution;
• reduced rate for the loan.

A mortgage loan for housing for young families can be compensated by the state in the amount of 35 to 40% of the cost of housing. Conditions:

• age restrictions (up to 35 years);
• all family members must have Russian citizenship;
• confirmation of unsatisfactory living conditions;
• solvency of family members;
• restrictions on the area of ​​housing (no more than 18 sq.m. per person).

Young parents have the right to use maternity capital to pay for the initial mortgage installment or interest on a home loan. Matkapital cannot be directed to repay the amount of fines, penalties, other penalties and commissions, stipulated by the agreement loan. This type of state subsidy can be directed to the early repayment of the principal amount of the debt.

With government support

Some Russian banks(VTB, Sberbank, TransKapitalBank, Gazprombank) together with the Agency for Housing Mortgage Lending (AHML) support the social mortgage program, i.e. state program aimed at providing affordable housing for all segments of the population. State support consists in providing loans on favorable terms. Differences of a mortgage housing loan under the state support program from the standard one are as follows:

• absence of bank commissions;
• limiting the amount of the loan;
• housing must be in a new building;
• the absence of a condition for compulsory life insurance of the borrower;
• down payment 15-20%;
• legal spouses must be co-borrowers.

Bank requirements for the borrower

In order to purchase housing on credit, a potential borrower must meet the following requirements, the non-compliance of which is the reason for refusal:

• the minimum age is 18;
• the maximum age at the end of the contract is 75 years;
• Russian citizenship;
• place of work in Russia;
• must have proven sources of income;
• total work experience of at least 1 year;
• continuous work experience at the last place of work for more than 3 months;

Conditions

Before proceeding to the process of obtaining a mortgage, you should study the basic parameters of the transaction. Important conditions for a mortgage include:

• credit currency (rubles, dollars, euros);
• the amount of annual interest;
• bank commission;
• the need for insurance;
• debt repayment period;
• frequency of loan repayment;
• penalties for delay.

Interest rates

Banks issue mortgage loans on terms from 9 to 11.5 percent per annum. For the convenience of borrowers, calculators are placed on the websites, with the help of which you can independently calculate the amount of the monthly payment. The conditions for issuing funds for the purchase of housing may include the following repayment schemes:

1. Fixed rate - unchanged throughout the entire term of the contract.

2. Increasing payments - the rate remains unchanged, but the mandatory payments increase.

3. Variable rate (floating) - tied to market indices, can change every 3 or 6 months.

4. Combined rate - fixed for a certain period of time (3-5 years).

Amount and terms

In order to purchase housing on a mortgage, it should be understood that the loan amount may be limited. The following factors influence the loan amount:

• monthly income;
• loan terms;
• the size of the down payment;
• the cost of a home to be purchased.

The term for which it is possible to take a loan depends on the ability to pay monthly payments not exceeding 40-45% of income (the amount of income minus existing liabilities). The repayment term is chosen by the borrower independently in agreement with the bank, while you should calculate your financial opportunities to avoid late payment.

Risk insurance

Making a transaction involves mandatory insurance of collateral due to the fact that the concept of a mortgage is associated with high risks, both for the lender and for the borrower. When issuing to the court for an extended period, the lender must be sure that in the event of damage or destruction of the property, the borrower will fulfill his contractual obligations. Insurance Company upon the onset insured event incurs compensation for damage caused to mortgaged housing, without burdening the debtor of the bank with additional costs.

Possibility of early repayment

Individual conditions of the loan agreement when applying for a mortgage may provide for the possibility early repayment, which is carried out either in parts or at a time (the entire debt is closed in one amount). The condition for early repayment is the personal deposit of funds by the debtor to the cash desk of the bank (any person can make a regular payment).

How to choose a mortgage program

Before you take out a mortgage, you should choose the right program. The criteria for this question are:

• The bank offering the program. Having a positive experience and a good reputation will be a plus.
• The amount of the minimum down payment. Depends on the availability of own capital.
• Interest rate. At a lower rate, the amount of the overpayment is reduced.
• Debt repayment period. You should choose based on real financial possibilities.
• Repayment frequency and payment amounts. The main obligation of the payer is the timely making of payments, failure to comply with this condition is punishable by a fine.

Documents

Loans are provided by the bank after considering the application of a potential borrower and the required documents. At the stage of application, there is no need to provide the entire package of documents. To consider the possibility of issuing targeted loans, the borrower submits an application of the established form and a questionnaire. After checking the specified data, the procedure for processing documents and collecting certificates begins.

When applying

The list of securities required by banks for consideration of the application is as follows:

• identity card (original passport);
• certificate of pension insurance;
• a military ID or a certificate stating that the person is not subject to conscription;
• a copy of the work book certified by the employer or the owner of the enterprise;
• certificate of the amount of income (salary) received during work at this place.
• additional income information.

After approval

Having received a positive response from the bank to provide a mortgage loan, it is necessary to prepare the following documents:

• a contract for the sale of housing;
• documentary evidence of registration of ownership of this object;
• technical certificate real estate;
• certificate of absence of arrears in utility bills;
• extract from the house book;
• data of the home seller;
• conclusion about independent evaluation real estate;
• application for property insurance.

Pros and cons of home loans

The question of whether to take a mortgage or not should be approached thoughtfully and carefully. Before you decide to draw up a loan agreement, you need to assess your financial capabilities, familiarize yourself with the conditions of creditors. The pros and cons of buying a home on credit are presented in the table:

Video

Mortgage lending is a convenient and fast way, a house or a room.

At first glance, the execution of such a loan option is quite simple, but a mortgage has many pitfalls: the requirements for borrowers, an apartment, a building, income level and age of a bank client are quite high.

In addition, property valuation and insurance of the borrower are obligatory.

What is this form of lending?

Mortgage is a type of lending for the purchase of real estate, in which the latter acts as a pledge to the creditor. The borrower is given a sum of money in the form of a loan.

He undertakes to regularly repay it in installments along with interest, and real estate - an apartment, a private house, a car, a plot of land - serves as a guarantee of payments.

Mortgage in the face of consistently high housing prices is almost the only way to buy an apartment or house for many Russian citizens. The term of such a loan is high: issued for 5, 10, 20 or more years.

At the same time, in the process of registration, you will have to contact not only, but also other organizations: insurance, appraisal.

Mortgage lending has undoubted advantages for the borrower:

There are also disadvantages:

1. Overpayment. Use of borrowed funds payable service. And the longer the term of this “rent”, the more you will have to overpay in the end.
2. Commissions, fines, penalties, additional payments.
3. A fairly large package of documents for obtaining a loan.
4. Most banks require a down payment to get a mortgage.

Conditions for obtaining a loan

Mortgage conditions vary depending on, but in general they are as follows:

Mandatory insurance is life, disability, health, mortgage object.

The property itself is necessarily evaluated by independent experts. The costs are borne by the borrower..

Requirements for borrowers

Any citizen who established bank requirements, can easily arrange a mortgage:

Ideally, the borrower should have the following characteristics:

1. The applicant has own funds to make the first installment.
2. Salary (or other official income) above the monthly payment at least 2 times.
3. A mortgage is issued for a secondary market apartment in a new house.
4. The borrower has other valuable property: a car, an apartment,.
5. The applicant has a complete family, in which there are not a large number of dependents, and both spouses work officially.
6. Official experience at one (last) place of work over 2–3 years.
7. There are guarantors who can document their ability to pay.
8. There are no other outstanding loans or MFI loans.

What housing can be purchased under this program?

The main requirement for real estate that is purchased with a mortgage is its profitability. It is important because it acts as collateral and in case of default, the bank will be forced to sell it.

Therefore, the requirements for apartments and houses under a mortgage are as follows:

The bank pays special attention condition of the apartment. Difficulties may arise if housing is located in barrack-type houses, communal apartments, old buildings. The best option would be an apartment in a new building.

In many banks, you can be denied a mortgage if purchased on borrowed funds housing is located in a building erected before 1957.

Certain requirements are also imposed on the most apartment or ordinary house:

1. If we are talking about a wooden or garden house, it must be built no earlier than 1990.
2. The number of floors of an MKD is at least 4 floors, or less if it was built after 1991.
3. The house is not registered for overhaul, is not emergency and is not subject to demolition or reconstruction.
4. Wooden houses, garden houses, as well as structures and buildings with wooden floors can rarely be the subject of a mortgage - a positive answer from the appraiser on the condition of the house is required.
5. The foundation of the house must be made of brick, concrete or stone.

Legal status of acquired housing

Immediately after buying an apartment or house in a mortgage the borrower acquires legal title to the property. However, when registering a certificate in Rosreestr, an encumbrance is imposed on real estate in the form of.

Until the date of full repayment of the debt, it is impossible to carry out the following actions with the apartment:

Theoretically, these operations are feasible: it is necessary obtaining the written consent of the pledgee-bank. But in practice, borrowers are rarely met in this matter, since the risk of debt default increases.

It is necessary to register in Rosreestr:

• mortgage agreement;
• pledge agreement.

If we talk about an apartment in a building under construction (), such a mortgage is even more risky for the bank. Interest rates for such loans are always high.

The borrower becomes the owner only after putting the house into operation, and the bank becomes the mortgagee. Until this moment, lender no guarantees of repayment because there is no actual apartment.

Special programs

Most large banks offer borrowers special loan conditions depending on the status of the client, which are issued as part of special mortgage lending programs.

Mortgages for military personnel

Participation in this type of mortgage can be those who serve under a contract concluded after 2005. In this case, a storage system is used.

After submitting an application at the end of the year, a special account of the military receives fixed amount in rubles. Facilities have special purpose – purchase of housing in any city of the Russian Federation.

If these funds are not enough, you can apply for a mortgage or report your own savings.

The capital has a similar program for those military personnel who have been sent to the reserve, but have served for at least a decade. They are issued certificates equal in value to the apartment, which must be used within 9 months (previously six months).

State program “Affordable housing for young families”

Within the framework of the program, a loan is provided to young (under 35 years old) parents of one or more children or just a married couple. This mortgage can be used just one time.

Mandatory is the state registered for citizens in need of improved living conditions.

There are additional requirements:

• the number of square meters per person in the family should be less than the norm;
• housing can be recognized as emergency;
• must match the level of income and so on.

Building Together Program

This mortgage program is based on the provision bank loan for the construction of a private house.

A mutual fund is created, borrowers contribute funds. As soon as going from 30 to 60% the required amount, the building cooperative adds the missing part and begins to draw up documents.

Housing becomes the key to housing cooperatives. Credit issued for 15–20 years.

Mortgage in Russia is gaining momentum. More than a million families have already been able to acquire their own apartments and houses with her help. new programs are offered, simplify the procedure for collecting documents and applying, offer low interest and additional bonuses.

Video: What is mortgage lending in Russia?

The video shows what the mortgage loans issued by banks in Russia are like.

The most popular myths concerning the purchase of housing in a mortgage are debunked. Advice is given on how to minimize the risks when applying for such a loan and get into a debt hole.

What is a mortgage and what are its main advantages? How to calculate mortgage payments by interest rate (online)? Which banks offer the best mortgage programs in Moscow?

Hello, dear readers of the HeatherBober business magazine! With you Denis Kuderin.

The topic of the new publication is Mortgage. The article will make detailed overview of this concept and all the advantages, types and conditions of mortgage lending are considered.

The material will be useful to anyone who is going to buy a home on a mortgage (no matter - in the near or distant future), as well as those who want to improve their financial literacy.

And now - about everything in order!

1. What is a mortgage - definition and essence

A mortgage is a type of collateral that serves as insurance for a lender lending money. The collateral is the property acquired by the borrower - as a rule, this is real estate (apartment, house, cottage, share in the apartment).

The property itself remains the property of the buyer, but the creditor, in case of violation of debt obligations, has the right to sue it in his favor.

The owner does not have the right to dispose of housing (sell, donate, exchange) without the permission of the lender for such operations.

Mortgage Agencies and Centers, which are available in every major city, provide professional assistance in choosing a mortgage.

2. Types of mortgage

There are several options for classifying mortgages. There are two fundamentally different types - a pledge for the acquired property and a pledge for the housing already owned.

Another difference criterion concerns the type of housing purchased.

In particular, on a mortgage you can purchase:

• apartments in new buildings or houses under construction;
• apartments on the secondary market;
• houses, cottages and summer cottages, cottages;
• real estate shares.

Some banks issue mortgages for housing construction on their own or with the involvement of contractors.

Competition in the environment of credit institutions leads to an extraordinary variety of credit programs. Each financial company offers "exclusive" products, but the differences between mortgage offers are rarely fundamental.

A little more about the truly unique mortgage options.

military mortgage

The purpose of such a mortgage is to provide full-fledged housing for military personnel. Russian Federation. The project has no analogues in world practice. Officers, midshipmen and privates of the Russian army, serving under a contract, can become its participants.

The military enters the Accumulative Mortgage System and after three years of membership in it can apply for the issuance of funds for a mortgage loan. Then they go to the bank and draw up loan agreement.

The initial contribution is paid by the Russian Ministry of Defense, the same structure makes regular payments on the loan. Thus, military personnel do not invest in real estate at all.

True, there is a limitation on the cost of purchased housing - this year the price of an apartment should not exceed 2.4 million rubles.

Read on our website detailed material on the topic "" and "".

Mortgage with state support

Another unique project is a mortgage with state support. The program has been operating since 2015 and allows everyone to take advantage of preferential terms, regardless of their social status.

The purpose of the program is to support construction organizations and revive the economic situation in the country during a protracted crisis. The state partially pays the mortgage loan, allowing borrowers to draw up contracts with a lower interest rate.

3. How to choose the right mortgage - 5 useful tips

Choice mortgage program- an event that should be approached with the utmost responsibility. In order to get a loan on really favorable terms, some preliminary preparation should be carried out.

Banking offers are a product of marketing, so you should not unconditionally believe all the promises and figures. You should find out in advance the real terms of lending, and not just those voiced by financial companies.

More details on this topic in the articles "", "" and "".

This is the first thing a borrower looks at when choosing credit program. Interest rates in Russian banks are currently quite high - 12-15%. It is believed that Russia has the highest overpayments on loans, but this is partly due to the level of inflation in the country.

In order for the rate to be “civilized” 7-9%, it is necessary to achieve stability in the economy for at least 10-15 years. Only then credit organizations can reduce the annual interest.

Example

You have decided to take out a mortgage on an apartment worth 3 million rubles. for a period of 20 years with an interest rate of 13%. By entering the data into the mortgage calculator, we get 35,147 rubles of monthly payments and an overpayment on the loan of about 5.4 million rubles.

Tip 2. Explore the possibility of early repayment

Statistics show that most loan recipients seek to pay off their debt ahead of schedule. Often a loan taken for 20 years is repaid in 7-10 years or even earlier.

Not everyone credit companies delighted with the early payment of the debt. The earlier the client repays the loan amount, the less profit the bank receives.

For this reason, financial institutions try to avoid unscheduled contributions. They may generally prohibit making payments in excess of the prescribed period for a certain period (this is called a moratorium on early repayment).

Another option is to complicate the procedure for early repayment and charge an additional commission for this.

When choosing a program, you should study all these points as detailed as possible.

Tip 3. Pay attention to the size of the commission

Clients are always aware of what the interest rate of their mortgage is, but not everyone knows what fees are charged for regular banking transactions. Meanwhile, these amounts often add up to tens or even hundreds of thousands of rubles every year.

Example

The bank offers a profitable (at first glance) loan for 13% per annum with a quick execution of the contract - what is called "under two documents". The borrower agrees to all the conditions for issuing a mortgage, including - with a commission of 0.4% per month.

“What is 0.4% is nonsense” - this is approximately the thought that flashes through the mind of the recipient of the loan when he signs the contract. However, in a year, the indicator of 0.4 turns into 4.8%. It is this number that should be added to 13% per annum. Thus, the interest rate will already be 17.8%, and this is completely different money.

There are also one-time commissions for processing the transaction. It is also useful to know about their sizes in advance.

Mortgage insurance is required by law. However, banks, in addition to the clause provided for by law, include other types of insurance in the contract - the life of the borrower, his ability to work and health.

All types of insurance are paid and are issued at the expense of the recipient of the loan. Often, regular payments amount to up to 1% per annum of the loan amount, and this is a considerable amount over the years of the mortgage.

Clients have the right to refuse voluntary insurance, but in this case, banks may increase the interest rate. All these details require prior approval.

Tip 5. We study the conditions for terminating the contract

It is worthwhile to find out in advance under what conditions the bank has the right to terminate the contract and demand the return of the deposit.

Usually banks take such a step after delaying payments more than 3 times a year, but it happens that even a one-time delay is already a reason for serious reprisals from the credit institution.

4. What you need to get a mortgage - the main conditions and requirements of banks

The time when banks handed out mortgage loans right and left to almost everyone who wanted it is irretrievably gone. Now, in order to get a mortgage, citizens need to meet the numerous requirements and conditions of credit companies.

The main ones are:

• age (the borrower must be over 21 years old at the time of obtaining a mortgage and less than 65 at the time of the expected repayment of the debt);
• the presence of a stable job - the client must work in the last place for more than 6 months;
• the monthly income of the borrower or family must be 2.5 times the amount of regular payments;
• availability of funds for the first installment (on average it is 10-30%);
• the presence of co-borrowers (in case the income is less than that required by the bank).

Some lending institutions require medical certificates confirming mental health and proof of residence in the city of receipt of the loan for a certain period.

Watch an informative video about mortgages from an expert.

5. What happens if you don't pay your mortgage

It is in the interests of each borrower to make payments clearly on time and in the appropriate amount. But… man proposes, but God disposes. Or, to put it another way, circumstances are often not in favor of the borrower.

Money that should go to a bank account suddenly becomes urgently needed elsewhere. Or they simply do not exist - a person was delayed salary or even fired. It was not possible to borrow money from relatives or friends to pay the monthly installment, the result is a delay.

If such actions are one-time and are not regular, the creditor simply applies sanctions - accrues fines and penalties.

If violations of the terms of the contract by the borrower are repeated, the bank has the right to go to court and sue the collateral. It does not matter if the person (family) has another apartment.

True, credit companies take such a step only in extreme situations, when all other options for influencing the debtor have already been exhausted. This option is not very beneficial for themselves. financial institutions because the sale of housing does not cover all costs.

Borrowers who know that they will not be able to repay the next payment should notify the bank in advance and discuss the terms of loan restructuring with managers. This will help to achieve a reduction in the size of payments when extending the term or to qualify for a credit holiday.

6. Mortgage in Moscow - TOP-5 banks with the most profitable mortgage programs

Dozens of financial companies offer mortgage loans in the capital. Choosing among them an organization with really worthy conditions is not an easy task.

But lending is impossible without serious security of the interests of the creditor. The evolution of credit development has shown that best interests of the creditor may be secured through the use of real estate collateral, insofar as:

• real estate is relatively little at risk of destruction or sudden disappearance;
• the value of real estate tends to constantly increase;
• the high cost of real estate and the risk of its loss are a powerful incentive that encourages the debtor to fulfill its obligations to the creditor accurately and in a timely manner.

One of the tools to protect the interests of creditors through the use of real estate pledge was a mortgage.

Mortgage - concept and essence

The term "mortgage" in legal circulation usually covers two concepts:

Mortgage as a legal relationship is a pledge of real estate (land, fixed assets, buildings, housing) in order to obtain a loan.

Mortgage as a security- implies: a debt instrument certifying the rights of the pledgee to real estate.

Mortgage credit lending- this is lending secured by real estate, that is, lending using a mortgage as a security for the repayment of credit funds.

If the loan is not repaid, the creditor becomes the owner of the property. Thus, a mortgage is a special form of collateral for a loan.

• a mortgage is a pledge of property;

• long-term nature of the mortgage loan (20 - 30 years);
• the pledged property for the period of the mortgage remains, as a rule, with the debtor;
• Only property that belongs to the pledgor on the right of ownership or on the right of economic management can be pledged;
• the legal basis for mortgage lending is the pledge right, on the basis of which a mortgage agreement is drawn up and the sale of property transferred to the creditor is carried out;
• the development of mortgage lending presupposes the existence of a developed institution for its assessment;
• Mortgage lending is carried out, as a rule, by specialized mortgage banks.

• Pledgor - physical. or a legal entity that provided real estate as collateral to secure its debt.
• A mortgagee (mortgage lender) is a legal entity that issues loans secured by real estate.

Legal basis for mortgage lending in Russia:

1. Federal Law of the Russian Federation "On Mortgage (Pledge of Real Estate)" dated July 16, 1998;
2. Federal Law of the Russian Federation "On valuation activities in the Russian Federation" dated 29.07.98.

Mortgage subject state registration institutions of justice in the Unified State Register of Rights to Real Estate.

Mortgages and banks

Mortgage banks - specialized banks providing long-term lending secured by real estate.

Advantages of mortgage lending for banks:

• relatively low risk when issuing loans, as they are secured by real estate;
• long-term lending frees banks from private negotiations with customers;
• mortgage loans provide the bank with a quite stable clientele;
• mortgages can be actively traded in the secondary market, which allows the bank to diversify its risk by selling the mortgage after the loan is issued.

Disadvantages of mortgage lending for banks:

• the need to keep narrow professional specialists in the staff - appraisers of real estate, which is presented as collateral, which increases the costs of the bank;
• long-term diversion of funds;
• a long term for which a loan is granted is a big threat to the bank's future profits, since it is very difficult to predict the dynamics of market interest rates for decades to come.

Mortgage lending mechanism

A mortgage is a loan secured by real estate.

The main documents for obtaining a loan that determine the relationship between the lender and the borrower are a loan agreement and a pledge agreement.

Loan agreement determines the purpose of obtaining a loan, the term and amount of the loan, the procedure for issuing and repaying the loan, lending instruments (interest rate, conditions and frequency of its change), loan insurance conditions, method and form of security check and intended use loan, sanctions for misuse and late repayment of the loan, the amount and procedure for paying fines, the procedure for terminating the contract, additional terms by agreement between the lender and the borrower.

Mortgage agreement determines the form, size and procedure for collateral for the loan.

Mortgage deposit

The development of mortgages presupposes the existence of specific types valuable papers— Mortgage and mortgage bonds.

Mortgage- it legal document on the mortgage (pledge) of the real estate object, which certifies the return of the object to secure obligations under the loan.

The object of collateral is real estate that serves as collateral for the obligations of the borrower. The object of lending is a specific goal. for which the loan is provided.

Thus, various combinations of the collateral object and the lending object are possible. For example: a loan for the construction of housing secured by a land plot.

Mortgage lending mechanism differs significantly from the mechanism of formation of credit resources in commercial bank. V developed countries the bank generates funds for granting a loan, mainly by selling bonds and own capital.

Mortgage sheets - these are long-term collateral obligations of the bank, providing reliable (or aggregate) mortgage loans, on which a fixed interest is paid.

Mortgage sheets are implemented mortgage banks in the secondary market to investors - other credit institutions (in some countries - to any investor).

The secondary market is the process of buying and selling mortgage securities issued in the primary market. To provide primary lenders with the opportunity to sell the primary mortgage, and to provide another loan on the income received in the same market - this is the main task of mortgage capital.

Investments in mortgage bonds are considered a reliable investment of capital, because, in addition to a stable interest income, the investor is guaranteed against risk by mortgage. Certainly, market price mortgaged property may fall over time, but here banks can offer different variants hedging (risk reduction).

Having sold mortgages, the lender uses the proceeds to provide new mortgage loans.

Mortgage loan repayment associated with the term and interest on realizable mortgages. If the validity of mortgages is 10 years, and the fixed interest rate is 6.5%, then the loan must be issued at a rate of at least 7% per annum to cover the costs of issuing mortgages and paying interest to investors. A change in the % rate, depending on market conditions, will occur after 10 years, if the mortgage term is longer. Repayment is carried out with installment payment, the interval (month, quarter, six months, annually) is established by the loan agreement.

The role of mortgages in the economy

Mortgage lending is an essential element. Reflecting the patterns of development of the global banking industry, it is one of the priority development tools.

Mortgages and crises

World experience shows that mortgage lending has contributed to revival, recovery, overcoming unemployment and, ultimately, out of the crisis United States of America - in the 30s, Canada and Germany - in the 40s-50s, Argentina and Chile - in the 70s-80s, as well as accelerating economic reforms in a number of countries. Certain hopes are placed on mortgages as a tool for solving the housing problem in Russia as well.

Mortgage and the real sector of the economy

The development of the mortgage business has a positive impact on the functioning of industry, construction, agriculture, etc. As world practice shows, the spread of mortgage lending as effective way financing of capital investments can contribute to overcoming the investment crisis.

Mortgage and banking system

Mortgage lending is of great importance directly for development of the banking system country. Mortgage is the most important instrument that ensures the repayment of the loan. A mortgage lending institution operating within the framework of the mortgage lending system is a relatively stable and profitable economic entity. Therefore, the more such credit institutions in the banking system, the more stable and efficient its activity in economic system the country as a whole.

Mortgage and social welfare

Mortgage lending, diverting cash from current turnover to domestic accumulation, to some extent contributes to the reductioninflation.

V modern conditions increases the value of the mortgage for. Housing mortgage lending contributes to the provision of citizens with affordable private residential property, being a powerful factor in the class of society.

The relevance of a housing mortgage loan is due to the fact that its use allows you to resolve contradictions:

• between high real estate prices and current incomes of the population;
• between money savings in one group economic entities and the need to use them in another.

The absence in our country for 70 years of the institution for real estate and the institution of mortgage has led to negative consequences- the experience of organizing mortgage lending has been largely lost both at the level of a credit institution and at the level of the state as a whole.

If earlier the only way to improve living conditions was to obtain public housing, today this problem is mainly solved by citizens through the purchase or construction of housing at the expense of their own savings. The limited budgetary resources have focused the state's attention on solving the housing problems of only certain groups of the population. However, most of them are currently unable to improve their living conditions due to lack of necessary savings.

Creation of a mortgage lending system will make the purchase of housing affordable for the main part of the population; will ensure the relationship between the monetary resources of the population, banks, financial, construction companies and construction industry enterprises, directing financial resources to real sector economy.

Mortgage lending infrastructure

The effective functioning of the system of mortgage lending institutions is impossible without the availability of appropriate supporting elements (infrastructure). The specificity of mortgage lending is its closest connection with the valuation, insurance and registration of real estate turnover, as well as with the secondary market for mortgage loans. In this regard, the functioning of the system of mortgage institutions is impossible without the presence in the country of:

• real estate turnover registration systems;
• insurance organizations (companies);
• organizations professionally engaged in real estate valuation.

The developed infrastructure of the mortgage lending system ensures the efficiency of mortgage operations, increasing the protection of the rights of mortgage lending entities.

In modern realities of life, when the population of the planet is steadily growing, one of the most pressing is the housing issue. It is no secret that not every family, especially a young one, can afford to purchase their own housing, so more and more people are interested in what a mortgage is and how to get it. What are the advantages of this type of lending and is it worth the hassle?

The essence of the mortgage lies in the fact that if you do not have good relatives who are able to lend money free of charge to purchase housing, and you really want to have your own apartment, you can contact the bank and get the necessary amount. However, this type of loan is somewhat different from the usual consumer loan, to which we are already accustomed. What exactly - we will understand.

What is a mortgage and how to get it without problems

First of all, you need to understand that a mortgage loan is a targeted loan for the purchase of a specific property, and unlike a consumer loan, you will not be able to manage the money at your own discretion. In addition, providing this case most often the acquired object itself becomes - an apartment, a shop, production room. Therefore, it can be argued that there is a mortgage to secure obligations to creditors. Banks, by the way, accept not only housing - a car, a yacht, land plot. However, a feature of this type of lending is that the object acquired in this way becomes the property of the borrower immediately from the moment of purchase.

In Russia, the most common variant of this type of lending is a mortgage on housing. Moreover, as a rule, it is the apartment being purchased that is given as collateral to the bank, although, as an option, existing real estate can also be pledged. Almost all banks offer this type of service - Sberbank, Gazprombank, Alfa-Bank, VTB. A mortgage is always profitable for any credit institution, because even if the borrower does not have the funds to pay off the debt, the bank will still have the collateral. That is why the latter willingly issue such loans, vying with each other offering "favorable" conditions.

Who will get a loan and what is needed for this

In order for an apartment in a mortgage to become a reality, you will have to “sweat” enough, collecting required package documents. But we will talk about it a little lower, but now let's make some average portrait of a potential client who is able to get a mortgage loan:

1. First of all, age - the ideal range is from 23 to 65 years.
2. Integrity Level – You will need an impeccable credit history. If you do not have one, then before applying for a large loan, take a couple of consumer loans and carefully pay them off. Of course, a consumer loan is not as big as a mortgage, you will pay a much smaller installment, but having two or three loans paid on time will have a very positive effect on your image in the eyes of the bank.
3. Work experience - more than two years, and at the last place of work - at least 6 months.
4. The presence of "white" income sufficient to pay off the monthly payment.
5. And, of course, you have to collect a huge list of documents, and the more serious the bank, the more papers, certificates and receipts you will be asked.

Of course, the requirements described above are a generalized version; slightly different indicators can be found in brochures. For example, some banks on the pages of their prospectuses declare that they are ready to issue mortgage loans to persons over 18 years of age. Or another option: supposedly for a positive answer, you do not need a certificate of income. So, you know: most often this is just a publicity stunt. Clients who know from their own experience what a mortgage is and how to get it, say: if you do not meet the above requirements, you will not be given a loan for an apartment. And who is guaranteed to count on a positive response?

So, you are most likely to be given a loan if:

• you have at least 20% of the cost of the purchased housing for the down payment;
• your official salary is at least twice your monthly payment;
• a mortgage is issued for an apartment, and not for a land plot or a private house;
• all able-bodied family members have official employment with a “white” salary;
• there is other real estate that already belongs to you by right of ownership (mortgage and it is also not required);
• you do not have outstanding loans and other debt obligations;
• you do not act as a guarantor for loans of relatives or acquaintances;
• work experience at the last place of work is more than 2-3 years;
• you can provide one or two solvent guarantors (required quite often, but not always).

Documentation

So, you have decided that the only way to improve your living conditions is a mortgage. Banks will require from you an impressive package of documents. Let's dwell on it in more detail.

The summary list looks like this:

• bank profile;
• an application for a mortgage - sometimes you can apply for it online by visiting the official website of the institution;
• a photocopy of a civil passport or a document replacing it;
• a copy of the state pension insurance certificate;
• certificate (copy) of tax registration in the territory of the Russian Federation (TIN);
• men of military age will also need a copy of the military ID;
• photocopies of documents on the education received - diplomas, certificates, etc.;
• copies of certificates of marriage / divorce, birth of children;
• marriage contract (copy), if any;
• a photocopy of the work book (all pages) with the identification record of the employer;
• any documents confirming the amount and source of your income - personal income tax form 2, bank statements, receipts for receiving alimony or regular financial assistance, etc.

In some banks, these documents are sufficient, but most often a mortgage loan requires a much larger amount of paperwork. For example, you will most likely need to prepare:

• form 9 - certificate of registration at the place of permanent residence;
• photocopies of civil passports of all persons living with you, as well as immediate relatives (parents, children, spouses), regardless of their place of permanent residence;
• a certificate of the amount of the pension and a copy of the pension certificate for non-working relatives of the appropriate age;
• copies of death certificates of all deceased immediate family members - spouses, parents or children.

And again documents

If you have any expensive property, then you will need title documents confirming ownership - bills of sale, gift, privatization certificates for a summer house, apartment, car, etc. You will also need a certificate in form 7 characterizing the parameters of your residential / non-residential premises.

As soon as you own shares, bonds, etc., you will have to provide an extract from the register of securities owners.

Mortgages are a responsible business. So be sure to provide documents confirming your reliability - credit history, copies of receipts for timely payment of telephone and utilities, rent for the last few months, and preferably for a year or two.

If you have bank accounts - card, current, deposit, credit, demand, etc. - you will need documents confirming their existence.

In addition to everything, in order to apply for a mortgage loan, be sure to stock up on a certificate confirming that you are not registered in a neuropsychiatric or narcological dispensary.

When contacting the bank, you will need not only copies, but also originals of the above papers, and if you have a co-borrower, he will have to prepare the same package of documents.

And once again the documents

Additional documents may be needed for those who work "for themselves" and have their own business. These can be copies of constituent documents, accounting statements on the presence of profit / loss for the last few years, staffing, copies of the main contracts, balance sheets - in general, any documents that can confirm financial stability your enterprise and its ability to dynamic development.

If you are an individual entrepreneur without education legal entity, then the bank will most likely ask you to provide:

• registration certificate;
• receipts for the payment of taxes and contributions to various funds;
• copies bank statements on accounts for the last few years;
• book of accounting for expenses and income (if any);
• photocopies of lease agreements for premises and other documents confirming your stability and solvency;

As you can see, an apartment in a mortgage is a rather troublesome business. After all the necessary documents have been submitted, it is necessary to wait for the bank's decision to issue a mortgage. Usually, the review period can take from a day to several weeks, but some banks offer an “express mortgage” service, when a decision can be made in two to three hours. Once approved, you can start looking for an apartment.

How to choose a bank: the most profitable mortgage loans

If the long list of necessary documents did not frighten you, and you only strengthened your decision to take a home on credit, let's take a closer look at the question of how to choose the most profitable proposition. It is clear that paying off a mortgage is a long and rather expensive process, and, as you know, no one wants to overpay. What to look for when choosing a credit institution?

1. First of all, you should carefully study the programs offered by banks. At the same time, try to pay attention to institutions that have been operating on the market for more than a year and have a proven reputation.
2. If you already have a card (any) of any of the banks, and you are generally satisfied with its work, then first of all turn your attention to this particular company. The point is that usually regular customers many financial institutions offer special, more profitable terms lending than people who applied to them for the first time.
3. Pay attention not only to the interest rate, but also to the likely number of one-time payments, the amount of which in the end can be quite large. Such "commissions" may be charged by the bank for the execution of various certificates, insurance and other services.
4. Be sure to explore the possibility of early repayment of the loan. For example, in a bank like VTB, a mortgage can be repaid ahead of schedule without problems, while other credit organizations in this case oblige the client to pay some additional fines and penalties. It may also affect your choice.
5. Almost every banking institution has its own website where you can easily find a mortgage calculator. This is quite convenient: by filling in the appropriate fields, you can roughly calculate how much you will have to pay monthly. Compare these figures by browsing the pages of several banks and determine the most advantageous offer.

In order not to get confused with a large number of offers, you can create a small table for yourself, where the columns will be the terms of credit, and the rows will be several banks offering mortgages. Be sure to use a mortgage calculator - it will greatly facilitate your calculations and help determine the total overpayment and the amount of the monthly payment.

Columns (criteria) can be:

• mortgage term;
• interest rate;
• monthly payment;
• third-party commissions, one-time payments;
• the need to verify income;
• the possibility of early repayment;
• the size of the initial mandatory contribution;
• sanctions for late monthly payments;
• promotional offers.

Of course, you can add to the proposed list of criteria at your discretion. Do not rush to choose a bank with the lowest interest rate - perhaps all other conditions will not be so favorable. So evaluate all the points in the complex.

Social mortgage loan

There is another point that you need to pay attention to when choosing a bank. The fact is that for some categories of citizens, the so-called social mortgage is provided - preferential lending aimed at providing housing for vulnerable segments of the population who are simply not able to purchase an apartment under the "commercial mortgage".

The main difference of this type of lending is the cost of one square meter of purchased housing. In order to take part in the program, it is necessary to write an application for the improvement of living conditions and become registered with the Administration at the place of residence. Your application will be reviewed and a decision will be made accordingly. One of the main criteria for such registration is compliance with the Decree of the Cabinet of Ministers of the Republic of Tajikistan No. 190, from which it follows that the provision rate with total area housing per person is 18 m 2.

The participants of the program social mortgage”can become, for example, state employees. A loan can be issued at only 7% per annum and for a period of up to 28.5 years, while most often it is not even required to make an initial contribution.

However, not all banks work with this type of lending. The necessary information about where it can be issued, as well as whether you can apply for it, can be found in the city (district) administration. Most often there is a department responsible for

Lending to a young family

If the older generation mostly received housing back in Soviet times, then mortgages for young families are practically the only way today to acquire their own housing and become independent. Fortunately, this type of lending is also supported by the state.

Each young family can take part in the federal program and apply for state subsidies to purchase their own housing. The normal area for a family of 2 is 42 square meters. Such a family can qualify for a subsidy of 35% of the cost of housing. If a young couple has children, then the norm of housing is calculated as 18 m 2 per person, and the amount of the subsidy increases to 40% of the cost of the apartment.

State mortgages for young people can be provided not only if they are married - "loners" can also qualify for a soft loan. To this end, the practice of student construction teams, which are being formed in many universities, is being revived throughout the country. After a fighter of such a detachment has worked "for the good of the Motherland" one hundred and fifty shifts, he receives the right to apply for a mortgage on an apartment at cost. Thus, with a little work, you can buy housing 2-3 times cheaper than its market value.

Mortgages for military personnel

National program " military mortgage” is another option for supporting the population. The program is aimed at military personnel through the accumulative mortgage system. It all depends on the military rank of the participant and the date of the conclusion of the first contract for service.

The essence of the Military Mortgage program is that every year the state transfers a certain amount to the individual account of each serviceman, the amount of which is regularly reviewed by the Government of the Russian Federation, depending on the level of inflation and other indicators. Over time, the accumulated amount can be used as

Pros and cons

Now that you have at least in general terms understood what a mortgage is and how to get it, it is simply impossible not to dwell on the main advantages and disadvantages of this type of lending.

Of course, the main advantage of a mortgage is that you can get your own apartment right now, and not save up for it for many years, "bouncing around the corners." Since the loan is issued for many years, the monthly payment is usually not too large, and the average Russian is quite capable of repaying it.

However, with all the "rosiness" of the prospects, we should not forget about the shortcomings, among which, first of all, we must name the huge overpayment of interest, sometimes reaching more than 100%. In addition, almost every mortgage agreement necessarily contains third-party costs - for maintaining a loan account, for considering an application, various insurances, commissions, and so on. All this together can reach 8-10% of the cost of the down payment. And, of course, a huge list of documents, although this is not surprising, because the bank entrusts you with considerable funds, and for a very long time.