Mortgage terms in Sberbank - 482 tips from lawyers and lawyers

Validity period for mortgage approval at Sberbank

Before 2020, after approval of a mortgage application, the borrower had only 2 months to select housing, collect the necessary documents, and submit them for approval to the bank. In 2020, Sberbank extended this period, and now it is 90 days.

During this time, the client must manage:

Find a suitable object that will meet the bank's requirements.
Make an assessment of the selected apartment.
Register ownership of the object in Rosreestr.
Submit documents to the bank and get a mortgage.

Unfortunately, clients do not always have time to complete this work in just 3 months. In this case, you will need to resubmit your mortgage application and wait for its approval again.

Expert opinion

Alexander Nikolaevich Grigoriev

Mortgage expert with 10 years of experience. He is the head of the mortgage department in a large bank, with more than 500 successfully approved mortgage loans.

The 90 day report will begin from the date the application is approved. It will not be possible to extend the term, because the required package of documents for a mortgage includes a salary certificate, and it is valid only for 3 months. Accordingly, if the client does not have time to complete all the necessary procedures for purchasing an apartment after approval of the application, he will be forced to submit the entire package of documents with an updated salary certificate.

Preparing for a mortgage

To successfully make a bank decision on a mortgage, it is necessary to fully comply with the requirements for the mortgage applicant. The main criteria are the recipient’s age over 21 years, length of service at the last place of work and level of earnings. Based on this data, the bank will calculate the maximum mortgage amount, as well as the interest rate.

Documents for issuing a mortgage loan

Passport or other identification (driver’s license, pension, military ID, international passport, etc.).
A work record book or a certificate from work describing the work experience for the last six months and 5 years.
A certificate, statement or other paper indicating the parameters of the client’s monthly replenishment from salary payments.
Documents for collateral, if used to increase the loan amount.
Documents for using preferential or special programs: marriage certificate, mother’s capital certificate.

If you are going to take out a loan on general terms, then you will only need a passport of a citizen of the Russian Federation, a work book with a record of your last place of work and a 2-NDFL certificate or a bank form about your current earnings from work. If you want to take advantage of such preferential programs as a mortgage with state support for families with a 2nd and 3rd child or for a mortgage loan using maternity capital, then, depending on the targeted housing loan program, you will have to provide additional documents to confirm your rights to benefits.

An application for a mortgage can be submitted either in person by visiting the nearest Sberbank branch, or through the DomClick portal from Sberbank - there, when submitting an application online, you can immediately pre-calculate the cost of a mortgage loan using a calculator.

A mortgage application is processed within 5 working days. In rare cases, the process may take a long time, depending on the documents provided and the number of current requests from bank clients with mortgage applications.

What can and cannot be done?

Purchasing an apartment using a mortgage imposes some restrictions on new owners:

The borrower can register himself and his immediate relatives in the apartment.
The owner cannot completely dispose of the property, because it is pledged to Sberbank. You cannot bequeath or donate housing. You can even sell it only with the permission of the bank.
The borrower has the right to make repairs of any kind. In addition to redevelopment. Any changes must be coordinated with Sberbank. Coordination of redevelopment takes place in 3 stages:
coordination of reconstruction with the insurance company;
obtaining the bank's consent.
The owner can, purely theoretically, re-mortgage his apartment. But again, the consent of Sberbank will be required. In such a situation, another bank is unlikely to agree to become the second lender in line if the borrower cannot pay the mortgage.

What to do after your mortgage application is approved?

Now you have received the long-awaited answer from the bank - your mortgage has been approved! What to do next? Depending on the terms of your mortgage (on general or preferential terms), you will need to prepare all the documentation for the housing you are purchasing, and if you have not chosen an apartment yet, you will need to find an apartment and provide documentation on it to the bank for approval:

Contract of sale.
An application from the wife/husband regarding consent to the transaction (notarized) or a certificate of absence of the spouse.
Cost estimate according to the expert's report.

The borrower has only 2 months to submit these documents.

Depending on the type of person from whom you are going to buy housing - a legal entity or a company, additional documents may be required; the bank will ask you for them if necessary. The same applies to building your own private home.

First payment after mortgage approval at Sberbank

After all the above steps, in parallel, you will need to confirm the availability of the required amount for the first mortgage payment, for example, this could be an account statement from Sberbank or any other bank.

Conclusion

The process of getting a mortgage is interesting and tricky at the same time. It is better to prepare for a mortgage in advance - since only 2 months are given to conclude a mortgage agreement, during which you will need to agree with the bank on all the necessary documentation for the property, as well as make a down payment. The most convenient way to choose housing is on the DomClick portal from Sberbank, because there the process of obtaining a mortgage is as simplified as possible:

Register on the portal and upload all the necessary documents for the borrower
Choosing a home from a real estate catalog
We calculate preliminary loan conditions based on the housing by selecting a loan program
We receive the bank's decision

Another advantage of this method is the electronic execution of the transaction using an electronic signature - the tax on the purchase of real estate is perfectly refunded for housing purchased in this way. We wish you success in purchasing a home with a mortgage!

Preparing documents

It is advisable that the search for a suitable apartment occurs in parallel with the collection of documents. After all, resolving an issue often takes a lot of time. There is a conditional division of documentation into the following categories:

With personal information.
Certificates to confirm your financial stability.
Additional information.

Important! Representatives of the first category - a passport along with a work book. The HR department employee must additionally certify a copy of the work record book. Sberbank employees independently certify a copy of the passport. What's next? Additional steps will be described below.

But financial documents are the most important. For example, this is a certificate from the place of employment indicating the salary level. It’s good if it is possible to confirm the fact of receiving additional income. The higher the income level, the more financial assistance clients can count on. If your mortgage is approved by Sberbank, then there shouldn’t be any problems.

The list of additional documents is determined for each document individually. This may include:

Certificates with information on marriages and children born.
Military IDs.
Certificates of absence of client records from drug treatment and psychiatric dispensaries.

Completed application forms are also required. It's easy to do.

How to get the best mortgage terms?

The conditions under which the bank agrees to approve a mortgage depend on many parameters.

The following recommendations will help you get the most favorable terms.

Try to make the largest down payment possible. It is recommended to pay 30-50% of the cost of housing from your own funds.
Involve guarantors whenever possible. To receive favorable mortgage conditions, they must have a high income, confirmed by a 2-NDFL certificate.
Contact the bank through which you receive your salary. Typically, reduced interest rates apply to salary clients.
Pay attention to bank shares. Sometimes they greatly reduce the rate when purchasing an apartment during the construction phase from partner developers.

The mortgage can be issued for a period of 3 to 30 years, and sometimes more. The monthly payment and the total overpayment depend on the loan term.

As the loan term increases, the cost of insurance also increases, because it must be renewed annually. But you can only take out a short-term mortgage if you are 100% confident in your financial capabilities, not only for the current moment, but also for the entire term of the loan. In other cases, it is better to take out a mortgage for a long time and, if possible, make a large down payment.

Tags: mortgage, apartment, when, shaved, registration

« Previous entry

The procedure for issuing a mortgage loan - where to start

A mortgage loan differs from a regular consumer loan in that the collateral is real estate that the bank client buys. That is, actions with the apartment will be limited, but you can live in it and even make repairs. When the loan is repaid, the encumbrances are removed.

The procedure for issuing a mortgage loan
begins with the selection of a credit institution.
It must suit the needs and requirements of the borrower. If you don’t have time to search, you can use the services of a mortgage broker, he will find and select everything himself. Well, if you don’t have enough money, then you need to look for a bank yourself and study the lending conditions. Moreover, this must be done carefully, choosing the conditions that suit you.

Then, having found what you need, you contact the bank with a full package of documents, it needs to be clarified there. They study everything in detail and if everything is in order, they give the go-ahead and you receive approval in the form of a special document, which will then be presented as proof that the bank agrees to issue a loan. Verification of all documents may take a long time. This is fine. Additional documents may also be required.

You then have 3-4 months to find housing; after this period, the confirmation document will be invalid. There is no need to search for a long time. Housing must meet the bank's requirements and be located within its service area. When you find what you need, contact the bank and an appointment will be made, where you and the owner of the property will appear. The loan and purchase and sale agreement is also signed there.

After a few days, you will receive a certificate stating that you are the owner of the property, but with a note that you purchased it with a mortgage. And the seller receives money to his account or in cash.

Important! No money is given to the borrower.

Well, then, accordingly, you just have to repay the loan by choosing a repayment scheme that is convenient for you.

Now let's look at what stages of applying for a mortgage at Sberbank will await you if you decide to apply for a loan.

Selecting a mortgage program

First of all, pay attention to the down payment and whether you can pay it.

Sberbank works with maternity capital and government support programs, this allows you to make a smaller initial contribution or not pay it at all.

Also, when choosing the loan amount, pay attention that the funds for its repayment are no more than 60% of the family income, or in some cases 70% is allowed.

Applying for a loan

When a banking program has been selected, you are convinced that it is completely suitable for you, it is time to apply for a loan. To do this, you need to collect the appropriate package of documents and come to the bank with it.

Required package of documents

It is better to think about them as early as possible. Because they influence whether the bank will approve the loan or not. Sberbank requires the following documents:

copy of passport (all pages);
certificate of income for the last six months;
a copy of each page of the work book or employment contract, which is certified by a notary or employer;
statement.

If there are benefits, then you also need to provide the necessary list of documents on them, as well as additional sources of income (if any).

Choosing housing and registering mortgage collateral

For Sberbank clients there are no restrictions on the choice of housing and its type. You can choose either a secondary market apartment or a new building.

Requirements for housing are limited by the assessment and its location in the service territory of Sberbank. The cost of the property must not exceed the maximum loan amount.

Now we actually move on to registering the collateral. The housing purchased by the borrower serves as collateral. When the purchase and sale agreement is concluded, the housing will need to be re-registered and an encumbrance mark will be installed, which confirms the bank’s interest.

Purchase and sale transaction

After signing the loan agreement, the funds are transferred to the borrower and the purchase and sale procedure can begin.

Often the money is transferred to the account of the seller or the developer. Also, sometimes a safe deposit box is rented in which all funds are stored until the transaction is completed.

Registration of mortgage and apartment ownership

Immediately after the purchase and sale transaction, the borrower receives full ownership of the apartment. But there is a burden on the apartment, since it was purchased with money borrowed from a savings bank.

This means that the new owner does not have the right to sell the property or anything like that. But the property must be registered by the state. It consists in drawing up an act of transfer of housing from the old owner to the new one and issuing a corresponding state certificate of a new type.

When the bank client repays the debt, he will need to submit an application to remove the restrictions and receive a new certificate (optional).

Insurance

An apartment purchased on credit and pledged by Sberbank is subject to mandatory insurance. If you wish, you can insure your life and health, but if not, the bank may increase interest rates.

The bank chooses the insurance company because it cooperates with them. The insurance company provides discounts and benefits to Sberbank clients. The amount will be extremely small.

The insurance agreement will be signed along with the loan agreement. It will indicate all possible risks associated with the apartment in the event of which the company undertakes to make insurance payments.

If the borrower insures his life or health, the bank will have more confidence in him, since this is a guarantee that even after the death or disability of the borrower, the loan will be repaid with insurance payments.

Conducting an assessment

To determine the size of the mortgage, the buyer must conduct an independent appraisal of the property. It is carried out by accredited specialists. To speed up the process, it is advisable to choose a specialist from among the companies with which the bank cooperates.

The assessment is carried out at the expense of the buyer and averages 3000-4000 rubles.

Based on the results of the work, the expert draws a conclusion: he describes the features of the property, its market and liquid value.

Real estate appraisal is a mandatory stage of obtaining a mortgage loan. It is the expert’s conclusion that determines what size of mortgage the buyer can expect when purchasing this property.

We suggest you read: When do paychecks arrive after dismissal?