10 banks that provide mortgages to foreign citizens in Russia

Is it possible to get a loan with a residence permit in the Russian Federation?

ATTENTION : A mandatory requirement of almost all Russian banks when applying for a mortgage is the presence of Russian citizenship. In addition, the borrower must have registration (temporary or permanent) in the region where the loan was issued.

Can non-Russian citizens get a housing loan if they have a residence permit in our country? Foreign citizens and stateless persons have the opportunity to take out a mortgage if they have obtained a residence permit. Such a document is issued to those who subsequently intend to obtain Russian citizenship. This means that the foreigner has serious intentions regarding the issue of living in Russia, which means he can be considered a reliable client.

A residence permit allows you to take out loans from banks , since this document is issued for a period of 3 to 5 years, and upon expiration it can be extended. A residence permit allows foreigners to work officially, pay taxes, register individual entrepreneurs, receive education, etc.

And if you have a job and a salary, you can take out a mortgage loan. As a rule, having a residence permit, a foreigner cannot be unemployed and have no source of income, since this is contrary to the Russian law on migration.

Without a residence permit, no bank will be able to approve a housing loan, since the absence of this document may mean :

• short stay in Russia;
• illegal presence in the country;
• expired temporary residence permit;
• lack of required work experience in the Russian Federation.

Among the large number of lenders, it is possible for a foreigner to obtain a mortgage only in a few banks. The conditions and rates will differ significantly from the conditions and interest rates that banks offer to Russian citizens, even if the foreigner lives in the country with a residence permit.

Watch a video about the possibility of obtaining a mortgage for housing for non-Russian citizens with a residence permit:

Which banks give mortgages to foreigners?

So, let's consider mortgage offers for foreigners with temporary registration and for those who have a temporary residence permit. By the way, a temporary residence permit in most banks gives the right to obtain a mortgage under standard conditions for citizens of the Russian Federation, without increased rates and requirements.

• Transcapitalbank offers mortgage loans for up to 75 years with a minimum down payment of 5% of the total value of the property. Annual rate from 11.4%.
• If they have a residence permit, foreign citizens can apply for a mortgage at only 9.5% at Raiffeisenbank .
• Russian Capital Bank has an interest rate of 10.25% per annum for a period not exceeding 30 years.
• Foreigners can borrow up to 30 million from UniCredit
• The representative of Group Societe Generale - mortgage bank Deltacredit offers 15% per annum for an agreement with an amount not exceeding 15 million rubles and for a period of no more than 25 years. Down payment from 40%.

Also, it is worth considering offers from Post Bank, Vostochny Bank, Renaissance Credit and Sovcombank.

Does Sberbank give mortgages to foreigners?

All mortgage lending offers at Sberbank are available to citizens of the CIS countries and other countries, even without a residence permit. Each application is considered individually, taking into account the degree of residence of the borrower. Most often, the rate for non-residents increases by 1-1.5%, and the maximum duration of the contract is 30 years. Failure rate is 25% higher.

The main requirement of Sberbank when considering a mortgage application from foreigners is the presence of guarantors - citizens of the Russian Federation.

Alfa Bank

Alfa Bank mortgages for foreigners provide the opportunity to purchase housing at the lowest rate on the Russian market - from 9.29%. The amount cannot exceed 50 million rubles, and the contract period is 30 years. The standard down payment amount is 15%. The application can be submitted online.

Alfa Bank considers requests from people with more than a year of work experience in the Russian Federation.

Required condition: obtaining employment insurance for the borrower.

VTB bank

Mortgages for foreigners at VTB Bank are available if borrowers agree to stricter conditions for obtaining a loan to purchase an apartment. The annual rate can reach 17%, and the down payment cannot be lower than 20%. The maximum loan duration is 30 years. A full package of accompanying documentation is required.

For citizens who have a residence permit in Russia, VTB has the same lending conditions as for citizens of the Russian Federation.

Features of loans from banks for non-residents in the Russian Federation

No bank has a special mortgage program for foreigners. Those institutions that issue housing loans to this category of borrowers draw up an agreement on an individual basis, taking into account the base rates, the client’s income level, the availability of certain documents and property for collateral.

IMPORTANT : Mortgages for foreigners are usually issued only with a large down payment. You can reduce it and the interest rate by registering your existing housing as collateral, which is located in Russia.

One of the features of such lending is the short term. The mortgage can be issued for a period of up to 10-15 years.

To reduce the likelihood of refusal, the borrower can:

1. Involve a co-borrower or guarantor in drawing up the agreement . In this case, the additional participant in the transaction must be a citizen of the Russian Federation, just like the borrower, have an official place of work and sufficient income to repay the loan.
2. Immediately provide the bank with documents for ownership of expensive property (apartment or car). In this case, the bank will consider the application taking into account these circumstances. Collateral is a good guarantee for the lender.
3. Provide the bank with evidence of the availability of money to pay the down payment . If the borrower is willing to contribute more than 20% of the property price, this will increase the chances of receiving a loan.

Mortgage for foreign citizens

The procedure for obtaining a mortgage loan for a residence permit in Russia proceeds as standard. Foreign citizens who can count on receiving a housing loan from Russian financial institutions must work legally in order to be able to document their own solvency to the lender.

For non-residents

Criteria for obtaining, non-residents can obtain a mortgage with a residence permit in Russia on the following conditions:

1. Permanent residence on the territory of the Russian state, including moving to permanent residence. A citizen must stay in Russia for more than 183 days.
2. Official employment or having your own legal business. Work experience must be at least six months.
3. Timely payment of fees and taxes provided for in the Russian Federation.
4. A stable monthly income that can provide a citizen with solvency for a mortgage loan.
5. Availability of funds to make the initial payment on the loan.
6. No third-party debt obligations.
7. Positive credit history.

If the foreigner complies with all of the above points, the lender can make a positive decision on the mortgage application.

Having only a residence permit

Is it possible to get a mortgage with a Russian residence permit?

According to current Russian legislation, foreigners with a residence permit have almost the same rights as Russian citizens with regard to paying taxes, receiving social assistance and various benefits. This right also applies to obtaining housing loans.

Requirements for the borrower

In each financial institution, the requirements for borrowers under mortgage lending programs may differ, but the main ones are the same for all citizens of the Russian Federation and foreign nationals with a residence permit in the Russian state.

Standard requirements that the borrower must meet:

• The minimum age of the applicant at the time of application is 21 years;
• the maximum age of the borrower for the period of expiration of the loan agreement is 65−70 years, depending on the chosen financial institution;
• official employment;
• stable monthly income;
• positive credit history or its complete absence;
• permanent residence in the region where the bank branch where the mortgage is issued is located;
• availability of a cell phone number.

If there are co-borrowers on the loan and guarantors are involved, similar requirements are imposed on them.

Mortgage with temporary residence permit for citizens of Ukraine

Before relations between the two states deteriorated, Russian banks provided mortgage loans to citizens of Ukraine on preferential terms.

Today, Russian banks offer clients mortgage loans with citizenship for Ukraine on the same terms as for citizens of other states.

This category of borrowers can count on a housing loan with temporary residence permit in Russian banks that provide such products only if they have a permanent job with an official salary.

At the same time, a Ukrainian working on the territory of the Russian state, according to the laws of the Russian Federation, is obliged to pay the appropriate taxes and fees, like Russian citizens.

Attitude of banks towards foreign borrowers

Banking services that are related to lending are always characterized by a high risk of losing the organization’s own funds. Each potential borrower, especially a citizen of another state, is carefully checked by special services of the creditor bank for reliability and solvency.

Foreigners are given special attention because... This category of applicants can leave the country at any time without fulfilling their financial obligations under the loan agreement.

Therefore, not every Russian bank is ready to lend a large amount to such clients. And those credit institutions that take such high risks are tightening requirements for foreign clients, raising interest rates and limiting loan terms.

Bank conditions

Mortgage programs differ from other credit products in large loan amounts, low interest rates and a long service life.

Key mortgage conditions for foreign citizens:

• availability of a residence permit in Russia;
• residence, work activity in the region where the creditor bank is located;
• down payment on a housing loan - 15% of the purchased property;
• annual interest on the loan agreement is 9.5−11.5%, depending on the selected financial institution and lending program.

Today, on the most favorable terms, you can get a loan for housing in a new building at Raiffeisenbank. Here you have the opportunity to sign a loan agreement for a maximum of 25 years, the minimum loan size is 500 thousand rubles, the interest rate is 9.25%.

Mortgage currency

Russian banks provide mortgages to citizens of other countries in rubles, dollars and euros. It is more profitable to take out a loan in the currency in which the borrower receives his salary. This will help reduce financial losses in case of inflation.

Many people think that it is more profitable to take out a dollar loan, because... it has lower interest rates. This is a misconception, because... inflation can “eat up” not only the expected benefit, but also increase the amount of overpayment on the mortgage.

Read: How to get a loan with a residence permit

Reasons for refusals

Most banks do not lend to foreigners for one simple reason: their stay in the country may not be long. A migrant who has obtained a residence permit may lose it at any time. A residence permit can be canceled for violation of laws, for failure to fulfill obligations to the migration service, due to the lack of registration or place of work. Withdrawal of the residence permit will entail his deportation, which means non-payment of the mortgage loan.

State-owned banks refuse to issue mortgages to migrants on the basis of an increased risk of loan default. Another part of the lenders is accommodating to such clients, since many foreigners living in Russia do business here and already own real estate. However, even in this case, lending conditions will be strict, the repayment period will be short, and the down payment will be large.

Requirements for borrowers

A mortgage without Russian citizenship is issued:

• men and women over 21 years of age (in some cases over 20 years of age) and under 60 years of age;
• employees with a total work experience in the Russian Federation of more than 1 year, preferably in the same workplace;
• employees, military personnel, civil servants, entrepreneurs, students.

Some financial organizations additionally require a positive credit history, registration of the employer as a legal entity in a certain region, and a period of operation of the employing enterprise for more than 1 year.

Detailed requirements for borrowers can be found on the website of the selected banking company, by phone or at a regional branch. All consultations are provided free of charge.

Review of interest rates and other terms

Today, a migrant who has received a residence permit can apply for a mortgage from four Russian banks - VTB 24, Alfa-Bank, DeltaCredit and Unicredit.

How to Apply Online for a Mortgage

There are two ways to apply for a mortgage online.

1. Firstly, this service is offered on almost all official websites of banking organizations.
2. Secondly, an online mortgage application is completed on special aggregator websites.

The advantage of the second method is that the aggregator website displays information on all available offers. This means that a portal visitor can choose the most profitable mortgage lending program.

To apply for a mortgage, you need to go to the aggregator website or the website of the selected bank using the request “Mortgage to foreign citizens” or “Submit an application.” On the application page you should fill in the columns “Property value”, “Amount of down payment” and Term.” Essentially, this is an online calculator that will automatically calculate the percentage and suggest a suitable program.

If the proposed program is suitable, you need to click the “Fill out the application” button. An online application field will appear in which you will need to indicate your passport information, contact phone number and region of residence.

The completed online application will be sent to the regional branch of the banking organization. There it will be processed and the applicant will be called back. If the application is approved, the applicant will be invited to the bank for further approval of the transaction.

Statement

The application form is the same as for citizens of the Russian Federation. It contains the following information :

1. Full name, passport details, residential address.
2. Information about work activity (position, length of service, salary, field of activity of the company).
3. Information about family composition, a list of close relatives (only those who live in Russia must be indicated).
4. Information about existing real estate and vehicles (those registered in the Russian Federation).
5. Information about outstanding loans.
6. Required amount and period.

Most often, Russian citizens take out mortgages in the Russian Federation. Therefore, on our website you will find information about mortgages for them without a down payment, about the necessary documentation, about early repayment, about preferential offers, about programs, about the removal of encumbrances, about refinancing, about mortgages with bad credit history and about insurance.

Features of lending to foreigners

Federal Law No. 102 “On Mortgage” prescribes the basic terms of lending for foreign citizens. Thus, the borrower can be not only a Russian, but also a resident of another country or a stateless person. However, there are a number of reasons that determine the high risk of non-repayment of debt and force lenders to refuse loans or conduct a thorough check of the borrower’s identity:

• lack of access to information contained in databases of other countries limits the ability to verify the accuracy of the information provided by the applicant;
• minimal guarantees that a person will stay in Russia for a long time. The client has the right to return home or change his place of residence;
• The only confirmation of the borrower's solvency is a 2-NDFL certificate from a Russian employer. It is impossible to verify the authenticity of documents issued outside the country.

The requirements for foreign borrowers are quite stringent. The applicant must necessarily confirm the right to stay or reside in Russia, a certain level of income, compliance with the age of 23-65 years, and the availability of the amount for the down payment. Often banks (for example, Raiffeisen Bank) require a work permit, as well as a description of responsibilities at the current place of work, a list of positions before arriving in Russia. According to current legislation, certain categories of foreigners may not require a work permit:

• citizens who have obtained a residence permit in Russia;
• natives of the Republics of Kazakhstan and Belarus;
• employees of accredited branches of foreign organizations;
• representatives of the navy, airlines, media, athletes.

Some banks (for example, Tinkoff Bank) willingly offer mortgages to foreigners with a permanent place of work and a highly paid position, tax resident status, family, and children. When considering a mortgage application, the company's managers will also take into account the borrower's prospects for further stay and work in Russia.

Submission of papers and review deadlines

TIP : The application and documents can be submitted to the bank branch at your place of permanent residence or online through the bank’s website.

Typically, consideration of an application takes no more than 5 working days . However, when accepting papers from a foreign citizen, this period may be extended by several weeks, as the bank carries out additional checks and makes requests to the Federal Migration Service and other authorities.

It is quite possible for a foreign citizen or stateless person to obtain a mortgage loan from a Russian bank. Main conditions: availability of a residence permit, official employment and a high level of income.

Why is the question relevant?

Migrants who have been living in Russia for a long time are forced to look for rented housing.
At the same time, the cost of renting real estate is so high that it practically does not differ from the size of the monthly payment on a large loan. Therefore, many immigrants are interested in such banking services as mortgages for foreign citizens. In order not to make a mistake in choosing a bank, a mortgage lending program, or the nuances of completing a transaction, it is worth familiarizing yourself with the conditions and requirements of various financial organizations. In addition, it would be a good idea to read reviews from other foreigners who have taken out similar loans.

What documents will be required

The list of documents for obtaining a mortgage by foreign citizens with a residence permit is almost no different from the standard one. The package of securities is formed depending on the selected bank. It usually looks like this:

• foreign passport and its notarized translation;
• a document confirming the right to stay in the Russian Federation;
• A completed application form;
• other identification documents of your choice (for example, driver's license);
• income certificate in the form or sample of the bank;
• confirmation of employment;
• additional papers if necessary (diploma, document on marital status, birth certificates of children, etc.).

A similar package of documents will be required from guarantors and co-borrowers.

Important to know: Mortgage without a credit history – chances of getting approval

How does a mortgage transaction work - frequently asked questions

How to confirm a down payment on a mortgage

Is it worth getting a mortgage through realtors - pros and cons

After the initial approval of the loan application, it is necessary to select a property that meets the bank’s requirements. These again can vary greatly depending on the lender. But as a standard, it is required to confirm the absence of encumbrances and legal claims of other persons, the house should not be in disrepair, etc.

Are mortgages issued to foreign citizens for properties other than apartments? Yes, it is possible to purchase a residential building with land outside the city, a dacha, a garage, apartments, etc. If the bank’s lending program provides for any of the listed real estate options, a foreigner will be able to purchase it.

For finished housing you should provide:

• extract from the register of real estate rights;
• a copy of the seller's passport;
• technical documentation;
• document establishing the right of ownership;
• draft purchase agreement;
• evaluation report;
• certificate of registration and other papers depending on the situation.

When purchasing an apartment in a new building, foreign citizens must provide a draft construction contract and documents for the developer to the bank for a mortgage. If a loan transaction for finished housing involves the simultaneous registration of collateral, then an apartment under construction requires additional collateral.

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During the construction of the house and its commissioning, a pledge of existing real estate or a guarantee is required. After registration of ownership of the apartment, the apartment is mortgaged; at this stage, you will need to provide the bank with an appraisal report, an extract from the real estate register and technical documents, as well as insure the property.

When applying for a mortgage to invest in the construction of an apartment, you should choose developers accredited by the bank. It is easier to get such a loan, and cooperation with large lenders is a kind of guarantee of timely delivery of the house and the reliability of the construction company.