Description of the mortgage lending program based on two documents
“Victory over formalities” is the name of the mortgage program, according to which a loan decision is made on the basis of only two documents.
The loan is provided for a fairly long period - 20 years , the loan amount is also impressive - up to 30 million rubles . Moreover, the loan received can be used not only to purchase housing, but also to refinance an existing loan from another bank.
But there are certain conditions that the borrower must comply with in order to participate in this program. The first and most important thing is the size of the down payment; it must be at least 30% of the value of the purchased property.
Not only employees, but also business owners and individual entrepreneurs can participate in the program. Among the latter, by the way, this program is in great demand, since there is no need to collect a huge amount of credit documentation.
Initial contribution to VTB 24
The bank has a number of programs that provide for the absence of this payment, for example, this is associated with a military mortgage, when this down payment for a citizen is made by the Ministry of Defense.
There is also a program for issuing mortgages without a down payment at all, but in this case the interest on this loan will be quite high.
If you participate in all other loan programs related to the purchase of an apartment, you will still have to make a down payment. This amount is at least 20% of the total cost of housing. It is not forbidden to deposit more money, but you still won’t be able to give less.
Requirements
The conditions for providing a mortgage loan under the “Victory over formalities” program are not very different from the conditions of other mortgage programs.
What documents are needed:
- application form;
- passport of a citizen of the Russian Federation;
- original and copy of SNILS. If the borrower is a military person, or an employee of the Ministry of Internal Affairs, the Ministry of Emergency Situations, the FSB, and is not required by law to have this document, then he must provide a TIN. Its number is indicated in the application form;
Borrowers under 27 years of age must present military ID.
If a foreign citizen wishes to participate in the program, he must present:
- passport of a foreign citizen;
- a notarized copy of the passport;
- notarized translation of the passport into Russian;
- visa or migration card;
- original or copy of a driver's license, or international passport (original and copy of pages with personal data).
Bank employees may also additionally request a marriage certificate or marriage contract.
If the purpose of obtaining a loan is to refinance another loan, then it is necessary to provide VTB employees with a certificate from a third-party creditor bank.
The certificate must be stamped and signed by an authorized employee with a transcript. It should also contain information about the amount of the remaining debt, the absence of fines and delays, information about how the loan was repaid throughout the entire loan period.
The requirements for the borrower are very simple; there is no need even for permanent registration in the region where the mortgage is issued. The borrower can be an individual entrepreneur, a legal entity, a citizen of Russia and a foreign citizen.
Housing requirements: the subject of the mortgage can be housing on the secondary market, as well as in a new building.
Requirements for the borrower and necessary documents
The bank's requirements for the loan recipient are simple: availability of work in Russia and citizenship. He must provide an identity card (passport) and SNILS; for men under 27 years old, you must additionally bring a military ID. Under the program, loans are provided without proof of income.
To increase the client's solvency, it is allowed to attract guarantors. They may be close relatives or a spouse, who are involved first. Ownership of real estate can be registered either individually in the name of the borrower or jointly with him and his legal spouse. If the client fails to repay the loan, this responsibility falls on the guarantor. The documents for the guarantor are the same as for the borrower.
To obtain a mortgage, registration is not required.
Conditions
Loan rates are 10.7%. But the rate may change, for example, for those who receive salaries on a VTB card, it can be 9.7%. Loan terms from 1 year to 20 years.
Loan amounts start from 600 thousand rubles. The maximum loan size is 30 million rubles. But it is available only to residents of Moscow, the Moscow region and St. Petersburg. In other regions, you can get no more than 15 million rubles under this program.
Other conditions:
- the amount of the down payment must be no less than 30% of the cost of purchased housing in a new building, no less than 40% of the cost of real estate on the secondary market, and no less than 50% when purchasing apartments;
- Maternity capital cannot be used in this program;
- the total monthly income must be at least 38 thousand rubles.
In addition, the borrower’s total work experience must be more than 1 year.
Features of the “Victory over formalities” program
Express will cost a little more, only 0.7% higher than the standard rate, for the speed of processing and the lack of information confirming income and employment.
According to the program you can:
- buy a house as part of shared participation;
- select an object on the secondary market;
- refinance the existing mortgage agreement.
When selling residential premises, a legal entity must have copies of:
- charter, decisions on the creation of a legal entity and approval of the director, with amendments and additions registered with the Federal Tax Service;
- certificate of registration of a legal entity;
- notifications from the Federal Tax Service regarding registration, issued no later than 60 days before the date of signing the purchase and sale agreement;
- certificate of registration in the Unified State Register of Legal Entities;
- director's passport
If the interests of a commercial organization are represented by an employee or other person - a notarized power of attorney .
How to get a mortgage using 2 documents
There is such an algorithm for obtaining a mortgage using SNILS and a passport:
- To get started, fill out the online form at https://www.vtb24.ru/mortgage/request/#/0402/50/00/01/01.
In addition to personal data, you need to enter information about the employer and the mortgaged property. - Wait for a response to your application. The bank will make a decision within 24 hours after sending the questionnaire. The decision is valid for 4 months.
- Decide on the property you are purchasing.
- Come to the bank office and present documents for the apartment for verification.
After verification, the borrower can conclude a transaction to purchase real estate at any VTB branch.
Mortgage for secondary housing
To submit an application for the purchase of secondary housing to the bank for consideration, you must complete a number of documents:
- Two identification documents. This includes directly the passport of a citizen of the country, as well as a driver’s license, military ID, and so on;
- A certified copy of the work record book, where the employer must make an official note that the employee continues to work to this day;
- Certificate 2-NDFL, aimed at confirming a person’s income level;
- If a citizen has any additional income, then he will also need to provide the corresponding declaration from the tax service;
- Certificate of compulsory pension insurance;
- Documents relating to the acquired property.
Insurance
An interest rate of 10.7% applies if comprehensive risk insurance is carried out. For housing on the secondary market, it is necessary to insure the following risks:
- loss of life and ability to work of the borrower;
- loss or damage to the purchased apartment:
- termination or restriction of ownership rights during the first 3 years after purchasing an apartment.
Moreover, insurance against the risk of loss and damage to the apartment is mandatory. When purchasing housing under construction, you must obtain personal insurance and insurance for the property after construction is completed.
If the client refuses comprehensive insurance, the interest rate increases by 1%.
VTB provides a fairly comprehensive list of insurance companies with which it works. But it does not limit the borrower’s choice only to them. You can always arrange insurance with the company that suits you best.
Just first send the bank a package of company documents for verification at the address 101000, Moscow, st. Myasnitskaya, 35
If the company meets the bank's requirements, it will be included in the list within 21 from the date of receipt of the documents.
Mortgage repayment
There are several ways to repay a loan. You can always choose the most convenient one:
- VTB-Online. To do this, you will need to contact the bank branch in advance and register with the service;
- VTB ATM. It’s even more convenient to do this if you link the VTB card to the mortgage agreement;
- cash desks in branches. You can make payments yourself or through intermediaries;
- another bank. In this case, the transfer is carried out with a commission;
- branch of the Russian Post.
VTB provides its clients with the opportunity to repay the loan early or in full without fees or penalties. You can do this:
- at the bank office;
- through the VTB-Online service;
The procedure can also be carried out by calling the customer service center. To do this, you need to call 8 800 100-24-24 and answer the questions of a bank specialist.
Calculating a mortgage loan using an online calculator
In order not to lose the collateral and get rid of financial risks, you need to assess your own capabilities before applying for a mortgage. To do this, you need to calculate the payment amounts using a special calculator. Its essence is to enter into the provided fields known data on the terms of the loan, on the basis of which the system issues a schedule for the payment of obligatory amounts.
You will need to indicate the following information: the cost of the apartment indicated in the expert’s conclusion after a special assessment, the amount of advance payment that the client plans to pay, the repayment period, the rate verified according to the previously specified data, the method of repaying the debt.
If a loan with a floating rate is selected, then the calculation can be performed only for the period for which the client has up-to-date information on interest.
Bonuses from VTB
All bank clients who have a car loan, mortgage or cash loan can participate in the Collection program. This program allows you to accumulate bonuses for using bank products, and then pay with them when purchasing goods or services from the bank’s partners.
Also, clients who regularly pay their mortgage without delays can receive a cash loan at a reduced rate of 13.5% using the “Mortgage Bonus” program
Pros and cons of a mortgage based on 2 documents from VTB
Clients note a lot of advantages of the program:
fast approval;- minimum documents;
- the loan received can be used to refinance other loans from VTB or third-party banks;
The convenience of this type of mortgage loan is appreciated by businessmen and individual entrepreneurs who do not need to collect a huge amount of documents.
The disadvantages include the following:
- an impressive down payment amount of 30%, and for some types of housing even 50%;
- approval does not always come at the time indicated on the website; in fact, you have to wait longer.
In addition, users include the inability to use maternity capital as a disadvantage of the program.
What kind of housing can be purchased without proof of income?
Without proof of income, within the framework of the mortgage program, you can buy both housing under construction (primary) and finished (secondary), as well as refinance an existing mortgage loan.
Secondary housing is not always an old apartment. This means real estate for which ownership has already been registered - this could very well be an apartment from the developer in a new building that has been commissioned.
You can choose real estate yourself or with the help of VTB partners, who offer preferential conditions for purchasing housing. Also, turning to the mediation of realtors will save time. Consultations can be obtained directly from a partner company or from banking centers involved in obtaining mortgages.
