For most residents of Russia, mortgages remain the only way to get their own housing. To find the most profitable option for mortgage lending, borrowers choose a creditor bank according to criteria such as interest rate, down payment amount, overpayment, seniority at the last job, proof of income, additional fees, amount of compulsory insurance.
The best banks for mortgages in 2017 - we selected 10 credit and financial organizations offering favorable conditions for mortgage lending. Recall that the borrower can count on the minimum interest rate only if certain conditions of the bank are met. It should also be borne in mind that when applying to your “salary” bank, you can count on bonuses in the form of an accelerated application review process, the provision of a minimum package of documents and possible benefits at the loan rate.
When choosing a financial institution with the most favorable conditions for mortgage lending, you need to find out if the borrower does not fall into special programs designed for certain categories of citizens. This can be a social mortgage, a mortgage for a young family, young professionals or military personnel.
10. VTB Bank of Moscow
Among the best banks for mortgages over the years include VTB Bank of Moscow. For those wishing to purchase housing in the secondary market, it offers good conditions for mortgage lending. The loan term is from 1 year to 30 years. Minimum down payment is 10%.
The main loan rate is from 10 to 11%:
- 10% per annum for the bank’s salary clients (this includes government officials, teachers and doctors from People of the Case);
- 10.5% per annum for borrowers from the “People of the Case”, who are not salary customers of the bank;
- 10.7% per annum - for all other payroll clients;
- 11% per annum - for other borrowers.
If the borrower refuses personal and title insurance, the loan rate increases by 1%.
The Bank does not charge a fee for considering a loan application. The term for consideration of the application is from 1 to 4 business days.
Pros:
- low interest rate;
- discounts to certain categories of customers;
- accounting for maternity capital as an initial contribution.
Minuses include limiting the minimum amount of partial early repayment of a mortgage loan at VTB Bank of Moscow.
The loan is provided for up to 30 years.
9. Deltacredit
You can apply for a mortgage on favorable terms at the bank "Deltacredit".
The minimum loan rate is 10%. The down payment is 15%. The loan is provided to the borrower for up to 25 years. One of the advantages of applying for a mortgage at Deltacredit is that it is not necessary to have Russian citizenship. For salary clients, the bank provides a discount of 0.25% of the mortgage rate. Holders of maternity capital can use it as a down payment or use it to repay part of the loan.
8. Moscow Mortgage Agency
Some of the best banks for mortgages include Moscow Mortgage Agency with the Social Mortgage program. Any citizen of the Russian Federation with an experience of more than a year can become its member. The minimum mortgage rate is 12%. The loan is provided for up to 30 years. The minimum deposit is 20%. Minus - mandatory registration of personal insurance of the borrower. In case of failure, the bank significantly increases the lending rate - by 3.5%.
7. Gazprombank
Gazprombank - One of the best banks where you can get a mortgage for the purchase of housing in the secondary market on favorable terms for the borrower. If the client is able to make a down payment of 50% and agrees to get a loan for up to 7 years, the interest rate on the mortgage loan will be 10.8%. Other clients can use a mortgage with state support. Plus a loan at Gazprombank - if the borrower refuses personal insurance, the interest rate remains unchanged.
6. Russian Agricultural Bank
For those wishing to purchase real estate in a new building or housing under construction, a good choice will be Russian Agricultural Bankoffering good conditions under the state mortgage program. The minimum rate is 9% per annum. The down payment is greater than at some other banks - at least 20%.
5. FC Discovery
Some of the best banks for mortgages include Otkrytie FC. At 11.5% per annum, real estate in the secondary market can be acquired by citizens of the Russian Federation with at least 1 year work experience who can document their income. Salary customers of the bank can expect a discount of 0.25% of the loan rate. A loan is provided for up to 30 years. The minimum deposit is 20%.
4. Sberbank
One of the best banks for mortgages, Sberbankoffers many loan programs. Those who wish to purchase housing in a new building can apply for a mortgage, the minimum percentage of which is 11.5%. For customers interested in the secondary market, the bank can offer other options with a credit rate from 12.5% to 14.5%. The rate is determined individually for each borrower and depends on such factors as the presence of a “salary” client status, the amount of the down payment, the borrower's consent to life insurance.
Minus - in case of cancellation of insurance, the interest rate increases by 1%.
3. Uralsib
Among the best banks providing mortgages are Uralsib. The minimum loan rate for the purchase of finished housing is from 11.75%. For borrowers who want to buy real estate in a new building, there is a more profitable option - in this case, the minimum rate will be from 10.40%. There is a discount for customers of the bank’s partners - they can arrange a loan at a rate of 11.5%. Loan term - from 3 to 25 years. The down payment is 10%.
2. Raiffeisen Bank
Raiffeisen Bank - One of the best banks for mortgages. The minimum loan rate is from 11%. Applications are considered within 2 to 5 business days. For bank customers, there are preferential terms: a simplified package of documents and the possibility of lowering the mortgage rate. Often the bank holds shares with developers.
1. Alfa Bank
Some of the best banks for mortgages include Alfa Bank. The borrower can count on a minimum rate of 11% and a quick examination of the application. Alfa-Bank operates under the following programs: “Assign your rate”, “Assign your insurance”, “Mortgage with maternity capital”, “Mortgage with state support”. For “salary” clients, the interest on the loan is from 9.75%. If the borrower is ready to make a down payment of 50% of the loan amount, the interest rate is reduced to 10%.