How to get a mortgage to build a house with no down payment

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It received approval of the bank for a mortgage loan. In the process of obtaining approval, he was constantly in touch with my bank manager Alex K s. All told in detail and answered all questions. I called him on his mobile number with questions on a public holiday. Alex was on vacation abroad, but vservno answered my questions. Thank you for your excellent work and for the fact that you are constantly on the ...

A couple of years ago, even before the crisis, we decided to take a mortgage, fed up to pay for rent someone else's apartment. My work has a salary plastic card Rosbank, so it turned to the credit institution. Bank manager looked over our documents and for a short period approved our application. At the same time the bank's lawyers looked and checked the documents seller apartment. Now…

Good afternoon! My story with Tinkoff Bank began with the fact that send a request to the bank for a mortgage, I received a message that the loan is pre-approved, I upload a document and three days later received the approval of the three banks: Absolut, Ak Bars and UniCredit, began to pick their own object ( Resellers), I called Tatiana (the name can not remember) from the group of customer support and began gently ...

Dear bank managers, please consider the possibility to reward the manager for mortgage lending - Gogueva Rustam. I am a customer of your bank's mortgage product, before I had a few managers and I have something to compare. Despite the fact that he was both phones are broken, it not only makes everything very quickly, but still have time to call each client. I have had…

tsiprivuz, Moscow

It received approval of the bank for a mortgage loan. In the process of obtaining approval, he was constantly in touch with my bank manager Alex K s. All told in detail and answered all questions. I called him on his mobile number with questions on a public holiday. Alex was on vacation abroad, but vservno answered my questions. Thank you for your excellent work and for the fact that you are constantly on the ...

How to take a mortgage on a house without an initial fee

Good day, dear readers «RichPro.ru» financial magazine! Today, we continue to talk about mortgage loans and talk about mortgages without down payment: how can you take it in 2018, and which banks are willing to issue a mortgage without a down payment.

In this article you will learn:

  • What is the initial payment on the mortgage, and where it is going;
  • What features of mortgages with zero first contribution;
  • What methods are there for a mortgage with no money for the initial payment;
  • In what bank you can get a mortgage without a down payment;
  • Who will help in the design of the loan for purchase of housing.

At the end of this publication you will find the answers on the mortgage without a down payment, which arise in the majority of applicants for such a loan.

The article will be of interest to all who are interested in mortgage lending. Special attention is to be paid for submitting publications advise those who want to arrange a loan for the purchase of their own homes, but does not have enough money to make a down payment.

As the saying goes, time - money! So do not waste a minute, start reading right now!

A mortgage with no down payment - how to take it and what banks give
To learn how to get a mortgage without a down payment: what are the most popular ways in which bank can get a loan without a down payment - read this release

  • 3. How to get a mortgage with no down payment - Top-7 design options

1. What is the initial payment on the mortgage and what is it for

Initial payment when you make a mortgage is the part of the cost of purchased property, which must be available to the borrower for a loan at the bank.

Depending on the mortgage program the initial payment may be absent, or may reach 90 % of purchased property prices.

Traditional sources of down payment can be:

  • money accumulation;
  • consumer credit;
  • existing property to be sold.

Borrowers should keep in mind that if there is an initial payment in the amount exceeding 70 % of the purchased apartment, it may be advantageous scheme replacing the mortgage consumer credit .

Such an approach will not only greatly simplify the procedure of registration of the loan, but also reduce the level of necessary expenditures. This is due to the fact that consumer credit no commission and insurance benefits inherent in the mortgage.

However, the scheme described above is not for everyone, because usually the decision on registration of a mortgage take citizens who as a down payment has a much smaller amount.

Today, banks make it possible to arrange a mortgage with very little down payment and even its absence.

But it is worth bearing in mind that the calculation of the possible loan amount the bank takes into account the cost of apartments, which will be installed in the analysis of the property appraiser .

If the seller set the price for the apartment above evaluation, the minimum down payment is unlikely to do. The Bank calculates the maximum possible amount of the loan based on the appraised value .

The difference between the proceeds received in the course of calculating the amount of the mortgage and the market price of apartments fully rests on the shoulders of the borrower and must be paid as a down payment.

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2. Features of the mortgage without a down payment

Mortgage, for which there is no initial fee, risky for both the credit institution, and for most borrowers.

Until 2008 the year mortgage programs that do not require savings, have been widely distributed throughout Russia. At that time, property prices have grown much faster than was possible to accumulate an amount sufficient for a down payment.

However Burst economic crisis led to the fact that many banks had to abandon the mortgage lending program without a down payment. And this happened even in spite of higher rates on such programs.

However, when you make a mortgage without a down payment risks are high, not only credit institution, but also of the borrower.

If the solvency of the debtor for any reason, to fall , after the implementation of the apartment he probably will not get anything at all. This is due to the fact that in the early years most of the payment goes to pay interest. The amount of debt, however, remains unchanged.

If the price of the apartment after the purchase will drop, it is probable that the borrower will owe the bank even after the sale of mortgage apartment.

Many borrowers believe that the mortgage is for them an ideal option, which will replace the rent deposit funds of their own apartment.

It should take into account the following circumstances:

  1. usually monthly payments on a mortgage is much greater than the lease;
  2. may require at least minimal accumulation at that time, when it is necessary to pay for the mortgage, but even from the lease can not be avoided ( eg , the apartment has not yet been issued, being repaired and other reasons).

The state has made every effort to make mortgages more affordable. Therefore, lending to developing actively to buy housing with a minimum initial payment.

Today AHML ( Agency for Housing Mortgage Lending ), whose units are open in most Russian regions, offers a mortgage program with a contribution of 10 %.

But it is necessary to bear in mind that these conditions provide for the conclusion of additional insurance contracts . Quite naturally this increases the total amount of the overpayment.

Most banks do not welcome a mortgage without a down payment, so as a lack of savings may be indicative of low income and poorly organized financial discipline.

Experts advise to future borrowers to check the reality of the mortgage payment. It's enough for a long period ( at least six months ) to hold off on a separate bank account a sum of money in the amount of the proposed loan payment.

If any problems with this do not occur, and the remaining funds will be enough to live on, it is safe to issue a mortgage. In this case, the accumulated funds can be used as an initial payment or as a financial reserve in case of any problems.

Mortgage program without a down payment can be difficult to find. Therefore, those who have no means to pay it raises another variant of registration of the mortgage - to get funds for a down payment through consumer credit . To learn how to take a consumer loan, we were told in a previous article.

In this case, it should be borne in mind that the interest rate on this loan is much higher. But also be able to repay it in a much shorter time.

Those who choose this way of mortgage registration, should be borne in mind that the payment will be much higher in the early years, because have to pay two loans at once. That is why you need to carefully assess their financial capabilities.

How to get a mortgage with no down payment - methods
Popular options for obtaining a mortgage without a down payment

3. How to get a mortgage with no down payment - Top-7 design options

The economic crisis led to a decline in popularity of mortgage lending in Russia and the former Soviet Union. Statistical data show a significant drop in demand for mortgages over the previous two years by almost 20 %.

Experts suggest that in the absence of changes in the economic situation in Russia, the decline of mortgage lending will continue. In such circumstances, lenders are forced to relate to potential borrowers are more loyal, as well as to develop more attractive mortgage programs.

In this case, banks can not afford to lower the rate to 10 %. Under the current inflation, this will lead to mortgage lending unprofitable.

In a crisis, lenders do not welcome the issuance of a mortgage without a down payment. Nevertheless , there are several ways that allow the borrower to get a loan without sufficient savings. To learn how to get a mortgage for an apartment or other accommodation, we wrote earlier.

Option 1: Preferential mortgage programs

For vulnerable categories of citizens the state has developed several programs that aim to help improve the living conditions. On what programs are now in the place of residence of the applicant, can be found in the local authorities .

Most often, the benefits provided by the military , young families and young teachers . Mortgage for the first category is different scheme implementation, so it will be considered separately.

Use social mortgage can citizens, whose age does not exceed 35 years . To participate in the program, you need to contact the local authorities to confirm the need to improve housing conditions.

If a positive decision on the participation in the project applicant will be placed in a queue to receive housing certificates . Once assistance is available, there are several options for its use. The most popular is the direct subsidized funds to pay down payment .

Please note that usually the amount of subsidies does not exceed 10 % of the cost of housing. Therefore, banks are developing mortgage programs with state support, set the initial contributions at this level.

There is another important condition - the limited duration of the housing certificate . He is 6 months , it was during this time should be to pick up the bank, to find suitable accommodation before the end of the process the deal.

It is important to bear in mind that the right to work with the social mortgage is only for those banks that are partners AHML .

Option 2: Military Mortgage

This option is ideal for those who decided to arrange a mortgage, not having the funds to make a down payment. But this method is only available in the military.

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several steps must be overcome to obtain the military mortgage:

  1. Become a member of the accumulative mortgage system;
  2. Through 3 years from the date of registration in the program to apply to Rosvoenipoteku;
  3. Upon receipt of a permit for a mortgage in the previous step to find a bank that works with the military mortgage;
  4. Choose the appropriate residential property, which can be located in any region of the country;
  5. Sign the necessary documents and become the owner of an apartment or house.

The advantage of the military mortgage is that the participants of the program of the Russian Federation Ministry of Defense contributes not only to the initial payment , but also the subsequent monthly payments .

But there are limitations:

  • the right to grant valid if diligent performance of official duties;
  • the maximum amount of subsidy is 2,2 million rubles.

It should also be borne in mind that until the full repayment of the mortgage housing will be burdened with a double guarantee - by the bank and the state.

This means that to dispose of property at his discretion ( for example , sell or donate) soldier will not succeed.

Option 3: Mortgage with maternal capital

Maternity capital is one of the ways to get help from the state. The grant is given to families in which there was a second child.

Maternity capital as the initial payment on the mortgage
The use of funds of the parent capital as the initial payment on a mortgage

One of the directions of use of the grant is to make an initial fee when you make a mortgage loan.

To date, the size of the parent capital is 426 thousand rubles . On average, this amount is sufficient to cover about 20 % of the cost of housing. Therefore, the parent capital is usually sufficient for the payment of the first installment.

An important factor is the fact that when you make a mortgage to take advantage of the parent capital can be immediately after birth (in contrast to other use cases where it is necessary to wait 3 years).

Before the grant will be transferred to a credit institution, the applicant will need to obtain permission from the Pension Fund , which is drawn up to 2 months.

Given this sequence of actions for the borrower will be as follows:

  1. Search the developer or the owner of the finished apartments , who agree to sell the property with the use of the parent capital;
  2. Obtaining permission of the Pension Fund to use maternity capital for the acquisition of property;
  3. Search a credit institution and therefore the choice mortgage program , where you can arrange a loan for the purchase of housing by using as the first installment maternity capital;
  4. Applying for a mortgage ;
  5. If approved, the signing of contracts , the introduction of the first payment the state certificate registration of home ownership with the imposition of burdens.

By the way, those who already have a mortgage, have the right to send the maternity capital to pay off the principal debt under the contract.

Option 4: Market shares

Today, many banks to attract customers to develop a variety of actions on the mortgage , including its registration with zero down payment . Most often such actions are carried out in cooperation with developers, who want to increase sales.

Such a variant can not be considered sufficiently reliable. We'll have to wait quite a long time, when the action starts. In addition, the choice of the real estate similar programs traditionally limited.

Option 5. Mortgages secured by existing real estate

Another version of a mortgage with no money for a down payment - to use in place of the existing real estate property .

Most banks can easily go for it, as such an arrangement is beneficial for them. For borrowers, this option is fraught with significant risks.

There are a number of conditions imposed on the property, which is expected to pledge:

  1. the use of accommodation;
  2. High liquidity of real estate;
  3. being in a certain area of ​​the bank.

It should be borne in mind that the amount of the loan secured by real estate usually does not exceed 70 % of the real value of the property.

Option 6. Collateral

As an additional security, which will replace the initial payment, can act pledge any property .

This can be not only property, but also the following assets:

  • car;
  • plot;
  • precious metals;
  • securities.

As collateral, credit institutions usually take highly profitable investments . Bank experts well versed in investing, so is unlikely to agree to accept the dubious assets.

Option 7: Preparation of the initial payment by the consumer credit

Previous versions are not equally shared. Many citizens do not have to, they do not state support put expensive property ownership.

In this case, some dare to design a consumer loan , which was subsequently sent to the down payment paid . Sometimes lenders even offer special programs. In a separate article we have already mentioned, as well as where to get a loan without failure.

Experts recommend to resort to such an option as a last resort. Do not forget that the burden on the family budget at the same time will increase considerably .

In this case, you first need to apply for a mortgage, and consumer credit is issued only after its approval. About where to get a loan without giving up, we are told in the previous material.

Statistics show that most of the problems with the payment of the mortgage is connected with the need to repay several loans simultaneously.

Thus, even in the absence of funds for the first deposit, there is a chance to get a mortgage. It is important to explore all the existing possibilities and make the right choice.

Which banks give mortgages with no down payment - a review
Overview of banks, where you can get a mortgage without a down payment

4. Which banks give mortgages without down payment - the top 5 banks with the best terms and conditions

In the fight for customers more and more banks are developing terms of mortgage lending, providing no down payment . However, not all programs can be considered beneficial for the borrowers.

To understand what conditions are most favorable, it is necessary not only to study, but also to compare the different program banks. It is natural that the best interest can be found in the largest credit institutions of the country.

The following table shows the interest rates in the 5 best ones:

numberCredit organizationProgramRate (APR in%)
1. Alfa BankMortgages secured by residential real estate12.3
2. savings bankMortgage loans with the parent capital12.5
3.VTB 24military Mortgage13.0
4.Credit deltaConsumer loan for the down payment on a mortgage15.0
5.ZapsibcombankMortgage loan with no down payment16.0

5. Brokers Help in getting a mortgage with no down payment

Find the best mortgage program can be difficult. On the market today offers a huge number, which should not only analyze but also to compare .

Difficulties with the selection of the mortgage program becomes even more if the borrower has no funds to make a down payment, as well as the right to receive government subsidies.

Facilitate the search process, and save time for its implementation to help mortgage brokers . They are specialists who are well versed in all the intricacies of operating in the credit products market.

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It is only natural that the brokers for their work take a commission . But given the fact that very often they seek for the customer the most favorable conditions, the borrower will eventually remain in the win.

In large cities, there is usually a lot of brokerage firms . In small communities, professionals often act on the basis of real estate agencies .

It is important to choose a broker with an impeccable reputation.

In the capital leaders in the mortgage brokerage services market are:

1) Royal Finance

Mortgage Broker Royal Finance

Employees of this broker have extensive experience in various credit institutions.

Therefore, they are well versed in all the intricacies of a mortgage.

2) LK-credit

LK-broker credit - assistance in obtaining a mortgage with no down payment

Despite the fact that the company is on the brokerage market recently, it has already managed to win thanks a huge number of customers, as well as an impeccable reputation.

It does not require to make any payment, and all fees collected exclusively in accordance with the contract.

3) Credit Laboratory

Credit Laboratory will get a mortgage without a down payment

Employees of the company have extensive experience gained over many years of fruitful work.

This helps the borrower to prepare the most extraordinary demands of the banks.

Thus, a large number of mortgage brokers operating in Russia. When choosing with whom cooperation will be carried out, the main thing is not to get to the fraudsters .

The main feature that differentiates them from conscientious helpers - the requirement to make a commission even before anything is done .

6. Frequently Asked Questions (FAQ)

Making mortgage - no easy task. It becomes even more complicated if the funds for the first deposit no.

It is only natural that this process causes a lot of questions. Answers to the most popular of them will try to continue.

Question 1: Is it possible to get a mortgage without a down payment and collateral property?

The bank has consented to the registration of mortgages need to perform one of the following conditions:

  • have a reliable guarantor;
  • are eligible for government subsidies;
  • availability of valuable property, has a sufficiently high level of liquidity.

Only in these cases it is possible to find programs that provide for the lack of down payment.

Some applicants for mortgages naively believe that to obtain the approval of the application of the acquired property is sufficient collateral. But it is fundamentally not true .

Encumbrance to the apartment is a prerequisite for the mortgage lending and can not cancel the need to make an initial payment. It turns out that the deposit is made mandatory.

Question 2: Is it possible to arrange a mortgage from the builder, without a down payment?

Developers all the forces fighting for every customer.

To speed up the sales of apartments in the constructed houses construction companies often enter into agreements with banking institutions that offer a variety of unique programs to attract borrowers. In addition, in some cases, you can receive a loan directly from the developer.

In the first case, the mortgage registration is carried out through the bank . Thus it is possible to identify a number of advantages in comparison with a situation where there is no agreement with the developer.

Here they are:

  1. more loyal to credit conditions;
  2. mostly developer staff consult and help put together a package of documents, which they themselves and transmit to the bank;
  3. expedited consideration of an application;
  4. a higher probability of a positive decision.

A feature of the second variant is that contact the bank will not have to . The loan agreement will be signed directly with the construction company.

In this embodiment, there are significant advantages:

  • It does not need to submit documents on income;
  • failure is unlikely;
  • there is no need to issue insurance.

But there is a significant minus - the contract period is typically less than 1 year. In very rare cases, developers agree to issue it to 2-3 years.

It turns out that such an embodiment is a conventional installments .

Question 3: Should I take out a mortgage on the secondary housing with zero down payment and whether this benefit?

Many people who want to acquire their own housing, no money to make a down payment. In these circumstances, a mortgage without initial payment may be the only solution. But it's best to try to find an opportunity to make at least some amount as a down payment.

The fact that the complete absence rate is traditionally higher by at least 3% . Given the large amounts of time and a mortgage overpayment can be enormous.

The loan amount when you make the first payment will be much less . This leads to a reduction not only overpaid, but also the size of the monthly payment.

In any case , experts recommend carefully analyze all possible programs.

Often, after a simple calculation of the future borrowers free to decide to give up a mortgage without a down payment. Instead, they set aside money for a few years until the accumulated amount of the initial payment .

If you are unable to wait for the moment when the funds will be accumulated for a down payment, have yet to use the program with its absence.

7. Conclusion + video on

For many mortgage without a down payment becomes the only option to live in his own apartment. Contents it can be difficult, especially in cases where no right to assistance from the state.

However, nothing is impossible . The main thing is not to lose heart and to carefully analyze all the offers available on the market.

In conclusion, I recommend you watch the video on the mortgage with no down payment:

online magazine Team «RichPro.ru» wants his readers to draw the most favorable mortgage and hopes that it will be able to pay off quickly and without problems.

If you have any questions on this topic, ask them in the comments below. Also would be grateful if you would appreciate our article and share it on social networks with your friends. Until we meet again!


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