How a mortgage is issued step by step, all the stages and nuances of the transaction. Basic conditions for issuing a loan. Documents for obtaining a mortgage loan

Buying an apartment is serious business. Many parties are involved in the process, although the main ones are the buyer with the seller and the creditor who finances this transaction. You will also have to collect a lot of documents and, possibly, spend a lot of time agreeing on the terms of the loan. However, it only seems that getting a mortgage is something impossible.

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The preliminary stage can also be divided into 3 parts. The first will be to find a suitable loan offer. It is assumed that before going to the bank, you are at least a little familiar with the general situation in the mortgage market, the average rates and conditions that you can be offered. This can be done on thematic sites, the resources of the banks themselves, mortgage brokers or forums.

The second part is the search for real estate that you will buy on credit. At this stage, you will have to decide whether you are looking for suitable apartment on your own or contact a realtor. If you save on the services of intermediaries, then, again, you should independently find out what requirements banks impose on future collateral.

The third part is exploration. It's time to pay a visit to the selected bank, talk with a loan consultant in advance, clarify the conditions and take a list of documents that will be required to apply for a loan.

Pre-Approval

This stage is also worth highlighting separately. It involves the process of collecting documents and submitting them to the bank for consideration. There will be many documents
- proof of identity, marital status, etc.;
- evidence of income;
- for purchased housing.

The bank, having carefully considered the evidence of your creditworthiness and trustworthiness provided by you, having familiarized yourself with your choice of housing, will issue a preliminary verdict. This is not yet the conclusion of a loan agreement, but a big step towards it.

Choice of lender

And here it is impossible not to say that even with prior approval, you do not need to stop at this bank. You can submit the same package of documents (photocopies) in 2-3 financial structures. This will save time in case of failure of one of them, because each bank can consider documents for a mortgage for several weeks. And if you get approval from all creditors, you will get the opportunity to choose the most favorable conditions for you.

Directly design

Registration mortgage loan is not just the signing of a loan agreement, which in itself could be carried out as a separate stage. The registration includes the assessment and insurance of the purchased property, the coordination of the clauses of the contract, its signing, and the registration of the transaction in the relevant authorities.

At the same time, you usually do not need to look for an insurer and an appraiser, banks offer those specialists with whom they themselves worked. But it’s worth looking into the text of the agreement personally - and do it before the day of signing, asking the bank for a typical mortgage agreement form. Do not rely on the words of a consultant - he may forget or keep silent about something.

Entrusting mortgage registration to intermediaries and technologies

If the process seems too complicated for you, you can always ask for help. As already mentioned, when choosing real estate, you can contact realtors. Most of these specialists are familiar with the requirements that banks put forward for mortgaged housing, and this is an additional time saving.

Questions related to loan documents, the choice of a loan program and the approval of a lender can be entrusted to a mortgage broker. Of course, such specialists can be found so far only in major cities, but their services are increasingly presented at a good level.

I would like to mention one more innovation. In an effort to save time - theirs and borrowers, and at the same time their expenses, many lenders allow you to leave

Welcome! Mortgage at first glance is quite a complicated process. In this post, we will walk you through the steps involved in applying for a mortgage so that you have a clear picture of the entire transaction. Step-by-step instruction buying an apartment with a mortgage will help you understand what needs to be done at each stage and what you need to pay special attention to.

So, a mortgage from scratch. Let's start dealing with this issue.

Recently, more and more Russians are deciding to buy a home with a mortgage loan. This scheme has its advantages: you do not need to borrow money from relatives and friends, you immediately register the apartment as a property, and you can pay off the loan in accordance with your needs.

Unlike consumer credit where the collateral is a surety individual or not at all, in mortgage lending, the collateral is real estate, which is bought by a bank client. This means that an encumbrance is imposed on the apartment (without the consent of the bank - the lender it will be impossible to sell, donate, re-register square meters), but you can live in it, make repairs, etc. After the obligations are repaid, the encumbrance is removed.

Since in most cases an individual does not have enough own funds, mortgage loans are characterized by a significant loan amount (from 300,000 rubles to several million), a long loan period (up to 30 years).

When applying for a mortgage loan, you can choose a debt repayment scheme: annuity payments or differentiated payments. In the first case, payments are always the same size, interest is distributed over the entire loan period. With differentiated payments, the amounts decrease: at first, the contributions are maximum, then they gradually decrease, interest is charged on the balance. What type of payment is more profitable? With differentiated payments, especially with a maximum term, the amount of the overpayment will be less, but the income of the borrower (or family) should be higher.

You can learn more about housing in our last post.

Let's start to understand how a mortgage is issued step by step.

Step-by-step instruction

In summary, the main stages of a mortgage transaction:

• search for a lender (determining the amount and conditions for issuing funds, approving the application),
• selection of housing options, approval of the application at the bank,
• signing a loan agreement and a purchase and sale agreement,
• registration of the transaction, registration of housing in the property.

Getting a mortgage is a big deal. If knowledge and time are not enough for an independent analysis of the mortgage lending market, you can use the services. For a certain amount, the specialist will select the most advantageous option depending on your capabilities and wishes.

If the budget is already limited, you should independently consider the offers of banks and choose the right offer. By visiting bank branches or official websites of companies, you will familiarize yourself with the current lending conditions and be able to choose the most profitable ones.

Use our service "" to find the best offer on the market as quickly as possible.

When seeking a mortgage, the procedure is as follows:

• determine the object of lending (an apartment in a new building, on secondary market, room, share, individual house, land, townhouse, etc.),
• find out if the bank has Special offers(for young families, state support, etc.),
• determine the value of real estate: calculate the amount of the down payment and the loan,
• request your CI from the credit bureau,
• clarify with the bank the requirements for borrowers in terms of marital status, income, etc.
• determine the loan term and type of payments depending on solvency.

You should answer each question for yourself in stages to avoid mistakes and unforeseen expenses.

Selection of special programs in the bank

• military mortgage (the state transfers funds to the individual account of a serviceman to accumulate a down payment, when applying for a loan, it pays the debt),
• mortgage loans to young families (reduced interest for spouses under the age of 35),
• mortgage with maternity capital(to support families with two or more children),
• mortgage loans for "salary" clients (a reduced rate is offered for clients who receive a salary to a bank account).

What else to look for when choosing a bank? For the need to pay additional fees:

• fees for maintaining or opening a current account (if any),
• the amount of insurance (borrower's insurance, title insurance, property insurance - depends on the tariffs of the insurance company with which the bank cooperates),
• the cost of producing a report on the market value of real estate.

Applying for a loan

When you have decided on a banking program and made sure that you meet its requirements, you can safely apply for a loan. To purchase an apartment on a mortgage, you must submit the following documents to the bank:

• passport of a citizen of the Russian Federation of all participants in the transaction (borrower, co-borrower (wife), guarantors, if any),
• marital status documents
• income proof documents
• certificates, charts, documents on current obligations (on the payment of alimony, existing loans, etc.).

The package of documents may differ depending on the requirements of the bank. SNILS, an insurance policy, documents on education, a driver's license, etc. may also be required. When submitting documents, you must fill out a questionnaire and an application. It is advisable to indicate the most accurate and truthful information - this will help increase the chances of approval of the application.

After 1-5 days, the loan officer will report on the decision of the bank and report the maximum possible amount to be issued, the approved rate and the payment schedule.

If the application is approved (the decision is valid for 2-6 months), it's time to start looking for a suitable apartment.

Choosing an object for a mortgage loan

When buying real estate in a house under construction, it is worth considering options only in houses accredited by the bank. This will simplify the mortgage transaction procedure as much as possible and protect you from scammers. The money will be transferred directly to the current account of the developer or contractor, the right to claim the apartment will pass to you.

Documents on the object to be submitted to the bank:

• a preliminary purchase and sale agreement (contract of intent, investment agreement, etc.) concluded with the developer,
• documents confirming the payment of the down payment (receipt, cash receipt) from the developer.

Thus, the package of documents for real estate is minimal, but at the same time, the purchase square meters in the primary market is associated with risks - bankruptcy of the developer, failure to meet deadlines, etc.

In the case of purchasing an apartment on the secondary housing market, the package of documents is much wider and in each specific situation may differ. So, you need to collect:

• title documents (certificate of state registration of property rights, contract of sale (or donation, division of property, etc.),
• copies of sellers' passports,
• a copy of the personal account,
• technical, cadastral passport,
• extract from the EGRP.

They may also request:

• documents confirming the legal and legal capacity of sellers (certificates from dispensaries),
• certificates of the absence of debts on utility bills, on property tax,
• other documents.

If the property is bought with a land plot, the list for the application is supplemented by documents on the ownership of the land, on the boundaries of the land plot.

After preliminary approval of the application, you should order a market assessment report, provide insurance policies.

Conclusion of a loan agreement and issuance of a loan

When the bank issued positive decision when applying for a mortgage, the most exciting and crucial moment comes - the conclusion of a loan agreement and the issuance of credit funds.

Until now, there are two schemes for issuing loans in banking institutions: after the state registration of the transaction and using a bank cell. In the first case, the calculation algorithm is as follows: on the day the loan and security agreements are concluded, all buyers and sellers endorse the real estate purchase and sale agreement. On the same day, the borrower transfers the amount of the down payment to the owner of the apartment in cash or by transfer to the seller's account, a receipt is drawn up for receiving the funds.

Further, all documents are transferred to the Registration Authority and within 5 working days the owner of the apartment is changed. For the final settlement, the certificate is transferred to a bank employee, on the basis of which the amount of credit funds is credited to the borrower's account, and then transferred to the seller. Confirmation of receipt of the amount and the final settlement is the second receipt.

How is a mortgage transaction using a safe deposit box

When renting a cell, credit funds are issued on the day the loan documentation is signed. The amount of the down payment and loan funds in the presence of a loan officer, borrowers and sellers is laid in a cell and is there until the state registration of the transaction. After providing a certificate for an apartment to the bank, the cell is opened in the same composition, the money is transferred to the seller with a written receipt.

Deal registration

In order for the transaction to be carried out in the registration authority (Justice, Rosreestr, etc.), you need to submit an application to sellers and buyers indicating personal data. The application must be accompanied by documents of title, copies of passports, a receipt for payment of the state fee. If the seller's real estate is jointly acquired property, it will also be necessary to draw up the spouse's consent to the alienation of housing from a notary.

It will take 5 working days to register transactions with an encumbrance, while ordinary real estate purchase and sale transactions are registered within 30 days.

Features of mortgage programs

• Buying real estate in the secondary housing market

Since this segment is most in demand, the chance of encountering scammers is the greatest - the apartment may be pledged, be illegally alienated, etc. declaring the transaction invalid.

In addition, finished housing must meet the requirements of the bank. For example, it will not be possible to buy an apartment on the 1st floor with a balcony attached to the ground - such a redevelopment is very difficult to legitimize. The same applies to other redevelopments - displacement of wet spots, demolition of load-bearing structures, etc. As a result, the bank will not miss such a loan application.

There are other requirements for the object of collateral (each bank has its own): housing should not be dilapidated, in disrepair, should not have wooden floors (in high-rise buildings), the distance from the city is not more than 30-50 km, etc.

• Buying property in a new building

Acquisition of real estate in a house under construction is necessarily risky, as often the borrower becomes the owner of square meters even before they are built. This promises the possibility of poor-quality construction of walls, ceilings, floors, as well as poor repairs and finishes.

In addition, as mentioned above, there is a risk of bankruptcy of the developer, which will lead to the fact that the houses will not be built at all. To protect themselves from illiquid property, banks require a guarantee of 1-2 individuals.

It is also worth noting that for the entire period of construction, the borrower has the right to claim, he acquires the right of ownership only after the house is commissioned and recognized as residential.

• Acquisition of a share, a room

Buying a share or a separate room in an apartment is possible with a mortgage loan only if, after the loan is issued, all the property will belong to the borrower (in other words, there must be a redemption of the last share). We have already described how a mortgage is issued for a room and a share.

• Buying a house and land

Individual house on land plot, townhouses are considered less liquid housing, so banks are reluctant to issue loans - the rate for this type of lending is higher. About that, described in a separate post.

We hope you don't have any questions. If they are, please ask them in the comments. We will be grateful for the positive assessment of the article and repost in social networks.

If you do not have your own funds, then the acquisition of real estate through a bank loan becomes more relevant than ever. In this article, we will take a step-by-step look at how a mortgage is issued today.

Mortgage lending is a complex process that requires a serious approach to get it right. You need to carefully consider each step, this will help you avoid problems and errors during registration. A mortgage requires compliance with certain conditions, or rather step-by-step instructions.

Applying for a home loan involves several steps:

• Determine what initial payment you can make.

That is, calculate how much of your own funds you have available and how much you can spend on buying an apartment. Today, banks offer mortgage loans with contributions from 15%, in some you can get a loan without this payment at all, you can read more about such programs.

The more money you deposit, the better. For clients who initially pay from 30% of the cost of purchased housing, lenders offer more attractive conditions, as they trust more. A large down payment involves a simplified registration procedure, that is, the bank will need a limited list of documents.

• Find the apartment you want to buy in advance.

This does not mean that you need to choose a specific housing, it is enough to monitor actual prices on real estate to have an idea of ​​what kind of real estate you may qualify for.

• Choose a bank and mortgage program.

This is the most main stage, where you will get acquainted with a variety of banking products, clarify their conditions: the amount of the down payment, terms, interest rates, requirements for applicants, creditors' requirements for real estate. Most profitable offer for home loans you will find at this link.

Find out which additional expenses you will have to bear, for example, whether there is a commission for issuing funds, for opening and maintaining an account, for opening a safe deposit box, etc. In many banks you will encounter insurance, which will also require additional costs. Read more about mortgage insurance in this article.

• Gather mortgage paperwork.

Ask your potential lender what paperwork you will need to provide in order to receive a loan. Usually the list includes a passport, a second document, insurance certificate, birth certificate of children and marriage certificate 2-NDFL and a copy work book. You can preview the list of documents using the example of Sberbank - in this article.

• Fill in the form

Today, the vast majority of banks allow you to fill out a questionnaire not only in the company's branch, but also remotely via the Internet. Some even offer discounts. Sberbank, for example, even created a separate portal called Dom Click for remote application submission, online settlements and transaction registration.

After submitting all the papers, the bank begins to consider your application, the process can last from a couple of days to two weeks. At this time, your solvency is considered, documents and credit history are checked.

• Choosing an apartment and collecting papers for it.

If the bank has approved your application, then proceed to the search for an apartment. The seller will need to request housing documents (certificate of state registration of the right to an apartment, BTI documents, a certificate of no debt on utility bills and other papers). Full list documents for the apartment you will receive in the bank.

• Appraisal of the apartment, which is carried out by an independent appraisal company accredited by the bank.
• Mortgage risk insurance – life and health insurance, title insurance, property insurance. Property insurance in banks is mandatory, the rest - depending on the chosen program and the lender.
• Sign the contract of sale. On a certain day, you sign a mortgage agreement with a bank, a sale and purchase agreement, and put money into a safe deposit box.
• Register the sale and purchase transaction by going with the seller to the registration chamber.

Everything is now your home! Start settling in, but don't forget that you now have a mortgage obligation. This step-by-step instruction displays all the stages that a borrower goes through when applying for a mortgage on a home.

A few tips for potential borrowers

And finally, I would like to give a few good advice For those who decide to acquire their own housing with the help of a mortgage:

• if you don't already have credit history, i.e. before that, you have not applied to banks for a loan, issue, for starters, a credit card or a commodity loan in a store,
• close all existing debts so that there is no refusal due to debt load,
• make calculations in advance on the websites of those banks with which you would like to cooperate. Look at the ratio of your income and monthly payment, the latter should not exceed 30-40% of your wages, otherwise there will be a refusal,
• to get a higher amount, attract co-borrowers (many lenders allow you to attract up to 3-4 people),
• take the time to collect documents from the place of work. The more certificates confirming your solvency, the higher your chances
• in order to save money, try to take part in government programs

Today we will look at step-by-step instructions for buying an apartment in a mortgage.

Many put an equal sign between slavery and mortgages. However, no one says that renting a house or sitting on the neck of relatives is slavery. Undoubtedly, it is better to make every effort and have your own full-fledged housing than to move from apartment to apartment all your life.

mortgage is the opportunity to fulfill your dream - your own living space. People become "slaves" of mortgages not because they are bad in themselves, but because they use them incorrectly.

Step-by-step instructions for buying an apartment in a mortgage

1. Opportunity assessment

Always try to assess your capabilities adequately. You can, of course, sit for six years on " doshirakakh”, but to earn money for a three-room apartment in the city center, but is there really a need for this? Is the purpose of your life is to get an apartment, and not the desire to live in comfort? Are you able to live on three thousand rubles a month for the sake of one of your dreams and deny yourself everything? Will buying an apartment with a mortgage make you happier?

The main rule that you should be guided by when taking out a mortgage is the ability to pay it off. A mortgage on an apartment should not make up the lion's share of your income, cutting your budget to living wage. There is no need to deprive yourself of all the blessings of life. Yes, you can save, but within reasonable limits. Mortgages should not be your headache.

Mortgage payment must be MAXIMUM 30 percent of your monthly income minus utility bills, taxes, rent, and so on. Soberly evaluate your income, and the amount that you are willing to pay, without denying yourself the things you are used to. Yes, you will have to cut your budget one way or another, but make sure that this procedure went as painlessly as possible. Buying an apartment in 2016 especially obliges to save.

2. Reasonable time

Many banks are able to offer you a loan for up to thirty years. And some even up to forty. And if you believe the statistics, then a mortgage loan for an apartment in Russia is taken on average for fifteen years. So, long-term loans, for a period of 10 years or more - this is the very slavery that everyone talks about, remembering the mortgage.

You do not know what can happen to you in these ten years. Perhaps you will not need this apartment at all. It's a nightmare! And that insane overpayment that threatens you during this period? Even if you buy an apartment with a mortgage at 12 percent per annum, you will have to pay 70% over the amount you took! The optimal term for which it is worth taking a mortgage is 7 years. If you are not sure that you are able to pay the required amount for given term- take 10.

3. Adequate rate

An adequate rate is one that does not turn you into a "credit slave". The overpayment should not be more than one hundred percent of the loan amount. The optimal interest rate in this case is 12% per annum. If you need a short-term loan, then buying an apartment in a mortgage at a high interest rate is possible.

The interest rate depends on:

Loan term: long term means a large percentage. This is one of the reasons why a mortgage on an apartment should be short-term.
from the currency of the loan. If you take out a loan in dollars, the rate will usually be much lower.
From insurance. If there is no insurance, the mortgage on an apartment will cost you more.
From the method of confirmation of income. will cut you interest rate by an average of 2 percent, when compared with the rate when providing a certificate in the form of a bank.

4. Early payments

Mortgage for an apartment should be such that it is possible early repayment payment. According to statistics, Russians take out a mortgage for an average of 15 years, and the average period for which they pay off the payment is 7 years. With early payment, you reduce the overpayment that you are required to pay on the interest of the loan.

However, it should be remembered that denying yourself everything for the sake of early repayment of the loan is unacceptable. Measure your strengths, plan your income and expenses, pay the obligatory monthly amount of the loan payment, and only if after all the expenses you have an amount for early repayment of the debt, be sure to pay it.

Keep in mind that the sooner you start repay a loan early– the better for your budget. IN this case you will win, because the overpayment will decrease by a fairly significant percentage, and if you decide to repay the loan before the due date, but after half the credit time, then due to inflation, you will not particularly feel the difference in the amount of the payment. Try to pay off the mortgage immediately, and spend the funds released after the payment on something you also need.

You also have a choice, you can take a mortgage with early repayment and a reduction in the loan term, or the amount of payment per month. If you choose the first type, then the amount you overpay will be noticeably reduced. If your choice falls on a reduction in the monthly payment, then the amount of payments will “strangle” your budget less every month. It depends only on your individual considerations, as well as on the amount of the loan - if the mortgage does not stifle your budget, then take a reduction in the term, and if it takes the lion's share of your budget - choose the opposite option. not as difficult as it seems.

5. Airbag

To be ready for any force majeure situation, you need to have a "safety cushion", which is the amount on which you can live on average for six months, not particularly limiting yourself in anything and paying your mortgage regularly. If you are afraid of a long illness or an upcoming crisis, then increase the pillow so that it lasts for about a year. Just don't overdo the accumulation. If you still have money after the usual monthly expenses, then give half to the early repayment of the mortgage, and save the other half. You will even breathe more comfortably from the realization that you are insured against any non-standard and force majeure situation. Buying an apartment with a mortgage in 2016 may become one of such cases, because with this economic situation it is difficult to predict anything.

6. Comfort bank

It is advisable to choose a bank that will be convenient for you, because you will have to have contact with him every month, and the less nerves and time these contacts take away, the better. Signs of a comfortable bank:

Convenient location. The bank office should be close to your home. The maximum is from work. This option is undesirable, since you are more likely to change your place of work than your place of residence.
Convenient banking hours.
Decent service and qualified staff.
Electronic queue. More precisely, its presence.
Lack of long waiting in kilometer queues.

If you have free funds to make a payment to a rhinestone for two or even three months, take advantage of this opportunity. The less you have to contact the bank, the less stress and more free time you will subsequently bring buying an apartment in a mortgage.

7. Worthy goal

You must clearly understand what this mortgage is for. Do you really need it? Buying an apartment in 2016 - is this risk worth it during the crisis? And if so, then after realizing this, it should become much easier for you to endure all the difficulties associated with the payment, because it is the key to success in any field.

Well, that's all the basic rules, thanks to which buying an apartment on a mortgage will become a feasible burden for you, and will not make you hate everything and everyone around you, but will bring you joy and motivation for personal and.

If there is not enough Money If you want to buy real estate on your own, and you are already tired of renting temporary housing, then it's time to think about buying real estate with a mortgage. However, mortgage lending is a very complex and controversial issue that requires careful analysis to make the right decision. It is necessary to think over every step well, because today buying an apartment with a mortgage is a more serious decision than having a child. Instructions for obtaining a mortgage loan for the purchase of real estate When it is planned to purchase a home using a mortgage loan, the procedure for buying an apartment on a mortgage provides for some conditions for obtaining a loan, and a step-by-step instruction on how to proceed will be very helpful. Where to begin? Where to apply? How to assess your creditworthiness correctly? These questions concern everyone who wants to get a mortgage loan and solve the housing problem.

Meanwhile, buying an apartment on a mortgage requires a potential borrower to comply certain conditions, or rather step-by-step instructions, because the order of the mortgage terms is much tougher than conventional lending. Mortgage loans are burdened with additional mandatory procedures, such as insurance and valuation of the collateral real estate, the minimum down payment, etc.

In addition, the mortgage borrower will have to buy an apartment in a new building that is accredited by his bank or look for a seller in the secondary market who will agree to the mortgage sale procedure. Thus, the registration of a housing loan includes several phased steps that everyone who decides to buy a home with a mortgage will have to face. A simple step-by-step instruction will help to make these steps without any problems.

Conditions for buying real estate with a mortgage

Mortgage lending is the most popular type of loan that allows you to improve your living conditions. At the same time, this process is very capacious and multifaceted, taking from 1.5 to 3 months, and each step, at times, involves new costs, conditions and requirements for the borrower. Step-by-step instructions, previously studied, will help to avoid unnecessary problems and wrong actions.
Step-by-step purchase of an apartment in a mortgage The whole process of buying an apartment in a mortgage can be divided into several key stages:

1. Analysis of desires and opportunities. First of all, the borrower must soberly assess their chances. So if he dreams of a luxurious penthouse, but at the same time he does not even have money for a down payment, then here, of course, you need to descend from heaven to earth and make sure that desires coincide with opportunities. So, you need to find out:

• How much money is there for the first installment
• How much will housing cost
• What is the amount of monthly contributions possible
• How much loan will be required
• How long do you plan to take out a mortgage?

2. Choice of bank and mortgage program. If mortgage programs in all credit institutions are approximately the same, then their conditions may differ slightly, in this regard, when choosing a bank, two main criteria must be taken into account:

• whether the conditions of the bank suit the borrower
• whether the borrower meets the requirements of the bank.

First of all, the borrower can find out general terms and Conditions lending to each individual bank on the Internet. Then, narrowing the circle, go through those credit institutions that best meet his needs. At the bank branch you need to do the following:

• Find out what documents are needed for a mortgage
• What are the requirements for real estate - the object of pledge
• Mortgage interest
• Ask to calculate monthly payments for several options for the amount and term of the mortgage
• Availability of commissions
• Deadline for consideration of the application.

By issuing mortgage loans, the bank also risks, money is not issued to everyone. Therefore, a loan credit institution puts forward certain requirements and conditions for the borrower and the apartment. A potential client of the bank must find out whether he and his income meet the requirements of the bank.

3. Collection and preparation of documents. Having chosen a suitable bank, it is necessary to apply for a mortgage loan. Together with the application to the credit institution, a package of documents is provided:

• income statement
• Copy of the passport
• Copy of work book, etc.

The decision to issue a mortgage loan can take from 2 days to 2 months.

4. Search for suitable real estate. Having previously clarified the bank's requirements for collateralized housing, the borrower can begin to search and select an apartment in a new building or on the secondary market. It is necessary to find not only housing that will suit both the borrower and the bank, but also a seller who is ready to work with a mortgage. After choosing an apartment, you must bring the second package of documents to the credit institution, which will include:

• Collateral object insurance
• Independent evaluation
• Preliminary contract of sale
• Consent to the sale of all homeowners
• Certificate of registration of ownership
• Cadastral passport
• Extract from the house book.

After checking all the documents, the borrower receives a loan approval.

5. Conclusion of a loan agreement. On the appointed day, the borrower concludes loan agreement with the bank, as well as a contract of sale with the seller of the apartment. The seller gets his money, the bank gets the collateral, and the borrower gets the apartment and mortgage debt. After that, the documents are submitted to state registration. After 5 days, the borrower receives documents on the ownership of real estate, but he will receive the full right to housing only after he fulfills all loan obligations to the bank.

Total 5 simple steps you need to know a person who wants to buy a home in a mortgage!