Salary for a mortgage with examples of calculations and design options for gray income

Hello! Income level and permanent employment are one of the most important conditions for mortgage lending in Russia. What should be the salary for a mortgage in order for a bank to approve a loan, are there minimum thresholds required for approving a loan application, how to take a mortgage with a small and gray income, let's try to figure it out today.

When considering an application for a mortgage loan, all banking organizations pay close attention to the data points of the application "employment" and "income level". Almost always, in order to give a positive answer on a loan, the bank indicates the requirement to provide a certificate from the place of work.

All credit organizations take into account, first of all, official earnings, but additional earnings, income, the presence of real estate or valuable property will be a bonus.

It is customary to refer to the main income:

1. Salary from the main place of work under labor or contract;
2. Income from entrepreneurial activity for individual entrepreneurs;
3. Pension for retirees.

An important point! Non-working pensioners, including disabled people, can get mortgages from a limited number of banks. The most loyal for this category of borrowers are Sberbank and Transcapitalbank, where you can get a mortgage for up to 75 years.

What can be taken into account by banks in addition to official earnings:

• Additional income when renting real estate, documented;
• Part-time job;
• Income from entrepreneurial and other activities that bring stable cash receipts.

How to prove your income

Most credit organizations, as a basic condition, are required to submit a certificate of salary 2-NDFL from the main place of work, or a document in the form established by the bank from the organization (certificate in the form of a bank), if the income is "gray".

Income from additional activities can be confirmed:

1. Lease agreement for residential or non-residential premises.
2. Records in the work book.
3. Bank statements.
4. Income tax return - for legal entities and individual entrepreneurs.

We have discussed in more detail in a separate post. Be sure to read it before applying.

What income does Sberbank take into account and how to confirm them

1. From a permanent place of work, a citizen can provide a salary certificate in the form of 2-NDFL, or a certificate in the form of a state institution, if it is not possible to write out 2-NDFL documents containing basic information about the position, the employee's salary, the duration of his stay in the organization. It may also be obligatory to provide a certificate according to the form established by the bank where the loan is issued.
2. Pension and other income:

• An early, or upon reaching the retirement age, pension, disability or seniority pension;
• Monthly lifetime payments to judges and certain categories of citizens;
• Monthly payments (monthly payments) made through a bank branch;
• In terms of income at an additional workplace, funds are confirmed, as well as in the main one, if it is impossible to submit a certificate or a copy of a work book, a citizen can bring a copy of an employment contract with the dates for starting work and the level of wages indicated in it;
• Tax return - for individual entrepreneurs - for 1 or 2 tax years.

1. The funds received from the rental of real estate are confirmed not only by a copy of the contract, but also by a 3-NDFL declaration, or a certificate of income in the form of 2-NDFL.
2. Remuneration under contracts of a civil nature and from the use of the borrower's intellectual property is confirmed by a copy of the prepared documents, if there is a 3-NDFL declaration or a 2-NDFL certificate - by them.

When the mortgage is calculated, monthly payments for benefits and other income may be considered as additional cash income. Moreover, quite often, a written confirmation may not be required, the information in the questionnaire will be indicated according to the borrower's words. The bank can call on the specified contact details of the main and additional places of work and check the accuracy of the information, or take into account only the positive credit history of the borrower. As a rule, Sberbank issues the largest amount among all other banks.

What cannot be credited as a source of income at Sberbank:

• Coupon income and from securities;
• Received insurance cash payments;
• Income from participation in the activities of LLC and from shares of joint-stock companies;
• Funds received from the sale of real estate or the purchase and sale of securities and / or movable property;
• Winning a lottery or casino;
• Forfeits and fines collected in favor of the borrower;
• Alimony and scholarship payments received;
• Bonuses and remuneration received outside the main place of work;
• Other sources of income prohibited by the bank.

Borrowers of banks holding salary cards of these particular credit institutions have preferential conditions for providing information on wages. In such cases, the submission of certificates from the main place of work is not required.

How much do you need to earn

In order for you to be given a loan, you need not only to work in the last place for a certain time according to the bank's requirements, but also to know what the salary should be in order to take out a mortgage. The fact is that it is necessary to take into account the bank's requirement for the income / expense ratio. Each bank has its own, but it is customary to distinguish three:

1. Conservative (60/40) - the mortgage payment ratio submitted must not exceed 40% of income. This approach is safe for borrowers because allows you to choose the optimal load on the budget, but in the realities of the Russian economy, such requirements of the bank are not very competitors due to the fact that the amount of the mortgage is the smallest among other competitors, and the borrower's real earnings are usually always higher than the official one.
2. Standard (50/50) - quite a lot of banks estimate the borrower's income in this way. The loan payment must be equal to half of the salary or less.
3. Optimal (40/60) is the most normal option for assessing solvency, which is adhered to by most banks - leaders in the mortgage business. With this approach, the mortgage payment can be up to 60% of income.

When attracting one or several co-borrowers, the total income received by them will be taken into account. Also, the bank will take into account the monthly costs incurred by the borrower, including for existing loans or mandatory payments, excluding utilities.

For example, Sberbank takes into account the number of dependents - minor children or elderly relatives in the care of the borrower and the costs of their maintenance. A loan may be denied to persons with large alimony obligations or several outstanding loans.

It is important to know that a number of banks (VTB, Raiffeisen, Transcapitalbank, etc.) do not take dependents into account when calculating solvency. This will significantly increase the loan amount and reduce the wage requirement.

Credit cards are also considered loans. Depending on the bank, in the calculation of solvency, they take from 5 to 10% of the credit card limit. So, if you have a card with a limit of 50,000 rubles, then 2,500 - 5,000 rubles will be deducted from your total income.

It is important to understand that even if your card is not activated, you do not use it, but it just lies at your home - the bank will take into account 5-10% of its limit. you can withdraw the full amount from it at any time. At other times, banks such as Deltacredit generally do not take cards into account and consider them a positive aspect when considering an application, while other banks set a cut-off limit less than which cards are not taken into account.

General advice: close all cards before applying for a mortgage and take a certificate from the bank on letterhead, which will indicate the card limit, opening and closing dates and that the card has been returned.

What to do for borrowers with low or informal wages

If it is not possible to confirm the official income in the required amount, or if there is a small salary, there are several ways according to which a mortgage with a gray salary can be issued:

• Attracting co-borrowers with a high level of income;
• For young families or families with children - participation in government programs to subsidize mortgage loans;
• Increase the first installment;
• Providing a certificate in the form of a bank - the form is not a form of strict reporting and there are many opportunities to artificially increase the amount of wages;
• Use the lending program "on two documents" without confirmation of employment and solvency of the borrower;
• Submit documents on additional income;
• Choose a bank that does not take into account co-borrowers;
• Choose a bank that either does not "see" your loans, or is ready to register their closure in suspensive conditions;
• Buying certificates is a common business, but fraught with consequences.

Most banks are trying to be loyal to the category of borrowers who cannot confirm their income with a 2-NDFL certificate and give a mortgage under special lending programs:

• Credit according to the provided passport and pension certificate;
• Slight increase in interest rates and down payment;
• Reducing the loan term.

Let's try to check ourselves and the ability to get loan approval and how much you need to earn to take out a mortgage. For this we need our mortgage calculator. Go into it and find out what the salary should have been for the amount you need.

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