Mortgage vtb for secondary housing

Borrowers in great demand require a loan to buy a home in the secondary market. There are several reasons for this, the first of which is the lack of additional investments in repairs, because when buying a home in a new building, you first have to invest your own funds in finishing the premises. Therefore, commercial banks in Russia necessarily have a targeted mortgage loan for housing in the secondary market in their product line, VTB 24 is no exception. Consider all the conditions of VTB mortgage for secondary housing, as well as registration methods and other nuances.

Mortgage lending options

VTB24 Bank has several options for obtaining a mortgage loan for the purchase of housing in the secondary market, namely the program "Purchase of finished housing", "Victory over formalities" and "Collateral property". All of these products are suitable for potential borrowers looking to purchase property on the secondary market. Let's consider all the conditions in more detail.

Buying a finished home

The following terms and conditions apply to this mortgage product:

the amount of borrowed funds is 600,000 rubles up to 60 million rubles;
interest rate from 11.25% per year;
minimum contribution from 10% of the cost of the object;

The base interest rate on a mortgage VTB 24 secondary housing is 11.25%, it is valid only for salary clients, and also subject to comprehensive insurance. It includes property insurance, personal insurance and title insurance for a period of 3 years, otherwise the rate will be increased by 1% and another 0.5% for clients not participating in the bank's salary project.

Mortgage property

If you want to buy real estate on the secondary market, then the offer "Mortgage real estate" is also suitable for you. The peculiarity of this lending is that you can choose housing from the bank's catalog, which is pledged by the lender. In simple terms, these are the objects for which the bank previously issued a mortgage, but the borrowers did not cope with their obligations, respectively, the ownership of real estate goes to the bank, and he, in turn, has the opportunity to realize it, including and under a mortgage loan.

What conditions does the bank offer:

interest rate - 10.6%;
term - up to 30 years;
amount - up to 60 million rubles;
initial payment - from 20%.

If you want to take advantage of this offer, then you need to go to the official website and find the mortgage product "Collateral Real Estate". Further, under the calculator, you will find a link that will lead you to a page where you can see the catalog of housing offered by the bank to its borrowers.

It is worth noting that within the framework of this offer, you can choose housing both in the secondary market and in a new building, and purchase it with a mortgage loan on favorable terms.

Victory over formalities

This is a special type of lending in which you can also purchase housing on the secondary market with just two documents. To be more precise, two documents, namely a passport and SNILS, are needed to consider your application, which, by the way, takes only 24 hours. But when applying for a loan, you will still have to provide a certificate of salary so that the lender has the opportunity to assess your solvency.

What are the conditions for this offer? Let's list them for convenience:

interest rate - from 11.5%;
term - up to 30 years;
amount - up to 30 million rubles;
initial payment - from 30%.

As for the interest rate, it is valid only under the condition of comprehensive insurance.

Features of lending

The first condition is the interest rate, which, in principle, interests most borrowers, because its size determines the benefits of mortgage lending. The bank indicates the base interest rate, that is, the minimum value, but when considering the documents of the borrower, it can increase it depending on the risks that the lender bears from cooperation with the borrower.

A showcase of mortgaged real estate at VTB 24: an example

The bank is interested in the borrower's income, when considering a mortgage loan, the monthly payment should be no more than 40% of the borrower's earnings, while the total family income, as well as their expenses, are taken into account. For example, if the borrower has obligations for other loans, then their amount is deducted from the basic income.

Please note that there is a loan calculator on the bank's official website, with which you can calculate the maximum amount of a mortgage loan for yourself, for this you need to select the calculation for monthly income in the top line.

The last essential conditions for cooperation are the requirements for the property. As for the new building, here the bank is more willing to agree to cooperation for the reason that during the period of payment of the mortgage loan, it will not significantly lose its value, which cannot be said about housing in the secondary market. Therefore, the bank is very carefully examining the assessment of the object. Among the main requirements are the absence of encumbrances and an assessment of the technical condition of the facility.

Registration of a mortgage loan

If you want to apply for a mortgage at VTB 24 Bank, then you do not need to write an application at the branch, you can fill out an application on the official website. The term for consideration of the questionnaire ranges from one day to 5 working days. In addition, you can provide data for the questionnaire using the hotline operator, for this you can order a call on the official website.

After you receive a positive decision, you have four more months, during this period the mortgage approval is valid. During this time, you need to find a property and prepare all the documents for signing a loan agreement. Among the main documents are a passport, SNILS, a certificate in the 2-NDFL form or a salary certificate in the form of a bank, a military ID for men under 27 years old. As for the co-borrowers and guarantors, the presented list of documents is relevant for them.

Please note that the bank may require additional documents confirming the financial viability of the borrower.

Mortgage calculator VTB 24

About insurance

For each borrower, insurance is an additional cost for mortgage lending, but if insurance is canceled, the bank raises the interest rate, so each potential borrower has a question whether it is worth taking out insurance or not. Answer this question in order. As for the insurance of the real estate object, that is, the housing being purchased, its insurance is compulsory; the borrower has no right to refuse it. As an insurance company, he can choose only one that is accredited by the bank, otherwise, the lender may not accept the insurance policy.

As for personal insurance, its registration is not required by law, respectively, the borrower may agree or may refuse. You just need to understand that in case of refusal, the bank, at best, will raise the interest rate, and at worst, may refuse to cooperate. Do I need personal insurance for mortgage lending? Here, the answer is most likely yes for two reasons. First, the cost of an insurance policy is not that great. Secondly, a mortgage agreement is a fairly long-term cooperation, and the presence of personal insurance can serve as a guarantee in the event of an insured event, for example, disability, then the insurance company pays the mortgage, while the borrower does not lose the housing purchased on credit.

Title insurance is insurance against the financial risk associated with the protection of property rights in the event that a transaction is invalidated. Banks, as a rule, strongly recommend purchasing this type of protection for the first three years after the mortgage loan is issued, because after three years it will be impossible to invalidate the contract by law, since the limitation period will pass.

Please note that you can purchase insurance from any insurance company, but only if it fully meets the requirements of the bank. Therefore, in order not to risk it, find out in advance which insurance companies are on the list of accredited by the bank.

To summarize, the VTB 24 mortgage for secondary housing has rather loyal conditions. First, mortgage interest rates are quite competitive. Second, the bank quickly reviews the mortgage loan application. Finally, VTB24 ranks second in the rating of Russian banks, which means that cooperation with it will be more profitable.