Stages of obtaining a mortgage at Sberbank: how it happens step by step

To apply for a mortgage loan from Sberbank, you should fill out a form on the website and wait for the initial decision (it is not yet final). After this, you will need to collect documents confirming your income and employment in order to understand how much you can count on. As soon as the bank announces specific conditions for the approved application, you can begin searching for real estate - this is given up to 90 calendar days. So, how does a mortgage transaction work at Sberbank?

Analysis and selection of a mortgage program

First of all, you need to choose a suitable loan program. Today Sberbank offers the following types of mortgages:

1. Ready housing.
2. New building.
3. State support 2021.
4. Mortgage with state support.
5. Mortgage + maternity capital.
6. Military mortgage.
7. Home construction.
8. Vacation home.
9. Loan funds secured by an apartment.
10. Loan for the purchase of a garage or parking space.

For reference! It is also possible to refinance a home loan obtained from another bank, or to restructure a mortgage previously obtained from Sberbank (this is done to defer, reduce the monthly payment, etc.).

Is it possible to get less than the minimum amount?

The minimum mortgage loan amount is calculated by the bank taking into account the costs of processing the transaction and the profit received from it. Therefore, the client will not be able to receive a smaller amount. For a financial institution, such a deal is unprofitable. The bank will lose more on drawing up a loan agreement than it will gain from its implementation.

Therefore, if you need an amount that is less than the minimum wage specified by the bank to purchase real estate, it is better to take a regular consumer loan. At Sberbank this program is called “Loan for any purpose”.

The minimum amount will be 30,000 rubles, the maximum - 5,000,000 rubles. The loan is issued for a period of up to 5 years. Interest rate - from 10.9%. The minimum repayment period is three months, while under any mortgage lending program it is one year. The borrower can take out the missing amount under this program for a short period of time and quickly give it to the bank with a small overpayment.

Collection of documents

Healthy! Sberbank calculator - calculate a consumer loan

After choosing a mortgage program, you need to study what package of documents will be needed for registration. The general list is standard:

• passports of all borrowers and co-borrowers;
• a second document of your choice (as such you can present SNILS, a foreign passport or a military ID);
• certificate 2-NDFL for the next 6 months;
• a copy of all pages of the work book;
• an extract or other certificate confirming the availability of an advance (funds for the down payment);
• certificate confirming marriage registration;
• birth certificate (for each child).

At the first stage, the bank evaluates only the solvency of the client and other borrowers (if any). Therefore, it is not necessary to provide documents for the purchased property itself - they can be brought later.

Important! In some cases, other documents may be needed - for example, a certificate confirming receipt of maternity capital. It is recommended to clarify the exact list for a specific situation in advance at a bank branch or by calling the contact center 8 800 555 555 0.

Is it profitable for a borrower to take out a minimum mortgage?

There is no interest-free mortgage at Sberbank as such. The policy of a financial institution and the need to make a profit do not allow it to allocate money without benefit to itself. Therefore, even if the bank offers a preferential lending program, it will still provide a loan at interest. What the client calls a low rate is subsidized by the government. At the same time, a limited number of Russian citizens can take advantage of the preferential loan.

Therefore, a borrower who does not belong to the category of socially protected groups of the population must take care of his own benefit. And he must understand that it makes no sense to take out a minimum mortgage to purchase an apartment or other housing.

A simple comparison example will help you understand this:

1. If you take the minimum amount of 300,000 rubles. on a consumer loan at 10.9% for 6 months, you will have to pay 51,600 rubles monthly. As a result, the bank will need to pay 309,600 rubles, i.e. the overpayment will be only 9,000 rubles.
2. With the same amount taken for a year under the “Mortgage for finished apartments” program at 10.1%, the monthly payment will be 26,389 rubles, and the total amount that the borrower will give to the bank is 316,668 rubles. The total is an overpayment of 16,668 rubles. Plus, according to the program, the client is required to make an initial payment, which will amount to 130,000 rubles.

It is easy to calculate that in cases where there is not enough amount to purchase a home that is less than the minimum threshold loan amount, it is extremely unprofitable to take out a mortgage.

Expert opinion

Irina Bogdanova

Expert in the field of mortgage lending.

It is much easier to take out a consumer loan, quickly and with minimal overpayment.

Choosing an apartment or other object

If the bank pre-approves the loan, you can begin to select real estate within the maximum amount, which depends on the borrower’s solvency, his age and other factors. When choosing an apartment, it is important to pay attention to certain requirements that Sberbank imposes:

• new buildings can only be purchased from accredited developers;
• the secondary house must be built no earlier than 1955 (in the regions) and no earlier than 1970 (in Moscow);
• house wear and tear no more than 70%;
• the building must stand on a stone, reinforced concrete or concrete foundation;
• all windows are glazed;
• each room has a stationary heating radiator;
• there is a kitchen with ventilation;
• cold water supplied;
• location of doors and windows - strictly according to the technical passport;
• all redevelopments (if any) have been agreed upon and included in the technical passport.

Notifications of review results

Sberbank provides several options for communicating to a potential borrower the results of consideration of his application for a mortgage. This ensures that the client is notified promptly. The first of them involves sending an SMS message to the phone number specified in the application. The second method involves duplicating the sent information by sending a letter to the client’s email. The third option is to call a bank employee, who will not only inform you about the decision made, but also explain its reason, as well as possible further actions of the borrower.

Filing an application

After the property has been selected, you must apply for approval of a mortgage specifically for this property (apartment, private house, new building, etc.). This can be done in the office, on the Sberbank website or through the website of the official partner Domclick (you can register your personal account in 2 minutes).

At the same stage, you should provide documents for the property. Minimum package:

• certificate confirming ownership (they will not be issued since 2021);
• agreement on the purchase of housing owners (or agreement on privatization, exchange, certificate of inheritance);
• extract from the USRN register.

Other papers may also be needed. For example, if the owner is married, you need to obtain a notarized consent of the spouse to sell. If the owner is a minor - written permission from the guardianship authorities. And if his representative acts on behalf of the owner - a notarized power of attorney.

Attention! After Sberbank approves a mortgage for a specific property, it is necessary to assess its market value. To do this, you will need to contact a specialized company, choosing it yourself or from the list provided by the bank. The service is paid for by the applicant - i.e. the borrower himself.

Mortgage: definition

Mortgage is a variant of collateral for real estate in which the housing remains the property of the borrower with the right of the lender to sell it in the event of the first failure to fulfill obligations under the contract.

Mortgages are regulated by Law No. 102-FZ of July 17, 1998, which contains detailed information about the rules for granting a mortgage loan and the obligations of both parties. The article also provides a detailed definition of a mortgage agreement. According to it, the mortgage provides:

• •

  purchase of a residential building or apartment constituting separate real estate;

• •

  construction or reconstruction of a residential building;

• •

  acquisition of joint ownership of premises;

• •

  acquisition of ownership of a land plot or part thereof;

• •

  acquisition of a share in joint ownership of a residential building or apartment.

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It follows that with the help of a mortgage you can not only buy a finished apartment or house, but also finance the construction of a house/apartment or buy a plot of land.

Making a deal

The key stage is completing the transaction. It can be done directly at a bank branch. The parties provide all the listed documents and sign the purchase and sale agreement. On the same day, the buyer is obliged to transfer the advance payment to the seller, i.e. an initial fee. The bank will provide the remaining part only after registering the transaction with Rosreestr.

The registration application is sent by the employee completing the transaction online. Usually a decision on it comes within 2-5 working days (less often up to 10 days). After this, the seller receives money (of his choice):

• to a bank account;
• through a safe deposit box (in cash);
• using a letter of credit (with payment guarantee).

The buyer receives an extract from the Unified State Register of Real Estate, in which he is already designated as the owner. The same document will indicate that the purchased property is under encumbrance (pledged by the bank). It can only be withdrawn after full payment of the loan.

Moreover, repayment is allowed both on schedule and ahead of schedule (without additional fees). When the entire amount is paid, the former borrower again applies to Rosreestr to obtain a new extract from the Unified State Register of Real Estate. In it, he will also be designated as the owner, and there will no longer be a mark on the encumbrance.

How does a mortgage work?

The mechanism of a mortgage loan is somewhat more complicated than, for example, consumer loans. It is necessary to take into account a lengthy verification procedure (up to several months), during which both the borrower and the financed property are verified. The key point is determining the real value of the property, which is the task of the appraiser preparing a report for the bank. After verification, the bank issues a preliminary decision, which may also indicate the conditions that must be met to obtain a mortgage. When these conditions are met, after signing the notarial deed (and fulfilling additional conditions, if provided), the loan agreement is signed.

Registration of insurance

Simultaneously with signing the mortgage agreement, the borrower will be required to insure the property in case of damage or loss of property (for example, in case of fire, flood, explosion, etc.). The signing of the insurance contract occurs directly during the transaction. The borrower can choose an insurance company that is a partner of Sberbank, or find an insurer independently.

Important! Life and health insurance of the borrower himself is voluntary. However, in case of refusal, the bank has the right to increase the interest rate by 1% or more. Therefore, as a rule, taking out this type of insurance is more profitable than refusing it.

Insurance

Mortgage costs often extend beyond just the monthly payment. Different types of insurance also play a significant role: compulsory and voluntary. The most important of them:

• •

  life insurance - usually has a voluntary nature, but when issued, it allows the bank to receive compensation under the insurance policy in the event of the borrower’s death before the loan is repaid;

• •

  insurance of real estate against loss and damage - is mandatory, being a guarantee for the bank that, if necessary, the object of the contract will retain its liquidity;

• •

  Unemployment and disability insurance—borrowers with low creditworthiness or those working in certain industries may sometimes need to take out additional insurance.

Alfa⁠-⁠Bank offers different insurance options when taking out a mortgage loan, depending on the type and status of the property.

Application review period: how to reduce it

Sberbank reviews a mortgage application within 5 to 8 days. During this period, specialists study the borrower’s credit history, the property itself, documents and other information. If not all information is provided, there are errors or inaccuracies in the papers, the review period may increase. Also, time is delayed if the applicant has requested the maximum possible amount for the maximum period (30 years).

To speed up the review process, it is recommended:

• clarify the full list of documents;
• carefully fill out the form without making any mistakes;
• do not distort the data - the bank will in any case double-check the information and find a discrepancy;
• if documents are provided electronically, make high-quality, high-resolution scans.

Thus, applying for a mortgage at Sberbank includes several stages. In general, the procedure can take 3-4 weeks (taking into account the execution of the transaction). Moreover, after approval of a specific amount, the bank’s offer is valid for 90 days. Therefore, even if one property is not suitable or does not pass the inspection, there is time to find another one.

Reasons for refusal

Sberbank does not issue mortgage loans to every person. As a rule, bank employees do not inform their clients about the reasons for the refusal, but there are several main factors:

• bad credit history or no credit history;
• presence of outstanding loans and arrears;
• low income;
• problems with law.

In other words, the reason for refusal is individual for each person and only the potential borrower can guess why he was not approved for a loan.

Why choose Sberbank?

We have already listed all the advantages of applying for a mortgage through Sberbank at the beginning of this article, and if they still have not inspired you, then for a comparative analysis, study the conditions for this operation in other banks . Use the bank's official website.

Comparison of mortgage programs of different banks.

But take my word for it - in Sberbank the mortgage conditions are somewhat simpler, more loyal and more profitable, and the process itself is a little faster compared to other banks.

Types of difficult life situations, supporting documents

This concept means:

• Dismissal from work. To confirm this, you must register as unemployed and obtain the appropriate certificate.
• If you are unable to work due to illness. In order to confirm this, you need to get a certificate from the hospital.
• If the person who took out the loan went on maternity leave. A pregnancy certificate can be obtained from the hospital.
• If income has dropped significantly in two months. In order to confirm the fact of a salary reduction, you must submit a certificate of income to the bank.
• Adoption or adoption, as well as the birth of a child in the family. In this case, you will need to bring a certificate confirming adoption.

Can I apply for a mortgage loan online and where?

Sberbank accepts applications both in branches and via the Internet. Online application form is available on the following websites:

• banki.ru;
• sravni.ru.

On these resources, the user can familiarize themselves with lending rules, read reviews from bank clients, and compare rates, requirements and conditions for obtaining a mortgage loan from Sberbank with other financial institutions.

Features of debt repayment during the grace period

The main thing you need to understand is that going on preferential terms does not get rid of debt. When it starts, only the loan rate is reduced, and not the amount of debt itself.

In addition, vacations are taken only to improve your financial situation.

When applying for a grace period, a person asks the bank to set a certain fee for the entire time. If desired, this number can be set to zero. In this case, he is completely exempt from paying for the entire period.

Does interest accrue during holidays?

During the grace period, the accrual of interest on the loan does not stop. It simply extends the time during which the client will have to pay off the debt by making appropriate amendments to the contract.

Agreement for the purchase and sale of an apartment under a Sberbank mortgage

The purchase and sale agreement for housing with a Sberbank mortgage, in general, has a standard form. However, it must contain a mandatory mention that part of the cost of housing will be paid using borrowed funds provided by this particular bank, and also that the purchased property will be pledged, and Sberbank will act as the pledge holder.

The document contains the lender's details, but only the buyer and seller sign it.

First, a preliminary purchase and sale agreement is formed and signed, and then the main one. The texts of both documents are not fundamentally different. It’s just that the first one states the intention of the parties to conclude a transaction, specifies the deadlines for its registration, and the second one speaks directly about the purchase. The preliminary agreement is submitted to the bank's internal services for analysis along with a package of documents on the purchased property.

Requirements for borrowers

According to the expert, banks treat their borrowers individually. It is not uncommon for a person to receive refusals from four financial institutions and approval from a fifth. General rules for refusing approval:

• current loan debt;
• low credit rating;
• bankruptcy of the borrower in the last five years;
• high debt burden;
• debts from enforcement proceedings (fines, alimony);
• low liquidity of the facility under construction;
• age above the “threshold”.

At the same time, attitudes towards the age of borrowers are becoming more and more loyal. Some financial institutions limit it to 65 years, as there is a noticeable tendency among Russians to strive to meet their retirement with dignity in a private home.

“Houses built for personal use and especially according to their own design have low liquidity,” explains real estate investment expert Andrei Mozol. “This means that when trying to sell such a house, the seller will face low demand. Homes typically take three to five years to sell. The exception is the last year and a half, when increased demand was stimulated by the pandemic.”

According to the expert, this is the main reason why banks refuse to issue mortgages or increase the interest rate, thereby reducing the demand for these loan products. Banking organizations see such lending as a risk, since if the debtor stops paying the mortgage, the property will have to be put up for auction and there is a high probability that it will not be sold at a price close to the market price.