How much time is given after mortgage approval?

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The entire process of obtaining a mortgage loan can be divided into several stages that follow each other sequentially: submitting an application for consideration, obtaining the bank’s consent, searching for real estate, insuring it, etc. Each of them is no less important than the others, but it is the approval of the mortgage, in the opinion of most borrowers, that is the most exciting and fateful, since its housing situation will depend on the decision made by the bank.

Stages of obtaining a mortgage

Buying an apartment or other housing with a mortgage is a responsible step, and there is no need to rush into this matter. The mortgage process takes place in several stages:

1. Selecting a bank and submitting an application. Typically, the bank reviews application documents within 2-5 days, but sometimes additional checks are required, and you have to wait longer - up to 10 days.
2. Selection of real estate. How long it will take to choose the right apartment or other property to buy will depend on you. If you have selected a suitable option in advance, then you will not have to waste time. Otherwise, the search may take up to 1 month or more. It must be remembered that the validity period of a positive decision is limited. For example, in Sberbank it is valid for 90 days.
3. Conducting an assessment. The appraisal must be carried out by a company that has a license for appraisal activities. It is recommended to contact appraisers who have been accredited by the selected bank. Preparation of the report takes from 3 to 7 days.
4. Real estate approval. After appraising an apartment or other real estate, you need to agree on it as collateral with the bank. To do this, you need to hand over the assessment report and all the seller’s real estate documents to his employees (extract from the Unified State Register of Real Estate, technical and cadastral passport, etc.). The bank will check the legal purity and other parameters of the purchased housing within 3-10 days and report its decision.
5. Purchasing insurance policies. Usually it takes no more than one day to obtain insurance. But some insurance companies, when purchasing a life and health insurance policy, ask to provide a health certificate. Its processing may take 1-3 days.
6. Preparation for concluding a loan agreement and transaction. At this stage, employees prepare loan documentation. You also need to agree on the time of the transaction with the real estate seller and make the first payment, having first opened a personal bank account. It takes 3-4 days to prepare all documents.
7. Concluding a deal and signing loan documentation. In most cases, the conclusion of a loan agreement and a transaction with the seller occurs simultaneously within a few hours.
8. Registration of the transaction in Rosreestr. Together with a bank representative, you must contact the registration chamber or MFC to register the transfer of ownership of real estate and its pledge. The procedure takes 5-10 days. At Sberbank and some other banks you can use the electronic transaction registration service. In this case, the manager will send all documents to Rosreestr in electronic form, and after registration is completed, you will receive an extract from the Unified State Register and a purchase and sale agreement (or equity participation in construction) by email.

How long does it take to get a mortgage?

The assessment of a property may take 3-5 days. You can also order an urgent assessment of the apartment, so the report will be ready in 1-3 days. What other stages are there that need to be completed?

The procedure is quite lengthy, but let's roughly calculate how long it takes to obtain a mortgage?

Introduction to the residential real estate market

What is on the real estate market now, what is the price? This is the most important question that needs to be answered when starting a mortgage story. Take a close look at how many apartments are on the real estate market that meet your requirements. But out of 90-100 apartments for sale, only 2-3 can be purchased with a mortgage. A private consultation with a realtor – 2 hours – will help clarify this situation. Then compare the price of the desired apartment with the available funds. Now you can roughly say what kind of loan you need.

Credit committee approval

Collecting documents for the bank takes 1-2 weeks. The declared period for consideration of a loan application is from 2 days to 2 weeks (this depends on the bank). Some banks now practice express consideration of applications (for example, in 30 minutes). After this you will be given the maximum

possible loan amount (after a more detailed verification of documents).

Apartment search

A positive decision from the credit committee is valid for 4-5 months. During this time, you will need to have time to complete the transaction. This means that you have no more than 1-2 months to find an apartment.

Making an advance/deposit

At this stage, it is necessary to discuss all the details of the upcoming purchase of an apartment, including the appraisal of the apartment, etc. The procedure takes 2-3 hours if all issues have been discussed in advance.

Independent assessment

This is a specific “mortgage” link. Experts must determine that the apartment really costs as much as you plan to buy it for (and at least not less than the loan amount). This takes 3-4 days. Urgent assessment – ​​1-2 days.

Insurance

In addition to health and life, you will have to insure the title of the apartment and structural elements. It takes 1-2 days.

Signing a purchase and sale agreement, loan agreement

Takes 1-2 days.

Registration of ownership

The usual procedure takes 1 month, the accelerated procedure takes 2 weeks.

Certificate of acceptance and transfer of apartment

From this moment the purchase and sale transaction is considered completed.

Source: finances-credits.ru

Category: Mortgage

How to submit an online application to the bank?

You can receive a mortgage decision directly from your home or office. To do this, just leave a request on the website of the selected bank.

For example, in the VTB application form you need to indicate the following information:

• FULL NAME.;
• contact number;
• email;
• employer's tax identification number;
• approximate average monthly income;
• the amount of basic regular expenses (payments on other loans, alimony, etc.);
• passport data (series, number);
• desired loan parameters (term, amount);
• the region where you plan to buy property;
• city ​​where the mortgage will be issued.

The application is reviewed within 1-10 days. You will be informed about its approval by telephone.

After what period can I re-apply?

If Sberbank refused to issue a mortgage to a client for the purchase of real estate, then do not despair . First you need to find out why the bank could refuse.

Having found out, the borrower must do everything possible to correct the situation, and then resubmit the application to the bank. He can do this 2 months after submitting the previous application.

An application for approval from Sberbank to take out a mortgage is considered within 8 working days . If the client has received approval, then he needs to quickly collect the necessary documents and find housing. Previously, the period for obtaining a mortgage at Sberbank after approval of the application was 2 months. Today, the bank has increased this period, and now it is 3 months (90 days).

In this article we will look at how long it takes to obtain a mortgage. We will find out the time frame for consideration of the application and documents by the bank, and also figure out what stages follow after the assessment of the apartment. We have prepared useful recommendations for you and collected feedback on getting a mortgage.

What determines the mortgage approval period?

Each mortgage application is processed by the bank individually. All data contained in it is carefully checked.

The following factors influence the bank's decision and how long it will take to make it:

• Credit history . If it is really bad, then the refusal will come quickly. But if the credit bureau report contains only information about small delinquencies in the past, then the bank will analyze the application more carefully, which will take more time.
• Down payment amount. If you have a down payment of 50% of the cost of the purchased property or more, the bank’s risks are significantly reduced, and it will check you less strictly.
• Availability of all necessary documents. If you order all the certificates in advance, you will be able to get approval faster. Likewise, if the seller has a package of real estate documents ready (extract from the Unified State Register of Real Estate, certificate of ownership, etc.), it will be possible to agree on it faster.
• Income level and method of confirming it. A 2-NDFL certificate confirming official income will speed up the loan application process. The bank can check it quite simply by receiving an extract from the Pension Fund. If you confirm your income using a bank certificate, it may take additional time to verify it. Approval is quickest for payroll clients, since in this case the bank sees real income data.
• Borrower's age. The credit policy of most banks allows you to make a decision on your application faster if your age is from 30 to 45 years. If you meet this criterion, you can also expect to be approved for a larger amount.

The approval period is 90-120 days. During this time, you need not only to decide on the property, but also to sign a loan agreement and conclude a deal with the seller.

How many days do I have to wait for banks to approve a candidate?

The loan approval process varies from 14 minutes to 14 days, as it involves checking many factors.

Whether the loan application will be approved and within what time frame the decision will be made depends on several factors:

1. Checking the provided documents . Bank employees check the completeness and compliance of all documents that the borrower provides to the bank.
2. Checking your credit history . The bank makes a request to the Credit History Bureau to check the borrower's history.
3. General risk assessment . The bank, based on all the collected information, calculates all the risks of lending to a given person and makes a conclusion based on them.

How to get the best mortgage terms?

The conditions under which the bank agrees to approve a mortgage depend on many parameters.

The following recommendations will help you get the most favorable terms.

• Try to make the largest down payment possible. It is recommended to pay 30-50% of the cost of housing from your own funds.
• Involve guarantors whenever possible. To receive favorable mortgage conditions, they must have a high income, confirmed by a 2-NDFL certificate.
• Contact the bank through which you receive your salary. Typically, reduced interest rates apply to salary clients.
• Pay attention to bank shares. Sometimes they greatly reduce the rate when purchasing an apartment during the construction phase from partner developers.

For what period is it better to take out a mortgage?

The mortgage can be issued for a period of 3 to 30 years, and sometimes more. The monthly payment and the total overpayment depend on the loan term.

For example , if you take out a mortgage loan for 3.2 million rubles. at 9% for a period of 10 years, then the monthly payment will be 40,536 rubles, and the total overpayment will be 1,664,433 rubles. With similar parameters, but a period of 30 years, the monthly payment will be 25,748 rubles, and the total overpayment will be 6,069,615 rubles.

As the loan term increases, the cost of insurance also increases, because it must be renewed annually. But you can only take out a short-term mortgage if you are 100% confident in your financial capabilities, not only for the current moment, but also for the entire term of the loan. In other cases, it is better to take out a mortgage for a long time and, if possible, make a large down payment.

The procedure for obtaining a mortgage for an apartment in Sberbank

Sberbank of Russia has been providing high-quality banking services to private and corporate clients for many years, namely, it allows you to open deposits, receive loans, make various money transfers and foreign exchange transactions.

Despite the extensive list of services provided, the most difficult issue is related to the purchase of housing, so Russians are increasingly asking the question of how to get a mortgage from Sberbank for an apartment on favorable terms? For this reason, the bank offers its clients to purchase housing under construction using a mortgage loan. It can be obtained for purchasing an apartment directly on the primary real estate market (new building).

https://www.youtube.com/watch?v=userMrSorochanfeatured

Before you receive money from the bank in order to own your own apartment, you will need to go through several stages:

• Initial contact with a Sberbank branch to select a mortgage program, calculate the cost and submit applications;
• Collect a package of documents confirming your solvency to transfer it to Sberbank employees;
• Waiting for the application to be reviewed and a decision made within 2 to 5 business banking days.

Reviews about getting a mortgage

Zakharova Alexandra:

Borisov Mikhail:

“I sought advice on mortgages from several banks, but I chose Raiffeisenbank’s offer and did not regret it. At all stages of registration, I was informed in detail about the necessary documents, and the manager did not leave my questions unattended. Due to this, I received approval for my application very quickly and was able to enter into a deal. There are also no problems with loan servicing. Money is credited and debited in strict accordance with the schedule.”

Ryabova Sofia:

Sukmanskaya Natalya:

“My husband and I decided to purchase our apartment with a mortgage. We immediately turned to Sberbank, because we have more confidence in it. We were told in detail about the conditions, about the possibility of getting a discount on the rate if you buy an apartment through DomClick.ru. The application was approved literally in 1 day. I was very pleased that we did not have to go to the bank many times. The seller sent all real estate documents via DomClick. It was also agreed upon quickly, and the transaction itself took literally 2 hours. We ordered electronic registration of the transaction and got rid of even the need to go to the MFC. “I am personally completely satisfied with the conditions and quality of service at Sberbank.”

Mortgage loan from Otkritie Bank with a rate of 9.3% →

For many of our fellow citizens, obtaining a mortgage is the only opportunity to solve their housing problem. For help, we prefer to turn to large and well-known companies, in particular Sberbank. And you can often hear the question of how long the registration will take? The answer is further.

Mortgage loan from Otkritie Bank from 9.3% → Apply

So, the procedure for obtaining a home loan is not complicated , and it usually takes no more than 1 month. You can never say exactly how long a transaction will take, because everything here depends on so many nuances:

How quickly the borrower collected all the documents necessary to consider his application,

Current offers

As you can see, a lot here depends not on the banking company itself, but on the efficiency of the person purchasing housing on credit.

If the applicant is already served by Sberbank, then the verification will be expedited. This is especially true for those participating in the salary project. In this case, the lender already has all the information about the client in personal and financial terms. Therefore, we recommend that you initially contact the financial institution where you are served. Those who have previously opened a deposit or loan account with this bank can also count on expedited consideration of their application.

How long are documents reviewed?

Let's first note this: some citizens think that if they constantly call the bank's loan officer and inquire about how things are going, this will speed up the process, because they will not be forgotten about them or something like that. In reality, everything is completely different, and no acceleration will occur, but you can spoil the specialist’s mood. And there are chances that you will influence the results not for the better. Therefore, during the review you just need to wait.

Moreover, it won’t take so long to do this. As the bank's website suggests, the review should take 2-5 business days.

In reality, this period can be exceeded, and is often exceeded. There are factors that may cause the review period to take longer than stated. It’s one thing if the applicant is a client of Sberbank and receives wages on his card and has a positive credit history. In this case, a minimum of checks will be required during the mortgage review process. It’s different if it needs to be checked in detail. After all, a mortgage is a large-scale injection of money, and the bank cannot do it just like that.

Sometimes during the review you have to provide some other documents, or one of those that you have already submitted immediately turns out to be invalid due to expiration. Then it will take more time, up to several weeks, or even a month.

But after five days have passed, it is worth contacting the bank and asking at what stage the consideration of your application is, since it may turn out that it has already been accepted, and you simply did not receive a notification about it.

What is the procedure for obtaining a loan?

• You contact a Sberbank branch to submit documents for consideration, as well as fill out a questionnaire (it can be downloaded in advance on its official website),
• Next, wait for a decision to be made,
• If it is positive, choose a property that meets the bank’s criteria in terms of price, life of the building, condition, etc.,
• Collect real estate documents, bring them to the branch,
• After checking them, sign the contract,
• Register your property rights in Rosreestr,
• You receive a housing loan and, if possible, repay part of the debt with funds from the MSC or other government funds. and municipal payments.

If you are interested in speeding up this procedure as much as possible , you will need:

Even before filling out the application, contact the department with a question about what papers you will need to submit the application. As a rule, this is a passport, income certificate and a copy of the work book, but for different programs the list may change,

Take into account your time and material costs for home appraisal and insurance; you need to be prepared for this in advance; it is advisable to first study the list of companies with which the bank cooperates and choose an appraisal and insurance organization based on reviews and prices.

Choosing housing and completing documents

If you choose an apartment on the secondary market, it should not be encumbered, i.e. be on bail, under arrest, etc. The down payment for you will be 15%, the interest rate will be from 10%. The minimum amount available to you is 300,000 rubles, and the maximum should not be higher than 85% of the estimated value of the collateral.

There are even more simplified mortgage conditions - according to 2 documents, but here you will pay increased interest in the amount of 10.5% and the down payment will be at least 50% for you.

Do you know how to get a mortgage without a down payment at Sberbank? Of course, the Bank itself does not provide such programs, but in fact it is quite possible. To do this, you need to agree with the Seller that the amount of the apartment in the contract is inflated by the amount of the down payment, then he must write a receipt to the Bank about receiving the down payment from you. That's all! Read more about this in the post “mortgage without a down payment”.

At Sberbank you can buy out the last share in the apartment. For this, a standard program is used, as for the secondary. Read more about the nuances of such transactions in the post “Mortgage loan for the share of an apartment.”

Registration procedure

Let's take a closer look at the procedure for applying for a secondary mortgage at Sberbank. First, you submit an application and the necessary documents specified above, and you will be approved for a preliminary loan amount based on your solvency. Here you can attract Co-borrowers, whose income will be taken into account when calculating the amount.

Then you look for an apartment for the approved amount, make an assessment and provide the Bank with documents for the selected apartment, as well as confirmation of the down payment. The Bank will make copies of all documents and approve them within 5 working days.

Now you enter into a loan agreement with the Bank and receive money, which you put in a rented safe deposit box, and after the transaction in Rosreestr the Seller will take it away.

Next, you pay the state fee and go to the registration chamber for the purchase and sale transaction with a drawn up and printed purchase and sale agreement in 4 copies (to you, the Seller, the Bank and the Rosreestr Office).

And finally, in about a week, you will be able to receive a Certificate of State Registration of Property Rights, but until the loan is fully repaid, your apartment will be pledged to the Bank.

Since 2020, the certificate is not issued, but an extract from the Unified State Register is made.

When choosing an apartment to buy with a mortgage, clients focus on the following things:

• The cost of housing, the adequacy of the seller, flexibility in completing the transaction;
• Location of the residential property. In particular, buyers pay attention to the distance from schools, kindergartens, work, transport interchanges, and healthcare facilities;
• Possibility of subsequent resale of real estate if necessary;
• Prices for utilities, home maintenance.

https://www.youtube.com/watch?v=ytadvertiseru

Before concluding a mortgage deal to purchase a home, it is important to make sure that the selected property meets the basic banking criteria:

• No illegal redevelopment, wooden floors, or changes in external boundaries;
• Possesses optimal technical condition;
• It has all the communications necessary for living, there is a separate entrance;
• Located in an apartment building, the depreciation of which at the time of execution of the mortgage transaction agreement does not exceed 70 percent;
• Ownership rights belong to the seller.

If housing with a mortgage from Sberbank is purchased on the secondary market, then it is important to make sure that it does not include incapacitated owners or persons in prison.

Mortgage insurance

A property that is purchased with a mortgage and also becomes collateral for Sberbank is subject to compulsory insurance. As part of the program, the client can also use personal insurance (life and health) on a voluntary basis. However, if he refuses, he may face higher interest rates.

Sberbank itself offers companies from which you can insure. He has established cooperation with them. It is worth clarifying that the client has the right to independently find an insurer. And this should in no way influence the bank’s decision on the application.

The insurance contract is signed at the time the mortgage transaction is concluded. This document identifies the risks of loss or damage to housing, resulting in payments.

4 banks that are happy to issue mortgage loans

If the client agrees to insure his life and health, then this becomes a guarantee for the bank, as well as for the borrower, that the debt will be repaid to the lender.

Thus, there is no single answer to the question about the time to apply for a mortgage at Sberbank; it can vary from 2-3 weeks to several months, everything will depend on the coordination of your actions.

When applying for a mortgage loan, borrowers always have a large number of questions, and not only regarding interest rates, but also how long it takes to obtain a mortgage from Sberbank . This period extends from the moment the loan application is submitted until the agreement is signed between the credit institution and the client.

Many lending institutions advertise that mortgages can be processed within two or three days. But this figure is far from reality. a mortgage will be issued at Sberbank during such a time period . This procedure is complex and is carried out in several stages, each of which takes a certain time . The process is labor intensive and requires a total of several months to complete.

In order to find out how long it takes to obtain a loan to buy an apartment from the country’s largest bank, you will need to consider the main stages of this process and find out their approximate timing.

How long does mortgage approval last in Sberbank?

To apply for a mortgage loan, the applicant must write an application and provide a Sberbank employee with a set of necessary documents. The papers will be reviewed by the bank's lawyers within ten days.

The decision made by the credit committee will be sent to the client’s email. How long does Sberbank mortgage approval last? The decision is valid for two months.

During this time, the client will be able to select an apartment and collect all the necessary documentation for the loaned premises.

Do I need to take out a mortgage?

A person who decides to get a mortgage application approved must understand that the cost of the loan is determined not only by the interest rate. The total overpayment on a housing loan consists of the following parameters:

• Commission expenses;
• Insurance premiums;
• Fees for legal services (registration of property rights, notarization of documents, etc.);
• Professional assessment of living space;
• Rent of a bank safe (when paying in cash);
• Payment for realtor services;
• Amendments to the loan agreement;
• Obtaining consent from Sberbank to carry out actions with a collateral apartment (redevelopment, moving in tenants, etc.);
• Inspection of a construction site by a Sberbank employee.

Penalty interest may be added to the listed expenses, which are accrued if the housing loan repayment schedule is violated. We must not forget that a citizen is obliged to maintain the collateral property in proper condition.

He will have to do ongoing repairs in the apartment at his own expense. Taking into account all additional expenses, the final cost of a mortgage loan can reach 18-20% per annum. Not every family budget can withstand such a financial burden.

A Sberbank client must be prepared for the fact that he will have to overcome not only material, but also psychological difficulties. Many people who have taken out a mortgage live in constant fear. They are afraid of losing their jobs and breaking their payment schedule.

Failure to repay the loan on time will lead to legal proceedings, during which the bank may seize the collateral property. Constant stress undermines the health of the borrower and guarantors. Thoughts about a mortgage get on your nerves and lead to family scandals.

In some situations, a mortgage becomes a reason for divorce.

In fact, the mortgage borrower is not the full owner of the premises. He cannot independently carry out redevelopment and major repairs. You cannot register third parties or accommodate tenants in the apartment.

Any actions with collateral real estate require the approval of the credit committee. The lender needs to make sure that the collateral is in proper technical condition.

The mortgage recipient must be prepared for a visit from inspectors.

Some inexperienced borrowers first look for collateral and then apply for a loan. Premature signing of the contract for the sale of the premises leads to the loss of the deposit transferred to the seller. This will happen if the mortgage application is rejected by Sberbank.

Clients who have the opportunity to apply for a loan should not forget how long mortgage approval at Sberbank is valid. Collateral housing must be found within 60 days. Otherwise, the application will have to be resubmitted. Mortgage approval may take a long time.

Mortgage products of Sberbank

Mortgage programs presented on the bank’s website allow you to solve the following problems:

At the first stage of applying for a mortgage, the client determines the purpose of receiving the loan. Next, he needs to select a specific financial product that has the following parameters:

• Minimum and maximum loan amount;
• Interest rate;
• Duration of the contract;
• The amount of the down payment;
• Features of insurance of a construction site;
• Requirements for applicants;
• Features of servicing and repayment of a housing loan.

In addition to standard mortgage products, Sberbank has special programs that allow you to use government subsidies and take out non-targeted loans secured by real estate.

The counterparty must choose one of Sberbank’s offers based on its own financial capabilities and marital status. Before signing a loan agreement, it is necessary to clarify all controversial issues and find out the full cost of the loan.

How long does Sberbank mortgage approval last? The answer to this question depends on the amount of information the client has provided to the lender.

What documents do you need to collect to get a mortgage?

To approve a loan application, you must prepare the following documents:

• Application (a sample is available on the Sberbank corporate portal);
• Document confirming employment;
• Salary certificate;
• Passport of a citizen of the Russian Federation;
• Marriage certificate;
• Documents confirming the income of co-borrowers.

The provided certificates must contain reliable information about the financial situation of the applicant. To register real estate as collateral, you must present the following documentation:

• Certificate of state registration of ownership rights to living space;
• Papers on the basis of which the ownership of housing arose;
• Housing assessment report (compiled by a company accredited by Sberbank);
• Statement of absence of encumbrances (issued in Rosreestr);
• Technical plan of the premises;
• Consent of the spouse to carry out transactions with real estate (notarization of the paper is required);
• Permission from guardianship authorities (if available);
• An extract confirming the absence of registration of unauthorized persons in the apartment.

If the pledgor is a legal entity, then its representatives are required to provide:

• The current charter of the company;
• An extract from the Unified State Register of Legal Entities with a limitation period of no more than 30 days;
• Protocol on the election of governing bodies of a commercial organization;
• Documents confirming the authority of a third party who acts on behalf of the company.

The list of documents can be expanded and supplemented at the request of the credit institution or in connection with changes in current legislation. How long does Sberbank mortgage approval last for legal entities? The approved application is valid for 2 months.

How to choose collateral for a mortgage?

Sberbank cooperates with a large number of construction companies. A developer planning to sign an agreement with a credit institution must meet the following requirements:

• Comply with the regulations described in Federal Law 214;
• Have an exemplary business reputation;
• Comply with financial stability standards.

Each developer is required to provide the following documents to Sberbank:

• Statement;
• Financial statements indicating the amount of funds raised from citizens under DDU agreements;
• Permitting documentation for the construction or reconstruction of a house;
• Agreement to lease or purchase a plot of land (valid for a limited time);
• Construction contract;
• Permission to commission residential buildings;
• Project documentation;
• Photos of houses and construction site;
• Sample share agreement.

The decision to cooperate with a particular construction company is made within a week. All accredited construction companies are divided into several categories depending on the degree of readiness of the constructed residential buildings.

Purchasing living space from an accredited developer is a guarantee of the legal purity of the transaction.

The borrower must remember how long the mortgage approval from Sberbank is valid, since he will have to prepare documentation for the loaned object within a limited time frame.

How to pay off your mortgage?

Annuity contributions must be made according to the schedule attached to the loan agreement. The client can deposit money at the bank's cash desk or by wire transfer. Many Sberbank counterparties prefer to repay the loan ahead of schedule. Unscheduled loan repayment allows you to save money on interest and insurance premiums.

The mortgage recipient has the right to refinance his debt by taking out a new loan with a lower interest rate. You can also agree with Sberbank to provide “mortgage holidays”. Approval of a deferred payment will allow you to accumulate money to make the next annuity contribution.

The third option for debt repayment is associated with the sale of real estate. Selling a mortgaged apartment is a last resort to quickly pay off debts to Sberbank. If the borrower does not repay the loan and refuses to contact the credit institution, then Sberbank may sell the debt to a collection company.

The next stage of the collection procedure will be a statement of claim in court. After this, the apartment will be put up for auction. If the FSSP service does not find buyers for the real estate, it will be transferred to the bank’s balance sheet. A client who becomes a defendant in enforcement proceedings will permanently damage his business reputation and credit history.

To make payments on time, you can use the following options:

• Creation of financial reserves;
• Use of government benefits;
• Search for additional sources of income;
• Reducing the debt burden and family budget expenses.

Timely financial planning and mastery of basic economic concepts will help the borrower avoid conflict situations when repaying mortgage debt.

Source: https://s-ipoteka.info/oformlenie/skolko-dejstvuet-odobrenie-ipoteki-v-sberbanke.html

Choosing a loan program

This is the very beginning of applying for a mortgage at Sberbank . First, the borrower needs to decide which program he wants to use a mortgage under. Today Sberbank provides the following options:

• Purchasing apartments in a building that is considered a new building;
• Purchasing real estate in an apartment building under construction;
• Registration of a mortgage for the construction of a private house;
• Loan for the purchase of a country property.

When applying for a mortgage at Sberbank, it is very important to choose the most suitable lending option for yourself. Please read the terms and conditions carefully and consult with the bank’s credit specialists.

What to do after your mortgage application is approved?

Now you have received the long-awaited answer from the bank - your mortgage has been approved! What to do next? Depending on the terms of your mortgage (on general or preferential terms), you will need to prepare all the documentation for the housing you are purchasing, and if you have not chosen an apartment yet, you will need to find an apartment and provide documentation on it to the bank for approval:

• Contract of sale.
• An application from the wife/husband regarding consent to the transaction (notarized) or a certificate of absence of the spouse.
• Cost estimate according to the expert's report.

The borrower has only 2 months to submit these documents.

Depending on the type of person from whom you are going to buy housing - a legal entity or a company, additional documents may be required; the bank will ask you for them if necessary. The same applies to building your own private home.

First payment after mortgage approval at Sberbank

After all the above steps, in parallel, you will need to confirm the availability of the required amount for the first mortgage payment, for example, this could be an account statement from Sberbank or any other bank.

Conclusion

The process of getting a mortgage is interesting and tricky at the same time. It is better to prepare for a mortgage in advance - since only 2 months are given to conclude a mortgage agreement, during which you will need to agree with the bank on all the necessary documentation for the property, as well as make a down payment. The most convenient way to choose housing is on the DomClick portal from Sberbank, because there the process of obtaining a mortgage is as simplified as possible:

• Register on the portal and upload all the necessary documents for the borrower
• Choosing a home from a real estate catalog
• We calculate preliminary loan conditions based on the housing by selecting a loan program
• We receive the bank's decision

Another advantage of this method is the electronic execution of the transaction using an electronic signature - the tax on the purchase of real estate is perfectly refunded for housing purchased in this way. We wish you success in purchasing a home with a mortgage!

Collection of documents for the bank to make a decision on the mortgage

The timing of obtaining a mortgage at a credit institution depends on how long it takes for the client to collect a package of documents and an application so that the bankers make a decision on the application. To shorten this period, you can prepare papers in advance and transfer them to Sberbank without wasting time . The package includes the following documents:

• Copies of passport pages;
• A certificate confirming the borrower's income level. It must be of the established pattern;
• Duplicate work book. It is required to confirm the citizen’s work experience;
• An application filled out by the borrower and submitted to the bank.

Factors affecting the review period

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Sberbank is attentive to each of its clients, so the manager conducts a mortgage transaction at the following important stages:

• Concluding agreements, including purchase and sale agreements for an apartment, insurance, and mortgage;
• Registration of a transaction when transferring ownership rights from the seller to the buyer;
• Registration of an apartment, as well as a mortgage;
• Settlements with Sberbank;
• Mutual settlements with the seller, insurance company (it is worth noting that the client pays for insurance services at his own expense), intermediaries (if the borrower resorted to their help), government agencies (all mandatory payments and contributions must be made at the client’s own expense).

The first factor that influences the consideration of the application is the type of credit program chosen by the Sberbank client. If the borrower plans to use a mortgage to build a house or purchase housing in new buildings on the secondary market, then the period will be from two to five days. At the same time, during the discussion of the application by bank employees, holidays and weekends are not taken into account.

It may take up to six days to review application documents for a military mortgage or refinance of a mortgage loan from another lending institution.

Also, an important factor that influences how long the bank will work with the client’s application is whether he has a permanent job. At the same time, the credit institution carefully reviews the list of documents confirming the borrower’s solvency. It is necessary to ensure that he can fulfill his obligations under the debt. Credit history also matters.

Paper applications from payroll clients of a financial institution are reviewed in a shorter time than 5 days. The reduction in terms of time for them is on average up to two days.

This is due to the fact that they do not require the collection of documents confirming the level of income and the presence of official employment. The fact of salary transfer confirms this. They have a simplified system for collecting paperwork for obtaining a mortgage. All other categories of borrowers will have to spend time collecting the documents required by standard rules.

Apartment search

If you decide to take out a mortgage from Sberbank , then the most important step for you will be finding a suitable housing option. This procedure is labor-intensive and can take about a month. shorten your day by contacting professional realtors and real estate agencies. Specialists navigate the real estate market more easily and can easily find suitable options for the client. With them, it is possible to reduce the time it takes to obtain a mortgage .

Finding housing takes varying amounts of time. This period can be two weeks or a whole month. An apartment can be found at different times depending on numerous factors. The term depends on the customer’s requirements, the seller’s willingness to sell the property and many other conditions. The longer it takes to select a property, the longer the bank and the client will not be able to start processing a mortgage loan.

At this stage, borrowers independently decide whether to search for apartments on their own or turn to professionals in this matter. You can spend a day if you can immediately decide on an option. But it’s better not to delay resolving this issue, since there are still further stages of registration , which also take time.

Mortgage in 2 days in 2020 – a publicity stunt or the truth?

To attract customers, some banks assure that anyone can get a mortgage from them in just 2 days. But in practice, it is unrealistic to obtain a mortgage in such a short period of time.

And all because the entire process of receiving money from the bank takes place in several stages:

1. Submission of an application and preparation of documents for consideration by the bank of the borrower's candidacy. Approval of the application.
2. Search for housing.
3. Coordination of the property with the seller and the bank.
4. Insurance and real estate valuation.
5. Registration of purchase and sale transactions and mortgage agreements.
6. Obtaining a certificate of ownership of real estate.

To understand how long the entire process of drawing up a mortgage agreement will take the borrower, you need to consider the stages of the transaction and their duration.

Time frame for the bank to consider an application from a potential borrower

Before finding out how long it takes the bank to consider a mortgage application, the borrower must first collect a minimum package of documents and submit an application.

If a person applies for a mortgage under the general program, then he must take a certificate from his place of work about his salary. It may take 2 days to request such certificates from a company, process them and sign them, so it is unrealistic to obtain a mortgage in 2 days.

But if a person takes out a mortgage loan under an individual program, for example, “By 2 documents,” then he only needs to bring a copy of his passport and another document that identifies the borrower (international passport, SNILS, driver’s license). In this case, the borrower can prepare documents and submit an application in 1 day.

After submitting documents for consideration, the lender (bank) must check the documents, accept them and take them back for consideration as a borrower.

A decision regarding a potential borrower’s application can take from 2 to 10 days. But this period may be extended if the bank requires additional documents from the borrower or needs to check some information about him.

Typically, banks themselves are interested in making a decision on an application as soon as possible, so they consider applications no more than 3 days.

To speed up the process of making a decision on an application, a potential borrower must understand what criteria influence the speed at which the bank makes a decision on a mortgage application:

• if a person is served by the bank where he plans to take out a mortgage, then the application can be considered on the day the application is submitted. In addition, when applying for a mortgage at the bank where the client is served, he does not need to take out a salary certificate;
• if a person has previously applied for a mortgage or loan with the selected bank, and he has a positive credit history, then the bank can speed up the process of considering the application;
• If the client chooses a mortgage program that is profitable for the bank, then he will quickly receive approval for his application. For example, if he indicates that the amount of the down payment will be 50%, then the bank will quickly make a decision, since it is obvious that the person is solvent if he can pay half the cost of housing at a time.

How long does it take to find housing?

Some borrowers mistakenly think that they need to look for housing before they submit an application to the bank. But financial organizations strongly do not recommend doing this, because, firstly, not every property may meet the bank’s requirements, and secondly, not every seller is ready to work with a buyer who wants to buy an apartment with a mortgage.

And thirdly, even if an apartment is found, there is no guarantee that the bank will approve the borrower. Therefore, you need to start looking for housing after the bank approves your application.

Usually it takes a person 1 month to find a suitable property. After the borrower's candidacy is approved, the bank gives him a period of 3 months to find housing.

At this stage, banks themselves usually offer the borrower specific types of real estate, since many cooperate with developers . If a borrower plans to buy housing on the secondary real estate market, then first he must find out from the bank what requirements a particular apartment must meet in order for the bank to issue a mortgage for its purchase.

If a person cannot find a suitable apartment to buy, and deadlines are running out, then it is better to use the services of a realtor . This specialist knows exactly which apartment will suit the borrower and satisfy the bank’s requirements.

Time to coordinate the property with the seller and the bank

When looking for real estate with a mortgage, it is very important to draw the attention of sellers to the fact that the apartment will be registered under a mortgage agreement.

If you hide this fact, a situation may arise when the seller at the last minute refuses to sell the apartment to the buyer because he does not want to contact the bank.

Conducting an assessment of the selected housing

When applying for a mortgage loan at Sberbank, after searching for suitable real estate, a mandatory assessment of the residential property is carried out. This procedure is carried out exclusively by organizations that are accredited by Sberbank . This is an important point when getting a mortgage

drawn up by experts from accredited institutions. This procedure is required in order to reduce risks for Sberbank and the client himself in situations where disputes arise. Much attention is paid to the preparation The process takes from 2 to 3 days.

Mortgage Loan Costs

Most people don't know what mortgage application costs they'll incur if they're approved for a loan. Often, this behavior leads to borrowers incorrectly calculating the full cost of the apartment. As a result, they subsequently have problems repaying the loan.

When buying a home on credit, you have to pay for various services, which can range from 3-10% of the value of the property. For example, some banks charge a fee for processing a mortgage application. Moreover, if the financial institution refuses to receive a loan, the borrower will not be able to return the money paid.

The main condition for obtaining a mortgage loan is an independent assessment of the property being purchased. This procedure is carried out to determine the loan amount. Most often, banks already cooperate with some appraisers. Therefore, the client does not have to look for experts himself. True, for such a service you will have to pay about 5-20 thousand rubles.

You will also need to fork out for insurance. According to current legislation, when purchasing an apartment, you must protect yourself from the loss of your home and its damage. In addition, banks may refuse to obtain a loan if the borrower does not insure ownership of the apartment and life. Therefore, insurers will still have to pay a few percent of the cost of the home.

You should also remember about additional fees from financial institutions: for renting a safe deposit box, wire transfer or withdrawal of funds. If difficulties arise with debt repayments, the bank will charge fines and penalties. It is advisable to avoid such situations in order to avoid problems.

Real estate insurance

At this stage, you need to take out insurance for the selected residential property. This procedure is mandatory and provided for by Federal mortgage . Insurance takes approximately one week. A citizen does not need to search for a suitable company. Sberbank has a list of accredited companies that will carry out the procedure if insurance has not previously been issued .

In addition to real estate insurance, Sberbank may offer the option of life and health insurance for the client. If you decide to take out a mortgage , then this procedure is not mandatory. It is offered by the bank on a voluntary basis. It is used as an additional guarantee for a credit institution. When applying for it, the client can count on lowering the interest rate and preventing its increase.

Collection of statements

At one stage, the client needs to contact the Sberbank where he is issued a mortgage loan, and receive a loan statement there. This will take 1-2 days . To receive such a package of documents, the borrower will need the following:

• Identity document;
• Number and date of the mortgage agreement;
• Credit account number.

Also, employees of the banking institution must indicate the period of time for which the statement is needed. takes on average up to 2 days.

After all statements are ready and provided to the borrower, Sberbank and the client begin preparations for the transaction. The process also takes time and can last for a variable period of time. It depends on how quickly the credit institution checks. Its employee needs to make sure that all documents are in place and compiled correctly.

Applying for a mortgage loan

It is also worth noting that financial institutions impose their own requirements and restrictions on borrowers. For example, in order to get a loan for housing, you must have a permanent residence permit and a job. In addition, the borrower’s total work experience must be at least 1 year. If the client’s credit history is damaged, then it is unlikely that he will be able to get a mortgage. In addition, he should not have a criminal record or other parallel loans. The minimum age for receiving a loan is 21 years, and the maximum is no more than 65-75 years at the time of repayment of the mortgage.

When filling out the application, you can specify co-borrowers, who can be brothers, spouses, parents or acquaintances. A man under 27 years old must present a military ID to the bank. Without it, the loan will be denied, even if it is deferred due to study. When an application for a mortgage is submitted simultaneously to several banking organizations, it is necessary to find out more detailed requirements for borrowers and the procedure for purchasing real estate in each of them. Once your mortgage application is approved, you can begin choosing suitable housing. The bank allocates several months for these activities.