Minimum mortgage amount at Sberbank - what is its size in 2021

Minimum mortgage amount at Sberbank in 2021

The concept of “minimum mortgage in Sberbank” can be interpreted in two ways. There are two parameters to consider here. The first is the minimum amount according to the terms of the mortgage program, i.e. the one less than which the client cannot receive even though he does not need that much money. The second parameter is the lower threshold that the borrower should count on. It can be an order of magnitude higher than the value established by the mortgage program and depends on many factors.

These include:

• the amount of income of the borrower;
• presence or absence of deposits in Sberbank;
• the cost of the pledged property (if provided for by the program);
• down payment amount;
• credit history of the borrower.

After analyzing all the data received, the bank makes a decision on the possibility of issuing a loan and determines the lower and upper threshold of the amount that the borrower can count on. Next, the client will decide for himself how much money to take from the bank. At the same time, he will not be able to take more than the designated limit and less than the minimum threshold amount provided for by the terms of the loan.

Expert opinion

Irina Bogdanova

Expert in the field of mortgage lending.

Today, all standard mortgage lending programs of Sberbank have the same minimum amount limit - 300,000 rubles. The exception is a non-targeted loan for the purchase of housing secured by real estate. Under this program, the threshold value has been increased to RUB 500,000.

The minimum down payment for standard programs varies from 15 to 25% of the cost of the purchased home. The maximum amount can be up to 95%, the main thing is that it does not exceed the limited limit of 300,000 rubles.

Buying a home without a down payment is possible under the Military Mortgage program. In this case, the minimum threshold value will be the same 300,000 rubles, but the maximum amount is limited to 3,251,000 rubles.

There is no need to deposit money in cases where the loan is taken out against existing real estate as collateral.

Another option is the “Mortgage plus maternity capital” program. Funds from the certificate are used to repay the down payment.

It is worth taking into account another type of lending for which minimum indicators are important - refinancing a home loan. The program allows you to refinance only one mortgage (both for a new building and a secondary one) obtained from another bank, but at the same time allows you to add any other loans (consumer, car loan, card debts). The minimum loan amount is also 300,000 rubles, the maximum threshold is limited to 80% of the value of the property purchased with a mortgage.

A loan secured by real estate, which requires a minimum rate of RUB 500,000, has one of the highest thresholds. The borrower can take out a loan of up to 10 million rubles. In this case, the size of the loan issued by the bank is necessarily calculated taking into account the estimated value of the mortgaged property. The higher it is, the more money you can get (but not more than 60% of the value of the property pledged as collateral).

Expert opinion

Irina Bogdanova

Expert in the field of mortgage lending.

For early repayment of debt, Sberbank does not have minimum rates. You can repay the loan ahead of schedule, either partially or in full, without fees or penalties.

When choosing the optimal lending option, it is recommended to take into account mortgage rates in Sberbank. After all, the amount of overpayment and monthly payments directly depends on them. There are no interest-free loans at Sberbank. But there is a preferential lending program “State Support 2021”. It will be valid until July 1, 2021, the special rate on it is 0.1% during the year, and then 5.75%. The maximum loan amount is RUB 12,000,000. for residents of Moscow, St. Petersburg and the Moscow and Leningrad regions. The population of other regions of the Russian Federation can apply for a loan of 6,000,000 rubles.

Another option with a low rate is “Mortgage from 0.1% for families with children.” This is also a state support program for families, but its main condition is the presence of two or more children, and one of them must be born no earlier than January 1, 2021. Its validity period ends on December 31, 2022, the rate is 0.1% for the first year and 4.7% thereafter. The maximum loan amount is the same as under the “State Support 2021” program.

Programs with state support are not available to every Russian family, so those clients who cannot qualify for this type of preferential lending should pay attention to a type of loan such as “Mortgage for new buildings.” For the first year of payments, this loan provides a discount from the developer from 0.9 to 1.2%, after which the standard rate of 7.6% is applied. The maximum loan amount is not higher than 85% of the cost of housing purchased under the program. For clients receiving salaries into a Sberbank account, this figure will be 95%.

Expert opinion

Irina Bogdanova

Expert in the field of mortgage lending.

In order not to overpay for a loan, you need to take all these parameters into account when choosing a mortgage program.

The official website of Sberbank provides complete information on each type of lending, so choosing the appropriate option for yourself will not be difficult.

Attracting co-borrowers will increase the chance of mortgage approval

To increase your chances of getting a mortgage approved when there is only one person working in the family, involve co-borrowers. You are allowed to involve a family member, relative or friend as a co-borrower - this must be a person who is willing to share the risks with you. Large banks such as VTB, Alfa-Bank and Sberbank allow two co-borrowers. The bank will require a 2-NDFL certificate from the co-borrower from work.

The borrower and co-borrower have joint and several obligations under the loan. And if the borrower fails to repay the debt, the bank will demand the money back from the co-borrower. But when only one of the spouses works in the family, the second one will not be able to act as a co-borrower, because he will have no income.

Ask your parents or friends to become your co-borrower on the loan. This option is suitable for borrowers who plan to pay more than 40% of their family income on a mortgage.

What is the minimum monthly payment for a Sberbank mortgage?

When choosing a mortgage, you must rely primarily on your own solvency, because you will have to repay the loan every month for many years. Mortgages from Sberbank are issued on fairly favorable terms, but even so, they cannot be called accessible to all segments of the population. Therefore, you need to choose a program for yourself that will allow you to reduce the amount of monthly payments to a minimum.

The latter depend on many factors. The most important of them are the loan amount itself, the interest rate on a Sberbank mortgage and the term for which the loan is taken out. These indicators should be relied upon when choosing.

The loan payment will be minimal if a small amount is taken, at the lowest interest rate and for the longest possible period. But as a rule, there are no mortgage programs that meet all the client’s wishes. In addition, there is one important condition that Sberbank puts forward - the monthly payment should not be more than 50% of the client’s confirmed income.

You can figure out the size of the monthly payment for each mortgage program using the table below. It is based on the following indicators: the cost of the purchased property is 3,000,000 rubles, the loan term is 20 years. On their basis, the average monthly loan payment is calculated.

All these calculations can be done independently using Sberbank’s online mortgage calculator. In the program, you need to select the type of mortgage and enter the necessary parameters (the cost of the property being purchased, the amount of the down payment, if it is intended to be made, the term for which the loan is taken). The calculator will show the interest rate, the size of the monthly payment and the schedule for depositing money for the entire loan period.

The calculator will also indicate the minimum amount of required income, but this information should not be trusted. Most likely, it will not suit the bank.

To be sure that the application will be approved, it is better to use a simple formula: the payment shown by the program must be multiplied by 2.5. If the result is a number more or less close to the amount of your earnings, then you can count on approval of the application.

Registration of a transaction for Sberbank employees

To register a mortgage and receive an extract from the Unified State Register, an ordinary client personally goes to Rosreestr or the MFC. However, in the case of a Sberbank employee, the procedure is simplified. He can sign documents directly at his place of work with an electronic digital signature, and then send them to Rosreestr.

In turn, the employee will also receive documents about the registered mortgage by email, which will significantly save him time. The status of consideration of the documents sent by him can be tracked on the Rosreestr website.

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.

How to increase the period, what it depends on

Can a bank minimize the loan term for a specific borrower? Yes, he has the right to do so. But Sberbank does not do this. For all of its mortgage programs, it allows for a maximum term of 30 years.

If for some reason the lender reduces the loan term, then you can try the following methods to increase it:

• Select other co-borrowers whose level of official income will be higher than the previous ones;
• Increase the amount of the down payment by at least 1%;
• Become a participant in the Sberbank salary project;
• Transfer a deposit opened in another bank to this financial institution;
• Reduce the cost of real estate - choose another property. There are promotional offers for residential areas. They have a reduced rate and a minimum loan term of up to 7-10 years. When choosing another object, the loan term increases;
• Agree to voluntary life and health insurance for the co-borrower.

These methods can increase the loan term under a mortgage agreement.

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.

What requirements does the bank impose on borrowers?

Above, we have already mentioned the bank’s requirements for mandatory citizenship and registration of the future mortgage borrower. However, Sberbank imposes additional requirements on a client wishing to apply for a mortgage:

1. Age. The loan is issued to persons over the age of 21. The maximum age for obtaining a mortgage is 75 years at the time of making the last payment.
2. Duration of employment . Work experience at the last place of work for at least 6 months. Total employment experience of at least 12 months over the last 5 years. The requirement regarding general length of service does not apply to Sberbank’s salary clients.

When considering an application, the bank pays special attention to the level and stability of the borrower’s income. If you receive a low salary or it is paid unstably, the bank will refuse a mortgage.

Expert opinion

Alexander Nikolaevich Grigoriev

Mortgage expert with 10 years of experience. He is the head of the mortgage department in a large bank, with more than 500 successfully approved mortgage loans.

To increase the loan amount and income level, the bank allows you to attract co-borrowers. The spouse of the main borrower must become a co-borrower, regardless of age, employment or salary. The exception is the presence of a marriage contract, which says otherwise.