Is it possible to get a mortgage for one person: bank conditions and reviews

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One of the most common questions that novice borrowers have is whether one person can take out a mortgage? Or do banks only approve families? Is it necessary to involve guarantors and co-borrowers in a mortgage transaction? We will try to answer this question in this article.

How to Apply Online for a Mortgage

You can submit an application and receive a mortgage decision without visiting a branch. To do this, just go to the website of the selected bank and fill out a form.

For example, in the application of Rosselkhozbank you must indicate:

• a bank branch where it is convenient to obtain a mortgage;
• FULL NAME.;
• date of birth;
• contact details (phone, email);
• desired loan parameters (term, amount).

How can these problems be solved?

You have already been rejected by the bank, but have you still wanted to buy a home on credit? Then use the following tips:

1. Find a co-borrower or guarantor, and he must have a good credit history.
2. Try applying to another bank; perhaps a company with a more favorable credit policy will not refuse you a loan.
3. Before you apply for a loan, find out what your credit history is. Also find out if your employing company is on the blacklist of banks.
4. Increase the down payment to the required amount - this can be done by applying for a consumer loan or credit card.
5. Contact a mortgage broker for help.
6. Take advantage of the “Housing in installments from MRZHK” program.

It is important to initially correctly assess your own strengths and capabilities. It is possible that the mortgage you plan to take out alone will become an unbearable financial burden for you.

Don't take on overwhelming obligations that you can't fulfill. Also, you shouldn’t immediately apply for an expensive apartment; you can first buy inexpensive housing, pay off the loan in full, and then register it as collateral when buying a new, more expensive apartment. In addition, such housing can be rented out and the mortgage paid off with the proceeds.

We advise you to take advantage of government support to receive a cash subsidy for the purchase of housing - they can be issued by a region or municipality.

Currently, the following programs are available to citizens of the Russian Federation:

1. “Social mortgage” - public sector employees can take advantage of it.
2. A special program for young families (the age of such family members is up to 35 years).
3. Military mortgage - military personnel who are members of the NIS can take advantage of it.
4. There are also current proposals for large families that provide for the use of Maternity Capital.

In fact, there are many ways to get a home loan, even if you plan to repay it yourself. You just need to find a suitable bank offer.

Why is it more profitable for banks to issue a mortgage for a family?

Banks are reluctant to approve mortgages for single or unmarried clients. It is important for them to minimize their risks when issuing money, so a family is preferable as a borrower.

Let's take a closer look at why banks more often approve a mortgage for a family than for a single client (for example, even without a co-borrower):

• It's easier for two adults to pay off debt. The income of two spouses is higher than that of one person and, accordingly, the likelihood of delay is reduced.
• Increased responsibility. If a man is not married or a woman is not married, then you have to think only about yourself, but if you have a family, responsibility arises for its other members, especially if there are children.
• Less chance of mortgage default. Even if one spouse's wages are delayed or he loses his job, the likelihood of defaulting on a mortgage loan will be lower.
• Simplified debt collection. It is easier to influence a person who evades paying a debt through a spouse or other relatives. If they are co-borrowers on the loan, the bank has every right to demand payment of the debt from them.

Why is it harder for a single person to get a mortgage?

What does the bank pay the closest attention to when considering an application? That's right - financial situation. In essence, only one thing is important to lenders - that the loan is repaid on time and on time, without becoming overdue.

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Therefore, when filling out an application, banks focus not on how many borrowers will participate in the transaction, but on what the client’s income level is and how stable it is. You will learn about what level of salary is usually sufficient for a mortgage in this article.

Most often, to obtain a loan in the amount of about 1 million rubles, an official confirmed income of 30,000 rubles or more is required. If you need a larger amount, then your salary should increase accordingly - from 35-40 thousand rubles. per month. And if you have similar income, then the company will not care whether you are the only one signing the contract or not.

Why, then, is it easier for a young family to get a loan than for a single middle-aged person?

There are several reasons:

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• It is easier for two people to repay a loan than for one person. If one of the spouses gets sick, loses their job or goes on maternity leave, the other will continue to work. Therefore, although the family’s income level will decrease, the ability to continue to repay it will remain.
• In the event of the death of one of the borrowers, the second will most likely continue to pay off the debt - especially if the home is the only one.
• The average family's total income is more than one person's salary.
• If a client avoids paying a debt, it is easier to influence him through relatives or a spouse. This link tells you what the bank will do if the client stops paying the debt.

It is for this reason that banks are more likely to approve applications from families than from single borrowers. But this is not yet a reason to be upset and give up the idea of ​​renting a home using borrowed funds.

Under what conditions can you get a mortgage?

A mortgage loan is issued for the purchase of an apartment in a finished or under construction building, apartment, townhouse or individual residential building. Sberbank also offers a mortgage for the purchase of a garage or parking space.

The loan is secured by the pledge of purchased or owned real estate. The collateral must be insured against the risks of loss or damage for the entire term of the loan agreement. Life insurance is available upon request.

Most banks require a down payment. In Sberbank, Rosselkhozbank, Raiffeisenbank and Alfa-Bank it is at least 15%, in VTB - from 10%, in UBRD - from 20%, and in Promsvyazbank you can register an apartment without a down payment.

The maximum loan amount in Rosselkhozbank and VTB is 60 million rubles, in Alfa Bank - 50 million rubles, in Promsvyazbank and UBRD - 30 million rubles, in Raiffeisenbank - 26 million rubles, and in Sberbank the size of the mortgage is limited only by your solvency and the cost of housing. The loan term in VTB, Rosselkhozbank, VTB, Alfa-Bank, Sberbank and Raiffeisenbank is up to 30 years, and in UBRD – up to 25 years.

The minimum rate in VTB and UBRD is 8.9%, in Alfa Bank - 8.99%, in Promsvyazbank and Sberbank - 8.6%, in Rosselkhozbank - 9.3%, and in Raiffeisenbank - 10.25%. If you cancel life insurance, it will increase by 1%.

What are the requirements for a mortgage borrower?

• For starters, it's age. Most banks are ready to approve a loan application only for borrowers over 21 years of age, and there are those who work only with individuals over 23-25 ​​years of age; this needs to be clarified in advance.
• Naturally, the client must have a permanent job with income that he can document,
• It is necessary to have at least 6 months of work experience in one place, preferably at least 1 year,
• You must have enough funds to pay the down payment. In the vast majority of banks it is at least 20% of the cost of real estate; there are programs, for example in Sberbank of Russia for young families, when the minimum PV is reduced to 15%,
• You must have a positive credit history. For a borrower with a bad credit history, the option of obtaining a mortgage exists only with the help of the MRZHK company - and this form of loans is a lease with purchase. But we will talk about this in more detail another time.

In order to get approval faster, a single client should agree to voluntary insurance - especially life, health and disability insurance, as well as against loss of income and employment. This will also increase his chances of receiving the coveted home loan.

4 banks that are happy to issue mortgage loans

You can refuse insurance after receiving a loan, more details here.

Requirements for the borrower

Many banks provide mortgage loans only to citizens of the Russian Federation, but at VTB, Alfa-Bank, Raiffeisenbank and some others you can get a mortgage even if you have citizenship of another state.

To receive a positive decision on your application, you must meet the following requirements:

• age at the time of application - from 21 years (in UBRD - from 23 years), and at the end of the loan agreement - up to 65 years (in Sberbank - up to 75 years);
• official income that allows you to pay monthly installments (the bank will tell you the exact amount);
• work experience with the current employer - from six months (at UBRD - from 3 months);
• total experience – from one year.

Can a single mom take it?

It is more difficult for single mothers to get a mortgage loan even with a sufficient salary. A child is an additional expense, so your personal budget may not be enough to repay the loan.

To help vulnerable categories of citizens purchase their own housing, the state provides social and preferential mortgage programs. The Housing Mortgage Lending Agency (AHML) provides a unique opportunity to obtain a mortgage on preferential terms - from 6% per annum for up to 30 years.

What documents are needed?

When submitting an application, you will need a passport, SNILS, a copy of your work record book and a salary certificate. Men of military age must present a military ID. If you receive your salary on the card of the bank where the mortgage is issued, then it is not necessary to confirm your income and employment.

Additional income should also be confirmed by submitting a tax return or a certificate from your part-time job.

Once the application is approved, real estate documents will be required. If you are purchasing an apartment in a building under construction, then you need to submit to the bank a contract of equity participation in construction (DDU) and a package of documents for the developer (Charter, decision on the appointment of a manager, etc.). When purchasing an apartment from a developer who has been accredited by the bank of your choice, you only need to submit an agreement with him.

If you are purchasing an apartment on the secondary market, you need to prepare:

• assessment report;
• the seller's certificate of ownership of the property (if available);
• a document providing the basis for the emergence of property rights of the seller, for example, a certificate of inheritance;
• extract from the Unified State Register of Real Estate;
• technical and cadastral passport;
• an extract from the apartment (house) register.

Algorithm of actions for obtaining a mortgage with one working person in the family

• Prepare all income documents in advance, take a 2-NDFL salary certificate.
• Find out your credit rating yourself and order a statement from the BKI. If your credit history is damaged, you will be denied a mortgage. To improve CI, take an installment plan for goods, get a credit card, or take out a minimum loan from a bank. Pay off your debts on time. The information will be transferred to the BKI, which will improve your credit rating.
• If your credit history is in perfect order, find a bank with an attractive mortgage rate and apply. It’s not worth sending out 5-6 applications at once, because banks use a special program that awards points. If all banks refuse you when you apply, this will be a negative signal to other banks.
• If the bank refuses to apply for a mortgage due to low income, attract a co-borrower with a positive credit rating.

How to get a mortgage alone?

The bank reviews the application within 1-10 days. Once approved, you will need to complete the following steps to finalize your mortgage:

1. Find the right property to buy. You can do this yourself or seek help from a real estate agency.
2. Evaluate the selected property. The assessment report is prepared within 3-10 days. It is recommended to order it from an appraisal company that has been accredited by the selected bank.
3. Agree on housing as collateral with the bank. Its employees will check the property for legal purity within 5-10 days.
4. Buy insurance policies and make a down payment on your mortgage. Funds must be credited to a specially opened account.
5. Agree with the seller on the date of the transaction, sign the mortgage agreement, as well as real estate documentation, for example, a purchase and sale agreement.
6. Register the transaction in the state register. To do this, you need to submit your loan documentation and mortgage to Rosreestr or MFC. The state registration procedure takes 5-10 days.
7. Provide the bank with an extract from the Unified State Register of Real Estate with a note indicating the transfer of ownership of the property.

How to get a loan for an apartment?

1. First you need to select a bank and program . It is better to contact the institution on whose card the salary is received. “Own” bank will offer discounts (usually for salary clients the rate is 0.5% less than the base percentage) and provide improved processing conditions (increased credit limit, longer terms, etc.).
2. Further it is desirable calculate the monthly payment amount on the bank's calculator to determine the amount and terms of the loan. At this stage, it is important to determine for yourself the amount that you are willing to pay monthly to pay off your mortgage.
   It’s good if the monthly payment does not exceed 40% of income. To calculate the loan, you can also contact a bank branch or call the hotline. The consultant will help you choose comfortable repayment terms taking into account the size of your salary.

   Important! Please note that a preliminary loan calculation may not always be approved by the bank. The exact conditions (term, monthly payment and amount) can only be found out after submitting the application.

3. After selecting a bank and program, you need collect documents for a mortgage. What is included in the mandatory list:
   • passport;

   application form (you can find out how to apply for a mortgage online here);

4. income certificate 2NDFL or certificate in the form of a bank;
5. a copy of the work book;
6. bank account statement showing the availability of money for the down payment.

Most banks take into account not only the salary from the main place of work, but also other income: from rent, from the provision of services, royalties, etc. In order for the bank to approve a larger amount, you can provide documents confirming additional income.

7. After receiving a positive response, you need to provide documents for the purchased property .
   The exact list of securities depends on the selected bank and type of real estate. Along with the documents for the property, you must attach an appraisal report on the value of the housing (we talked in detail about who and how to assess the market value of real estate in this material). Then you need to decide on an insurance company that will insure the risks of loss and damage to the premises, as well as the life and health of the borrower in favor of the bank.
8. The final stage is the signing of a housing purchase and sale agreement and the conclusion of a mortgage agreement . After completing all the paperwork, you need to register the mortgage with Rosreestr and register ownership of the purchased home.

Read about whether you can get a mortgage without certificates and additional documents here.

What difficulties are encountered?

The main problem is the harsh conditions of banks. A single borrower may be required to take out life and health insurance and make a large down payment.

How to increase the chances of your application being approved?

Banks consider each application individually. You can increase your chances of receiving a positive decision by following these recommendations:

• Make the largest possible down payment. If the loan amount is at least 60% of the cost of housing, the chances of approval will increase.
• Verify additional income. To do this, you can submit certified bank statements, declarations, etc. to the bank. Availability of additional. income will confirm your solvency.
• Apply for a mortgage at the bank where you have your salary card. Payroll clients are usually more trustworthy.
• Prepare additional collateral. For example, collateral of liquid real estate will convince the bank that you intend to repay the debt on time.

Does the decision depend on gender?

The gender of the borrower does not affect the banks' decision. The most important thing is that the client meets all requirements related to income and work activity. From the position of banks, a single person who is not burdened with children can devote more time to his career. This means that in the eyes of creditors it looks more promising financially.

Is it easy for a divorced woman, a mother of two or more children, to get one?

The bank's decision may be influenced by the presence of children. In this case, banks have different attitudes towards male and female customers. From the point of view of creditors, it is easier for a man supporting a dependent to make a career: relatives can help with the child, and the father himself will make every effort to give a future to his child.

A divorced woman with children is a less desirable client for banks. In addition to her career, she must invest money and effort in raising and maintaining the child. Work often fades into the background. This is why men with children look more promising for banks.

Attention! Thus, the client’s gender does not affect the bank’s decision. But when analyzing a candidate for a mortgage, lenders take into account the presence of children and child support obligations.

What to do if the bank refuses

If one bank refuses to provide a mortgage, you can contact another. Sometimes refusals are related to the credit policy of a particular bank.

But if you have been refused by several banks, you should take the following actions:

• Find guarantors or co-borrowers. These could be close relatives, common-law spouses, etc.
• Check your credit history. There may be errors in it that need to be corrected before accessing again.
• Close some or all of your existing loans. Refusals may be associated with large debt loads.
• Check the information provided in the application form. Sometimes a simple error in the employer's data, for example, in the telephone number or TIN, becomes the reason for the refusal.
• Increase your down payment.

There is no point in submitting a new application immediately after receiving a refusal. The bank’s negative decision is valid for 3–6 months. Only after this period has expired should you apply again.

When will they refuse?

In what cases will the bank refuse:

• if the client has a small income;
• if you are not ready to insure life and health;
• in the presence of debt obligations;
• if your credit history is damaged;
• if the client is unstable: he often changes jobs, the salary is different every month, etc.

Attention! To reduce the risk of rejection, you can provide additional collateral or make a large down payment.

Reviews about obtaining a mortgage for one person

Ivanova Elena:

Malinina Anna:

“I chose Alfa-Bank’s mortgage because I already had a positive experience of working with it. I was advised in great detail on the terms and conditions and my application was immediately accepted. Approved quickly. At the stage of approving the apartment, the questionnaire was checked carefully, but I think that this is even good. I was also pleased with the interest rate. Thanks to Alfa-Bank, I became the owner of my own apartment now, instead of saving for 10-15 years.”

Smyshlyaev Mikhail:

Gredyushko Maxim:

“At the beginning of summer, I looked for a suitable apartment from a developer and decided to buy it with a mortgage from Sberbank. They helped me submit my application directly at the developer’s office. The loan was approved in literally 3 days. The rate turned out to be lower than I expected, because the developer is a partner of Sber.”

What is a family mortgage

The mortgage lending program with state support has been in effect since 2018.
Thanks to this scheme, families with children can take out a loan to buy a home at a lower interest rate than their childless fellow citizens. And part of the profit that banks do not receive due to this rate is compensated by the state. Naturally, being parents is not enough; the program has additional conditions. Since 2021, clarifications and changes have been made to the document several times. Let's figure out what requirements are spelled out in it now. Resolution of the Government of the Russian Federation of December 30, 2017 No. 1711 “On approval of the Rules for the provision of subsidies from the federal budget to the joint-stock company "DOM.RF" in the form of contributions to the property of the joint-stock company "DOM.RF" that do not increase it authorized capital, for compensation to Russian credit organizations and the joint-stock company "DOM.RF" for lost income on issued (purchased) housing (mortgage) loans (loans) provided to citizens of the Russian Federation with children, and the Rules for compensation to Russian credit organizations and the joint-stock company " DOM.RF" of lost income on issued (purchased) housing (mortgage) loans (loans) provided to citizens of the Russian Federation with children."

Bank requirements

So, let’s look at what requirements the bank imposes in the classic version.

To real estate

If we are talking about a new building, then the following requirements are imposed on the home:

• You can buy housing in a finished new building or housing that is still under construction from the bank’s selling company. A detailed list of sellers and their offers can be found here.
• According to the terms of the loan, the construction completion period is not limited by any promotional conditions.
• You can purchase apartments under construction.
• The minimum loan amount for new buildings or housing under construction should not be less than 300 thousand rubles.
• As for the maximum loan amount, it should be no more than 85% of the contractual value of the residential premises being loaned and no more than 85% of the estimated value of other real estate being pledged as collateral.
• As for the geography of lending, the entire Russian Federation is participating.

The credited group includes seller companies from which housing is purchased from the list of accredited new buildings, information about which is posted here.

When purchasing finished property, the following requirements are imposed on housing:

• You should purchase not a share of housing, but a room if you take out a mortgage for a room in the whole apartment.
• An apartment on the secondary market must be properly heated, supplied with electricity and sewerage.
• If an apartment is purchased on the top floors, then the roof must be in normal, safe condition.

Additionally, there are specific housing requirements depending on the type of program. For example, if we are talking about a mortgage with state support for families with children, then only a new building or housing under construction can be taken out on credit, and the secondary market is not taken into account.

To the borrower

Certain lending conditions are provided to the borrower. As a rule, the classic version of the requirements is used, but the conditions may vary depending on the type of loan program. So, for example, in the classic version, the minimum age of the client should be 21 years, and the maximum – 75 years at the time of loan repayment

.

In this case, the borrower must have a certain amount of work experience. Thus, a person must have worked at his last place of work for at least half a year, and his total work experience over the last 5 years must be at least 1 year

.

Separate rules are also taken into account for the co-borrower. If we talk about co-borrowers, there should be no more than three individuals, and their income is also taken into account when calculating the maximum loan size.

The Title Co-borrower's spouse shall or shall be a co-borrower in any case, regardless of his or her age or ability to pay. As for the remaining requirements, they are similar to the requirements for the borrower.

A spouse is not included as a co-borrower only if they do not have Russian citizenship or if they have a valid marriage contract.

As for all other borrowers and co-borrowers, they must have Russian Citizenship.

Tips for Borrowers

These recommendations will help increase the likelihood of getting a mortgage approved without a co-borrower:

• Before applying to a credit institution for a mortgage lending service, it is recommended to deposit funds intended for a down payment into the account in advance. This will have a positive impact on the bank’s final decision when considering the application, as the degree of confidence in the applicant will increase. In this case, funds can be gradually accumulated in a bank account, and upon reaching the required amount, submit an application to the bank for registration and issuance of a mortgage.
• At the stage of preparation for applying to a credit institution for a mortgage, it is recommended to repay all existing loans, as well as debts on taxes and utility bills. You should know that at the stage of consideration of accepted applications, banking organizations make a request not only to the BKI, but also to the bailiff service. If there is legal proceedings for unpaid alimony, fines, fees and taxes, the bank will refuse mortgage lending services.
• You should know that married persons cannot act as one borrower. In this case, the participation of the spouse as a co-borrower, as well as the consent of the other half to obtain a mortgage, is mandatory.
• Involving a guarantor in the transaction will help increase the chance of approval when one borrower approaches the bank. With this scheme, the guarantor’s income is not taken into account when considering the application. However, the participation of a third party in the transaction increases the loyalty of the credit institution.
• It is necessary to consider available preferential bank mortgage programs. For example, you can use special programs for public sector workers or military mortgages.

In case of refusal, it makes sense to contact another credit institution that practices a more loyal approach to potential clients. You can also attract a co-borrower or a reliable guarantor. Borrowers are advised to consider an installment plan from the development company or select a more budget-friendly residential property.

Sberbank mortgage terms

Different loan programs have different lending conditions. Most mortgage programs are issued in rubles, and the loan amount should not exceed 85% of the appraised value

of the residential premises being financed, specified in the expert report, as well as 85% of the contractual value of the residential premises being financed. At the same time, the loan term varies between 20-30 years, depending on the type of loan package.

According to the bank's terms and conditions, there is no commission for issuing a loan, and the loaned premises are pledged as collateral.

Separate conditions are always imposed on insurance. Thus, property purchased as collateral must be insured against the risks of destruction or loss. The exception is a land plot.

More information about mortgages at Sberbank

Currently, Sberbank offers several options for mortgage loans:

• a new mortgage program launched in 2021 - mortgages with state support for families with children;
• acquisition of housing under construction;
• purchase of finished housing;
• mortgage + maternity capital;
• mortgage refinancing;
• construction of a residential building;
• real estate outside the city;
• military mortgage;
• non-target mortgage loan secured by real estate.

Of course, the conditions for these programs are somewhat different, but, as a rule, approximately the same requirements are imposed on borrowers.