At what age can you take out a mortgage at Sberbank, VTB and other banks?

Despite the “youth” of the mortgage lending system in Russia and the fairly high interest rates in it, mortgages have become widespread in modern Russia. A major role in its spread was played by the period of high incomes of the country's population in 2008-2011 and state assistance to certain categories of citizens (young families, military, doctors).

Age restrictions on obtaining loans for the purchase of housing have been in effect since the beginning of residential mortgage lending. Banks could provide mortgage loans from the age of 18, and up to what age they would give a mortgage - the banks decided for themselves.

Reasons for age restrictions on mortgages

There are several reasons why the bank lends only to more mature young people:

• At the beginning of their careers, specialists’ earnings are low, which means they cannot afford a mortgage, the payments for which are usually a very decent amount. Typically, only people with an income of at least average can take out such loans;
• Work experience is used as one of the criteria for selecting borrowers. To receive a loan, you must have at least 6 months of employment experience with your current employer, with a total work experience of at least 1 year over the last 5 years. It becomes easier to fulfill these requirements over time, but at 18 years old this is problematic;
• Young people, due to life circumstances, experience breaks in their work activities when there is no income or it is minimal, for example, during conscription in the army or during maternity leave.

In practice, most mortgage borrowers first approached the bank at the age of about 30, since it was then that they reached the financial solvency and professional maturity that the bank needs to reduce its risks on the loan. Therefore, such an age limit as 21 years is considered quite acceptable.

Loan terms

A mortgage loan is always long-term. For some types there is even a minimum period of 3 years. The maximum is usually 30 years. But sometimes there are proposals to extend payments to 50 years.

Most borrowers take out a loan for 5-15 years. Otherwise, the interest will be a very unaffordable amount.

In order to repay such a debt, you need to have a stable and solid income. This is only possible for those borrowers who have a regular income.

Any pensions, benefits and other budget payments are not considered by banks as sources of income.

Therefore, the borrower must meet the following conditions:

• must be a Russian citizen;
• be of working age (in Russia this is 16-55/60 years);
• receive a permanent, stable income sufficient to repay the debt.

Is it possible to get a mortgage at 18 years old?

From the point of view of the law, turning 18 means the onset of full legal capacity. That is, from this moment on, a citizen can fully exercise his rights and bear responsibility, including entering into civil legal relations. Therefore, upon reaching the age of 18, you can apply for loans and purchase real estate yourself.

However, lenders have the right to minimize their risks by establishing certain criteria for selecting clients. This applies, for example, to requirements regarding employment history, nationality, registration and age. Most lenders prefer to lend to young people over 21 years of age. But there are also those who are ready to work with younger clients.

Transactions with 18-year-old clients, despite the fact that a mortgage always means the presence of an additional guarantee of full fulfillment of obligations in the form of collateral of liquid real estate, are considered high-risk.

Therefore, usually even those lenders that are initially ready to work with young people require additional confirmation of the client’s reliability.

How to apply?

In order to get a mortgage loan, you will have to make a personal visit to the bank with a completed application form.

It states:

• borrower's passport details;
• approximate parameters of the property to be purchased.

The bank has a month to review the application and make a decision on it.

Here you can download a sample application for a mortgage loan.

For young borrowers, there is a chance to increase the likelihood of a positive response.

To do this, you will need to provide co-borrowers or guarantors, who may be :

• spouses;
• parents;
• brothers and sisters.

The main thing is that they meet the bank's requirements. In this case, total income will be considered.

If necessary, you can take out a mortgage for a room from Sberbank. How to get a mortgage without proof of income? Read here.

What is government subsidized mortgage? Detailed information in this article.

What documents should I provide?

For your first visit to the bank you will need:

1. Application form.
2. Passport.
3. A copy of the work book.
4. Help 2-NDFL.

For those receiving a salary on a bank card, information about income and employment does not need to be provided. Unless there is another source of income not included in this bank.

Here you can download a sample income certificate 2-NDFL, a sample of a standard mortgage lending agreement.

How to increase your chances of getting a mortgage

To increase the likelihood of mortgage approval, it is worth providing the bank with additional evidence of your reliability.

First, you need a good credit history. Even a microloan will provide it. It is enough to take a small amount for a minimum period. Once you have taken out a loan, it is important to pay it off on time. Early repayment after one or two payments is not encouraged in this case. The calculation according to the schedule will show that the client fulfills his obligations in good faith and will be able to fully provide the bank with the planned profit.

MFOs will help you form a good credit history almost free of charge: for those who apply for a loan for the first time, some microfinance lenders give money without interest.

Secondly, it helps to attract additional participants to the transaction. Young people most often use representatives of the older generation of the family for this purpose: parents, grandparents. Siblings and friends are also allowed to participate. When choosing a candidate for co-borrowers, you need to take into account the maximum age limit at the time of full payment under the agreement. Usually this is 65-75 years old. Taking into account this limit, the loan term will be limited, which will entail an increase in the payment amount. At the same time, attracting co-borrowers with official income increases overall solvency, which will make it possible to obtain a larger loan.

If the applicant is married, his spouse will most likely be required to be brought in as a co-borrower. The presence or absence of income is not taken into account. An exception is the presence of a marriage contract concluded by the spouses, according to the terms of which a regime of separate ownership is established, including for real estate. Some banks will refuse to involve those who are citizens of another state in the transaction. However, this fact may also serve as a reason for refusal of lending.

Lenders trust those who own property more: vehicles or real estate. If you have any property, it is worth reflecting this fact in the application form.

Another point is the requirement for men under the age of 27 to present a military ID. Failure to do so will result in the application being rejected. This document can only be obtained upon contacting the military registration and enlistment office regarding the fulfillment of civil duty for compulsory military service. As a result, a young man, if he is fit for military service, will most likely be drafted into the ranks of the Armed Forces, and if not, he will receive a military ID with the appropriate mark.

Maximum borrower age

In cases where older relatives help young people buy a home, it is necessary not only to decide at what age a mortgage is given, but also to determine at what age it will need to be repaid. This is necessary to calculate how long the bank will issue the loan, because the amount of the payment depends on this.

Sberbank has set a limit on the maximum age that the borrower (co-borrower) will reach by the time the debt is repaid.

The bank requires that the debt be repaid in full during working age or retirement age. The age of the oldest participant in the transaction is considered as a guide.

If the loan is issued to those clients who cannot officially confirm the fact of employment, as well as the amount of their income, then by the time the loan is repaid they should not have reached the age of 65 years.

What is the best age to get a mortgage?

It depends on the individual bank, but in general the best mortgage borrower is considered to be a man aged 27-45 or a woman aged 25-40. The five-year difference in the upper age limit is due to the fact that in Russia women retire 5 years earlier than men.

Men over 27 years of age have completely resolved all issues with the military registration and enlistment office, and the age of 45 years (for men) and 40 years (for women) leaves a sufficient amount of working time during which borrowers maintain their solvency.

Summary of offers to banks

Age limit of large banks

At what age do you get a mortgage at Sberbank?

At what age can you take out a mortgage? By law, from 18 years of age.

Sberbank prefers to work with minimal risk, so it will provide money for the purchase of an apartment only to those who are over 21 years old.

This restriction applies to all products offered by the bank, including those that require government support. These are “Mortgage with state support for families with children”, and “Mortgage plus maternity capital”, and “Military mortgage”.

At what age do you get a mortgage at VTB24?

Mortgages with state support from VTB Bank (formerly VTB24) to potential borrowers are democratic. This lender has not set an age limit for its mortgage programs.

Accordingly, at the age of 18 you can apply to the bank to apply for a mortgage to purchase a home. The exception is “Military Mortgage”. This program is available to citizens participating in the NIS who are over 21 years of age.

However, VTB requires official confirmation of income for the last 12 months. At the same time, some products allow you to take out loans regardless of whether you have Russian citizenship or registration in the country. For example, this is the “New Building” or “Resale Housing” program. But in this case, employment in Russia is mandatory.

At what age do you get a mortgage at Alfa Bank?

What age is required for a mortgage at Alfa Bank - at least 21 years old. By this age, the borrower must also confirm that he has at least 1 year of work experience, of which at least 4 months must have been with the last employer. But the bank is not against working with foreigners.

The specified age limit is relevant for all bank programs, including refinancing and lending secured by existing housing.

Mortgage loan under special programs

1. VTB's express lending program for pensioners involves providing a loan for non-working pensioners for a year and a half, for working pensioners - up to 5 years. The deposit amount can be up to 25 thousand rubles, and annual interest - 22%. This bank does not have special programs for issuing mortgages to pensioners.
2. The “Mortgage for Pensioners” program is run by financial companies Ak Bars and Sberbank. To minimize risks, the program requires the presence of a guarantor. Under such conditions, pensioners are given a loan on the same terms as people in middle and young age.
3. The Young Family program is provided to those family units in which one party is 35 years old. The program is beneficial due to its minimum interest rate, which does not change throughout the entire payment period. The lowest interest rates are provided to large families with at least 3 children. The minimum interest rate at Sberbank is 10.25% for finished housing.
4. "Military mortgage" . A specially developed program to support the military involves a monthly allocation of funds from the city budget, which can only be spent on repaying the monthly loan fee. The only rule is that the borrower must serve as a military personnel for the entire period before the mortgage term expires. A military man must repay his mortgage loan in full by the age of 45 (inclusive), since this is the retirement age for military personnel.

Which banks offer mortgages from 20 years of age?

"Sovcombank"

Sovcombank is ready to cooperate with citizens over 20 years of age. The bank considers applications from both hired personnel, individual entrepreneurs, and business owners.

For young people, Sovcombank's offer is interesting due to its low interest rate - from 7.9%, as well as the moderate amount of the down payment - from 10%.

Using subsidies as your own funds is unacceptable.

The length of service requirements are also liberal - the total experience is from 1 year, and from the last employer from 3 months. Additionally, you can attract up to 4 co-borrowers.

"DeltaCredit"

DeltaCredit Bank works with citizens over the age of 20.

They offer many different loan programs, including:

• "Refinancing";
• “Mortgage for young people”, aimed at young families planning children. The essence of the proposal is to provide the opportunity to pay only interest during periods when small children appear in the family. This approach is fraught with a significant increase in the total amount of overpayment;
• "Maternal capital";
• “Mortgage for citizens with children”, operating in accordance with the resolution Mortgage plus maternity capital, when, under certain conditions, the loan rate is set at 6%.

The rate on mortgage products without government support is from 8.75%, but the bank requires its own funds to be at least 20%. Citizenship does not matter.

What should a pensioner do?

In the Russian Federation, the number of banks that offer mortgage services to pensioners is small. The best option is Sberbank - it provides low interest rates and issues mortgages even to non-working pensioners.

It will be useful to view:

Moreover, Sberbank programs offer pensioners favorable conditions with the involvement of a co-borrower or guarantor individual. At the same time, it is important to take into account the mandatory down payment of 10% of the total loan amount.

If you are a working pensioner who wants to take out a mortgage, read this article.

In this situation, it is much easier for working pensioners or people of pre-retirement age, since the likelihood of the bank approving mortgage services increases due to additional income in the form of wages. The main criterion for issuing a larger loan is solvency. Some banks accept applications based on non-pension and salary income.

Which banks provide mortgages from 18 years of age?

"Renaissance"

Bank Vozrozhdenie is ready to help citizens over 18 years of age purchase housing. Up to 3 co-borrowers are allowed to participate in the transaction, including the title borrower. The minimum possible length of service for employees is 6 months, for businessmen, including individual entrepreneurs, 2 years.

Other requirements for clients include having at least 3 months of work experience at their last place of work and at least 12 months of cumulative work experience. Despite the loyal attitude to the age of clients, the bank works only with citizens of the country who have permanent registration.

Basic loan terms:

• rate – from 9.6%;
• down payment – ​​from 20%;
• period – 3-25 years.

A significant drawback of the proposal is an increase in the rate under the contract by 4% when refusing personal insurance.

"Uralsib"

18-year-old clients are welcome at Uralsib Bank. Mortgages are offered at a rate of 10.3%. You can get 300,000 - 50,000,000 rubles for a period of 3-30 years.

The borrower is also subject to the following requirements:

• citizenship – Russian Federation;
• registration - on the territory of the Russian Federation;
• work experience – at least 3 months.

Special instructions regarding the employer - the company must have been operating for at least 1 year.

Requirements of banks for borrowers

Most banks adhere to these reasons when considering applications from potential borrowers. Large participants in the credit market are usually more conservative.

Unless, of course, we are talking about special youth programs.

But newcomers to this field can offer more attractive conditions to expand their clientele.

Sberbank

Sberbank's requirements for borrowers are standard:

• Russian citizenship;
• age from 21 years;
• at least one year of experience at the last place of work;
• income certificate.

There is a program designed for young families. But even there the minimum age is 21 years. But the interest rate has been reduced and the size of the down payment has been reduced.

VTB 24

VTB 24 Bank is also ready to lend only to citizens over 21 years of age.

There are also special requirements for length of service: at least one year in total, and more than 1 month must have passed since the end of the probationary period in the new place.

The bank is ready to consider applications from foreign citizens.

Alfa Bank

Alfa Bank imposes the same requirements on borrowers. A mortgage loan will be received by a citizen over 21 years of age who has a permanent job and a confirmed income.

Customers receiving payments on bank cards can receive an advantageous offer on special terms.

Minimum age for mortgage

For an apartment

Citizens have the right to purchase an apartment using mortgage lending from the age of 18. The service at this age can be obtained from such banks as:

• "Renaissance";
• "MTS Bank";
• "Uralsib".

For a commercial mortgage

A commercial mortgage involves the purchase of non-residential real estate for the purpose of running a business. Banks offer such programs to both legal entities and individual entrepreneurs.

Lenders in such cases, including Sberbank, do not limit the minimum age of individual entrepreneurs.

But banks set requirements for the period of functioning as an individual entrepreneur: at least 6 months, more often – 1 year. You can become an individual entrepreneur at the age of 14 (with the consent of legal representatives - parents, adoptive parents or guardians). But banks, most likely, will not work with a businessman who has not reached the age of majority, that is, the age of 18.

Another option for purchasing commercial real estate for individual entrepreneurs is a non-target mortgage. However, to obtain it, they usually require the pledge of a certain piece of real estate. Such programs are designed for citizens over 21 years of age.

At what age do they give a mortgage to a young family?

A young family has the right to apply for a mortgage upon reaching the age of 20-21 years. This category of borrowers, including those recognized as having many children, has the right to apply for help within the framework of Government Resolution No. 1711 of December 30, 2017. Then there is a chance to get a mortgage at 6% per annum. Couples where the spouses have reached the age of 20 receive loans under the state program to support families with children, for example, from DeltaCredit Bank.

Banks also implement their own mortgage lending programs for young families. The standard limit is 21-35 years old. Some lenders allow at least one spouse to meet the upper limit; for others, it is important that both fall within the specified age range.

However, the only benefit available under such programs is a more moderate equity requirement. Depending on the policy implemented by the lender at a given time, it varies from 10 to 20%.

No down payment

You can get a mortgage without a down payment from the age of 18. Such a product is sold, for example, by Uralsib. The loan is available only upon the provision of existing real estate as collateral. The minimum rate is 12.5%. Available amount – 300,000 – 50,000,000 rubles. Loan term – 3-25 years.

Age requirements in the largest banks in Russia

We suggest you familiarize yourself with mortgage interest rates and bank age requirements.

Mortgage terms and interest

The basic conditions for mortgage lending at Sberbank for all current programs are given in the table below.

The above conditions will be relevant for clients who have a Sberbank salary card, as well as those who have entered into a comprehensive insurance agreement (property insurance + personal insurance).

The interest rate on Sberbank mortgages for all barograms is presented below:

For ordinary clients, the base rate will automatically increase by 0.3 percentage points, and if they refuse a full insurance policy - by 1 percentage point.

As available services and options that can help minimize the final cost of the loan (rate), Sberbank offers borrowers electronic transaction registration, discounts from trusted developers, and benefits for young families.

Option No. 2

All types of loans are possible if, under the new preferential mortgage program, the down payment is increased by 16,520 rubles in order to meet the limit of 3 million rubles on the maximum loan amount.

With an increase of 16,520 rubles in the amount of the down payment, the difference in monthly payments under the old and new mortgage programs is 2,592 rubles.