Up to what age can you get a mortgage and at what age can you take it out: age restrictions in 23 banks

One of the main criteria for obtaining a mortgage loan is age restrictions. They vary differently from bank to bank. Let's look at how many years and up to what age Russian banks give a mortgage for an apartment, what requirements, in addition to age, are imposed on the borrower, and how to increase the chances of getting a mortgage approved if they are denied because of age.

Bank age requirements for mortgages

Age restrictions for borrowers are quite logical and are confirmed by certain facts. Thus, the onset of material and financial responsibility by law begins at the age of 18, which is why adulthood is considered the minimum age for issuing a loan. However, despite the law, not all banks provide mortgages to citizens over 18 years of age. This is based on the fact that young people do not yet have a regular income and work, so they are unlikely to be able to pay off their mortgage on time.

Banks also always pay attention to the likelihood of being called up for service in the Armed Forces of the Russian Federation. The marital status of the young man and his income are studied. All this together is considered as possible risks of not repaying the mortgage loan.

As for the maximum age, everything here is also logical and understandable. All other things being equal, the age for making the last loan payment must coincide with the borrower’s retirement date. Banks believe that after retirement, the financial situation may deteriorate sharply, and the borrower will not be able to fully repay the debt.

Thus, the inclusion of age restrictions in the terms of mortgage lending is quite logical, since the degree of solvency and responsibility of the client greatly depends on age.

Additional guarantees from borrowers

Your mortgage interest rate will depend on many factors. To get the most favorable lending conditions, you can prepare additional guarantees for the bank of your integrity and solvency.

The following circumstances will serve as additional guarantees for the bank:

Availability of liquid assets from the borrower. The more apartments or cars a borrower has, the higher his chances of successfully obtaining a mortgage.
Availability of guarantors. Guarantors will bear real responsibility for the loan, which must be specified in the loan agreement.
Availability of accounts with a constant balance in a lending bank. If you are a regular client of this bank, have open accounts with it, and receive wages through it, your chances of getting a loan are much higher than those of other potential clients.
Conclusion of a life insurance contract. In this case, the insurance company acts as a guarantor of the return of funds in the event of the borrower’s death or disability.

All these circumstances will be taken into account by the bank in aggregate. Based on them, not only the issue of approval or refusal of the loan application will be decided, but also the key terms of the mortgage agreement.

Ideal borrower age for a bank

It is obvious that young clients rarely have good income and in most cases cannot service the loan in a timely manner. This is why they are most often denied a mortgage. The same is true for people of the older generation. There is always a risk for them to lose their regular income due to retirement, illness or any other reason. Banks are afraid to take risks and lose their money. That is why they form their own opinion about the ideal age of the borrower.

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.

According to statistics, the most punctual and responsible borrowers are middle-aged women (30-45 years old), with a family, higher education and a positive credit history. Even a high income is not such an important factor, unlike a good credit history and permanent residence of the client in the region of the lending bank. Product Manager of Home Credit Bank Anna Gapeenko confirms this fact and says that women approach the issue of mortgage insurance more responsibly, unlike men.

Men are more responsible between the ages of 35 and 40. Less reliable borrowers are men aged 20-29 who do not have a family. They often spend their money irrationally, so they are late in repaying the loan, and sometimes they don’t pay at all.

A person who does not have a job or is employed informally has much less chance than a person with a permanent job and a fixed income.

It turns out that the most ideal borrower for banks is a middle-aged person with a permanent job, an average income, a higher education and a family. Such people clearly understand that in case of delays and delays, next time the bank will simply refuse to issue a loan when it is really needed.

Minimum and maximum ages for a mortgage

Each bank has different age requirements. In addition to the standard mortgage agreement, banks offer loyalty programs, thanks to which you can get a mortgage on more favorable terms. Each of these programs carries certain conditions. Let's look at the popular mortgage programs of banks and their differences in age restrictions.

For housing

In accordance with the laws of the Russian Federation, material and financial responsibility arises after 18 years of age. That is why the answer to the question about the minimum age for a home mortgage is clear - you can take it from 18 years old.

Getting a mortgage at 18 without co-borrowers is almost impossible. The optimal age for approval for a home mortgage is 21 years old. The basis for this is the need to obtain a minimum work experience of 1 year. It is not possible to earn such experience at 18 years old, so almost all banks today set a minimum age requirement of 21 years.

The maximum age at the time of mortgage repayment is 75 years. However, only a few banks can take out a mortgage on such terms, and in most cases the age restrictions are set between 21 and 65 years. This is how banks minimize their risks.

For a commercial mortgage

A commercial or business mortgage is a profitable tool for supporting small and medium-sized businesses. Entrepreneurs, purchasing real estate with a mortgage, place service offices and warehouses on its area.

Important:

The basic conditions and principles of organizing a commercial mortgage are enshrined in Federal Law No. 102-FZ “On Mortgage (Pledge of Real Estate)” dated July 16, 1998, as well as in several articles of the Civil Code of the Russian Federation.

This type of lending is most focused on legal entities, however, many banks also provide mortgage loans to ordinary individuals and individual entrepreneurs. Due to the fact that obtaining a commercial mortgage is aimed at profit, banks put forward strict requirements not only for collecting the necessary information and documents, but also for age.

Thus, the borrower must be a resident of the Russian Federation between the ages of 21 and 65, and have a positive credit history. In this case, the involvement of a guarantor is mandatory. The amount of issued loans should not exceed 1 million rubles. Compliance with these conditions must be documented.

What is the essence of a mortgage with state support?

In April 2021, the Government of the Russian Federation published a decree on the preferential mortgage program . The program is designed to stimulate the purchase of real estate on the “primary” housing market - in projects under construction or new buildings commissioned. Thus, the state supports construction companies, increases the demand for housing and makes its purchase more affordable.

During the six months of the program in 2021, 230 thousand mortgage loans were issued for a total amount of 669 billion rubles.

So that banks can issue mortgages at a reduced rate, the state compensates them for the interest lost from borrowers. This subsidy is distributed among credit institutions by the operator of preferential mortgages - the company DOM.RF. Initially, the program was designed until November 1, 2021, but by order of the President it was extended until July 1, 2021 (Resolution of the Government of the Russian Federation dated October 24, 2020 No. 1732).

Why are banks increasing the age limit for mortgages?

In recent years, Russian banks have been raising the upper age limit for borrowers. If earlier this age was 55-60 years, now at the time of repayment of the loan the client may be 75 years old.

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.

After raising the age limit for housing loans, the down payment condition became mandatory. It serves as proof that the borrower is wealthy and reliable from the point of view of banks. People of older generations, as a rule, have their own savings, which they can invest as a down payment. From this, the banks themselves receive much greater profits than before, and older people have the opportunity to buy the desired property.

As Rossiyskaya Gazeta writes, raising the maximum age limit for issuing a mortgage is increasingly associated with raising the retirement age. For men this age was 65 years, for women - 60.

Ways to increase your chances of getting a mortgage if the bank refuses due to age

Very often, the reason for refusal of a mortgage is the age of the borrower. There are several surefire ways to increase your chances of receiving a targeted loan.

Let's look at them:

Contact another bank. If one bank refuses, this does not mean that they won’t give it to another. It is best to find out in advance about the requirements of each bank so as not to waste your time once again on a bank that will refuse.
Find a good co-borrower. Young and elderly people are often denied a loan, but after they bring their relatives as co-borrowers, the bank changes its mind and provides a mortgage.
Take out a mortgage for a smaller amount or choose another home that costs less . Choose real estate with an adequate price. Paying a loan for a 1 or 2-room apartment is much easier than for multi-room mansions.
Registration of a mortgage for another person. Contact your relatives with a request to apply for a loan for them. This will help speed up the home buying process.
Contact a mortgage broker. Mortgage brokers are intermediaries between the borrower and the bank, providing consulting services and legal support in matters of mortgage lending.

Who can't take out a mortgage to buy an apartment?

Mortgage refusals come to a variety of categories of borrowers. Some do not have enough income, others are too young, others work in a profession that is considered risky.

The following characteristics almost always mean failure:

Lack of citizenship. Domestic banks provide mortgage loans to applicants with Russian passports. At least temporary registration is required.
Debt load. Even credit cards with existing debt are affected. The lender accepts any payment to another financial organization as an additional burden, which greatly increases the chances of refusal.
Debts. The BKI reflects the timeliness of payments. Information about unfulfilled financial obligations cannot be hidden. If you have had loan debts in the past, your chances of getting a loan are low.
Criminal record. The legislation of the Russian Federation does not indicate anywhere that mortgages are prohibited from being issued to citizens with an outstanding or active criminal record. However, lenders consider such clients to be “undesirable.”
Problems with bailiffs. For banks, this means that potential clients do not pay their loans. A person convicted of fraud or whose debt was handled by collectors will not be given a mortgage.
Lack of official work, low earnings. A citizen becomes an undesirable borrower if the payment on a potential mortgage exceeds 40% of his monthly income.
Untidy appearance. A mortgage for an apartment is not given to citizens in an inadequate or intoxicated state. This rule works for potential clients whose appearance indicates low social responsibility. Look neat and tidy when you go to the bank and your chances of getting a mortgage will increase.
Students and pensioners. Citizens under 21 and over 65 are considered financially unstable. The first lack work experience, the second lack income and health.
No military ID. Men under 27 years of age must explain why they cannot provide this document.
Bad credit history. The big disadvantage is late payments and a large number of existing debts.
Unstable income. Certain professions fall under this rule: freelancers, waiters, taxi drivers, sales managers. Artists, musicians, writers, and anyone who receives a fee for their work are also of little interest to banks.
Dangerous profession. Firefighters, bodyguards, rescuers. Banks are wary of cooperating with such borrowers and classify them as a high risk area. To protect themselves, financial institutions insist on life and health insurance.

Borrower age requirements in 5 large banks

As already mentioned, the conditions for providing a mortgage loan differ from bank to bank. For clarity, let’s look at 5 large banks of the Russian Federation and their requirements for borrowers.

Sberbank

The requirements of the leader of the Russian financial sector can be called standard. The minimum age to obtain a mortgage is 21 years. The maximum age at the time of loan closure should not exceed 75 years. That is, at 60 years old you will not be able to take out a loan for 20 years. In addition to age restrictions, Sberbank requires the borrower to have official employment with a total work experience of 1 year, a confirmed stable income and a clear credit history.

VTB

You can get a mortgage from VTB Bank at the age of 21, and you must repay the debt until you are 65 years old. The maximum loan period is 30 years.

Gazprombank

Gazprombank's requirements for borrowers are slightly different. The minimum age for taking out a mortgage is 20, and the maximum at the date of payment is 65 years.

Rosselkhozbank

The minimum age for issuing a mortgage at Rosselkhozbank is 21 years. The maximum varies depending on conditions. So, for example, the age limit will be 65 years at the time of paying off the mortgage without a co-borrower, and 75 years - if there is a co-borrower specified in the agreement.

Alfa Bank

At Alfa Bank, the age limits are 23 years minimum and 64 years maximum on the date of the last payment.

What kind of housing can you buy with a preferential mortgage?

The preferential lending program applies to the entire territory of Russia, but you will not be able to buy any property you like.

Borrowers can choose housing only in a house that has been commissioned or is under construction - a regular apartment building or a block of flats.
Blocked buildings are blocks of the same type of residential buildings that have a common wall. Maximum height - 3 floors. Each block is located on a separate plot of land, has a separate entrance and is intended for single-family residence.
It will not be possible to take out a mortgage with state support for a secondary building, a private house or non-residential premises. Some banks refuse to lend for the purchase of housing, even in townhouses.
You can only buy an apartment from a legal entity. The investment fund and management company cannot act as sellers. It is better to check information about the property and its owner in advance. This can be done through a special service - EGRN.Reestr . You will receive complete and reliable information from the current Rosreestr database.
The cost of the purchased home can be any, but the maximum loan size is limited. For St. Petersburg, Moscow and their regions it is 12 million rubles, for other regions - 6 million rubles.
That is, you can choose an apartment in Moscow for at least 20 million rubles, but under the preferential mortgage program the bank will give no more than 12 million.

Comparative table of 23 banks

Age restrictions and other conditions of the most popular Russian banks are included in a special table. Interest rates are relevant for secondary real estate, but age restrictions are the same for all mortgage programs of banks. You can calculate your mortgage using a convenient mortgage calculator, which will show the amount of the monthly mortgage payment as well as the amount of the total overpayment.

Bank	Bid, %	PV, %	Duration, years	Experience, months	Age, years	Information
Sberbank	from 8.8	15	up to 30	from 6	21-75	The rate is valid when registering electronically, as part of the “Young Family” campaign and when approving an apartment through DomKlick, subject to life insurance.
VTB Bank	from 8.90	10	up to 30	from 12	21-65	Mortgage without proof of income from 10.60% with a down payment of 30%. When purchasing an apartment over 65 sq. m. rate from 10.10%
Gazprombank	from 8.70	10	up to 30	from 6	20-65	Continuous work experience of 1 year, discount for salary earners -0.5%, and -0.2% when purchasing bank partner developers from AN.
Rosselkhozbank	from 9.75	15	up to 30	from 6	21-65	Deferment and PV from 10% for young families and when using maternity capital.
Alfa Bank	from 9.19	15	up to 25	from 6	23-64	Special conditions for young families, reduction of PV to 10% in the presence of maternity capital.
Bank "FC Otkritie"	from 8.75	10	up to 30	from 3	18-65	Continuous work experience of 1 year. When registering on the website, the rate is 0.25% lower. Salaries receive 10% PV. The rate is 9.35% with a PV of 50%, with a 2NDFL certificate and subject to apartment, life and health insurance.
Raiffeisenbank	from 8.99	15	up to 30	from 3	21-60	Experience of at least 3 months with a total experience of 2 years. No bad credit history.
Rosbank	from 6.99	15	up to 25	—	20-64	Additional loan for personal care, state support, deferment for young families, maternity capital. Nationality doesn't matter.
Promsvyazbank	from 8.80	20	up to 25	from 4	21-65	Total work experience of at least 1 year.
Credit Bank of Moscow	from 9.50	40	up to 20	from 6	18-65
BinBank	from 8.75	from 5*	up to 30	from 1	21-65	*PV 5% when using maternal capital. At least 1 year of experience in one field of activity. From January 1, 2021, BinBank and Otkritie Bank merged under the Otkritie brand.
Uralsib	from 9.29	10	up to 30	from 3	18-70
DeltaCredit Bank (Rosbank Dom)	from 8.49	15	up to 25	from 2	20-64	Additional credit for PV. Parents can get a mortgage for an apartment for their children.
Svyaz-bank	from 9.30	15	up to 30	from 4	21-65	Discount for salary earners -0.50%, and VEB employees -0.75%. Increase in rate in the absence of insurance.
Absolut Bank	from 9.24	20	up to 30	from 6	21-65	Continuous experience of 1 year.
Renaissance	from 8.35	15	up to 30	from 6	18-65
UniCredit Bank	from 9.40	15	up to 30	from 6	21-65	The rate under the “Mortgage Calling” program is 9.75%
TranscapitalBank	from 6.99	from 5*	up to 25	from 3	21-75	*PV 5% when contributing maternity capital. Total work experience of 12 months.
ZapSibComBank	from 10.20	10	up to 30	from 6	21-65	It is possible to make mat capital as a down payment and obtain a mortgage using 2 documents.
AK Bars	from 8.80	10	up to 25	from 3	18-70	-1% when signing a personal or group insurance contract.
Zenith	from 8.90	from 5*	up to 30	from 4	21-65	*Reducing PV to 5% at the expense of maternal capital.
AHML (DOM.RF)	from 8.80	10	up to 30	from 6	21-65	Easy mortgage with 2 documents at 11% with PV from 35%. Possibility to choose a variable rate. The rate is 9.95 with a PV of 30%.
Tinkoff	from 9.25%	10	up to 30	from 3	21-75	The specificity of the bank is the transfer of documents to partner banks; the bank itself does not provide mortgages, but is only an intermediary.