A housing loan is a heavy burden or a great opportunity

The debate over whether to borrow from the bank in order to buy a house or an apartment has been going on for a long time and probably will not end there.

Opponents of the mortgage argue that this type of lending in Russia is inherently slavery, in which borrowers fall. The reason for this is excessively high interest rates and, as a consequence, the size of the monthly payment, tending to the total income of the entire family of the payer. Indeed, in Europe and the US they are several times lower.

Well, those who are thinking of taking a housing loan are well aware of all the risks and difficulties they will face, but consider it the only way to solve the housing problem. Indeed, one can afford to purchase real estate at own expense, for the rest of the population the question is different: spend all your life huddling or pay "uncle" for rented housing in the hope that the situation somehow will resolve itself, or borrow money from Bank and live in your home. If we consider the situation from this point of view, the idea of obtaining a housing loan does not look so terrible anymore. Trite, but true: everything is known in comparison.

One of the first who started to practice this kind of loans was Sberbank. Housing loans can be obtained there under fairly good conditions. In addition to standard programs, there are special, for example - refinancing loans received earlier. The latter is in demand among those who received a mortgage housing loan a few years ago at a rate exceeding the mark of 20% per annum. Today, such figures seem incredible, but in the conditions of that time, other options were not suggested.

On what conditions can I get a housing loan

Sberbank, like other financial institutions, lends money as a pledge of existing real estate, as well as the one that is being purchased. Also, in the form of collateral, another property owned by the borrower can be considered.

Minimum interest rates traditionally operate in foreign currency. In rubles, the most attractive conditions are offered to young families planning to take a housing loan. So, in rubles it is necessary to pay from 10% a year, and the maximum term on which it is possible to borrow means, makes 30 years. This offer is valid for families in which the age of at least one of the spouses does not exceed 35 years. As for the down payment, its minimum size is only 10% of the value of the property being purchased.

If we talk about borrowers, whose age has crossed the thirty-five-year threshold, the interest rate in rubles starts at 12%, depending on the type of loan, namely, on what property it is issued to. The size of the first installment varies from 10 to 15%. At the same time, as a rule, it is less for apartments, but for private houses under construction more.

Traditionally, loans for real estate projects under construction to borrowers are more expensive than for housing. But at the moment there are special conditions in Sberbank, on which it is possible to get a loan for the purchase of an object that has not yet been handed over on practically the same conditions as for an object accepted by the state commission.

To receive or not receive a loan, the case is certainly individual. However, because of the steady growth in house prices, you can save your whole life for the purchase of a house or apartment and never achieve your goal.