How to choose the most profitable mortgage loan and where it is more profitable to take a mortgage: a review of the TOP-5 banks

Today we’ll talk about a profitable mortgage loan (cheap mortgage).

From the article you will learn:

What conditions of a mortgage loan can be called beneficial;
Who has the opportunity to apply for a preferential mortgage;
What parameters should be paid attention to when choosing a profitable mortgage loan;
Where (in which bank) is it more profitable to take a mortgage;
Who will help get the most profitable mortgage.

At the end of the publication are answers to frequently asked questions about the mortgage.

The information provided will be useful to those who plan to buy a home on a mortgage and select the best conditions. If you belong to this category, do not waste time, read our article right now!

This publication is about a profitable / cheap mortgage: how to choose it, where it is more profitable to take, in which bank you can apply for a low interest

1. What conditions can be considered beneficial when applying for mortgage loans

In our country mortgage became the only option that allows you to move to your own home today, without wasting time and effort to save money in the amount of the cost of the apartment. On our site there is a separate article on how to earn an apartment on your own and become the owner of your own housing.

Throughout the world, mortgages secured by real estate have been popular as a way of acquiring housing for many years. In our country, this option of buying an apartment began to develop only 15 years ago.

However, a fairly large number of Russian citizens managed to take advantage of the mortgage. Moreover, many have even been able to successfully repay such loans.

1.1. The main features of loans secured by real estate

To understand which mortgage can be considered profitable, first of all, it is worth understanding what are the features of such loans.

The main characteristics of a mortgage are:

Target nature. That is, funds received in a mortgage can only be spent on real estate purchase. Much less often they are issued on construction.
The property remains pledged to the bank,despite the fact that upon purchase it becomes the property of the borrower. That is, until the mortgage loan is fully repaid, it will be impossible to sell or donate real estate without notifying the bank. Often, even to register relatives here, a separate permit is required.
Long term. Most often, a mortgage is issued at least for 5 years. The maximum period may exceed 30. It all depends on the age of the borrower.

There are a number of advantages of a mortgage:

high speed of receiving money and buying an apartment, especially with regard to registration through professionals, the so-called brokers;
a large number of programs on the market, the choice of which depends on the specific situation;
profitable option for investing.

Choosing between rent and mortgage, it should be understood that over time, apartments almost never fall in price. Moreover, rental payments often grow, and mortgage payments often remain unchanged.

It turns out that in the long run, renting is usually more expensive than repaying a loan for your own housing.

Naturally, in addition to the benefits mortgage loans have limitations. The main consequences are those that occur if it is impossible to pay a mortgage loan. In other words, in similar situations a credit institution has the right to pick up a pledged item.

Do not forget that getting a loan is not so simple. To do this, you must meet the specific requirements of credit organizations that are presented to borrowers for mortgages.

The basic requirements for the borrower in most credit organizations are the same:

minimum age 21 year, maximum - approximately 40-45;
high-quality credit reputation;
stable place of work;
sufficient monthly income.

Only with the simultaneous fulfillment of all necessary conditions, the applicant can count on a positive decision on the mortgage.

In a separate article, we also wrote how and where to get a loan with bad credit history without refusal and which banks are ready to give a loan in this case.

1.2. What mortgage can be considered profitable

Everyone knows that with a mortgage you have to live on credit for a long period. The result is significant overpayment. That is why those who want to buy an apartment on credit are very keen on the phrase profitable mortgage.

The amount of a mortgage loan is usually quite impressive. In combination with a solid loan term, as well as various commissions and insurance payments, this gives huge overpaymentwhich is usually a minimum 2 times exceeds the original loan amount.

The main goal when choosing a loan program in such conditions is to search for the most profitable mortgage program.

Important to understand, which is far from always the most profitable mortgage can be called the one at which the minimum rate. Very rarely, a bank agrees to a profit decline. Therefore, more often than not, losses associated with a reduction in the rate are reimbursed by the credit institution by levying various commissions.

Many consider the mortgage option to be profitable for themselves without a down payment. On the one hand, there is no need to wait and save. But do not forgetThat will have to pay this amount of money in any case.

Moreover, since it will be included in the issued loan, interest will also be charged on it. In the end, the overpayment will be much larger than with the down payment.

Professional financiers agree that profitable mortgage - a relative concept. Its parameters are determined by the personal opinion of the borrower, as well as the financial circumstances prevailing at the moment.

In fact, if you carefully study the characteristics of mortgage programs, most of the benefits cease to be so. At the same time, those conditions that seem uncomfortable, as well as the least profitable, actually turn out to be the most suitable and best in specific conditions.

Most often, those who make certain sacrifices get the greatest benefits from mortgages in order to get seemingly insignificant benefits.

2. Who has the right to get a mortgage on favorable terms?

If you still consider the mortgage in terms of benefits, it can get those who have the right to apply for a loan preferential terms.

The following categories of benefits are traditionally distinguished:

reduced mortgage rate;
no need to make a down payment;
credit holidays - upon the occurrence of certain events (for example, the birth of a child), the borrower is allowed not to repay the loan during 1-3 years.

The purpose of obtaining mortgage loans on preferential terms is the possibility of acquiring housing low-income citizens.

Who can get a mortgage on favorable terms - the main categories of citizens

Soft loans are granted to the following categories of borrowers:

Young families - both spouses have not reached the age of 35 years;
Young professionals;
Persons in military service;
Young teachers;
Families with more than one child have the right to maternity capital.

By the way military personnel mortgage in the amount of 2,4 million rubleswhich they do not pay. All payments for them are paid by the Ministry of Defense.

Thus, preferential mortgage programs have a number of the benefits. However, there are limitationsamong which are primarily called lack of opportunity to purchase any housing.

Typically, beneficiaries have to choose from apartments from a particular developer, which are being built in promising, but unpopular areas. In this case, you can often buy only real estate with equity. Read more about social mortgages for young families, military personnel and other public sector employees in one of our past articles.

What you need to consider when looking for a profitable mortgage loan are the most important factors affecting the “profitability” of a mortgage

3. How to choose a profitable mortgage loan - 6 basic conditions that you need to pay special attention to

To understand which mortgage is the most profitable, it is important to analyze and compare the existing offers on the market.

It should be remembered that mortgage agreement requires the borrower maximum attention. You should carefully study the entire text, especially the so-called fine print.

Specialists recommend paying special attention to the following conditions:

loan currency;
down payment amount;
interest rate;
the availability of insurance and the amount of payments on them;
amount of commissions;
features of early cancellation.

Condition 1. Loan Currency

Often, banks try to lure customers into obtaining mortgages in foreign currency, reducing interest rates on such loans. Specialists not recommend to succumb to such a temptation.

The term of mortgage loans is very long, during this time the national currency can depreciate so much that the size of the winnings on the rates will be inconsequential. Moreover, in our country, the exchange rate of foreign currencies often changes unpredictably. The result is difficulties with paying off mortgages.

Nevertheless, in some situations it is still more profitable to take a mortgage in foreign currency. This is typical for cases when the main income is calculated in this currency.

Professionals recommend following the rule: Mortgages should be made in the currency in which the borrower receives wages.

Condition 2. Amount of down payment

Most often, a mortgage is issued with down payment. This indicator reflects information on how much the borrower should pay as soon as the contract is signed.

Traditionally, the down payment is calculated in the range from 10 to 30% of the total cost of the apartment.

In monetary terms, the amount is rather big. It can be difficult for some to accumulate it. However, in essence, it demonstrates to a credit organization that the borrower's intentions are most serious. Anyone who managed to raise money for the down payment will probably be able to pay the amount of the mortgage debt in the future.

Some borrowers spend time looking for loan programs with a minimum or even zero down payment. However, they forget that such loans are often issued with other less favorable terms.

Moreover, this amount will have to be paid in any case. Only taking into account the accrued interest will it be much larger.

Condition 3. Interest rate

Despite the fact that experts do not recommend putting the interest rate at the forefront, most borrowers pay attention to it in the first place. However, this parameter is far from always the most significant.

Most lending institutions are perfectly able to play on the psychology of the borrower. To attract his attention, banks set minimum bid. At the same time, it is quite natural that not a single credit institution will worry about saving customers more than about its own benefit.

Therefore, do not bribe on the promise of low interest. It is possible that with a further study of all the parameters of the mortgage program, it will become clear that this is just a trick to attract more customers.

Moreover, it will be useful to know that at the moment in Russia the average mortgage rate is 12-15 percent per annum. If you promise a lower percentage, you should study the other conditions even more carefully.

Condition 4. Availability of insurance and the amount of payments on them.

Some borrowers forget about availability insurance at registration of mortgage loans. Meanwhile, this parameter has a significant impact on the size of the future overpayment.

Legislatively established that compulsory insurance loan payments. The borrower has the right to refuse all other types of insurance programs.

Note! Often, it is the client’s consent to voluntary insurance that affects the size of the mortgage rate.

For credit organizations, it is important that the risk of a loan is as low as possible. To protect themselves, they are trying in every possible way to convince customers to insure not only payments, but also health, working capacityas well as myself property.

Under these conditions, the borrower should carefully analyze the benefits of consenting to certain insurance policies.

Condition 5. Amount of other commissions

Often, borrowers do not pay due attention to the availability of commissions when registering a mortgage. Meanwhile, there are various kinds additional paymentsthat affect the interest rate, as well as the overpayment on the mortgage.

Often the first commission a borrower faces is payment for registration and issuance of a mortgage. Some banks have several lending programs that differ in the size of this payment (usually from 1 to 4% of the loan amount). Wherein the higher the commission, the lower the interest rate.

Not everyone can immediately understand which option is more profitable. To determine this, you have to compare amount of commission from overpayment for the entire loan term. Only then can the right choice be made.

The commission for issuing a mortgage is far from the only one. For each lending program should find out about the availability additional payments and carefully analyze their impact on payouts.

So, borrowers often forget about the existence of account maintenance fees. Meanwhile, they are charged monthly. As a result, the benefits of lowering the interest rate are often negligible or completely absent.

So that it does not turn out that there are unexpected overpayments on the mortgage, you should carefully study all the terms of the contract BEFORE signing it.

Often, information about additional payments is indicated in the middle of an impressive volume of agreements. As a result, it can be difficult to notice it.

It is also important to carefully watch how often you will have to pay a particular payment - once a year or monthly.

Condition 6. Features of prepayment

An equally important parameter of a mortgage is opportunity to repay it ahead of schedule. Many borrowers make every effort to remove the burden of payments as quickly as possible. However, for banks it is not It is profitable, because they lose the profit from the loan in the future.

This state of affairs leads to the fact that some credit organizations are trying to limit the ability to repay the mortgage ahead of schedule. They appoint commissions for such actions, and also do not allow them for a certain period of time.

However, most banks offer customers the option of early repayment of mortgages. There are 2 options:

Pay off the remaining amount of debt;
Only add part.

Both of these methods allow you to gradually reduce the size of the overpayment on the mortgage. That is why the possibility of early repayment can be regarded as a sign of a profitable mortgage loan.

Thus, there are a number of parameters that have a significant impact on the profitability of mortgage programs. They should be analyzed comprehensively. This is the only way to determine which option should be preferred.

4. The nuances of a profitable mortgage + professional opinion on whether it is profitable to take a mortgage now

If we talk about whether it is profitable to take a mortgage now, when the economic situation in Russia and in the world is extremely unstable, then in these conditions financiers do not discourage the execution of mortgage agreements. But they focus the attention of citizens that a lending program should be chosen as carefully as possible.. In principle, this rule is relevant in any time period.

One of the basic principles recommended by financial analysts is registration of a mortgage in the currency of income.

A huge number of Russians were trapped. They flattered at attractive rates and took out a loan to buy a home in foreign currency.

Moreover, the difference in the annual rate is not so big - about 2-3%. It would seem that in terms of a large loan in rubles, the overpayment would be substantial. But no one is safe from exchange rate hikes with foreign currency mortgages.

So in 2016 In Russia, the value of foreign currencies increased approximately 2 times. As a result, those who took a mortgage in rubles continue to make a fixed monthly payment. At the same time, for those who issued a loan in foreign currency, it grew in proportion to the rate, that is, in 2 times.

Similar situations were repeated more than once. The result is an extremely difficult situation for the borrower, when it becomes impossible to pay a mortgage.

Specialists call other conditions of mortgage lending, which banks lure customers. They look very attractive, but in practice do not bring real benefits to borrowers. Next, we describe the most common of them.

1) Floating interest rate

Often, bank employees try to convince their customers that floating interest rate Mortgage loan is an incredibly beneficial option for the borrower, as it guarantees a change in the size of payments depending on the market situation. In practice, all risks from changes in the economic situation are borne by the borrowers.

Note! Some experts compare the degree of danger of a mortgage with a floating rate with that which is issued in foreign currency.

In addition, analysts argue that in the near future, improvements in economic indicators to which the rate is tied are not expected.

In addition, experts predict a further increase in inflation. For borrowers it will turn out growth floating rate. It should be borne in mind that such an increase is not limited to absolutely anything, so as a result, for the debtor, this may turn into a situation where it will be impossible to pay the loan.

It is believed that a floating interest rate is beneficial when applying for a short-term mortgage. That is, if you pay the loan within 5 years, it does not threaten trouble. Moreover, it will be possible to save on the amount of overpayment.

But history says the opposite. Many borrowers who are in 2006 they took a floating rate mortgage in the year, they intended to pay it off as soon as possible. However in 2008 year has come economic crisiswhich resulted in significant increase in rates on such loans. As a result, the hopes did not materialize, and the payment increased significantly.

2) Reducing interest on a mortgage in the future

Recently, programs have appeared on the mortgage market that promise borrowers for a certain commission further reduction in interest.

In practice, such an opportunity has to pay huge amounts. Usually the commission is 2-7% of the total amount received in the mortgage.

Banks provide calculations that convince customers that the savings from such rate cuts will be substantial.

In practice, most borrowers seek to repay the mortgage as quickly as possible. In this case, saving makes no sense. Therefore, professionals do not recommend overpaying extra money for such conditions.

3) Mortgage refinancing

Currently, more and more credit organizations offer to issue a mortgage with combined bid. In this case, the loan is initially issued at a reduced rate, and after a certain period will be held mortgage refinancing.

On the one hand, for the borrower there is a certain benefit of refinancing, which consists in getting more profitable conditions. As a result, applying for a mortgage, the client hopes that at the first stage he will benefit from a low rate, and subsequently refinance the loan at average market interest.

In practice, banks, if their benefits are reduced, are reluctant to provide refinancing. As a result, in most cases, borrowers are not given the opportunity to exercise this right.

Most often, borrowers are not provided with the best mortgage terms, they just get variable rate loan.

It should be noted that at the beginning only interest is always paid on the mortgage, while the amount of the main debt remains almost untouched. As a result, the level of overpayment is practically no different from a traditional loan, and the promise of savings remains no more than an advertising gimmick.

Thus, when applying for a mortgage, the borrower must carefully select her conditions. Today, the market offers a huge variety of programs, most of which lure customers with an existing opportunity to save.

Do not believe such promises in word. It is better to study the opinion of professionals about certain proposals.

5. Which bank has the most profitable mortgage - a review of the TOP-5 banks where it is more profitable to take a mortgage

Today, a mortgage can be issued at almost any bank. Moreover, in the lending market you can find many interesting and quite profitable programs.

It is not easy to choose the best one on your own. Therefore, it is best to use ratings compiled by specialists.

The table shows the banks with the most favorable lending conditions:

№	Credit organization	Credit program name	Maximum loan amount	Maximum term	Rate
1.	*Moscow credit bank*	Mortgage with state support	8 million rubles	20 years	7-12%
2.	*Promsotsbank*	Set your bid	20 million rubles	27 years	10%
3.	*Sberbank*	Acquisition of finished housing for young families	8 million rubles	30 years	11%
4.	*VTB 24*	More meters - less rate (purchase of large-sized apartments)	60 million rubles	30 years	11,5%
5.	*Russian Agricultural Bank*	For reliable customers	20 million rubles	30 years	12,5%

It should be borne in mind that you can count on the minimum rate when applying for a mortgage with state support.

6. To whom to ask for help in obtaining profitable mortgage loans - mortgage brokers will help

Not everyone can figure out all the features of mortgage programs. Many of these analysis takes a huge amount of time.

However, there is no guarantee that having spent days and weeks searching for the most favorable conditions, it will be possible to draw up the most suitable option with minimal overpayment.

To prevent the payment of a mortgage does not turn into torture, you should seek help professionals.

They analyze the existing offers on the market, as well as select the ideal program for specific conditions. mortgage brokers.

Popular Moscow mortgage brokers are: “Credit Laboratory”, “ABC of Housing”, “Credit Decision Service”, “Flash Credit”

In megacities, such functions are performed by entire specialized organizations. But even in small cities you can find a mortgage broker. Most often they work in popular real estate agencies.

7. Frequently Asked Questions (FAQ)

The topic of mortgage lending is extensive and multifaceted, so often those who are looking for the best program have a huge number of questions.

It’s far from always possible to spend time looking for answers on the Internet. To make life easier for our readers, we provide answers to the most common questions.

Question 1. How is it profitable to take a mortgage for housing?

To get a mortgage loan as profitable as possible, you will need, first of all, to conduct a thorough analysis of the programs offered in the city of residence of the future borrower. In more detail about how to take a mortgage for an apartment, house or land, we already talked about in a previous article.

In this case, you should pay attention to a number of indicators, the main ones of which are:

loan amount;
term for which it is planned to issue a mortgage;
interest rate.

Do not forget about the various commissions, as well as insurance.

When looking for a profitable mortgage, you should first pay attention to programs in banks where the future borrower is already by customer. This can be a credit institution, on the card of which the applicant receives a salary, or where another loan was issued and successfully repaid.

Credit organizations are usually more loyal to these categories of customers. Besides, in these cases, you can count on more favorable conditions, for example, interest rate reduction.

Those who have more favorable conditions for a mortgage loan can also count on substantial amount for down payment. If the borrower has 50% the cost of the apartment, the bank will offer him the minimum bid.

And vice versa, in the absence or insignificance of the down payment, the loan rate will be maximum. This rule allows credit institutions to insure the risks of non-return of funds, as well as the collapse of the economy.

Another indicator that has a significant impact on the profitability of mortgages is loan term. On the one hand, a mortgage loan for maximum the term leads to the fact that the monthly payment will be small. As a result, it will be much easier for the borrower to fulfill obligations.

It is important to note that the longer the loan term, the higher the overpayment.When applying for a loan for a period of more than 10 years, it may exceed the original loan amount. It turns out that the cost of the apartment will increase significantly.

In this case, obtaining a mortgage on minimum the term leads to the fact that the monthly payment will be much higher. Therefore, the borrower should find the best balance. between the term and the size payment. Ideally, the monthly mortgage payment should not exceed 40% of total household income. Using our calculator, you can calculate your mortgage online:

Those who do not have time to independently analyze mortgage programs can be advised to use internet servicesthat online help you find the best deal. Moreover, many sites have the ability to immediately submit application on an interested offer.

In addition, it is possible to seek help at specialized agency. This will help not only to analyze the existing mortgage programs on the market, but also to choose the most beneficial for a particular borrower.

Experts analyze the financial situation for each case, without hiding tell about the pitfalls of each program. However, it should be borne in mind that such services are not cheap. Depending on the region of residence of the borrower will have to lay out 10 000 - 50 000 rubles.

Question 2. What is more profitable to issue - a mortgage or a consumer loan when buying an apartment?

Today, many seek to buy an apartment in any way possible. In most cases, an ideal option would be mortgage loan. Today, many banks offer such programs. By the way, we talked about how to buy an apartment on a mortgage - where to start the process of buying a home in the last issue.

Nevertheless, some citizens are of the opinion that it is much more profitable to buy real estate by registering non-targeted loans. They believe that consumer loans in many respects are more profitable to draw up than mortgage loans.

A huge number of people dream of buying an apartment. Firstly, this is almost the only way to get rid of the need to rent an apartment. SecondlyReal estate almost never depreciates. Even in those cases when there is a decline in apartment prices, subsequently, the cost returns to its former level.

Despite the fact that the demand for apartments is at a consistently high level, not everyone wants to get involved in mortgage lending for some reasons:

protracted decision-making by the bank;
many consider a mortgage a bondage for life;
difficulties with paperwork.

More and more borrowers prefer to get a mortgage, which they spend on buying an apartment. Despite the fact that the percentage in this case is higher, they consider non-targeted loans more profitable, explaining this with the following advantages:

To obtain a non-targeted loan, the required package of documents is much smaller. Usually it is enough to present a passport and a second document, a copy of the work book, a salary certificate. In some cases, collateral is required.
From the moment of filing the application until receiving the money, a few days pass when applying for a consumer loan. At the same time, registration of a mortgage is a much longer process. Often it drags on for several months.
In case of improper loan, encumbrance on the property is not imposed. If the apartment is purchased by registering a mortgage, it is issued as a security.
Upon receipt of a consumer loan, additional payments and commissions can be significantly lower than when applying for a mortgage. Often, when applying for a mortgage loan, you also have to pay contributions for home and life insurance of the borrower.

Once it was impossible to get a large sum of money on a consumer loan. Today, the maximum loan amount is constantly increasing. This is what makes it possible to replace a mortgage loan with an inappropriate loan that will be spent on buying an apartment.

Despite a significant number of advantages, one can distinguish a number of disadvantages of such a scheme:

A mortgage can be issued for a longer period - most programs can repay a loan within ten years, the maximum term reaches fifty;
The amount of a consumer loan is much lower, therefore more will have to be accumulated for the down payment;
For non-targeted loans, interest rates are traditionally higher;
Due to the short term, the monthly payment on a consumer loan is much higher.

Thus, it is impossible to unequivocally say which is better - a mortgage or a non-targeted loan. Specific conditions should be studied.

One side mortgage designed specifically for buying an apartment. Therefore, it is suitable for those who do not have the opportunity to quickly accumulate a substantial amount.

On the other hand for those who do not have a small amount for an apartment, it is better to issue consumer credit. Despite higher interest rates, it has a number of advantages - the apartment will not be a guarantee, you will not have to pay for the services of appraisers and insurers. In detail about where and how to get a consumer loan without information on income and guarantors at a minimum interest, we already spoke in our article.

Question 3. Where is the cheapest mortgage in the world?

The lowest interest rate on mortgages was set at 2016 year in Czech Republic. On average, for banks in the country, this figure was 1,89%.

Thus, the country broke its own record set a year earlier. Then the rate was 1,94%. According to the conditions of the Czech mortgage, the percentage is fixed and does not change during the term of the contract.

It is only natural that the inhabitants of this European country are actively using this opportunity to improve their living conditions.

In May of last year alone, eleven thousand mortgage agreements were concluded there for an amount equivalent to 55 billion rubles. The average size of each loan corresponds to five millions of rubles. Favorable mortgage conditions lead to an increase in demand for real estate, so its value is constantly growing.

Other states also offer favorable terms for mortgages to citizens and visitors. AT Switzerland bid for such offers is at 2%.

In some countries, for example, Of England, Of Finland, Germany and Of Austria this figure is 3,5%. A little higher percentage where you can buy real estate on the coast - at Cyprus, at Italy, Greece, Of Spain.

8. Conclusion + video on the topic

Thus, the question of choosing the most profitable mortgage program is difficult and multifaceted. You should not be bribed by low interest rates and consider that this parameter determines the most favorable conditions.

Making a choice is important analyze all mortgage programs, comparing not only the percentage, but also other conditions. Do not forget about those that are not as obvious.

Those who do not have enough time to collect information about all existing programs can use free internet servicesthat help compare offers from different banks.

If you also need professional advice on which program will be ideal for a particular borrower, you can turn to mortgage broker.

We advise you to watch a video on how to take a mortgage, what are the main points you should pay attention to when drawing up a mortgage agreement and choosing a property: