How to buy an apartment if there is no money: mortgage and other methods. Options for where to get money for a down payment for a mortgage Secured by real estate

What is a mortgage without a down payment? Is it possible to take out a mortgage without a down payment and is it worth it? Where can I get a mortgage without a down payment?

How to get a mortgage without a down payment in 2019: Top 10 proven ways to bypass the down payment

The topic of today's story: " »:

• What is a mortgage without a down payment?
• Is it possible to take out a mortgage without a down payment and is it worth it?
• Where to get a mortgage without a down payment is as profitable as possible.

In general, if not down payment , and you really need housing, then be sure to read this article to the end.

Why do banks need a down payment?

First of all, let's figure out what a mortgage is and why banks require an initial fee.

A mortgage is a loan from a bank to purchase a home. As a rule, the bank takes as collateral exactly the real estate that is purchased with a mortgage. Until you pay off your debt to the bank, your home will be under encumbrance. This means that you will not be able to sell, donate or do anything else with this property.

It would seem that everything is fine. The bank gives you money to buy an apartment, and itself receives a guarantee in the form of a mortgage on it. If you suddenly cannot pay the mortgage, he will simply sell it and get his money back. But it's not that simple.

A mortgage loan without a down payment is too risky for a bank for two reasons:

1. The real estate market is very unstable. Periods of rising property values ​​are followed by protracted crises that bring down housing prices. If a bank issues a mortgage at the peak of prices, then it simply will not be able to sell an apartment at the required price to cover the debt of a borrower who is unable to continue paying the loan during a crisis.
2. No-down mortgages attract low-quality borrowers. Banks believe that if a person cannot save money for a down payment, it means he does not know how to manage his finances, and as a result, there is a risk of non-payment on the mortgage due to low payment discipline. The second point is that banks are convinced that mortgages without a down payment are for low-paid borrowers with “gray” incomes and unofficial employment, and this again poses a risk of future problems with repayment. But practice shows that all this is just speculation by banks. Delays on mortgage loans are minimal (3-4%), and those who decide to take out a mortgage usually fulfill their obligations to the bank quite regularly.

One way or another, but an initial fee has become a mandatory requirement for most banks. With a mortgage, you are required to have 10-15% of cash on hand from the cost of the apartment.

But for every lock there is a master key. Wanting is not harmful, but not wanting is harmful. Now let's talk about 10 ways to bypass the down payment at the bank.

10 proven ways to get a mortgage without a down payment

So, let's look at the most popular methods get an apartment with a mortgage without a down payment . As a result, you will become absolutely clear how to arrange mortgage without down payment exactly in your case.

1. Classic mortgage

Classic mortgagewithout a down payment in 2017, presented by the bank - this is Metallinvestbank and its program « Mortgage without down payment ».

The essence of the program is very simple. You are issued a mortgage in full for the entire cost of the apartment without any problems at a fixed 14% per annum (if you do not insure life and health, then +1%).

Without a down payment, a mortgage is possible only for employees (not individual entrepreneurs and business owners), in the amount of 250 thousand to 3 million, for a period of up to 25 years. It is not possible to obtain a mortgage to build a house under this program.

Use onlinemortgage calculator to make a mortgage calculation without a down payment at Metallinvestbank. The calculated initial payment should not exceed half of your family income.

Important point! The monthly mortgage payment must be half of the household's net income (minus credit and card payments and dependent expenses). For example, if the income of a family of three with one minor child is 50,000 rubles per month. There is a loan with a payment of 5,000 rubles, then the maximum that this family can claim is approximately 1,450 thousand rubles.

Also, a mortgage with 0 down payment can be obtained from SMP Bank (from 12.5%), Bank Vozrozhdenie (from 12.95%) and Promsvyazbank (from 13.3%), but only for a new building and from specially accredited developers.

2. “Moving” program and analogues

The next option on how to get a mortgage without a down payment could be the “Moving” program from Levoberezhny Bank or its analogues in other banks.

If you don't have money for an initial fee , then the bank can lend them to you on the security of your other home. Those. You apply for a mortgage in the bank you need, and the money is an initial fee you receive from Levoberezhny Bank, for example. However, you do not need to pay monthly for this loan.

The money is issued for a year on the condition that during this period you will find buyers for your apartment and sell it with the bank’s permission at the price you need without haste, and then repay the loan with interest. But you don’t have to sell this apartment, but simply return the money to the bank + interest that accrues during this time (from 17.5 to 19% per annum).

The advantage here is obvious - a legal way to get money for a down payment without checking income requirements and your employment.

Example.You are not officially working, but you have an apartment that you can mortgage. The bank will give you no more than 60% percent of its appraised value. From 3 million this is 1800 thousand rubles. At VTB 24 Bank you can get a mortgage using two documents without proof of employment, if you have a 40% down payment. Thus, even if you are officially unemployed or have a low official income, but own an apartment, you will be able to purchase housing for up to 4.5 million rubles.

The disadvantage is also obvious - the presence of an apartment in the property.

3. Secured by real estate

There is another real way to avoid searching for a down payment - to take out a loan secured by existing real estate.

You, as in the previous option, need to own your own property, but you will be given the required amount in cash without analyzing where you will spend this amount.

This is commercial mortgage without down payment . It is very often taken out for business purposes, or for the purchase of non-standard housing, which is not suitable for a regular mortgage.

Mortgages secured by real estate exist in almost all major banks. In particular, at Sberbank you can take out a non-targeted loan secured by real estate in the amount of 500 thousand rubles. up to 10 million. The amount is given within 60% of the collateral value of the property. The term is from one to twenty years at a rate of 14% per annum.

4. Credit

Another option to get a mortgage without a down payment is to take out a consumer loan, including a consumer loan secured by a car, and take out a regular mortgage.

Here you need to approach the matter head-on.

Firstly, you need to calculate whether you can make the loan payment and the mortgage payment at the same time. Consumer loans are issued for a shorter period and at a higher rate than a mortgage. You can very quickly fall into arrears if problems with work and income begin.

Secondly, A consumer loan must be taken out at the right time. Depending on the type of bank, there are different algorithms for issuing mortgages. As a rule, after you have provided documents on the property to the bank after the application has been approved, you can safely go and take out a loan for the down payment, but from a different bank. The bank will not check your credit history again and will not notice that you have a new debt.

But there are other options when the bank requires you to place a down payment in an account or put it in a letter of credit before issuing a loan. Then if you take out a loan, the bank will see this in your credit history and may cut off the amount of the already approved mortgage or completely reject the application, and you will be left without an apartment, but with a consumer loan in hand.

5. Borrow

If you don’t want to overpay, then you should consider borrowing money.

On the one hand, the simplest option. Ask relatives or friends to borrow money and contribute it to pay the down payment on the mortgage, and then return it, if possible, with or without interest.

But on the other hand, not everyone will have the amount they need on hand. To buy an apartment for 3 million rubles, you need to find approximately 450 thousand. The second point is psychological. It is not always convenient to borrow from close relatives and friends, and, moreover, if there are problems with repayment, then you can ruin your relationship with them forever.

The pension fund will transfer the money to the bank within two months and pay off part of the mortgage for you or in full, if the amount is enough.

Mortgages without a contribution for maternity capital are currently most profitable in Sberbank (from 12% per annum) and Uralsib (10.8%). At Raiffeisenbank you can take out a mortgage without a down payment with maternity capital at 12.5% ​​per annum, but only if you have an official income of 2 personal income taxes, if according to the bank’s form, then you need to find 10% PV. Reviews about these banks are only positive.

7. Subsidies from the state

The state actively helps certain categories of citizens in solving the housing issue. In particular, they can take out a mortgage without a down payment in the Moscow Region under the program "Social mortgage in the Moscow region" teachers, doctors and scientists. The first payment for them up to 50% will be covered by the budget.

Without a contribution, a program (social mortgage) should be considered in Moscow and other cities. There are a number of benefits for a young family. You can receive a subsidy from the state up to 35% of the cost of the apartment.

To participate in the program, you must contact local authorities and provide the necessary documents in order to be recognized as in need of improved housing conditions.

There is a savings-mortgage system for the military. Under this system, a certain amount established by the state is accumulated in a special account, which a service member can use to pay the down payment on a military mortgage.

Thus, after three years of service, a zero down mortgage is entirely possible for a military member.

and the best military mortgage offers from Russian banks.

8. Overstatement

If you are planning to rent an apartment without a down payment, then you must know the term “Overstatement”. Now let's figure out what it is.

You can bypass the bank's requirement for a down payment in different ways. The simplest of all options is to simply inflate the cost of the apartment to the bank.

In this situation, you show the bank the cost of the apartment is higher than it actually is by the amount of the down payment, and also provide it with a receipt from the seller as confirmation of payment.

Example. The cost of the apartment is 4 million rubles. The down payment must be, at the bank's request, 15% (600 thousand). If you don’t have such money on hand, then we submit an application to the bank under the following conditions: the cost of the apartment, taking into account the overstatement, is 4,706 thousand rubles, the loan amount is 4,000,100, the down payment is 705,900 rubles. The bank approves the required amount (4,000,100 rubles), and then provides a receipt stating that the seller allegedly received 706,000 rubles from the buyer as a down payment. The bank transfers the entire amount of 4 million to the seller.

Possible problems:

• You may not be able to get your apartment appraised by the bank. If the overstatement is too large and the cost of the apartment differs greatly from the market, then the bank may refuse to lend to this housing.
• It will be extremely difficult to purchase an apartment from a developer in a new building. Banks do not accept receipts from legal entities.
• The seller has a risk that the buyer may demand the return of the “virtual” down payment.

9. Loan from the Academy of Sciences and the developer

To avoid problems with appraising an apartment or need a mortgage without a down payment from the developer, there is a way to take out a loan for the down payment from the developer himself or a real estate agency.

The essence of the program is that you take out a regular mortgage, and the developer or AH gives you an interest-free or interest-bearing loan in the amount of the down payment. You give it to the bank, and then return the loan on the terms that were specified in the agreement.

This scheme is used more often in conjunction with inflating the cost of an apartment, then the developer receives the entire cost of the apartment from the bank at once, and a cash receipt order is issued to the bank for the amount of the overstatement. In this case, after receiving the keys and in the absence of claims from the buyer, the loan agreement is destroyed.

As a rule, an additional fee is charged for this service - 3-5% of the cost of the apartment.

You can also take out a loan from any microfinance organization.

10. Promotions from the developer

To support developer sales, various promotions are often held. For them, mortgages have become a powerful tool for selling apartments. Mortgages with state support simply pulled out the construction industry in 2015-16.

For every developer, the down payment on a mortgage is a headache. The majority of the population simply does not have the money for it. Moreover, when purchasing an apartment in a new building with a mortgage, you also have to pay rent for the apartment while the house is being built.

A promotion from the developer may consist of an installment plan for the down payment or a special discount in the amount of the down payment on an apartment.

It is necessary to constantly monitor the supply market so as not to miss an interesting option.

When is it profitable to take out a mortgage without a down payment, and when is it not?

Before you decide to buy, you should calculate your mortgage using our calculator and think about how profitable it is for you.

It is almost impossible to get a mortgage loan without a down payment - as a rule, it is 15-30% of the cost of the apartment. How to save up for it?

Money for a down payment is not the same as saving from your paycheck for a rainy day. A down payment is a specific amount that you need to have by the time you decide to buy your own home.

It is almost impossible to get a mortgage loan without a down payment - as a rule, it is 15-30% of the cost of the apartment. How to save up for it? ... Finance

Shlomo Benartzi's Principle of Accumulation

Use one of the existing savings strategies. For example, economist Shlomo Benartzi studies economic planning errors and has developed a framework based on the behavior of those who take out a mortgage. According to his research, about ⅔ of Europeans have never made long-term savings and this greatly hinders their ability to predict spending.

It’s unusual for people to cut expenses right now - we are afraid to limit ourselves; Fear is the main thing that prevents us from saving money, and we promise to do it “sometime later.” To cope with the problem, and slowly but surely learn to save, moving from formal amounts to very real ones, Benartzi proposes the “more tomorrow” scheme. The idea is to increase your investment in savings gradually.

For example, first start saving 3% of your salary every month, but gradually increase the share of savings. You can choose the period after which you will increase the savings portion yourself, depending on your goals.

If you need an amount for a down payment, you can increase the savings share by 1 percent every month, or, for example, by 5% every 3 months.

At a certain stage, you will reach the maximum that you can allocate to savings, because there are also current expenses, but it is important to get used to the principle itself and follow it.

Benartzi is confident that this is more forward-thinking than postponing on a residual basis. And if your salary was increased, also transfer the amount by which the salary increased into savings.

Method 50/20/30

A faster and more common technique is 50/20/30. It is based on the fact that it is irrational to divide your income into many parts - it is difficult to control. The main thing is to divide the salary into three parts: 50% - mandatory expenses (housing rent, tuition fees, Internet and communication costs). 30-35% - for future savings, which can become the basis for a down payment, 15-20% for current, but not obligatory expenses - shopping, restaurants, entertainment.

Ideally, you need to save the amount that you will later have to give to the bank as a monthly payment - remember that it should not exceed half of your income.

Aim for a 50/20/30 ratio. The most important figure in this formula is future savings, but it is important to leave some money for current expenses, “for yourself,” so as not to lose motivation and not get frustrated by spending your savings in stores or cafes.

Let's do the math

Let's take approximate figures: for example, you have set your sights on an apartment for 4 million rubles. You want to borrow three million for 20 years from the bank, and put a million (25%) as a down payment.

You can calculate the approximate size of the monthly payment using a mortgage calculator - such services are available on the websites of most banks offering mortgages.

Save money as if you had already been given a loan - about 30 thousand rubles a month. Storage method - bank deposit with interest capitalization. If you deposit 30 thousand every month, in a year you will get 360 thousand rubles. In two years, the amount will increase to 720 thousand (+ interest on the deposit). You will save up the required down payment amount in 2.5 years.

The downside is that housing prices may rise during this time.

Special programs of the state and banks

Benefit for young families. This is a social mortgage for young people, where each family member is under 35 years old. A government program can help you obtain a subsidy, and its amount is calculated based on the number of family members, including children.

A young family must be recognized as in need of improved housing conditions, collect the necessary documents, and register (“in line”) for housing with the local city administration.

Before doing this, it is better to find out how actively the program is developing in your region, how many families have received compensation for purchasing housing, etc.

Maternal capital . This method can be used for families where a second or subsequent child was born. Maternity capital can be spent not only on the down payment on the mortgage, but also on partial early repayment. You can use it immediately after registration. In 2016, the amount of maternity capital is 453,026 rubles.

Applying for a loan without a down payment. As a rule, the bank provides such a loan provided that the collateral is existing housing.

Alternative deal. To speed up the process, funds from the sale of assets can be used as a down payment. For example, the so-called alternative transaction is the simultaneous sale of an existing apartment and the purchase of another in exchange. There are nuances: the asset must be sold within 2–3 months - this is how long it usually takes for a bank to approve a loan application.

How to avoid risks

In addition to life hacks and various ways to quickly accumulate, you will face risks, but you can try to avoid them.

Loss of motivation. Regularly saving money from what you earn is painful. After the initial enthusiasm disappears and the deposited amount becomes large enough, there will be many temptations to use them - not for the down payment, but for something not so important, but pleasant.

To avoid this, try creating a reserve of money for unexpected expenses and impulsive spending, which we all make sometimes. When shopping, do not go beyond this allotted reserve.

Also, don’t completely give up spending “on yourself” - this will greatly reduce your motivation to save further.

Bad investment.“Investment” money is intended to be “played” with, with the risk of losing some or increasing it. The money for the down payment should be kept as securely as possible in order to use it within a certain period, otherwise your purchase may be delayed for several years. Try to treat them more strictly - do not speculate in shares, shares of mutual funds, limit yourself from investing in friendly business.

If you are not a professional investor, not a broker, and do not make money by playing the stock market, you should not start doing this to save for an initial payment. The risk in this case is not justified.

In the current economic situation, many banks are trying to minimize their risks. Therefore, mortgage lending programs require a down payment. This is the amount that the client contributes under the loan agreement in favor of the purchased property. Accordingly, the loan amount becomes smaller. Most mortgage offers from banks include a down payment of 15%.

Therefore, when looking for an apartment, it is advisable to initially have a certain amount of cash in order to satisfy the requirements of banks. Also, the amount of the down payment significantly affects the interest rate. In other words, the more you pay initially, the less overpayment you will have on the loan.

How much money do you need for a down payment?

Each bank has its own different programs, for which the percentage of the first deposit of money is different. Most banks require the client to make about 15-20% as a down payment. Let's take an example of the offers of top banks for 2016 to have an idea of ​​what kind of down payment you need to save.

Sberbank

Depending on how much the client initially contributes and for how long the loan agreement is drawn up, Sberbank builds its mortgage offers on the market of finished housing and new buildings. The minimum threshold for the initial payment is 20%. If, for example, you decide to purchase real estate, and independent appraisers set a price equal to 3,500,000 million rubles, then you will need 700,000 rubles as an initial payment to obtain a mortgage from Sberbank.

The amount for which the bank will approve a loan will depend on what down payment you have. If you have funds that amount to 20 to 30% of the cost of the apartment on the secondary housing market, and you take out a loan for up to 10 years, then the interest rate will be 13% per annum. By contributing between 30 and 50%, the interest rate will drop to 12.75% per year. And if you pay more than 50% of the mortgage with a down payment, then the annual overpayment percentage will be 12.5%.

It is also necessary to take into account not only what down payment you can save, but also the term of the loan agreement itself. For example, if you make 30% as an initial payment, but sign up for a contract not for 10 years, but for 30, the interest rate also increases from 13 to 13.5%.

VTB 24

VTB 24 offers its clients to take out a mortgage with a down payment of 15%. Moreover, such pricing is not relevant for residents of all regions. For those who live in the Vladimir, Chelyabinsk, Kemerovo and Ivanovo regions, the down payment is 20%.

At the same time, how much money you have saved for the initial loan payment is not so important; the additional conditions of the bank will be more important. VTB 24, like many others, reduces the interest rate if you are a participant in a salary project or subscribe to a comprehensive insurance service, i.e., take out life and health insurance, title insurance and property insurance. Although only the last from the list provided is mandatory.

DeltaCredit

In order to obtain a mortgage from DeltaCredit Bank, you need to save 15% of the cost of the apartment. In this case, the interest rate will be 12.5%. DeltaCredit also offers a favorable mortgage offer for those who have 50% as a down payment. In this case, there is an option to draw up a loan agreement for the purchase of real estate on the new buildings market at only 11.5%. Despite the fact that the refinancing rate at which the Central Bank issues is 11%.

How to save for a down payment?

Many experts in the field of lending recommend putting aside about 40% of family income every month to form your initial amount of money. If a family earns 50,000 rubles a month, then it would be advisable to save 20,000 rubles monthly. In this way, it will be possible to form a down payment. And depending on how much the future apartment costs and what requirements the bank puts forward for the down payment, you can calculate how long it will take to save up the first payment.

For example, for an apartment worth 3,500,000 and an initial payment of 20%, which will be 700,000 rubles, saving 20,000 rubles each will require saving for 35 months or 2 years and 11 months. So, if there are no additional sources of income, in order to purchase a home with a mortgage, you will need to prepare in advance.

Ways to form a down payment

If the housing problem is very acute and there is no time to wait for the down payment to accumulate, then you can use other methods of forming the first payment. One of these options would be to apply for a non-targeted consumer loan. You can use funds provided by the bank at interest as the initial payment.

There are pros and cons here. The advantage, of course, is that you will save time, since saving money for a down payment on your own may not work out as quickly as you would like. But on the other hand, you will have two loan agreements drawn up at once. The first is a mortgage, which is formed for a long period, the second is a consumer one, at a fairly high interest rate. Accordingly, there is a possibility that there may simply not be enough finances, and overdue debts will appear.

Maternity capital as a down payment

Many banks, such as Sberbank, VTB 24, offer mortgages with the possibility of using maternity capital as a down payment. In order to take advantage of this opportunity, you will need to provide a certificate to the bank to receive maternity capital. And also contact the pension fund, where you can request a certificate stating that there are funds in the account.

The initial contribution is paid on the basis of an application for the transfer of money from an account opened with the Pension Fund of the Russian Federation to the account of the creditor bank for making the initial contribution. Thus, you can significantly reduce your monthly expenses to generate money for the initial payment to the bank.

Mortgage without down payment

If before the crisis there were enough such proposals, now there are practically none. Banks do not want to expose themselves to risk and provide a mortgage to a client who was unable to save a down payment on their own. There are only a few options when banks manage to cooperate directly with developers, which allows banking organizations to provide mortgages on such conditions.

For an adult, and especially a person burdened with a family, it is normal to want to get his own apartment or house. As in many other countries, the majority of transactions for the purchase of residential real estate in Russia are carried out through mortgage lending. It’s just that in recent years it has been almost impossible to find a bank that would agree to lend money without a down payment, the minimum amount of which is 15-20% of the transaction amount, which is quite a lot. And this stops many potential borrowers, because they simply do not know where to get that kind of money.

Option 1. Accumulate

It’s rare that anyone manages to change the expenditure side of the family budget upward without making significant changes in the family’s lifestyle. Usually you have to either start saving on something or look for an option for additional income. Both options should be carefully weighed to see if they suit your capabilities. If your budget was already very modest, it is unlikely that you will be able to find an opportunity to cut it even more. Moreover, we will be talking about a fairly long period of time. Likewise, you will not be able to find additional employment opportunities if you currently have a fairly busy schedule.

Option 2. Help from the state

Don’t forget about government support programs for Russians who want to take out a mortgage loan. These programs are very different, some (like, for example, military mortgages) are implemented at the federal level and are relevant for the whole country, while others are the initiative of regional authorities. Some of these programs precisely involve compensation of the first loan installment from budget funds.

Option 3. Sell something... needed

Option 4. Ask for money for the down payment on a mortgage as a gift. Or in debt

Most banks are ready to issue a mortgage loan only to those who can independently pay the down payment for the purchased apartment (usually it is 20 percent or more of the future purchase amount). But what to do if your own savings are almost non-existent? Maybe take out a consumer loan and use it to cover the down payment? Or look for a bank with a zero interest rate? Or maybe we shouldn’t rush into getting a mortgage and save up some money first? But if you save, then how much? The answers to these questions are known to the head of the “Mortgage” project of the GdeEtoDom.RU portal Evgenia Taubkina, who has been “cooking” in the mortgage “kitchen” for more than 8 years.

Most banks are ready to issue a mortgage loan only to those who can independently pay the down payment for the purchased apartment (usually it is 20 percent or more of the future purchase amount). But what to do if your own savings are almost non-existent? Maybe take out a consumer loan and use it to cover the down payment? Or look for a bank with a zero interest rate? Or maybe we shouldn’t rush into getting a mortgage and save up some money first? But if you save, then how much? The answers to these questions are known to the head of the “Mortgage” project of the GdeEtoDom.RU portal Evgenia Taubkina, who has been “cooking” in the mortgage “kitchen” for more than 8 years.

Consumer loan for down payment- the most unfortunate decision. The thing is that for banks, the presence of savings for the down payment is confirmation of the borrower’s solvency. If a borrower takes out a consumer loan for a down payment, this further increases both the bank’s risks and its own debt burden. See this for yourself - use our calculator to calculate the monthly mortgage payment and add the monthly loan payment to it. Is it worth it to burden yourself like that?

Not surprisingly, many banks are categorically against borrowers going this route. Moreover, a number of banks can even track situations where a borrower took out a consumer loan for a down payment, but at the same time lied in the application form for a mortgage loan and indicated “own savings” as the source. Of course, in this case he will not receive any credit.

About zero down payment It’s also worth forgetting - as a rule, such offers are followed by very high additional transaction costs. For example, in some banks the commission for issuing such a loan is 8% - as you can see, there is no point in getting involved with such offers. During the 2008 crisis, the highest default rate was observed on mortgage loans with low or no down payment. With this in mind, most banks still apply stricter credit checks to borrowers targeting loans with low down payments.

The most rational decision seems to be to save for down payment of 20% from the value of the property. Banks offer the most interesting conditions for such a contribution. And if you collect even more, some banks will not even check the solvency of clients. However, if it was possible accumulate at least 10% of the amount and there is no longer any reason to put off buying an apartment, you can start looking closely at bank offers or immediately apply for a loan - and this can be done, for example, using the Mortgage service from the portal GdeEtotDom.RU. Of the banks with which we cooperate, mortgages with a minimum down payment are offered by Transcapitalbank, InvestTrustBank (ITB) and MTS Bank. The main thing is to correctly calculate your costs and realistically assess your capabilities.

Approximate calculation for mortgage loans with different sizes of down payment issued for the purchase of an apartment worth 5 million rubles.