What to do if there is almost no money for the down payment on the mortgage? Five ways to find money for a down payment on a mortgage No money for a down payment on a mortgage

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. Delay on mortgage loans the most minimal (3-4%), and those who decide on a mortgage, as a rule, quite regularly fulfill their obligations to the bank.

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 take out 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! Monthly payment for the mortgage must be half of the family's net income (minus loan and card payments, as well as expenses for dependents). 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 one more real way To avoid searching for a down payment is 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 large 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 mortgages. You can very quickly end up in 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 it in credit history and can cut the amount of an already approved mortgage or completely turn the application into a refusal, and you will be left without an apartment, but with consumer loan on hands.

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.

A mortgage without a contribution for maternity capital is currently the most profitable in Sberbank (from 12% per annum) and Uralsib (10.8%). At Raiffeisenbank you can get a mortgage without a down payment from maternal capital at 12.5% ​​per annum, but only if you have an official income of 2 personal income taxes, if according to the bank 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 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 necessary documents so that you are 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 there is no such money on hand, then we submit an application to the bank for 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.

Welcome! Today we’ll talk about what a mortgage without a down payment is, whether it’s possible to get a mortgage without a down payment and whether it’s worth it, and where to get a mortgage without a down payment as profitably as possible. In general, if you don’t have a down payment, but you really need housing, then be sure to read the post to the end.

First of all, let's understand what a mortgage is and why banks require a down payment.

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, a down payment 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 ways to get an apartment with a mortgage without a down payment. As a result, it will become absolutely clear to you how to get a mortgage without a down payment in your case.

Classic version

A classic mortgage without a down payment in 2020 is presented by a bank - this is Metallinvestbank and its “Mortgage without a down payment” program.

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%).

Important point! In most cases, a mortgage without a down payment in the classic version is issued for new buildings and from a developer specially accredited by the bank.

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.

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.

Let's look at a simple option.

Example. To save up 1 million rubles for a studio in Novosibirsk in a year, you need to save 12,500 monthly + pay 12,500 for a rented apartment. In total, with an average salary of 30,000 rubles per year, it is quite possible for a studio to save for PV. If you don’t bother, but immediately take out a mortgage without a down payment in overpriced finished housing, then over 20 years the overpayment will be approximately 1.8 million, and taking into account a year of rent and a mortgage with 15% PV, for the same period - 1,472 thousand. rub.

From our calculations it follows that even in the overstated version, a mortgage without a down payment is inferior to a classic mortgage with a PV.

Another question is when you don’t have your own home and it’s simply impossible for you to save up for a bank deposit, then this mortgage will be the only solution housing problem and there is no time to calculate profitability.

Question from readers. I want to take out a mortgage to build a house. How to get such a mortgage and is it possible to do without a down payment? Where can I apply for a loan and at what interest rate will it be issued?

Our answer. You can borrow from Sberbank at a rate of 6.5% per annum. You can bypass the down payment by providing receipts for the purchase of materials or agreeing with contractors to provide him with an advance payment for allegedly completed work (there must be a payment document).

New program for 2020 from the state

In 2020, it is planned to launch a special support program for a number of categories of citizens who are least protected in social terms (those in need of housing improvements, low-income people, large families, etc.). It is assumed that the down payment subsidy will help such categories of citizens purchase their own housing with a mortgage. We wrote more about the program

We hope you no longer have any questions about how to get a mortgage without a down payment. If not, then we are waiting for your comments at the end of the post and questions for our lawyer in a special form in the lower right corner.

Subscribe to project updates and press the social media buttons!

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 most high percent defaults were observed on mortgage loans with low or no down payments. 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.

Down payment amount
Cash equivalent of down payment		500 thousand rubles.	1 million rub.
The best loan rate among all bank offers
Monthly payment amount	69.979 thousand rubles.	59.024 thousand rubles.	55.464 thousand rubles.
Additional expenses	Standard mortgage costs + high bank commission for issuing a loan and its servicing (up to 8% of the amount)	Standard mortgage costs + additional insurance	Standard Mortgage Costs

Good afternoon Today we continue our series of materials about mortgages for young families and plan to highlight a rather serious issue that worries many future borrowers. We will talk about the problem of making a down payment on a loan. It is no secret that it is quite difficult for a young family, especially one with children, to accumulate a fairly large amount of funds (and the down payment is 10% of the cost of housing). At the same time, it is almost impossible to take out a mortgage loan and not make a down payment.

Benefits for young families in mortgage lending, of course, include favorable loan conditions, but in most cases this concerns longer loan terms and low interest rates. Banks do not change the conditions regarding the down payment - it must be at least a tenth of the cost of the purchased home.

Why do you need a down payment?

First, let's talk about the very essence of the down payment: how its size is determined, what it is, and for what purpose do banks oblige borrowers to pay this fee.

So, the down payment is a certain amount (usually expressed as a percentage of the cost of the purchased product, real estate or car), which the borrower must pay before signing with the bank loan agreement. In this case, as a rule, the purchased goods are pledged for a loan.

There are three main reasons why banks include in the terms of lending (now we are talking mainly about mortgage lending) the obligation to make a down payment. Moreover, in most cases, all these reasons apply at once:

• increasing confidence in the borrower on the part of the bank, creating confidence in the client’s solvency. Of course, when banks lend to clients for very large amounts, even with collateral (and mortgages refer specifically to such loans), they strive to protect themselves as much as possible. Confirmation by the client of his intention to purchase an apartment and pay monthly fees by depositing a large amount own funds is ideally suited for these purposes;
• the opportunity to settle legal formalities related to the re-registration of real estate and its transfer as collateral. To clarify this, let us turn to the standard scheme for obtaining a mortgage loan: making a positive decision - drawing up a purchase and sale agreement - paying part of the cost of the home through the down payment - completing all the necessary documents - full payment to the seller. If we exclude the initial payment from this scheme, it turns out that either the seller needs to re-register the property to the buyer before receiving funds, or the bank needs to transfer the entire loan amount to the seller’s account before registering the collateral. Any of these solutions, although they have the right to life, are quite difficult to implement - in most cases, both the seller and the bank will not take such measures;
• the difference between the assessed and collateral value of real estate is the third and probably the most important reason why banks oblige borrowers to pay a down payment. The estimated (also known as market) value of housing is the price at which the purchased property can currently be sold. This value is determined using special algorithms by bank specialists or an independent appraisal company. In a simplified way, this technique can be represented as follows: in advertisements, real estate agency databases, and the Internet, specialists find 10-20 objects that are closest in parameters to the one being purchased. Next, options with minimum and maximum prices are “cut off” - usually such offers do not correspond to the real situation on the market. The remaining options are brought to the “basic” form - that is, using certain coefficients, adjustments are made for the parameters in which the found option differs from the evaluated one. Then the average value is calculated, which will serve as the estimated value of the property.

However, the determination of value does not end there - bank employees will have to indicate the collateral value of the housing - that is, the value at which this property will be pledged to the bank. The collateral value is always lower than the appraised value - their difference is the so-called “discount”, which is expressed as a percentage of the appraised value. The essence of the discount is that it reflects the bank's costs for selling an apartment or house in the event that the housing has to be sold to pay off the loan debt. Thus, the discount that is applied in a particular case directly depends on the characteristics of the property - the more liquid and in demand the property, the easier and faster it is to sell, and therefore, the lower the discount. Thus, the most popular real estate properties - 1- and 2-room apartments in good residential areas, especially recently built - will have the lowest discounts, and therefore the highest (as a percentage) collateral value.

It is worth saying that for the borrower, the use of discounts by the bank does not bode well: after all, the loan provided is an amount no greater than the collateral value of the housing, and the apartment will have to be paid in full, which is unlikely to be much lower than the market average (and therefore the estimated price) . The difference between the cost of housing and its deposit amount in this case represents the size of the down payment.

Example of loan terms

As an example, we will give the terms of one of the most attractive mortgage lending programs for young families from Sberbank.

The loan is issued to young families - those in which at least one of the spouses is under 35 years of age. The maximum loan term is 30 years, the interest rate is from 10.5%, there are no additional fees. Loan amount from 45 thousand rubles.

An additional advantage of the program is that it is possible to attract co-borrowers, which is a big plus for a young family. In addition, income can be confirmed with a bank certificate.

But at the same time, this program also has a significant drawback - the need to make an initial contribution (at least 10%).

Client's view

Note that there is some benefit for the client in using initial payments: after all, if the borrower has the opportunity to contribute his own funds, the loan amount is significantly reduced. As a result, both monthly payments and overpayments on the loan are reduced.

But in most cases, the condition for paying the down payment puts the borrower in rather difficult conditions. This is especially true for young families, whose income is usually insufficient to save large sums. In addition to the down payment, the borrower will already have to incur quite large costs: for an independent assessment of the property, paperwork, payment for insurance, and after moving in - for repairs and the purchase of necessary furniture and equipment. At the same time, do not forget that within a month after the loan agreement is drawn up, you will have to make the first payment on the loan.

Of course, in such conditions, many borrowers are looking for opportunities to reduce the down payment or reduce their own costs of paying it. It is these methods, especially those suitable for young families, that will be discussed below.

Where can I find funds?

So, a young family is planning to take out a mortgage loan or has even received a positive decision from the bank. However, there are not enough own funds to make the down payment (or it is planned to use the available funds for other purposes - for example, renovations in the purchased apartment). How can we solve this problem?

1. Further savings. This solution is the most obvious and beneficial for both the borrower and the bank. If possible, we recommend postponing applying for a loan for a while and saving money directly for the down payment. As the experience of many families shows, targeted savings take very little time even for families with an average income, and after applying for a loan you will have no other obligations except mortgage payments. The downside of this decision is that you will have to wait to buy a home.
2. Non-targeted loan from a bank in an amount sufficient to make a down payment. pros: you don’t have to spend your own money; you can also take out a loan for additional expenses. Minuses: a large amount of debt appears - you will have to pay off the debt on several loans. In addition, banks may not provide a mortgage loan if there is already an existing non-targeted one - after all, the family’s income is limited, and there may not be enough funds to make payments on all loans.
3. Applying for a mortgage loan without a down payment. Let us note right away that, firstly, there are very few such offers on the market. Secondly, they all have high interest rates and commissions. Of course, in such conditions, to talk about any preferential terms for young families it is not necessary.
4. Additional loan collateral can be a great way to increase your loan amount while avoiding paying a down payment.
   The additional collateral can be real estate owned by the borrower or close relatives, or rarely vehicles (the fact is that the service life and wear time of cars is much less than the average duration of a mortgage loan). Due to the additional collateral of real estate, the borrower has the opportunity to increase the loan amount - after all, the maximum collateral amount will be calculated as the total of the collateral values ​​of all real estate objects.
5. “Affordable housing for a young family”. This Government program allows you to receive a state subsidy, the amount of which is calculated based on the number of family members, including children. Unfortunately, the funds received will not be enough to purchase housing, but they can be used to pay the down payment.
   To become a participant in the program, a young family only needs to submit an application to the authorized bodies and collect Required documents. Main disadvantage— lengthy review of documents, bureaucratization of all stages of decision-making. For this reason, it is worth addressing the issue of obtaining a subsidy in advance, before applying for a loan and selecting housing. However, all the disadvantages are “overshadowed” by the main advantage of this method - the subsidy is provided free of charge by the state. Thus, the borrower not only avoids the need to pay a down payment from his own funds, but also reduces the purchase price, the loan amount, and, as a result, the overpayment on the loan.
6. Maternal capital. Of course, this method is suitable only for those families in which a second (or subsequent) child was born, and they have not previously registered maternity capital.
   Like a subsidy for a young family, maternity capital is provided free of charge, and its amount is sufficient not only to pay the initial payment, but also to reduce the loan amount - in 2013, the amount of maternity capital is more than 400 thousand rubles, and every year it is indexed. Maternity capital has one more positive feature - unlike subsidies, its registration is “on-line” and does not require the collection of numerous documents and long waits. It is worth noting that you can use maternity capital funds to pay the initial mortgage payment immediately, immediately after its execution. In other cases, you will have to wait 3 years after the birth of the 2nd child and the certificate is issued.

As you can see, there are quite a few ways to avoid paying a down payment from your own funds, and some of them are quite attractive, especially for young families. In our next articles we will discuss other current issues regarding mortgage lending young families, and we will give recommendations on how to apply for loans of this kind.

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 take out 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 mortgages. You can very quickly end up in 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.