Many Russians are clients of Sberbank of Russia. This is motivated by the fact that the bank operates on a state basis and offers users the most optimal conditions. In addition, there is a wide range of credit lines, including a loan secured by an apartment.
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Conditions of a non-targeted loan secured by real estate in 2019
One of the most popular lending programs is a loan secured by your own real estate. Under this program, Sberbank offers the lowest level of interest rates in the country.
The benefits of this type of loan include:
- The interest rate in 2019 is from 12% per year.
- Deferred payment service. Debt refinancing may be offered.
- The maximum loan term is up to 20 years.
A loan secured by an apartment in Sberbank has the following conditions:
- the age of the borrower must be at least 21 and not more than 75 years old at the time of repayment of the loan;
- property left as collateral should not be involved in contentious litigation;
- the borrower must hold the primary title to the property;
- the loan amount cannot exceed 60% of the appraised value of the real estate object, issued as collateral (inclusive).
A loan secured by an apartment or other property
Sberbank is ready to issue a loan to a client, not only secured by an apartment, but also secured by another type of property, for example, own business. Specialized specialists will assess the real state of the business and give an answer whether it can be used as collateral. But still, it is much easier to get a loan secured by an apartment.
If loans have already been taken, Sberbank can offer more loyal terms of interaction. You can count on a reduced interest rate if you have a Sberbank salary card in use. In general, credit programs are aimed at different categories of consumers.
In order to obtain a loan secured by real estate, you must provide a standard package of documents. Sberbank of Russia can lend to potential borrowers not only in the national currency, but also in any other.
Loan secured by a share of property
Both the apartment and the share in it can act as collateral. This procedure involves a more complex registration process, because. Sberbank does not have a profile program specifically for such cases.
Why is it so difficult to get a loan against a share in an apartment? It is problematic to collect a debt by force, since it is not so easy to alienate a share, especially if minors are registered in the apartment.
Often, during litigation, the court protects the rights of co-owners of real estate. So, if the bank agrees to issue a loan secured by a share in a private house or city apartment, a number of additional documents should be collected, including permission from other homeowners.
Why does a bank need collateral? It is required as a guarantee of repayment of debt obligations on time. Sberbank will be able to return the loan amount due to collateral.
secured loan calculator
To calculate on the online calculator, you should go to the official page of the bank. By setting the necessary parameters, you can calculate as accurately as possible:
- the amount of repayment of debt obligations;
- the amount of overpayment on interest;
- the total amount to be paid in the end.
The calculator will allow you to create the optimal schedule for loan payments. For accurate calculations, you must correctly fill in the appropriate columns:
- indicate the currency and amount of the loan;
- payment type and desired credit period.
Further, the calculator will automatically perform the necessary calculations and provide an estimated amount of payments that will need to be paid to the bank each month, as well as the total amount of credit funds.
But the most accurate way to calculate a loan secured by an apartment in Sberbank is at a bank branch.