To become a member of the mortgage program from Sberbank, you should collect the necessary documents, select the optimally suitable parameters and conditions, as well as choose real estate and take out an insurance policy for it. In addition to these requirements, you must comply with the age limits set by Sberbank. It is important to have an idea of from what and to what age you can get a mortgage at Sberbank. Read more about this below.
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The influence of age on the issuance of a mortgage
Since mortgage repayment periods can vary from several years to several decades, the bank strives to avoid the risks associated with non-payment of debt obligations in every possible way. Almost all banks have the same age limits.
How old are mortgages?
One of the main requirements that the bank puts forward to its customers is the age limit. In Sberbank, you can get a mortgage loan from the age of 21. However, there are differences in restrictions regarding the limit figure.
Until what age can you get a mortgage?
The age of the borrower at the time of closing the mortgage is important, subject to planned payments.
Mortgage programs have different age limits.
Restrictions for women
- a loan secured by state support - up to 55 years, that is, within the retirement age;
- mortgage for the purchase of a private house or apartment (secondary or primary market) - up to 75 years;
- credit for the construction of a country house - up to 75 years.
Restrictions for men
- a loan with state support - up to 60 years;
- mortgage for the purchase of a house or apartment (secondary or primary market) - up to 75 years;
- home construction loan – up to 75 years;
- mortgage for military personnel - up to 45 years.
Age restrictions for military personnel
Mortgages for military personnel are issued until the borrower reaches the age of 45 years.
The essential conditions for obtaining a mortgage are the length of service, as well as the level of wages. This largely determines the size of the mortgage loan.
Experience is confirmed in two directions:
- stability (at the last place of work it is necessary to work for at least 6 months);
- reliability (over the past 5 years, it was necessary to work, in total, more than 12 months in any organization).
Mortgage terms in 2019
Having found out how many years you can get a mortgage at Sberbank, you should start collecting documents. By and large, it is only required to collect certificates and statements confirming all the above conditions of the bank.
Simultaneously with the preparation of documents, it is necessary to choose a suitable mortgage program. Each of them has its own interest rate, as well as repayment periods. In addition, there are targeted mortgage programs that are created for the purchase of various types of housing: in the primary or secondary markets, in a multi-storey building under construction or for the construction of a private house. Typically, interest rates range from 7.4-12%. Other parameters are almost the same in each program:
- the minimum loan amount is from 300 thousand rubles;
- the maximum loan amount is up to 1.5-3 million rubles. In some cases, the loan amount can vary up to 10 million rubles;
- terms (except for mortgages for military personnel);
- the amount of the first payment - from 15%.
Depending on the size of the down payment, the bank may provide different conditions for repayment of the mortgage. If the majority of the amount is paid, you can get a mortgage on the most favorable terms.
This article tells how many years the bank can approve a mortgage and other subtleties of obtaining a mortgage loan.