Interest mortgage rates of banks: comparison

In the article, we consider the comparison and rating of mortgage rates of banks. A variety of various loan offers today requires a careful approach to the issues of their study and comparison of various nuances. One of the basic criteria is the interest rate on the mortgage, the sum of expenses and the total costs depend on it. It is she who demonstrates the amount of interest that a financial organization will need to pay for the use of the funds provided.

Comparing mortgage rates of banks will help you not to get confused and choose the most optimal option.

The state of things today

The selection and evaluation of mortgage lending involves knowing the value of the property along with the size of the down payment, loan terms and rates for the product provided. The interest rates of financial organizations in their comparison are crucial in the selection of an investing bank.

Unfortunately, in fact, today the country's economy is in a crisis state, which affects the construction industry along with the banking sector. Housing prices have dropped significantly, but mortgage rates of banking institutions are not. This is directly related to the increasing risk in the construction field. The fact is that modern banks are simply forced to play it safe, and in this regard, they are laying rather high interest on lending services for purchases and building housing.

Many experts note that the construction industry is now in stagnation, banks do not give loans to relevant organizations, so the construction of new housing stops. Large players remain on the market who have a fairly strong material base, but they also face difficulties in the process of financing the construction that has begun.

Next, we will compare the mortgage rates of banks, and a rating will also be presented.

Rating

Consider the rating of banks that this year offer the most favorable interest conditions. We give the information in the form of a table:

In order to study such a thing as an interest rate on a mortgage, the above table will come in handy. Even a comparison of the advantageous mortgage rates of banks will be useful in terms of understanding what it is necessary to pay attention to. And also what it is worth looking at as part of the study of similar proposals.

How can I choose the most profitable mortgage lending program?

In each situation, everything is decided purely individually based on the available capabilities of the borrower and the requirements of the financial organization. The closer these positions are to each other, the greater the likelihood that the deal will be successful in the end and will satisfy both sides at once.However, in general, in the search for a suitable mortgage, you need to pay attention to such important factors:

1. The ratio of the down payment to the price of the purchased property.
2. General loan terms.
3. The size of interest rates.

Of course, other conditions for the provision of funds will play their role. Of great importance will be the possibility of early debt repayment of the loan, along with the need to provide collateral, the cost of insurance, its fundamental need, and so on. Additional factors with nuances can sometimes play a very important role.

Comparison of the conditions of mortgage rates of banks in 2019

As can be seen from the above table, the program from Sberbank includes rates in the amount of six percent. The cheapest is new housing. The maximum term is thirty years. At the same time, initial payments cannot be less than fifteen percent of the total value of the object. Through this bank, several different state programs are being implemented aimed at supporting young families, and at the same time, military personnel and other categories of citizens. Against the background of certain conditions, you can reduce the numbers to a minimum value, or even lower.

VTB 24 Bank provides mortgage loans of six percent with state support. The size of the down payment can vary from ten percent.

The value of the mortgage rate at Alfa Bank this year is 9.68% when buying ready-made housing. The initial contribution is equal to fifteen percent of the price of real estate. General terms for debt repayment are standard and reach thirty years. Corporate and regular customers may receive some benefits in relation to standard conditions.

Interesting rates are offered by Raiffeisenbank. Here it is taken from 6% annually. At the same time, repayment periods are ordinary and range from one to thirty years, as well as the first installment (from fifteen percent). However, the advantage is the higher loan amount that a client of a given bank can receive.

Used apartments

Why might you need a comparison of mortgage rates of banks on secondary housing? In the choice of housing loans, interest usually plays a decisive role. However, the main options of the mortgage are of no small importance, we are talking about the currency, amount, maturity, additional payments, the size of the down payment. What is offered in 2019 by banks to private clients who wish to purchase real estate on the secondary for loans?

Resellers from Sberbank

So, we will conduct a detailed comparison of interest mortgage rates of banks.

Sberbank credits the purchase of real estate on the secondary market at a rate equal to 13.95% or 0.5% less for all salary clients. The initial contribution as a percentage of the price of the apartment is low and is usually from 15%. Terms of service up to thirty years. The maximum amount for this is not limited to customers.

Young families have the right to take a mortgage in a financial institution under the same conditions, but at reduced rates, namely from 12.5 to 13%, moreover, without the need to confirm income. It is worth noting that Sberbank takes care of young people, just like the older generation: it is the only financial institution in the country that does not refuse pensioners a mortgage on real estate.

"VTB 24"

To compare the mortgage rates of banks, consider the conditions of VTB. Are they profitable?

“Acquisition of finished housing” is the simple name of the mortgage product from the bank in question on the condition of 14% + 1% to customers without insurance. The advantage of this loan is the following: the rate is not increased in case of refusal to confirm income with a certificate in the format of a financial organization.You can take up to ninety million rubles for up to thirty years, the contribution is from twenty percent.

Comparison of mortgage loan rates of all banks is important to make in advance so as not to miscalculate.

Gazprombank

“An apartment in the secondary market” - that’s what the mortgage of this financial institution is called with a rate of 13.70%, an amount of up to forty-five million rubles, a contribution of thirty percent, for a period of up to thirty years. This bank provides up to thirty million for fifteen years on the security of existing property at a rate of 15.70% without the provision of a down payment by customers. The amount of loan financing will be no more than seventy percent of the estimated collateral value.

Where are the most profitable mortgage rates? The comparison of banks does not end there. However, customers note that the above institutions inspire more confidence.

"Bank of Moscow"

The Secondary Housing service is a product of this bank with a rate equal to thirteen percent. It is provided to participants in a program called "People of Business", we are talking about pedagogical and medical workers, security officials and working in the field of public administration.

For all other borrowers, a service of 14% is provided. The term is up to thirty years, and the maximum amount is not limited. As part of mortgage lending, a contribution of 20% is required. The following two interesting options are available:

1. Assessment of the apartment as collateral at the expense of the bank.
2. Having the opportunity to take one loan at once for several co-borrowers, while their maximum number is eight people.
   

findings

Judging by the current economic situation in our country, despite the Government’s attention to all kinds of problems in providing housing for citizens and the availability of various programs to improve living conditions, the lowest rates during the existence of mortgages and sharply cheaper real estate, one should not expect an increase in the construction of the corresponding products.

It is best to choose a mortgage, which is accompanied by state support in new buildings, as part of the construction of houses and apartments in large cities. It is also worth paying attention to the construction of individual housing (cottages with land), which is carried out using reliable banks with a high rating.

This approach will certainly provide a person with stability in interest rates for the entire loan period, along with the possibility of early repayment of a financial loan without any penalties. The restructuring of possible debt on reasonable enough terms for both parties to the mortgage agreement is not ruled out.

We hope that the comparison of mortgage rates of banks will help you not to make a mistake with the choice.