The value of real estate is growing every year. Despite the constant increase in prices, people need personal housing. The best option for acquiring a property is a mortgage, since it is not always possible to accumulate the required amount. Any bank in Russia can issue a mortgage loan. In addition, each of them has its own rules and conditions for concluding a contract. Many of those who plan to purchase real estate are wondering if the unemployed can take a mortgage, and if so, how to do it.
Mortgage terms
Banks make certain demands on their customers, the main of which are:
- The presence of a steady income.
- The ownership of property - a car or real estate.
- Surety from a third party.
But how to take a mortgage to the unemployed or to someone who is unofficially employed and receives wages in an envelope? A few years ago, a mortgage was available only to officially employed people, but today the situation has changed dramatically. An increase in the number of credit organizations leads to increased competition between them. For this reason, many banks have ceased to require documents confirming income from their customers. Moreover, many professions that are in demand today do not oblige official employment. Banking organizations are trying to keep up to date and are loyal to customers, so you can take a mortgage for the unemployed. However, state credit organizations do not issue loans without providing a full package of documents.
Ways to get a mortgage without formal employment
Mortgages to the unemployed may be issued by banking organizations without providing an official certificate of employment. To obtain the necessary loan, you can resort to one of the three most common options.
First way
Mortgage to the unemployed is granted if the person applying for a loan is an individual entrepreneur or conducts private practice. In this case, the bank will be satisfied with a separate income statement, which can be obtained from the tax office.
Second way
One of the most common options for obtaining a mortgage loan is a guarantee. The guarantor may be relatives or friends; the bank is provided with documents confirming the fact that the guarantor has real estate. The downside is that few people agree to be a surety for another person.
Third way
Payment of half the amount of the mortgage loan on the day of its registration. The remaining half is divided by the bank into parts that will need to be extinguished within a certain period.
other methods
If the mortgage for the unemployed is not registered by the bank using any of the methods listed above, then you can find a credit institution that agrees to repay the loan without providing a certificate of income and surety. This option is quite possible, but fraught with high interest rates and shortened mortgage maturity.
You can get a mortgage loan through tricks: it’s enough to agree on a job and issuing the necessary information. After the loan is issued, the borrower is dismissed from the organization.Banks do not check information about whether the client continues to work in their place.
It’s not worth trying to fake a statement of income: this is considered a crime and criminally punishable.
Consumer loan processing
You can replace a mortgage with a consumer loan: its registration is accompanied by less difficulties. Many banks issue such loans without requiring formal employment from clients. In the questionnaire to be filled out, it is enough for the borrower to indicate the level of income. Such a questionnaire is a legal document, a kind of contract concluded between the bank and the borrower, violation of which is punishable by penalties.
The data indicated in the questionnaire can be verified by the bank. For this reason, when filling out a document, you should not indicate incorrect information.
Credit cards
Mortgages for the unemployed can be replaced by credit cards. Initially, such cards were created for those customers of banks who do not have official employment, so today it is very easy to get them. Of course, the amount for which a credit card is issued is not enough to purchase a property, but it is quite possible to supplement the existing savings with its help.
Banks are ready to issue credit cards even to those customers who have a bad credit history. To get plastic, you do not need to make an initial payment. The card itself is issued immediately after the execution of the contract.
Preferential programs
Various preferential programs are what can be presented and justified as a mortgage for the unemployed. Sberbank and some other banks provide their customers with special lending programs, the conditions of which do not require the provision of information about the place of employment. The only condition is a large down payment - its amount, as a rule, is about 50-60% of the total loan amount.
In the absence of work experience, you can get a loan at the company, which is a partner of the bank. Often, employers conclude partnership agreements with credit organizations to transfer wages to employees, even in cases where the employee is not officially employed. Mortgage to the unemployed in such situations is very beneficial. In this case, the conditions provide for a high credit limit and low interest rates.
Mortgage unemployed with maternity capital
All citizens of the Russian Federation with two or more children have the right to use maternity capital. A certificate of maternity capital is issued at the Pension Fund after the birth of the child. Both parents can use it - both mother and father.
Maternity capital can be used to improve housing conditions - for example, to pay interest on a mortgage loan or make an initial payment. The certificate is most often used as an initial installment for a loan: in fact, every family applies to social services for financial support in order to obtain a mortgage loan.
Accordingly, a mortgage loan can be issued to the unemployed, provided that it has maternity capital. However, in this case, an insurance policy is required. In most cases, a mortgage loan is turned to Sberbank. Do they give a mortgage to the unemployed in this bank, and can a young family arrange it?
Sberbank provides mortgage loans to both young families and the unemployed, but at the same time provides related health and life insurance. This solution allows you to lower the interest rate and minimize risks for the bank. Along with the loan agreement, the client is issued an insurance document.
Where can I get a mortgage loan to the unemployed?
If state-owned banks do not approve the application for a mortgage, then the borrower can apply to small credit organizations. For many people, mortgage loans were approved by banks such as Otkrytie, VTB 24, Sovcombank, Renaissance Credit, and SKB Bank.
The credit institutions listed above can provide an unemployed loan if he provides liquid assets and makes a large down payment.
Often, brokers can help in obtaining a mortgage. The only thing is that you need to carefully choose such a specialist so as not to run into a scammer.
The broker is a specialist who focuses on the financial market and helps to choose the best loan offer. An unprofitable loan for a client is not interesting for him. For his services, he takes a fixed amount, which does not depend on the interest rate or on the size of the mortgage loan being issued.