Rosselkhozbank mortgage for pensioners to purchase an apartment

Rosselkhozbank is the largest financial institution that provides the opportunity to take out a mortgage loan for pensioners.

A mortgage (in other words, a loan secured by real estate) is issued to older people to purchase the following types of housing:

• apartments in a finished or under construction building,
• detached residential building,
• countryside real estate with a plot of land (dacha, townhouse, cottage) on the primary or secondary housing market,
• land plot for the purpose of further individual residential or country house construction.

In addition to a regular mortgage loan, Rosselkhozbank offers pensioners other mortgage programs of Agricultural Bank:

• refinancing,
• target mortgage,
• mortgage under two documents.

How can a pensioner get a mortgage from the Russian Agricultural Bank?

As with a traditional mortgage, Rosselkhozbank assesses the solvency of the client - a pensioner. There are certain categories of retired persons for whom Rosselkhozbank is more willing to approve applications:

1. Married pensioners. The category of married pensioners looks more stable and reliable for Agricultural Bank than single borrowers.
2. Pensioners who continue to work. Rosselkhozbank evaluates regular labor income as a significant advantage when considering an application - such clients are highly likely to be able to repay the loan taken on time.
3. Clients who own assets. Having additional real estate as collateral will increase the chances of getting a mortgage loan approved, and also possibly reduce the interest rate.
4. Borrowers with a good credit history. The absence of delays on past obligations characterizes the pensioner as a reliable client. For such bank visitors, the mortgage is approved in most cases.
5. With co-borrowers. Pensioners who also have solvent, working and capable co-borrowers on their mortgage can also count on loan approval from Rosselkhozbank. A co-borrower can be any individual, including those who are not related to the borrower.

Important! In the absence of guarantors, Rosselkhozbank may change the conditions: the interest rate will become higher.

Mortgage for pensioners in Rosselkhozbank without guarantors

Pensioners can purchase real estate without a guarantee in an unfinished property, a finished house, as well as individual residential real estate with a land plot. It is also possible to arrange refinancing with Rosselkhozbank. When filling out an application, a pensioner should not forget that the age limit at the end of the loan should not exceed 75 years.

To receive a loan without a guarantee, pensioners need to document their earned income. It is recommended to own additional housing - this will increase the chances of loan approval.

There are other requirements of Rosselkhozbank for borrowers:

• work activity is taken into account. Over the last 5 years, the pensioner must have worked for at least 1 year, of which 6 months were at the last place of employment.
• trustworthiness assessment. In addition to the mandatory documentary evidence of the existing pension, it is recommended to provide documents evidencing deposits, ownership of securities, vehicles, etc.

The most favorable conditions

The interest rate offered to pensioners at Rosselkhozbank is determined taking into account the contribution paid by the client at the very beginning and the selected period.

When applying for a mortgage loan, it is more profitable for pensioners to deposit as much as possible at once. The optimal period is 10 years. With this choice, the value of regular payments and the interest rate allow you to minimize overpayments.

To receive a targeted loan for the purchase of housing, you must meet the criteria of age, work experience (for working pensioners), citizenship and registration.

A plus will be the presence of other property and documents confirming additional income. Participation of co-borrowers in a mortgage increases the chance of the bank approving the transaction.

* If there is a co-borrower whose age at the end of the contract is no more than 65 years old; By the time the borrower turns 65, half of the loan term must have passed.

Mandatory requirements for all programs are Russian citizenship and registration in the Russian Federation.

Thus, the following categories of pensioners can count on mortgage approval:

• employed pensioners whose age is less than 65 years, and in some cases 75 years;
• pensioners who have worked for a total of 12 months over the last 5 years (six months under certain conditions) - to include wages in income;
• persons who have been running private household plots for more than a year;
• non-working pensioners with sufficient income.

The likelihood of concluding an agreement increases for RSHB clients with a pension or salary account, or with a positive credit history with this financial institution.

Housing purchased on the secondary market should not be in the queue for demolition, belong to the category of emergency, be registered for upcoming major repairs, be subject to reconstruction with resettlement, or have an unapproved redevelopment.

Additional terms:

• the property should not be claimed by third parties who are not the owners;
• housing should not have restrictions on use;
• No court decisions have been made regarding the facility that can be appealed.

The collateral located on a land plot with ownership rights must be connected by an energy supply organization, have a foundation made of brick, concrete or stone, load-bearing walls and ceilings made of stone, wood, concrete or brick, and be in satisfactory condition, without structural defects.

When participating in shared construction:

• the completion date of the work is no more than three years from the date of signing the agreement with the bank;
• the property must be transferred to the borrower no later than 12 months from the date on which permission to put the building into operation was received.

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The land plot that is the subject of the transaction must have an access road accessible at any time.

When applying for a loan secured by real estate, you must provide an application form, a Russian passport, documents on marital status (birth of children), a pension certificate, a bank account statement for the last six months on the amount of the accrued pension or a certificate from the pension fund (another body that transfers funds to lifelong maintenance).

Documents regarding the property must be submitted. The full list is presented here.

List of documents for real estate

Working pensioners submit certificates confirming income (2-NDFL or according to the bank form), work book or employment contract.

If there are additional sources of income - statements, contracts, decisions on the payment of dividends, receipts for payment of taxes on dividends.

Borrowers running private household plots additionally bring:

• certificates of income not related to running a household plot;
• an extract from the Unified State Register for the land plot or a certificate from the household register signed by a representative of the city/settlement administration.

Pensioners who own shares and shares provide:

• copies of constituent documents;
• financial statements;
• an extract from the Unified State Register of Legal Entities or the register of shareholders on the ownership of shares;
• data of the manager and chief accountant.

Mortgage without down payment

It is impossible for a pensioner to take out a mortgage from Rosselkhozbank without depositing his own funds, since this program is valid only for large families whose down payment is maternity capital.

For all other categories, including pensioners, you must provide your own savings of at least 15%.

More about interest rates

The conditions under which mortgages are provided to pensioners at Rosselkhozbank vary depending on the type of housing and the degree of reliability of the client. What matters is the presence of co-borrowers and real estate, and insurance protection against the risk of non-fulfillment of obligations.

The bank offers the most favorable rates when purchasing housing from a developer

Rates for the “Home Mortgage Lending” program

Initial contribution amount:

1. Not < 15% of the cost of an apartment purchased under DKP or DDU; a townhouse with a plot of land purchased under the DCT; when purchasing land.
2. Not <20% for loan amounts greater than RUB 7 million. (except Moscow, Moscow Region and St. Petersburg); when accounting for income from private household plots; when purchasing a townhouse or house under a shared construction agreement.
3. Not < 25% when purchasing a house with a plot (as part of a purchase and sale agreement); when purchasing a plot, if income from private household plots is less than a quarter of total income.
4. Not <30% when purchasing apartments.

Interest rates for “Targeted mortgage”

Rates for “Mortgage on two documents”

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Conditions:

1. The down payment is not <40% of the cost of the apartment, not <50% of the cost of the house, townhouse.
2. The term is until the borrower turns 65 years old.
3. Loan size: 100 thousand - 8 million rubles.

For all programs, 1% is added to the existing rate when the borrower or co-borrowers do not insure life or health.

Refinancing program rates

Conditions: contribution from 100 thousand rubles, the period until the borrower/co-borrower is 65 years old, loan size 100 thousand - 20 million rubles.

Interest for pensioners decreases in proportion to the increase in the amount of the down payment. Pensioners can count on a rate of 13.5-16% if they pay more than half. If a loan is issued for an amount of about 70% of the value of the property, the figure is in the range of 14.5-16%.

Refusal to provide life and real estate insurance excludes the possibility of obtaining favorable conditions. The interest rate increases for direct clients of Rosselkhozbank by 3-3.5% per annum. The procedure can be paid for using credit funds.

Package of documents for pensioners

To apply for a mortgage loan from Rosselkhozbank, you need to collect a package of documents.

Rosselkhozbank requires the client to provide:

• passport with permanent registration,
• a questionnaire filled out according to the bank's form,
• certificate of pension accruals,
• income certificate in form 2-NDFL,
• personal and property insurance contract.

Important! In each individual case, Rosselkhozbank has the right to require additional documents about the client’s personal data and work activities.

The period for consideration of the application from the moment of complete submission of the package of documents is 5 working days. A positive decision is valid for another 3 months from the date of issue. There are no fees for filing or reviewing an application by the bank.

Is it possible to pay off your mortgage early?

Rosselkhozbank allows you to repay part of the amount early or pay 100%. If this is possible, the client writes an application according to the template established by the bank.

Early payments must be made on the day of the monthly payment, which is specified in the agreement. There are no additional fees for the procedure.

The contract establishes a monthly payment date.

The client can choose the repayment method:

1. In equal amounts until the end of the term - then interest is repaid first.
2. Decreasing payments - with this option, the payment at first will be maximum, since interest is charged on the remaining debt.

The monthly payment can be made in cash or non-cash form at branches or ATMs of Rosselkhozbank.

Replenishment of a bank account without commission occurs as follows:

• cash is deposited at the cash desk with the provision of a payment card or indicating its details;
• through ATMs of a credit institution;
• by non-cash transfer from another account opened in this institution;
• transfer from an RSHB debit payment card via an ATM.

The use of cards and terminals of other financial companies to make payments is allowed subject to commission.

The lender allows partial and full early repayment of the mortgage.

Sample applications: partial early repayment, full early repayment.

Application for partial early repayment Application for full early repayment

Early payments are made on the date of the monthly installment under the agreement. No commission is charged.

The lender must be notified in advance of your intention to repay the loan early. Duration: no less than 30 days.

Reviews published on the Internet about Rosselkhozbank contain many negative comments about the actions of employees to remove encumbrances from property after full fulfillment of obligations.

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Package of real estate documents

Depending on the type of real estate purchased, the package of documents required by Rosselkhozbank also changes.

So, for a finished apartment you should present:

• documents of title (certificate of ownership (if any), agreement on the basis of which ownership rights arose),
• identity card of the seller(s) – if the property being purchased belongs to individuals,
• extract from the Unified State Register - to verify the absence of encumbrances, arrests,
• report on the market value of real estate prepared by an independent expert,
• consent of the spouse to pledge the acquired or existing real estate in the case of an officially registered marriage,
• technical or cadastral passport of the object.

At the same time, Rosselkhozbank puts forward the following conditions for obtaining a loan:

• documented ownership of housing by its owners,
• the seller’s holding period for the assets exceeds three years,
• absence of collateral or arrests from government agencies, banks or individuals,
• absence of illegal redevelopment,
• absence of debt on utility bills and taxes in relation to the asset.
• consent of other homeowners and registered persons to transfer real estate as collateral.

To purchase housing in a house under construction, an approximate list of documents from Rosselkhozbank is as follows:

• developer's building permit,
• land lease agreement and extract from the Unified State Register for land,
• real estate project under construction, declaration,
• agreement of share participation or assignment of an apartment,
• notarial consent of the spouse.

In addition, Rosselkhozbank requires complete reliability of the data provided and transparency of real estate transactions.

Thus, it is unacceptable to purchase a mortgage on a house or apartment:

• recognized as emergency housing,
• having wooden floors,
• where plumbing, windows, doors, roofing, etc. are faulty.

Why might a loan be refused?

Sometimes Rosselkhozbank refuses to conclude a loan agreement without explaining the reasons. Among the most common factors preventing extradition are:

• the borrower's age does not meet the bank's criteria,
• the client’s refusal to enter into a personal and property insurance contract,
• the client does not have a co-borrower or immediate family members,
• there are long-term arrears in the past, a recent criminal record of the borrower or his relatives,
• the presence of existing loan obligations, as well as non-payment of taxes and fees to the budget, court decisions,
• the borrower is disabled or has serious illnesses,
• there is no additional property that Rosselkhozbank can take as collateral,
• The pensioner does not have a valid labor income and does not have a Rosselkhozbank pension card.