Rosselkhozbank mortgage for pensioners in 2020: conditions, interest rate up to 75 years

The financial institution RSHB is one of the largest among its kind, implementing a variety of profitable lending programs. Among numerous products, mortgage loans are in demand. Such loans are intended for any citizens who wish; pensioners can get a mortgage from Rosselkhozbank.

Among the main programs aimed at purchasing a residential property, pension offers are very popular. Elderly people have the right to apply and obtain a housing loan subject to the established rules and conditions for profitable lending.

Terms of service

The main feature of mortgages at the Russian Agricultural Bank is that there are no so-called special offers for pensioners. Loans are issued to all clients according to the same rules.

A mortgage can be approved for the purchase of:

apartments (in a new building or secondary housing stock),
apartments,
real estate outside the city,
object with unfinished construction,
a piece of land or rights to it.

In addition to the intended purpose of the mortgage, Rosselkhozbank sets additional conditions:

loan amount from 100 thousand to 20 million rubles,
debt repayment period up to 30 years,
the client’s wife/husband automatically becomes a co-borrower,
the purchased living space becomes collateral,
property insurance is mandatory,
down payment is the main condition.

The amount of the contribution depends on the type of property being purchased:

for a plot of land for construction – 15%,
for an apartment in a secondary housing stock – 20%,
for apartments – 30%.

A decision on the application will be made within 5 working days.

Mortgage calculator

A mortgage calculator is a standard program that is needed to assess the status of cash payments. The service helps you independently determine the profitability and feasibility of lending. A citizen will understand how beneficial a loan is in this situation. In addition, it will assess all financial risks. The following information is used to determine data:

the full amount of the property being purchased;
duration of the loan agreement;
possible additional interest and commissions;
debt elimination plan.

Please fill out all fields to get accurate information. Now, the system will provide a payment schedule.

The best mortgage programs for retirees

An advantageous offer for a mortgage from Rosselkhozbank is the possibility of reducing the interest rate and repayment period.

When making a contribution of 30% or more, the rate will be:

14.5% – 5 years,
15% – 10 years,
15.5% – 20 years,
16% – 30 years.

When making a contribution of 50% or more, the rate will be:

13.5% – 5 years,
14% – 10 years,
14.5% – 20 years,
15% – 30 years.

As can be seen from the statistics, it is most profitable to take out a mortgage with a large down payment.

How to calculate a mortgage

Before going to the bank, a potential borrower needs to carefully assess their capabilities in order to avoid loan arrears. You can calculate your approximate monthly payments using our loan calculator.

To obtain the information you are interested in, you must fill out a special form in which you indicate:

Loan amount;
Repayment period for borrowed funds;
Payment type;
Date of issue.

After this, the system will automatically draw up an approximate payment schedule indicating monthly installments and the total amount of overpayment on the loan.

List of registration documents

The standard package of documents is:

passport of a Russian citizen with a registration mark,
marriage certificate (if registered),
birth certificates of minor children (if any),
a copy of the work book,
income certificate,
application form.

In addition, additional documents are required for the property provided as collateral.

When purchasing an apartment (on the secondary market), a private house with a plot, or just a plot of land, the following is required:

certificate confirming ownership of property,
extract from the Unified State Register of Rights,
conclusion of an appraiser on the value of real estate,
certificate of family composition with an extract from the house register,
consent of all owners of living space to transfer real estate on security (certified by a notary),
cadastral passport from the BTI.

When purchasing a share in construction or purchasing an apartment in a new building, the following is required:

certificate confirming ownership of property;
extract from the Unified State Register of Rights;
permission to carry out construction activities;
documents describing the legal actions of the developer;
project of a future finished construction project;
an agreement confirming participation in shared construction;
consent of all those registered for the transfer of real estate on security (certified by a notary).

When purchasing a plot of land for the construction of a private house, the following is required:

certificate confirming ownership of property,
extract from the Unified State Register of Rights,
cadastral passport from BTI,
estimate for the entire construction period and site plan,
contract approved by the contractor.

Mortgage at Rosselkhozbank for pensioners in 2020

Any pensioner has the right to receive a favorable housing loan if the conditions established by the institution are met. Among them, it is necessary to note the package of required documents:

Russian passport with mandatory permanent registration in the region where the application is submitted;
A properly completed application in the form of a completed questionnaire indicating personal information;
Document – 2 personal income tax on the amount of income received;
Papers on real estate and objects provided as collateral;
Insurance of real estate.

Other papers designated by the bank on a special individual basis may be required. The package is determined strictly after consideration of the client's candidacy.

Instructions for registration

Step-by-step instructions for applying for a mortgage loan.

Carefully study the bank's offer.
Collection of necessary documentation.
Submitting an application to the lending committee.
Familiarization with the solution.
Endorsement of the preliminary purchase and sale agreement.
Signing a loan agreement.
Registration of insurance.
Making a down payment.
Registration of a transaction with the MFC on the imposition of litigation on the purchased property.
Transfer of the remaining amount.

Reviews

Vitalina, 62 years old : “Immediately after my official retirement, I thought about buying a small house in a village not far from the city. I chose a good village and, having looked for housing there, contacted Rosselkhozbank to get a mortgage. The check was very thorough, but nevertheless my candidacy was approved, because, in addition to the pension, I also have accruals from the family business, which is now managed by the children. My daughter’s husband acted as a guarantor, and they willingly gave me a mortgage. Now I have my dream home!”

Sergei, 58 years old : “I am a military pensioner, however, during my years of service I did not take advantage of the right to purchase my own home with a mortgage. 5 years ago, friends told me that they were taking out a loan using funds from the military savings mortgage system. My wife and I consulted and decided to expand our living space a little. Rosselkhozbank issued a mortgage without any problems, and the funds from the sale of the old apartment were enough for half of the new one, and additionally they used mortgage money. The interest and the down payment were covered by the state, so there is very little time left to pay.”

Why they might refuse

Rosselkhozbank may refuse to provide a loan to a borrower, arguing for the following reasons:

no relatives;
non-compliance with bank requirements;
has a criminal record;
refusal of compulsory insurance;
low level of solvency;
there is no property that can be left as collateral;
damaged credit history;
incomplete package of documents;
the client is disabled.

Each application is considered individually.

Requirements

Rosselkhozbank provides a list of requirements to all clients. Special attention is paid to elderly people. The bank faces many risks when issuing funds to such applicants. Main conditions:

At the time of full repayment of the debt, the client’s age must not exceed 75 years.
The applicant must be a permanent resident of Russia.
At the same time, have citizenship of the Russian Federation.
The client must have additional income in addition to the pension.
Adding guarantors. This person is not necessarily a close relative. The main thing is that he is solvent. Certificates are required for confirmation.
The Applicant does not have any negative credit experience. The last few decades are taken into account.

In addition, special conditions apply to real estate. In particular:

living space is not an element of any collateral;
the apartment was owned by the previous owner for about 3 years;
there are no debts to utility services;
the property is not subject to court cases and is not seized;
The block is sold with the consent of all owners.

What to do in case of refusal

Expert opinion

Kochetov Vladimir Viktorovich

Leading specialist in finance. 23 years of experience in a large bank in Moscow. Specialization: loans, mortgages, refinancing.

Ask a Question

Depending on the reason for the refusal, the client can correct the situation. For example, if not all documents have been provided, it is easy to bring the missing ones. Correct your bad credit history by paying off your debt.

Categories of pensioners receiving a mortgage

The bank assesses the level and degree of solvency of a pensioner in the same way as other potential borrowers. There are several main categories of pensioners. Banks issue them a mortgage loan much faster and more willingly. Here are the most basic of them:

Married couples. Banks are issuing housing loans to married couples much faster. The reason is that such people are wealthier and more secure. The optimal advantage is to attract several solvent clients as borrowers.
Working pensioners. Currently, there are quite a lot of working pensioners who work at 70 and 80 years old. If older people have a decent regular income, the bank will consider them as potential borrowers much more willingly.
Pensioners with property. If collateral is provided for the mortgage, you can obtain a fairly large loan amount on favorable terms for the borrower.
Pensioners with a positive history of early lending have a much better chance of applying for and receiving a mortgage loan.

Pensioners who are able to invite a co-borrower deserve special attention. This capacity is played not only by the spouse, but by a relative or close friend, that is, there is no need for mandatory family ties between relatives. It is necessary to ensure that the invited co-borrowers are capable, solvent and preferably employed.

What should the property be like?

The property should not be listed as collateral or have restrictions on its use. The requirement for the seller is to be its owner for 3 or more years, have appropriate documentary evidence, and pay for all utilities.

Housing should not:

Stand on the register for major repairs or in line for demolition.
Have redevelopment that is not approved by law.
Be subject to legal proceedings with possible appeal.

In a situation where several persons have ownership rights, a mortgage is possible only when each of them agrees to the transaction. The property must have a minimum percentage of physical wear and tear, no structural defects, with properly functioning engineering systems, and an area allocated for a kitchen and sanitary facility.

The terms of the program allow you to design residential buildings with concrete, stone or brick foundations and load-bearing structures made of similar materials.

Programs and interest rates

Rosselkhozbank offers 2 mortgage programs for pensioners, an important condition of which is an increase in the rate when refusing life insurance.

Program	Bid	Sum	Term
Mortgage	from 8.85%	up to 60,000,000 rub.	up to 30 years old
Target mortgage with housing collateral	from 9.05%	up to 20,000,000 rubles, but not more than 70% of the value of the mortgaged property	up to 30 years old

How to make a monthly payment

Both cash and non-cash forms of payment are accepted. To make a payment there are 2 main options:

visit the organization’s office;
use the Rosselkhozbank ATM.

In the first case, the mortgage is paid when cash is transferred to the cash desk; pensioners need to present a payment card or inform the employee of its details.

You can do everything yourself through the organization’s ATMs. Another option is to send money using a debit card. If the client has an account opened with Rosselkhozbank, the required payment is made through the online service in a few clicks.

Important: if it is more convenient for a pensioner to use cards and terminals of other banks, an additional commission is charged.

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.

Pensioners need to remember that if they want to pay off their mortgage early, they should notify bank employees in advance (at least a month in advance).

Pension loan

Those wishing to obtain a mortgage for pensioners under 75 years of age without guarantors at Rosselkhozbank should remember that such offers do not currently exist. But there is a special pension loan that allows you to receive money for any needs up to 75 years of age.

According to its main provisions, borrowers are able to:

qualify for up to 500 thousand rubles (minimum 10 thousand);
pay off the credit institution within 7 years;
do not worry about the fact that they go to the bank without guarantors and collateral;
expect an interest rate of 11.5%.

It is important to mention that this proposal only affects pensioners. In this case, the reason for receiving the pension does not matter. But it is extremely important to provide the RSHB employees with a document confirming the fact that the client is indeed a pensioner. It is pointless to count on approval of an application without such documents.

Who is exempt from having to pay a down payment?

The right not to pay a down payment applies only to large families. In this case, the mandatory procedure for contributing a portion of the total amount of the property may occur when maternity capital is included in the transaction.

Pensioners who do not belong to this category must pay from 100,000.