How many days does VTB consider a mortgage application?

After submitting an application for a mortgage at VTB 24, the most exciting period begins - waiting for the bank’s decision. The time it takes to make a decision depends on many factors, but if the borrower has a positive credit history and stable income, there should be no problems. Experts recommend contacting the bank with a pre-selected property. This will make it possible not only to speed up the procedure, but also to receive preliminary consultation regarding the compliance of the selected housing with the bank’s requirements.

What can affect the bank's consent?

Content

When issuing loans, banks carefully select applicants and approve loans only to solvent citizens. The goal of a financial institution is not just to get your money back, but also to make money.

The period for consideration of the application by VTB 24 and the final decision of the bank is affected by:

• the type of real estate chosen for purchase - the bank is not interested in the value indicated in the purchase and sale agreement, but in the real market price of the property. The more liquid the property (the one that can be sold quickly and profitably), the higher the likelihood of getting “real” money for it;
• The age of the borrower must not exceed the threshold at the time of repayment of the mortgage; as a rule, it is equal to the pension age and is equal to 55 years for women and 60 years for men (in 2018). The exception is military pensioners. The minimum age at VTB is 24 – 21 years;
• work experience - the bank must be confident in the stability of the borrower;
• marital status - borrowers with children can count on government support and use it to partially repay the debt;
• the use of maternity capital or other government support measures as a guarantee of solvency;
• the amount of the down payment - the larger this amount, the more likely it is to get approval;
• The region of residence of the borrower is taken into account to calculate the amount that should remain in the family after paying off the loan obligation (at least one subsistence minimum for each family member). Each region has its own cost of living for different categories of the population.

To increase the likelihood of receiving a mortgage loan, a potential borrower, in addition to the main package of documents, can provide other documents.

Required documents

The main package of documents includes an application, a questionnaire, as well as originals and certified copies:

• Russian Federation passports;
• work book;
• 2-NDFL certificates.

If salary certificates and employment contracts are drawn up in free form, it may take more time to verify them.

An additional package of documents may include:

• education diplomas;
• information about additional sources of income, for example, deposits or rental housing;

The process of purchasing a home using loans from VTB 24 Bank may also depend on the chosen mortgage program:

• housing in a new building or on the secondary market;
• lending for the purchase of a large apartment;
• secured by other real estate;
• mortgage loan refinancing;
• preferential mortgage lending with government support;
• housing for military personnel;
• acquisition of collateral real estate owned by the bank.

Each program has its own nuances that need to be considered together with the loan officer.

Important to remember!

All documents and certificates have a validity period, so Form No. 9 (certificate of registration in residential premises) is valid for 10 days, a certificate of income is valid from 10 to 30 days, a document from the Pension Fund is valid for 30 days.

Mortgage online at Sberbank: submit an application

Using the official website, the bank offers the future borrower a preliminary assessment of their creditworthiness. A loan calculator located on a special page is designed for this purpose. It’s easy to work with: mark the purpose of receiving the loan, enter the desired loan amount and term.

The program carries out a calculation, the result of which will be the volume of monthly loan repayment: the “body” of the loan and the interest for use. This is the amount that will have to be taken out of the family budget every month in order to pay off the bank. Having assessed the financial capabilities, the client can proceed to the next stage - submitting an online application.

An online mortgage at Sberbank by unregistered clients is issued in two stages:

• initial registration in Sberbank-online is performed;
• submitting an application online for a loan.

For initial registration, provide a minimum of information: last name, first name, patronymic, mobile phone number, email address. When you select the “Register” command, an SMS with a password is sent to your mobile device for confirmation. If the actions are performed correctly and confirmed, the user becomes registered with a “Personal Account” in Sberbank Online.

The next step is to submit an application for a loan. In the Main Menu, select the appropriate tab and fill out the form that opens. Some of the positions in it have already been filled, but you need to enter reliable information about your place of work, the amount of monthly income, the desired loan amount, select the Sberbank mortgage program, attach scans or photos of documents. Read about the requirements for completing documents for a mortgage online in another article on our website.

The sent document is assigned the status “processing” in the system. Perhaps a call center operator will contact the future borrower to clarify some information. After 2-3 days, the client will receive the result, whether the loan application is approved or rejected: it will be assigned the appropriate status online.

Recommended article: Which apartment can you get a mortgage

Applying for a mortgage online at Sberbank is simple and straightforward, accessible to a person with minimal computer skills.

How long does it take to get approved for a mortgage at VTB 24?

The timing of consideration of an application for a mortgage loan is very important for the borrower, since delays in processing time may cause refusal by the seller of the property.

The maximum period for which applications for a mortgage are considered can be up to 10 working days; usually VTB 24 Bank makes a decision in 1-5 days (except weekends and holidays). It depends on the following factors:

• whether the borrower has been serviced by this bank before;
• whether there are open accounts in a financial institution, participation in a salary project;
• borrower's credit history;
• the nature of the documents provided to the bank;
• attracted co-borrowers and guarantors.

When choosing a financial institution, clients take into account the following facts:

• interest rate;
• lending terms;
• How long does VTB 24 bank consider an application for a mortgage?

To ensure that the period during which a mortgage application is considered is minimal, care must be taken to ensure that all documents are as correct and truthful as possible. Bank employees conduct a thorough check of all data, make calls to the place of work and guarantors. All received data is analyzed by a credit inspector, who makes a conclusion about the client’s reliability.

Stage 2. Final approval

Here, a personal visit to the bank is mandatory; a specialist will accept your package of documents and check their authenticity and relevance. How long does it take to process a mortgage application at VTB at the stage of studying all the documents?

Recommended article: Mortgage for a young family under the state program in 2021

The bank will do a full check and analysis of your data. The final decision takes 3-5 days - this is what the bank promises. But how long does it actually take to get a mortgage approved at VTB? Often the period can be seriously delayed if some problems arise. Let's understand the nuances of the process.

What does the bank check?

The bank checks the borrower in several areas. The bank's credit and legal services and security services participate in the verification. What's important:

• An important point in the VTB mortgage approval status is the state of the applicant’s credit history (CI). If the CI check during scoring was successful, then the bank specialist will additionally check the presence and nature of delinquencies and other parameters of previous loans;
• information about the applicant’s income for the last six months (), as well as the existence of obligations to confirm income and expenses, are very carefully checked;
• the bank can make requests to the Pension Fund, the Migration Service, the Tax Service, the Bailiff Service (data on writs of execution and unpaid fines);
• The bank's security service uses special customer databases to check the borrower's data, the accuracy of income certificates (), information about the employer, the borrower's criminal record, information about the seizure of accounts, and others.

A thorough check may take up to 10 days, and if errors or inaccurate data occur, the period may be significantly delayed. Therefore, there is no clear answer to the question - how long does VTB Bank consider an application for a mortgage?

Why is a long review possible?

The bank assures that the decision will be ready in 3-5 working days, but most often this period is longer and can take 3-4 weeks.

Why does VTB take a long time to consider a mortgage application:

• depends on the client's status. It takes literally one or two days for a salary client to be approved, since the bank knows his income and reliability. For other clients, the scope of the review can significantly increase the time required to prepare a solution;
• The approval period may be extended for clients wishing to receive a loan of more than 500,000 rubles. There will be additional checks here;
• the deadline may also be delayed for applicants who use the services of appraisers or insurers not accredited by the bank;
• The type and quality of the documents submitted are important. If there are expired certificates, incorrect data, errors or typos in documents, this can lead not only to an increase in the decision period, but even to a refusal (the validity period of mortgage certificates is in another article);
• the already mentioned credit history of the borrower will also seriously affect the approval period;
• The purchase of real estate in another locality may also affect the approval period.

The difference in approval times also depends on the chosen mortgage program.

The borrower can receive approval within 24 hours if he chooses an exclusive program based on two documents Victory over formalities.

How to find out the status of an application for a VTB mortgage

The standard response option from the bank is an SMS message to the phone number you specified when filling out the application form. If the solution is ready, the client will know about it immediately.

But if within a week you have not received a decision on your application from the bank, it’s time to act and find out the status of your VTB mortgage application yourself. What options exist here:

Recommended article: Sberbank again issues rural mortgages

• you can call the bank's phone number 8-800-700-24-10;
• leave a request to customer support. The application form can be found on the website;
• you can call the manager who helped you fill out the form (if you have his phone number);
• Log in to VTB Online Internet banking. You can enter your login and password, go to your personal account and there you can see if the solution has come to the specialists.

The answers to the question - how long does VTB consider an application for a mortgage - are interesting in customer reviews on social networks and forums. Opinions, of course, are different, but many are dissatisfied with the long wait.

Deadlines for re-submitting a mortgage application (if your application is rejected)

If you receive a refusal from VTB on your mortgage application, do not despair. The attempt can be repeated, but when? And how many days does VTB review the mortgage application again? This usually takes about the same time or a little less (if there are fewer checks).

The bank has set a deadline for re-application. After refusal, the client has the right to re-apply for a VTB mortgage after 90 calendar days.

Do I need to reapply?

You may be lucky and the bank will change its credit policy during this period.

Let's give an example . The bank refused you a mortgage because you were in arrears on your previous loan. A little later, the bank changes its credit policy, and a small delay in the previous loan becomes acceptable. And when you resubmit your application after 90 days (even without changing or improving anything), it may be approved, since your slight delay is already acceptable. But this is a happy accident.

How to increase your chances of approval

In general, banks are not obliged to explain the reasons for refusal and usually do not try to do so (). The borrower can only try to understand what exactly led to the refusal.

The following actions are usually recommended to increase the likelihood of mortgage approval at VTB:

• improve your credit history. For example, take out small microloans several times and carefully pay them off;
• attract guarantors, co-borrowers with a high stable income;
• provide documents confirming the client’s additional income;
• increase income (basic salary or additional income).

If you have not found the reasons, you do not understand why you received a refusal, you can turn to the services of credit brokers.

If you are refused again, you can contact another bank, since banks have different credit policies.

How will the institution communicate its decision?

When the consideration of the possibility of issuing a mortgage is completed and a decision on a specific application is made, a bank employee makes a personal telephone call to the applicant. If the client indicated in the questionnaire another method of notification: an SMS message or an e-mail, then the bank’s decision will be reported in this way.

After receiving the notification, the borrower must come to the bank branch to obtain more detailed information about:

• loan term;
• interest rate:
• loan size.

If a citizen is a client of VTB-24 bank, then he must have a personal account on the VTB24 online website. It will not be difficult to obtain information about the bank’s decision in your account.

If the bank does not get in touch for a long time and is delaying deadlines, you can call the hotline back or visit the branch yourself. A possible reason for the delay may be the high workload of bank employees.

List of the most frequent positive reviews

• Many clients thank bank employees for excellent service .
• For some VTB 24 mortgage holders, bank employees really help out in a difficult situation.
• In case of any problem (see below negative reviews about a mortgage loan from VTB), the bank sometimes surprisingly quickly resolves the issue . True, only some lucky people are lucky, and only if they start calling on the banki.ru website.
• In some cases, clients praise the speed of document processing and individual approach .

A typical positive response about VTB mortgages looks something like this (dated January 29, 2021):

The user was full of gratitude for the courtesy of the employees (emoticons included)

How long does mortgage approval last?

Many clients are interested in how long a mortgage approval received from VTB 24 is valid. This information is important for borrowers, since they need to have time to select a suitable property and determine their financial capabilities. In various financial institutions operating in the Russian Federation, this period ranges from 60 to 120 calendar days.

The validity period of a mortgage decision at VTB 24 is 120 days. During this period, the borrower must decide whether he will use borrowed funds from a specific bank to purchase square meters. The decision to issue a loan at VTB is made within 3-4 days, and to refer a credit expert to a consultation, you need to fill out a form on the financial institution’s website.

If the borrower changes his decision regarding raising mortgage funds, or finds more favorable lending conditions in another bank, he can cancel his application.

We take into account the nuances: what will improve mortgage conditions

Both banks, in the fight for clients, offer various programs to improve mortgage conditions. Some are guaranteed by the state: the use of maternity capital funds for a down payment, assistance to young families, military mortgages.

Recommended article: B&N Bank mortgage: on what conditions does the bank lend?

Banks have also proposed their own approaches that improve clients’ positions. We invite you to compare.

Not all of the listed factors will be taken into account when submitting an application remotely; the final decision will be made after submitting the necessary documents.

“New Building” program – goals and objects of lending, requirements, rates

The bank has accredited more than 10,000 objects in new buildings. By cooperating with the bank’s partners, the client can receive a loan on loyal terms.

Lending for the purchase of housing in new buildings is carried out on the following conditions:

• the loan amount ranges from 600,000 to 60 million rubles;
• lending rate – 9.1%
• repayment period up to 30 years;
• advance payment – ​​10% of the property value;
• registration of a comprehensive insurance policy.

To participate in the New Building program, the borrower must meet the following requirements:

• there is no need to confirm registration at the place of application for a loan;
• It is possible to attach several forms of income confirmation to the application;
• the ability to attract up to 4 co-borrowers, taking into account the income of each;
• review of income certificates from several places of employment.

As part of the program for providing loans for the purchase of apartments in new buildings, the bank has developed such loan offers as “Victory over formalities” and “the larger the apartment, the more profitable.”

What documents are needed to obtain?

Depending on the mortgage program you choose, different documents may be required. But basically the list of required papers is as follows:

• Identity document.
• Application for a mortgage.
  It can be filled out either at a bank branch or at home. The application form can be printed from the official VTB 24 website.
• A copy of the work book with a record of total work experience of more than a year and work experience at the last job of at least 6 months.
  To obtain a mortgage under the “Victory over formalities” program, a copy of your work record is not required.
• Certificate in form 2-NDFL confirming income.
• Marriage certificate and notarized consent of the spouse to purchase real estate with a mortgage for a married borrower.
• A document that confirms the availability of funds to make a down payment. This document can be:
  income certificate;
• check for renting a safe deposit box;
• account statement;
• maternity capital certificate.
• Military ID for Russian men under 27 years of age.
• Certificate from a psychoneurological and drug addiction clinic. Required if the bank has suspicions regarding the legal capacity and sanity of the borrower.

Who can take out a mortgage loan?

The categories of borrowers who can take out a mortgage for an apartment from a bank include both citizens of the Russian Federation and persons with foreign citizenship. It is important that they work on the territory of the Russian Federation or (only for citizens of the Russian Federation) in branches of transnational companies abroad.

List of requirements for the borrower that affect the approval of a mortgage for an apartment in VTB 24:

1. The borrower's age is 21–60/65 years (women/men).
2. The borrower must have at least a high school education.
3. The borrower's work experience must be at least 1 year. He must work at his last job for at least six months. Documentary proof of experience is required.
4. Having a stable income to pay the mortgage.
   Confirmation must be documented. Documentary evidence of the client's solvency can be a certificate of income or a bank account statement.
5. The borrower must have a good credit history with no overdue payments to other financial institutions.
6. The borrower should not belong to categories of citizens protected by the state (disabled people, war children, veterans, etc.), since the bank will not be able to quickly discharge residents and sell living space in case of non-payment.