Experts warn Russians about the risk of overpaying their mortgages fivefold
Experts have warned Russians about the serious overpayment that mortgage loans pose.
The amount that people can pay back over and above what they borrow can be as much as 500%.
RIA Novosti journalists learned about this from real estate experts.
As noted by Tatyana Reshetnikova, Deputy Head of the Mortgage Department of the Etazhi company, on average people prefer to take out a mortgage for a term of 24.4 to 26.8 years (new buildings).
If you do not take into account preferential lending terms, the annual mortgage rate is 19-21%.
The expert gave an example. If you buy an apartment on credit worth 10 million rubles with a down payment of 5 million rubles, then the second half of the amount is taken out as a mortgage.
Taking into account the 20% rate and the mortgage repayment term of 30 years, the overpayment will be 25 million. In this case, the overpayment amount is calculated from the loan amount.
However, there are ways to significantly reduce the amount of overpayment. For example, if the apartment is purchased with a larger down payment than half the cost.
In addition, you can repay the loan early if you increase your monthly payments.
However, this option is not available to many people, admitted Anna Romanenko, director of the communications policy department at Vyberu.ru.
She noted that Muscovites will already have to pay 130 thousand rubles per month for a one-room apartment and 230 thousand rubles on average for a two-room apartment taken out on a mortgage.
