Mortgage co-borrower at Sberbank

Mortgage terms require a certain amount of income. If, when applying for a mortgage at Sberbank, your own income does not meet the specified requirements, then in this situation there is a way out - attracting a co-borrower. This step allows you to distribute financial obligations among all participants in the loan. Who can be in the role of a co-borrower, as well as what requirements apply to the future guarantor, we will analyze in this article.

Questionnaire of the co-borrower and the procedure for its preparation

A housing loan, in which a co-borrower on a mortgage at Sberbank participates, always allows you to take advantage of the most favorable conditions: an increased amount, which is provided at a favorable rate and for a long period. For this reason, Sberbank experts advise getting the support of co-borrowers (no more than 3 people). As a rule, the spouse of the borrower is the co-borrower. But, it can also be a complete stranger. It is important to know that this person is entitled to a share of the property acquired on credit.

Co-borrowers must provide the bank with the required list of documents, similar to the package of documents of the main borrower.

What information do you need to fill in to fill out the form?

A standard mortgage co-borrower application will include the following items:

• Full name, including previous last name (if changed);
• information from the passport;
• address and contact phone numbers;
• marital status, information about close relatives (children and spouses);
• information about education received;
• type of occupation: field of activity, name of the organization, position held, length of service;
• the amount of income (including unconfirmed), as well as general expenses;
• confirmation of payroll in Sberbank - card number;
• description of the property and its value: vehicle (brand, number), house, apartment (address, total area, period of purchase).

Download the application form for a co-borrower for a mortgage loan

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Basic requirements for a co-borrower

A co-borrower on a mortgage at Sberbank must fulfill the obligations specified in the contract, even if he does not claim a part of the real estate purchased on credit. His duties and rights are negotiated before obtaining a loan and are necessarily prescribed in the mortgage agreement.

List of rights and obligations of a co-borrower:

• repay debt when the borrower is unable to do so;
• pay a certain part of monthly contributions (if it is stipulated in the contract);
• get access to use the tax deduction;
• if the co-borrower is not the spouse of the client, then he/she still has the right to a share of the housing purchased by the borrower.

If the support of the co-borrower is no longer required, then you need to get information on how to withdraw it from the mortgage. It should be borne in mind that the procedure for the withdrawal of divorced spouses is quite laborious. It is necessary to simultaneously submit applications from the borrower and his co-borrower about the desire to release the latter from fulfilling obligations to repay the debt. When the solvency of the borrower is not too high, then the total balance of the debt can be recalculated.

The general requirements for a co-borrower on a mortgage at Sberbank do not imply too strict restrictions. They provide for the same age restrictions as for the applicant himself.

What documents are required for this?

The credit manager will study not only the submitted 2-NDFL certificates, but also other certificates that confirm that the guarantor has an additional source of income. A conversation is held with each involved guarantor, after which the bank employee will make the final verdict on the applicant.

Detailed information about mortgage loans is presented in the video review.