Many life circumstances push citizens to obtain loans from various financial organizations. Most often, such situations arise when you need to get a large amount of money to purchase real estate or a car, but you can’t save. And so, when the loan is issued, the purchase is made and nothing portends trouble, situations may arise that dramatically change the financial situation. To facilitate the payment of their debt obligations to citizens, banks provide for the possibility of refinancing.
What is it and where to get it
Refinancing is a refinancing in another or the same bank, but on more favorable, revised terms. For this, the new bank completely closes the citizen's debt obligations at its own expense, and in exchange enters into a loan agreement with him on his own terms. 
Is it possible to refinance a mortgage of Sberbank in Sberbank? At the moment, no, because it is a financial institution and so provides its customers with the most favorable conditions. But such a procedure can be carried out with a loan, for example, at the Rosselkhozbank, which allows its customers to change the terms of the transaction.
So, a lot of organizations today offer lending services, but the most popular and trusted citizens are Sberbank, VTB and Rosselkhozbank (the latter is currently the leader in mortgage lending).
Program benefits
Before you ask yourself whether it is possible to refinance your mortgage, you should understand the main advantages and disadvantages of this program.
So, the main advantage is that you do not need to ask permission from the bank with which you have an agreement to refinance. Also, when applying for a new loan, there are no commissions, the client is invited to reduce the debt repayment period, monthly payments, lower the interest rate, and at the same time also receive an additional amount of money for their own expenses without specifying a purpose. A client can also issue only one loan in a new bank, paying off several loans of other organizations at once.
Given all these conditions, is it possible to refinance a mortgage without fear? Sure you may. The drawbacks of such a program is considered to be only a large package of necessary documents, but if at the same time you have to give a lot less “of their own money”, then why not.
General rules
At any credit institution, when applying for a refinancing, the amount will be issued in national currency. A general rule is that the amount issued may not exceed 80% of the value of the collateral. The registration process itself is a regular loan, only with the additional provision of certain securities. The maximum loan amount depends on the region of residence. So, in the metropolitan region and St. Petersburg, it will reach 30 million, and in some it will not exceed 5 million. The loan term can reach 30 years, and the interest rate depends on the chosen organization and, of course, on the loan term (the higher it is, the higher the percentage).
Customer requirements
In almost all banks, the on-lending service is offered to customers from 22 to 65 years old (for women, the age is reduced to 60 years). Is it possible to refinance a mortgage in Sberbank to older clients? Yes, in this case, the largest organization is superior to its competitors by providing similar services to citizens from 21 to 75 years old.
The general requirements are the need for continuous work experience the last six months before applying at one workplace, the total work experience over the past 5 years should be 1-3 years. If necessary, you can attract co-borrowers. Is it possible to refinance a mortgage at VTB 24 to non-residents? In this case, it is impossible, the bank provides similar services only to citizens of the Russian Federation, but with a similar desire, you can easily contact Sberbank.
Refinancing loan requirements
Before deciding whether it is possible to refinance a mortgage with another bank, it is necessary to take into account that credit organizations also put forward certain requirements for an existing loan. So, it is impossible to refinance a debt if the contract was concluded earlier than 6 months ago, or if its validity expires after 3 months. In such cases, the bank will definitely refuse, so you should not even waste time preparing documents.
There is a danger of refusal if there are delays in the payment of existing debt. All payments must be made in a timely manner, and if there was a debt, then another year of serviceable payments should pass after it, only then the bank will encourage the application.
Also, the reasons for the refusal may be low customer income, poor credit history or failure to provide data on at least one loan available for the entire time.
Preparation of documents
It is necessary to collect a certain package of documents in order to refinance a mortgage taken at Sberbank. Is it possible to compare sets of required securities in different credit organizations? Basically, yes, all documents are required to be identical, only taking into account some features of the loan conditions, they can change. So, for example, non-residents of the country are invited to refinance a mortgage only at Sberbank. Is it possible to do this with a passport? Of course not, the client will also have to provide a certificate of temporary registration.
Without taking into account such features, everyone should prepare documents proving their own identity, the identities of the co-borrowers, if any. It is also necessary to fill out an application in the form of a bank (or free), fill out a form, indicating in it all personal data and information about the collateral.
Income certificates, copies of the work book with the employer's wet stamps, insurance certificate, men up to 27 years of age need a military ID (or registration), as well as all documents under a valid loan agreement:
- maturity date;
- balance amount;
- interest rate;
- amount of monthly payment;
- loan agreement number;
- certificate of the absence of fines and delinquencies.
Such information can be obtained by extract from the creditor bank, the main thing is that no more than 1 month should pass from the moment of its issuance.
Many are interested in the question: is it possible to refinance a military mortgage? At the moment, no banks provide such a service, since the state bears the obligation to repay it. In this case, there is a way out only when a soldier with a valid loan quits the service and automatically becomes a civilian, having the opportunity to review his loan conditions.
Individual characteristics
In order to re-lend Sberbank mortgage to another financial institution, some of their features should be taken into account. For example, in the Sberbank itself, information about the family can be indicated in a special form, and for other organizations, certificates on the composition of the family, birth certificates of children, and so on will be required.
In addition, you can not refinance a mortgage of Sberbank in Sberbank. Is it possible to do a similar action in VTB? Unfortunately, not either, but Rosselkhozbank provides its service to its customers.
Procedure
Before answering whether it is possible to refinance a mortgage at VTB Bank, you should submit an application to it and wait for the decision of the bank commission.The duration of this period can be up to 10 days, but often does not take more than 1 week. Only after obtaining approval is it worth starting the collection of other documents, the verification of which then will also take time. After the finalization of the verification process, the client is given a sum of money that he must spend to pay off the debt at another organization, and provide the bank with a certificate from the new lender about it.
Collateral Requirements
Certain conditions are also put forward for collateral if the VTB mortgage is refinanced in the future. Is it possible to use other property as collateral for this? Yes, but with certain nuances. So, real estate must be put into operation, not have any burdens. Ownership of the property should be held only by the client.
Re-lending to VTB
Refinancing in this case, as in Sberbank, can only be made on loans previously taken at other financial institutions. The benefit in this case is noticeable, especially for those customers who previously issued loans in foreign currency and now have suffered greatly due to the exchange rate. 
A review of the interest and the amount of monthly payments will allow you to get a new loan, which will be even more profitable than the current agreement with Sberbank. This, in fact, is a rarity, because this organization offers the most favorable conditions.
In this case, you can refinance loans for secondary housing, new buildings, private homes and cars. If necessary, you can combine several old ones, even taken in different financial organizations, under one new loan. It is important to note that for a loan in just two documents, the amount issued from the collateral will be only half.
Revision of conditions in your own bank
Can I refinance a mortgage in my bank? If you are a customer of Rosselkhozbank, then you can. For this, the client must also first file an appropriate application with the organization, have Russian citizenship, permanent registration, work experience and age, as in previous cases. For owners of personal subsidiary plots, an up-to-date certificate from the farm register will also be required.
An important distinguishing feature of such lending is the need to provide guarantors or co-borrowers. As them can be relatives or friends (optional). If the client is married without concluding a prenuptial agreement, then the other half will automatically act as a co-borrower.
Similar requirements are also put forward for the loan in the absence of delinquencies and the terms of its validity, the main thing is that the loan (or several loans, if there is a need to refinance more than one loan) has never been restructured before.
Tips and conclusion
From the foregoing, we can conclude that refinancing any loan in another or the same bank is the same lending, only on more loyal terms. Of course, for them, the client will have to “sweat”, collecting a bunch of documents and certificates, but the result is worth it, because the material benefit is obvious. For young families who have a child during the old loan, it becomes possible to use maternity capital to pay part of the debt, because the program “Young Family” will also function in this case.
Is it possible to refinance a mortgage at Rosselkhozbank on the most favorable terms? Despite the fact that the bank is the leader in the number of loans issued, not everyone can find the best one among its offers. To really get the benefit, you should look for an offer with an interest rate lower than the current one by 2-3%. Also, a loan should be issued only for the amount necessary to repay the previous loan, otherwise additional money will entail an increase in the size of payments and there will be no benefit.
Despite the tempting proposals for on-lending from various organizations, it is possible to reduce the overpayment of the principal debt in reality only by carrying out a similar procedure no more than once every 5 years. If, however, even less is left before the end of the contract, it does not make sense to start such a red tape at all, as there will be no tangible benefits at all. Well, of course, you should take into account all the individual characteristics of the financial situation in order to understand how much refinancing will facilitate future life.
