What documents are needed for a mortgage for construction. Do you give a mortgage for building a house? Mortgage loan secured by existing real estate: the main purposes of obtaining

PJSC "Sberbank of Russia" is one of the few credit organizations where you can get a loan for the construction of an individual residential building, and almost the only one that confirms applications for loans for the construction of houses from a bar. In any case, the provision of loans for construction is rather risky for the bank. Therefore, in order to make a decision on the provision of payment, the applicant is comprehensively strictly checked, and serious pledges will be required to confirm the seriousness of his intentions.

Due to banking instability in the winter of 2014-2015. many banks have curtailed their lending programs for private housing construction, since this type of lending is the most risky for banks due to the possibility of unfinished construction.

Sberbank resumed issuing loans for individual construction in May 2015 and plans to continue this practice in 2017. According to the terms of the bank:

• a mortgage loan can be provided for a period of 1 to 30 years at 12.5 ... 13.5% per annum and more (as of 12/30/2016);
• the first installment is limited ( not less than 25% of the required amount) and the age of the borrower;
• traditionally, the most favorable conditions are provided for applicants who get paid through Sberbank;
• the loan can be partially repaid at the expense of maternity capital or a state certificate under the "Young Family" program.

Taking into account the maximum loan term for mortgage for the construction of a house from Sberbank(up to 30 years) and the moderate cost of construction services and building materials in the regions, such a loan can be paid with fairly easy payments.

Mortgage conditions for the construction of a private house in Sberbank in 2017

The loan product of Sberbank has an indisputable advantage - low annual interest that the borrower will have to pay for using the borrowed money. In 2017, the minimum interest for using a loan is 12.50%. Besides this benefit, there are others:

• There are no commissions for considering an application, servicing a loan.
• There are no early payment penalties.
• This loan can be paid in part at the expense of maternity capital or funds allocated under the state program housing for young families.
• Each application is considered individually.
• The loan is repaid monthly in equal (annuity) payments.
• Favorable conditions for those whose salary cards are issued by Sberbank. And also for borrowers whose employer company is accredited with the bank.
• To maximize the amount of the loan received, you can attract co-borrowers.
• It is most profitable to invest the borrowed money in a house that is being built by a company credited by Sberbank.
• For the amount of interest on a loan in the Federal Tax Service, you can issue tax deduction in the amount of 13% of all paid interest.

A feature of Sberbank is the ability to arrange a deferred payment of the principal debt for a period of up to 3 years. That is, in the first years, the borrower will pay only interest. This is often very convenient, because during the construction process, additional and unforeseen expenses constantly arise.

On what conditions can I take out a loan for building a house in Sberbank

In 2017, you can borrow money from a bank for the needs of the construction of individual housing only in rubles... (for obvious reasons, loans in dollars and euros are no longer issued). The mortgage lending program is target... That is, a mortgage in Sberbank for the construction of a private house cannot be spent for any other purpose.

The borrower can count on the following conditions:

• Minimum loan amount - from 300,000 rubles, loan terms - from 1 to 30 years old.
• The maximum amount is no more than 75% of the estimated value of the future private house or 75% of the value of the collateralized object (at a lesser amount).
• Second part in size not less than 25% must be paid as a down payment.
• The age of the client who wants to get a loan is at least 21 years old. The loan repayment period is calculated based on the fact that at the end of the planned payments the age of the borrower was no more than 75 years(can be critical when receiving money for a long time).
• The applicant's work experience is at least 6 months. in last place and at least a year of continuous work experience over the past 5 years. For participants in the salary project from Sberbank, the requirements are softened.
• The borrower is required insure property, which will act as a pledge, for a period until the end of the loan agreement. If the loan is repaid ahead of schedule, then the funds for the unused years of insurance can be returned.

Unlike buying an apartment on credit, when the bank immediately transfers money to the seller, this is not possible with individual construction. In this regard, the money is transferred to the borrower in parts: most often half first, and then the rest. The second part will be issued only after the report and submission of documents for the first.

The bank does not take penalties or commissions for early repayment of the loan:

• Each time, in the form of a planned payment, you can make an amount of any size, but not less than that established by the contract.
• Final early repayment is made upon application and must fall on a weekday.

Collateral is a prerequisite for lending

The bank must make sure that the borrower really intends to return the borrowed money, therefore, in order to avoid risks a mortgage of real estate is drawn up(mortgage). However, since the house under construction itself, especially at the initial stage of construction, cannot act as a pledge, the applicant will have to pledge other residential premises or property.

Most often, a loan is issued for the construction of a house secured by a land plot at Sberbank. If the value of the allotment is disproportionate to the amount required by the bank's client, the latter may require additional collateral. They can be a garage, car, apartment, other property.

The practice of attracting co-borrowers is also widespread. They will help in solving two problems at once:

• will contribute to an increase in the loan amount that the borrower can apply for;
• for the bank will become an additional guarantee that the loan will be paid in full.

Co-borrowers or guarantors may not be required in every case. They are involved in up to 3 people. In practice, it is quite difficult to convince relatives or friends to act as guarantors of the security of the loan. But the spouse acts as a compulsory co-borrower, if she is and regardless of her age.

Interest rates for the program

The presented interest rates are relevant in 2017 for borrowers who receive salaries on Sberbank cards. They depend on the period for which the loan is issued and the amount of the first installment. May be changed by the decision of the bank. But for those who have already drawn up a loan agreement, changing the interest on the loan is impossible in accordance with the provisions of the agreement.

Interest on the Sberbank loan program for individual construction(as of 30.12.2016)

For applicants who do not participate in salary projects of Sberbank, interest rates will be somewhat higher. Additional interest:

• + 0.5% - for those who do not receive a salary from the bank;
• + 1.0% - for the period of registration of the mortgage;
• + 1.0% - if the borrower refuses to insure his own life and health at the request of the bank.

The sequence of obtaining a loan for the construction of a house in Sberbank

Receiving money from a bank in order to invest it in the construction of an individual residential building implies a certain sequence of actions. An applicant for a loan for the construction of a house from Sberbank will need to do the following:

1. Collect and provide a preliminary package of documents (on the ownership of the building plot, house project).
2. Submit an application and documents to the Bank or its branch.
3. Wait for a positive decision (2-5 days are allocated for consideration).
4. Conclude a loan agreement with the bank.
5. Get the first part of the loan.
6. Report to the bank about spending money.
7. Get the second part of the money. The procedure is repeated as many times as the parts of the credit line are broken.
8. To register the ownership of the house after the completion of construction.
9. Transfer the house to the bank as collateral to reduce interest.

You can apply to the Sberbank branch at one of the locations to choose from:

• registration of the borrower;
• construction of a private house;
• accreditation of the borrower's employing company.

To reduce the risks, the bank may insist on additional conditions that will be prescribed in the agreement along with the standard ones.

Sberbank practices limiting the construction period - for example, three years. After the end of this period, the borrower will have to register the house, insure it and transfer it to the bank as collateral. This will help reduce the percentage by 1 point.

Documents for a construction loan

The applicant will need three types of documents: proof of identity, proof of solvency and plans to build a house. You also need to fill out a special application form, which will be issued at the department. To consider a loan application, a bank will need:

• Applicant's passport (and co-borrowers, if any).
• Statement of income of the applicant and other documents confirming his earnings and solvency (the same - for co-borrowers, if any). These certificates are not needed if the applicant receives a salary through Sberbank.
• Documents for a land plot suitable for housing construction.
• Documents for additional real estate that is planned to be mortgaged.

After a positive decision on the application, you will need:

• The project of the future house, sketches, estimates and any other documentation.
• Bank statement confirming that the applicant has his own funds for the first installment.

The list of documents can be supplemented by the decision of the loan officer. For those who receive a loan for construction under the "Young Family" program, additional papers will be required (about them, see the corresponding paragraph below).

Receipts for the purchase of materials, contracts with a construction company and suppliers of individual structures (windows, doors, stairs), various receipts - but exclusively with the seals of legal entities, can act as intermediate documents for reporting the spending of the first part of the money.

Preferential conditions for participants in social programs

Participants of state programs " Maternal capital"And" Provision of housing for young families "(sometimes simply called "Young family") there are no preferential conditions for registration or payment of a construction loan. They cannot count on reduced interest rates or any other concessions.

However, they have the right to use state budget funds to repay the loan body and interest on it. Taking into account the funds allocated by the state for relevant programs, this can be of great help for parents with children and young families.

Maternity capital to repay a loan for building a house

Families holding a certificate for maternity capital, federal law gives the opportunity to use funds provided by the state for down payment on a loan, as well payment of body and interest... At the same time, the funds according to the certificate cannot be used to pay fines, penalties and other unforeseen payments.

The legislation regulating maternity capital does not particularly separate loans for the purchase of housing (houses, apartments) from loans for its construction. All of them allow you to improve living conditions, which means they are suitable for investing in materiel.

To take advantage of the opportunity to invest a certificate under the maternity capital program in the construction of a private residential building, you will need:

1. Take from the bank certificate of the balance of credit debt.
2. Apply to the Pension Fund (PF) with this document and write an application for the disposal of maternity capital funds for partial repayment of the loan.
3. After the FIU approves the application, there is no need to agree on anything with the bank - the transferred amount will be counted towards the payment of obligations under the agreement and will allow to recalculate the schedule of monthly payments.

After the bank accepts funds from the maternity capital, there is revision of the loan repayment schedule: the amount of monthly payments decreases, but the maturity dates and the term of use of the money do not change (as it was, for example, 20 years, it will remain so).

Loan for construction under the "Young Family" program

The owner of the state certificate under the program "Provision of housing for young families" can invest the state subsidy funds allocated to him in the amount of up to 30-35% of the value of the facility under construction in payment of the loan taken from Sberbank for construction.

The procedure for using the certificate implies that first its owner must:

• get a certificate from the bank about the loan balance;
• apply to the local government with an application for spending the money.

The transfer to the bank of the amount from the state budget according to the "Young Family" certificate is made to repay the debt on the loan and interest. After making this payment, the amount of monthly payments is revised, similar to using the certificate for the maternity capital program.

In order to receive a subsidy, program participants will have to submit additional documents to the bank:

• Marriage certificate;
• birth certificates of children (if applicable);
• documents confirming the relationship of the co-borrowers, if they are parents or wife.

Conclusion

Building housing far from the bustle of the city is a modern trend that is popular among Russians. Living outside the city is healthier and more enjoyable. And the construction of an individual house on credit is a justified decision, when you want to move to a new home in the near future, but there is not enough money for construction work. It is especially great if there is already a plot for the house.

Greetings! Today our topic is a mortgage for the construction of a private house. Here you will find out which banks issue mortgages for building a house, loan conditions and alternative options. So…

Each person sooner or later comes to the need to purchase his own home, while one of the questions that a person is asked - "secondary housing or new building", "apartment or house" and so on. For most, the advantages of a private house are obvious from square meters to individual planning. Let's say you've decided. Therefore, we will consider how to get a mortgage for building a house, where and on what terms?

First of all, let's look at what is the difference between a home mortgage loan and a regular mortgage?

• The first difference is that in a conventional mortgage, you first decide on the options for an apartment and only then go to the Bank. And if you decide to take money for the construction of a private house, then first the amount will be determined for you, and then you plan the costs for construction within this amount.
• The second difference is the increased interest rates for building a house, which can be easily explained by the fact that the liquidity of the apartment is much higher.
• Third, a mortgage for individual housing construction will require you to provide and approve a project, as well as reporting documents on the completion of construction, but in the end you will have a built house, planned according to your taste and desire.
• Fourth, there are certain requirements for the land. You cannot build anywhere. The house under construction must be on land of the corresponding purpose and category, which is permissible for the construction of an individual house with permanent residence. Read more in our last post "".
• Fifth, for the period of building a house, the bank may require additional security in the form of a surety or pledge of other housing.
• And sixth - the ability to receive a mortgage in tranches, depending on the completion of the construction stages.

To date, such a mortgage is issued by two banks - Sberbank and ATB. Let's take a look at mortgage lending for construction using the example of these financial organizations.

The requirements in this area are practically the same with slight variations, let us dwell on this issue in more detail.

Requirements

• Along with the availability of a loan for the construction of an individual house, there are, for example, age restrictions - from 21 to 75 years at the time of full repayment at Sberbank and from 20 to 65 years, respectively, at ATB.
• The next prerequisite in this area is confirmation of solvency. It is interesting to note here that if you apply to Sberbank and receive a salary on its card, then you do not need to take a certificate of income from the place of work. Sberbank takes into account additional income without mandatory documentary evidence, which allows you to significantly increase the loan amount.
• Work experience at the current place of work must be at least 6 months. General experience from a year.
• If you want to increase the loan amount, you can attract up to three Co-Borrowers. You will need to confirm their income with certificates, which will be taken into account when the amount is approved for you, and your other half will be the Co-Borrower automatically.
• The plot on which you plan to build must be in your ownership or leased, since it is pledged to the Bank for the duration of the loan, and if it is leased, you will have to issue a pledge of rights.
• The land plot in ATB must be suitable for individual housing construction. Sberbank allows a loan for the construction of a private house on agricultural land for the purpose of personal subsidiary farming.
• Well, there is only one requirement for your future home - to fit the design and estimate documentation into the approved amount and meet the deadline.
• In Sberbank, independent construction is allowed. In ATB, construction is possible only by an organization specially accredited with the bank.
• An object for a mortgage must be built in the territory of the bank's presence. As you can imagine, Sberbank has no competitors here.

Registration steps step by step

• So, first of all, you are determined by the terms of which financial institution is most attractive to you.
• Then go to its branch with a passport and documents, do not forget the documents on the pledge of other real estate, if you are going to issue it.
• Next, you are waiting for the approval of your loan application with a pre-approved amount for the construction of a house.
• After approval, you provide land title deeds and construction deeds.
• The loan documents are signed.
• Registration of the transaction in justice.
• Issuance of a mortgage in full, or in tranches.

Practice shows that, on average, it takes a month to get a mortgage

Documentation

Documents to be provided:

• Borrower's application.

• Copies of passports of all participants in the transaction;
• SNILS.
• Certificates of marriage and birth of children (if the fact of this event)
• Reference 2НДФЛ for the last 12 months of all participants in the transaction, (information in the form of the Bank is possible).
• A copy of all completed pages of the work book, certified by the employer.
• For business owners - tax returns and management reporting
• In addition to income certificates, security officials provide a certified copy of the contract and a certificate of service life.

• Pledge documents (if any)

After approval of the application:

• Documents confirming the presence of an initial payment;
• Design and estimate documentation;
• Pledge documents:
• Certificate of ownership
• Documents on the basis of which the right arose
• Assessment conclusion
• Cadastral (technical) documents for land
• Extract from the Unified State Register;
• Consent of all co-owners of real estate (for example, both spouses);

Bank conditions and features

In order to make it easier for you to compare mortgage programs for the construction of a private house, below is a table with the lending conditions of the two banks we are considering.

Young Family Program

The state has launched a number of programs to support mortgage borrowers in order to help solve the housing problem of the country's residents in the most profitable way. We talked about them in more detail earlier in the post mortgage with state support. And now we will briefly discuss a number of them regarding the construction site.

A family in which at least one of the spouses has not reached 35 years of age at the time of applying for a loan or an incomplete family in which the parent has not reached 35 years of age at the time of applying for a loan can use the program at Sberbank. The loan under this program is issued at 11.25%, the initial payment is from 20%.

ATB has a similar program called "Mortgage for the Young", but its terms differ from Sberbank. While at Sberbank you can take advantage of the preferential terms "young family" when obtaining a loan, then at ATB the preferential program for young families is designed to support borrowers with whom a mortgage agreement has already been concluded after the birth or adoption of a child, allowing during a grace period (one calendar year ) pay the reduced monthly payments established by the loan agreement.

Maternal capital

And, of course, no one canceled the right to use maternity capital. implies the full or partial use of these funds by you to pay off part of the residential mortgage. The conditions for using capital also differ in the banks we are considering, so:

- in Sberbank, you can use maternity capital for an initial contribution or part of it, as well as for partial early repayment;

And at ATB - only for partial early repayment of the loan.

And do not forget that the decision to transfer funds by mat capital is made within two months, so worry about this in advance.

Before completing our educational program on a mortgage for building a house, I would like to say about the additional preferential conditions that are available in the financial organizations we are considering, they are certainly different, but their presence is pleasant, in principle.

At Sberbank, you can take advantage of a deferred payment of the principal debt within two years or extend the loan term. To do this, you need to submit documents stating that the cost of your residential building under construction has increased during the construction period.

In turn, at ATB you can reduce monthly payments under the "Set your rate" program. The idea is that you make a lump sum payment that meets the requirements, and accordingly your interest rate is reduced. There are three options:

"Light" - a one-time payment is 1% of the loan amount, the rate is reduced by 0.5%;

"Classic": one-time payment - 2.5% of the loan amount, the rate is reduced by 1.0%;

"Premium": one-time payment - 4% of the loan amount, the rate is reduced by 1.5%.

Tax deductions

Well, and one cannot fail to mention tax deductions. Tax deductions apply to the amount of interest paid on the targeted mortgage. The amount of the deduction is 13%, the maximum is 260,000 rubles. The deduction is provided after receiving the Certificate of ownership of the residential building in your hands.

Alternative options

You should understand that taking a mortgage for the construction of a private house is quite an affordable, although not the most profitable option for several obvious reasons.

Firstly, this is a rather lengthy process.

Secondly, it is costly, since the preparation of design and estimate documentation will cost you a pretty penny, unless of course you are a designer.

An alternative in this case is consumer loans, where you do not need to provide projects for the construction of a house and reports on construction, these are:

• inappropriate consumer loan, which can be obtained as soon as possible. In this case, you will have an increased interest rate compared to mortgage lending, a short loan term - 5 years, a limited maximum amount, but you do not need to issue a pledge transaction,
• either a consumer loan or, here a fairly decent loan term - up to 20 years, also a limited maximum amount, although more than a consumer loan without collateral, but should not exceed 60% of the appraised value and high interest rates.

Pros and cons of mortgages for construction

If we talk about the advantages and disadvantages of mortgages for building a house, then the pros are obvious, in general, like the cons, let's take a closer look at them. Let's start with cons to finish with pros

The disadvantages here include:

• preparation of design and estimate documentation, which must still be approved by the Bank;
• A certain deadline for the completion of construction, which is also approved by the documentation.
• Strict adherence to the approved design and estimate documentation;
• Land for construction must already be owned or leased for the entire loan period, i.e. if you do not have land, you cannot apply for this type of mortgage;
• Certain land requirements.

But, for all these cons, it's easy to find pros:

• You will significantly improve the quality of life for the same money;
• If you do not have any real estate on collateral besides land for building, you are solvent and you can confirm this, if you need an amount for the construction of more than 3,000,000 rubles, then a mortgage for building a house is definitely a huge plus for you.

Summing up all of the above, we see that it is impossible to give an unambiguous objective assessment of each product, including our current mortgage, because each of you has your own vision of the positive and negative aspects of the loan products that Banks offer us today. Ultimately, each has its own priorities and needs, so arm yourself with information and make the only right decision for you.

And for this solution to be as effective as possible, check out our previous posts: "Buy a house on a mortgage" and "Cottage mortgage".

And we are waiting for your questions in the comments, to which we will be happy to answer.

If a mortgage for the construction of a residential building is too difficult for you or you need to assess the legal force of documents on land and property, as well as just the support of a professional lawyer, then please sign up for a free consultation with him directly on our website in a special form in the corner of the screen.

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A loan for the construction of a private house is a popular product in banks. Wanting to become the owner of real estate, clients prefer to invest in the creation of a "dream home", rather than the embodiment of engineering. Lending conditions depend on where to get a loan for building a house or summer cottage: in a large state bank or from a local regional bank.

By taking out a loan at a low interest rate from an unverified lender, clients run the risk of losing the down payment or paying inflated interest.

What is the best way to take out a loan for building a house or summer cottage

The best way to get a loan for building a house is to leave an application via the Internet and get preliminary decisions. Further, in case of a positive decision, you must come to the bank office. The loan manager will explain the nuances and talk about the possible costs. If everything is building, then the money can be received immediately or on the same day.

Online application today is a convenient and fast way for a modern person who values ​​his time. Moreover, without leaving your home, you can send applications to several banks at once.

When choosing a bank for a construction loan, you need to pay attention to the following parameters:

• borrower reviews
• loan conditions
• methods of repayment
• reputation in the market.

Credit institutions, as a rule, do not seek to “cash in” on clients and value their reputation. The popularity of the product speaks of its convenience - if a loan for the construction of a country house (dacha, apartment) is chosen, it means that the bank inspires confidence.

The loan term depends on the borrower's solvency and the terms of the product. It is risky to set minimum conditions without taking into account additional insurance costs, commissions and unforeseen situations. But it is also irrational to set maximum boundaries, being able to deposit ahead of schedule - the amount of overpayment will be greater.

It is optimal to finance the construction of a bathhouse or additional structures using consumer lending: the interest will be higher, but without collateral and guarantors.

Registration of existing property as collateral is advisable for large loans: as a loan repayment security, this is the best option, guaranteeing preferential loans for construction.

Best banks for home construction loan

Below is a rating of the TOP-5 best Russian banks offering the most favorable conditions for loans for the construction of houses and summer cottages. The rating was compiled by experts in the field of lending and it is recommended to pay attention to these banks and leave applications.

Cash loan for the construction of a private house and summer cottage from Alfa-Bank

One of the largest private banks in Russia offers cash loans to all customers aged 20-64, without collecting various certificates and providing collateral.

Interest rates attract the attention of borrowers: from 11.99% to “salary” clients and from 13% to all others. The loan amount varies from the wishes of the borrower - but not more than 3 million rubles for a period of up to 7 years. This amount and the term will be enough to choose a comfortable payment for yourself.

The money received can be used for any purpose, including construction, renovation of a private house and summer cottage.

Favorable interest on a loan for the construction of a country house from "OTP Bank"

The subsidiary of the Hungarian bank in Russia, OTP Bank, does not divide the line of credit products according to the needs of clients, offering to issue a loan for any purpose to potential borrowers aged 21-65 for 5 years.

It is easy to take out a loan without collateral and guarantors at OTP Bank: interest - from 11.5% to 750 thousand rubles.

The borrower has the right to receive loan funds and dispose of them at their own discretion: the terms of the loan do not oblige to report to the company for the loan spent.

The rate of 11.5% is high for mortgages and home loans, but applicants have a significant advantage: the ability to shift the payment date (a commission is charged for the service according to the company's rates).

Loans from OTP Bank can be easily repaid: in terminals, on the website, by money transfer in other payment organizations or banks.

Preferential loan for pensioners for building a house from Sovcombank

Are you a retiree and need a loan for construction? Gaining popularity among pensioners, the bank offers to get a loan at a low interest rate for the implementation of the intended goals: to build a house, a summer house, a bathhouse or to improve living conditions.

You can get a loan without unnecessary hassle and "bureaucracy". It is enough to leave an application on the bank's website and get a preliminary calculation and a decision on the loan within a few minutes.

Express loan for building a house without certificates and guarantors from Renaissance Credit

A wide network of repayment channels (M.Video, bank terminals, Euroset, QIWI) simplifies making monthly payments and reduces the risk of loan delinquencies.

Consumer loan in Sberbank for construction and repairs

The state and main bank of the country - Sberbank offers to issue a consumer loan for any purpose, including for the construction of a private or country house without collateral and guarantors. This program is perfect for those who urgently need money to repair or build their own home.

Directly on the site, you can make a calculation and leave an application for a loan. You will receive a response from the bank almost immediately. For registration, you must have a connected "Sberbank-Online".

If you are considering state-owned banks Sberbank, VTB or Rosselkhozbank in order to take out a loan for building a house, then Sberbank will definitely be the favorite of these banks. But do not forget that it is a little more difficult to apply for a loan in state banks than in a commercial bank, which are listed in our review.

The construction of personal private houses, as a process, requires a certain investment of capital. If you use cash in this process, you can significantly speed up the construction process. If you arrange a mortgage loan for the construction of a house, you will have an opportunity to celebrate a housewarming much faster. If you need to get a loan for such purposes, you should apply and apply for a mortgage for building a house. Rosselkhozbank is the most reliable bank in all respects, many people trust it, since the shares in the bulk are at the disposal of the state.

Absolutely any person, whose age ranges from 21 to 65 years, has the opportunity to get such a loan. A construction loan is issued in the presence of a previously acquired land plot and an official place of work. This program provides for the attraction of one or several co-borrowers, but no more than three. They must have optimal material wealth.

Providing the bank with serious co-borrowers will provide the following benefits:

1. Reducing the interest rate, as the bank receives a guarantee of compensation for possible damage.
2. A significant increase in the total amount of the mortgage agreement.
3. Distribution of financial responsibility by responsibilities.
4. The term of the mortgage can be up to 25 years.

If the terms of the official loan agreement are changed by the borrower himself, the organization will immediately take measures to ensure high-quality protection against possible risk and automatically increase the level of responsibility of the client who received the loan. If the co-borrower for some reason refuses to participate in the mortgage agreement, the bank automatically starts re-issuing the previously accepted conditions by drawing up a formal agreement with the client.

Mortgage for the construction of a private house in the Russian Agricultural Bank: conditions in 2020

To obtain a positive result in the process of applying for and obtaining a mortgage loan, the applicant will need to monitor his compliance with certain conditions. Along with a positive credit history, it is very important to ensure that the following conditions are met:

• Permanent registration in Russia;
• Official employment experience is at least 1 year, and for the last five years a person must work for at least six months;
• The fact of official employment is confirmed by the provision of a work book, previously certified by the employer;
• Income that ensures the timeliness of the full repayment of the loan;
• The amount of income received must be indicated in a special 2 personal income tax certificate or in the form of a document, the form of which is developed by the bank itself.

Special privileges are enjoyed by persons who are engaged in activities related to the maintenance of agriculture. When obtaining a mortgage aimed at the construction of residential premises, clients of the RSHB can take advantage of the benefits, as well as those who have payment cards or products of the pension and salary project at their disposal.

When applying for a loan, the bank's client has the opportunity to significantly improve the terms of the official loan agreement. The insurance in this case concerns the loss of working capacity and health. If you have official insurance, it is possible to reduce the overall lending rate. Refusal from the policy will reduce the previously set interest rate. The formal refusal of insurance leads to a complete revision of the previously concluded contract. Insurance is carried out simultaneously with co-borrowers.

Mortgage for the construction of a private house in the Russian Agricultural Bank: calculation calculator

RSHB provides its clients with a fairly profitable mortgage insurance with the lowest interest rates. Their competent management is dependent on the eventual full refund guarantees that have been provided to the customer. Another important advantage is the ability to pay off mortgage funds earlier. If it was decided to repay the loan ahead of schedule, this will not be the basis for calculating fines and commissions.

Another advantage is the opportunity for the client to use the calculator on the official website before signing the contract. This is an ideal opportunity to calculate your strengths and potential interest rates, which directly depend on the term of the loan, on the level of income and on the size of the down payment. To get approximate indicators, you just need to fill in all the necessary columns of the calculator.

It is worth noting that the mortgage for the construction of a residential building by Rosselkhozbank is issued with a higher interest rate, by about 0.5%. It is relevant until the receipt of a certificate confirming the ownership of an already fully completed object of the construction process.

A feature of this form of lending is that each construction stage is characterized by the compulsory budgeting. The mortgage itself, as a loan, is formalized in the form of opening a credit line, where a selection of the main parts of the project and estimates is carried out. The mortgagee has the right to use the assistance of selected contractors, has the ability to carry out the main work processes on his own.

An invitation to work for professionals must be reflected in the estimate plan. RSHB is able to provide an amount of no more than 80% of that indicated in the estimated calculation scheme. To obtain the most favorable conditions for a mortgage for the construction of a suburban private house, the borrower should make an initial payment of 15% of the total estimated cost.

Summing up

The withdrawal of funds is carried out to the bank's clients exclusively in non-cash form. With regard to repayment, here borrowers are given the opportunity to act one of the most convenient options for themselves.

Rosselkhozbank in 2020 provides quite favorable conditions for mortgage lending. For the construction of a private house, the proposals of this financial institution are very profitable and loyal. A high level of service is provided, you can use the calculator and get answers to your questions through 24/7 support at any time.

Mortgage lending is a very popular way to buy a home. And if a mortgage for an apartment is a fairly common phenomenon that does not cause a lot of questions, then a mortgage agreement for the purchase of a country or private house has its own characteristic features. Topic of today's article: mortgage on a private house. Consider how and where it is more profitable to arrange, what stages and in what sequence will need to be performed in order to get your own private housing.

Distinctive features of a mortgage for a private house

Not every banking organization is ready to provide loans for the purchase of a private house. This is associated with the high risks of such a transaction. The risks are due to the fact that private and country houses have low liquidity.

If an apartment, in particular a new building, sells quickly and well by the standards of real estate, then it will be somewhat more difficult for a bank to sell a private house. In this regard, there are special conditions for the execution of such transactions. Well, interest rates are correspondingly higher. But you can still take out a mortgage on private houses. If there is such a need, then the banks form their proposals.

It should be noted right away that not all banks form such offers. We will consider which banks give mortgages on a private house a little later. Now it is important to define the basic conditions. And one of the main requirements is the availability of real estate as collateral.

Banks are very reluctant to issue land as collateral. It is much more profitable for a banking company if clients provide an apartment on security, commensurate with the cost of the loan agreement. Of course, this is not a prerequisite; it is possible to register the acquired property as collateral. But the percentage of approved loans, where a city apartment is used as collateral, is much higher.

The second distinctive feature is that you can purchase land in or a private ready-made house with a mortgage. In both cases, the land should be owned by the borrower. And also a land plot may be attached to the house. All these nuances are reflected in the terms of the contract. Let's consider these cases separately.

In terms of interest on a loan agreement, a ready-made house is a more attractive option. In addition, conditions of social benefits often apply, for example, mortgages for young families, military personnel and other types of discounts.

The risks are that if the acquired property is the only property of the borrower, and it will be pledged in the bank, then in case of loss of solvency, you can be left without housing at all.

Do you give a mortgage for a land plot without a house? Yes, you can take the plot itself to build real estate. The limitation is that the property being built must be residential and not used for commercial purposes. The conditions for the interest rate here will be somewhat stricter, but this way you can save on the cost of housing, since the entire construction process can be independently controlled.

Will give a mortgage and for the reconstruction of real estate owned. This type of financing is justified if the house is partially worn out and requires replacement of the worn out structure. Also, this type of contract implies additional buildings or superstructures and a complete redevelopment.

Then we should expect the decision of the banking company on the possibility of issuing a loan. This decision may take up to 10 business days. If there is no answer, you can contact the bank again.

If the decision is positive, and a certain amount of the loan has been approved in advance, then you should select the necessary housing for yourself within these limits. A period of six months is allotted for this. After selecting the option you like, you should order an appraiser and gradually provide the required package of documents to the bank.

After that, the bank will make a final decision on the available mortgage amount and offer options for risk insurance. It should be borne in mind that real estate insurance is a prerequisite, life and health contracts, as well as title insurance are not required. But thanks to them, you can save on the interest rate.

As a result, the date of registration of the contract will be set. Financing of the deal will take place. And the rights and obligations of the parties will come into force. From this moment it will be possible to begin to pay off the debt and use your new property.

What do banks offer?

Let's consider the proposals on the example of two large-scale banking organizations: Sberbank and VTB 24. The rest of the proposals on the market will be approximately the same, but we recommend not to dwell on several options, but to consider as many banks as possible.

Sberbank

Sberbank is ready to provide from 300,000 to 20 million rubles at 14-18%. A person whose age is from 21 to 65 years old. In this case, it is worth preparing an initial payment of at least 30%. And the term of the contract will be no more than 30 years. A mortgage for a private house in Sberbank is also suitable for various social categories, such as a young family, military personnel.

The decrease in the interest rate can be used by the bank's clients, as well as those borrowers who additionally take out comprehensive mortgage insurance. According to the pledge agreement, drawn up in Sberbank, in case of non-payment of the loan, the banking organization has the right to use the pledged property at its discretion.

VTB 24

VTB 24 will provide from 500,000 to 75 million at 14-16%. The age of the borrower and the term of the agreement are identical to the Sberbank proposal. The down payment can be 20% of the cost of housing. Interest rate discounts are also provided for salary projects and for comprehensive insurance.

Basically, the conditions are similar for other large companies. Therefore, it is worth choosing the option that will be most acceptable for you.

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