Private house is the most appropriate scenario residential ownership for many people. However, not everyone has the necessary large amount of money to realize his dream. You have to consider various loan options. One of the most reasonable solutions is a mortgage for construction of a private house, which is explained in detail in this article.
The contents 1 Variants of the loan for construction of houses 2 Conventional mortgages for the construction of a private house 3 Scheme of obtaining a mortgage and the documents required 3.1 the Package of documents on object of pledge 4 loan to build a house in the savings Bank 4.1 On what terms is the design in the Bank loan for the construction of a private house? 4.2 Interest rate 2017 to obtain in Sberbank the mortgage for the construction of a private house 5 Conditions of registration of agricultural loan to build a house 6 VTB 24: the mortgage on the construction of a private house 7 if the construction home mortgages other banks?
Variants of the loan for construction of houses
Before you take out a loan to build a house, you should consider all options, which offer large banks. There are certain programs that have good conditions, but more demanding. After all the calculations, you can choose the most appropriate solution.
Many large banks now offer several options of obtaining a monetary loan for the construction of a private house:
- conventional mortgages;
- consumer credit;
- mortgage involving the mortgage conclusion of the additional agreement on private property;
- the mortgage is with the use of the parent capital.
Each option has significant advantages and disadvantages.
Consumer loan for the construction of a private house involves the least term of the application. It requires a minimum list of documents. The loan is earmarked, so the Bank is not interested in the question of the destination of the funds. However, despite this, there are a number of disadvantages:
- high interest rate, which is 20%;
- the loan is issued for 10 years;
- the maximum amount of money reaches 2 million rubles.
This is a good solution for the loan for the construction of a suburban area.
For the construction of a country house, the mortgage with the registration of the pledge agreement, unlike a consumer loan is more cost-effective option. Here you can expect to receive a more substantial cash amount, which is limited to the value of the collateral. It is issued for a longer period – up to 30 years. The interest here is on average 18%, and as collateral could be a private apartment, land or residential property.
Another solution often used by young families is the use of means of the parent capital for a loan to build a house. These funds can be applied for the first payment, or repayment agreement. The certificate can be used immediately after receiving it.
At the time of applying for the mortgage the borrower provides the Bank’s employee certificate. After that, the Bank representative should contact the Pension Fund and to clarify the rest of the money will be transferred into the repayment of credit debt.
Important! All the required documents, the borrower must provide not only in a Bank, but also in the Pension Fund, which will be incurred.
Conventional mortgages for the construction of a private house
Mortgage to build a house today is one of the most popular loan programs offered by many large banks. To obtain there are a number of requirements, and is a basic condition for a good financial well-being that meets the requirements of the Bank.
To the construction of a common home mortgage loan at a major Russian Bank can as a citizen of the Russian Federation and the representative of another state who has attained the age of 18. Loan assumes the first payment of 30% required Deposit real property available to the borrower. Also as collateral can be purchased object. The crediting period is 30 years old.
As guarantors can be held up to 3 co-borrowers. If the borrower falls under the terms of the credit program “Young family”, are guarantors on the mortgage can become his parents.
Important! Civil servants, young families, salary the Bank offers preferential terms that significantly affect the interest rate on the loan.
For construction of residential house loan provided certain parts, so-called tranches. This allows for a phased payment for the building work. The scheme of loan repayment is an annuity that involves monthly payments in equal installments.
The main advantages of a mortgage loan for the construction of the house are:
- here are considered confirmed and informal forms of income;
- long period of lending;
- low interest rate of 9%;
- the possibility of attracting multiple sponsors;
- exception to requirements of obligatory life insurance;
- the possibility of early or partially early repayment of the credit debt with the implementation of the allocation for free;
- the ability to defer payment.
The scheme of obtaining a mortgage and the documents required
Mortgages for new construction is purpose. Funds are expended for the construction of a specific object and are strictly controlled by the Bank. The loan is issued in parts. For receiving the second part should present the report for the first part of the money.
The procedure of registration of the target credit for building a house involves the following steps:
- submission to the Bank statements;
- preparation of necessary package of documents relating to the first payment;
- the conclusion of the contract and receipt of the loan;
- provide to the Bank a report on the expended funds;
- getting the next part of the loan;
- the paperwork on the ownership of the object of construction;
- transfer as collateral to the Bank of the construction to reduce interest rates.
Important! As documents for the report for the expended portion of the amount available to the contract with construction companies, materials suppliers, cheques and receipts with the wet seals of legal entities.
In order to take to build a house the mortgage is required to prepare certain documents:
- passport and copy of document of residence of the borrower and all guarantors;
- proof of employment income;
- all documents that relate to collateral;
- all documents for construction, including a plan of the future house, design documents and estimates;
- a document confirming the availability of funds to implement down payment.
This is a basic list of documents, but the Bank may require other papers individually. It can be indification code, driver’s license, military I. D., diploma of education, a copy of the TC certificate of personal account, marriage certificate, passport.
If the borrower has additional income, you must provide a statement from a wage or Bank debit card. In the case when the borrower is the owner of the company is required to provide copies of the Charter and constituent documents. When the client is IP, to confirm his income will require tax Declaration, extract from the personal Bank account and a copy of the cash book.
When the parents of the borrower are guarantors must provide a document confirming their relationship with the client.
The package of documents on object of pledge
The construction of a house mortgage is secured one of the objects:
- the land to house the facility construction;
- property to be constructed or acquired.
In the case of taking a loan secured by an apartment to build a house at the time of filing you must provide the following documents:
- the original of the certificate on the property right to apartment;
- the originals of the cadastral and technical passports;
- original extract from the unified state register, which must be no older than 30 days, which indicates the presence or absence of encumbrances;
- the original expert appraisal reports on the actual value of the apartment;
- the original marriage contract, if any;
- original notarized Declaration on the absence of marriage.
When the borrower received from the Bank prior approval, he must submit the necessary documents relating to the initial payment and facility construction.
Confirmation for the purpose of the initial contribution is an extract from the personal Bank account of client where the specified amount or a document confirming the payment of a certain part of the construction for which the loan is taken.
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A loan to build a house in the savings Bank
The constant leader in the issuance of mortgages to build houses is a savings Bank. It offers customers very best and reasonable loan terms. However, in comparison with buying a ready-made housing here is higher interest rate. Its size depends on the amount of the first payment and loan repayment term. The minimum interest rate reaches 12.5 percent. There are other benefits at the time of registration of the mortgage for the construction of a private house. Sberbank provides the following conditions for lending:
- the minimum amount of the first payment must be at least 25%;
- the Bank offers the most favourable and improved conditions of receiving the cash loan;
- when considering the application and the loan servicing fee will not be taken;
- in case of early repayment of credit debt penalties are not provided;
- the possibility of repayment of the loan at the expense of the parent capital or funds provided by the state program of providing housing for young families;
- individual approach when considering each application;
- to obtain the maximum monetary amount you can attract guarantors;
- given the possibility of registration of tax deduction in the amount of 13% of the total amount of paid dividends;
- the possibility of registration of a postponement of principal repayments on the loan for a period of not more than 3 years.
Deferral of payments on the loan is a favorable condition, allowing the first years to pay only the interest, and the funds available to spend on additional construction costs.
On what terms is the design in the Bank loan for the construction of a private house?
From the beginning of 2016 to obtain in the savings Bank for a house mortgage can be effected in rubles. The minimum amount is not less than 300 000 rbl. the Maximum size will not exceed 75% of the cost of the future house or of the price of collateral. The missing 25% would be required as a down payment.
Every mortgage has a target destination, so all funds should be focused exclusively on the construction of the house. It is strictly controlled by the Bank representatives. Credit may register as a citizen of the Russian Federation and other countries. The repayment period of the loan depends on the borrower’s age, who at the time of repayment should not be more than 75 years.
Continuity of employment for the last five years should be around 1.5 years at the last place of work. The property, which will act as collateral must be insured at the time of loan repayment. If the loan is repaid early, provided the refund for the unused period of insurance.
When monthly repayment of the loan can be paid any amount of money that needs to exceed the amount set under the contract. Depositing the final amount for early repayment is done at the request of the borrower only on a weekday.
Interest rate 2017 to obtain in Sberbank the mortgage for the construction of a private house
Interest rate is accrued on the basis of the period of mortgage loan and downpayment. It can be changed by the decision of the Bank management, however, is possible only at the stage of processing the loan. After the loan agreement was concluded, is a possibility of changes in interest rates.
When the first installment is 50%, the percentage depends on the crediting period. Minimum size is 12.5% while the loan repayment for 10 years. The percentage reaches a value of 12.75% for a crediting period of 10-20 years. If the cash loan is issued for a period of 20-30 years, the interest on the loan is 13%.
If the amount of the initial contribution varies from 30% to 50%, then the interest rate for a crediting period of 10 years is 12.75%, 10-20 years — 13% and 20-30 years of 13.25%. In the case of the minimum payment of 25% is 13% of 13.25% and 13.5% on the aforementioned crediting periods, respectively.
Important! These interest rates relevant for borrowers with the salary card in Sberbank. For other individuals, these figures will be increased by 0.5%.
If the client refuses to insure his life and health upon demand of the Bank, the percentage increased by 1%. In any branch of the savings Bank to calculate the credit for house construction to determine the exact amount and interest rate are completely free after submitting the online application form.
Conditions of registration of agricultural loan to build a house
Agricultural there are no separate programs under each credit facility. Conditions are set individually based on the query and attributes of the borrower. To arrange a mortgage may be a Russian citizen aged 21 to 65 years with a steady job and stable financial income. Total work experience should be around 5 years.
A loan to build a house granted for a period of 3 to 25 years. Long-term maturity does not bear interest, commissions and fines. The amount of the initial installment shall make up not less than 15% of the total. The minimum amount for a mortgage is charged from 100 thousand rubles, the maximum depends on the income of the borrower and charged no more than 2 million rubles.
As collateral can be any of the insured property. At the conclusion of the contract, it is possible to attract up to three guarantors. Interest rate agricultural Bank varies from 7.5% to 13%. The best solution is a program supported by the state. Here the interest rate is only 11.3%.
Rosselkhozbank offers the possibility to pay under the parent capital the loan to build a house that can be used as the initial payment or to repay the loan. However, it does not provide preferential treatment. To use this program you must submit an application to the Pension Fund with a request to dispose of assets to repay debt under the credit agreement. After the approval of a certain amount will be automatically credited to the account under the credit agreement that will serve as the basis for performing the allocation of the monthly payments.
Calculating the agricultural Bank credit for home construction is possible in any Department where there is an individual approach to the client. The Bank employee will inform you about possible options for processing the loan.
VTB 24: the mortgage on the construction of a private house
The Bank has a special program that allows you to obtain a mortgage secured by land. The main condition is that building land should be the private property of the borrower, which shall be the relevant document.
The Bank issues a loan of 6 months up to 30 years in the amount of 490 thousand rubles to 5 million rubles. The rate of interest has a size of 12.75%, however, in the case of late payments it can reach 17,15%. On the basis of this program is to obtain a mortgage to build a house VTB 24 does not require the exercise of the initial payment. It also does not take into account the borrower’s income. Online application will be considered by the Bank within 3 days.
The loan can be completed by the citizen of the Russian Federation aged 21 to 60 years, who has worked for at least one month at the last place of work. As collateral may be land or property on it, which was insured.
Important! These terms shall be governed in Moscow. In other cities of Russia terms and interest rates can be changed.
VTB 24 provides the right to receive a cash loan to build a house in the amount of 400 thousand to 3 million rubles for a period of 13 months. up to 5 years. However, the percentage here there are at least 17%.
A useful tip! A cash loan is untargeted, therefore, the received cash can be used not only for building a house.
The application can be issued on the Bank’s website, by phone or in the office. On a positive decision the borrower will be notified by SMS. Next, you need to provide the list of documents on the third working day to obtain a cash loan. If the borrower is salary, receive money in day of application, which is addressed immediately.
If the construction home mortgages other banks?
For the construction of a country house mortgage you can get and Gazprombank, which provides customers the opportunity to take from 300 thousand to 4.5 million roubles under 15% annual for the term up to 30 years.
The borrower submits all the required documents, list of which shall be the document certifying the right of ownership of the plot of land intended for future construction. Project documentation for the home should be the official construction company that has a license. The representative of the Bank will carefully examine the creditworthiness of the borrower through his credit history. After receiving a positive response to your request, the customer can expect to receive the first part of money, which are only intended purpose.
Raiffeisen Bank gives you the opportunity to obtain inappropriate loan at 17% per annum for 15 years in the amount not exceeding 60% of the value of the mortgaged property, but not more than 9 million rubles.
The Bank provides mortgages on a variety of housing types, including can be obtained at the loan building a house “turnkey” for 25 years. Here are the percentage of 11.75%. As collateral the Bank accepts only its own estate. Land or not dostroy for such purposes is not suitable. The amount of initial contribution should be 15%, or 10% for participants of incentive programs.
Mortgages for the construction of a new private home is the most appropriate solution for those who do not have sufficient financial ability to purchase housing for their own money. It is a profitable but also a risky operation, which requires compliance with certain conditions. Therefore, you should be knowledgeable about the various options for loan in different banks to choose the most suitable and acceptable offer.