Mortgage for the construction of a private house: an advantageous offer for obtaining housing

A private home is the top priority residential property option for many people. However, not everyone has the necessary large sum of money to realize their dream. We have to consider all kinds of loan options. One of the most reasonable decisions is a mortgage for the construction of a private house, which is described in detail in this article.

Loan options for building a house

Before taking out a loan for building a house, it is worth considering all the options offered by large banks. There are certain programs that have good conditions, but at the same time they impose increased requirements. After completing all the calculations, you can choose the most appropriate solution.

Many large banks today offer several options for obtaining a cash loan for the construction of a private house:

• ordinary mortgage;
• consumer credit;
• mortgage, involving the conclusion of an additional pledge agreement for private real estate;
• mortgage using maternity capital.

Each of the proposed options has its own significant advantages and disadvantages.

A consumer loan for the construction of a private house assumes the shortest time for consideration of an application. This requires the provision of a minimum list of documents. The loan is inappropriate, so the bank is not interested in the question of the purpose of the funds. However, despite this, there are a number of disadvantages:

• high interest rate, which reaches 20%;
• the loan is issued for 10 years;
• the maximum amount of money reaches 2 million rubles.

This is a good solution for obtaining a loan for the construction of a summer cottage.

For the construction of a country house, a mortgage with a pledge agreement, in contrast to a consumer loan, turns out to be a more profitable option.Here you can count on receiving a more significant amount of money, which is limited by the value of the collateral. It is issued for a longer period - up to 30 years. The interest on the loan here is on average 18%, and your own apartment, land plot or non-residential property can act as collateral.

Another solution often used by young families is to use funds from maternity capital for a loan to build a house. These funds can be used to make the first payment, or to pay off the body of the contract. The certificate can be used immediately after receiving it.

At the time of registration of the application for a mortgage, the borrower provides the bank employee with a certificate. After that, a bank representative must contact the Pension Fund and clarify the balance of money that will be transferred to pay off the loan debt.

Important! The borrower provides the entire required package of documents not only to the bank, but also to the Pension Fund, from where the accruals will be made.

Ordinary mortgage for the construction of a private house

A mortgage for the construction of a residential building today is one of the most popular lending programs provided by many large banks. To obtain it, there are a number of requirements, and the main condition is a suitable financial well-being that meets the requirements of the bank.

Both a citizen of the Russian Federation and a representative of another state who has reached the age of 18 can get a mortgage loan for the construction of a private house in a large Russian bank. The loan involves the implementation of a first installment in the amount of 30% and a compulsory pledge of real estate available to the borrower. The purchased object can also act as collateral. The crediting period reaches 30 years.

Up to 3 co-borrowers can be involved as guarantors. If the borrower falls under the terms of the Young Family credit program, his parents may become the guarantors for the mortgage.

Important! Civil servants, young families, and salary clients of the bank are provided with preferential conditions, which significantly affect the interest rate on the loan.

For the construction of a residential building, a loan is provided in certain parts, so-called tranches. This allows for milestone payments for construction work. The loan repayment scheme is annuity, which implies monthly payments in equal installments.

The main advantages of a home mortgage loan are:

• it takes into account confirmed and unofficial forms of income;
• long lending period;
• low interest rates from 9%;
• the ability to attract several guarantors;
• elimination of the need for compulsory life insurance;

• the possibility of partially early or early repayment of credit debt with the implementation of recalculation without bank commission;
• the opportunity, if necessary, to receive a deferral for payment.

Scheme for obtaining a mortgage and the necessary package of documents

The mortgage for new construction has a designated purpose. The funds are spent on the construction of a specific facility and are strictly controlled by the bank. The loan is issued in installments. To receive the second part, you must submit a report for the first part of the money.

The procedure for obtaining a targeted loan for building a house involves the following actions:

• filing an application with the bank;
• preparation of the necessary package of documents related to the first installment;
• conclusion of an agreement and obtaining a part of the loan;
• submission to the bank of a report on the funds spent;

• getting the next part of the loan;
• registration of documents for the ownership of the construction object;
• transfer of the construction object as collateral to the bank to reduce the interest rate.

Important! As documents for the report for the spent part of the amount, contracts with construction organizations, suppliers of materials, checks and receipts with wet seals of legal entities are provided.

In order to take a mortgage for the construction of a house, you need to prepare a certain package of documents:

• passports and copies of the document with the registration of the borrower and all guarantors;
• certificate of income from the place of work;
• all documents related to the pledge;

• all documents for construction, including a plan for the future house, project documentation and estimates;
• a document confirming the availability of funds for the initial payment.

This is the main list of documents, but the bank may require other papers on an individual basis. It can be an identification code, a driver's license, a military ID, a diploma of education, a copy of the TC, a certificate of the state of a personal account, a marriage certificate, a foreign passport.

If the borrower has additional income, it is necessary to provide an extract from a salary or bank debit card. In the case when the borrower is the owner of the company, it is necessary to provide copies of the charter and constituent documents. When a client is an individual entrepreneur, a tax return, a personal bank statement and a copy of the cash book will be required to confirm his income.

When the borrower's parents are his guarantors, it is necessary to provide a document confirming the fact of their relationship with the client.

A package of documents for the pledged object

For the construction of a residential building, a mortgage loan is provided against the security of one of the objects:

• apartments;
• land plot where the construction object will be located;
• real estate that will be built or purchased.

In the case of taking out a loan secured by an apartment for the construction of a house, the following documents must be submitted when submitting an application:

• original certificate of ownership of the apartment;
• originals of cadastral and technical passports;
• original extract from the Unified State Register, which must be no older than 30 days, indicating the presence or absence of encumbrances;
• the original of the expert assessment report on the actual cost of the apartment;
• the original of the marriage contract, if any;
• original notarized declaration of absence of marriage.

When the borrower has received preliminary approval from the bank, he must submit the necessary documents that relate to the down payment and the construction project.

Confirmation for the possibility of making an initial payment is an extract from the client's personal bank account, which indicates the required amount or a document confirming the payment of a certain part of the construction object for which a loan is taken.

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Loan processing for building a house in Sberbank

Sberbank is the undisputed leader in the issuance of mortgages for the construction of houses. It offers its clients very favorable and affordable lending terms. However, in comparison with the purchase of finished housing, the interest rate has been increased here. Its size directly depends on the amount of the first installment and the maturity of the loan. The minimum interest rate reaches 12.5%. There are other advantages when applying for a mortgage for the construction of a private house. Sberbank provides the following conditions for lending:

• the minimum amount of the first installment must be at least 25%;
• the bank's clients are provided with the most favorable and improved conditions for obtaining a cash loan;

• when considering an application and servicing a loan, no commission is charged;
• no penalties are provided for early repayment of credit debt;
• the possibility of repaying part of the loan at the expense of maternity capital or funds provided by the state program for providing young families with their own housing;
• individual approach when considering each application;
• to get the maximum amount of money, you can attract guarantors;
• the possibility of registration of a tax deduction in the amount of 13% of the total amount of interest paid is provided;
• the possibility of issuing a deferred payment of the principal amount on the loan for a period not exceeding 3 years.

The deferral of payments on the loan is an advantageous condition, allowing the first years to pay only interest, and spend available funds on additional construction costs.

What are the conditions for obtaining a loan at Sberbank for the construction of a private house?

Since the beginning of 2016, you can get a mortgage from Sberbank for building a house only in rubles. The minimum amount of money is at least 300,000 rubles. The maximum size will not exceed 75% of the value of the future home or the price of the collateral. The missing 25% will need to be paid as a down payment.

Any mortgage has a designated purpose, therefore all funds should be directed exclusively to building a house. This is strictly controlled by the bank representatives. A loan can be obtained by both a citizen of the Russian Federation and another country. The loan repayment period depends on the age of the borrower, who at the time of repayment of the debt must be no more than 75 years old.

Continuous work experience over the past five years should be about 1.5 years at the last job. The property, which will act as collateral, must be insured at the time of loan repayment. If the loan is repaid ahead of schedule, the return of funds for the unused period of insurance is provided.

With monthly loan repayment, you can deposit any amount of money that must exceed the amount established by the contract. Payment of the final amount in case of early repayment is carried out at the request of the borrower only on a weekday.

Interest rates in 2017 for obtaining a mortgage at Sberbank for the construction of a private house

The interest rate is calculated based on the period of the mortgage issue and the amount of the first installment. It can be changed by the decision of the bank's management, however, this is possible only at the stage of loan processing. After the loan agreement has been concluded, the possibility of a change in the loan rate is excluded.

When the first installment is 50%, the percentage depends on the loan period. The minimum amount is 12.5% ​​if the loan is repaid over 10 years. The percentage reaches 12.75% for a lending period of 10-20 years. If a cash loan is issued for a period of 20-30 years, the interest on the loan is 13%.

If the size of the initial payment varies from 30 to 50%, then the interest rate for the crediting period up to 10 years is 12.75%, 10-20 years - 13% and 20-30 years - 13.25%. In case of a minimum installment of 25%, the interest is 13%, 13.25% and 13.5% for the aforementioned loan periods, respectively.

Important! These interest rates are relevant for borrowers with a salary card at Sberbank. For others, these figures will be increased by 0.5%.

If the client refuses to insure his health and life at the request of the bank, the percentage increases by 1%. In any branch of Sberbank, you can calculate a loan for building a house with the determination of the exact amount and interest rate absolutely free after submitting an online application.

Conditions for obtaining a loan at the Russian Agricultural Bank for building a house

Rosselkhozbank does not have separate programs for each loan facility. The conditions are set individually, taking into account the request and qualities of the borrower. A mortgage can be obtained by a Russian citizen aged 21 to 65 years, who has a permanent job and a stable financial income. The total work experience should be about 5 years.

A loan for building a house is provided for a period of 3 to 25 years. Long-term repayment does not incur interest, commissions and penalties. The initial contribution must be at least 15% of the total. The minimum amount for a mortgage is charged from 100 thousand rubles, the maximum depends on the borrower's income and is charged no more than 2 million rubles.

Any insured property can act as collateral. When concluding a contract, you can attract up to three guarantors. The interest rate at Rosselkhozbank ranges from 7.5% to 13%. The most profitable solution is a government-supported program. Here the interest on the loan is only 11.3%.

Rosselkhozbank provides an opportunity to issue a loan for the construction of a house against maternity capital, which can be used as an initial payment or to repay the loan body. However, no preferential terms are provided here. To use this program, you must submit an application to the Pension Fund with a request to dispose of funds to pay off the debt under the loan agreement. After the approval of the application, a certain amount will be automatically credited to the account under the loan agreement, which will serve as the basis for recalculating monthly payments.

It is possible to calculate in detail a loan for building a house in Rosselkhozbank in any of its branches, where there is an individual approach to the client. A bank employee will inform you about possible options for obtaining a loan.

VTB 24: mortgage for the construction of a private house

The bank has a special program that allows you to get a mortgage secured by a plot of land. The main condition is that the land for construction must be privately owned by the borrower, who must have the appropriate document in his hands.

The bank issues a loan from 6 months to 30 years in the amount of 490 thousand rubles. up to 5 million rubles. The interest on the loan is 12.75%, but in case of overdue payments it can reach 17.15%. Based on this program, in order to obtain a mortgage for the construction of a house, VTB 24 does not require an initial payment. It also does not take into account the borrower's income. The online application will be reviewed by the bank within 3 days.

A loan can be obtained by a citizen of the Russian Federation aged 21 to 60 years, who has worked for at least one month at the last place of work. The collateral can be land or real estate on it, which has been insured.

Important! These conditions are valid in Moscow. In other cities of Russia, conditions and interest rates are subject to change.

VTB 24 grants the right to receive a cash loan for the construction of 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 is no less than 17%.

Helpful advice! A cash loan is inappropriate, so the received money can be used not only for building a house.

The application can be made on the bank's website, by phone or at any of its branches. The borrower will be notified of a positive decision by SMS. Next, you need to provide a list of documents, and on the third working day you need to get a cash loan. If the borrower is a salary borrower, you can get money on the day of filing an application, which is considered immediately.

Do other banks give mortgages for building a house?

For the construction of a country house, a mortgage can also be obtained from Gazprombank, which provides customers with the opportunity to borrow from 300 thousand to 4.5 million rubles at 15% per annum, for a period of up to 30 years.

The borrower submits all the required documents, the list of which must include a document certifying the ownership of a plot of land intended for future construction. The design documentation for the house must be completed by an official building organization that is licensed. A bank representative carefully checks the borrower's solvency through his credit history. After receiving a positive response to his application, the client can expect to receive the first part of the money, which has an exclusively intended purpose.

Raiffeisen Bank makes it possible to obtain a non-target loan at 17% per annum for a period of 15 years in an amount not exceeding 60% of the value of the pledged property, but not more than 9 million rubles.

Rosbank issues mortgages for various types of housing, including a loan for the construction of a turnkey house for 25 years. Here the percentage is from 11.75%. The bank accepts exclusively its own real estate as collateral. Land plot or not completed for such purposes is not suitable. The initial contribution must be 15%, or 10% for members of preferential programs.

Obtaining a mortgage for the construction of a new private house is the most appropriate solution for those who do not have sufficient financial ability to purchase housing for their own money. This is a profitable, but at the same time risky operation that requires compliance with certain conditions. Therefore, you should be aware of the various options for obtaining a loan from different banks in order to choose the most suitable and acceptable offer for yourself.