More and more people dream not of cramped apartments in high-rise buildings, but of spacious private houses without repairmen neighbors and other unpleasant moments. The number of mortgages that people take out to build their homes has doubled. Therefore, banks are developing new programs for such loans, reducing interest rates due to the greater number of competitors.

Mortgage for the construction of a private house: conditions

The conditions are practically no different from the conditions for obtaining other loans.

• Age not younger than 21 and not older than 75 (the upper limit varies from bank to bank).
• The borrower must have a regular income, for which a certificate from employment is provided.
• Of course, the job must be official, you must work in it for at least six months, the total length of service is at least a year, only the last five years are taken into account.

• Availability of a certain amount for a down payment. In this case, the contribution is usually higher than when purchasing a finished home. This can be explained by the fact that the bank takes a certain risk by investing in a house that does not yet exist.
• Availability of collateral. Since there is no house yet, it is not registered, there must be other real estate that the bank will accept as collateral while the house is being built. This could be the land on which construction is taking place, other finished housing, or the house itself, if it is almost completed, and a loan is taken out to complete the work.

Before taking out a mortgage to build a private house, carefully assess your capabilities and... It is not advisable to take out more than you need due to the rather high interest rates.

As soon as the house is completed, you can come to the bank and renew the contract, making this very house collateral. Then the bank will recalculate the interest and offer you more favorable conditions.

Despite the fact that entrepreneurs usually earn much more than employees, taking out a mortgage loan is a real problem for them. A mortgage for the construction of a private house for individual entrepreneurs has a number of features. Firstly, the individual entrepreneur has no salary and no income certificate either. This is such a strange fact: entrepreneurs are essentially unpaid, their income depends on business development, tax deduction, etc. Banks believe that their solvency is much more questionable than that of public sector employees, for example.

Financial institutions seek to protect themselves from risks, so they increase the interest rate for such borrowers. However, Sberbank and VTB24 are not inclined to impose any different requirements on entrepreneurs than on any other borrowers. Although individual entrepreneurs who use a simplified taxation system fall into a special category, since it does not allow income to be calculated. They are given loans with particular reluctance.

The bank may require a huge number of additional documents: statements, certificates, business reports, declarations, etc.

Mortgage for the construction of a private house: documents

The papers required before obtaining consent differ slightly from bank to bank. This is a questionnaire, passports, income certificate, etc. After loan approval, documents may be changed and supplemented.

• Passports of all parties to the agreement, that is, yours, your spouse, those who are co-borrowers and guarantors. Copies with registrations;
• A certificate from your place of work indicating your income, if the salary is not received on the card of this bank;
• All papers relating to the collateral (certificate of ownership of land or other housing);
• Construction plan for the future house and other documents for it;
• Down payment (proof that it exists);
• Marriage and birth certificates if required.

The bank may require some additional papers on an individual basis (certificate for maternal capital, certificate of account status, military ID, etc.)

Don’t think that the bank takes your word for it, issues money and forgets about you, as long as you pay correctly. Credit institutions monitor very closely where their money is spent, so you won’t be able to spend it on anything else. For this purpose, the bank may not issue the whole amount, but pay it in parts as the work progresses, and also require the presentation of documents confirming that the money was spent specifically on the construction process: a contract for the work, an estimate, etc.

Sberbank: mortgage for the construction of a private house, conditions

The constant leader in issuing mortgages, Sberbank, offers quite favorable lending conditions, but still increases the interest rate compared to the purchase of finished housing. When you take out a mortgage to build a private home, the interest rate depends on how large the down payment will be and how long you plan to pay off the loan. The shorter the term and the higher the contribution, the lower the interest. For example, if you take out a mortgage for up to 10 years and pay off more than half the cost of the home at once, your interest rate will be 13.5%. Whereas for a period of 20 years it will be 13.75%.

Sberbank does not issue loans for construction below 13.5% per annum. The amount must be at least 300 thousand and no more than 70% of the total cost of housing. The interest increases under certain conditions: if the salary is credited to the card of another bank, the borrower’s life is not insured, etc.

A mortgage for the construction of a private house in Sberbank requires compliance with the same conditions as for the purchase of housing: age of at least 21 years and not more than 75 years, work experience of at least six months, availability of a down payment, etc. The legal spouse necessarily acts as a co-borrower. There is a separate program for young families, which offers more favorable conditions. There is no processing fee.

Loan for the construction of a private house: Rosselkhozbank

It should be said that Rosselkhoz Bank does not create separate programs for each lending object. The conditions are formed individually, based on the qualities and requests of the borrower. The down payment must be at least 15% of the cost of housing. The duration of borrowing is slightly lower than at Sberbank - a maximum of 25 years. The amount can range from 100 thousand to 2 million rubles, depending on the borrower’s requests and income. The borrower's age must not exceed 65 years.

You can attract up to 3 co-borrowers. Home insurance is required. The collateral can be the right of claim, the house itself after it is ready for occupancy, as well as other real estate. The percentage until the house is completed is usually higher. After renewing the contract, the conditions become more favorable.

A mortgage for the construction of a private house at Rosselkhozbank allows the use of maternity capital funds in any capacity: as a down payment or as a means of repaying a loan. Young families after the birth of a child are given a 3-year deferment, when they only need to pay interest and not the principal.

If you take out a loan in installments as you complete construction stages, this solution will be most profitable for you. Interest is calculated only on the amount received. In this way, the bank protects itself from risk, and you reduce your payments. When a mortgage is issued for the construction of a residential building, Rosselkhozbank carefully ensures that the money is spent specifically on construction work. Bank employees may request your documents, regardless of whether you build it yourself or contact a company.

Mortgage for the construction of a private house: VTB 24

The bank offers its clients a program called “Construction of a house secured by a land plot.” The name itself contains a requirement: the land must be owned by the person wishing to receive a loan at the time of submitting the application.

You can count on an amount of 490 thousand rubles. Interest rate from 12.75%, term – up to 30 years. The undoubted advantage of this program is that the bank does not require a down payment, a registration fee, does not check your income and quickly reviews applications within 3 business days. However, the requirements are also high and quite severe penalties are implied for late payments. The interest rate is also considerable; under certain conditions it can reach 17.15%.

The borrower's age must be between 21-60 years. He must have worked at his last job for at least a month.

Property insurance is required. The land and all buildings and structures on it act as collateral. It is worth remembering that these conditions exist mainly in Moscow; in other cities of Russia, requirements and rates may change.

Mortgage for the construction of a private house: Gazprombank

Gazprombank undoubtedly has its advantages. It is a reliable financial institution. The bank offers everyone who wants to build their own home a loan of 15% per annum for up to 30 years. You can take a minimum of 300 thousand rubles, a maximum of 4.5 million rubles.

Like any bank, Gazprombank will carefully study all documents on the future home, plans, projects, and their compliance with standards. After all, until the end of payments, the house will be pledged to the bank.

After submitting the application, the bank client must present documents confirming that he is the owner of the land plot, which can be used as collateral until the completion of construction work.

The house project that you submit to the bank for verification must be completed by an official construction company that has the appropriate license. The documents must have all the necessary seals and signatures.

The borrower must be a citizen of the Russian Federation from 21 to 65 years old with at least a year of work experience. The client's solvency will be checked not only through a certificate of income from the place of work, but also through a credit history. Only after assessing and checking all the documents, the borrower receives a final answer and can search for a construction company that will carry out the work on an official basis.

Mortgage for the construction of a private house: Raiffeisen and Rosbank

Raiffeisen Bank does not have a separate program for building a house, but it is possible to take out a non-targeted loan secured by existing housing and spend it on construction or repairs at 17% per annum.

The terms of such mortgages are short, up to 15 years, but the amounts vary - up to 9 million rubles. In this case, the amount issued should not exceed 60% of the value of the mortgaged housing.

Rosbank is also one of the largest banks. It offers mortgage loans for almost all types of housing.

Rosbank issues a mortgage for the construction of a private house on the security of existing real estate. Land is cheaper than an apartment or house, so Rosbank does not consider land alone as collateral. If you do not own any housing, you will not be able to get a construction loan from this bank. The interest rate starts from 11.75%, of course, it can increase depending on the specific situation.

Before receiving money, you need to deposit at least 15% of the cost of housing. The loan is issued for a period of no more than 25 years. This also takes into account the age of the potential borrower (no more than 64 years at the end of payments, no less than 21 years at the time of application), and his income.

Rosbank does not work without a down payment. A client participating in a certain preferential program must contribute at least 10% of the cost of housing or use existing maternity capital for this purpose.

Mortgage for the construction of a private house: maternity capital

The money allocated by the state after the birth of the second child can be used as a down payment (if 3 years have passed) or as a means of repaying the loan (at any time). This money cannot be spent on purchasing a plot of land necessary for the construction of land. You also cannot build a dacha using capital. The site must be allocated for the construction of a residential building only.

In this case, you must first provide documents to the Pension Fund so that you are allowed to use the capital. Send a certificate of ownership of the land, a building permit, an agreement with a construction organization (if you are building on your own, then no need). After completion of the work, the house is registered in the name of all family members.

Matkapital can be transferred to a contractor or to your personal account if you are building a house yourself. In the second case, the full amount is not transferred. First you receive half, and after six months, if you provide evidence that you built the house, you will receive the rest.

A mortgage for the construction of a private house for a young family has its advantages. Banks often provide various benefits in the form of a lower interest rate and a lower down payment. In addition, if you give birth to a child, you may be given a deferment of 3 years. If the child is your second, and you took out a construction loan before his birth, you can spend maternity capital to repay the loan immediately after receiving the certificate in hand.

A mortgage for the construction of a private house without a down payment is possible, but not all banks agree to this. You will have to pay at least a minimum percentage of the cost of housing. Banks do not recommend taking out another loan for this purpose, so as not to end up in a dire financial situation later. Banks may agree to issue a loan without a down payment if you have already taken out a mortgage to build a house from another bank and the interest was too much for you. In this case, all your documents will undergo a thorough check. The bank must make sure that you need this loan to pay off the previous one. And of course, most banks accept capital as a down payment.

A huge number of people dream of owning their own beautiful home outside the city. But, unfortunately, financial opportunities often do not contribute to the realization of this dream. A mortgage to build a house gives you a real chance to start building your home. Despite the fact that many people associate the phrase “building a private house” with something financially unaffordable, compared to buying an apartment it can be less expensive.

Many citizens mistakenly believe that a mortgage can only be issued for the purchase of a finished house or apartment. At the same time, this type of loan is also issued for the construction of a house.

In this article we will look at what a mortgage for building a house is, its types and design features.

Features of obtaining a mortgage for construction

Mortgage, as one of the types of credit products, is the most expensive and represents the maximum financial risk for the bank. A large loan amount and a long loan term force banks to make special demands on borrowers.

It should be said right away that the bank’s consent to issue a mortgage for the construction of a house is much more difficult to obtain than a mortgage for the purchase of finished housing.

What is this connected with? All with the same financial risk. The fact is that by providing a large loan for finished apartments, the real estate under the terms of the contract is collateral, which reduces the likelihood of the borrower not repaying the loan.

This allows the bank to offer the most favorable conditions to the borrower and extend the loan term. Building your own house for a bank involves a certain risk. The site itself on which the cottage is planned to be built does not have the liquidity of the collateral that the loan itself is valued at. Therefore, it is difficult to talk about the collateral property of the unfinished house itself in this case.

But banks often act differently. They provide construction loans secured by the borrower's personal property.

From the point of view of the requirements that banks impose on borrowers, a mortgage for the construction of a house is no different from a mortgage for the purchase of a finished house. However, the interest rate and the amount of the down payment required under the loan program may differ.

If you compare two mortgage products at Sberbank of Russia, the difference between them will be 0.5% in favor of purchasing finished housing. In addition, the client will have to provide a liquid loan for the entire loan period, which is difficult for many.

In the case of obtaining a mortgage for finished housing, the real estate itself can already act as collateral.

But VTB-24 offers more favorable conditions to borrowers who want to take out a mortgage for construction. The bank allows you to specify the land plot on which the development will take place as the main collateral. But at the same time, at the time of the transaction, the land plot must already be owned by the borrower, and not be registered under a mortgage.

Buy or build?

If you still haven’t decided for yourself what is more profitable: purchasing ready-made apartments or taking out a mortgage for construction, let’s compare both options to find the optimal solution.

Advantages of a mortgage to build a house

Many people today are much more willing to choose a mortgage to build a house than to purchase a finished cottage. Possibility to independently select a site, layout, etc. allows a person to build the home of his dreams. And all costs for materials, work and approvals are covered by the mortgage amount.

Also, such programs require an independent choice of developer. Sometimes large construction organizations cooperate with banks, which makes it possible to obtain a loan on preferential terms.

According to statistics, banks do not issue loans without collateral in 99% of cases. As a rule, large real estate is subject to assessment: dacha, apartment, car, house. It should be taken into account that the loan cannot exceed 70% of the value of the liquid property.

Features of mortgage lending

A mortgage for the construction of a house is a targeted loan and can be issued in tranches. What does this mean?

Considering that construction will be carried out in stages, the client does not need the entire loan amount at once (as in the case of purchasing finished housing). What is the point of paying interest on a mortgage of 1-2 million rubles when you can take out a loan in three installments over 5 years. This will reduce the overpayment percentage and financial burden.

Of course, you can apply for a loan more than once, taking out small amounts, but you will have to go through the transaction process each time, which takes a lot of time and nerves.

In the case of periodic loans, the agreement will remain the same. But, according to the terms of the main document, every year, for example, the client will receive an agreed amount of money into his account. Accordingly, the payment schedule for the year is calculated based on the amount of this amount, and not the entire debt.

How will we pay?

Which loan repayment option is better to choose? Today banks offer two types of loan repayment: differentiated and annuity.

The essence of the differentiated option is that every month the principal debt is reduced by a certain amount, and interest is charged on the remaining debt.

At the beginning of the debt repayment period, the client has to pay the largest amounts, which will decrease every month. For this reason, despite the economic feasibility, many clients refuse this repayment schedule option. An uneven financial burden does not allow you to correctly distribute your strength and take out a mortgage for a period of 5-10 years.

It is worth noting the speed of loan repayment when choosing the main type of payment. The faster the loan is repaid, the less amount you will have to overpay for using the loan funds. In the case of differentiated repayment, the amount gradually decreases, but the annuity one equally calculates the entire amount based on interest.

An annuity payment involves paying off the debt in equal installments every month. Many clients choose this payment option for its simplicity and transparency.

In addition, it allows you to distribute the entire financial burden of the debt evenly and gradually repay the loan to the bank in installments. At the same time, it is easy for the client to keep in mind the monthly payment amount specified in the contract and at the same time calculate his other expenses.

Requirements for borrowers from banks

As mentioned above, mortgage lending for the construction of a house represents the maximum financial risk for the bank. That is why credit institutions place increased demands on borrowers.

Some banks do not lend to persons with temporary registration, but Transcapital, VTB 24 and Raiffeisen issue mortgages to foreigners.

In this case, the client will need to provide a national passport of the state of which he is a resident. Information from the passport must be translated into Russian and notarized.

When applying for a mortgage to a credit institution for the first time, you will need to fill out a borrower’s application, indicating the required loan amount. Each bank issues its own application, which may contain a variety of questions.

The bank needs this data to carry out the standard scoring procedure. This is a screening algorithm that takes into account the overall financial risk of a potential transaction and determines the level of solvency of the borrower.

Each bank has its own requirements for a credit score, but, as a rule, the program takes into account the following data:

• client age;
• specialty and qualifications;
• place of work and length of work experience;
• Family status;
• availability of additional income.

As for documents confirming income, the ideal option is to provide a 2-NDFL certificate, which is issued by the accounting department. But in fairness, it is worth noting that many citizens today receive so-called “gray salaries” in envelopes, so they cannot officially confirm their income.

The certificate must be signed by the chief accountant or director. If the certificate is signed by the responsible person under a power of attorney, then the bank employee may ask you for a copy of the power of attorney in addition to the certificate.

Some banks do not accept any document other than the 2-NDFL certificate, but banks such as VTB-24, Raiffeisenbank, Metallinvest also consider other forms of income confirmation.

In order to obtain a mortgage for the construction of a house, you must provide the following package of documents:

• passport of a citizen of the Russian Federation (original and copy);
• TIN (original and copy);
• Availability of registration in the Russian Federation (or temporary registration);
• borrower's application;
• document on property (which acts as collateral);
• certificate 2-NDFL (document confirming official income);
• a copy of the work book (all pages certified by the HR department).

Additionally, some credit institutions may require the following documents:

• driver's license (copy and original);
• international passport;
• military ID;
• marriage/divorce certificate;
• documents confirming additional income.

Mortgage amount and loan term: what to expect?

Of course, each bank has the right to set its own lending conditions when developing mortgage products. But in this article we have collected standard conditions for a mortgage for building a house, which can be found today in the domestic banking market.

Typically, the bank issues a loan in the amount of 20-85% of the total mortgage amount. In the case of a construction loan, you will need to provide an estimate indicating the total amount.

The mortgage can be issued for a period from 5 to 30 years, depending on the required amount and the level of income of the borrower. The mortgage provides for an individual approach, because we are talking about a long period and the bank is, first of all, interested in full repayment of the debt. Therefore, the bank will not deliberately reduce the loan amount, increasing the monthly financial burden, which will obviously be difficult for the client to repay.

In addition, everyone knows that banks receive the main profit from credit products, so they are interested in a long period of validity of the agreement. Therefore, if the borrower feels that the payment schedule calculated according to the standard scheme is difficult for him, it is better to immediately tell the loan officer about this and ask for a different calculation. In some cases, banks may accommodate and give the client the right to choose the payment method: annuity or differentiated.

The rate depends on the selected bank and may vary depending on the package of documents provided. The lower the financial risk for the institution, the better the rate it can offer the borrower.

Also, the interest rate may be influenced by factors such as the loan term, conditions, and the size of the down payment.

The interest rate is the first thing a client pays attention to when choosing a bank to apply for a mortgage. However, this factor is not the only factor that influences the final amount of overpayment. It is important to pay attention to commissions, additional services, insurance and penalties imposed by the bank. Sometimes the reduced interest rate is more than offset by the amount of commissions and additional services that are automatically included by the bank in the mortgage portfolio.

Mortgage process

Often, borrowers, when making decisions about applying for a mortgage, do not imagine the entire procedure for concluding a transaction.

This process can take from several days to several weeks. The longest procedure in this process is checking the liquidity of the collateral property. To minimize risks, the bank must carefully check the client’s solvency and the collateral.

The cooperation scheme depends on the chosen bank, but, as a rule, it looks like this:

Step 1. The client contacts the bank with an application for a mortgage.

Step 2. The client collects a package of documents and submits them to the bank.

Step 3. The bank decides to issue a loan.

Step 4. If the decision is positive, the collection of documents on the land plot and the selection of a construction company begins.

Step 5. The client submits the collected documents to the bank for verification. At this stage, the liquidity of the collateral property is also checked.

Step 6. Registration of documents in Rosreestr and imposition of an encumbrance on the land plot, which acts as collateral.

Step 7. Procedure for signing the contract

Step 8. Transfer of borrowed funds to the client’s current account (or to the account of the construction company).

In some cases, the loan can be made in two or three tranches. This is done for two reasons. Firstly, it relieves the client of additional financial burden and allows him to take out a loan only for the amount that is necessary at this stage of construction. Secondly, the bank reserves the right to control the intended use of money.

In this case, after the expiration of the first loan term, the client is obliged to provide the bank with financial statements on the intended use of the loan. The bank verifies and implements the second tranche.

After completion of construction, the borrower registers the house as a finished property. In the future, if the borrower needs additional funds for finishing work, the land plot becomes collateral with real estate, which significantly reduces the financial risk for the bank. For the client, this is an opportunity to receive a loan at a reduced interest rate.

How to pay less?

Considering the large loan amount and long loan term, many banks offer clients to reduce their financial burden and arrange a deferred payment of the principal debt. This allows the client to pay the bank only interest for using the loan for 2-3 years. Considering that the construction process is always associated with unforeseen financial expenses, for many clients this is a real opportunity to take out a mortgage and not get into debt dependence from the very first months.

Video. Nuances of obtaining a mortgage for construction

Conclusion

Considering all the mortgage lending conditions described above, for some borrowers a regular consumer loan may seem like a simpler and more profitable solution. But this type of lending also has its drawbacks.

The amount of a consumer loan rarely exceeds 1-1.5 million rubles. And the maximum loan term will be 5-7 years.

Video. Mortgage for building a house

If you are tired of living in a city concrete box and want freedom, start building a house with a mortgage program.

Purchasing a home is one of the most important purchases for any family.

Most residents of big cities are beginning to seriously think about moving to a quieter place, outside the city.

Here we are talking about a complete move, with permanent residence. There will be clean air all around, no neighbors behind the wall, as well as various earthly blessings such as a river, lake, reservoir.
For example, for the same money, instead of a 2-room apartment, you can build a beautiful country house, which will be 1.5-2 times larger in area than an apartment. Also, depending on the size of the plot, over time it will be possible to complete a bathhouse, a gazebo, make a swimming pool, add a garage, and on the remaining part you can plant trees.

Who would refuse to live in such a house? And all this away from the boring city bustle.

Loan for construction of a summer house

Of course, not everyone needs a full-fledged country house. Most people just want to have a small country house or garden house. In this case, you can also take out a loan.

Sberbank offers a loan for the construction of suburban real estate, for its purchase, as well as for the purchase of land. The minimum amount is 300,000 rubles. After all, the average cost of summer cottages in the regions varies from 300,000 rubles.

If you already have a plot of land, you can take out a loan to build a country house. Such loans are issued by more reliable banks - Sberbank and Rosselkhozbank, which offer the most favorable conditions and long terms (up to 25 years).

According to the bank's terms and conditions, the following are used as collateral:

• existing real estate that is privately owned by the client;
• existing land, and the category of land should be individual housing construction;
• the acquired plot of land and the future house that will be built on it;
• client's movable property;
• maternal capital.

Are they currently offering mortgages to build a house?

Unfortunately, there are very few banking offers. A mortgage for home construction is one of the riskiest types of mortgages for a bank, which is why the requirements are more stringent.

The main risk is the case of unfinished construction, which automatically reduces the liquidity of this building to a minimum. To compensate for its risks, the bank requires a maximum of collateral obligations, and co-borrowers are often required.

Let us recall that the December 2014 instability in the banking sector forced almost all banks (including Sberbank) to curtail mortgage lending programs for home construction. Only on May 29, 2015, information appeared on the Sberbank website about the resumption of the mortgage lending program for a private home called “Construction of a residential building.”

Requirements for the construction site

Unfortunately, you can't just walk into the bank and ask for a loan to build your dream home.

The bank must make sure that your construction is a realistically feasible process, and also that there will be no problems with putting it into operation in the future. You will have to convince the bank of this, and this is done not with colorful speeches, but with real documents in the form of permits, plans, projects and approvals.

The construction of a house must take place according to the procedure established by law. Initially, you need to obtain all permits, order a project that needs to be approved, so that after completion of construction, when putting the house into operation, there will be no problems.

The bank pays special attention to your land plot. If it is your property - great, but if it is leased - also not bad (the only thing is that then it cannot act as collateral). The land plot must be suitable for housing construction. It’s good if there are already utilities connected to the site. Documentation on the land plot must be as complete as possible and ready for registration of ownership of the object. If construction work has already begun on the site, and at least the foundation has been erected, then in order to obtain a mortgage it is necessary to register the unfinished construction project.

Site requirements:

• The land plot must be located at a certain distance from the location of the creditor bank;
• The category of land of the plot being pledged must be exclusively “land of settlements” and intended for individual housing construction, farming or dacha construction;
• The site should not be under encumbrance;
• If there are buildings and structures on the land plot, the borrower's ownership of them must be reflected in the Unified State Register of Rights to this real estate;
• If the land plot is owned by shared ownership, then all owners will be required to act as mortgagors.

Methods of financing the construction of a house using borrowed funds

Targeted loan for construction.

It’s quite difficult and long, there are a lot of nuances and obstacles. You can receive the first tranche of money, clumsily confirm its use and lose the second part of the money. This could freeze construction. This option also requires confirmation of the availability of a down payment. The bank can only give 70-80% of the estimated cost of the future home.

Loan secured by land.

If you already have a plot of land, this greatly simplifies the matter. Of course, they won’t give you a lot of money for the plot. But this could be an additional source. Perhaps you have additional savings, which will also make construction easier.

Loan secured by real estate.

This is a more serious step. You can mortgage, for example, your apartment to obtain a significant amount of cash. Banks approve a maximum of 80% of the market value of the apartment being pledged. This amount may be enough to fully finance the construction.

Loan secured by transport.

If you pawn your transport, you can also get a good amount. You need to remember that the bank will value the car at 60-70% of its market value. At the same time, there are both loans from car pawnshops and from banks. Loans secured by transport are ordinary non-targeted loans with collateral. They are available in almost every major bank.

Use of maternity capital.

It can also be used for construction.

Consumer loans without collateral.

It is possible and even better to apply for several loans. Construction is an expensive business. It’s good, of course, if you have savings. Again, they won’t give you a large amount of money unless you give the bank something as collateral. If you do not want secured loans, then you can offer the following scheme: your own savings + consumer loan for 1-2. You have built part of the building, paid off the loan, and take out a new one. Construction, however, will be delayed, but it is relatively safe from the point of view of debt servicing.

Scheme for obtaining a loan for building a house in 2017

Schematically, the process of applying for and obtaining a mortgage for building a house (Sberbank is given as an example) looks like this:

• Filling out an application to the bank;
• Providing the necessary documents for the down payment (account statement, check);
• Receiving the FIRST part of the loan money;
• Report on the amount spent;
• Receiving the SECOND part of the loan money;
• Registration of ownership after completion of construction;
• Transferring the constructed house as collateral to the bank to reduce the interest rate.

What documents are required?

Documents that will be required:

• Passports (yours, your spouse’s, as well as those who are co-borrowers and guarantors) - copies with registrations;
• Certificate from place of employment indicating income;
• All papers relating to the collateral (certificate of ownership of land or other housing);
• Construction plan for the future house and other documents for it;
• Down payment (proof that it exists);
• Marriage and birth certificates if required.

The bank may require additional papers on an individual basis (certificate of capital, certificate of account status, military ID, etc.).

Is the mortgage recipient at risk?

Many people are concerned about possible risks, which are the main obstacle when applying for a mortgage. The greatest worries are associated with the fact that in the event of a mortgage and in the absence of the ability to pay monthly installments, a person loses his own property. But this situation can be looked at from the other side. In the event that the mortgage owner loses the ability to pay monthly installments, he has the opportunity to resell the unfinished private house. The demand for such real estate is quite high for our market. And an unclosed mortgage can be easily transferred to a new owner. In this case, you will not lose absolutely anything and the risk is reduced to an absolute minimum. Taking out a mortgage is a very profitable and worthy offer for those people who need this money. Thanks to them, you can build and furnish your new home. Just be more careful when studying mortgage offers from different banks. Choose the mortgage that has the most favorable terms and conditions and will cause you the least inconvenience.

The housing problem is one of the most pressing issues among Muscovites who are looking for money to purchase real estate.

A mortgage for housing construction in Moscow makes it possible to obtain real estate in a fairly short period of time.

To obtain a mortgage loan to build a house, the bank puts forward the following requirements to the client:

• Age from 21 to 65 years;
• Stable work;
• Income. Not only the client’s earnings are taken into account, but also his family’s;
• Amount for initial deposit.
• Guarantors are needed if the client’s income does not satisfy the bank.

Banks in Moscow provide the following types of mortgage loan programs in 2020:

• standard;
• social;
• "Young family";
• for military personnel.

The client is given the opportunity to independently calculate the monthly payment using a virtual calculator, compare conditions in several banks and choose a more profitable option for himself.

Applying online for a loan in Moscow is easy, just a few steps are enough:

1. Go to the bank's website.
2. Fill out an application.
3. Send it to the bank.
4. Get an answer.
5. Collect the necessary documents and go to the bank.

How can Muscovites get a mortgage to build a house?

You need to submit a number of documents to the bank:

1. Passport.
2. For males - military ID.
3. SNILS.
4. Education documents.
5. Marriage certificate, birth documents of children.
6. Work record book from work
7. Income certificates.

When issuing a mortgage for the construction of a private house, the bank takes into account what material the client is building the house from (concrete, brick or wood), as well as the characteristics of the foundation.

Those clients who build from more durable materials have a greater chance of getting a mortgage in Moscow for building a house.

Which Moscow banks provide mortgages for housing construction to Muscovites?

Among the leaders:

• Sberbank;
• Bank of Moscow;
• Rosselkhozbank;
• Credit Bank of Moscow;
• RosEvroBank and others.

By taking out a mortgage for housing construction, the client quickly resolves housing issues. Preferential mortgage agreements that are economically beneficial to the client are a reliable investment.