A mortgage is considered a demanded offer of the bank, giving the opportunity to many citizens to become owners of an apartment or house without having the right amount of funds for these purposes. Often, a mortgage is issued for the construction of a private house. It is offered by many banks, but the conditions in them may vary significantly. It is important to understand what requirements are presented to borrowers, what documents need to be prepared, and also what pitfalls citizens may face.
Mortgage concept
It is a major loan, the main purpose of which is the acquisition or construction of housing. When applying for such a loan, borrowers face many nuances:
- a large amount of funds is issued exclusively to citizens who are solvent and have official work;
- the credit history of prospective borrowers is checked in advance;
- a pledge is required, which is usually the property being built or purchased;
- a loan is granted for a long time, which allows you to distribute a large amount over a significant number of months;
- since it is planned to build a private house, there are difficulties with obtaining a loan, therefore often banks require a guarantee or provision of additional property as a pledge.
A mortgage is offered for the construction of a private house by many banking institutions, so it is advisable to file an application with several banks at once in order to compare several options after obtaining approval and choose the best loan conditions.
Options for obtaining a loan for building a house
If you plan to build a private residential building, then borrowers can choose not only a mortgage, but also several other options that allow you to get the right amount of funds for your planned purposes. Therefore, for the construction of a residential building, the following options can be selected:
- Making a regular consumer loan. In this case, it is not required to inform the bank for what purposes the funds will be directed. The disadvantage of choosing this method is that it is impossible to get a significant amount for the long term.
- Getting a mortgage for the construction of a private house. In this case, usually banks require the imposition of encumbrance on existing real estate. Under these conditions, the institution will be confident in the repayment of their funds even in a situation where borrowers face serious financial problems.
- Mercapital mortgage. This option is only available for families with more than one child. Citizens must correctly issue a certificate for the use of mother capital. According to it, up to 450 thousand rubles are presented. This amount can be used as a down payment or to pay off an already issued mortgage.
When applying for any loan, banks insist that borrowers purchase a personal insurance policy. Therefore, at the time of death or disability, it is the insurance company that repays the existing loan.
The nuances of mortgages
Most often, citizens prefer to use a mortgage for the construction of a private residential building. It is offered by many banks, but the conditions are identical. A mortgage for the construction of a private house in Greencombank or Sberbank, VTB 24 or other banking institutions can be issued.
Upon receipt of borrowed funds, some features are taken into account:
- when issuing money, the bank requires a pledge, which is direct housing, but before its construction, the encumbrance is imposed on the land where construction is carried out;
- often the cost of the site is much less than the loan issued, therefore, the borrower has to attract guarantors or transfer his other property as collateral to the bank;
- many banks offer the possibility of phased provision of funds, therefore, after the transfer of documents confirming the construction of the facility, money will be given for further construction, and in this way interest is accrued in stages;
- before issuing funds, banks must make sure that the land belongs to the potential borrower, and there should not be any burdens on this land;
- it is allowed to borrow money for up to 30 years, and the maximum amount issued to the borrower depends on the future value of the house.
Interest rates can vary significantly between banks. They will be reduced if you contact the organization where the citizen has a salary card. Additionally, the borrower's income, his age and credit history are taken into account. When applying for personal insurance, the rate may be reduced by one or two percent.
Specificity of application of mothercapital
Mortgages for the construction of a private house can be made using the capital. If the family has a competently executed certificate, then it can be used as a down payment or to repay an already issued loan. 450 thousand rubles are issued on the basis of the document, which is considered a fairly large amount.
To arrange a mortgage loan on the basis of the capital, the following steps should be taken:
- an application is submitted to the bank, where it is indicated that the initial capital will be used matkapital;
- bank employees decide on the possibility of providing funds for the construction of a house;
- all documents are transferred to the PF to clarify whether funds will be paid under the certificate for the selected purposes;
- after a positive decision is made, the funds are transferred to the banking institution, after which the mortgage is registered.
If you apply for money to Sberbank or another large institution, then you can count on additional benefits through the use of mother capital. This is due to the fact that banks are aimed at supporting young families with small children.
Bank Terms
Before applying to the institution for money, potential borrowers should find out whether certain banks give a mortgage for the construction of a private house. Large organizations provide such an opportunity, but certain requirements are imposed on borrowers and a new home. The following are standard to them:
- the potential borrower must prove his solvency, responsibility and reliability;
- documents are transferred to the land, as well as the project of the future home;
- if necessary, guarantors are involved, therefore documents from these citizens are required.
Most often, people prefer to contact large and reliable banks.
How to get a mortgage at Sberbank?
In Sberbank, a mortgage for the construction of a private house is offered on favorable terms. These include:
- minimum 300 thousand rubles are provided .;
- the maximum amount that can be received for the construction of the object depends on the estimated value of the property being pledged;
- loan term varies from 5 to 30 years;
- down payment for such loans starts from 30%;
- surely required security provided by any valuable property or guarantee.
Other features of lending at Sberbank include the fact that funds are issued in several stages.In Sberbank, a mortgage for the construction of a private house is issued only on the security of a land plot or other property that is previously insured. An insurance policy is required to be purchased for the entire loan term.
To take a mortgage for the construction of a private house in Sberbank, you need to perform sequential steps:
- documents on collateral property are prepared;
- a project is created and other documents related to the future private building;
- documentation is transferred together with the application to the Sberbank branch;
- the application is considered within 5 days;
- if the decision is positive, you will have to come to the branch of Sberbank to sign a loan agreement;
- the borrower receives a portion of the borrowed funds;
- after the partial construction of the house, a report is generated based on which the bank employees will be able to see where exactly the funds received from the institution were sent by the citizen;
- if there are no complaints, the second part of the money is issued to the borrower;
- after the construction is completed and the house is commissioned, the documents necessary for registering the property as a property are prepared;
- in order to reduce the interest rate, the completed house is pledged.
The entire loan amount can be divided into a different number of parts, as this is affected by the size of the loan and the duration of the house. Additional conditions are individual for each borrower.
Getting a mortgage at the Rosselkhozbank
It is offered on favorable terms in the "Agricultural Bank" mortgage for the construction of a private house. When applying for such a loan, the following conditions are taken into account:
- minimum issued 100 thousand rubles .;
- a maximum of 10 million rubles is issued, but the developer must be a company that is a partner of a banking institution;
- loan term varies from 5 to 30 years;
- interest rate starts from 5.17%;
- the down payment is at least 15% of the future cost of housing.
The bank offers the opportunity to build a country house or cottage on favorable terms using borrowed funds. But for this it is important to get a plot in a garden partnership.
How to get a mortgage at VTB 24?
"VTB 24" is considered a large and reliable bank, therefore, it is often issued by citizens a mortgage for the construction of a private house. VTB 24 offers really interesting and unique conditions. These include:
- down payment is at least 20%;
- interest rate starts from 10%;
- loan term can reach 50 years;
- if the borrower agrees to take out insurance on collateral real estate and buy a personal insurance policy, this leads to a significant reduction in the interest rate.
Potential borrowers must meet numerous requirements in order to get a mortgage for the construction of a private house. VTB 24 has the following requirements for customers:
- age from 21 to 60 years;
- the presence of Russian citizenship and permanent residence in the region where the office is located;
- the ownership of any housing or land;
- confirmation of high solvency provided by official documents.
In addition, guarantors or other evidence of responsibility and good financial condition of a citizen may be requested.
How is the contract drawn up?
Banks provide a mortgage for the construction of a private house according to the standard scenario. To do this, the following actions are carried out by borrowers:
- initially, the necessary documents are collected to obtain a mortgage;
- documents should be prepared confirming the ownership of the territory where the construction is planned;
- papers on the ground, the borrower's passport, a 2-NDFL certificate, a work book and a correctly prepared application are transferred to the bank;
- if guarantors are involved, then documents are required for these citizens, confirming their solvency and reliability;
- a project for future construction is being formed;
- a scheme is being approved by the housing commission;
- an agreement is being formed with the construction company, which will be engaged in the construction of the house;
- necessary documentation is submitted to the bank;
- then you need to wait for a decision;
- if it is positive, a loan agreement is drawn up and signed;
- a mortgage on the site or other property is transferred to the bank;
- fixed receipt of money in the account;
- after the partial construction of the house, a report on the spending of received funds should be sent to the bank.
Only when the above steps are taken, a mortgage is provided for the construction of a private house. The conditions may vary slightly in different banks, so you should learn about the different nuances directly at the selected banking institution.
What documents are required to get a mortgage?
To obtain the necessary amount of funds allocated for the construction of a private residential building, potential borrowers must prepare the necessary documents. These include papers:
- passports of borrowers, co-borrowers and guarantors;
- income statements or other documents confirming the receipt of funds in the family;
- documentation for the existing plot of land where the construction of the facility is planned;
- correctly filled out questionnaire, and you can enter data even on the website of the selected bank, but at the same time only reliable information should be indicated.
If an additional property is offered to the bank as a security, then documents for this object are prepared.
Can I take a military mortgage?
A military mortgage for the construction of a private house is not offered, since under the terms of the Federal Law No. 117, this state program can be used exclusively in the following areas:
- purchase of housing in the secondary market;
- purchase of a finished private house from the adjacent territory;
- buying an apartment in a new building on the basis of DDU.
If the military family wants to build a private house, then you have to use the standard mortgage offers of banks. This is due to the fact that an unfinished house cannot act as a pledge, therefore, government agencies have difficulties with control over the intended use of the issued funds. Additionally, the military cannot insure the risks that the house will not be completed, since construction can be frozen at any time.
Conclusion
Quite an interesting offer for many people is a mortgage for the construction of a private house. Reviews about this banking product are mostly positive. Due to such a mortgage, citizens can realize their dream of a private house.
Lending conditions may vary significantly in different institutions, but as a standard, to obtain a loan you need to prepare a certain set of documents and correctly draw up an application. Funds are issued in several stages, so you will have to periodically draw up a report on the construction of the house. As a result, one can count on full-fledged construction at the expense of borrowed funds.
