Today, borrowers have the opportunity to take out a mortgage not only for the purchase of an apartment, but also to buy a private house on credit. However, in this case it will be more difficult to get the bank's approval, since such lending is associated with increased risks.
Initially, you need to decide on the property, as well as the optimal mortgage program. Today, almost every large bank has an offer for a mortgage for a private house.
Banks' requirements for the property
With regard to the object of lending, the main criterion for approving a mortgage is the liquidity of the building, i.e. the ability to sell it at any time without a serious loss in value.
Assessing the prospect of a loan for the purchase of a private house, banks take into account a number of parameters. Among them - the material of the foundation and load-bearing walls. It is assumed that brick houses made of bricks or concrete blocks are more durable. Therefore, it will be quite problematic to take out a loan for a wooden house. Difficulties with the approval of a home loan may arise for those wishing to purchase economy class housing.
It is desirable that the house be equipped with the communications necessary for living, should be suitable for permanent residence and be located in the region of the bank's presence.
It is also important that the borrower has ownership of the land. At the same time, it should be designed for individual housing construction.
Conditions for the provision of a mortgage for the purchase of a private house
For the purchase of an apartment, banks issue a mortgage for a period of 5-25 years with a down payment of 10 to 40%. Interest rates are 11-13%.
The size of the down payment when purchasing a private house on credit ranges from 40 to 60%.
At the same time, the conditions for granting mortgage loans when purchasing a private house are less favorable. The average rate is 14-15%, which is 2-3% more in relation to the classic mortgage.
At the same time, such loans often require collateral in the form of other real estate.
List of documents for obtaining a mortgage for a private house
To register a mortgage for a private house, banks require two groups of documents directly related to the property, as well as confirming the income and solvency of the borrower. An indicative list of documents includes:
- documents of title;
- cadastral plan and passport;
- technical certificate;
- original extract from the USRR;
- report from an independent appraiser.
- certificate of salary in the form of 2-NDFL (for the last 6 months);
- pension certificate, TIN;
- passport of the guarantor;
- an extract from the borrower's account, confirming the presence of the initial payment.
The list of requirements and the requested documents vary depending on the bank.
