In the modern world, people are increasingly borrowing money, while leaving something as collateral. This is done so that in case of non-payment of the amount taken, the creditor can take the debtor's property. On bail, you can leave real estate of a commercial or residential type.
It is necessary
- - Application form for a loan secured by real estate;
- - passport and a copy of the passport;
- - certificate of income in the form of 2-NDFL or in the form of a bank;
- - certificate of registration with the State Tax Inspectorate (TIN);
- - insurance certificate of state pension insurance;
- - a certified copy of the work book;
- - certificate of marriage or divorce and notarized consent of the spouse (s) of the owner of the property, acting as collateral;
- - copies of documents that confirm your ownership of the collateral;
- - documents for pledged property;
- - documents on other financial obligations (if any).
Instructions
Step 1
It is possible to take out a loan secured by real estate in two ways: from a private investor or in a bank. But when a person wants to get money for a while, mortgaging real estate, questions arise that cannot always be answered:
• Can everyone get such a loan?
• Why is this loan dangerous?
• What papers do you need for registration?
• Need to view your credit history?
• What types of collateral agreements are there?
• What is a collateral loan?
• And which of the two methods is more beneficial for you?
Step 2
What is a secured loan?
Loans secured by real estate are real money that the borrower can receive only if he confirms that he is a financially wealthy person by leaving a collateral. It does not matter for the creditor what he needs this money for, the main thing is to provide the property for collateral.
You do not need guarantors for collateral, because you provide collateral. It can be any real estate, provided that it is your property. In the event that you cannot return the funds taken, the collateral is sold, and the money from the sale goes to close your debt.
Step 3
To obtain this type of loan, you must personally own the collateral. The property is appraised by the bank itself even before you conclude an agreement, while specialized appraisal companies are not involved in this. But if the borrower wants to obtain a refutation or confirmation of the assessment, he can turn to independent companies, but he will have to pay from his own wallet.
In the event that the price of the item is approved in the agreement, the borrower does not have the right to change the value of the item pledged until the end of the loan agreement.
Step 4
The main disadvantage of this type of loan is that there are auxiliary procedures for registration of the collateral object and, in general, in its need.
When applying for a loan secured by an apartment, you should not lose sight of certain conditions. You will have to provide papers confirming that the borrower owns this property. In addition to all this, the borrower must have a cadastral passport of the land plot and the technical passport of the object.
Step 5
The following requirements are imposed on the collateral object:
• The item must not be the subject of legal proceedings or under arrest.
• The property must be in a fit for use condition.
• In case of redevelopment, you need to provide papers confirming this.
The cost of the mortgaged item plays an important role - it should be 40-50% more than the loan amount. The greater the difference between the loan amount and the cost of the property, the higher the chance that you will get a loan.
Step 6
Where to get a loan secured by real estate:
• Help from a private organization.
• Bank assistance.
Step 7
First option: contact a private investor
This method, as always, has its disadvantages and advantages:
• The length of time for which money is issued - up to one year. You can extend the maturity of the loan. There is a possibility of obtaining a loan for a longer time.
• The size of the loan is 40-70% of the property price on the market. There is no maximum limit. The appraisal is carried out by the private investor himself.
• It is possible to repay the loan in advance, but only if the borrower pays interest for 3-4 months.
• Registration of the transaction takes place directly through a notary.
• If the object is commercial, then the registration takes up to 15 days, but when the mortgaged object is an apartment, then the registration takes only two days.
• Proof of your income is not required.
• No need to officially work.
• There are no strict age restrictions.
• Nobody is interested in the borrower's credit history.
For example, to decorate an apartment, whose cost on the market is about 3.5 million rubles, you will have to pay from 35 to 40 thousand rubles. Payment obligations are assumed by one of the parties, depending on how it is specified in the contract.
Step 8
Method two: contact the bank directly
• You can take out a loan for no more than 20 years.
• The size of the loan received is from 50% to 80% of the price of the pledged object on the market. The minimum amount is 500 thousand rubles. It is important that the pledged property is subject to assessment and insurance against all kinds of damage by the bank's partner campaigns. Although the borrower will have to pay the cost of all expenses.
• There is always an opportunity to pay off the debt before the deadline specified in the contract.
• Interest rate
• Rigid age limits (the borrower must be at least 21 years old and not more than 75 years old).
• Credit history must be positive.
• Must have a formal job.
• You will need to provide a statement of income to prove your income.
• An example of a transaction: form - notarized or written (at the request of the client).
• If the borrower is married, the consent of the husband / wife must be obtained. Notarial form.
Step 9
When the owner of an immovable property is married, his wife (husband) must provide her permission, which will be certified by a notary. Each rule has an exception, so here it is property acquired before marriage, donated or inherited.
As the pledged property, you can provide:
• Small retail space or market space;
• Places of public catering;
• Various offices;
• Property, land.
Step 10
The stop factors can be:
• Shareholders - citizens who have not yet reached the age of majority (18 years old).
• Mortgaged object, which was issued by power of attorney.
• Objects that cannot be inspected.
