A construction loan is usually taken by individuals who are looking to transform their home or build a new one. There is no single target program for obtaining such a loan in banks, since this market in our country is not yet developed. Credit organizations are afraid of the risks associated with the issuance of loans for construction, since in this regard, prices are rather volatile.
Instructions
Step 1
Prepare a package of documents that you will need to obtain a construction loan. It consists of documents proving the identity of the spouses; taxpayer certificate of the borrower; SIK; certificates from the place of work and registration. Get an extract from your pension account and a copy of your work record book at the company.
Step 2
It is also necessary to make a certified copy of the certificate of marriage and birth of children. A similar package of documents will be required from the co-borrower or guarantor. It must be remembered that when applying for a loan for the construction of a bank, it requires documentary confirmation of all income, therefore salaries, certificates of bonuses, benefits, alimony, rental income, received dividends, etc., are suitable.
Step 3
Collect documents related to the land plot, as well as a plan for future construction. Banks require the land to be located closer to the city and be vacated at the time of application. When building a house, it is advisable to use monolithic blocks, bricks, rounded and glued beams, foam concrete. Submit your building permit documents to the bank, which can be obtained from your local architecture authority. Draw up an architectural and planning assignment.
Step 4
Conduct an appraisal of the land. It is necessary to use the services of an appraiser holding a state license. Submit a report on the assessed value to the bank. The size of the loan depends on this value, since the land plot will act as collateral for lending.
Step 5
Insure the land and real estate on it, as well as your life and health. Get a building loan from the bank. In case of refusal, you will be provided with detailed explanations and reasons. If the amount required for construction is small, then it will be more profitable to issue a regular consumer loan. It is easier to get it as it requires a lot less paperwork.
