What loan amount can I expect?
The Bank always approves the maximum amount that can be disbursed to the borrower and co-borrowers indicated in the questionnaire. However, the loan amount cannot exceed 85% of the value of the property you have chosen.
I was denied a loan. Why? What to do?
The bank does not explain the reasons for the refusal, as this would lead to the disclosure of the borrower evaluation system, which is a trade secret. There are potentially about twenty parameters of the borrower and co-borrowers that this system can rely on.
If the bank has refused you, you can apply for a loan again after the period specified in the accompanying text of the refusal. In some cases, you can reapply right away.
How to increase the chances of obtaining a mortgage with a small official salary?
For example, you can apply for a loan with a certificate in the form of a bank instead of a 2-NDFL certificate. An income statement in the form of a bank is an alternative document that is accepted by the bank as proof of the borrower's income, but in which additional earnings can be taken into account.
I am an aged person, will they give me a mortgage?
You can take out a mortgage for up to the age of 75. For example, if you are 65 years old, you can take out a mortgage for 10 years.
If I receive a salary on a Sberbank card?
Salary customers of Sberbank, depending on other lending conditions, may receive additional benefits. At the same time, the benefits are available if any of the co-borrowers is a payroll client.
· If in the last two months you have had at least one salary transfer to a Sberbank card or account, you can get a discount on the rate.
· If you had salary credits to the card (account) of Sberbank for at least 4 months out of the last 6 months, you do not need to additionally upload an income statement and a copy of the work book.
How can I find out the overpayment on my future loan?
You can see the amount of the overpayment by registering with personal account . After registration, click on the calculation panel and you will see the overpayment diagram in the calculator.
Is it profitable to buy a borrower's life and health insurance policy?
Life and health insurance in the insurance company LLC IC Sberbank Life Insurance or other companies accredited by Sberbank allows you to reduce the loan rate by 1%.
Considering the purchase of the policy, you will actually save about 0.5 percentage points on the rate. In addition to saving on the rate, the policy fulfills its immediate task - the insurance company will pay the bank the balance of the debt on your mortgage loan when insured event(disability or death).
I am a citizen of another country, can I get a mortgage?
Mortgages in Sberbank are issued only to citizens of Russia.
Who can be a co-borrower?
Most often, co-borrowers are relatives of the main borrower - spouse, parents, children, brothers and sisters. In total, you can attract up to 6 co-borrowers. If you are married, your spouse must be a mandatory co-borrower. Exceptions are possible if a marriage contract has been concluded between the spouses.
For example, to increase your chances of receiving a larger amount upon approval, you can involve co-borrowers - participants salary projects. Also, when applying for a loan, you can note that you do not want to take into account the solvency of the co-borrower. This will reduce the list of required documents, but may reduce the maximum approved amount.How to use maternity capital in favor of a mortgage?
You can use maternity capital funds in whole or in part as a down payment when obtaining a mortgage. You can use only maternity capital or the sum of maternity capital and own funds. By minimum size We recommend using the DomClick calculator for the down payment.
When using funds maternity capital it is important to agree with the seller on the procedure and deadline for receiving Money maternity capital, since this amount is transferred from Pension Fund not right away.
Also, maternity capital funds can be used for early repayment of an existing loan.What are the additional costs associated with obtaining a mortgage?
Depending on the type of property and the selected set of services, when applying for a loan, you will need to pay:
· Evaluation report – from 2,000₽ depending on the region and appraisal company (required for valuation of the collateral object);
· Insurance of the collateral object (for the purchased apartment) - directly depends on the size of the loan;
· Life and health insurance of the borrower (not mandatory, but reduces the loan rate) - directly depends on the size of the loan;
· State duty for registering a transaction in Rosreestr - 2,000₽ at independent registration or 1 400 ₽ for electronic registration istrations (is additional service and paid separately)
· leases safe deposit box and payment for access to it (when buying secondary housing for cash) or payment for a secure payment service - from 2,000₽ .
The cost of services is approximate. Check the exact cost on the websites of the respective services.
Which is better: new building or resale?
As a rule, an apartment or apartments in a new building are bought directly from the developer, while a resale property is purchased from the previous owner.
Nobody lived in the new building before you, the price is for square meter smaller than an apartment of the same class in the secondary housing, there are promotions from developers, more modern layouts, however, you will not be able to quickly register at the place of residence, the elevator and gas will not be turned on until the majority of residents move in, most likely, you will have to wait for infrastructure development and completion of repairs at the neighbors.
As a rule, you can enter the secondary housing and register immediately after the purchase, the infrastructure around is already developed, however, most likely you will have to be content with a typical layout, worn-out communications, and you will need to check the legal purity of the property and the participants in the transaction.
What is the processing time for a loan application?
Consideration of the application does not exceed two days, but most clients receive approval on the day of application.
How is the process of obtaining a mortgage in Sberbank through DomClick?
Depending on the type of property and other parameters, the process of obtaining a mortgage may differ.
However, the first step is the same for everyone - applying for a loan. To apply, calculate the loan on the DomClick calculator, register on the site, fill out the form and attach Required documents. Consideration of the application does not exceed two days, but most clients receive approval on the day of application.
If you have not yet chosen a property, you can start doing it immediately after receiving approval from the bank, when you know the maximum loan amount for you.
When the property is selected, upload the necessary documents in the DomClick office.
Within 3-5 days you will be informed about the approval of the property you have chosen. You can choose a convenient date for the transaction, which is carried out in the center mortgage lending Sberbank.
The last stage is the registration of the transaction in Rosreestr. Congratulations, you're all set!
Why register on DomClick?
After registration, you will have access to the help of a consultant in the chat and the borrower's questionnaire. Registration allows you to save your data so that you can return to filling out the application at any time. After receiving approval for a loan in the personal account of the borrower, you will be able to communicate with your manager, send documents to the bank online and receive the services necessary to obtain a mortgage.
How do I find out the decision of the bank?
Immediately after consideration of your application, you will receive an SMS with the decision of the bank. A bank employee will also call you.
Dreams of owning a house can become a reality even for those who do not have personal funds for construction. Today, Moscow banks offer programs for the construction of a residential building. For many, the conditions for providing such a loan will be much more favorable for a number of reasons:
With a list of banks providing mortgage, you can find it on our website. Calculates the interest rate and monthly payment amount credit calculator. The application is submitted on the bank's website or in person at bank branches in Moscow.
Mortgages for the construction of a private house in Moscow are issued by most banks for up to 30 years at a rate of 10%. One of the conditions is the registration of a pledge on land or on existing real estate. If you are interested in a mortgage for the construction of a house without a down payment, then you will need to draw up a suretyship agreement and provide the bank with proof of your solvency.
If you are tired of noisy neighbors behind the wall in a high-rise building, then you can get a loan for construction own house in Sberbank. This financial institution offers the most profitable terms mortgage, compared to other organizations. To approve the application, you need to familiarize yourself with the requirements for the borrower, the conditions for obtaining and repaying the loan.
The positive aspect of obtaining a loan for the construction of a private house in Sberbank is a small annual interest. Such lending always carries certain risks for financial institution. If the client does not repay the loan, then the bank will have a land plot with unfinished housing, which act as collateral during the transaction.
Advantages of obtaining a targeted loan at Sberbank:
Sberbank offers to issue a deferment for 2 years. During this period, the borrower is required to pay only interest. Such an offer is convenient when building a house, as it helps to protect the client from unforeseen expenses.
You can get a deferment immediately after applying for a loan and at first do not spend money on repaying the loan. Sberbank allows not only to receive money on favorable terms, but also to engage in construction on their own, without involving accredited developers.
For the arrangement of a private house, Sberbank provides from 300 thousand rubles. Maximum size the loan should not be more than 75% of the value of the property that the client wants to purchase. Also, the borrower cannot receive more than 75% of the value of their own housing, which acts as collateral (the value of an apartment or house is determined by an appraiser).
What can act as a guarantee of the fulfillment of obligations by the borrower:
Credit in Sberbank is issued for up to 30 years. The amount of the first installment is not less than 25%. The client does not pay any fees for obtaining a loan. Required for the entire period of the mortgage agreement.
Sberbank offers lowest percentage for a housing loan - 11.6%. But with high risks for a financial institution, this figure increases. For participants government programs the annual rate is 10.6%.
Reasons for increasing the interest rate:
To get, you need to be a trustworthy borrower. Sberbank managers evaluate the client's credit history and financial capabilities.
A loan for building a house in Sberbank can be calculated on a special calculator. The program works online and helps to learn interest rate which may be approved. To get the calculation, you need to enter the initial data in a special form.
The calculator requires you to specify the amount of the loan, the amount of the first installment, participation in preferential programs, availability salary card from the bank. It also confirms the consent to the insurance. Additionally, you should calculate the approximate cost of construction work.
If you are tired of living in an urban concrete box and want freedom, start building a house with a mortgage program.
Buying 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.
This is a complete relocation. permanent residence. Around will be surrounded by clean air, no neighbors behind the wall, as well as various earthly goods like a river, a lake, a reservoir.
For example, for the same money, instead of a 2-room apartment, you can build a beautiful Vacation home, which in terms of area will be 1.5-2 times larger than the apartment. Also, depending on the size of the plot, over time it will be possible to complete the construction of a bathhouse, a gazebo, make a pool, attach a garage, and trees can be planted on the remaining part.
Who would refuse to live in such a house? And all this away from the boring city bustle.
Of course, not everyone needs a full-fledged country house. Most people want to have just a small country house or garden house. In this case, you can also take a loan.
Sberbank offers a loan for the construction of suburban real estate, for its purchase, as well as for the purchase land plot. The minimum amount is 300,000 rubles. After all average cost suburban areas in the regions varies from 300,000 rubles.
If you already have a land plot, 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 terms of the bank, the collateral is:
Unfortunately, banking offers very little. A home construction mortgage is one of the most risky types of mortgages for a bank, and therefore the requirements are more stringent.
The main risk is a 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, often co-borrowers are required.
Recall that the December instability of 2014 in banking 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 house called “Construction of a Residential House”.
Unfortunately, you can't just go to the bank and ask for a loan to build your dream home.
The bank must make sure that your construction is a realistic process, and that there will be no problems with putting it into operation in the future. It is you who 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 the house must take place in accordance with the procedure established by law. Initially, you need to obtain all permits, order a project that needs to be approved, so that after the 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's your property, great, if it's leased, it's not bad either (the only thing is, then it can't act as collateral). The land must be suitable for housing construction. Well, if there are already summed up to the site engineering Communication. Documentation on the land plot should be as complete and ready as possible for registration of ownership of the object. If the site has already been started construction works, and at least the foundation has been erected, then in order to obtain a mortgage, it is necessary to register an object of unfinished construction.
Site requirements:
Target credit for construction.
It is quite difficult and long, a lot of nuances and obstacles. You can get the first tranche of money, clumsily confirm its use and lose the second part of the money. This can freeze construction. Also in this option, it is required to confirm the availability of a down payment. The bank can only give 70-80% of estimated cost future home.
Loan secured by land.
If you already have a plot of land, this greatly facilitates the matter. Of course, they won't give a lot of money for a plot. But it can be an additional source. Perhaps you have additional savings, which will also facilitate construction.
Loan secured by real estate.
This is a more serious step. You can mortgage, for example, your apartment to receive a significant amount of cash. Banks approve a maximum of 80% of market value mortgaged apartment. This amount may be enough to fully finance the construction.
Transport loan.
If you lay down transport, you can also get a good amount. It must be remembered that the bank will value the car at 60-70% of its market value. At the same time, there are both loans in car pawnshops and in banks. Loans secured by transport are ordinary general purpose 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 take out several loans. Construction is hard work. Well, of course, if there are savings. Again, a large amount of money will not be given if you do not give the bank something as collateral. If you do not want secured loans, then you can offer the following scheme: own savings + consumer credit for 1-2. We built part of the building, paid off the loan, take a new one. Construction, however, will be delayed, but it is relatively safe from the point of view of debt servicing.
Schematically, the process of registration and obtaining a mortgage for the construction of a house (Sberbank is given as an example) looks like this:
Documents that will be required:
The bank may require additional paperwork in individually(certificate for mother capital, account statement, military ID, etc.).
A lot of people are worried possible risks, which are the main obstacle in obtaining a mortgage. The greatest worries are connected with the fact that in the case of registration of a pledge 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 owner of the mortgage loses the ability to pay monthly installments, he has the opportunity to resell the unfinished a private house. The demand for such real estate is quite high for our market. And an unsecured mortgage is easy to re-register for a new owner. In this case, you will not lose absolutely anything and the risk is reduced to an absolute minimum. Making a mortgage is a very profitable and worthy offer for those people who need this money. Due to them, you can build and equip your new home. Just be more careful when studying the mortgage offers of different banks. Choose the mortgage that is more favorable in terms of terms and will give you the least inconvenience.
10.07.19 52 579 160
In 2016, my wife and I to build a house. We didn't have enough money to buy a house, so we took out a loan.
Georgy Shabashev
built a house with bank money
We have long dreamed of moving out of town, to our own home. We did not like the townhouse option, so we decided to buy a plot and build a log house on it according to our project.
By the time we bought the plot, we knew that we would not be able to build a house without credit money. Options began to calculate in advance, so as not to drown in loans and not be left without a home.
We made it. I hope my experience will help you make your decision.
A mortgage on a townhouse or apartment under construction and a loan to build a house is various loans. In the first case, the property remains pledged, so the bank does not take risks: if the payer cannot repay the debt, the bank will sell his housing. But issuing a loan for the construction of an object that does not yet exist in nature is a more risky operation.
The bank will not approve a construction loan if you do not have a plot. We bought the plot with our own money - this was supposed to be an additional guarantee for the bank: there is land in the property, but no loans. If there is no money either for a plot or for a house, I recommend that you carefully weigh everything. Taking out loans to buy land and build a house is a dangerous scenario.
I studied the offers of several banks that were issuing loans for construction at that moment, and filed several applications: one bank refused me immediately, another bank processed my application for several weeks and, as a result, was also refused. I have a good credit history with no delinquencies, and the refusals were incomprehensible.
In a personal meeting, the bank manager said that construction loans are approved very rarely. Even after approval, documents for construction may not pass verification - an agreement with the developer, an estimate and documents for the ownership of a land plot. If something does not pass the test, the loan will be denied. This is the internal regulation of the bank, and it will not be possible to change it.
The bank also requires a building permit, which takes several months to obtain. While you are issuing a permit, the approval of the bank will no longer be valid. If you want to get a loan under this scheme, then permission must be issued in advance.
I decided to no longer apply for construction loans and go the other way: make an estimate and, as the house is built, draw up consumer loans when your money is not enough. The interest rate on consumer loans is higher, but this option still seemed profitable to me: you do not need to pay interest on the entire amount at once, fewer documents are required, and construction can be started earlier.
After the construction was completed, I planned to refinance consumer loans with a high interest rate with one general loan against the security of the built house. Conditions for such loans are better: the rate is 5-7 percentage points lower, and the maximum term is longer. As a result, the credit burden will decrease.
In the end my plan looked like this:
When planning repairs in an apartment, they often go beyond the budget. But if in the case of repairs you can leave one room unfinished, then living in an unfinished house will not work. In order not to use up the entire budget during construction, we studied proposals for several weeks.
To begin with, we visited the exhibition sites of developers - these are several dozen densely standing demonstration houses. There are also sites where several small developers show their houses - 1-2 from each. The houses are similar, and the cost depends on the materials and the company.
The advantage of ordering from a large company is that they have partner banks ready to approve a loan for building a house in this company. Minus - you can’t make changes to the project at will: you need to choose from available options and their kits. The developer could not make our changes to the project: the size of the rooms, the layout of the bathroom and the material of the walls were fixed. The proposed options did not suit us.
And all the work would have to be ordered from one developer - this is often unprofitable. We refused such an offer.
Small developers have more freedom of choice. Many agree to finalize the project for free, but rarely preferential programs lending. We wanted a log house and were looking for a builder who specialized in this material.
The company was chosen at one of the exhibitions wooden houses. We were offered several standard projects to choose from. Each project had several options for planning, it was also possible to choose a tree and its size. We made about 10 changes to the project: we increased the diameter of the log, the roof canopy, the height of the ceiling, the size of the rooms, and took into account the redevelopment in the bathroom. How the house was chosen and what the price consisted of, I will tell in a separate article.
To plan an estimate, you need to know the stages of construction, their timing and cost. A log house is built in two stages: first, the box is the foundation, walls and temporary roof; then the second stage - communications, exterior and interior decoration. After the construction of the box, the house should settle, this time is allotted for natural subsidence of the house when the logs dry out - shrinkage. The developer's recommendation is at least a year between stages. This is a feature of wooden housing construction.
The project with selected materials and equipment cost 2.6 million for the first stage and 3.9 million for the second. In addition, we laid down 300 thousand for drilling a well, installing a septic tank and bringing communications to the house and 10% of the estimate for contingencies.
The first stage takes 3-6 months depending on the weather, and then another year of shrinkage. After that, you can begin the second stage of construction. In total, we needed 2.9 million at the beginning of construction and another 4.6 million in a year and a half.
First stage
2.9 million rubles: 2.6 million according to the estimate and 0.3 million for unforeseen
At the start of construction
Second phase
4.3 million rubles: 3.9 million according to the estimate and 0.4 million for unforeseen
After 1.5 years
External communications - well, septic tank, electricity
300 000 R
In the middle of the second stage
After collecting input, I sat down to write a business plan.
For the first stage 2.9 million rubles were needed. We had accumulated 900 thousand, our parents closed the deposits and gave us another 800 thousand. The remaining 1.2 million I planned to take on credit. The first stage lasted six months.
Second phase began a year after the completion of the first. It required 4.6 million rubles, taking into account a reserve of 10% and the cost of a well, septic tank and electricity. I planned every month after the start of the first stage to set aside 50 thousand rubles for the second stage - in a year and a half, 900 thousand will accumulate. It remains 3.7 million rubles. On the consumer needs banks usually give no more than 1.5 million. I took a chance and included in the plan to receive two loans of 1.5 million with an interval of 1-2 months. Whether the bank would approve them and at what rate - I could not know. The remaining 700 thousand I agreed to borrow from friends if the money is needed.
I planned to take all the loans for the maximum possible term- for consumer loans it is 5-7 years. So monthly payment and the total credit burden will be less, and the probability of approval of the next loans will be greater. He refused life insurance: it was not so profitable with him, even taking into account the fact that credit rate lowered. Even if the loan is closed early, the insurance, as a rule, is not returned.
At the beginning of the summer of 2016, when I made the plan, the average rate on consumer loans without insurance was about 20%, and the refinancing rate was 11%. I expected that the rate would continue to decrease, but just in case, I laid down the planned loan burden at a rate of 21% per annum. With my parameters, the total monthly payment on loans would be about 95 thousand.
End of my plan- refinancing of all loans with one secured by a built house. The bank accepts only registered objects as collateral - I pledged another 6 months for the process of registering a built house.
Each bank has its own requirements for collateral. For example, not all banks accepted wooden houses as collateral, and some did not work with suburban real estate at all - only with apartments. Sometimes requirements were made to the foundation, the availability of communications and remoteness from the nearest city in which there is a bank office.
At that time in Moscow, I found only five banks that were ready to accept wooden house pledge. This is the second risky assumption: during the construction credit policy banks could change and the house would no longer be suitable for collateral conditions.
A registered house and plot are registered as collateral, and banks gave loans only 50-70% of their total appraised value. After refinancing, I could count on a rate of 12-14% per annum for a period of 10-15 years. If you refinance 4.2 million rubles - the sum of all loans under the plan - for 15 years at a rate of 14%, the monthly payment will be about 56 thousand. This suited me.
The first stage of construction. June 2016 central bank again reduced the key rate by 0.5%. The euro exchange rate, on which the cost of intra-house communications and equipment depends, decreased during the winter and spring. I decided it was time to act.
The first loan for 1.2 million rubles at 20.9% per annum was issued in the same bank where he took and closed the car loan ahead of schedule: a pre-approved offer was received from the bank. Refused insurance. The contract for the construction was signed on the same day, a week later the builders arrived at the site.
When they were digging a foundation pit, it turned out that due to the peculiarities of the site, the foundation needed to be additionally strengthened and made deeper. A friend who works in landscape design agreed with the builders' conclusion. The reinforced foundation cost an additional 350 thousand and immediately ate 300 thousand, set aside for contingencies. I was lucky that several months had passed since the plan was made and I was able to save a little more.
As planned, the whole year after the first stage, I postponed the second stage of construction.
Second stage of construction. When it came time for the second stage, I applied for 1.5 million to another bank - there was a share with a fixed rate of 15.9%. I was approved for a loan without any problems, but for a maximum of 5 years. I agreed. The rate was attractive, but the insurance was not imposed. The builders set to work. According to the plan, I had to take another loan for 1.5 million, and if there was not enough money, I would borrow from friends.
Another loan was needed two months later, and by that time consumer loans up to 5 million began to appear. I contacted a bank that had a special offer for such a loan. The number of stars in the conditions went off scale: compulsory insurance life and health, advance payment condition, only online application for the minimum rate. During the consideration of the application, the bank increased the interest rate and offered to leave the car as collateral - I refused.
A couple of days later, I found out about a pre-approved offer from another bank in which I had previously taken and successfully repaid a loan. The bank offered to take 1.5 million at 18.5%. In the end, I went according to plan: I took out two loans of 1.5 million, and the rate was lower than I pledged.
Unexpected expenses. Appetite comes during the repair - at the second stage, unforeseen "Wishlist" began to appear. I wanted more windows on the first floor - plus 40 thousand. In addition, install skylights - another 220 thousand.
A week later, friends shared with us the experience of using warm floors, which, of course, were not taken into account in our estimate. We limited ourselves to underfloor heating in the hallway, in the kitchen and in the bathroom - without expensive sensors and regulators, we got 130 thousand with work.
130 000 R
we spent on underfloor heating
We built a house for ourselves and for a long time, so we went to meet our desires. Total plus 390 thousand to the estimate.
While the exterior decoration was going on and internal communications were being carried out, new unplanned expenses appeared. According to the plan, 300 thousand were allocated for the arrangement and commissioning of all communications, but the well had to be drilled deeper than expected - as a result, all 300 thousand were spent only on supplying water and sewerage. Installing a meter, introducing electricity into the house and laying a cable underground instead of wires hanging over the site cost another 65 thousand. Also, there was no grounding in the estimate - plus 45 thousand, including equipment and installation. Instead of 300 thousand, we spent 410.
With all the additional work, the cost of the second stage was 4.7 million - 100 thousand more than the planned costs. In a year and a half, I saved up about a million and took out two loans of 1.5 million for the second stage. But I still lacked 700 thousand, which in a couple of months I had to pay the workers.
I didn’t want to strain my friends, but the total payment on all loans at that time was about 95 thousand. I did not want to take another loan: the amount of 100 thousand monthly was a psychological mark for me, which I did not want to step over.
As a result, I borrowed 400 thousand from friends and crossed out another 300 thousand from the estimate of work: I left the installation of interior doors and gas equipment for later, limiting myself to an electric boiler. Heating a house in this case is more expensive, but connecting to gas in our village costs about 600 thousand and takes almost a year.
A month later, the house was ready: communications were carried out and launched, finishing was completed and plumbing was installed. There were only no interior doors, but we were able to install them in just a month. Of the furniture, only a kitchen, a refrigerator and a bed - everything was presented by relatives for a housewarming. But it was already possible to live in a house and save on renting an apartment.
In order to refinance my loans, I had to register the house - otherwise the bank would not take it as collateral. Registration takes several months, but I was able to save time.
On the advice of friends, I turned to a company that collects and prepares documents. I was assigned a manager who handled the registration of the house. I issued a notarized power of attorney for him so that he could perform registration actions on my behalf. It was stated in the power of attorney that the authorized person can only register (register) real estate objects, but does not have the right to sell them. For my property, I was calm.
35 000 R
I paid for the collection and processing of documents
I contacted the company in advance and the manager suggested that I take care of the decoration while the house was being built. That's exactly what I did.
Registration took 6 months, I did not delve into the process of paperwork. During this time, the manager called me a couple of times to report the status. He requested and processed all the necessary documents without me - I saved time and nerves. I paid 35,000 rubles for the services of the company - the entire amount after the completion of the registration. I received an extract from Rosreestr with the address of the house and my name, and a dozen other documents that the manager had to complete for registration.
By the time construction was completed, the house was registered.
When drawing up a business plan, I selected banks that were ready to take on my house as collateral. On the websites of banks, I checked the current rates for loans secured by real estate and chose the bank with the lowest rate.
I already talked to the bank managers, but still called to clarify the list of documents. A week later, I collected the entire package of documents and went to the bank to complete a loan application.
Before applying, the amount of debt on all loans was 4 million - that's how much I requested. In my credit history there was not a single delay, I fulfilled all current loan obligations on time - and a week later I received the bank's approval.
It remained to make an assessment of the house with a plot and submit a report to the bank. The assessment cost 18,000 rubles and took less than a week. In the report, the house with the plot was estimated at 7.6 million rubles. In the approval, the bank indicated that it could issue a maximum of 60% of the assessment - this was enough to close all loans.
But here the problems began: the collateral department of the bank did not want to accept independent evaluation, arguing this by the fall of the suburban real estate market. The bank's experts valued a house with a plot of only 5.6 million - 60% of this amount was enough for only two out of three loans. My arguments, construction contracts and a request to the head of the mortgage department to reconsider the assessment did not change the decision of the bank.
I did not want to apply to another bank: there were no guarantees of a higher collateral assessment, and the approval period was already expiring. I agreed to the terms of the bank and refinanced two of the three loans. Despite the fact that the rate on the first loan was higher, it turned out to be more profitable for me to refinance the second and third loans: they had a larger balance of debt, and I needed to transfer as much as possible to a lower rate.
After refinancing, there was a loan with the most high stake and a debt to friends - in the amount of almost 1.5 million. I wanted to reduce the rate and repay the debt as soon as possible. On the Internet, I found a share for refinancing at a rate of 10.99%. Under the action, it was allowed to refinance the loan and receive additional cash, but in the amount of no more than 1.5 million. I understood that the preposition “from” could mean any rate, but I filled out the application anyway.
I received preliminary approval without an exact rate in an hour via SMS. The next day I brought the original documents, signed the questionnaire, and half an hour later the manager said that the refinancing had been approved at the minimum rate of 10.99%. I closed an expensive loan and repaid the debt to friends.
2.5 years passed from the moment of buying the plot to moving into the house, of which about every fourth day I was engaged in bureaucracy: I analyzed the offers of banks, sent loan applications, collected documents, visited bank offices and more. My risky plan was tweaked along the way, but overall it worked. I spent a lot of time and nerves, not to mention money.
82 000 R
I pay monthly for all loans
Now I have two loans: collateral for 15 years at 13.5% and consumer for 5 years at 10.99%. The total monthly payment is 82 thousand rubles. This is more than a mortgage payment for a kopeck piece at the Moscow Ring Road. We had to drastically cut spending on entertainment and forget about vacation trips. But in three years I will have already repaid the consumer loan and will be able to pay more on collateral.
And most importantly, we have our own home. It was worth all the tests passed.
