Everyone loves to take a steam bath. Every person wants to live in a cozy and environmentally friendly wooden house. But only 20% of the country’s total population can afford to buy them with cash.
This is not meant to be derogatory; the price really can be high. But you can buy a log bathhouse or a house on credit. Fortunately, many banks provide this service, so you don’t have to look for a lender.
Turnkey house construction on credit
There is no need to think that this is an unprofitable event. Confirmation of the rationality of such an operation is high demand, increasing annually. It is especially profitable to take out a loan to build a house. This loan is a mortgage in nature, which means the property remains pledged. But the repayment conditions are loyal, the property will be safe even in the event of financial difficulties.
Now the best part - many construction companies that produce houses and bathhouses from timber have partnership agreements with banks. When cooperating with them, the buyer does not receive money in hand. The bank transfers funds directly to the seller’s account, and a loan agreement is opened for the customer.
You don’t even need to go to the bank; everything is done in the log house manufacturer’s office. But before concluding an agreement, you need to carefully read the terms of such a loan on the manufacturer’s website and banking institution. If something is unclear, you should call the manager for clarification.
Average lending conditions are very favorable. Terms can reach 30 years, although not every bank is ready to provide such a loan. If we take into account that the price of a house is lower than an apartment, such terms are not necessary at all.
The optimal option is 1 year for every 230 thousand rubles of payments. Thus, it is profitable to take a loan for a million rubles at 12% per annum (one of the most profitable offers on the market) for 6 years.
In this case, the total payment amount will be approximately one and a half million, including all interest. But, first of all, you need to focus on your own financial capabilities.
Is it possible to buy a log house or bathhouse on credit without a down payment?
A loan for the purchase of a log house is a mortgage, which means you cannot do without a down payment. By the way, it ranges from 10 to 35% of the total loan amount. But here, too, an exception is possible. Some construction companies themselves make an initial contribution to the bank from their own funds, which are returned to them along with the loan money, and the debt obligations are automatically transferred to the buyer. It’s a complex scheme, but it works – it allows you to bypass some banking rules.
Everything is simplified when the log house seller enters into a special partnership agreement with the bank, which allows him not to pay initial fees. When applying privately to a bank, such a loan program is not available; this is only possible for corporate clients. This option is probably the most profitable for a person who wants to buy:
There is no down payment;
The interest is the same as for the down payment;
You can avoid leaving your property under bank collateral.
Plus, the bank is more loyal to the late payments of such borrowers. The “principle of friendship” works - if the client came from a partner, then the bank provides him with benefits. It's a matter of reputation, but it's good for borrowers.
Banks lending for home purchases
There are not very many such banks, and a decent part of them are concentrated in the Moscow region. However, it is possible to find a lender throughout the country. After all, no one is stopping a manufacturer of timber houses from concluding a partnership agreement with a Moscow bank. So, credit organizations providing loans for the purchase of a house or bathhouse made of timber:
Rosselkhozbank. One of the most interesting proposals: if the borrower runs a private farm, then all age limits are removed, and information about the place of work is not required. For other borrowers, the minimum age is 21 years, the maximum is 65. Income is confirmed with 2 personal income taxes or a correct bank certificate. It is possible to defer payments for three years upon the birth of a child. The amount can be very large, but depends on the level of income and the availability of property of the borrower. The loan is recognized as a mortgage, so the purchased building remains pledged.
Mortgage for building a house.
SKB-BANK. The conditions are almost no different from the previous version, with the exception of the absence of benefits for owners of subsidiary plots. The minimum age may be reduced to 18 years with proof of income. Loan terms can reach 30 years.
Sberbank. The most reliable, the biggest. Buying a bathhouse or a log house is equivalent to a classic mortgage, which means the property remains pledged. It features low interest rates and the possibility of early repayment without fees or penalties. This bank provides loans not only for the purchase of a new home, but also for the completion of an existing one.
Such conditions are relevant for personal contact with the bank. If you apply for a loan through a partner construction company, additional benefits are possible in the form of a lower minimum age and flexible sanctions in case of late payments.
Installment options for building a bathhouse or a house made of timber
To receive an installment payment for the desired building, you don’t have to contact the bank. Some construction companies offer consumers preferential terms purchases of housing, allowing installments of up to 3 years. Options could be:
The housing problem is one of the most pressing issues among Muscovites who are looking for money to purchase real estate.
A mortgage for housing construction in Moscow makes it possible to obtain real estate in a fairly short period of time.
To receive mortgage loan to build a house, the bank puts forward the following requirements to the client:
- Age from 21 to 65 years;
- Stable job;
- Income. Not only the client’s earnings are taken into account, but also his family’s;
- Amount for initial deposit.
- Guarantors are needed if the client’s income does not satisfy the bank.
Banks in Moscow provide the following types of mortgage loan programs in 2020:
- standard;
- social;
- "Young Family";
- for military personnel.
The client is given the opportunity to independently calculate the monthly payment using a virtual calculator, compare conditions in several banks and choose a more profitable option for himself.
Applying online for a loan in Moscow is easy, just a few steps are enough:
- Go to the bank's website.
- Fill out the application.
- Send it to the bank.
- Get an answer.
- Collect the necessary documents and go to the bank.
How can Muscovites get a mortgage to build a house?
You need to submit a number of documents to the bank:
- Passport.
- For males - military ID.
- SNILS.
- Education documents.
- Marriage certificate, birth documents of children.
- Work record book from work
- Income certificates.
When issuing a mortgage for the construction of a private house, the bank takes into account what material the client is building the house from (concrete, brick or wood), as well as the characteristics of the foundation.
Those clients who build from more durable materials have a greater chance of getting a mortgage in Moscow for building a house.
Which Moscow banks provide mortgages for housing construction to Muscovites?
Among the leaders:
- Sberbank;
- Bank of Moscow;
- Rosselkhozbank;
- Moscow Credit Bank;
- RosEvroBank and others.
By taking out a mortgage for housing construction, the client quickly resolves housing issues. Preferential mortgage agreements that are economically beneficial to the client are a reliable investment.
For families with average income the best option purchasing your own home will be frame house: construction on credit is becoming more and more accessible. Construction from traditional materials, such as brick, cinder blocks or aerated concrete, risks taking several years, and it always requires huge expenses. Frame technology allows you to completely complete construction and move into a fully finished house in just a few months, after which the family will be able to calmly repay the loan.
Advantages of frame construction
Frame house on credit – this is an opportunity to acquire your own home with very small one-time expenses. Modern banking programs are specifically aimed at families with average incomes; monthly payments will not become too burdensome if you think through all the issues in advance and take a balanced approach to design and construction.
A frame house is a warm, light and durable building that does not require pouring a powerful monolithic foundation. Construction work can be held at any time of the year, although usually they are tried to be held in the warm season. The actual construction of a house can be compared to the assembly of a construction set: the building is assembled from ready-made factory-made elements, the box is built in just a few weeks.
Frame house on credit in Moscow and the Moscow region has become a popular solution for several more reasons:
- The opportunity to not only build a building in one summer, but also carry out complete finishing with the arrangement and connection of all communications. Unlike a house made of logs, a frame building does not shrink: you do not need to wait six months or a year, you can immediately carry out external cladding, install doors, windows and carry out other work. This allows construction to be completed in the shortest possible time.
- Low cost of materials and finishing. Durable softwood timber is used for the frame; OSB -slabs and modern insulation. This technology ensures minimal construction costs; in addition, you can save on rough finishing.
- High energy efficiency. A frame house retains heat well, which makes it possible to reduce annual heating costs. For any home, this is a significant saving; it partially pays for the investment in construction.
- Wide selection planning decisions. If you want to become the owner of a truly comfortable home, your choice is construction of turnkey frame houses: projects One-story and two-story buildings can be selected to suit any requirements. Subsequently, the building can be quickly rebuilt by changing the location of the rooms.
Advantages of construction on credit
If you have to build on credit, a frame house is the least risky solution. The construction will not be delayed and will not lead to large additional costs; all finishing work can be completed in the shortest possible time. In addition, such construction meets all the requirements of banks; subsequently, the house will be considered collateral until payments are finalized. There will be no problems obtaining a loan, and in the future you will be able to calmly pay the bank without being distracted by endless problems with construction and finishing.
If you want to become the owner of your own comfortable home away from the dusty streets of the metropolis, a house in frame technology will become the best solution. The Canadian type of construction has been tested in many countries; houses of this type make up more than 70% of one-story buildings in the USA, Finland and Canada. This is the most economical solution that has proven its effectiveness.
Building a house from timber and a wooden frame costs owners less than brick and monolithic houses. And yet, buying a house made of timber on credit can be a profitable solution if the customer is interested in the rapid construction of the building. If you combine a turnkey timber house project and apply for a loan, you will end up with a guarantee of quality, exact construction deadlines and no additional costs.
You can build a house on credit from the Svarog company in an amount of up to 5,000,000 rubles and for a period of up to 7 years. Unlike a mortgage, you can buy a frame house on credit without collateral, and get it faster.
| Bank name | Requirements, conditions and documents |
| Requirements for the borrower:
|
Loan for building a house - from 13.4%.
Loan term - up to 7 years.
Sum - up to 5,000,000 rubles.
Conditions for obtaining a loan. Who can buy a frame house on credit?
Partner banks of the Svarog company offer conditions for a consumer loan for construction frame houses and houses made of timber, without resorting to mortgage lending services. And unlike a mortgage, a non-targeted loan for a turnkey frame house gives you the right to dispose of the property as you wish. 22
The conditions for obtaining a loan are as follows:
- You need to have Russian citizenship;
- register in the region where the bank’s representative office is located;
- Your income must be constant, with a total work experience of at least 2 years and at least six months of continuous work experience;
- When repaying the loan, you must be at least 21 and not more than 68 years old;
Svarog partners do not inflate loan rates, but it should be remembered that consumer and mortgage lending rates are different. Therefore, you can buy a house project made from timber on credit along with your life insurance at 13.4% with a deposit and at 14.4% without it. If you refuse insurance, you will need to pay an additional 3% of the amount.
Why is taking out a loan for a frame house a smart decision?
Building a house on credit is not always an expensive and lengthy process, both when building frame houses on your own, and when building frame houses through companies, and even when buying a house made of timber on credit. The budget, like time, cannot be unlimited, so people with limited finances are forced to postpone the completion of work, ask construction companies for a deferment, take out loans from third-party companies... And often such decisions lead to a freeze in construction and a complete lack of money.
A loan to build a turnkey house is really a good way out of the situation, but not every construction company works on such conditions. Legally it is more complex process concluding a contract than simply concluding a contract. The contractor does not receive money for his work immediately and there may simply not be funds for the construction of the building.
“Svarog” already cooperates with several banks and has the material and technical base to carry out the work, so buying a frame house on credit and building it turnkey with us is a solution to two problems in one moment!