A loan to buy a house: the conditions of the TOP-7 banks, the size of the down payment, the procedure and reviews

In this article, we will look at how to get a loan to buy a house. We will find out whether banks issue loans for the construction of a country house and how much is the down payment on a mortgage or consumer loan. We have prepared step-by-step instructions for obtaining a loan for you and collected feedback from borrowers.

TOP 7 banks issuing loans to buy a house

A loan to purchase a house is not among the priority areas in the bank lending sector. But this service is becoming more and more in demand and popular among citizens, as a large number of people prefer not apartments in stuffy cities, but country houses.

We suggest that you familiarize yourself with the list of credit institutions where you can apply for this type of loan, including without a down payment. And below we will find out whether it is possible to get a house for the purchase or only a mortgage is suitable for this purpose.

The credit institution offers its clients to apply for a loan for the purchase of finished housing with an initial payment of 15% of the cost. As a down payment, the bank can take into account (if any). Lending is carried out only in rubles, and the maximum loan amount is 85% of the value of the object.

The following can serve as collateral:

• the property to be purchased;
• land with a house on it.

The application is considered within 2 - 5 working days. If approved, funds can be provided in one amount or in installments. You can, in full or in part, by writing an application.

Rosselkhozbank

Lending is carried out only in rubles. The pledge of acquired real estate, the guarantee of third parties, as well as the pledge of housing already available to the borrower act as collateral.

Funds are provided in full, at a time. There are no commission fees for processing and issuing a loan.

This banking organization has several credit programs:

Raiffeisenbank

The bank's program allows you to purchase a cottage on the secondary real estate market. The conditions for issuing such a loan are as follows:

• mandatory down payment - from 40%;
• you can attract relatives as co-borrowers to increase the loan amount;
• the income of not only official spouses, but also civil ones is considered;
• for the down payment, you can use the maternity capital.

The decision on the application is made within 2-5 working days, about 3 days it takes to approve the object you have chosen. If you plan to repay the loan ahead of schedule, you can either.

Gazprombank

When applying to a credit institution, you can take advantage of a special program for the acquisition of townhouses with a land plot in the villages that are being built by the Gazprombank Invest group of companies. The loan is granted at a time, with a minimum installment of 20%.

Mandatory is the insurance of the property, voluntary - personal insurance of the borrower. The application is considered 1 - 10 working days from the date of submission of the full package of documentation. In this case, the terms of lending are determined on an individual basis.

The bank's program is called Free Meters. With its help, you can buy a residential building with a land plot or get cash to build a house yourself.

No more than four co-borrowers are allowed under one loan agreement. The loan amount is up to 70% of the property value.

There may be surcharges on this loan. In particular:

• if you are not a payroll client: +0.25%;
• your co-borrower IP: +1%;
• if you confirm income with a certificate in the form of a bank: +0.25%;
• no life insurance: +2%.

Loan payments must be made every month, in equal amounts.

You can take advantage of the opportunity to receive credit funds for both a residential building and its share, as well as a townhouse. The initial payment for this loan program is from 50% of the market value of real estate. An apartment that the borrower already owns can serve as collateral.

UniCredit Bank

This bank has a program "Mortgage loan for a cottage" with an initial payment of 50% of the value of the object. Funds are issued on the security of the purchased and the land on which it is located. Mandatory participation of a realtor in the transaction is not required.

If you have a spouse, he automatically becomes a guarantor for the loan being issued. At the request of the borrower, the income of his close relatives, as well as all payments that can be documented, can be taken into account.

How to get a loan to buy a house?

Since your home is increasingly becoming the dream of a large number of people, let's figure out how to get a mortgage to purchase it or get a cash loan.

So, to apply for a loan, you need to go through several stages:

1. Choose a banking organization with suitable conditions for you. This is very important, since not only the peace of the whole family, but also its financial situation depends on it. Therefore, the choice should be approached with all responsibility.
2. Submit an application and the required documentation package.
3. Wait for the decision that will be made. On average, it takes about 5 business days.
4. Find a home that meets all bank requirements.
5. Provide all paperwork for the selected property.
6. Assess the property. This largely depends on your credit limit.
7. Insure housing. This is an additional protection against various kinds of risks.
8. Conclude a mortgage agreement. Read every line, anything that is not clear, ask. Pay special attention to the payment scheme, commission fees and other costs.

Most banking organizations allow you to fill out an application for lending directly on the official website. This is convenient and saves a lot of time. In particular, such a function is available on the Sberbank website.

House Requirements

The property you have chosen for purchase is carefully checked by lawyers and specialists of a banking organization. Not only legal, but also construction risks are analyzed.

Therefore, close attention is paid to the following criteria:

1. The quality of the material from which the house is built. This has a direct impact on its lifespan.
2. The physical condition of the house. It should not be dilapidated, require major repairs.
3. A private house must have all communications. We are talking about the availability of water, light, heat supply.
4. The house must be detached and with a land plot.
5. By the date of construction, restrictions apply to panel, adobe and country houses made of timber. If they are over 10 years old, the bank may refuse to lend.

An important indicator is the location of the house. The city line is considered the most favorable: if the property is located in a remote village, which is difficult to get to, it may well be considered unsuitable.

Of course, it is realistic to buy a house in the countryside, but the requirements from creditors will be tough:

• the house must have a clear address;
• it is necessary to have full access roads;
• the house is suitable for year-round living;
• the nearest office of the creditor bank should not be more than 50, and sometimes 100 kilometers;
• wear of structures is no more than 45 - 50%;
• if the house is wooden, it is necessary to have a fire coating.

Note that the land on which the house is located should be classified as land for individual housing construction.

Documents for obtaining a loan

The list of required documentation includes:

1. Borrower's passport.
2. Certificate 2-NDFL (sometimes acceptable in the form of a bank).
3. A photocopy of the work book.
4. The second document of your choice: TIN, SNILS and so on.
5. Marriage certificate.
6. Birth certificate of the child/children.

Together with this package, papers for collateral are provided:

1. Cadastral passport for a piece of land.
2. The original extract from the USRR on the absence of encumbrance.
3. Those. real estate passport.
4. All papers confirming the ownership of the house.
5. Extract from the house book.
6. Notarized consent of the second spouse to register real estate as collateral.
7. appraisal company report.

This list can be expanded or shortened depending on the policy of a particular credit institution.

Pros and cons of buying a house on credit

Before deciding to buy a home on credit, you need to weigh all the positive and negative aspects of such a deal. First of all, decide whether you have enough money to repay the loan on time.

Keep in mind that there will be additional costs: insurance, payments for various services, and so on.

Now let's take a closer look at the pros and cons. So, pros :

1. Real estate can be used immediately, as soon as you sign the contract.
2. The loan can be repaid early to reduce payments.
3. Confidence that the acquired object is legally clean.
4. The opportunity to become the owner of the house in a short time, without a long accumulation of funds.
5. You can offset the interest on the loan using a tax deduction.

From cons also nowhere to go:

1. Large amount of overpayment for the use of the loan.
2. Need to pay extra. expenses (notary services, etc.).
3. You can live in the house, but you have no right to sell or donate it.
4. Difficult loan processing.
5. Risk of losing property in case of payment delays.