As for the fact that it's convenient and healthy to live in your own home, no one will argue. But here is where to get money to buy or build, especially if you have only recently become a family and have not made capital yet? Postpone the acquisition of their own housing for years, and even decades? But I want to live comfortably now, and to raise children better in the "family nest". ..
Now many banks and state organizations offer loans for building a house on various terms for young families who want to acquire housing. However, most programs are designed to buy an apartment or a house, since construction is not a quick and risky process, and in the case of purchasing a ready-made home, it also serves as a security. The queue for receiving subsidies from federal or regional sources has been stretching for years, or the construction of a house in the outskirts becomes an indispensable condition, while one wants to get closer to the city.
And still there are options. One of them is the target loan for the construction of a house in a bank designed for a young family. If it can be obtained, then the house you can build where you want, and no one will be wondering if you already have "extra" square meters per family.
What kind of family is "young"?
To begin with it is necessary to be defined, whether your family falls under definition "young".Criteria in different programs and from different banks are similar, although they may have features.
- According to the law, a young family is considered young, in which one of the spouses at the time of the contract was not 30 years old( in some banks, for example, Sberbank, the upper age limit is set aside to 35 years).
- Most credit programs require the participation of both spouses as co-borrowers.
What is required?
In order to get a loan for construction, it is necessary to confirm the level of income, i.e.your official salary should be high enough. A number of banks require a surety, in the role of which the parents of either spouse or employer can act.
If the loan is taken directly for the construction of the house, the bank will require a project and cost estimates approved by the competent organization. As a rule, the bank issues a loan against a plot of land, and future borrowers need to be its owners. You also need to have a portion of the amount needed for construction, most often, it is at least 25%, which the bank will require as a down payment.
In general, the list of documents is standard:
- application for a loan,
- passport,
- certificate of marriage,
- certificate of income of co-borrowers,
- documents, title to land or other real estate,
- birth certificate of a child,
- if inthe parents of the spouses will be involved as co-borrowers, then a statement, income certificates and documents confirming the relationship are required.
Credit terms
Sberbank offers the widest range of mortgage loans. A young family can take on preferential terms one of the standard loans: "Mortgage", "Mortgage +" or "Loan for real estate."Preferences are that as co-borrowers can be asked to speak to their parents, then the amount that can be obtained, significantly increase.
Another bank that allocates young families is VTB24.In calculating the aggregate income, not only the salaries of young spouses, but also their relatives in the application from them, can be included. As in Sberbank, it is possible to repay the loan prematurely without penalty and a grace period of 3-5 years for the payment of principal.
| Bank | Issued amount | Rate | Initial deposit | Term | Possibility of deferred payment of principal amount | Features |
| Sberbank | of 300 thousand | 10.5% in currency, 11-14% in rubles | 20-10% | up to 30years | up to 5 years | No commissions, attraction of co-borrowers up to 6 people, record of the presence of children and other circumstances |
| VTB24 | from 500 thousand | 11.75-12.85% | 30-15% | to 50 years | 3-5years | Attraction of co-borrowers |
| MKB, the loan "Country real estate" | - | 9% in currency, 12.2% in rubles | 20% | to 25 years | - | - |
| Raiffeisen Bank | from 300 thousand | 12.75-16.15% | 20% | from 3 to 30 years | - | The issue of money occurs in the form of 5 tranches, the loan rate varies depending on the construction phase of |
. The loan terms for young families can vary not only in each individual bank, but also in branches of the same bank in different cities. The best way out is to prepare a certified construction project and estimate, settle all issues with land documents and only then contact the largest ones.
Why be prepared?
The terms of the loan for the construction of the house have some features. Money, most often, is given out in installments, according to the loan agreement, separately for each stage. Before issuing the next tranche, a bank employee will come to the site to assess the progress of work and how much funds are spent on purpose.
Before applying to banks for a loan, it is worthwhile to clarify whether there are social programs in your region for helping young families acquire or build housing, and what their conditions are. Participation in them can save a lot of money, which in the family are not superfluous.
