Wooden houses turnkey loan. Houses made of timber on credit
Not every construction company can offer construction and purchase of a house on credit. Many contractors refuse to build on credit because it requires additional paperwork and the builder, again, does not receive the money right away.
But this story is not about Daromdoma’s company. We don’t just build houses and bathhouses from profiled timber with high quality and without prepayment, our goal is to make the construction of suburban housing accessible to the broad mass of the Russian population. We see this as our mission, which is why our company builds on credit.
Let's figure out how accessible it is now to get a loan to build a house from our partner, Rosselkhozbank, and find out what conditions, interest rates and programs it can provide to you, our customers. Marina Roslavtseva, Deputy Director of the Novgorod Branch of Rosselkhozbank JSC, is talking with us.
Loan programs help many of our clients acquire their own housing, improve their living conditions, or build their own home with borrowed funds.
Of course, building a house is preferable for several reasons, and one of the main ones is the fact that you don’t have to put up with a house that was built according to someone else’s plan and for someone else’s needs. You can build your dream home for yourself. The pleasure is not cheap, but our specialists will help you choose a loan for the required amount and on acceptable terms. You can see for yourself how interesting a loan for building a house looks from Rosselkhozbank.
Turnkey timber houses on credit: what are the features of construction lending?
Few banks provide loans for turnkey timber houses. At Rosselkhozbank, a loan for the construction of a private house is a targeted loan; the funds received can be used only for one single purpose. The client can choose the option of repaying the loan in separate parts, tranches, as necessary, and carrying out certain construction work.
What programs are in place at Rosselkhozbank today?
Mortgage loan for the construction of your own home. The client receives funds for the construction of his own cottage or house with a plot of land. This loan is issued for a maximum of 30 years (link to website). Russians over the age of 21 can count on receiving such a loan; the upper limit is 65 years. The work experience must be at least six months at the last place of work, at least one year over the period of the past five years. For clients who are engaged in personal farming, the loan is issued without this information.
As for income, a loan for building a house provides the client with the opportunity to choose an alternative method - either 2NDFL or a correctly executed certificate in the bank form. The material security for the loan will be the object under construction; before the real estate is transferred as collateral, a guarantee from an individual or legal entity is accepted.
Funds can be obtained in tranches, then the loan is issued in the form of an open credit line. If you wish, you can take the entire amount at a time. Debt repayment is carried out in equal payments, although a differentiated scheme is also available. A young family, where one or both spouses are under 35 years old, can count on benefits - deferment of payment of the principal debt for up to 3 years, deferment for the birth of children during the term of the mortgage - until they reach 3 years. But the deferment can be issued only once during the entire loan period. Early repayment within the framework of a product such as a loan for the construction of a house by Rosselkhozbank is made without restrictions and commissions.
According to the terms, a spouse can act as a co-borrower on the loan; the bank takes into account their solvency. In addition, you can attract up to three individuals, including those who are not related to the main client. They will be required to officially confirm the amount of their income.
To sum it up, It is quite possible to take out a loan to build your cottage or house. It is best if you manage to take advantage of some kind of joint program between the bank and the developer - the bank's partner.
There are other programs, for example, “registration using two documents” - this is a special program, who is it intended for?
So, build house made of timber inexpensively and on credit Quite possible, but are there any other programs? Under these conditions, it is possible to obtain a mortgage for the purchase of an apartment or residential building with a plot (including a townhouse) on the secondary market, as well as a property on the primary market, provided that its construction is carried out with the participation of credit funds from Rosselkhozbank. You must have at least 40% of your own funds if you are purchasing an apartment and at least 50% if you are purchasing a house or townhouse. The maximum amount is up to 8 million rubles for Moscow, St. Petersburg, Leningrad and Moscow regions, and up to 4 million rubles for other regions.
What is a non-directed mortgage loan secured by real estate?
This is a mortgage loan secured by a residential apartment or private house with land. Loan funds can be used by the borrower for any purpose. The loan is issued in an amount of no more than 50% of the market value of the property being pledged as collateral. The market value of the property (subject of mortgage) is determined in accordance with the report of an independent appraiser. The loan is provided for an amount not exceeding 10 million rubles and for a period of up to 10 years. As security, it is required to pledge real estate, which can be an apartment or a residential building along with a land plot. The object must be owned by the borrower or co-borrowers. The application is considered within a period not exceeding five working days.
Preferential loan for a young family to build a house
“Young Family” program, a family receives a loan as part of a standard product, but with a number of benefits. For example, the down payment is reduced to 10%, except in cases where the client plans to pay for participation in shared construction with credit funds. Then the minimum level remains the same 20%. This category of clients can take advantage of a deferment in the payment of the principal debt for the period of construction (no more than 3 years) and at the birth of a child (until he reaches 3 years of age). With this loan, you are allowed to use maternity capital as a down payment.
Also, Daromdoma, together with Rosselkhozbank, offers mortgage program using maternity capital when one of the Borrowers/Pledgers must be the manager of maternity (family) capital.
There is an interesting type of lending “Engineering communications”. This loan is issued under special conditions and allows a private home to install water, gas, sewerage, change the electrical wiring, heating system, and even install a telephone.
Table 1.1. Interest rates on mortgage loans in Russian rubles
Down payment amount |
Credit term | |||||
|---|---|---|---|---|---|---|
| up to 60 months (on) | over 60 months up to 120 months (on) |
over 120 months up to 180 months (on) |
over 180 months up to 240 months (on) |
over 240 months up to 360 months (on) |
||
| Mortgage loan for the purchase of residential real estate and construction of a residential building | ||||||
| up to 30% | not less 14,50 % |
not less 15,00 % |
not less 15,50 % |
not less 15,50 % |
not less 16,00 % |
|
| more than 30 - 50% | not less 14,00 % |
not less 14,50 % |
not less 15,00 % |
not less 15,25 % |
not less 15,50 % |
|
| more than 50% | not less 13,50 % |
not less 14,00 % |
not less 14,50 % |
not less 15,00 % |
not less 15,25 % |
|
| up to 12 months (on) | over 12 months up to 36 months (on) |
over 36 months up to 60 months (on) |
over 60 months up to 84 months (on) |
over 84 months up to 120 months (on) |
||
| Mortgage loan secured by existing housing | not less 14,50 % |
not less 15,00 % |
not less 15,50 % |
not less 15,50 % |
not less 16,00 % |
|
| up to 12 months (on) | over 12 months up to 36 months (on) |
over 36 months up to 60 months (on) |
over 60 months up to 84 months (on) |
over 84 months up to 120 months (on) |
||
| Non-target mortgage loan | not less 16,00 % |
not less 16,00 % |
not less 19,00 % |
not less 19,00 % |
not less 19,00 % |
|
These rates also apply in case of registration within:
- Special conditions for the provision of the loan product “Mortgage loan for young families”;
- Special conditions for the provision of the loan product “Mortgage loan taking into account maternal (family) capital”;
- Conditions for the loan product “Mortgage housing lending for employees of JSC Rosselkhozbank”;
- Conditions for the loan product “Residential mortgage lending under two documents.”
You can also get more detailed advice and apply for a loan at all additional offices of JSC Rosselkhozbank.
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's name | Requirements, conditions and documents |
| Requirements for the borrower:
|
Loan for building a house - from 13.4%.
Credit 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 consumer loans for the construction of 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, this is a more complex process of 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!
Anyone who wants to have a country house made of timber must realize that desire alone is not enough, you need to draw up a project and find performers who will help bring all the dreams and fantasies of the developer to life in the finished property. As a material, timber is popular among developers. Only experience and professionalism are the key to the durability of the structure being built. But the most important condition for realizing the desire to buy such a property is the availability of funds. If the desire does not coincide with the possibilities, then everyone has a real chance to purchase houses made of timber on credit at favorable interest rates. On the one hand, the opportunity to obtain a loan allows people with low incomes to purchase housing. At the same time, selling housing on credit allows construction companies to increase the sale of constructed projects.
Company Retail Credit Systems
Together with the company Retail Credit Systems and leading banks, we offer our potential customers the opportunity to build wooden houses from timber, bathhouses, frame houses and log houses on credit
Now you can purchase our products on credit:- Without certificates, having only a passport (Russian citizenship)
- Approval of a loan application in 1 hour
- Without going to the bank
- Loan up to 5 years and up to 2,000,000 rubles
Procedure for loan approval
1. Select the product you want to build and inform our employee (by phone call or email) that you want to order construction on credit.
2. Agree on the cost of the order and the amount of the down payment. Our employee will send an application for a loan to partner banks.
3. Within 1 hour you will be notified of the result of your loan application.
4. If approved by several banks, the credit manager will help you choose the most profitable loan program. You indicate what time and place would be convenient for the courier to arrive to sign the loan agreement.
5. A courier comes to you and you sign a loan agreement.
6. You enter into a construction contract with our company and make a down payment
Questions related to credit
Question: Do you have to go to the bank?
Answer: There is no need to go to the bank, the courier will come to you to sign the loan agreement.
Question: Do you need additional information?
Answer: no certificates needed. The main thing is your passport. It is also advisable to provide a choice of: either a driver’s license, or an international passport, or a certificate of pension insurance.
Question: what are the requirements for the borrower?
Answer: age of at least 21 years, Russian passport, client must have worked at his last place of work for at least 3 months.
Question: In which regions can I get a loan?
Answer: if you live in Moscow, Moscow region, St. Petersburg, Leningrad region or you have the opportunity to come to these cities to sign an agreement (for example, on a business trip or vacation).
Question: Which bank will give me a loan?
Answer: At the moment we cooperate with several banks: MetroBank, Transcapital Bank, My Bank, Moscow Credit Bank, Rosbank, Russian Standard, Home Credit, Renaissance Credit, Otkritie Bank. The list of banks is constantly expanding. The probability of getting a loan from at least one of these banks is as high as possible.
Question: How much will the overpayment be when ordering construction on credit?
Answer: Depending on the loan term and down payment, the overpayment will be from 9 to 12%.
Question: for how long can I get a loan?
Answer: from 6 months to 5 years.
Question: How much can I get a loan for?
Answer: up to 2,000,000 rubles.
Question: what is the down payment?
Answer: on the loan, the initial payment is from 10%. At your request it can be larger.
Question: Can I get a loan and then take the money instead of building a house?
Answer: No. If you fill out an application on the website, the bank provides a targeted loan specifically for building a house.
Partner banks
Full name: “My Bank”
Full name: Home Credit and Finance Bank
Full name: Russian Standard Bank
Full name: Sovetsky Bank.
Full name: Commercial Bank "Renaissance Capital"
Full name: "Moscow Credit Bank"
Full name: "Metrobank".
Lending terms
Required documents
1. Passport;
2. Land certificate/Extract from the Unified State Register;
3. SNILS / Driver's license;
4. For an amount over 1,000,000 rubles. (one additional document at the client’s choice):
- 2NDFL
- Help on bank form
- Copy of work book
- Extract from the Pension Fund (for non-working pensioners)
CB Renaissance Credit (LLC), one of the leading banks in the consumer lending sector in Russia, offers consumer loans, bank cards, deposits and other services to individuals.
Founded in 2003, Renaissance Credit is among the TOP 50 largest Russian banks and works with 12 million clients in Russia. The geography of Renaissance Credit's activities covers 62 regions of Russia.
License of the Bank of Russia for banking operations No. 3354.
Renaissance Credit website – rencredit.ru
Lending terms
Requirements for borrowers
- Citizenship of the Russian Federation;
- Age from 20 years;
- Permanent place of work for at least 3 months;
- Permanent registration in any region of the Russian Federation.
Required documents
- Russian Federation passport;
- One additional document of the client's choice: SNILS, Driver's license, 2NDFL, international passport, copy of work record book, extract from the Pension Fund of the Russian Federation (for non-working pensioners) for a loan amount of more than 250,000 rubles
"Pochta Bank" is a universal retail bank,
created in 2016 by VTB Group and FSUE Russian Post on the basis of Leto Bank.
Lending terms
Requirements for borrowers
- Age from 18 years
- Availability of a mobile phone; indicating your work phone number if you work, or another contact phone number
Required documents
- Passport of a Russian citizen with permanent registration in any subject of Russia
- SNILS number
- Employer's TIN
How to get a loan for a country house
On our company's website you can buy a house on credit. We understand perfectly well that not every person can raise the required amount of money at once. Therefore, such a convenient condition was created to help purchase housing in the most profitable way with the help of Credit Europe Bank JSC. The financial institution is reliable and offers high-quality work, as confirmed by international agencies. There is a huge network in Russia. To get the most detailed and extended information, you can ask our consultants any questions.
