How to take a loan for construction

The loan is essentially an interest-free loan or a loan with a very low rate, so it is unprofitable to credit institutions and private companies. The loan is increasingly expressed in the form of support for its employees or the state - its citizens. About the target loan for the construction of housing, we will describe in more detail.

To get a loan to construction, the following documents will be needed:

documents certifying the identity of each spouse, registration;
Inn;
pension certificates;
certificate of income and extract from the employment record, as well as a certificate of the state of the retirement account from the place of work;
marriage certificate and his certified copy;
certificate of birth of children.

The loan often assumes the presence of a coacher or guarantor. From each participant of this loan, the above package of documents is required. It should be noted that the revenues taken into account when receiving a construction loan are salary, premiums, benefits, alimony, official income from renting or dividends. The list can be continued, the main thing is that the income article will be official confirmation in the form of reference.

Before issuing a loan, the bank will also require a package of documents related to the land plot and the construction plan. Note that the preference of banks gives the following items: better if the construction site is free from any buildings at least before getting a loan and is located somewhere in the suburbs relative to the bank bank. In terms of construction, it is worth indicating monolithic blocks, brick, foam concrete, pinned and glued bar as building materials.

Also, you will also have to visit the urban architecture body, where it is necessary to obtain a formal permission to maintain construction and compile an architectural planning task.

The size of the construction loan directly depends on the cost of the site, since the land will be a key to obtaining this loan. To assess the land plot and give the necessary report to the conclusion, which will be taken to the bank, can only an appraiser with a state license.

In addition to all of the above, most likely, it will be necessary to insure and insure the land plot with real estate on it. Only after that the Bank can solve the issue of issuing a loan for construction in your favor, otherwise you will receive detailed explanations of the reasons for refusal.

The process of issuing an application for a loan for construction is quite long and costly. You will have to lose one day to get some kind of reference in the next bureau. All these costs are cost-effective only when the loan value is large enough. Otherwise, it is more profitable to build a house at the expense of a consumer loan, with him less documentary rolls and get it much easier.