On credit you can buy not only an apartment, but also a dacha. To do this, you need to find a bank that offers such a loan program, study its terms and conditions and submit an application form for a loan.
We will tell you more about what documents you need to provide and the specifics of the procedure in this article. We will also present a step-by-step procedure for taking money for garden real estate.
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Is it possible to take out a mortgage loan to buy a summer house in SNT?
According to the recently adopted law “On the conduct of gardening and vegetable gardening by citizens,” the concept of “dacha” has been taken out of circulation.
Instead, the concept of “garden house” is now used, that is, a building for exclusively seasonal use, located mainly outside the city. The owner of the house must be a member of a garden non-profit partnership (SNT) and use his plot for growing crops.
Lending programs for the purchase of a garden house (dacha) are quite rare on the market. Basically, banks offer targeted or non-targeted loans secured by existing housing, which can be spent on any purpose, including the purchase of a summer house or land for development.
What conditions must be met to receive funds?
To obtain a mortgage loan for the purchase of a country building, you must have at least 25% of the value of the loaned object as a down payment, and if you take out a loan secured by existing housing, an apartment or house on which an encumbrance can be placed in favor of the lender (about whether take a mortgage on a house and how to get bank approval, read here).
The borrower is required to have a good credit history , a regular source of income and documented proof of citizenship and employment. The seller of the garden house must have all the documents for it, including confirmation of rights to the land plot. For buildings of this type, non-compliance with the standards intended for residential buildings - building area, external structures and engineering equipment - is allowed.
We talked more about the conditions for obtaining a mortgage for a private house with and without a plot and the requirements of banks for a real estate property in this article.
How can you get a mortgage for your dacha?
When trying to take out a loan to purchase real estate, you may encounter various questions. By consulting with experts, you can simplify the process. If you want to apply for a loan to buy a summer house, it is better to get acquainted with the nuances of the procedure in advance.
The legislation does not provide for the possibility of taking out a mortgage loan to purchase a summer cottage. The reason is due to some features of the design of plots in registers. Such real estate is often considered illiquid; banks are reluctant to accept it as collateral.
To obtain a mortgage on land, you choose a type of lending in which it will belong to the bank that issued the money. The property becomes the property of the borrower after he repays the debt in full. The type of product most suitable for this purpose is called “Collateral Lending”. The borrower will have the opportunity to build any structures on the land plot at his own request and use the land for a vegetable garden.
The transfer of a plot of land on a mortgage will be approved provided that this land is intended for agricultural activities and farming. It is impossible to open a hotel on such land without violating the law. The same applies to other types of entrepreneurship.
Before going to the bank to apply for a loan, it is recommended to find out the specifics of the procedure for those wishing to buy a summer house:
- Since the site continues to be owned by the creditor organization until the debt is fully paid, the structures and buildings on it will not belong to the borrower. They also become the property of the bank.
- There is no type of mortgage lending that involves purchasing land without collateral.
- It is not possible to obtain a loan for part of the land, as may be necessary when conducting joint activities with a partner.
- Not all banks provide this type of lending. Prepare for the fact that you will need to go around several organizations.
Do they provide money for the purchase of a country house with land ownership?
You can buy not only a ready-made country house, but also a garden plot . To do this, you will also have to use one of the above bank loan programs: a mortgage or a loan secured by existing housing.
If the plot is without a building, then the lender does not need to provide the bank with government permission to build a house. If you plan to use the land only for gardening, and not for permanent residence, then these documents are not required, just as for the construction of outbuildings (sheds, garages, etc.).
What is required from the borrower and the lender?
Borrowers are required to have a permanent source of income, a good credit history, and for secured loans, the availability of liquid real estate that can be transferred to the bank.
In most cases, banks refuse to accept plots of land as collateral, even for the intended purpose of individual housing construction, gardening and truck farming. Another collateral will be required, and a loan can be obtained in the amount of 60 to 75% of its value. The garden plot is also not subject to insurance - you will have to insure the residential premises, which the bank agrees to accept as collateral.
Buying a dacha with a mortgage from Sberbank
In most cases, such agreements are not beneficial to potential clients. In some financial institutions, such programs are not included in the list of loan products.
Sberbank compares favorably with its competitors by offering affordable.
Sberbank's mortgage purchase program applies to both the purchase of land and the plot. The future owner can buy a ready-made country house, but in this case the property must be as liquid as possible and meet the following requirements:
- availability of communications necessary for comfortable living and recognition of housing as comfortable (gas, electricity, water supply, sewerage);
- capital foundation made of brick, concrete, reinforced concrete, etc.;
- close to ideal condition of the building, the percentage of wear and tear of which should not exceed 40%, the absence of the house on the list of dilapidated housing subject to demolition.
Sberbank also presents a number of characteristics for a plot purchased together with a dacha:
When is a loan impossible?
Buying a summer house on credit is not such a simple matter. A bank can easily refuse a loan if it finds out that the borrower has a low income, has had problems repaying the loan in the past, or has unsuitable collateral.
A loan for a country house with land cannot be obtained if:
- there are no documents for the house and plot confirming legal ownership (for example, there is no certificate of ownership of the land plot in SNT, extracts from the Unified State Register of Real Estate about the ownership of the house);
- there are disputes with neighbors from SNT regarding the boundaries of the site, the property itself;
- the house is a dilapidated building with wooden walls and ceilings, which cannot be accepted as collateral.
A loan secured by existing real estate cannot be obtained if:
- the apartment is in municipal or state ownership;
- other owners are against pledging it;
- Minors and guardianship authorities against mortgages are registered in the apartment.
If the borrower has chosen a garden house for purchase, but there are no documents for it, then the seller must first contact Rosreestr with an application and a certificate of ownership of the plot in SNT. After this, the house will be registered in the registry and it will be possible to carry out any transactions with it.
Where to apply?
| Bank | Program | Bid | Credit term | Sum | Down payment |
| Sberbank | country estate | from 9.5% | up to 30 years old | from 300 thousand rubles | 25% |
| RSHB | Residential mortgage lending | from 8.85% | up to 30 years old | from 100 thousand rubles | 15% |
| DeltaCredit | Mortgage loan to buy a house | from 9.75% | up to 25 years | from 300-600 thousand rubles | 40% |
Mortgage for a dacha in Sberbank
rub.
up to 30 million rubles
However, this rate is valid only for clients who receive their salary into an account opened with Sberbank.
Under certain conditions the rate increases:
What documents should I provide?
To obtain a loan, you will need to collect a package of documents. The bank will be interested in confirmation of employment and income, as well as other evidence of the client’s solvency.
Documents for a loan for a dacha with a plot:
borrower application form;- borrower's passport;
- documents confirming the financial condition and employment of the borrower/co-borrower/guarantor;
- notarized consent to pledge the dacha;
- documents on the provided collateral (certificate of state registration, report on the valuation of the dacha, extract from the Unified State Register of Real Estate, documents for the land plot).
Documents for a loan for a garden house with land:
- borrower application form;
- borrower's passport;
- documents confirming the financial condition and employment of the borrower/co-borrower/guarantor;
- notarized consent to transfer the garden house as collateral;
- documents on the provided collateral (certificate of state registration, report on the valuation of the garden house, extract from the Unified State Register of Real Estate, documents for the land plot).
The procedure for taking money for garden real estate step by step
To apply for a loan, you need to decide on the choice of program and submit documents to the bank. The collateral will need to be assessed by an independent appraiser using your own personal funds (for a country house the price can range from 5-10 thousand rubles). The borrower needs :
- Obtain bank approval for a loan.
- Evaluate a garden house.
- Provide documents about the house being purchased.
- Sign the loan agreement.
- Obtain credit funds and pay for the purchase.
The procedure provides for such an order that first a loan agreement is signed, and then a purchase and sale agreement for a garden house . If you choose a mortgage program for a home.
Differences and features of the procedure if the property remains pledged
If the borrower takes out a loan secured by existing property, the procedure is slightly different from a regular mortgage.
The purchased garden house is not pledged to the bank; instead, the mortgage is placed on the residential property.- It is necessary to insure the object of collateral, and not the dacha.
To receive a loan you need:
- Submit a loan application form to the bank.
- Rate your apartment.
- Submit a complete set of documents to the bank.
- Sign a loan agreement and gain access to loan funds.
- Spend the loan on the purchase of a garden house (dacha) or construction.
The loan amount can only be determined after the property has been assessed. Typically the limit is no more than 60-80% of the assessed value of the collateral. After registering the mortgage agreement with Rosreestr, the apartment will need to be insured .
You can take out a mortgage to buy a garden house with or without a plot (read about how to take out a mortgage for a private house here). To do this, you can find a special program at the bank or take out a loan secured by your existing home. Interest rates on these types of loans start at 9.5% per annum in rubles.
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More and more people are deciding to buy a dacha so that they can then have the opportunity to relax peacefully away from the city, and sometimes live in nature. However, it is often unrealistic to immediately collect the required amount. That is why mortgages for dachas are in high demand, which opens up new opportunities for everyone. Also, dachas with land plots become good real estate for investment. In this case, the option of a mortgage loan is also suitable. Sometimes people know for sure that they will have a free amount sufficient for investment, but not right away. Then they invest gradually, using a loan.
The question arises: is it possible to buy a dacha with a mortgage? How difficult is it, how many documents will you need? Are the offers in banks good enough? In this article we will look at possible options, the procedure for obtaining a mortgage loan for a dacha, features and pitfalls.
The nuances of applying for a mortgage loan for a dacha
Banks began issuing mortgages for dachas relatively recently. This is a new banking product. Therefore, borrowers are subject to increased requirements, including the list of required documents. Accordingly, it is possible to get a mortgage for a dacha, but this will be associated with certain difficulties. You need to be prepared for them in advance.
The problem for the bank is that the dacha cannot be considered liquid real estate. And since the property will be pledged to the bank for the period of lending, the lending institution bears certain risks. Indeed, if the borrower has problems, selling such illiquid collateral will be problematic. Therefore, banks have strict requirements for dachas. The specific decision of the bank depends largely on the condition of the dacha itself.
Let us highlight the distinctive features of such a banking product as a dacha mortgage. These include:
- Loan programs. Mortgage for a dacha is a new banking product. Banks are reluctant to issue loans for dachas because they consider this property to be illiquid. Therefore, sometimes it is advisable to apply for another banking product, for example, a loan for the purchase of land or for the construction of a summer house. Therefore, you need to consider various options. These can be discussed with a banking specialist.
- Interest rates. This type of lending is quite risky, so interest rates in this case are increased. You can't count on receiving benefits. The bank will not reduce the interest rate, even if you are its regular customer, receive a salary on its accounts, have a positive credit history, etc. As a guide, you should expect a rate of 15-20% per year. This is significantly higher than the interest rates on a traditional mortgage.
- Loan terms. There are few convenient options here. The terms of a dacha mortgage are not as flexible as with a traditional mortgage. Typically, the maximum permissible loan term does not exceed 10 years. Considering that the interest rate is high, not every borrower can handle this type of lending.
So, few people know about the possibility of getting a mortgage for a dacha. But it's possible. The situation is explained by the fact that banks do not advertise this product in any way, since obtaining a mortgage for a dacha is unprofitable for them due to high risks. Therefore, the conditions for this loan product are not attractive for the borrower.
Features of obtaining a mortgage for a dacha
The key feature of obtaining a mortgage loan for the purchase or construction of a summer house is the relative novelty of this banking product. That is why lending banks often impose increased requirements on borrowers. Of course, this does not mean that it is completely impossible to get the desired loan in 2019.
However, this can be quite difficult. The whole problem is that with this type of mortgage lending, the dacha acts as collateral, and it is not considered liquid real estate. Is it possible to take out a mortgage to buy a summer house? What are the key nuances for such loans?
Let us dwell on the specific features of a mortgage for a dacha.
- Loan programs. As a banking product, dacha mortgages are not popular. Since the dacha is considered illiquid as collateral, as it is quite difficult to sell, the interest rates on the loan are high. At the same time, there is a good option - to take out a mortgage loan not for the purchase of the dacha itself, but for the purchase of a plot and construction of a dacha.
- Interest rates. There are no benefits provided in this case. Experience, salary and place of work do not affect loan terms. The stakes are quite high. They amount to approximately 15-20% per year.
- Lending terms. Loan terms are not flexible. They are noticeably inferior to mortgages on a residential building or apartment. Most often, a mortgage for a dacha is given for a maximum of 10 years. The annual rate is high, so such a loan cannot be called profitable.
It's time to summarize. Many people are concerned about the question of whether it is possible to take out a mortgage on a dacha with minimal losses. The thing is that this product is generally not very profitable for banks, since lenders consider the risks to be too high. This is why mortgages for a dacha are practically not advertised, which is why many simply do not know about the possibility of taking out a loan specifically for a dacha.
True, purely theoretically, such a loan can be obtained if all the numerous requirements are met. A lot depends on the condition of the dacha. But this will be unprofitable for the borrower himself, since the total amount of overpayment is quite large.
Is it possible to get a mortgage for a dacha?
The pledge implies the possibility of selling the dacha in the event of force majeure circumstances for the borrower regarding payment
A mortgage involves issuing a loan secured by a purchased or other object, and lending for the purchase of a summer house is no exception. However, the very concept of “dacha” is interpreted quite broadly by ordinary people. For some, this is a comfortable house outside the city with all the amenities and a plot of land, while others will be content with the notorious six hundred square meters and a small summer house for farming.
If in the case of an apartment, the requirements for the borrower regarding his solvency and loyalty to the bank come to the fore, then when purchasing suburban real estate, more attention is paid to the condition of the property.
The bank’s decision depends on the liquidity of the potential purchase object: whether the issuance of a mortgage will be approved or not.
Even after obtaining the bank's prior consent, difficulties may arise:
- with the collection of documents - discrepancy between the area of the land plot, the presence of unregistered objects on the site, etc.;
- with assessment - lack of uniform criteria, methods and standards for dacha assessment;
- with insurance - insurance companies charge higher rates, since there is a high probability of fire or intruders.
Bank offers
It is worth noting that not all banks are ready to lend to dachas, since the risks of this product are too high. Therefore, the choice, unfortunately, will be small. You have the best chance of getting a loan from VTB 24 and Sberbank.
Sberbank provides a mortgage for a dacha on fairly favorable terms. The big advantage is the favorable interest rate. It is only 12.5% per annum. True, this will be influenced by many factors. It is important to pay attention to the fact that the down payment for lending will be at least 20%. Mortgages are available from 45 thousand rubles. You can take out a mortgage to build a summer house, buy a plot of land or the house itself.
Pitfalls when obtaining a loan
Of course, you can get a mortgage for your dacha. But in doing so, some difficulties often arise. In most cases, problems begin due to various errors in documents. It often happens that not all necessary communications are provided, and the boundaries of the plots are drawn incorrectly.
The main problem is the very high insurance amount. Since the dacha becomes an object of increased risk due to frequent fires and break-ins, insurance is quite expensive.
If you are having trouble getting your holiday home mortgage application approved, you may want to consider an alternative option. You can get an installment plan from the developer or take out a loan from a partner bank. So, banks have partner developers. When a dacha is purchased from them, the chances of getting approval from the lender are much higher.
Pledge
The collateral is the land plot, all the buildings on it, as well as the country house itself. When the borrower fails to repay the loan, the bank has the right to take away all collateral and sell it.
Thus, we can conclude: they really do provide a mortgage for the purchase of a summer house. But taking out such a loan is not very profitable; it is quite difficult to prepare the documents. Sometimes it makes more sense to take out a mortgage to build a country house.
In this article we will look at which banks are best to take out a mortgage for a dacha. Let's figure out whether it is possible to get a mortgage without a down payment and how to calculate the interest rate using an online calculator. We have prepared a list of required documents for you and collected feedback.
Is it possible to buy a cottage with a mortgage?
If you are having trouble getting your holiday home mortgage application approved, you may want to consider an alternative option. You can get an installment plan from the developer or take out a loan from a partner bank. So, banks have partner developers.
When a dacha is purchased from them, the chances of getting approval from the lender are much higher.
More and more people are deciding to buy a dacha so that they can then have the opportunity to relax peacefully away from the city, and sometimes live in nature. However, it is often unrealistic to immediately collect the required amount. That is why mortgages for dachas are in high demand, which opens up new opportunities for everyone.
Also, dachas with land plots become good real estate for investment. In this case, the option of a mortgage loan is also suitable.
Sometimes people know for sure that they will have a free amount sufficient for investment, but not right away. Then they invest gradually, using a loan.
Sberbank provides a mortgage for a dacha on fairly favorable terms. The big advantage is the favorable interest rate. It is only 12.5% per annum.
True, this will be influenced by many factors. It is important to pay attention to the fact that the down payment for lending will be at least 20%.
Mortgages are available from 45 thousand rubles. You can take out a mortgage to build a summer house, buy a plot of land or the house itself.
Which banks issue mortgages for dachas?
- Amount: from 200 thousand to 99 million rubles.
- Rate: 6 – 14.5%.
- Duration: up to 25 years.
- Down payment: from 10%.
- Approval based on two documents.
- Registration for 1 visit to the bank.
More details
- Amount: from 300 thousand to 30 million rubles.
- Rate: 6 - 11.5%.
- Duration: from one year to 30 years.
- Age: 21 - 75 years.
- Down payment: from 15%.
More details
- Amount: from 300 thousand to 100 million rubles.
- Rate: 6 – 15.5%.
- Duration: from one year to 30 years.
- Age: from 20 to 85 years.
- You can confirm your income with a bank certificate.
More details
- Amount: from 300 thousand to 20 million rubles.
- Rate: 6 – 15%.
- Duration: from 3 to 30 years.
- Age: from 21 to 65 years.
- The application review period is from 1 day.
- You can confirm your income with a bank certificate.
More details
- Amount: up to 25 million rubles.
- Rate: from 6%.
- Duration: up to 25 years.
- Down payment: from 15%.
- Age: from 21 to 60 years.
- You can take out a mortgage using two documents.
More details
- Amount: up to 50 million rubles.
- Rate: 6 – 12%.
- Duration: from 1 to 30 years.
- Age: from 20 to 65 years.
- Down payment - from 10%.
- Application review period is from 1 hour.
More details
- Amount: from 250 thousand to 25 million rubles.
- Rate: 8.75 - 15%.
- Duration: from one year to 25 years.
- Age: from 18 to 65 years.
- Down payment: from 10%.
- You can get a mortgage using temporary registration.
More details
- Amount: from 500 thousand to 20 million rubles.
- Rate: 7.6 - 8.45%.
- Duration: from one year to 20 years.
- Age: from 23 to 65 years.
- Decision on application within 2 days.
- You can get a mortgage without a down payment.
Which banks give mortgages for a dacha?
To choose the best offer, you need to study the conditions of various banks.
- Rate from 6.25%
- Amount from 500 thousand to 8 million rubles in a new building in Moscow and Moscow Region, St. Petersburg and Leningrad Region
- Amount from 500 thousand to 3 million rubles for other regions of the Russian Federation
- Down payment from 20% to 80%
- Duration from 3 to 30 years
- Life and disability insurance
Apply now
- Mortgage amount - up to 50,000,000 rubles
- Interest rate - from 8.59%
- Down payment – from 10%
- Mortgage term - up to 30 years
- 0.4% discount for quickly entering a deal
- Online document processing
- Early repayment without visiting the bank
- Preliminary decision in 1 minute
Apply now
- We will select the most favorable interest rate
- The best mortgage offers
- We will calculate all payments and bonuses
- Will help you prepare and collect all documents
Apply now
How to apply online for a mortgage?
You do not need to come to the bank to apply for a mortgage loan. All you need is internet access. There is a section on the official websites of banks where you can fill out a form and submit it for consideration.
The application contains standard data:
- Passport information.
- Contacts for communication.
- Income and employment.
- Marital status, presence of children.
- Loan amount and term.
You can submit your application online at any time, even on weekends and holidays. But employees will only consider it on weekdays. The approximate time for making a decision is 1 - 5 days.
Mortgage calculator
Using online calculators on bank websites, you can calculate how much you will need to pay per month, what the overpayment will be and other information on the mortgage. For example, let's use the Sberbank calculator.
Enter the following parameters:
- Purpose of the loan.
- Property value.
- An initial fee.
- Mortgage term.
If you are a salary client and agree to insure your life, then check the appropriate boxes.
For example, the cost of a dacha is 3 million rubles, the down payment is one million rubles, the term is 7 years, there is a Sberbank salary card and life insurance will be issued.
As a result we get:
- The mortgage loan amount is 2 million rubles.
- The monthly payment amount is 32,688 rubles.
- The required income for approval of the application is 46,698 rubles.
- The rate is 9.5% per annum.
Affordable mortgage programs for purchasing a garden plot
The company cooperates with the following partner banks:
- Rosselkhozbank;
- Sberbank;
- VTB 24;
- Credit Bank of Moscow;
- Bank of Moscow.
These credit institutions offer their clients the following favorable conditions for purchasing the necessary land for gardening under mortgage programs:
- the cost of monthly payments in the amount of 10.9 to 12 percent per annum;
- the amount of initial contributions from 15% to 30% of the total value of the land asset;
- loan term up to 30 years.
These programs allow you to obtain the necessary land and pay small monthly payments established by the contract. This will not burden your own budget in any way.
Mortgage conditions for the purchase of a summer house
You can buy a dacha, garden plot and other suburban real estate on the security of the property being purchased or the residential premises owned. And, for example, you can get a mortgage from Sberbank under a guarantee.
An initial payment will also be required. Its size varies between 15 - 30% (Sberbank - from 25%, B&N Bank - from 10%). Without a down payment, it is quite difficult to take out a mortgage, and it will be less profitable. Therefore, it is advisable to save up the necessary amount before contacting the bank.
The interest rate, term and loan amount depend on the bank’s conditions. For example, Sberbank offers to buy or build a dacha at 9.5% per annum. The minimum loan amount is 300 thousand rubles, and the maximum term is 30 years. Binbank sets a rate of 8.7%, a term of up to 30 years and a minimum amount of 500 thousand rubles.
When applying for a mortgage, bank employees will offer to conclude a life and health insurance agreement. You have the right to refuse it, but then the interest rate will increase by about 1 - 2% per annum. You will also need to insure the property purchased on credit - this insurance cannot be refused.
How to buy a dacha with a mortgage: bank conditions, registration procedures and reviews
up to 15 million rubles
- Rate: 6 – 14%.
- Duration: from one year to 20 years.
- Age: from 21 to 65 years.
- Down payment: from 10%.
- You can confirm your income with a bank certificate.
Mortgage in Primsotsbank from 6% rate per year
- You can take out a mortgage without a down payment.
- The approval period is from 2 days.
- Amount: from 300 thousand to 20 million rubles.
- Age: from 18 to 65 years.
- Duration: up to 30 years.
- Rate: from 6%.
Mortgage in Niko-Bank from 6% rate per year
- Rate: 6 - 13.5%.
- Down payment: from 0%.
- Age: from 21 to 65 years.
- Amount: from 300 thousand
to 4 million rubles. - Duration: from 3 years to 30 years.
Mortgage at Devon-Credit bank from 9.9% rate per year
- Age: from 21 to 60 years.
- Duration: from 3 years to 30 years.
- Rate: 9.9 - 16.2%.
- Amount: from 500 thousand
to 30 million rubles.
Requirements for borrowers
To get a mortgage for a dacha, you must meet the bank's requirements:
- Age - from 21 years.
- Russian citizenship.
- Registration in Russia.
- Official employment.
- Work experience - at least 6 months in the current place and at least a year in general.
- A stable income sufficient to pay off the debt (the exact amount can be found at the bank).
Banks also pay attention to credit history, even if they do not indicate this in the list of requirements. Therefore, you need to take care of its improvement in advance.
Requirements for the borrower
There are no specific requirements for the borrower. They do not differ from those presented to clients for other types of loans.
- The client must have Russian citizenship.
- The minimum age at the time of application is 21 years.
- The maximum age for full repayment of the loan is 65 years.
- Availability of an official permanent place of employment.
- Registration in the locality where the bank office is located.
- Stable income, documented. It is important that it matches the loan amount.
- Work experience at last place of work – at least 6 months. Minimum experience over the last five years is 1 year.
When applying for a rural mortgage, official employment is not required. You can get a mortgage if you have a personal subsidiary plot for 1 year.
The applicant's credit history must be checked. It should not be zero, and also contain cases of delay. The bank may refuse lending.
Requirements for the dacha
The dacha plot with the house must be highly liquid, so that in case of non-payment of the mortgage, the bank can sell the property and pay off the debt with the proceeds.
A highly liquid dacha meets the following requirements:
- Developed infrastructure, for example, there are stops nearby.
- Concrete, stone or brick foundation.
- A short distance from Moscow or another large city.
- Availability of all necessary communications (water, electricity, gas).
If the real estate does not meet at least one point, the bank will refuse to purchase it.
Requirements for the loan object
Since this lending object is not highly liquid, banks place very high demands on it. In general, for most credit institutions they are as follows:
- Availability of a cadastral passport.
- Availability of bypass routes around the dacha.
- Ensuring a high level of fire safety.
- Good condition of the property itself.
- Requirements for the foundation of the building (concrete, brick, stone).
- The distance from the city in which the bank branch is located should be no more than 120 km (as a rule).
- Availability of necessary communications (sewage, electrical wiring, heating, water supply, etc.).
In many ways, the requirements of banks for dachas resemble the criteria they impose for cottages. After all, it is important for a credit institution that truly liquid real estate act as collateral. Then the bank will be able to sell it faster and more profitably if difficulties arise with repaying the loan from the borrower.
However, most Russian dachas do not meet these conditions. Therefore, it is almost impossible to fulfill these requirements of the creditor bank. As a rule, banks issue mortgages only for expensive dachas, which in many ways resemble cottages. Therefore, the borrowers of such a loan are mainly very wealthy people who will not have difficulty complying with the bank’s requirements. We'll talk about them in the next section.
What documents are needed?
To submit an application, you will need to prepare the following documents:
- Passport of a citizen of the Russian Federation.
- A certificate confirming the level of wages - 2-NDFL.
- Work book.
- Pension certificate (for pensioners).
- Military ID for men under 27 years old.
If the application is approved, you will need papers for the property being purchased. Prepare title documents (purchase and sale agreement), technical documents (cadastral passport) and a certificate of absence of encumbrance (pledge, arrest).
How to buy a summer cottage with a mortgage?
To take out a mortgage on a dacha, you need to select a suitable real estate property and coordinate it with the bank. Employees will conduct a full inspection of the site and make the final decision on purchasing a country house or, for example, building a summer house.
Next, you will need to draw up insurance, purchase and sale agreements and a mortgage agreement. The last step in obtaining a loan is registration with Rosreestr. It is necessary to obtain an extract from the Unified State Register of Real Estate and transfer it to the bank so that it pays the purchase to the seller.
Reviews about buying a dacha with a mortgage
Gennady Zharov:
“I took out a mortgage for a dacha at B&N Bank. I liked the work of the institution, the staff reviewed the application within 2 days, and were always in touch. The lending conditions are good, the interest rate is optimal.”
Gulnara Idrisova about Tinkoff Bank:
Daria Pogodina:
“I would advise you to contact Sberbank for a mortgage for your dacha. I took out a loan there at a low interest rate. The amount was approved for a large amount, and they helped with everything during the registration process.”
Buy a cottage with a mortgage
A mortgage for a country house is issued against real estate, i.e. in case of non-payment, ownership rights are lost, but the dacha will not be liquidated.
A mortgage for a dacha without a down payment is not issued by any bank in Russia. To obtain a loan, you must have savings and deposit them to open a mortgage on a house or a mortgage to build a summer house.
Although similar offers are positioned with a loan term of up to 30 years. Considering that the annual interest rates are higher than other types of lending, it is not a profitable loan.
