To repair their own homes can require a significant amount of money. Redecorate the apartment or House loan you can use the services of specialized financial-credit organizations. As credit organizations may make credit unions or banks.
Credit unions offer quick and simplified loan for house repair with the provision of the minimum of the necessary documents, but set higher interest rates on loans and issuing credit amounts relatively small sizes. Home repair loans received from credit unions allow you to perform relatively small in volume and cost of repairs.
Such loans include:
Credit for major repairs.
Credit for carrying out cosmetic repairs.
Credit for installing special doors, Windows, garage doors or gates.
Credit for the purchase of building materials.
Loan to pay for repairs.
Take credit for repair in a bank is much more difficult, but banks offer more meaningful credit at lower interest rates and more convenient conditions of repayment of the loan.
It should be noted, however, that banks provide such loans are usually secured by real estate-apartments, residential or other buildings, together with the land on which they are located. To the same target lending to repair houses engaged in not all banking organizations.
The size of the loan is determined by the timing of its maturity and the appraised value of the collateral. As a rule, the loan amount does not exceed 70% of the price-60 deposit. When receiving such credits monthly Commission, often absent, and one-time fee of up to 3%.
Repayment terms vary from 1 year to 5 years. This rate largely determines the size of the interest rate on the loan, which can be 20-25% per annum. Some banks offer their customers customized mortgage interest rates, which are determined by the level of the initial payment, the size of the confirmed income and other factors.
Loan repayment can be made either in monthly installments (equal payments at fixed intervals) or the monthly interest on the remainder.
It is also envisaged, and the possibility of early repayment of interest-free loans.
List of documents for deciding on loans:
Application of the borrower on loan.
Passport of the borrower.
Certificate about the appropriation of the borrower.
For individuals provided by providing certified employer inquiries about income for the last 6 months.
Legal persons must submit documents on State registration of the enterprise and report on its financial performance for the past 4 quarters.
The Bank may nominate and other additional requirements, in particular, to insure the repayment period repair.
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To get it, the borrower must find a bank issuing credit for repairing a house or an apartment and to apply for the registration of loans. how do i get a loan for a house, how hard is it to get a loan for a house, can i get a loan for a house, home repair loan, Unlike targeted loans, consumer credit to repair private homes, apartments or cottages can be obtained without collateral, Those wishing to obtain a loan for the renovation of a private home can take advantage of special proposals. Take a consumer loan for house repair, apartments, housing. To get credit for major repairs, send an online application form.