Mortgage loan for a garage and parking space in Sberbank: conditions, interest and how to apply. Features of getting a mortgage for a garage Where is it better to get a loan for a garage

Buying a garage is not the most popular type of mortgage loan, so finding those single banks that offer this service is not easy. This loan is classified as a target loan, so the funds received can be spent exclusively on the purchase of a garage. And nothing else.

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It should be noted that in addition to loans for the purchase of garages, Sberbank has developed more than one mortgage lending program under which the population buys both secondary (finished) and primary (not yet completed) housing. Moreover, you can buy not only an apartment within the city, but also a house outside the city. Considering the variety of mortgage programs, more and more Russians prefer to apply for loans from this bank. But what is more important in our turbulent financial times is the opportunity to refinance your debt by transferring it from another bank, or if there are temporary difficulties with repayment.

As for the conditions of most Sberbank loan programs, borrowers are most attracted by the absence of additional monthly fees and the relatively low down payment, which starts at 15%.

Features of a loan for a garage at Sberbank

Representatives of Sberbank note quite favorable conditions for the mortgage program for the construction or purchase of a garage in their bank. The main points of credit conditions can be noted as follows:

1. the size of the initial advance starts from 15%;
2. the annual percentage does not exceed 15%;
3. the ability to repay the loan over 30 years;
4. the collateral for the loan can be any real estate of the borrower (agreed with the bank), as well as securities, jewelry or a third party guarantee;
5. if we are talking about individual construction, the borrower has the right to ask for a deferment of payments or an increase in the loan term. To do this, you must provide certain documents that the bank will take into account during the review. Among them there must be a document indicating a significant increase in the total cost of construction. Every borrower can take advantage of these benefits if one condition is met: the mortgage loan for the construction of the garage was issued no more than 2 years ago.

Interest rates in rubles:

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Special conditions for Sberbank's garage mortgage program

Anyone who has a Sberbank salary card can become a participant in the preferential mortgage program. It will also be offered to all employees of those organizations that have been fully accredited and meet the bank’s requirements. Another advantage of the existing loyalty program is the down payment reduced by 5%: for participants the advance payment will be only 10% of the cost of the garage or parking space.

Under special conditions, the lender can issue a loan secured by the garage that is being purchased. And what is most important, even for an unfinished facility. In this case, the collateral will be the property rights to the garage.

Requirements for potential borrowers

As for age, the borrower must already be 21 years old and at the time of full repayment of the mortgage loan under the agreement. The borrower must have an official place of work where he or she has already worked for at least 6 months. The total work experience must be at least 1 year.
If a loan for the purchase of a garage is taken out by a married person, then his or her spouse must act as a co-borrower. Even if they have nothing to prove the latter’s solvency. As an exception, the bank may consider the spouses’ marriage contract, which describes in detail the property relationships of all family members.

List of required documents:

• Borrower application form;
• Application form for the pledgor of a legal entity;
• Passport of the borrower (co-borrower(s)/guarantor(s)/mortgagor(s) – if available);
• Documents confirming the financial condition and employment of the borrower/co-borrower/guarantor (not required for clients receiving wages into an account opened with the Bank);
• Documents on the collateral provided (if another real estate property is pledged as collateral for the loan).

Most often, bank clients take out loans and mortgages to purchase real estate such as apartments, houses, etc. Lending for the purchase of a garage or parking space is not the most common type of mortgage lending.

Mortgage for a car space

It is for the reason stated that not every bank offers a mortgage for the purchase of a parking space. Most often, people have to take out a loan on a general basis. Unlike its competitors, Sberbank provides targeted mortgages for the purchase of specific real estate. But it’s worth knowing that if you receive a loan, you can spend money on buying a garage only on its purchase and nothing else.

Separately, I would like to note several more programs from Sberbank, which it offers on favorable terms to its clients. These are lending programs for purchases of secondary real estate, apartments in new buildings, and country real estate.

Due to the fact that the range of different types of loans provided is quite large, Sberbank is attracting more and more clients. In addition to the above, services are also provided for refinancing loans from other banks, and also, in case of temporary financial difficulties, it is possible to get financial holidays and defer repayment of the loan.

It should be noted that there are very favorable lending conditions for other Sberbank programs. For example, loans with a small down payment are very popular among borrowers. The down payment amount in such programs starts from 15%.

Getting a mortgage or loan to buy a garage

If we talk about the benefits of loans from Sberbank, we should separately dwell on the conditions for obtaining a loan under a targeted program for the purchase of real estate.

When applying for a loan to purchase a garage, check whether you are satisfied and satisfy these conditions:

• A loan for the purchase of a garage can be taken out for a period of up to 30 years.
• The down payment can be from 15%.
• The annual interest rate for the use of borrowed funds is from 15% (details should be clarified on the official website of Sberbank, as conditions may vary depending on the size of the refinancing rate or ongoing promotions)
• Real estate owned by the borrower is secured as collateral.
• There are also conditions for deferring loan payments. They apply if the loan for individual construction was issued no more than 2 years ago, and you have submitted the necessary documents about the increase in the cost of real estate construction.

Loan rates for the purchase of a garage

Interest rates in rubles:

Additional special mortgage conditions for the purchase of a garage

In order to take advantage of a loan for the purchase of a garage and take advantage of additional preferential conditions, you must be the owner of a Sberbank salary card. If you decide to use such a lending program, you will be offered conditions for loyal customers, and this, for example, means a reduction in the rate on the down payment by 5%. In this case, it will be equal to 10% of the purchase price of the property.

The bank can also issue a loan specifically against the collateral of the purchased property (in our case, a garage).

Requirements for borrowers

The borrower must be at least 21 years old and not older than 75 years. Also, the borrower must have an officially confirmed source of income from the main place of work. Work experience, in this case, must be at least 6 months.

If the borrower is married, his/her spouse is involved as a co-borrower and guarantor.

What documents are required to apply for a loan to purchase a garage?

Now let's go through the list of required documents:

• Initially, you need to fill out a borrower form at the nearest bank office.
• You will also be asked to fill out a form for a legal entity mortgagor.
• Documents for collateral property.
• Passport of the borrower and guarantor.
• Documents confirming your official income from your main place of work.

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Similar materials

Not every car owner can purchase or build a reliable, high-quality garage for its storage due to lack of money. It is for this reason that many people consider making such a dream come true through a garage loan.

Buying a motorhome is not the most popular type of mortgage loan, so finding those single banks that offer this service is not easy. This loan is classified as a target loan, so the funds received can be used exclusively for the purchase of a motorhome.

With the annual increase in car sales to the population, the crime rate is growing: more and more lovers of quick money are trying to get the car itself or its contents at their disposal. How to protect your car? How to reduce the wear of its structural parts under the influence of precipitation, dust, insects, and animals?

Types of mortgage lending.

You can build a motorhome or build it yourself. The idea is not bad, but its implementation will require money. If they are not there, you will have to look for other options. For example, accumulate the required amount over a period of time. But often this path will take a lot of time. Then the optimal solution is to borrow money, but who should you ask from?

Contact your bank! This commercial institution offers clients good loan terms if the borrower is able to prove his creditworthiness by providing all the necessary documents, including a certificate of income. It is also advisable to select one or two guarantors and offer the bank property as collateral.

This is the optimal solution when a very small amount is not enough to purchase a motorhome.

If you have no money at all, it is better not to take a cash loan. It will be unprofitable due to the relatively short loan period and high interest rates for using loan funds. And not everyone can afford the size of the monthly payment.

Another viable option is mortgage lending. A mortgage for a garage is a special type of lending to individuals under conditions of urgency, repayment, and payment. It cannot be called overly widespread, since not every bank provides this service to the population.

However, if you wish, you can find those commercial institutions that are able to finance these purposes.

How to get

To get a loan for the construction of a garage, you need to collect the necessary package of documents and contact the bank that provides such services. First, experts recommend studying the banking sector and identifying the most profitable agreements for the purchase of a garage building.

Make a comparative description of the requirements that different banks put forward to borrowers.

Mortgage program “Garage”.

Write down the pros and cons of mortgages from different banking structures. This will make it possible to choose the best lending options and evaluate the cost of a given loan, because not all commercial banking structures provide a mortgage for a garage under the same conditions. More on this below.

Conditions

If a commercial structure lends to a person, it puts forward certain requirements that the borrower must adhere to unquestioningly:

1. One of the main conditions that must be met in order to receive bail money is making a down payment. The size of the one-time payment varies by 30% or more, depending on the specific bank;
2. Repayment of funds received with interest must be made strictly within the deadlines specified by the bank. Most banks issue a mortgage for a garage building for a period of 10 years, some increase this period to 50 years;
3. The third condition is the maximum amount possible to receive. Almost all financial organizations limit it to 3,000 thousand rubles with an annuity method of repaying a mortgage loan. In other words, a mortgage for a garage is issued to the population with almost the same conditions as a regular mortgage loan.

List of documents

When taking out mortgage lending to purchase a motorhome, it is important to provide the lender with all the documents requested by him according to the list:

• application form from the borrower;
• application form of the mortgagor-legal entity;
• original passport of the borrower/co-borrower/guarantor/mortgagor;
• documents that act as direct evidence of the financial condition and employment of the borrower/co-borrower/guarantor;
• documentation on the collateral, if provided. If one of these items is missing, the bank has the right to refuse a person a loan.

What to do if refused

Bank credit conditions.

If the bank issues a refusal, what does this mean? This situation confirms that the lender considered the borrower to be insolvent and his level of income to be low. You can get out of this situation if you attract a sub-borrower under mortgage agreements and provide collateral. For example, excellent collateral for a mortgage loan is a car, house, etc.

Interest rates

The size of the annual rate on a credit loan determines the amount of the down payment and the term of the loan. Almost all banks adhere to the scheme - an inverse relationship between the mandatory payment and the rate.

For example:

• when applying for a loan for a period of 10 years with a one-time deposit of 15-30%, the rate will be from 14%;
• with a down payment of more than 30%, the rate will decrease to 13.75%;
• if the loan will be repaid to the lender over a longer period of time, the rate is calculated from 13.75% only with a 5% contribution from the cost of the garage.

Requirements for the borrower

Each commercial bank imposes certain requirements on its borrowers who take out a garage mortgage. If the person who wants to get a mortgage does not meet them, the lender has the right not to cooperate with him.

Mortgage loan under the “Garage” program.

1. The borrower's age is from 21 to 75 years at the time of full repayment of the mortgage to purchase a garage;
2. Official employment with existing work experience, at least six months, and at least one year of total experience;
3. If there is a spouse with whom the borrower is officially married, the couple acts as co-borrowers. The level of income and generally whether the spouse has it is not taken into account. The exception is those spouses who signed a prenuptial agreement upon marriage. The document must describe in detail the features of the property relationships of each family member.

It is extremely difficult to obtain a loan secured by a garage without confirming the borrower’s income level.

Mortgage for a garage

To obtain a loan for the purchase of a garage under the most favorable conditions, you should carefully study the offer of the banking sector and identify for yourself the most acceptable lending conditions for a particular bank. Let us describe the most popular commercial banking structures today engaged in mortgage lending to the population.

No down payment

Sometimes, people get a garage mortgage without having the funds to pay the down payment. This happens only when the client has an impeccable reputation, in the opinion of the banking structure.

For example, a bank issues a positive decision on a mortgage agreement if it has been serving the client for a long time with other types of lending without problems, confirms his impeccable reputation, and knows his credit history.

On a note! Without a fairly stable salary and extensive work experience with your current employer, it is almost impossible to get a mortgage without a down payment.

In Sberbank

If you need to draw up a loan agreement for the purchase of a garage, you should contact V Sberbank . This is one of the few banks that provides clients with fairly favorable lending conditions for such purposes.

How to get a loan for a garage from a bank?

At this time the conditions are as follows:

• the minimum down payment is 15% or more of the entire mortgage;
• the minimum amount under the mortgage agreement is 45 thousand rubles;
• The interest rate is 13% per annum and higher.

On a note! If a parking space purchased under a mortgage agreement is located inside a newly built building, then the amount of the down payment may be reduced. Other discounts and preferential lending conditions are available only to bank clients.

A Sberbank representative will carefully review the documents provided, analyze the borrower’s creditworthiness, and draw up a conclusion. If a person’s individual income is not enough, he may be offered to attract co-borrowers or guarantors.

In VTB 24

Many owners of VTB24 credit cards are interested in whether it is possible to take out a mortgage for the construction of a garage from this bank, is it worth taking it here? VneshTorgBank allows you to receive credit funds and spend them on the construction or purchase of a finished motorhome.

The bank's terms and conditions are:

• the amount of mandatory payment can vary from 30 to 40%, which corresponds to the annual rate - from 15.45 to 16.35%;
• when depositing from 40 to 60% of the loan amount, the bank can offer the client a rate from 14.95 to 15.85% per annum. The most favorable rates are available to clients who have contributed over 60%, namely from 11.9 to 15.05% per year;
• The maximum loan term is 25 years.

In other banks

We will describe the conditions for mortgage lending to the population of other banking institutions, for which we will compile a table. The conditions specified in it will allow you to evaluate the attractiveness of the contract in these commercial organizations for the population.

Bottom line

If you really want to buy or build a garage, but you don’t have your own capital for it, you can use a mortgage from a banking structure. Mortgage lending for a motorhome allows you to purchase or build a structure using loan funds on the terms of payment, urgency, and repayment.

A mortgage for a garage and parking space at Sberbank is a targeted loan that allows the borrower to solve the problem of parking his car. Let's take a closer look at the program conditions and design features.

You can buy a parking space for a car using borrowed funds from Sberbank under the following conditions:

• loan term – no more than 30 years;
• share of the down payment – ​​from 25% of the market price of the property;
• loan amount – no more than 75% of the value of the collateral (the amount is specified individually for each client).

Loan collateral can be:

• pledge of the purchased garage/parking space;
• pledge of any other real estate owned by the borrower, comparable to the loan amount;
• guarantee of third parties.

If the amount of borrowed funds under the loan agreement does not exceed 1.5 million rubles, then the bank may agree to one guarantee from an individual who meets the solvency requirements. No deposit is required here.

If the amount is more than 1.5 million rubles, then a deposit will be required.

Also an important condition for approval of a loan application is the mandatory purchase of a property insurance policy for the entire period of repayment of debt to the bank. In case of refusal of such a service, the bank has the right to refuse to issue a loan.

Interest rate

For the product in question, the base interest rate applies to categories of clients receiving wages into an account with Sberbank - 10.3% per annum.

In addition, the following surcharges apply:

• +0.5 p.p. – if the borrower is not a participant in the bank’s salary project;
• + 1 p.p. – in case of refusal of the client’s personal insurance (his health and life);
• +1 p.p. – is established for the period until the registration of the transaction to encumber the pledged object.

The percentage shown is comparable to standard mortgage products. Taking out such a loan will be much more profitable than a regular consumer loan, for which the rates are significantly higher.

What can you buy?

Since the loan is of a targeted nature, the loan agreement will clearly state the purpose of the borrowed funds. Accordingly, the bank will transfer the established amount to the account of the seller of the purchased property. No cash payments are allowed.

The purpose of obtaining the loan in question may be to purchase:

1. Garage.
2. Car spaces (usually a parking space in the underground parking of modern residential complexes).
3. Garage with land.

NOTE! If a garage with land underneath is purchased, the mortgage will be issued on two objects at once: the building and the plot.

You can also submit an application in order to receive the necessary amount to build your own garage. True, in this case you need to be prepared for the fact that the credit institution will carefully check the target expenditure of the money provided.

Requirements for the borrower

Requirements for potential borrowers are a standard list applicable to most Sberbank loan products. Among them:

• age limit – from 21 to 75 years;
• availability of stable employment with work experience in the last place of at least six months and one year in total;
• sufficient solvency to timely service debt;
• positive credit history;
• citizenship of the Russian Federation.

If a garage is purchased by a legally married borrower, the spouse automatically becomes a title co-borrower, subject to the same requirements as the main borrower.

How to apply for a mortgage for a garage and parking space at Sberbank

You can apply for a mortgage for a garage and parking space at a convenient bank branch authorized to accept such applications. It is acceptable to submit an application online through the lender’s official website.

To submit, you must prepare the necessary package of papers in advance and fill out and personally sign the application form at the bank office. Before this procedure, it is recommended to consult with a bank manager about the details and conditions of the loan, as well as obtaining preliminary calculations for future payments and overpayments.

You can check here.

The procedure for obtaining a mortgage at Sberbank

The procedure for applying for a loan to purchase a parking space or garage includes the following main steps:

1. Search for the object to be purchased (it is worth deciding in advance what type of parking space for the car will be purchased).
2. Concluding a preliminary purchase and sale agreement with the owner, in which it is necessary to specify the terms of payment using a loan and the timing of registration of the transaction (it is better to immediately warn the seller that it is planned to issue a targeted loan and a non-cash payment scheme).
3. Collection and preparation of a set of papers (if a secondary object is purchased, an appraisal from an accredited appraisal company will be required).
4. Submitting a loan application at the selected bank branch.
5. Consideration of the application and submission to the Credit Committee for discussion (each application is considered on average 2-7 working days).
6. Concluding a loan agreement and a security agreement (mortgage or guarantee).
7. Payment of the down payment (at least 25% of the price of the parking space or garage is paid by the borrower by transfer to the seller’s bank account).
8. Encumbrance of the collateral object in the Registration Chamber or MFC (in case of a bank requirement to transfer the purchased object as collateral).
9. Final settlement between the bank and the seller (also non-cash).

IMPORTANT! If Sberbank has approved a client’s loan for the construction of his own garage, then he will need to provide a drawing (plan) of the future construction, an estimate as close to reality as possible, and detailed information about the contractor being hired. The information provided will be analyzed by the bank taking into account reliability and possible risks.

Mortgage insurance

According to Russian legislation, for any lending products that involve the transfer of purchased real estate as collateral to the bank, only property insurance is mandatory. Such an insurance policy protects the object from loss and damage, and, accordingly, minimizes the potential risks of the lender.

The bank may recommend purchasing personal insurance at the same time and protecting your life and health from possible negative factors. It is not mandatory. However, like any other lender, if Sberbank refuses to purchase it, it will automatically increase the base interest rate by 1 percentage point.

Any pressure in this matter and an indication that in case of refusal a negative decision will be made will be illegal.

The insurance product you are interested in can be purchased at Sberbank Insurance.

Electronic mortgage registration

More recently, an electronic transaction registration service became available to Sberbank clients applying for loans secured by real estate. The bottom line is this:

• The borrower is assigned a personal manager who will prepare a package of documents necessary for the transaction and send them electronically to Rosreestr;
• the registration authority will accept the package of papers and begin registration;
• If the outcome is positive, the client will receive documents with a state registration mark by email (extract from the Unified State Register of Real Estate and a purchase and sale agreement).

The package of documents submitted for registration includes a copy of the borrower’s passport, a signed loan agreement and a mortgage agreement. The entire procedure takes place without any participation of the borrower, since the manager himself interacts with Rosreestr. The time frame for electronic registration is significantly shorter than a standard transaction.

The service in question is paid. The commission amount ranges from 5,550 to 10,250 rubles, depending on the region and type of collateral.

Discussed in detail in a special post. Be sure to evaluate the pros and cons of this procedure.

Payment and early repayment

Repayment of debt on an issued loan is carried out in accordance with the monthly payment schedule, which is an integral part of the concluded loan agreement. Each interest period, the client is obliged to make the next payment in a strictly specified amount no later than the specified date. The payment scheme used is equal monthly (annuity) payments.

Payment can be made via:

• Internet banking (Sberbank-Online);
• cash desk of any bank branch;
• payment terminals and ATMs of Sberbank;
• transfer from third party bank accounts;
• terminals and ATMs of other credit institutions;
• Russian post office;
• available translation services (Zolotaya Korona, Unistream, etc.);
• payment terminals Qiwi, Eleksnet, etc.

It is important to know that any third-party methods of transferring money to the borrower’s loan account can take up to 5 business days to credit funds. Therefore, such transfers should be sent in advance.

Each client, if possible, has the right to repay his debt ahead of schedule. There are no commissions, prohibitions or additional payments. To do this, you will need to write an application in any form addressed to the head of the bank’s structural unit and indicate the date of the upcoming payment and the amount of the deposited amount.

If an early partial payment is made, the amount of accrued interest will be recalculated in favor of the client (downwards).

A loan for a garage or parking space at Sberbank allows those who wish to receive favorable lending conditions. Funds are allocated for a period of up to 30 years at a rate of 11.6% per annum with a one-time payment of at least 25% of the amount of the purchased object.

We remind you that you can sign up for a free consultation and assistance with paperwork as part of a free consultation with a specialist. Sign up in a special form on our website. We will call you back.

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Today banks offer various mortgage options, including for a garage. Buying real estate today requires a lot of expenses and you don’t always have personal funds for it.

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It is possible to purchase a garage with the help of a mortgage; banks have developed special programs for such loans.

Bank programs

Financial institutions offer several to choose from.

The garage can be purchased as a new building, on the secondary market or in an underground complex. Some banks are also ready to issue a loan for the construction of real estate of this type.

Only the garage must be unfinished; most banks do not provide mortgages for individual construction.

However, the conditions for each program will be different.

Conditions

Depending on the chosen program, the bank puts forward requirements. One of the main conditions is that some banks require at least 30% of the cost of the garage.

As for the timing, it all depends on the specific financial organization:

• some banks provide a mortgage loan for the purchase of a garage for up to 10 years;
• others may stretch out the debt payments by 50.

The maximum amount in almost all financial institutions is limited to 3,000,000 rubles.

Almost all banks provide only mortgage loan repayments.

Sometimes a financial institution may require a subborrower or collateral. Interest rates depend on several factors.

Interest rates

The annual rate on a mortgage loan is affected by the size of the down payment and the terms of the loan.

Almost all banks have a scheme - the higher the required payment, the lower the rate.

Eg:

• if you take out a loan for a period of up to 10 years and invest 15-30% one-time, then the rate will be from 14%;
• if the down payment is more than 30%, then the rate is already lower - from 13.75%.

But if you take out a loan for a longer period, you should count on a rate of 13.75% only if you make a contribution of at least 50% of the cost of the garage.

Requirements for the borrower

All banks offer almost the same to the borrower:

• age – not less than 21 years and not more than 75 years at the time of the last loan payment;
• mandatory condition – the potential client must be officially employed;
• total experience of at least 1 year, at the last job for 6 months;
• the salary must be at least average so that the borrower can pay the mortgage on time.

If the client is married, then all requirements apply to the spouse:

• the husband or wife will be under a mortgage loan agreement;
• the only exception is if there is one that defines the property relationship between the spouses.

Mortgage for a garage

The cost of garages today can reach or even be higher than the price of a car. A garage mortgage is a fairly new product on the lending market. Many people have already taken advantage of the opportunity to obtain a loan to purchase this type of real estate.

No down payment

In principle, there is no such thing as a mortgage. There is only a loan secured by existing real estate; in this case, a mandatory payment may not be required.

But it is worth considering all the risks; if the client stops paying the mortgage, the bank will take the collateral for subsequent sale.

In Sberbank

A mortgage for a garage in Sberbank is provided on favorable terms. Interest rates are low, requirements are standard.

It is worth noting that Sberbank is the only financial organization that provides loans for individual construction.

In addition, the bank provides a deferred payment or an increase in the loan term if the borrower can document an increase in construction costs.

It is acceptable to attract sub-borrowers, guarantors or provide real estate, securities, or precious metals as collateral.

The conditions are as follows:

• if the down payment is 15 - 30%, then the rate will be from 14 to 14.5%;
• for clients who have made a one-time payment of 30 to 50% of the cost of the garage, the bank gives a rate of 13.75 - 14.25%;
• the most favorable conditions are provided to those who can contribute at least 50% of the price - 13.5 - 14%.

Depends on the loan term.

In VTB 24

This bank issues money for the purchase of a ready-made garage or for an unfinished one. The program has its drawback - the initial payment is too large.

In VTB 24 you can immediately apply for 2 mortgages:

• for housing;
• to the garage.

But there are certain conditions, for example, if the garage is located in an underground complex, then the amount of the mandatory contribution must be at least 30%, in the case where the property is located on the ground - 40%.

There are some points to consider:

• up to 2.5% is added to the basic rate if the garage is purchased in a new building and there is no registration in the bank’s favor;
• is added up to 3% if insurance is taken out exclusively for the loan object itself.

The conditions are as follows:

• if the mandatory contribution is from 30 to 40%, then the rate will vary between 15.45 – 16.35%;
• when the client is ready to contribute from 40 to 60% of the cost of the garage, then the bank is ready to offer 14.95 - 15.85% per year;
• with a contribution of 60%, VTB 24 gives the most favorable rates - from 11.9 to 15.05%.

In other banks

In addition to the 2 largest banks in the country, there are financial organizations that also provide favorable mortgages for garages.

Below is a table of bank conditions:

How to get a?

The provision of a mortgage for a garage depends on the results of an analysis of the client’s credit history and solvency.

An integral part of the procedure is. Sometimes the bank can conduct such an examination on its own, which significantly reduces the client’s expenses.

In order to get a loan, you need to insure not only your garage, but also yourself - in case of job loss or death.

List of documents

In order for the bank to consider a mortgage application, it is necessary to collect the following documents:

• passport;
• income certificate;
• sometimes a letter of guarantee from a guarantor;
• registration certificate for the garage;
• document from the Bureau of Technical Inventory;
• confirmation of ownership of the object from the seller.

What to do if refused?

Banks do not always provide a mortgage for a garage.

This is due to the fact that such an object is not reliable security in the event of non-payment of the debt; it will be very difficult for a financial organization to sell the garage. There are cases when such buildings are simply demolished.