Loans secured by a land plot are as diverse as numerous mortgage programs for the purchase of housing. Hundreds of banks offer their own way to solve financial difficulties for clients who own land. The specific borrowing parameters depend on the selected bank and loan program, the timing of the expected repayment of obligations and the required loan amount. At the same time, you can manage to attach a wide variety of plots both for individual housing construction or the construction of commercial facilities, as well as agricultural land. We will understand the actual loan products related to land.
Unlimited land loan from AkBars
AkBars Bank is ready to lend money not only when providing residential or commercial real estate as collateral, loans secured by land are also relevant.
Borrowed funds are provided under such a program to individuals for a period of up to 10 years in the amount of 10,000 rubles. Interest rates in rubles are 15.9-17.9% per annum, and in dollars or euros - 11.9-13.9% per annum. The land accepted by AkBars as a pledge should be classified as
land in settlements. The plot must be evaluated and also insured.
Money secured by agricultural land at the Rosselkhozbank
You can take a loan on bail at the Rosselkhozbank, but not all plots are suitable when you contact this bank — only agricultural land will arrange it . This loan can be obtained for any current or investment purposes both by a private person and legal entities or entrepreneurs. The maturity of obligations reaches 8 years. Mandatory independent assessment and insurance of the land in favor of the creditor bank. The remaining borrowing parameters are individual and determined only after evaluating the potential client.
Tetrapolis is ready to give up to 45 million rubles for land
Tetrapolis Bank will provide a three-year loan secured by a land plot worth from 300 thousand to 45 million rubles. The loan amount can reach 100% of the collateral value of the land. The decision will be made quickly, and the money will be transferred within 3-7 days from the date of appeal. The rate is 14-18% per annum in rubles or 10-17% in foreign currency. Additionally, it is proposed to issue a personal insurance policy.
What should we build a house ... with VTB24
But VTB24 Bank provides loans against the security of a land plot not for free consumer purposes or for business, but for a specific task - building a house on the land that will be provided as a security. A loan can be issued in 5 tranches - as the various stages of construction are completed. The repayment deadlines are solid - from 3 to 30 years. The minimum loan amount is from 490 thousand rubles, and the maximum limit is limited to 200% of the value of the land. The cost of credit resources is from 12.1% per annum.
Domestic banks offer a wide variety of loans secured by a land plot, you just have to find the best option to borrow money with a minimum overpayment.