Do circumstances prevent you from obtaining a loan from a bank? Credit institutions have come up with too many reasons for refusal, leaving half of the creditworthy population no chance to receive financial assistance.
For this reason, many Russians are left with the only way to borrow money urgently - from a private person who provides loans without credit history checks and does not require official employment. On our credit board you will find many options where you can borrow money at interest from a private owner. The phone number will be provided in advertisements for which we will not require registration to view.
Who lends money at interest without a bank?
In the modern financial market, banks are not the only lender from whom you can borrow money at interest. Just as quickly, you can borrow money:
- From a private person;
- In microfinance organizations, credit cooperatives and other non-bank credit organizations;
- In collateral pawnshops (for a car, luxury goods, equipment, real estate).
The most profitable way to get money is to borrow money at interest from private individuals - in the private market the loan amount is not limited, and the conditions are quite acceptable. If you are interested in a small amount, then it is more convenient to use the services of an MFO to borrow money on a card via the Internet urgently (a private individual does not have the right to provide remote loans).
How to get a loan to buy a house? And what is important to consider?
Most banks are willing to lend for the purchase of real estate. This is understandable - they risk almost nothing; if the borrower stops paying, the bank will get the property back, sell it and get their money back. All this is true, but with one “but” - we are talking about urban or commercial real estate. As for a country or resort property, it is much more difficult to get a mortgage here.
Why is it more difficult to get a mortgage for a country house than for an apartment? There are several opinions here:
- Firstly, houses are always sold with plots, and as a rule, investors have the most legal problems with plots. These are unformed borders, communications, roads, easements, privatization, inheritance, land disputes, violations of laws regarding the proximity of forests, water, roads and much, much more;
- Secondly, the houses are located outside the city limits, where 100% of liquid real estate is no longer available. Some cottages are built so far from civilization that banks simply do not want to take risks;
- Thirdly, houses are more difficult to sell than apartments. The thing is that each cottage is individual; there are almost no standard layouts, “vests”, series and other things. Obviously, the period of exposure of non-standard real estate is always longer than, for example, “P-44T 2-room 40 sq. m."
Of course, these are not all the reasons. Some banks simply refuse to lend to a “fence” simply following their own rules, without explaining the reasons. Fortunately, these are usually small banks; all top lending institutions will be willing to give you a loan to buy your dream home.
Who are private lenders?
Many advertisements on the Internet begin with the words “I will help you with money at interest.” The following sets out the return conditions and customer preferences (requirements). The author of the ad is an ordinary individual interested in increasing available funds. The relevance of the service is logical - on a bank deposit the investor will earn at best 5-6% per annum, and on a private loan the same profit will be achieved in 2-3 weeks.
At the same time, the flow of clients with the offer “I’ll take money at interest” is inexhaustible - more and more bank “refusers” are looking to borrow money from a private person.
It is legal?
Loans between individuals are not prohibited by law. On the contrary, there are separate articles and concepts for their regulation in the civil code. For example, if I want to borrow from a private person, we must draw up an agreement (promissory note), specifying all the conditions in it - payment, repayment, collateral, etc.
If one of the parties fails to fulfill contractual obligations, the other will have the right to claim the debt in court. Moreover, if the receipt is certified by a notary, the case is transferred for collection without a hearing.
Where to look for money with interest and receipt?
If you need money with interest from a private person, our credit message board is at your disposal - here every borrower can quickly find financial assistance.
Sort through the advertisements that are relevant to your region and contact the lenders personally using the specified contacts to discuss the terms and schedule a meeting. Remember that a personal meeting is the most reliable way to complete a transaction, and the requirement for advance payment is typical only for scammers.
Our service is free for both borrowers and lenders.
Buying or building a house on credit. How much money should you have?
The bigger, the better. Although, of course, all people have different incomes and different amounts of savings. In this regard, there is always a great temptation to believe the advertising and become the owner of a house in installments and without money. Alas, this does not happen. More precisely, there are installment plans, but they must be made with a down payment.
What should the down payment be? Financiers have long calculated all amounts that are not critical for the family budget, and psychologists have derived a number that is comfortable for life. A simple rule is this: it is better to invest 30% in a house immediately, and 30% of income every month. For example, in the Moscow region, houses with plots today cost, on average, 10 million rubles. This means that you should already have savings of 3 million rubles, and arrange a loan in such a way that it does not exceed 30% of your monthly income.
Where can I get these 3 million rubles? If you don't have rich relatives or friends, just work and save. And it is advisable to start as early as possible, say from 25 years old. And if you regularly (monthly) deposit 28,000 rubles into the bank, then in 7 years, by the age of 32, you will already have the treasured 3 million in your account.
Many will ask, but how can this be? After all, 28 thousand * 7 years = only 2,352,000 rubles?
It's really all about compound interest. We took an annual rate of 8% per annum. And the first payment is equal to 28 thousand, a month later again 28 thousand, and then again and again. The deposit amount is growing, and so is the interest from the bank. And it turns out that having nothing but 28 thousand at the very beginning, after 7 years you receive 3,018,290 rubles, of which 666,290 rubles are the bank’s interest for your loyalty.
If you are interested in calculating how compound interest works, we recommend using the calculator on this website: Fincalculator.ru.
Okay, what about the remaining amount - 7 million? You will already take out the remaining amount on credit. Let's say the interest rate is 11% per annum and the loan term is 15 years. Then the monthly payment to the bank will be 79.561 rubles.
Is this a lot or a little? Of course, it’s a lot if you are single and are going to “pull” such payments on your own. But if both spouses work, then the amount is no longer so critical (40 thousand rubles per month from each person’s salary).
Of course, we remember the rule that the monthly payment should not exceed 30% of income, otherwise we will have to save on everything and the purchase of such real estate will bring more disappointment than joy. What to do if the spouse’s salary is small, or he does not plan to work at all (on maternity leave)?
Obviously, there are only 2 options here: either choose a cheaper property or increase the down payment. For example, if you immediately pay not 3 million for a house, but 5, then the monthly payment (other things being equal) will decrease to 56,829 rubles - which is comparable to the rent for a Moscow “three ruble” (only you get your house in the Moscow region, instead of pay the same money for someone else’s apartment).
Of course, this diagram of the costs of buying your dream is very approximate and much is not taken into account. Add here insurance, legal expenses, real estate taxes, costs of repairs and the purchase of furniture, moving... But in general, they are several times less than the costs of the loan, and, as a rule, are “smeared” into monthly expenses.
Private loan terms
If in banks and microfinance organizations you are limited by the loan amount, then in the private market you can find absolutely any offers. If you are not ready to spend money on notary services to certify a transaction, you can borrow up to 100,000 from a private person (since, by law, contracts over 10 minimum wages must be signed by a notary).
At what percentage do private individuals give money? Again, everything is individual and depends on the loan amount. The average monthly rate is 10%, and large loans can be provided at 18-20% per annum.
If you are offered more favorable conditions, check whether the interlocutor is an intermediary. Often, bank employees and brokers help obtain a loan for a kickback from an official organization, posing as a private investor. There is nothing wrong with this if the result is positive - but intermediary services do not relate to a private loan and there is a separate section for them on our website.
How to get a loan to build a house? And what is important to consider?
Some banks are ready to help not only with the purchase of a finished house, but also to finance its construction. This is a more complicated procedure, but if desired, it is quite feasible (though at higher interest rates).
However, keep in mind that a home construction loan is different from a traditional mortgage. In this case, the bank does not repay the borrowed amount in full, but in parts (tranches). And you are required to account for each tranche. This means that for the entire period of building a house, you need to save all documentation, estimates, payments for materials and provide these documents to the bank. In addition, you cannot use this borrowed money for purposes other than construction (for example, notary fees).
The scheme for building a house on credit is also complicated in that you must make any payments only by bank transfer. Please note: any purchases of building materials and services in cash will not be reimbursed by the bank.
Another cost is home insurance. Many borrowers do not like insurance policies, as they consider it another way for banks to “pump” money. In fact, you have a choice - if you don't like the bank's offer, you can insure your home with any other insurance company. But you need to insure it in any case (it’s better to spend a little more money than to be left without a home at all, if there is a flood, fire or hurricane, but with a full bank debt).
Keep in mind that taking out a loan to build a house is not the same as buying a car or a vacation on credit. This is a long-term partnership with the bank. Therefore, it is important to understand for yourself how confident you are in the decision to build your own house and see it through to completion. Sometimes even sacrificing something else.
You must answer several questions:
- How much money will it cost to build in the best and worst case scenario?
- How much money will be “yours” and how much will you borrow?
- What happens in the “worst case scenario”? Will you be able to complete your house without taking out a new loan?
- From a financial point of view, will you be able to simultaneously “pull” the construction of a house and repay the bank debt?
- Where do you plan to live during this time while the house is being built? Do you take into account rental and utility costs?
Try to answer these questions honestly. Remember that not a single construction project in Russia has yet met 100% of the set budget. It is naive to think that things will be different for you. Therefore, always allow for a small overrun (10-20%). If you are having trouble with the calculations, seek help from a financial advisor.
Professional developers will also help you with cost calculations and estimates for building a house. If you are planning to order the construction of a turnkey house, then they will give you the most detailed calculation and take on some of the tasks themselves.
When calculating expenses, keep in mind that in addition to the building itself and laying all the necessary communications (heating, ventilation, sewerage), you will also need to have a reserve of money for equipment and furnishings of the rooms. In addition, additional costs will inevitably arise that cannot be covered by a loan. These include notary, legal or insurance costs.
Sale of land on the Cape near the Volga 88 acres, 165 km from the Moscow Ring Road VIEW
