Maternity capital down payment on the mortgage. Mortgage under maternity capital
Mortgage under maternal capital is a popular nowadays way of acquiring their own home for young families. Despite the seeming simplicity and transparency of the procedure, a mortgage against maternity capital also has a number of features that you should be aware of before deciding to buy an apartment on bail. In this article we will talk about how to transfer maternity capital against payment down payment, what are the nuances of such a procedure, and also what documents will be required for this.
Mortgage: maternity capital, down payment
Maternity capital gives families the right to receive money guaranteed by the state at the birth of their second and subsequent children.
This financial aid can be used in cases directly established by law. One of them is the possibility of acquiring ownership of residential real estate, including through mortgage lending.
It is possible to use maternity capital to obtain a mortgage in 2 ways:
- To pay off the principal amount of the debt;
- To pay off the down payment.
The only difficulty is that not all banking institutions ready to accept maternity capital as a down payment. However, there are also many who are ready to meet potential borrowers halfway. The interest rate on such loans will be standard: from 9 to 14% per annum.
Don't know your rights?
It is important to note that for registration of a mortgage, it is possible to use maternity capital as a down payment only after the child reaches the age of 3 years. In this case, repay the existing mortgage using the certificate is not prohibited on any day from the date of its receipt.
Maternity capital for a mortgage: conditions
To obtain mortgage under maternity capital, the borrower's family must meet the requirements of the bank. As a rule, these requirements are standard and, when formalized, are usually limited to a certain list:
- The presence of a stable and good income borrowers, at the same time, the experience in the last place of work cannot be less than six months (in some banks up to 3 years), and the total seniority for the last 5 years must not be less than 1 year.
- When registering a mortgage, only "white" is taken into account, that is, the legal income of the borrower. The "black" part of the salary can be taken into account, but as an unstable or additional income.
- Lack of potential borrower in the ownership of residential real estate.
- Housing acquired under the mortgage lending program, after its transfer to the ownership of the borrower, must be registered in shared ownership per each member of his family.
- Good credit history of potential borrowers.
Opportunities for transferring maternity capital to a down payment
In order to transfer funds to pay the initial contribution, you first need to get a certificate for them in the pension fund, which is a confirmation of the right to receive maternity capital.
After that, the borrower needs to decide on the credit institution with which the agreement will be concluded, provide the bank with a copy of the certificate and conclude a mortgage agreement. After that, a sale and purchase agreement is concluded, which must be registered in the register of rights to real estate.
With a full set of documents confirming the right to real estate (sale and purchase agreement, certificate of registration of ownership) and a passport, as well as a certificate, you need to contact the Pension Fund. If the certificate is lost, then a duplicate will be issued. There you will need to write an application for the transfer of funds to the current account of the creditor bank to pay off the first installment.
Attention: cash in cash are not transferable!
What documents need to be provided
To obtain a mortgage under maternity capital, the following documents must be submitted to the bank (the list may vary depending on the individual requirements for the borrower in various banks):
- Documents confirming the identity of the borrower (passport, certificate of registration with tax authority RF, pension certificate(SNILS)). Other documents may be required: passports, driver's license etc.
- Certificate for obtaining maternity capital.
- Documents confirming the borrower's solvency: a certificate in the form of 2-NDFL, certificates in the form of a bank (certificate of income, certified by the employer's stamp, usually reflects the size of the "black" salary or bonus), certificates from tax office, if the borrower has additional sources income (renting a garage, movable property etc.), as well as a certificate of the absence of arrears on obligatory payments.
- Documents confirming the conclusion of the transaction: the contract for the sale of residential premises.
- Documents relating to the acquired property: an extract from the house book, a certificate from the BTI, technical passport of the premises, etc.
- Certificate from the pension fund on the availability of funds in the borrower's account.
- Statement of Obligation to Issue not living quarters into common shared ownership.
V Pension Fund You need to provide:
- a document confirming the borrower's intention to conclude an agreement (issued by the bank after the application is submitted);
- data on the residential premises acquired under the contract;
- borrower's personal documents;
- application for the transfer of funds.
Note!
- When you plan to use your maternity capital, you must notify the Pension Fund of this at least 6 months in advance, since the amount of payments is planned once every six months. Thus, in order to receive capital in the fall (second half of the year), you must write an application in the spring (in the first).
- If you have already used your maternity capital for any needs (for example, for the education of a child), then you will no longer be able to use the remaining part in order to pay the initial contribution. Now you can use the remaining part only to pay off part of the existing housing (mortgage) loan.
- Before choosing any credit institution, determine for yourself whether you are going to purchase ready-made housing or will participate in shared construction... It is important to determine this immediately, since, despite the increase in risks, in the second case, the benefits of the future owner are undeniable, since the cost square meters will be noticeably lower.
- After the transfer of the residential premises into the ownership of the borrower, the apartment must be registered for all family members in equal shares (spouses, children and other citizens equated to family members).
- When applying for a mortgage under maternity capital, you must choose the right living space that you want to purchase. The fact is that the calculation of the maximum loan amount in this case will be calculated somewhat differently. The amount of maternity capital is added to the available average income of spouses or other working family members acting as co-borrowers on a mortgage loan. After that, it is determined market price of the acquired housing (you name the price for which you are purchasing the residential premises), if you are allowed such a loan, then the amount of the first installment is calculated. The down payment is usually 10% of the required amount. If the maternity capital fully covers the required amount, then everything is in order, and if not, then the borrower will also need to make the difference between the amount of maternity capital and the size of the calculated initial payment.
- After registration of an apartment in a mortgage and registration of agreements with Rosreestr (sale and purchase and mortgage agreement), an encumbrance is imposed on the dwelling. This means that you will have the right to dispose of property (sale, exchange, donation, etc.) only after you fulfill your obligations to repay the loan, or part of it. Prior to that, in order to carry out any transactions with such property, it is necessary to obtain permission from the mortgagee (bank).
- Insurance. Insurance is an integral part of mortgage lending. Moreover, various banking structures put forward their requirements regarding this condition. In some credit structures, it is enough to insure the loan itself in case the borrower is unable to repay the loan due to disability or loss of work, including due to downsizing. Other banks also require property to be insured against its accidental loss, or loss of its value due to damage due to reasons beyond the borrower's control. And sometimes you may be faced with the requirement to insure the life of the borrower or borrowers. Do not forget that in the event early repayment of the loan, you will be able to return the paid, but not used part of the insurance.
Indeed, until 2015, it was generally forbidden to use public money for the first installment. Consider in this article is it possible to use maternity capital for the initial payment of a mortgage and when can these funds be used?
Maternity capital as a down payment on a mortgage
Is it possible to contribute maternity capital as a down payment on a mortgage? Yes, now it is possible, previously it was prohibited. But you shouldn't think that everything will go smoothly and painlessly.
First, what should you think about - can you even afford a mortgage? Okay, now it seems that you have enough funds. What if a family member gets sick?
It should also be borne in mind that a mortgage is a great chance to lose both housing and mat capital as an initial payment on a mortgage, if suddenly there is a debt that you cannot pay off and the court will foreclose on the mortgaged apartment. Even status won't help a large family, will be evicted anyway.
The second difficulty is the choice of the bank. Unfortunately, the situation is that fewer and fewer banks agree to deal with parent capital. And those who do go for it, as a rule, do not hesitate to raise the interest rate.
So, let's take a closer look: "Can maternity capital be used as a down payment?"
Maternity capital and mortgage, see the video:
What does the law say?
As stated, for quite some time now Federal Law No. 256-FZ option where maternity capital - the initial payment on the mortgage was not provided at all. It was possible with the help of a subsidy only to repay the loan body or interest.
However, in 2015, the State Duma approved bill No. 752376-6, which allows the use of the family "case" to pay the initial contribution.
Important: it will be possible to make an initial payment on a mortgage with maternity capital only upon reaching the second or subsequent offspring of three years.
This rule does not apply only to the repayment of the body of the loan. Debts and penalties cannot be repaid by the subsidy received, never, under any circumstances.
Terms of Use
Actually, there are few of them:
- the presence of an official job for both spouses;
- lack of other living space in the property;
- valid entitlement to a maternity certificate.
- civil identity card;
- SNILS;
- certificate;
- mortgage agreement (copy);
- a notarized obligation to endow all family members with shares (performed after the encumbrance is removed from the dwelling).
Why is there no phrase “transfers funds”? And because he will not do it yet.
If the subsidy was disposed of in this way - using maternity capital as the first installment on a mortgage - then the mechanism is somewhat different than with a simple loan repayment.
The certificate itself does not mean bank check, but only symbolizes the right to receive funds.
And behind the words "payment of the initial payment" lies the following - the client is issued another loan, but this time under the family capital. This loan is used as a down payment.
The interest rate on it is 8.75%. This is exactly the amount set by the Central Bank as the refinancing rate. That is - a small, but significant premium to the interest on the loan.
And the family will have to pay this premium until the mortgage loan is repaid in full! Only then will the Pension Fund transfer the money to the bank.
Bank requirements
The general requirements for financial institutions are as follows:
- the presence of official earnings and white wages;
- general work experience of at least five years;
- at least six months at the last job;
- income declaration of close relatives;
- attracting co-borrowers.
In addition, banks may declare additional requirements, which we will discuss below.
VTB 24
requires the submission of the following documents:
- providing information about education;
- copies of employment contracts;
- information about all available loans;
- information about the presence of valuable property.
Sberbank
The additional ones include the provision of:
- the presence of two guarantors;
- work experience in the last place from a year;
- attracting co-borrowers;
- data on the income of close relatives;
- good credit history.
Read about the repayment of the mortgage by the maternity capital in Sberbank and the Pension Fund.
Rosselkhozbank
This organization is generally extremely reluctant to agree to any softening of conditions. Extreme does not like to agree to refinancing if the family has any financial difficulties.
The applicant's credit history will be checked.- is it possible to use maternity capital as a down payment for a mortgage to a specific person. You can attract up to three co-borrowers.
As for the restrictions, an apartment with an initial payment of maternity capital can only be one that would be at most ten times more expensive than the family capital.
And as for new buildings, then even less - in five. In addition, the facility should not be under construction.
As already mentioned, in the case of the first installment at the expense of the family "case", the situation is different than with the simple repayment of the loan body or its percentage. Answering the question: "Is it possible to make maternity capital as a first installment on a mortgage?" you must understand that instead of one loan, you will have, as it were, two.
It is easier to save up for a down payment than for the whole apartment, so you need to think about everything several times possible options... And in general, if there is at least one chance - do not take an apartment on credit, with the first installment of maternity capital!
In any case, in loan agreement it must be definitely mentioned that the mortgage is housing, that this is a home loan, not a simple consumer loan. There is no provision at all for the last use of maternity capital as a down payment.
It should also be remembered that any is always a risk. And it doesn't matter if it is a mortgage with parent capital as a down payment or some other kind of mortgage loan.
As a result, not everyone is left with their apartments. If it comes to bankruptcy and the sale of the mortgaged home at auction, the amount of capital cannot be returned.
And from this, and even in a difficult economic situation, one cannot be insured in any way. Simply put, you will find yourself homeless and without a subsidy.
You need to set yourself up for the fact that they generally like to "hike" interest rates almost to the maximum to everyone who declares mate capital on the down payment on a mortgage.
It may well happen that your rate turns out to be almost 20% per annum. Can your family do this? If in doubt, it is better to discard this option.
Especially it is not necessary to provide "fake" certificates of 2-NDFL. After all, if you find yourself in a difficult situation and the bank checks, then you can easily be accused of illegally obtaining a loan, and this will mean a court and criminal liability.
Hello! The topic of our meeting today — maternity capital and mortgage. Read the post to the end, and you will find out: how the mortgage with maternity capital is issued, the maternity capital mortgage program is in the TOP - 5 banks of the country (how the mortgage conditions are implemented), maternity capital and military mortgage(features of receipt and repayment), how to send maternity capital to the mortgage account. Let's get started!
At the birth of a second child, parents do not always know all the conditions and features of obtaining a mortgage with state support and maternity capital . In order to obtain a matron capital (for a mortgage), you must have two children. It is given to the mother of two (or more) children. It is paid after the appearance of the second child, regardless of whether it is twins, triplets or an adopted child (also has no influence on the number of children born after the second, and whether the parents are divorced).
The Russian one-time aid program is provided for Russian citizens only. Therefore, if the mother and child have Russian citizenship, they are provided with maternity capital, even when they live abroad.
This legislative project started at 00:00 on January 1, 2007. If the birth or adoption of the child took place before this date, the parents will not be paid the family capital. If the 2nd child appeared before the date when the bill begins, when the third (fourth) child appears, you will still receive a mat. capital.
Often the mother receives the funds, but sometimes difficult or even accidents occur. In the event of the death of the mother (2nd child), divorce with the loss of maternity rights, the funds are due to the father, but if both parents die, finances are provided to the child.
The child will be able to use the capital after reaching the age of majority and only for the purposes specified by law:
- Loan repayment (PF extinguishes debt);
- Mortgage in the amount of maternity capital;
- Getting an education.
- Mom's pension.
- Social adaptation of disabled children.
If there is a divorce of a husband and wife, the family capital is not divided. Even if the spouses decide to divorce, the subsidy remains with the owner. It often happens that a divorced person thinks that he can sue or divide the family subsidy funds. But when a divorce occurs, housing (acquired through subsidies) can only be considered for an even division.
When the program started in 2007, you could spend - on housing, on child education and education funded pension... Later they made a decision to use family subsidies to pay off the mortgage with maternity capital (pay off contributions). And in 2011, the use of money was allowed to transfer to the personal account of the certificate holder.
Thus, the family could build housing on their own. In 2015, the restrictions on the use of mat money were canceled. capital, in order to extinguish the down payment on the mortgage. Also, since 2016, a certificate can be provided for payment, technical devices and adaptation of disabled children.
We remind you that you no longer need to wait 3 years for a child to take out a mortgage!
How to get (technology)
The most popular way to dispose of mother capital is to buy an apartment or house. Let now, perhaps, you do not need it, but you can take the property for future use and rent it until the child grows up. The emergence of maternity capital dispersed the construction market and became an indirect reason for the rise in prices, especially in the economy segment of studios, which in fact became an analogue of investment deposits.
There are two options to buy a home with a mortgage and mortgage:
- buying an apartment with a mortgage. You can extinguish it in whole or in part at the expense of capital. (There should be your first installment, as a rule).
- Send maternity capital funds to pay PV for mortgages. (Then, in most cases, you don't need your own funds for PV, but there may be exceptions).
Mortgage under the capital is now represented in fact by two legal formats of lending:
- Mortgage with mate capital as PV. The technology is as follows. The mortgage is issued for the full cost of housing. As soon as the mortgage loan is received, it is necessary to urgently apply to the Pension Fund to transfer the capital to the bank to pay off the mortgage. For two months you wait for the transfer and pay the loan with the full amount. Next comes mate capital and reduces the debt to the bank. As a result, your payment or the term of the mortgage is reduced (depending on the bank).
This option for using maternity capital is one of the ways. The rest of the methods can be found in a separate post.
- Mortgage loan secured by maternity capital. A bank, MFI, developer or real estate agency can issue a loan in the amount of equity for the purchase of real estate. The rest of the amount must either be in your hands, or you get it in a mortgage. After receiving a loan, you also go to the Pension Fund and wait for the transfer of funds to repay the loan within two months. Typically, there is an additional charge for this service.
All other ways to cash out maternity capital are illegal. Be careful not to get in trouble with the law. We recommend a free consultation with our lawyer (form below) on how to use the mother's capital. This will save you time and money and will also save you a lot of problems.
How to take a mortgage against maternity capital - the answer to this question will be below.
You must use the program "Mortgage plus maternity capital ». It is found in almost all large and small banks... In the next part of the post, we will talk about conditions in a number of them.
Depending on the bank, the procedure is as follows:
- We are determined with the bank.
- Preparing a package of documents.
- We are submitting an application.
- The mortgage is considered from two to seven business days.
- We get approval.
- We are looking for a real estate option (you can buy an apartment on a mortgage in a new building, secondary housing, buy or build a house, pay a share in a housing cooperative).
- We provide documents on housing to the bank.
- We sign a loan agreement.
- We get a mortgage.
- We register the transaction with the justice system.
- We settle accounts with the seller.
- We urgently run to the Pension Fund and provide the documents for repayment of the mortgage to the mother
- We are waiting for the month of consideration of the application and 10 days for the transfer of funds mat capital
- We turn to the bank for a new payment schedule.
In a mortgage with maternity capital, you can take:
- New building
- Resale
- Finished house
- Pay for the construction of a house
- Mat capital can be invested in shares of housing cooperatives.
The minimum amount of a mortgage for maternity capital is from 100,000 rubles (Rosselkhozbank).
A number of banks under this program require an initial payment of 5 to 10%. What banks are these and under what conditions you will find out further.
Requirements for obtaining a mortgage loan
There are no special conditions that differ greatly from those demanded by borrowers in other loans. In any suitable bank, an application for a mortgage is made, then it is considered by the bank's employees (1-3 days). It is not difficult to get a mortgage, if you have required documents and mortgage conditions:
- Stable average salary;
- Work experience, not less than one year;
- Work at the last job for at least six months;
- You must have certain documents with you - confirming your identity, ability to pay and employment;
- You need to own a certificate - family capital and a certificate of its balance;
- Down payment (at a number of banks).
In general, a normal level of earnings, a stable job and the right to use state aid. Fulfilling the main conditions listed above, you can make a mortgage with maternity capital. Is it possible to calculate what kind of apartment it will be possible to buy, based on the average amount of money provided to pay off the loan per month? Of course it is possible to calculate.
Use our mortgage calculator... It allows you to make a calculation, including taking into account the capital mat. It is used to calculate the monthly payment. You can understand how much to invest (invest) funds, for a particular agreement, whether it is profitable.
Military mortgage
Also, when you receive maternity capital, you can pay off the military mortgage. It became possible in 2012, a family member took out a military mortgage, now with maternity capital, it can be extinguished. It turns out that the military mortgage on the husband can be paid for with the wife's subsidy.
Military mortgage maternity capital can work together, but there are a number of nuances:
- Under the terms of a military mortgage, it is assumed that housing will be owned only by a serviceman, and the PF will require shared ownership, incl. and children. Not every the bank will go to these troubles.
- It is profitable to send maternity capital funds to military mortgages. At the same time, you can save money on NIS and then apply them when registering another apartment.
- As a first installment mat capital + military mortgage can be used, but it will be difficult to carry out such an agreement through Rosvoenipoteka and the bank.
To resolve these issues, you need to contact the bank or consult our lawyer.
Top 5 offers of banks
Sberbank
With the help of this bank, housing under construction or ready-made housing is purchased on credit. There is the possibility of issuing a mortgage loan for the capital, and for the first installment or part of it. A mortgage loan secured by maternity capital is obtained on the following conditions:
- Amount from 300 thousand rubles.
- Rate from 8.9%
- Life insurance 1% of the amount (if canceled + 1% to the rate)
- Up to 30 years.
The advantage of this bank is the ability to take into account additional income without confirmation. Sberbank issues the most large amount mortgages, all other things being equal, among other banks.
VTB 24
There is a program "Mortgage plus maternity capital".
- Amount from 600 thousand to 60 million rubles.
- Rate from 9.7%
- Up to 30 years.
- Insurance from 0.5%
It is worth considering that a mortgage using maternity capital is issued with a mandatory PV of 5%. This is a definite disadvantage. But there is also a plus. VTB 24 does not take into account dependents when calculating solvency, and this increases the approved amount of the mortgage.
Uralsib
Mortgage With Parent Capital Is Provided.
- Amount from 300 thous.
- Rate from 9.9%
- Term 360 months.
- Insurance is very cheap from 0.2%
In Uralsib good rates... The bank does not look very deeply into the credit history, which will allow you to go through the mortgage if there were small "sins" with paying earlier on other loans. But the bank requires 10% PV to the parent capital if you have the form of a bank, and not 2 personal income tax.
Raiffeisenbank
Mortgage + maternity capital program:
- Amount from 600 thousand rubles.
- Gives a mortgage from 9.9% per annum,
- The loan term is 1-25 years.
- Insurance from 0.2%
There are very good rates in Raiffeisen. They, like VTB 24, do not take into account dependents, but if you have a bank form, then you need to have 10% PV own funds... You can take a cottage on a mortgage.
Rosselkhoz
Provides a mortgage for maternity capital on the following conditions:
- Rate from 9.4% per annum,
- A loan can be issued for up to 25 years
- The bank can borrow from 100 thousand to 20 million rubles.
- Insurance from 0.3%
Mortgages for maternity capital - provided for all bank programs. During the registration of a loan for real estate, you can buy: a house and a plot, an apartment, housing with participation in the construction, a plot of land for residential development, an unfinished object with land.
How to pay off a mortgage with parent capital
The law allows the use of maternity capital for a mortgage. And parents have different ways to pay for it, even an existing mortgage.
Capital, the majority of families (in case of divorce, a single mother or father) is spent on an apartment in a mortgage, an apartment in a mortgage is the only chance for most families. But, it is worth knowing that the capital pays only the accrued amount to be paid. And the penalties imposed during the delay in payment can only be extinguished in cash. The mortgage issued to the father is covered by a certificate issued in the name of the mother of the children.
When a mortgage loan is closed, with money from maternity capital, the borrower has the right to demand from financial institution, return part of the insurance premium. The terms of the mortgage loan, the insurance obliges, and the amount of the annual insurance can be significant. Therefore, do not miss the chance to return a certain amount of money.
Often with a refund, questions do not arise, but if suddenly something is wrong. These issues are quickly resolved by contacting lawyers (fill out the special form in the right corner on our website).
And do not think that the option of attracting maternity capital will have a bad effect on credit history... The very fact of early repayment of the loan will have a positive effect on your credit history.
news
The head of the Federation Council of the Russian Federation, Valentina Matvienko, proposed extending the term of the Maternity Capital program until 2025, which will help a large number of families receive support.
Also, do not forget about the allocation bill. We wrote about him earlier.
Outcome
Maternity capital with a mortgage is a very convenient and profitable way to solve housing problem and even earn extra money. The capital invested in housing can generate a stable rental income. And if all legal conditions are observed during all procedures, then there will be no bad consequences and as a result, the family can greatly reduce the financial burden and improve the standard of living.
Maternity capital for the purchase of an apartment- it is really profitable. It is a pity that this program will be suspended in 2019.
What do you think it is Last year mate capital? Unsubscribe in the comments.
How do you think we should wait for this or not?
The maternal certificate has become in the most efficient way ease the burden of mortgages on families with children. Such effective assistance from the state has been going on since 2007 and for 2018 the amount of maternity capital is 453,026 rubles.
This amount, according to the law, can be spent on improvement housing conditions(including mortgages), for the education of a child, social adaptation of a disabled child and for a mother's pension. The purpose of this article is to discuss the issue of using maternity capital for a down payment on a mortgage.
You can spend maternity capital on a down payment on a mortgage, even if the child is less than 3 years old
On May 23, 2015, the President of the Russian Federation V.V. Putin signed Federal Law No. 131-FZ "On Amendments to Articles 7 and 10 Federal law"On additional measures state support families with children "", which from the moment of its signing it is allowed to spend maternity capital on a down payment on a mortgage ... Let's remind, earlier, it was allowed to use capital for the first installment only when the child was 3 years old. This information is also available on the website of the Russian Pension Fund.
Before going to the bank and starting the procedure for applying for a mortgage, spouses should remember a few important points:
- First you need to have a certificate on hand, and only then apply for a mortgage;
- Comply with the basic requirements for the amount of income sufficient to service the mortgage. At the same time, even when using maternity capital, it is not forbidden to attract co-borrowers.
- It is forbidden to use maternity capital when buying real estate on land, the status of which is not individual housing construction.
What amount of a mortgage loan should a family expect, taking into account the right to use maternity capital? The bank calculates a possible loan, taking into account the joint income of the spouses (as well as co-borrowers, if necessary), and then adding the amount of maternity capital to this amount. In addition, when paying with capital by the first installment, its value is reduced by the amount of maternity capital.
Example: a family, based on income, has the opportunity to get a mortgage loan in the amount of 2 million rubles, in addition, 30% will be the down payment, i.e. 600 thousand rubles. Thus, the bank will be able to give a loan in the amount of 2 million + 453 thousand = 2.453 million rubles, and the client needs to make 600 - 453 = 147 thousand as an initial payment. rubles. It turns out that the maternity capital increases the possible loan amount, and at the same time it pays the first installment.
What kind of apartment can you buy? There are restrictions on legislative level no. You can buy an apartment both in the secondary market and in a new building. In the latter case, the bank may require an agreement on equity participation.
How things stand in practice
- You must choose a bank that issues a mortgage using maternity capital. He should be provided with a set of necessary certificates, such as: identity documents; income certificates; maternity capital certificate; documents on the composition of the family. In the case when the mortgage is issued for the husband - a marriage certificate.
- After reviewing all the certificates and calculating the possible loan amount, the bank issues a confirmation letter to the client, which is valid for 6 months. Simultaneously with the trip, the bank can immediately apply to the Pension Fund with an application for the transfer of maternity capital against a future mortgage.
- After the Pension Fund confirms its consent to the use of maternity capital in the form of another application, the client again goes to the bank with him.
- After completing the purchase and sale transaction, the client again goes to the Pension Fund, this time with an application for the transfer of maternity capital funds, now providing a full list of documents, such as: credit and mortgage agreement, a certificate of ownership, a written, certified commitment to allocate, within 6 months from the date of removal of the encumbrance from the housing, shares in it to all family members, including children.
The following point is worth noting.
To be able to use the maternity capital, the bank will require the client to provide documents for the ownership of the purchased real estate, i.e. those documents that end up on hand after sale and purchase transactions. And at the same time, to complete the transaction, the client needs a bank mortgage loan.
Is there a vicious circle? For this, banks use the following technique - they give the client 2 loans at once, one of them is standard, for most of the purchased apartment, and the second for the initial loan. Therefore, until the pension fund transfers the maternity capital funds to the bank's current account (as a rule, within 3 months), the second loan will have to be paid out of its own power. At what rates and conditions the second short-term loan is issued against the future repayment of it by the parent capital - all this must be clarified directly at the bank itself. It should also be remembered that the Pension Fund of the Russian Federation may refuse to transfer funds to a bank account. These cases are rare, and more often associated with the applicant's carelessness, inaccurate certificates.
Therefore, you should calculate your strength in advance as soon as the bank approves the issuance of a loan, because assistance from maternity capital can "drag on" in time.
As you can see, you will have to run a lot and collect a lot of papers, but your own housing and help in the amount of 453 thousand rubles is worth it. With the change in legislation, it is hoped that many more families will use government assistance in the form of maternity capital, including to pay off the down payment on mortgages.
Which banks accept maternity capital to pay the down payment
In fact, banks do not care whether you use maternity capital or not. After all, the state pays for it. The only catch may be that the time frame is greatly increased when a certificate is used. Therefore, not all banks are ready to cooperate with such clients in obtaining mortgage loans. Here is a list of some banks where you can use maternity capital to pay the first installment on a mortgage:
- Sberbank;
- VTB 24;
- UniCredit Bank;
- VTB Bank of Moscow;
- DeltaCredit;
- and several smaller banks.
One of the most pressing issues for many Russians is the housing issue. The cost of real estate in cities is quite high. Considering the average size wages our fellow citizens, then you can save up for decades to buy your own square meters.
One of the best options for purchasing a home is a mortgage. But in order to get a loan, the borrower must make a down payment. Where to get them? A young family can use maternity capital as a down payment. Below we will show you how to do this.
Maternity capital: is it possible to pay an advance payment on a mortgage?
Each bank sets its own requirements for the borrower. But one rule applies to all institutions. In order to buy an apartment on credit, you must make a mortgage payment of at least 15-20% of the cost of housing. If your own savings are not enough, then this is not a reason to abandon your plans.
To support young families financially, officials have approved a series of social benefits. In particular, maternity capital. It can be used as a down payment.
But, there are some problems that a young family may face:
- To use this social benefit, as the first installment on a mortgage, at least three years must elapse from the moment the child is born. To repay a valid mortgage loan, capital can be used at any time.
- Not every seller will agree to a parent capital deal. After all, he will have to wait until the state transfers the initial contribution to the account.
Mortgage under maternity capital: all the nuances of the transaction
Have you weighed well the pros and cons and are 100% sure that you can pay off your mortgage on time and without delays? In this case, you can start applying for a loan.
First of all, you need to study the terms of lending in various banks and choose the most advantageous offer. The next stage is the provision of documents necessary for making a decision on possible lending.
This list includes:
- passport:
- maternity capital certificate;
- income statement;
- a document from the FIU confirming that the maternity capital has already been paid to the account.
After the application is approved, the mortgage transaction is concluded. It should be noted that the clearance process collateral loan pretty complicated. Its registration will take up to 10-14 days.
Overview of proposals in 2016
The undoubted leader in mortgage lending is Sberbank of Russia. More than half of the issued housing loans are issued in this financial institution.
A mortgage with maternity capital can be obtained on the following conditions:
The minimum loan amount is 300 thousand rubles, and the maximum is 80% of the cost of the acquired housing.
Loan term - 30 years. Minimum advance payment is equal to 20%. It can be paid using maternity capital funds.
The amount of the interest rate depends on the contribution made and the term of the loan. It is 12.5-13.5% per annum. If the borrower does not have salary card Sberbank, then the rate increases by 0.5%, and if the personal insurance- by 1%.
Borrowers who meet the following requirements can use this program:
- age from 21 to 75 years;
- total work experience of 12 months, and in the last place of work - 6 months;
- has Russian citizenship;
- stable source of income.
If the mortgage payment is over 50%, then the client may not provide documents for financial condition and employment.
The mortgage program from Sberbank of Russia has significant advantages:
- Minimum interest rate;
- Lack of hidden fees;
- Individual consideration of the application;
- Transparent lending conditions;
- Preferential terms for young families.
The only drawback is the lengthy decision-making process (up to five days).
Bank of Moscow offer
In this financial institution, you can also get a mortgage with parent capital. The advance payment is 20%. In this case, the borrower must pay at least 5% of his own savings, and at the expense of the mother's - 15%.
Interest rate - from 11.65% per annum. If the client wants to get a decision on the application as soon as possible and cannot provide documents on the financial condition, then the Bank of Moscow offers a unique offer - no formalities.
A financial institution is ready to consider an application in one day on the basis of only two documents. But for such loyalty, the bank increases interest rate by 0.5%.
As we can see, there is still a chance to get a mortgage without even having money for an advance payment. Don't miss it and become the owner of your own square meters.