Mortgage for large families: possible benefits. Loan to large families in Sberbank
Global problem For most families, especially those with many children, this is the lack of spacious housing for all members of a large family to be comfortable.
One of the main directions of the social policy of most states is the support of families with three or more children.
A large family is an officially registered family or marriage in which there are three or more children.
Social support for such households, as mentioned above, is guaranteed by the state.
State program for large families
At the moment, there is no specific state program for large families. However, there are numerous offers from banks and state institutions (Sberbank, AHML) that imply preferential reduced interest rates (from 2 to 4% per annum).
Improvement in 2017 living conditions by obtaining a preferential mortgage can be achieved through the use of maternity capital, a one-time tax deduction for real estate.
Applications from large families are considered quickly, it takes 2-3 days. Solvency affects the positive decision of the bank. Apart from total income all officially working family members, you can attract grandparents to become co-borrowers. And then their income is also summed up. Generally, large families allowed to attract up to 6 co-borrowers.
Preferential mortgage for large families
Many commercial and government structures have developed quite acceptable schemes that provide mortgage benefits to large families. Thus, real help in the purchase of housing provide banking structures such as Sberbank of Russia, AHML and other commercial banks.
What is a mortgage from AHML?
AHML is a housing mortgage lending agency. They offer the best deals. mortgage lending for large families, where a whole range of advantageous offers is provided:
- the initial payment is from 10% (when using mother capital);
- lending rate for mortgages with state support - from 10.5%;
- when buying housing in a new building - from 12%, in the secondary market - from 12.25%;
- return calculation loan funds performed in such a way that monthly payment families accounted for no more than 50% of the total income of all working family members;
- there are deductions from the interest rate for large families;
- assistance program (mortgage loan restructuring) for families with one or more minor children.
Mortgage of Sberbank of Russia
Consider the terms of the mortgage from the Savings Bank of Russia.
The minimum rate is 11.25% per annum.
According to the scheme developed by Sberbank, a young family with many children, when applying for a mortgage, can attract up to six co-borrowers. This greatly facilitates the financial fate of a young family and facilitates the very possibility of obtaining the consent of the bank to provide a mortgage.
In addition, Sberbank provides a deferral of loan repayment up to five years in the event of the birth of another child.
Sberbank is developing another more profitable mortgage lending scheme for large families.
It should be noted that real help and profitable mortgage families with many children has been developed by many banking, commercial and government agencies regional level.
Apartment without a previous owner: from the developer, in a new or under construction building.
The apartment is from the owner - a private person.
House outside the city.
The land on which the client will independently build a house.
These mortgage options have different terms and rates.
- Minimum size: 300 thousand rubles.
- Amount limit: no more than the cost of the selected housing minus 15%.
- Maturity: up to 30 years.
- Percentage of accrual: from 12.5%.
Mortgage in VTB24
A mortgage for a large family at VTB24 has a number of advantages. The amount that the bank can give you is up to 8 million rubles, depending on the region and your total income. The interest rate will be only 10.2%, and the first installment from 20%. You can always use maternal capital to pay off a loan or down payment if this amount is not less than the required one.
Favorable mortgage for large families at the regional level
Here concrete examples concessional lending in regions:
In the Krasnoyarsk Territory, in 2011, a bill was adopted that provides for real assistance to families with four or more children. Funds are allocated from the budget to repay 75% of the loan rate, but not more than 150% of the Central Bank's refinancing rate. If there are five children, then the state fully repays the loan rate, but on condition that it is less than two refinancing rates.
In the Novosibirsk region, families with many children classified as low-income receive an additional 100,000 rubles from the state treasury.
In Udmurtia, to support large families, very attractive mortgage lending conditions are offered: down payment - 10%; rate - only 5%; additional subsidies in the amount of 200,000 rubles to repay the loan at the birth of a third child.
In the Penza region, thanks to the program envisaged for 2010-2016, families raising five or more children are eligible to apply for state support in the form of 500,000 rubles. This money can be directed to the construction, purchase, repair or reconstruction of housing. One of the areas of state assistance to the most vulnerable segments of the population is mortgages for large families. Unfortunately, it is impossible to get a loan without a down payment. However, you can count on some concessions on the part of creditors. The main ones are: reduced interest rates, longer repayment period, the possibility of raising funds through a parent certificate, one-time cash payments from the budget, etc. Each of these concessions can significantly simplify the fulfillment of creditor obligations.
Going towards large families (having more than three children), the regional leadership develops and implements many different programs to facilitate the decision housing issue.
Moreover, the preferences provided by many social services at the regional level apply to both urban residents and large families living in countryside. In some regions of Russia, mortgages are provided for large families in the form of assistance in acquiring land plot for housing construction.
To improve living conditions in some regions, one-time cash payments are provided that have special purpose for renovation or expansion.
In most regions, mortgages for large families are provided from special regional maternity capital. The creation of such an account at the regional level greatly facilitates the solution of the housing problem for many large families.
What does a large family need to apply for a mortgage?
You need to prepare and take with you the initial package of documents necessary to consider the characteristics of the client. It includes:
- Passport
- Information about spouse, children
- Certificate of a large family
- Employment book or paper from the place of permanent employment with a mark of six months of experience
- Certificate 2-NDFL or other according to the requirements of Sberbank, which indicates the constant amount of payroll accruals
- Information about the income of the second half, which acts as a co-borrower
- Other family accruals (from rent, fees, etc.)
- Systematic family expenses (except utility bills)
If spouses have low incomes, they can enlist the help of relatives or acquaintances whose income level is very significant. They apply as co-borrowers. By agreement, the contract can specify the amount required for payment by the co-borrower. If the client can pay the mortgage himself, but there is no way to prove his solvency, you should not indicate the size.
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Today we will analyze in detail the question: how to get a mortgage for a large family.
Solving the housing problem in a large family is especially difficult. For comfortable living, a one- or two-room apartment is not enough, and the ratio of income and expenses for maintaining a family does not always allow saving money to purchase the necessary housing. The only solution to the problem often becomes a mortgage loan. Do they give mortgages to large families and can they count on preferential terms? More on this later in the article.
The definition of a "large family" is not fixed at the federal level. Regional governments have the right to independently determine the number and age of children in a family in order to recognize it as having many children. In most regions, to obtain this status, you must have 3 or more children, including adopted ones. The maximum age of children can be limited to the range from 16 to 23 years (only if they study full-time and live with their parents).
Are there government mortgage programs for large families?
Unfortunately, there are no special state programs for large families. But there are a number of other mortgage offers that give such families the opportunity to purchase housing on favorable terms.
Mortgage on a general basis
A borrower who has 3 or more children can apply for a conventional mortgage at a commercial bank. The requirements for such a borrower are standard and do not differ from others. the main problem usually consists in the fact that when calculating solvency, income will be divided among all family members, that is, five or more people. Accordingly, free funds simply may not be enough to pay monthly payments. Moreover, in large families, only a man often works, since a woman spends a lot of time raising children. Therefore, having many children will not become an obstacle to obtaining a conventional mortgage loan if the family has sufficient official income.
One way to resolve the issue of income is to attract guarantors and co-borrowers from among relatives who have a stable income. Parents are often potential borrowers if their age permits.
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Mortgage from AHML
One of the options for solving the housing issue for a large family is to apply for a loan through the Mortgage Agency housing loans. Borrowers with three or more children under 18 can get a loan at a reduced interest rate.
The borrower must meet the following requirements:
- age from 21 to 65 years (as of the loan repayment date);
- at least 6 months of work experience in the last position;
- for entrepreneurs, it is necessary to confirm break-even activity for the last 2 years.
The loan is provided on the following terms:
- the minimum amount is 300 thousand rubles, the maximum is 8 million for Moscow, St. Petersburg and the regions, 3 million for other regions;
- interest rate:
- with a contribution of more than 50% - 10.5% per annum;
- with a contribution from 30% to 50% - 10.75% per annum;
- with a contribution from 20% to 30% - 11% per annum.
To pay the down payment, the use of maternity capital is allowed.
How to get help on a mortgage from the state?
Families with many children who previously took out a mortgage from a commercial bank can also count on assistance from AHML, but due to circumstances they cannot repay payments on time. This can be either a one-time write-off of the amount, or a reduction in payments due to a decrease in the rate for a period of up to one and a half years. A family can receive assistance up to 20% of the mortgage balance, but not more than 600 thousand rubles.
Housing subsidy for young families
One of available options getting a mortgage for a large family is a clearance housing subsidy within the framework of the state program "Housing".
An additional advantage for a large family is that the amount of the subsidy is determined at the rate of 18 sq. m for each family member. Therefore, a family of five can count on an amount of 40% of the cost of 90 sq. m of housing at the prices of the region of residence.
In order to apply for a grant, a family must meet the following conditions:
- the age of parents is not more than 35 years;
- be registered as a family in need of better housing conditions (registered before March 01, 2005);
- sufficient income to obtain a mortgage for the remaining cost of housing.
In order for a family to be recognized as in need of better living conditions, one of the following requirements must be met:
- neither of the spouses is the owner of the property, or its area is less than the established norms;
- housing in the property does not meet sanitary and hygienic standards or is in disrepair.
It is worth noting that according to the new rules, the initial step is to obtain a certificate for subsidies, and only after that a mortgage is issued. But in order to avoid wasting time, it is worth knowing in advance about the possibility of obtaining a loan to buy a home. Many banks agree on the amount of the loan based on the income and other characteristics of the borrower, and then give a certain amount of time to apply for a subsidy and find a suitable housing option.
The validity of the certificate for the subsidy is two months, so you need to apply for a mortgage within this period.
Preferential conditions for large families in the regions
A number of regions Russian Federation have their own programs aimed at providing housing for families with many children.
- In Moscow there are a number of programs that are aimed at improving the living conditions of families with children. According to one of them, it is possible to purchase an apartment from a municipal housing stock at 10% per annum with a 10% down payment. When a child appears, part of the mortgage is subject to write-off.
- In St. Petersburg a large family can receive interest-free loan for the purchase of housing from a special organization that was created by local authorities.
- In Krasnoyarsk there is a regional program in which families raising 4 or more children can take part. Its essence lies in the fact that 75% of the interest rate that the borrower must pay is repaid from the regional budget commercial bank on mortgage loan. Compensation rate cannot exceed 150% of the refinancing rate Central Bank. Families with five children are paid the interest rate in full.
- in the Tula region when buying a home, families with many children receive social payment. Its size depends on the number of children. If there are three children, then you can count on receiving 40% of the cost of housing, and if there are six - up to 90%.
- In the Novosibirsk region Families with many children who belong to the category of the poor are paid an additional 100,000 rubles when buying a home.
- In the Penza region families with many children can receive 500,000 rubles from the regional budget. This money can be used not only to buy a home with a mortgage, but also to repair or build a house.
- In Udmurtia a large family has the opportunity to get a mortgage at 5% per annum, with a 10% down payment.
- In Barnaul, from local budget, the family at the birth of a child receives 5% of average cost housing in the region to pay off part of the previously taken mortgage.
The above list is far from complete. To find out the details of benefits for large families in a particular region, you should contact the social security authorities.
The main problem of most large families is the lack of spacious enough housing for all members of a large family to be comfortable. Of course, the most popular solution to this problem is a mortgage. Saving up for an apartment on your own can be very difficult, and saving with a large number of children is completely impossible. Sometimes it is difficult for parents of a large family to save up even for a down payment. There are quite a lot of such families where the number of children is more than 3 in Russia, so the question of how to get a mortgage for a large family remains relevant.
Preferential mortgage for a large family: who is entitled to it
We know that a family with 3 or more children is usually considered to have many children. underage child. However, in our big country these rules may vary depending on the subject of the Russian Federation. According to the law, these things are decided at the regional level, and the cultural and national characteristics of the region are taken into account. In other words, in the Moscow region, a family with 3 children will have many children and can receive benefits, but not in Ingushetia. There you need to give birth to at least 5 children to get this right.
Keep in mind that these rules are constantly changing. At one time, it was necessary to have five or even more children in order to receive subsidies, then these figures may drop to 3, depending on the demographic situation. So just in case, make sure you large family after the birth of the next child or not.
Also ambiguous is the situation when parents divorce and divide children. If, after a divorce, the official guardianship of each of the parents implies less than 3 children, the family loses the status of having many children. If there are 6 or more children and each parent gets 3 children, everything remains valid.
Also, if you marry a person who has more than 3 children, the family is considered to have many children. Adopted children also count.
Usually only children under 18 years of age are meant. The same rule applies to participation in the program of preferential mortgages for large families. However, in some (rather rare) cases, children under the age of 23 who study full-time and live with their parents are considered.
Mortgage for a large family: what kind of program is it
For a long time none separate program for large families was not. There was only a program called "Affordable Housing", which is designed for several categories of citizens at once: these are military personnel, doctors and other public sector workers, as well as young and large families. This program appeared in 2013 and at the moment its validity has been extended until 2016. Banks, competing with each other, reduce rates and offer favorable conditions.
Sberbank was the first to offer such a program. He significantly reduced the interest for program participants, extended the terms of lending, and reduced the down payment. This is important, since it is extremely difficult to pay 20-30% of the cost of an apartment to a large family at once. For a family of 5-7 people, they usually buy large apartments, which means more expensive apartments.
In 2015, several government programs are being considered and developed at once, under the terms of which the percentage will be even lower, and part of this percentage is extinguished from state budget. It is worth remembering that the interest rate alone is a considerable benefit for a large family. implies a percentage almost two times lower than for other bank customers.
How to get a mortgage for a large family: possible options
Families with many children can consider several mortgage options and choose the most suitable one. First and essential condition to receive profitable loan- Do you have a document confirming your social vulnerability. These papers are usually issued pension fund. The presence and absence of this document allows you to determine the next steps.
- If you have such documents, and are also a member of the federal housing program, you receive significant benefits when applying for a mortgage. The state will return part of the interest to you. This is the most profitable option for acquiring housing for a large family.
- You can participate in the Young Family or Affordable Housing program if you are. There will be no payments from the state, but the conditions are much more forgiving. The bank will not only reduce your interest and reduce the amount of the down payment, but also provide other benefits, for example, a delay in the birth of a child or even more low rate when buying a home in a new building. For a family with three or more children, these conditions can make paying off a mortgage much easier.
- If you did not receive subsidies from the state and interest from the budget was not paid off, you can safely count on tax deduction in the amount of 13% of the cost of the apartment. This is quite decent money, which can also be used to pay off a mortgage.
- You can calculate everything in such a way as to pay off part of the mortgage with maternity capital. All banks without exception agree to this. And you do not need to wait 3 years from the moment the child is born. However, it must be remembered that the tax deduction does not apply to this amount. If you used maternity capital for a down payment or payment, these 425 thousand are subtracted from the total cost and after that a tax deduction is calculated from the balance.
- Very often there are various local programs designed to help the poor, large families, as well as state employees to purchase housing on favorable conditions. Find out about the availability of such programs in your city, look for a suitable bank.
Mortgage for a large family: conditions for obtaining
If you participate in the program of assistance specifically to large families, and not just in general program for affordable housing, the first condition will be the presence of 3 or more children under 18 years old with birth certificates or passports, if any. It is desirable that you are officially married, because the spouse (a) necessarily becomes a co-borrower, which means that the total family income is taken into account.
Applications from large families are considered quickly, within 2-3 days. The solvency will also affect the positive decision of the bank. In addition to the total income of all officially working family members, you can attract grandparents to become co-borrowers, then their income is also summed up. In general, large families are allowed to attract up to 6 co-borrowers.
When participating in the Young Family program, one of the spouses must be under the age of 35, and the marriage is officially registered.
Of course, the client's credit history will also be taken into account. If there are small debts that were soon repaid, this will not play a big role.
Both spouses must be citizens of the Russian Federation, have passports with a residence permit in the country.
If you are in a federal program and are eligible for subsidies, you must have documentation with you to prove your need for housing. They can be obtained if the family does not own an apartment, it does not meet the standards, or it is so small that there is a negligible area per family member.
Mortgage for large families on a subsidy
Subsidies assume that part of the cost of housing will be paid by the state. Of course, there are too many people who want to receive such benefits for the state to issue compensation to everyone. Therefore, first of all, assistance is directed to families participating in the federal program and who were on the waiting list before 2005.
Mortgage benefits for large families can take various forms. For example, you can receive compensation in the amount of 1/3 of the cost of the apartment. Or another type of subsidies - the state pays for 30 square meters of living space.
Since the state provides part of its funds, it will closely monitor the issuance of such a mortgage. Purchased real estate will be especially carefully checked for compliance with regulations and legal cleanliness.
Such social mortgage for a large family, where there is a share budget money, has its own characteristics. It is impossible, for example, to invest mother's capital, then receive a subsidy, and then another tax deduction for the entire cost of the apartment. The right to receive a tax deduction is either completely absent, or all funds are deducted from the cost state support, and then calculate the percentage of the remainder. It is worth clarifying this issue with the tax office.
Preferential mortgages for large families: Sberbank, VTB 24
As mentioned above, Sberbank was one of the first to offer an affordable housing program. New programs are still being developed, so check all the details at the nearest branch of the bank.
Usually the down payment is 20-30%, Sberbank can up to 10% for a large family. As a rule, mortgages are issued for 30 years. The bank will consider the terms individually. Rarely, but there have been cases when a loan was issued for up to 50 years, of course, if age and income allow.
Mortgages for large families with Sberbank are issued at a reduced interest rate, 11% for secondary housing. If you decide to buy an apartment in a new building, the percentage will be even lower, 6-8%.
If you participate in the federal program and have benefits, the state will return a third of the cost of the apartment. The money will be transferred to a bank account and used to pay off the mortgage. If you have another child, you can drop another 20% of the loan amount.
Mortgage compensation for large families is issued only if there is a real need for housing and there are no other ways to purchase housing. If you have your own apartment that meets the standards, it will be difficult to get subsidies.
A mortgage for a large family at VTB24 also has a number of advantages. The amount that the bank can issue has a rather large limit, up to 8 million rubles, depending on the region and your total income. The interest rate will be only 10.2%, and the first installment - 20%. You can always use maternity capital to repay a loan or down payment, if this amount is not less than required.
How to apply for a mortgage for a large family: documents
If you have already firmly decided to conclude an agreement with the bank, you may need the following documents.
- Passports of the borrower and co-borrowers, copies of all pages
- Marriage certificate
- Children's birth certificates
- Certified copies of work books
- Income statements for all working family members
- Certificate for mother capital (if any)
- Certificate of a large family indicating the number of children. This document must be obtained in advance. How to do this, you can find out from the administration of your city.
Of course, this list may vary depending on the requirements of a particular bank.
Mortgage for a large family without a down payment
The down payment is often a stumbling block in buying your own home. Given the size of a decent apartment for a large family, we can assume that 20% of its value is a substantial amount. Therefore, often future borrowers are looking for options for obtaining a loan without fees.
It must be said that not a single social mortgage involves. As a benefit, you can reduce its size, but no more. Banks are commercial organizations. Although they often follow government programs, they seek to protect themselves from financial risks and get some profit first, and only then create attractive conditions for you to get clients. The initial contribution is the very guarantee that you have all saved up some of the money, which means that you are solvent and, despite the large number of children, can save a certain amount.
Of course, you can look for banks that issue mortgages without a down payment, but the terms of such a loan will be much more stringent. The interest rate will be much higher. This is done to prevent various risks. If you make calculations, you will understand how much you will overpay with such a mortgage.
Maternity capital can be used as a down payment. This is a convenient and fast way to get a mortgage at any bank. Of course, you will have to wait until the child is 3 years old, but you can profitably invest this money, get housing and even reduce your interest if this amount is more than what the bank requires as a contribution.
Do not take loans or credit cards to invest this amount in the down payment. Paying such amounts monthly for a large family will become unbearable. You risk spoiling yourself credit history, bring the case to court and lose housing, which, as you understand, is a pledge.
As of January 1, 2017, it ceased to operate federal program: preferential mortgage for large families. Since that time, state material support for families with three or more minor children is no longer provided.
BUT Russian banks, respectively, canceled their previous activities on mortgage lending with financial assistance from the state.
What will happen to mortgage social lending
Recall that the government earlier promised to continue subsidizing interest rates until 01.03.2017. But due to the absence of any real actions on the part of the state, the program has already been completed.
In this connection, the following questions are currently relevant:
- what will happen to already concluded mortgage lending agreements in 2017;
- Is it possible for families with many children to hope for some kind of social assistance when purchasing a home on credit?
AT construction organizations they assure that they have determined methods of compensating for the lack of material state support. They can include both various bilateral events with banks and personalized social marketing campaigns.
Among which, not the last place will be occupied by discounts.
The completion of work on state program confirmed in such large construction companies, as: FGC "Leader" and Urban Group.
Some other developers also stopped participating in such promotions. They explain this by the fact that the program has not been extended, and since January 01, 2017, banks have not offered mortgages with state support.
What do banks say about this?
How to get social assistance from the state to a mortgage borrower
So, preferential mortgage under the same conditions for large families in 2019, it is no longer possible to issue.
But at the same time, there is material social support from the state for mortgage borrowers. This includes parents with many children (adoptive parents, guardians) who are borrowers on a mortgage loan.
So, it remains to find out how such financial assistance is provided by the state.
For this you need:
- Conclude a written agreement on the restructuring of mortgage debt home loan with the creditor bank until May 31, 2017. Such an agreement:
- is issued directly at the bank at the request of the debtor, approved by the administration of the creditor;
- represents an additional agreement to the already existing credit relations;
- it stipulates new conditions for the repayment of the remaining debt. In particular, the amount of the monthly payment and the total maturity of the debt may be revised;
- the smaller the one-time loan payment in favor of the bank, the longer the repayment period of borrowed funds.
- Apply to the regional representative office of AHML for reimbursement of part of the residual debt on a mortgage loan.
- Get approval of the application and wait for the appropriate implementation of state support measures.
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Last changes
In 2018, another program of preferential mortgage lending was approved with a rate of 6%. Above this indicator, the state subsidizes the bank's real interest rate on loans. Families who already have a mortgage loan for the purchase of living quarters in the primary market or who are just going to issue it. The right to a benefit arises if, in the period from 01/01/2018 to 12/31/2022, the 2nd, 3rd or subsequent child was born in the family.
At the same time, it was clarified that parents who had a child on the last day of the program, that is, on December 31, 2022, can count on the state subsidy. They will be able to apply for a mortgage until 03/31/2023. General Grace period, at birth in the family in the specified time interval more than one child, cannot exceed 8 years.
Borrowers were given the opportunity to reduce their current interest rate on the basis of a loan agreement, as well as an additional agreement on refinancing. The latter must be concluded no earlier than August 1, 2018.
Loans actually issued before the registration of the DDU, but later than January 1, 2018, can also be taken into account. The total amount of loans issued under such conditions is 600 billion rubles.
The upper bar for an individual loan is 12 million rubles. - for St. Petersburg, Leningrad Region, Moscow and Moscow Region; and 6 million rubles. - for other subjects of the Russian Federation.
At the end of 2018, new mortgage benefits for families with children were approved:
- an increase in the term of the preferential interest rate, or the establishment of a preferential interest rate for the entire term of the loan;
- subsidizing key rate Bank of Russia, increased by 4%.
- lump-sum compensation for the loan in terms of losses in the amount of the reduction by the lender of the amount financial obligations borrower under loan agreement, in the amount of 10% of credit debt, but not more than 450.000 r. at the birth of the 3rd and subsequent children.
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According to current legislation, in the Russian Federation, a family with more than 2 children, each of whom is less than 16 years old, is recognized as a large family, however, in some subjects the number of children may be more. It is especially worth noting that we are talking not only about relatives, but also about adopted children. A child ceases to be counted as part of the family when he reaches the age of 23, if after the age of 18 he was in training or in the ranks of the armed forces.
Decrees of the governments of the subjects of the federation (“On the approval of the procedure for providing social support measures to large families ...”) establish benefits, which, as a rule, include those related to the registration of preferential mortgages.
How to take part in the social program
A large family is not just a fact, but a social status. It must be properly issued and certified, since without registration it is not automatically assigned to the family.
Status holders can freely access all social benefits provided for by the legislation of this subject of the federation. For this, documents are collected and submitted to territorial bodies guardianship, social security or MFC, namely:
- Birth certificates for all children.
- Passports of parents (legal representatives).
- Information about the composition of the family.
- Single mothers file a divorce certificate.
As soon as all documents (copies) along with the application are submitted, verified (no longer than 1 month), a case will be opened. After its consideration, as a rule, it is required to submit additional documents about which the family is notified. And only when everything necessary information about the family will be collected, it is assigned the social status of having many children, about which an appropriate certificate is issued. In a number of subjects, the certificate has a limited validity period (1 year), in others it is indefinite.
Features of mortgages for large families in 2017
There is still no special law on mortgages for large families. There is currently only a federal program “Providing Russian citizens with affordable housing and utilities» , which was adopted back in 2013, then extended until 2016, now we are talking about its extension or replacement with a new wording.
The program is designed for a number of preferential categories of citizens, including families with many children under the subprogram "Housing for the Russian family". According to the program, parents of 3 or more children are entitled to receive compensation from the state for a preferential mortgage for large families, which avoids disagreements due to various regional formulations of this social status.
Sberbank: mortgages for large families in 2017
Sberbank is today the leader in terms of the volume of mortgage loans issued to the population in the country. Also, the bank with state participation conducts various programs aimed at implementing social programs on favorable terms. Therefore, almost every second large family goes to Sberbank to apply for a mortgage loan.
Today, a mortgage for large families in Sberbank is not a rigid set of conditions, but an opportunity to conclude an agreement on individual conditions. Social mortgage 2017 is focused on the borrower, his financial opportunities, available down payment, number of co-borrowers and other factors.
The key advantages of obtaining a social mortgage for a large family in Sberbank:
- Low interest rate - from 12% per annum.
- Possibility to get a loan for up to 30 years.
- The amount of the down payment is from 20% of the cost of the purchased housing.
- You can not confirm the amount of monthly income and employment.
You can fill out and submit an application directly on the bank's website by filling out a questionnaire. The application is considered within a week, after which the result is reported to the applicant via the specified communication channel. In case of a positive decision, the borrower is invited for an interview to agree on the terms of the loan.
Since the incomes of young families, as a rule, are not high, given the number of children, banks are accommodating and allow co-borrowers to be attracted. Sberbank is no exception in this regard. When applying for a mortgage loan, a family has the right to attract up to 6 co-borrowers. At the same time, in order to increase the size of the loan, you can take into account the income of each of the co-borrowers.
This is not the only difference between a social mortgage and a regular one.
If the family appears new baby, then the bank may, upon application, grant a deferral of payment of the main loan ( credit holidays). Also, in case of any difficulties arising in the payment of current payments, the borrower can also contact the bank for settlement.