Car loan to large families. How to get a loan to a large family to buy a home
In recent years, the state has been paying special attention to the creation of programs designed to increase the birth rate. The economically difficult and politically unstable 90s negatively affected the desire of Russians to have many children. Less and less common are families with two or three children. Now the state is trying to change the situation, providing families with children with maximum support. Moreover, special attention is paid to the protection of large families, as the most unprotected.
One of the most significant problems for large families is the acquisition of new housing. With the advent of the third, an old apartment usually becomes too crowded, but few people can spend most of their family’s income on housing. That is why in 2014 a program was developed that allows receiving soft loans for these needs.
Who gets a soft loan
Large families are considered families in which there are three minor children. When the oldest child reaches the age of eighteen, the family ceases to be considered large. It is precisely to support such families that the program “Loans to large families-2014” is aimed. It allows you to purchase new housing, getting a soft loan, or to make repairs in the old house. Indeed, often the cost of a good repair is not too different from buying a new inexpensive apartment. Since this loan is still a mortgage, the guarantee itself is housing.
One of the largest and most famous banks participating in the “Credit for Large Families 2014” program is Sberbank. By contacting any branch of this bank, large families can learn about the details of obtaining a loan and get answers to all questions that have arisen. Since Sberbank has branches in every city in Russia, each large family can receive professional advice on the issue of obtaining a soft loan.
How to get a soft loan?
To obtain a loan usually require the presentation of such a package of documents:
- photocopies of passports of both parents and, in case of change of surname by one of them - the corresponding document;
- photocopies of child birth certificates so that you can confirm the status of a large family;
- copies of certificates;
- documents confirming the solvency of the spouses: work books and certificates of employment, which indicate the amount of wages.
Since the mother usually does not work in large families, the bank often does not even require a certificate of salary for each spouse, but documents reflecting the total income of the family. Parents of spouses can act as co-founders, thanks to this, the amount that a large family can count on increases.
What is the advantage of a soft loan?
Mortgage - a very serious type of loan, for many years limiting the financial possibilities of a middle-income family. The average interest on such loans in Russia ranges from 10% to 15% per annum. Given that a large amount is involved and not for one year, the overpayment on a mortgage is a very impressive amount. For large families, the interest rate can be reduced by more than two times. In addition, it is possible to pay off part of the debt at the expense of the state, especially in cases when another child is born in the family that has issued the loan.
Should a large family take a mortgage
Before you sign an agreement, you need to carefully consider everything. Of course, in this case, a housing loan is provided on very favorable terms. But the risk is great. Still, housing is the key, and the presence of children in the family requires great care in this matter. In addition, often the only source of income is the father’s salary, and if he loses his job, there is a risk of being left without money and without an apartment.
Families with many children have the opportunity to get at Sberbank, even if not interest-free, but a soft loan. You need to know the features of lending, what documents to collect for large families, who has the right to subsidize mortgages. Alas, to date, special programs for lending to such a category of borrowers as large families have not been developed, although many of them would dream of using a banking product called “preferential interest-free credit”. All other offers, including consumer and car loans, are available for them on a common basis.
Concessional lending opportunities at Sberbank are readily available to families raising at least three children. Mortgages are based on the program “Providing Citizens of Russia with Affordable Housing and Utilities”, the implementation of which began 3 years ago. She somewhat compensated for the remaining at the project level proposals for preferential mortgages for large families. To confirm the status of large families, families need to meet certain requirements. Parents must be in a registered marriage and bring up at least 3 children (not necessarily joint) who have not reached the age of 18.
Features of soft loans
In such circumstances, it is difficult for average large families to cope with monthly payments, for many they are simply too heavy. What has already been done to make home buying more affordable?
- Reduced interest rates. For the purchase of apartments in the secondary market, they are set at 10.5%. If we are talking about new buildings, you can get a loan at 6-7% per annum.
- Maternity capital can be used - either as a down payment, or to pay interest, or as payment of the main part.
- The loan is partially compensated by the state.
- The period determined for repayment of the loan is as long as possible, and can reach 30 years.
- Down payment varies from 10-30%.
In addition, it is possible to get a loan at Sberbank for those families that have a fairly low per capita income - preferential terms are provided for them. If the total income of families is lower than the requirements of the lender, it can be calculated taking into account the income of third parties. There should be no more than 3 co-borrowers (a wife or husband receives this status regardless of their age and how much they earn), but this provision itself significantly increases the chances of obtaining approval of the application. The preferential mortgage provides for compliance with several parameters:
- the initial payment must be at least 20% of the requested amount;
- the maximum allowable loan duration is a maximum of 30 years;
- families can pay the down payment with maternity capital;
- if another child is born, the family receives the right to a one-year and a half-year deferment of payments (however, “holidays” apply only to interest);
- the lending rate (now it is an average of 11.4%) can be reduced - such cases are considered individually, based on the conditions of each family;
- borrower's property must be valued and insured.
What documents to collect
First of all, families need to confirm their status. Further - that they need to improve their living conditions. Such a document is issued by the local government on the basis of certain parameters. It takes into account how many square meters each family member has, whether there are amenities in the apartment, or what condition it is in. A large family must be registered in the very subject of the Russian Federation where a loan is requested. When heading to a bank branch, you need to have the following documents on hand:
- copies of adult passports;
- birth certificates of children (mandatory for all) and marriage;
- certificate of family composition;
- if the spouse is less than 27 years old, his military ID;
- certificates confirming the status of parents with many children;
- certificates confirming income (monthly compensation payments are also taken into account), with copies of work books;
- in case of using maternity capital - the original certificate along with its photocopy and extract from the FIU.
It is good to provide documentary information about the property for the acquisition of which it is planned to use a loan, and to draw up a preliminary contract of sale. Be sure to confirm that the amount for the first payment is in reality. They may be considered:
- information that the required amount is in the account of the borrower;
- a document confirming that part of the funds was paid to the seller;
- information on the availability of maternity capital.
Families with many children can apply for a loan both for a new building and for secondary housing; in addition, they can spend money to purchase a plot, a separate house or to start independent construction. Such a program is distinguished by the fact that a loan can be provided to repair an existing living space: sometimes it’s just more rational to use your own square meters.
In the future, in the event of financial difficulties for families receiving a loan, it is permissible to write a statement on its restructuring. Based on the submitted documents, the loan conditions can be relaxed. For example, there will be a decrease in the interest rate, the loan term will increase, an additional delay in payment will be provided.
Mortgage subsidies for parents with many children
This type of lending assumes that the state will assume the obligation to repay part of the cost of purchased housing. Since the number of applicants exceeds the amount of funds planned for these purposes, assistance is targeted. So far, participants in the Federal Program, large families who have become waiting lists until 2005, have been able to use it. Benefits were provided in various forms:
- ● compensation for part of the market value of the apartment (it comes in equal monthly installments);
- provision of preferential terms for a mortgage (interest rate reduction);
- purchase of housing from the developer without extra charge;
- 20 percent discount on the cost of a loan at birth.
Since a partial interest-free loan is actually obtained, on the part of government agencies, increased attention to the money issued is natural and understandable. Even before making a purchase, real estate is carefully checked for compliance with legal standards. A transaction with state support is executed only when the owner of the acquired apartment is a legal entity.
Social mortgages with a share of budget money have their own characteristics. It will not be possible to contribute maternity capital, receive a subsidy, and then draw up a tax deduction for the full cost of the purchased housing.
You will also be interested
Making large purchases, such as housing, cars, furniture or household appliances, on credit is becoming increasingly popular. And sometimes money is urgently needed to pay for education, treatment, rest, etc.
In these cases, it is also possible to use borrowed funds. However, for large families, repaying a loan with interest is not easy.
By supporting such families, the state, with the assistance of banks, is implementing programs that allow obtaining loans for various purposes on favorable terms.
Consider where and how you can get a soft loan for large families.
Which families can be considered large
In order to use government support measures, a family must meet certain criteria. As a rule, they relate to the number of children and the age of the spouses.
Large families are those families in which at the time of applying for help in obtaining a loan there are three or more children whose age is less than 18 years.
Adult children are counted in the following cases:
- if they are currently serving in the army by urgent appeal;
- study on a budgetary basis in the full-time department of an educational institution of secondary or higher professional level.
In the latter case, families have the right to assistance until children reach 23 years of age.
If the student is expelled or transferred to the correspondence department, the opportunity to use the benefits is lost.
Most of the loan programs for families are aimed at improving their living conditions.
The difference between mortgages in their duration, so banks set limits on the age of borrowers, usually 35 years. In other words, such loans are intended primarily for young families.
Concessional bank loan products for large families in 2019
Most of the soft loans offered by banks to large families in 2019 relate to mortgages. This is quite logical, given the cost of housing and the relatively low earnings of young families with children.
But there are other loans, either targeted or consumer, with which you can count on certain benefits.
They can be expressed in the following:
- reduced interest rate, sometimes doubled against the base;
- minimum down payment or lack thereof;
- credit holidays at birth;
- the possibility of repaying interest on the loan at the expense of maternity capital (for example, to pay for education or mortgages);
- debt restructuring if necessary.
Moreover, loans are issued to large families on a common basis.
The Bank carefully checks not only whether the borrower meets the criteria for participation in soft loan programs, but also its ability to repay the loan on time. In case of doubt, they will most likely not give a loan.
Banks proceed from the fact that monthly payments on loan repayment should not exceed 30-50% of the total family income. It includes not only the salaries of parents, but also various benefits.
Therefore, even if the level of official earnings is relatively low, large families may well count on loan approval.
In order to increase the chances of a positive answer, one of the parents with many children whose official income is more should file an application. If this does not seem enough, then you can bring in a spouse or parents as a co-borrower. This allows you to assess the income level of the whole family as a whole. Or the older generation of the family may be involved as guarantors.
Sberbank loans for young and large families
In 2019, Sberbank does not implement any targeted state programs to support large families. Moreover, from this year almost all mortgage programs with state co-financing have been curtailed.
But the fact of having many children can be taken into account when issuing a loan involving benefits on other grounds.
So, Sberbank offers a reduced interest rate for consumer loans to those borrowers who receive wages on the card of this bank.
A “for your own” loan implies not only a lower percentage, but also substantial amounts that can be issued. It is possible to reduce the interest on a loan by another 1-2%, if you insure your life for the entire period of repayment of the debt.
You can confirm your reliability as a borrower by submitting proof of ownership of your home or a new car. A pledge for this property is not formalized, but if a debt is not paid, a penalty may be levied on it.
How to get a soft loan
Banks, first of all, are interested in repaying the issued loan and paying interest for its use.
Therefore, a number of requirements are established for borrowers common to all credit organizations:
- russian citizenship;
- working age, as a rule, from 21 to 60 (55 in women) years;
- permanent employment for more than a year, and at least 3 months at the current place;
- availability of official earnings sufficient to pay monthly installments.
To confirm these facts, you will need to attach a copy of a valid Russian passport to your loan application, as well as a certificate of employment, best if it will be 2 personal income tax. The original passport is presented to the bank employee accepting the application.
The same set of requirements and supporting documents applies to the second spouse, if he acts as a co-borrower.
The fact of large families for obtaining a loan on preferential grounds is confirmed by:
- birth certificates of children (their copies);
- passports of children (their copies);
- a certificate of the composition of the family received in the passport office of the housing office.
If the head of a large family works as an individual entrepreneur, he will need to provide a certificate of registration as an individual entrepreneur and declaration 3 of personal income tax.
Large families, as well as other borrowers, may be refused a loan if the bank considers their income insufficient to repay the loan on time.
However, this does not mean that a soft loan for large families is impossible in principle. After some time, you can re-send the application, reducing the requested amount or indicating additional sources of income.
In this case, the chance of a positive response is quite high.
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March 6, 2017, 11:35 Mar 3, 2019 13:49
How to get a loan to large families and which banks today provide the best conditions? Despite the large number of programs aimed at helping this particular category, banks do not have special offers for such consumers. But this does not say that MSs cannot count on any preferences.
Mostly, assistance concerns improvement of housing conditions or the purchase of an apartment on the basis of concessional mortgage lending. In this direction, special state programs exist, in which, for example, the Security Council of Russia takes part.
Social mortgage: system weaknesses
How to get a loan for a large family to buy a home? At the state level, a program was developed whose main purpose is to improve housing conditions for this category of citizens. Numerous banks are participating in this program, but still it cannot be called perfect today. The thing is that the established down payment is very large, it is about 30%, which must be collected independently and paid immediately. Of course, when buying a small apartment, this question cannot be called overwhelming, but for families with the number of children from 3 or more, this amount is too large, collecting it yourself becomes almost unrealistic.
Understanding the situation of the poor, in 2018 it is planned to develop and adopt a new program that will provide more elevating conditions, but at the moment it is not. Therefore, the question of how to get interest-free loans to large families, especially for the purchase of housing, is currently being decided at the regional level or when choosing the right banking product.
Preferential mortgage options: which banks provide and general conditions
The vast majority of modern banking institutions do not have special programs for lending to MS, but they offer special conditions for such categories of clients as young families, participants in salary programs, military personnel, and budget workers. Therefore, if one of the parents belongs to such categories, the likelihood of obtaining loans on favorable terms increases.
Recently, social preferential mortgages with state support, focused on the acquisition of housing on special conditions, are increasingly being offered. The most popular are the following offers.
Mortgage with state support from the Agency AHML:
- down payment from 20%;
- rates: from 12.25% for secondary housing and from 12% for primary (for large families);
- long loan terms - up to 30 years;
- monthly payments no more than 50% of the total income of the whole family.
Loan for young families at Sberbank:
- affordable down payment - from 20%;
- rate from 8.6%;
- the possibility of attracting co-borrowers;
- long loan terms - up to 30 years.
How to take a car on credit to a large family, get refinancing of existing obligations, or get a consumer loan without collateral? Most of these offers can be found at Sberbank, the maximum amounts are very different, as are the payment conditions, for example, for residents of Moscow the maximum amount of borrowed funds is greater than for the regions.
Almost any bank today offers mortgage loans with parent capital, which facilitates the payment of initial mortgage payments. VTB24, Gazprombank or Bank of Moscow offer a soft loan for a large family to build a house. The conditions and interest rates are different, so you need to familiarize yourself with the programs in detail before making a final decision.
How to become a member of the preferential program?
The main requirements that apply to applicants for a loan of any purpose are:
- the presence of citizenship of the Russian Federation;
- stable income;
- permanent registration (relevant for the region where the loan is supposed to be issued);
- 21-65 years for the borrower;
- employment from the 1st year (total length of service) and from six months for the last place of work.
In addition, in order to get a soft loan for large families, you should provide the following documentation package:
- a completed declaration (an example of a questionnaire can be obtained at the selected bank);
- completed registration form for obtaining borrowed funds;
- consent to the Bureau of CI and data processing;
- copy of personal passport;
- copy of St. state insurance;
- registration certificate, copy of military ID or document confirming deferment of service (for male borrowers);
- a copy of the birth certificate of the children, the certificate of the MC;
- certificate of marriage / divorce (copy);
- certificate of maternity capital;
- all documents that can confirm receipt of a stable income, employment, etc.
The MS assistance program is still under development. Most of the options are offered by the regional authorities, which help ease the housing issue, for example, a state mortgage for acquiring a land plot for building a house or for buying an apartment using maternity capital. Some banks may provide special conditions for refinancing or consumer lending.
There is no special product “Credit to large families” at Sberbank. But this category of clients can take advantage of existing loan programs.
In 2018, a loan to large families is issued on general terms. The only benefit is the use of maternal and regional capital.
Sberbank offers several options for mortgage lending.
Type of loan product | Installment amount | Loan terms | Rate,% |
---|---|---|---|
Depend on the selected loan program (purchase of a finished or under construction object) | |||
Buying a home in new buildings | not less than 15% | up to 30 years * | from 7.4% to 10.5% ** |
For the purchase of finished housing | from 8.6% to 10.5% ** | ||
To build a house | not less than 25% | from 10% | |
"Country estate" | 9,5% | ||
Offers to young families | Depends on the selected lending program (finished or under construction) | from 8.6% to 10% |
* for new buildings - up to 12 years, subject to a subsidy from the developer for interest payments;
** The rate of 9% per annum is available to participants in state housing development programs.
Mortgage loans are issued exclusively in Russian rubles, and the minimum amount is only 300,000 rubles. At the same time, the maximum loan size is limited to 85% of the cost of housing purchased on credit products for the purchase of finished residential premises or housing in a new building and 75% for the “Country Real Estate” lending programs and for the construction of a house.
Loan for the purchase of finished housing
Amount of credit
from 300 000 rubles to
85% of the cost of housing
loan terms
from 1 year to 30 years
loan rate
from 8.6%
per annum *
* - subject to online approval of the apartment selected on DomClick.ru
Any mortgage loan implies a pledge of a property being acquired or under construction with a prerequisite for insurance of mortgaged property.
In addition, some products have their own nuances of delivery.
The final interest rate is set by the bank depending on the identity of the applicant, the value of the total family income and other significant circumstances. It should be borne in mind that Sberbank establishes allowances to the minimum interest rate:
- + 0.5% - if the client is not involved in the salary project of the bank,
- + 1% - before the fact of registration of a mortgage and upon refusal of voluntary insurance of borrowers.
Thus, the following privileges are available to large families:
- directing family capital to a down payment on a mortgage loan;
- receiving subsidies (state support);
- lending to young families at a reduced percentage and with the possibility of accounting for parental income.
Requirements for borrowers and documents
To apply for a mortgage, the applicant must meet the requirements of:
- age 21-75 years (to the day of full repayment of obligations);
- citizenship of the Russian Federation;
- employment at the current place from six months and the total experience for the previous 5 years - from 1 year.
It is allowed to attract joint borrowers (no more than three) who will satisfy the same requirements.
To apply, you will need:
Young families in addition to the main package of documents provide a certificate of marriage, birth certificates for all children (born and adopted), documents proving kinship, provided that parents are included in the co-sponsor.
In the case of using family capital funds, it is necessary to provide an additional certificate for maternity capital and a certificate from the FIU on the balance of funds in the special account. Large families additionally confirm their social status.
Car loan for large families
Sberbank does not provide for a separate car loan program. You can take a regular consumer loan to buy a car, and with a high cost of purchased transport, you can get a loan secured by real estate.
An inappropriate loan secured by real estate can be issued on the following conditions:
- currency - Russian rubles;
- the minimum amount is from 500,000 rubles;
- maximum amount –60% of the appraised value of real estate pledged or 10,000,000 rubles (lending is carried out at the lower of the amount);
- loan term - up to 20 years;
- basic lending rate - 12% per annum;
- collateral in the form of a pledge of any property.
Secured loan
Amount of credit
from 500 thousand rubles to
10 million rubles
loan terms
loan rate
from 12%
per annum
* - the loan is secured by real estate and is inappropriate
In this program, there is also the possibility of setting premiums to the interest rate: + 0.5% - if the client does not receive salaries in bank accounts and + 1% - in case of refusal of voluntary life and health insurance of the borrower.
You can use the money received anywhere, including the purchase of any vehicle.
Borrowers can become citizens of the Russian Federation of the age category of 21-75 years old, employed at their current place for six months and having a total experience of 1 year over the last five years. The loan is not issued to individual entrepreneurs, members of the peasant farms, heads of small enterprises and business owners.
To obtain a loan you need:
- statement;
- russian passport;
- proof of employment and income level;
- documents for collateral.
Documents for property left as collateral can be provided within 3 months after the decision on lending.
Governmental support
The state provides for additional benefits on mortgage lending in the form of interest rate subsidies. It consists in the payment of part of the premises (based on regional standards for living space per capita) or compensation for bank interest.
In different regions, the conditions for preferential programs may vary. For advice on how to obtain a subsidy in your area / district / city, you should contact your local administration.
The Housing for Russian Families program can be considered an example of subsidies, according to which it is planned to build affordable housing for young and large families, specialists moving to live and work in villages, and Russian citizens from 25 to 40 years old. Missing amounts of funds for the purchase of housing will be available at Sberbank.