Welcome! The topic of our meeting today — maternity capital and mortgage. Read the post to the end, and you will learn: how to apply for a mortgage with maternity capital, the maternity capital mortgage program in the TOP - 5 banks in the country (how mortgage conditions are implemented), maternity capital and military mortgages (features of obtaining and repaying), how to send maternity capital capital for mortgage. 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 . To receive maternity capital (for a mortgage), you must have two children. It is issued to the mother of two (or more) children. It is paid after the birth of the second child, regardless of whether it is twins, triplets or an adopted child (it also does not affect the number of children born after the second, or whether the parents are divorced).
The Russian one-time assistance program is provided only for Russian citizens. 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 a child occurred before this date, the parents will not be paid family capital. If the 2nd child was born before the start date of the bill, when the third (fourth) child appears, you will still be checkmated. capital.
Often the mother receives the funds, but sometimes complex 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 allocated to the father, but if both parents die, the funds 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 pays off debt);
- Mortgage for the amount of maternity capital;
- Getting an education.
- Mom's pension.
- Social adaptation of disabled children.
If a husband and wife divorce, the family capital is not divided. Even if the spouses decide to divorce, the subsidy remains the property of its owner. It often happens that a divorcee thinks that he can sue or divide the family subsidy funds. But when a divorce occurs, housing (purchased with subsidies) can only be considered for an even division.
When the program started in 2007, you could spend it on housing, on a child’s education, and on forming a funded pension. Later they decided to use family subsidies to pay off the mortgage with maternal capital (pay off contributions). And in 2011, it was allowed to use money for transfer to the personal account of the certificate holder.
Thus, the family could build housing on their own. In 2015, restrictions on the use of money were lifted. capital in order to pay off the down payment on the mortgage. Also, since 2016, a certificate can be provided for payment for technical devices and adaptation of disabled children.
We remind you that you no longer have to wait 3 years for your child to get a mortgage!
How to take (technology)
The most popular way to manage maternal capital is to buy an apartment or house. You may not need it now, but you can borrow the property and rent it out until your child grows up. The emergence of maternity capital accelerated the construction market and became an indirect reason for the rise in prices, especially in the economy segment of studios, which essentially became an analogue of an investment contribution.
There are two options to buy a home with a mortgage and capital:
- buying an apartment with a mortgage. You can pay it off in full or partly using capital funds. (Must be your down payment, as a rule).
- Use maternity capital funds to pay for the mortgage loan. (Then in most cases, your own funds for PV are not needed, but there may be exceptions).
Mortgages against maternal capital are now essentially represented by two legal lending formats:
- Mortgage with mat capital as PV. The technology is as follows. The mortgage is issued for the full cost of housing. As soon as a mortgage loan is received, you must urgently contact the Pension Fund to transfer capital to the bank to pay off the mortgage. You wait two months for the transfer and pay the loan in full. Next comes mat capital and reduces the debt to the bank. As a result, your payment or mortgage term is reduced (depending on the bank).
This option for using maternity capital is one of the ways. Other methods can be found in a separate post.
- Mortgage loan for maternity capital. A bank, microfinance organization, developer or real estate agency can issue a loan in the amount of capital for the purchase of real estate. The rest of the amount either you must have on hand, or you receive it as a mortgage. After receiving the loan, you also go to the Pension Fund and wait for two months for the transfer of funds to repay the loan. As a rule, an additional fee is charged for such a service.
All other ways to cash out maternity capital are illegal. Be careful not to get into trouble with the law. We recommend a free consultation with our lawyer (form below) on ways to use your mother’s capital. This will save you time and money, and also eliminate many problems.
How to get a mortgage using maternity capital - the answer to this question will be given below.
It is necessary to use the program “Mortgage plus maternity capital” ». It is available in almost all large and small banks. In the next part of the post we will talk about the conditions in a number of them.
Depending on the bank, the procedure is as follows:
- We decide on a bank.
- We are preparing a package of documents.
- Let's submit an application.
- The mortgage is reviewed from two to seven working days.
- We get approval.
- We are looking for a real estate option (you can buy an apartment with a mortgage in a new building, a secondary building, buy or build a house, pay for a share in a housing cooperative).
- We provide housing documents to the bank.
- We sign a loan agreement.
- We get a mortgage.
- We register the transaction with justice.
- We pay the seller.
- We urgently run to the Pension Fund and provide Documents for repaying the mortgage to the mother
- We are waiting for a month for consideration of the application and 10 days for the transfer of funds to mat capital
- We contact the bank for a new payment schedule.
You can take out a mortgage with maternity capital:
- New building
- Resale
- Finished house
- Pay for the construction of a house
- Mat capital can be invested in housing cooperative shares.
The minimum mortgage amount 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 kind of banks these are and under what conditions you will find out further.
Requirements for obtaining a mortgage loan
There are no special conditions that are very different from those required by borrowers in other loans. An application for a mortgage is made at any suitable bank, then it is reviewed by bank employees (1-3 days). Applying for a mortgage is not difficult, provided you have the necessary documents and mortgage conditions:
- Stable average salary;
- Work experience of at least one year;
- Have worked at your last job for at least six months;
- You must have certain documents with you - confirming your identity, solvency and employment;
- You need to have a certificate of family capital and a certificate of its balance;
- Down payment (in some banks).
In general, a normal level of earnings, stable work and rights to use government assistance. By fulfilling the basic conditions listed above, you can apply for a mortgage with maternity capital. Is it possible to calculate what kind of apartment you can buy based on the average amount of money provided to pay the loan per month? Of course it is possible to calculate.
Use our mortgage calculator. It allows you to make calculations, including taking into account mat capital. It is used to calculate the monthly payment. You can understand how much money to invest (invest) for a particular agreement, and whether it is profitable.
Military mortgage
Also, when you receive maternity capital, you can pay off your military mortgage. This became possible in 2012, a family member took out a military mortgage, now it can be paid off with maternity capital. It turns out that a military mortgage for a husband can be paid for by a subsidy from the wife.
Military mortgage and maternity capital can work together, but there are a number of nuances:
- According to the terms of the military mortgage, it is assumed that the housing will be owned only by the military personnel, and the PF will require shared ownership, incl. and for children. Not every bank will agree to these troubles.
- It is profitable to use maternity capital funds for a military mortgage. At the same time, you can save money on NIS and then use it when decorating another apartment.
- You can use mat capital + military mortgage as a down payment, but it will be difficult to negotiate such an agreement through Rosvoenipoteka and the bank.
To resolve these issues, you need to contact the bank or consult our lawyer.
Top 5 bank offers
Sberbank
With the help of this bank, housing under construction or ready-made housing is purchased on credit. It is possible to issue a mortgage loan against capital and for the down payment or part thereof. A mortgage loan secured by maternity capital is obtained under the following conditions:
- Amount from 300 thousand rubles.
- Rate from 8.9%
- Life insurance 1% of the amount (in case of refusal + 1% to the rate)
- Duration up to 30 years.
The advantage of this bank is the ability to take into account additional income without confirmation. Sberbank issues the largest mortgage amount, 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%
- Duration 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 mortgage amount.
Uralsib
A mortgage with maternity capital is provided.
- Amount from 300 thousand.
- Rate from 9.9%
- Term 360 months.
- Insurance is very cheap from 0.2%
Uralsib has good rates. The bank does not look very deeply into your credit history, which will allow you to pass through the mortgage if there were small “sins” with earlier payments on other loans. But the bank requires 10% PV to maternity capital if you have a bank form, and not 2 personal income taxes.
Raiffeisenbank
Program “Mortgage + maternity capital”:
- Amount from 600 thousand rubles.
- Gives a mortgage from 9.9% per annum,
- The loan term is 1-25 years.
- Insurance from 0.2%
Raiffeisen has very good rates. They, like VTB 24, do not take into account dependents, but if you have a bank form, then you need to have 10% of your own funds. You can take out a mortgage on the cottage.
Rosselkhoz
Provides a mortgage against maternity capital on the following terms:
- Rate from 9.4% per annum,
- The loan can be issued for a period of up to 25 years
- The bank can borrow from 100 thousand to 20 million rubles.
- Insurance from 0.3%
Mortgage against maternity capital - provided under all bank programs. When applying for a real estate loan, you can buy: a house and land, 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 maternity capital
The law allows maternity capital to be used for a mortgage. And parents have different ways to pay for it, even for an existing mortgage.
Most families (during divorce, single mother or father) spend their capital on an apartment with a mortgage; an apartment with a mortgage is the only chance for most families. But it is worth knowing that capital only pays the accrued amount due. And penalties imposed during late payment can only be paid in cash. The mortgage issued in the father's name is covered by a certificate issued in the name of the children's mother.
When a mortgage loan is closed with money from maternity capital, the borrower has the right to demand that the financial institution return part of the insurance premium. The terms of the mortgage loan require insurance, and the amount of annual insurance can be significant. Therefore, you should not miss the chance to return some money.
Often there are no issues with refunds, but if suddenly something goes wrong. These issues can be quickly resolved by contacting lawyers (fill out the special form in the right corner on our website).
And you shouldn’t think that the option of attracting maternity capital will have a bad effect on your 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 Maternity Capital program until 2025, which will help a large number of families receive support.
Also, do not forget about the bill on allocation. We wrote about it earlier.
Bottom line
Maternity capital with a mortgage is a very convenient and profitable way to solve the housing problem and even earn extra money. Capital invested in housing can generate stable rental income. And if all legal conditions are met during all procedures, then there will be no bad consequences and, as a result, the family can greatly reduce the financial burden and improve their standard of living.
Maternity capital for the purchase of an apartment– it’s really beneficial.
What do you think, is this the last year of mat capital? Subscribe in the comments.
Certificate for maternity capital makes it possible to repay an existing loan or take out a new one, using it as a down payment.
But what to do if the loan is issued to the husband, and maternity capital for the wife?
And is it possible to spend maternity capital on my husband’s mortgage?
What you need to know in such a situation is discussed below.
Consequences of taking out a mortgage on your husband
If the mortgage was issued to one of the spouses, in particular the husband, then you should first determine when it was issued:
- before marriage;
- married;
- in a civil marriage.
Credit for living space that was purchased before marriage, is considered entirely the property of the spouse. He is the borrower of the loan and the sole owner of the property.
The same situation arises if the spouses are not officially married. The spouse cannot in any way claim the property of her common-law husband. But there are also advantages. If she defaults on the loan, she is not a co-borrower and does not have to give anything to the bank.
Important! If the loan was received in an official marriage, then in such a situation it does not matter which spouse is the borrower and which is the co-borrower. All joint property, including debts, is divided in half.
The spouse can safely claim half of all jointly acquired property.
The exception is those cases where the spouses signed a marriage contract, which indicated how the joint property will be divided and who is considered its owner.
For whom should maternity capital be registered?
According to the legislation of the Russian Federation, such a subsidy given to a family in which a second or subsequent child is born. In order to receive a certificate, you must submit a written application to the Pension Fund at your place of registration.
To whom should maternity capital be registered, even if the mortgage is on the husband? The only owner of maternity capital is the woman who gave birth to children. It cannot be issued to another person. There are exceptions.
If the mother died
In this case, it is necessary provide the Pension Fund with all necessary documents, and after consideration of the case, the father or legal guardian of the children can receive the subsidy funds.
She was deprived of parental rights
In this case it is also necessary to collect the entire package of documents, proving this fact. After consideration of the issue, the father or legal guardian can receive the certificate.
Can I pay for a home loan using a certificate?
What if the loan is issued to a spouse, and the maternity capital certificate is issued to the spouse? Let's look at a few of the most common cases.
Important! If the husband acquired a mortgage before marriage, and it was repaid partially or fully with maternal capital, then he is obliged to allocate shares in the apartment to the children, but not to the wife. In this case, the spouse cannot claim the property.
Maternity capital and mortgage contribution.
What to do in a divorce situation?
Sometimes situations happen that families are breaking up. If the spouses have or had a mortgage issued to the husband and repaid partially or fully from maternity capital, then how will it be divided?
There are several options for dividing such real estate.
- If the apartment was purchased during marriage, then it is divided among all family members. Children, after depositing the certificate, also have a share in the apartment. The parent with whom the children remain has the right to their shares until they reach adulthood.
- If the housing was purchased before marriage, but was paid off partially or fully with funds from maternity capital, then after the divorce the children have the right to a share in this apartment.
The wife, if, according to the conclusion of the court, the children remain with her, reserves the right to live in this living space until the children come of age. She has no right to a share in the apartment.
- The wife has the right to receive compensation in the amount of half the amount of money paid to repay the mortgage during the period of official marriage. This money must be returned by the spouse after the official divorce.
The mortgage that was obtained by the spouse, can be repaid with capital funds. The main thing to remember is that in this case, not only the rights of the owners to the apartment change, but also the responsibilities of all family members.
Video on the topic
Mortgage and divorce.
Maternity capital is a program to support families in the Russian Federation raising children. Assistance is provided for the birth of a second and subsequent child. The use of maternity capital money is controlled by the state. They can be spent as follows:
- purchasing new housing;
- getting an education;
- Mom's pension savings.
The use of maternity capital is allowed after the child turns 3 years old, except in cases of repayment of a mortgage to purchase housing. As part of improving the standard of living, the family has the right to repay the principal debt and pay interest on the loan for the purchase of housing.
Initially, it was established that it is possible to use maternity capital money to pay off mortgage debt if the loan is issued to the owner of the certificate. Many families could not use maternity capital for these purposes because the husband was the borrower. Subsequently, the Government of the Russian Federation decided on the possibility of using maternity capital to repay the mortgage issued to the husband. According to the amendments, the Pension Fund does not have the right to demand a document confirming the ownership of housing.
Another important point was introduced - maternity capital was allowed to be used to repay the debt and interest on the second loan. This loan is issued on the best, favorable terms for repaying the mortgage.
To be able to use maternity capital when a mortgage is issued for your husband, you must provide the following package of documents:
- passport of a citizen of the Russian Federation;
- a copy of the co-borrower’s passport, if available;
- loan agreement;
- maternity capital certificate;
- a certificate from the bank indicating the amount of debt on the loan;
- a document confirming state registration of ownership of the acquired property;
- a written obligation to re-register the apartment into joint ownership (re-registration must be done within six months, the procedure is done in the interests of the child);
- a copy of the marriage certificate;
- a copy of the spouse's passport.
After submitting all the necessary documents, the mortgage debt and interest can be paid 2 months from the date of application. If the borrower plans to pay for the purchased housing, then the waiting period will be 15 calendar days from the date of filing the application with the Pension Fund.
Before using maternity capital money to pay off credit debt, you must carefully read the loan agreement. In most cases, through maternity capital, the borrower simply shortens the term of the mortgage, and it is not always possible to reduce the amount of the monthly payment or defer it.
The use of maternal money by the husband is possible only if the marriage is officially registered. A couple living in a civil marriage will not be able to take advantage of this opportunity. Parents deprived of parental rights cannot manage maternity capital money. These funds go to the children in equal parts or they can be disposed of by the children’s official guardians.
Since 2009, the Government of the Russian Federation, in connection with the crisis, has allowed the use of maternity capital funds, but in strictly regulated cases:
- as mentioned earlier - repayment of mortgage debt;
- since 2010 – the opportunity to purchase housing not only through a mortgage, but also to purchase an apartment on the secondary market;
- the opportunity to receive an education for any child in the family - parents have the right to pay for the child’s stay in a preschool child care institution or the student’s education in an educational institution and his accommodation in a dormitory.
The family decides independently, based on its own capabilities, how best to use maternity capital money; the state only controls this process. Funds must be spent solely in the interests of the child.
Submit a free application and receive a favorable offer for the purchase of real estate.
Why us?
- Comfortable: The application is free and submitted online
- Exclusive: selection of offers based on your requests and wishes
- Profitable: We cooperate directly with developers, real estate agencies and other market participants.
- Fast: A specialist will contact you within one business day to confirm your request.
Many married couples who have recently registered their marriage officially at the registry office decide to acquire personal living space. One of the popular ways to purchase real estate is to take out a mortgage. A mortgage is usually issued to one of the spouses, which means that the responsibility to repay the loan falls on only one person. Both credit institutions and citizens who took out a loan from the bank are interested in the speedy payment of debt. This can be done quickly using maternity capital. What procedure is provided for in this case and what documents are required will be discussed in more detail in this article.
Conditions for repaying a mortgage issued to the husband
Citizens who have family ties often decide to take out a mortgage on an apartment. Its repayment is usually handled by the person who took out the loan. There are several ways to repay a mortgage that is registered in the husband’s name:
- pay the debt on your own;
- apply for a loan with lower interest rates from another banking institution. This method will be more effective if the difference in interest rates is at least 2-3 percent;
- apply for a cash deduction - from the principal amount of the loan and interest. In both cases, 13% of the money paid is subject to a refund. The maximum amount of the main deduction is 2 million rubles, from which you can return 260,000 rubles. For interest deductions, the maximum amount is 3 million rubles, from which 390,000 rubles are refundable;
- repayment of the mortgage issued to the husband can be done through the use of maternity capital;
- renting out a mortgaged apartment;
- use of state support in obtaining preferential mortgages. Provided to young families, large families and low-income families, citizens in government positions or military personnel.
If the husband is trying to pay off the debt on his own, then he will need to choose a convenient method of calculating the debt - annuity and differentiated. In the first case, the amount of payments remains unchanged throughout the entire payment period. The second method is characterized by larger payments at the beginning and smaller ones at the end of the mortgage repayment.
The condition for repaying the mortgage with maternal capital is that the purchased apartment is in shared ownership of the family, and these funds can only be used to pay off the debt and interest on it, but it is impossible to pay off fines accrued for late payments.
Procedure
Maternity capital is issued to families raising at least two children as state financial support. Indexation of the amount of funds was carried out annually, but since 2015 it has not been carried out due to the difficult financial situation in the country. Now the amount of maternity capital is 453,026 rubles. These tools can be used in several ways:
- improving the quality of housing conditions (taking out a mortgage);
- payment for educational services for children;
- establishment of funded pension payments to the mother;
- reimbursement of cash costs for the purchase of goods for disabled children.
In the first case, we are talking about using maternity capital to pay - the down payment of a mortgage, the basic amount of debt or interest on a loan.
Repaying a mortgage loan issued to the husband requires compliance with the following algorithm of actions when using maternity capital for these purposes:
- the bank employee who issued the mortgage loan is notified of the upcoming partial coverage of the debt with maternity capital;
- an employee of a credit institution issues a certificate about the remaining amount of debt and interest on it;
- documents are collected for the Pension Fund;
- within a month, the application and documents submitted by the applicant are reviewed by Pension Fund employees and a decision is made;
- after another ten days, the maternity capital money goes to the bank to pay for the mortgage.
It is possible to pay off your husband’s mortgage by using maternity capital if you follow Russian legislation and know the specifics of this procedure.
If the mortgage was taken out before marriage
It happens that before the marriage is officially registered at the registry office, the future husband takes out a mortgage on himself. Repayment of the resulting debt with maternity capital is possible. The main condition that must be met is state registration of marriage. This fact is documented by the banking institution and the Pension Fund.
Another main responsibility of the husband, who has used maternal capital in his own interests, is a written obligation certified by a notary to formalize shared ownership of the children in the future. Fulfillment of this agreement is mandatory after the removal of the encumbrance on the apartment purchased with a mortgage. For failure to comply with this rule, the husband and father may be held criminally and administratively liable.
Interesting to know! Allocation of shares to common children is considered the main responsibility of the husband, after repaying the mortgage. The allocation of a share to the spouse whose maternity capital was used is not considered the spouse’s responsibility and she does not have the right to be considered the owner of the acquired property (apartment).
If maternity capital was received before marriage
A situation is possible when a woman gave birth to a second child from another marriage and then formalized the receipt of maternity capital. A future husband who has taken out a mortgage for himself and married a woman with two or more children has the right to claim maternity capital to pay off the resulting debt.
The husband has the opportunity to use the certificate only under one condition - when officially registering a marriage with a woman who has the right to receive maternity capital. It does not matter whether the mortgage was taken out before the state registration of the marriage or during the marriage.
If the child is under three years old
According to the law, the certificate can be used only after 3 years, after the birth or adoption of a second child. However, many family units in society are in dire need of financial assistance before the expiration of the three-year period. In this regard, the Government of the Russian Federation decided to make adjustments to the current legislation to allow young families to use maternity capital immediately, without waiting for three years.
This decree only applies to:
- making a down payment on a mortgage loan;
- repayment of principal or interest thereon;
- making payments to purchase goods for incapacitated children for their better integration into society.
It is legally permitted to repay the mortgage issued to the husband before the expiration of the three-year period after the birth of the baby. Procedure for using maternity capital by a husband:
- collection of documents;
- contacting the Pension Fund branch with an application for early use of maternity capital;
- contacting the credit institution where the mortgage loan was issued with the received certificate.
The husband and wife may not spend the entire supply of funds at once; they can leave the rest of the money for the future. Indexation carried out in subsequent years will increase the remaining amount of money.
List of documents
A husband who wants to pay off his mortgage using maternity capital should collect an impressive package of documents for the bank and the Pension Fund.
The husband will need to present the following official documents to the bank:
- ID card of a citizen of the Russian Federation;
- received certificate for receiving maternity capital;
- a statement of desire to repay early part or all of the mortgage debt from a credit institution.
Based on the documents submitted, the bank employee will issue the husband with a certificate indicating the remaining amount of the existing debt. It is also possible to obtain a corresponding certificate of ownership of the purchased apartment. Next comes an application to the Pension Fund for a maternity capital certificate. You can download the application to the bank link.
The Pension Fund will require the following set of title documents:
- passport of the spouse who has the right to receive a certificate for maternity capital;
- husband’s passport and marriage certificate, if the mortgage is issued to the spouse;
- duplicate of the mortgage agreement;
- a certificate from a banking institution about the balance of debt;
- a duplicate of the mortgage agreement;
- an extract from the Unified State Register confirming ownership;
- statement of desire to use maternity capital funds to pay off the mortgage;
- a written commitment from the husband to register the apartment as a common shared property to remove the encumbrance on the living space (must be certified by a notary).
Thanks to the collected set of documents, the husband will be able to arrange early repayment of his mortgage debt with maternity capital.
When can they refuse?
The grounds for refusing a wife and husband to use maternity capital funds may include:
- provision of an incomplete set of documents or incorrect information;
- drawing up an application with errors;
- non-Russian citizenship of the mother or child;
- early used maternity capital;
- lack of parental rights of the mother;
- absence of an official registered marriage between the wife and husband in whose name the mortgage is issued.
Most people quite rightly associate maternity capital with a woman and her children. After all, they are most often the owners of the family certificate. But a reasonable question may arise: “does this mean that a man cannot use maternity capital?” It all depends on the specific situation. In the article we will look at this problem and find out whether a mortgage is issued to the husband for “maternity capital”.
Maternity capital for husband - terms of use
First you need to decide whether the man is an official spouse? Without official registration, it will not be possible to use a woman’s maternity capital. The same applies to already divorced couples. There is only an exception if the mortgage was issued for two people in a marriage, and after its dissolution, the spouses pay the loan together.
By the way, a man has the opportunity to use maternity capital for other people’s children if he is officially married to a woman. But here there is a special condition - the children must receive their share in the apartment. However, the legislation does not oblige to extend this obligation to the spouse herself.
But even after studying Russian laws, a person may often have a question: “if a mortgage is issued for a husband, how to use maternity capital?” We’ll talk about these features further and look at specific offers from banks.
Under what conditions are mortgages issued? capital?
The procedure for obtaining a mortgage when using a family certificate is practically no different from applying for a regular home loan. The only peculiarity will be associated with a longer period for receiving funds from the Pension Fund. You will have to choose housing that meets the parameters of the Pension Fund. It will not be possible to do without contacting the territorial authorities with a package of necessary papers.
But from the bank’s point of view, the requirements for the borrower will concern the following factors:
- income level;
- having a permanent job;
- seniority;
- credit history;
- availability of collateral (in the form of co-borrowers, guarantors or collateral real estate);
- additional sources of income.
The bank is most loyal to special categories of clients. For example, this applies to corporate and payroll clients. For them, the bank's requirements can often be reduced.
If you are planning a mortgage for your husband “maternity capital”, then the bank will also take into account the features of the desired loan - the duration of repayment, the amount of the loan.
Conscientious borrowers can count on a loan at 10–13% per annum. Of course, a number of financial institutions offer less favorable rates, but these products are available to a larger number of citizens.
Banks rarely limit the maximum loan amount. Even if these levels are set, the allocated money will be more than enough for the client to purchase his own real estate. Does this mean that you can get as much as you want? Of course not. Because the bank will assess the client’s level of solvency.
You will have to pay part of the cost of housing yourself. The size of this part in banks, as a rule, varies from 10 to 30%. It is very rare that you can get a mortgage by paying only 5% of the cost of the home yourself. Sometimes the down payment can reach 40 or even 50%. But in this case, the requirements for the client are minimal, and the package of documents consists of only 2 identification papers.
The duration of mortgage repayment is significantly longer than for conventional loans in absolutely any bank. Most often it varies from 10 to 30 years. But if necessary, a person can pay the remaining amount before the due date. At the same time, you will not have to pay fines and commissions, as this is provided for by Russian legislation.
Mortgage terms and interest rates
If a client wants to apply for a mortgage with the participation of maternity capital as a down payment, he can contact one of the following banks:
- Sberbank. Here you can borrow the required amount, but not less than 300,000 rubles, committing to repay it within 30 years. Sberbank offers one of the most favorable interest rates - 10%. In this case, you will have to pay 15-20% for the purchase of housing yourself.
- DeltaCredit Bank. This financial institution does not limit the maximum and minimum loan amount. But the borrowed money will need to be returned within 25 years. The interest rate is not as favorable as at Sberbank - 11.5%. But the down payment is 15%, and in some cases it can even be reduced to 5%.
- Rosselkhozbank. Here you can get up to 20,000,000 rubles for a period of up to 30 years. The down payment can vary from 10 to 20%. Interest rate – from 13.5%.
- VTB 24. I am ready to give the required amount at 11.95%. But this offer is only available to those who purchase secondary housing.
- Bank opening. Allows you to borrow money to buy a home at 8–11%.
- UniCredit Bank. The offer is valid for those who want to buy their own apartment or cottage. The money will be issued at 12%.
The variety of offers allows the client to find the most profitable and convenient for himself.
1. Is it possible for my husband to take out a mortgage for maternity capital with my mother as a co-borrower?
1.1. It is possible, but only through a prenuptial agreement (you and your husband must have one for the apartment you are purchasing).
