There was a joyful event in the family of Alexander and Elena: a second child was born - a son, and now the parents have twice as much worries. As you know, since January 1, 2007, the state has been actively encouraging such conscientious citizens as our heroes, rewarding them with a substantial sum of money (in 2014 - about 430 thousand rubles). But, as you know, you can receive the treasured capital only when the child is 3 years old. But what if you need money now? Is it possible to get a loan for maternity capital and how legal is it? What does the state allow the allocated amount to be spent on?
To answer all his questions, Alexander signed up for a consultation with a lawyer, and here are the actual answers he received to his questions.
What is maternity capital?
Family capital, which is also called maternal capital, is a set amount of budget support allocated at the birth of a second child and subsequent children to Russian citizens, starting from 01/01/2007. All legal nuances were regulated by the Federal Law of December 29, 2006 N 256 “On additional measures...”. To receive funds, you need a special personalized certificate, which is issued to the parent (in some cases, the guardian). This document is submitted to the territorial body of the Pension Fund with the corresponding application.
What options are there for using family capital?
- (improving living conditions);
- Payment for education for a child;
- Accounting (the most unpopular form).
When can maternity capital be used?
As a general rule, money is available only when the child reaches 3 years of age. But if we are talking about repaying a loan (interest on it) for the purchase or construction of housing, paying the first installment, then the certificate can be used at any time - at the request of the parents.
How legal is it to take out a loan against family capital?
The question of the legal purity of the procedure still remains open. A literal interpretation of the legislation leads to the idea that money can only be used to improve living conditions (and only for a house, but not for improving facilities). Pure “cash out”, even when it comes to urgent needs, is not legal. Accordingly, by using any loopholes offered by the “craftsmen,” the parent risks falling under criminal charges and incurring serious liability. And the most important thing is to lose the money received in this way.
By the way, young families have a legal right to, which is at least 30% of the cost of the purchased apartment.
How is a loan for maternity capital provided?
At the moment, funds are issued only for needs related to improving housing conditions (participation in shared-equity construction of an apartment, purchase of real estate, etc.). Young parents have two ways to use state resources - contact a bank or a financial institution.
What documents are required to receive financing?
To obtain a loan (credit), the following documents are required:
- Certificate for receiving family capital;
- A document confirming the identity of the person to whom the certificate was issued (mother);
- Certificate from the Pension Fund of Russia regarding the capital balance;
- Application to the Pension Fund for the disposal of financial capital.
- A document confirming the identity of the spouse of the certificate holder;
- Marriage certificate;
- Pension Fund certificate;
- Birth certificates of children;
- A complete package of documents for the purchased property.
When applying for a loan, a loan for maternity capital, it can be used to pay the down payment, repay interest and principal, as well as a mortgage loan.
What is the procedure for obtaining a loan for maternity capital?
- Submission of documents and conclusion of an agreement. The entire package of papers is transferred to the credit and financial institution, with which an agreement is signed for the provision of services in the course of further work.
- Receiving funds. Financial resources that must be spent on resolving the issue with the developer (seller of the property) are transferred to the applicants’ bank account, and from there to the final addressee.
- Transfer of documents to the Pension Fund. The real estate purchase and sale agreement and the loan agreement concluded with the financial institution are transferred to the territorial body.
- Return money to the lender. No later than within three months, the funds are transferred to the creditor (the organization acting in his capacity), and the encumbrance is removed from the acquired property.
As a rule, the borrower pays interest for the time the funds are used while the Pension Fund of the Russian Federation is deciding whether to satisfy the application of the certificate owner. This amount is within 5-15% of the total funds raised, which is acceptable for the family. When collaborating with banks, funds are not transferred to the certificate owner, and all payments are made between legal entities.
So, the scheme looks quite complex and confusing, since the security for the loan amount is not entirely clear. After all, a certificate is a personal document, and only the owner can receive money from it, and only for the needs specified in the law. But in fact, the encumbrance is imposed on the object, which serves as collateral. Nevertheless, thousands of people have already tried this option for obtaining a loan, and all of them were satisfied (to one degree or another) with such cooperation.
Important: The following methods for cashing out maternity capital are illegal, and their use may result in criminal penalties. They are given as an example of how funds received from the state for the birth of a second child cannot be used.
Options for fraud when applying for a loan for maternity capital:
- Real purchase during a “fictitious” sale. Some organizations offer the return of part of maternity capital when purchasing real estate at a clearly inflated price (this is especially typical for the regions). As soon as the transaction is completed and the certificate is cashed, young parents are denied a refund or their share is significantly reduced, and they are left alone with the property. Of course, a rare deceived parent will go to the police with a statement, because he has actually become an accomplice in the crime.
- Trusting relatives. Several cases of fraud have been identified in the fictitious purchase of real estate from relatives, if the last names are different. By purchasing an apartment or house at an inflated price in order to cash out money, you can forever quarrel when dividing up finances, and gullible “sellers” can be left without real estate and without money.
- Withdrawal of a certificate. Some gullible citizens simply sell their document or transfer it without payment - under the “guarantee” of reward in the future. Using various cash-out schemes, attackers can then either leave a person without money or offer a very modest payment - in the amount of 50-100 thousand rubles.
Is it possible to get a loan for maternity capital for consumer needs?
Perhaps this question worries everyone who could theoretically fall under the government support program. And, if desired, such offers can be found on the Internet - there are dozens, if not hundreds of them. As you might guess, the money ends up with the certificate holder without reaching the property owner. In fact, a fictitious transaction is concluded to purchase an object when neither party intends to fulfill its obligations.
In this case, the owner of the certificate receives 30-70% of the amount of maternity capital, and not its entire amount. But – we especially emphasize – this option is illegal, and in the practice of Russian law enforcement agencies there have already been cases of mass prosecution of citizens.
An analysis of the legislation demonstrates that it is possible to “cash out” funds allocated as family capital, but this may be regarded as an abuse of one’s right. Therefore, legal processing of a loan is possible only if living conditions are improved, and there are several options here, including. We cannot dissuade you from cooperating with microfinance organizations, but we recommend that you carefully evaluate your prospects when working with them.
The opportunity to invest maternity capital in a mortgage is known, perhaps, to every family that has received a certificate. However, information about whether funds can be used to repay loans is very contradictory.
An analysis of regulations will help you understand the issue. They determine in which case a loan against maternity capital is acceptable, and in which case it will be refused. To understand how you can use funds to cover loans, you should decide what a loan for maternity capital means.
Loan and maternity capital
For citizens, the concepts of loan, credit and mortgage are often synonymous. However, for financial specialists and lawyers there are fundamental differences. These differences are enshrined in the Civil Code of the Russian Federation.
The legal concept of a loan is based on Article 807 of the code. According to it, a loan is a written or oral agreement in which one party transfers money or material assets to the other, and the second, within the terms established by the agreement, undertakes to return the property or money in the same condition and amount.
In this case, the transfer of funds can be interest-free if the amount is not higher than 50 minimum wages, or can be provided on the terms of their payment, if this is provided for in the agreement.
Download for viewing and printing: Attention! If the amount is more than 10 minimum wages, the contract must be concluded in writing. In relation to legal entities, the amount does not matter - they are required to formalize any loans in writing. An annex to the agreement may be a receipt for the acceptance and transfer of funds or property.
However, the program imposes a number of restrictions on loans, under which maternity capital funds are not allocated to the lender.
Loan terms
The conditions that legislation imposes on transactions that allow obtaining loans against maternity capital in 2019 are related to preventing fraudulent and illegal actions.
Therefore, the only option is a housing loan against maternity capital.
Attention! It is strictly forbidden to cash out the amount of maternity capital through a loan. This means that under no circumstances should the family receive money in cash through loans.
This can be a loan (simple or mortgage) for:
- purchasing new housing in new buildings or on the secondary market from individuals and legal entities;
- building a house independently or through a contract, subject to permitting documentation and a declared area that complies with the standards;
- reconstruction or renovation of a house resulting in an increase in living space.
Family capital funds can be directed to:
- for the down payment on the loan;
- to pay the principal amount of the debt, in the event of concluding a loan agreement before the right to a certificate arises and after;
- to pay interest on the loan (if they are provided for in the loan agreements).
When drawing up a loan agreement, you should remember that the purpose of the funds must be specified in it. So, if the text says that the borrower is given funds for personal needs or consumer expenses, the pension fund will not transfer money to secure such a document.
Attention! You can only submit a targeted loan for maternity capital for payment.
The organization that issued the loan may be:
- a financial credit institution that is accredited in accordance with Federal Law 395-1 (02.12.90) “On Banks and Banking Activities”;
- a credit consumer cooperative that has been operating for more than three years and registered in accordance with Federal Law 190 (07/18/09) “On Credit Cooperation”;
- the organization that issued the loan under an agreement secured by a mortgage.
Another important condition applies to the person acting as the borrower. To use maternity capital, the loan must be issued either to the owner of the certificate or to his spouse. The third is not allowed.
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How to get a loan under MK
To do this, several sequential steps should be taken.
- Monitor proposals from banks, consumer cooperatives, construction companies and other institutions that provide the necessary funds.
- Make sure that the organization meets all conditions set by the state, has work permits and accreditation.
- Apply for a loan by providing the necessary documents.
- If the outcome is positive, the borrowed funds are directed according to the purpose specified in the loan agreement.
- The real estate contract must be registered with Rosreestr.
- The owner of the certificate should contact the pension fund personally, or through a representative whose authority is confirmed by a power of attorney, and submit an application to transfer funds to the lender.
Based on the application and documents submitted in accordance with the legislation, the Pension Fund of the Russian Federation will make a decision on sending funds to the organization - the lender by bank transfer, or on refusing to transfer them.
Important! Previously, the processing time for an application could take up to two months. From 03/03/2017, the decision-making period has been reduced to a month, another 10 working days are given to Pension Fund employees to transfer money.
Thus, the possibility of delays in the consideration of applications and the accrual of maternity capital funds is cut off.
Documents for applying for a loan to purchase a home
Legal requirements require that you make a request to the Pension Fund to transfer funds, confirm your entitlement to the certificate, and confirm that the property satisfies legal requirements.
The Pension Fund provides:
- Certificate.
- Passport of its owner, spouse or representative. The applicant and his spouse must present registration. A representative is a power of attorney.
- If the loan documents are issued in the name of the spouse of the certificate holder, you must provide a marriage certificate.
- A certified copy or original of the real estate purchase and sale agreement, which has been registered;
- A certified copy or original extract from the Unified State Register confirming the family’s right to common shared ownership of real estate. If a mortgage agreement or a housing loan agreement provides for the transfer of property only after full repayment, an extract is not provided.
- If the premises are not common property at the time of filing the application, a notarized undertaking to carry out this procedure as soon as possible is required. The maximum possible period is six months from the moment such a right arises.
- Technical documentation for the property, which will prove that it (or its design) is suitable for family living: an extract from the cadastre, a technical passport, etc.
- Agreement with the lender organization. The document must indicate the purpose of the loan and the amount of the debt.
It is worth noting that when receiving a loan, the package of necessary documents is almost the same. It must be supplemented with:
- SNILS and TIN of the applicant.
- Certificate for children of their birth/adoption.
- Confirmation from the Pension Fund of the Russian Federation about the amount of maternity capital that the borrower has.
- Documents confirming income.
Other documents may also be required, which will be reported by employees of the lender organization.
Cash and maternity capital
Cashing out maternity capital funds from the moment the program starts is an offense. Its implementation is punishable by up to and including criminal liability. However, this only threatens those who spend budget subsidies on outside needs.
After transferring maternity capital funds, cash can be legally withdrawn from your account:
- real estate sellers;
- developers;
- companies engaged in home repair and reconstruction;
- an individual (certificate holders) has the right to receive a portion of MSC funds in an amount not exceeding 50% of the amount of MSC funds for the construction (reconstruction) of an individual housing construction project upon provision of the necessary documents
However, there are existing regional initiatives under which a family has the opportunity to spend part of the subsidy on repaying loans taken for transport, treatment of family members, development of private household plots, and even without reporting on use.
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Video consultation with a lawyer: what documents will be required to apply for a loan for maternity capital.
April 19, 2017, 04:42 March 13, 2019 11:57 
As you know, maternity capital is one of the most popular forms of state support for Russian families raising children. At the same time, a loan cannot be obtained in the form of cash (cash), so maternity capital is usually used as one of the most popular types of lending to young families.
Today, maternity capital can be used for purposes such as:
- improvement of living conditions;
- getting an education;
- solving serious health problems.
Take a loan for maternity capital
This type of loan, or, as it is also called, collateral against a family certificate in cash, is most often taken to change living conditions for the better. Today, there are three options for using a family certificate to purchase housing:
- payment of a down payment on a mortgage loan;
- repayment of interest, as well as debt on purchased housing;
- an increase in the loan amount by the loan amount in a situation where a home is purchased at a higher cost than a young family can legally afford.
So a loan for maternity capital can become a serious support for a family dreaming of purchasing a home or maximizing their living conditions.
Cooperatives issuing loans
Typically, such significant amounts as a loan for maternity capital are issued by banking organizations, but recently people are more often turning to consumer credit cooperatives (CCCs), which are ready to issue a targeted loan against a family certificate. The fact is that these cooperatives are much more loyal to clients, although some of them require the provision of collateral until the money is transferred by the Pension Fund.
Drawing up an agreement with the CPC is quite simple: after choosing a suitable object, an agreement is signed for several months. During this time, the money is transferred to the accounts of the cooperative, so the borrower pays interest, in fact, only for these two to three months.
How to get a loan for building a house?
By law, maternity capital can be used only after 3 years after the birth of a child, but if the living conditions are not very good, this period may rightfully seem like an eternity. Therefore, most often, another option is chosen for building a house, according to which a loan is issued and the construction process begins.
After this, an application is written to the pension fund with a request to transfer funds to pay off the debt to build a house. In this situation, the law provides for the possibility of claiming maternity capital before the child turns three years old.
Loan for maternity capital in Sberbank conditions
This type of loan can also be taken from Sberbank, which sets its own specific conditions. These include the following:
- issued at the request of one of the spouses;
- housing is registered as the property of the borrower or the common shared property of the spouses;
- if the borrower's salary is not paid by Sberbank, then the potential borrower must provide documents that confirm his financial condition.
In addition, Sberbank is one of the few banks, which also includes Rosselkhozbank, where you can take out a loan against maternity capital in cash. So it’s definitely worth trying to do this, be it Chelyabinsk, Orenburg, Voronezh, Novomibirsk, Pervouralsk, Kurgan, Shadrinsk or Kansk. Although it is necessary to understand that this is not some kind of consumer loan for an individual or legal entity.
What do financial institutions around the country offer?
In the country as a whole, the conditions for taking out a loan this year for maternity capital are approximately the same. Therefore, regardless of where to take out what is essentially a mortgage loan: in Krasnoyarsk, Tobolsk, Tula, Nizhny Novgorod, Kemerovo, Saratov or Orel, the conditions are practically no different.
Cashing: Is it possible to get money in cash?
As mentioned above, not every bank issues a cash loan against maternity capital. Therefore, both Sberbank and Rosselkhozbank, when issuing it, require a certificate for maternal capital, as well as a notification issued by the Pension Fund about the balance of funds.
The easiest way to get such a loan is in Russian cities such as Yekaterinburg, Chita, Tyumen, Krasnodar, Stavropol and St. Petersburg. On the other hand, in Novokuznetsk, Abakan, Rostov-on-Don, Simferopol, Belgorod, Kaliningrad or Ulyanovsk, this procedure is more difficult.
If the borrower urgently needs to cash out the required amount, and even without a certificate of income, then there is simply no better option than Ivanovo, Barnaul, Perm and Khabarovsk.
Loan for maternity capital reviews
Today, an increasing number of people are trying to take out loans against capital to build a house or buy an apartment. This is evidenced by numerous reviews of people living in Moscow, Samara, Pskov, Vladimir, Tyumen, Tomsk, Irkutsk or even Kyzyl, who took advantage of this opportunity.
Where can I get cash loans?
As mentioned above, they can be obtained from certain banking and other financial institutions. How such a loan is issued for maternity capital and what specific documents are needed can be found out where it will actually be issued.
Having given birth to a second child, each Russian family, in accordance with the legislation of the country, receives 453,026 rubles. To ensure that money is spent wisely, the state regulates its use. Families receive not cash, the spending of which is impossible to track, but a certificate that can only be used for certain purposes.
Many people are interested in whether it is possible to legally obtain a loan against maternity capital. If you rely on the law, funds can be invested in improving the living conditions of the family, first of all, this means the condition of the living space.
Investments in children's education or parents' pensions are also considered in this context. These are all quite broad concepts that sound abstract and vague to many.
No matter how you decide to use your certificate, without the approval of the pension fund, the money will remain where it should be: in a government account. By law, you have the right to get a loan using them. However, not every goal will be approved by the Pension Fund.
In order for your plans to be realized in practice, you need to prepare a clear justification so that obtaining a loan for maternity capital looks legal.
Today, a loan against maternity capital established by law is one of the types of lending in the Russian Federation. You can receive it from a bank and other financial institutions. The capital amount can be used as a down payment, and it is also possible to repay part of the loan at its expense.
As a result, three parties become participants in the procedure for transferring family capital into a loan:
- Pension Fund.
- The borrower and at the same time the holder of the certificate.
- Financial institution.
The main participant is always the Pension Fund; it retains the right to refuse the applicant to receive a loan. As a rule, refusals have a clear justification.
The most common reasons for refusal are:
- the nature of the loan does not correspond to the purposes provided for by the Legislation;
- there were errors in the documentation;
- the application does not meet the requirements for registration, etc.
The vast majority of refusals are due to misuse of money. According to the law, a targeted loan for maternity capital, when it comes to lending, must be aimed at improving the comfort of the family’s living.
This means that the certificate can be used either for the purchase of a new house or apartment, or for the reconstruction of residential areas, as well as for the construction of what will later become a family home.
Pitfalls of lending under capital capital
If you expect to receive a loan against capital, be prepared for the fact that you will have to convince not only the Pension Fund, but also the bank administration. The fact that you have a certificate is not a sign of your reliability as a borrower for a long period of time (up to 30 years) and for a very impressive amount.
They will give you money only if you can document the family’s solvency. You will need to provide proof of your salary. Only the official bid of the applicant is taken into account, and it must correspond to the amount requested. It is important to prove that your family has a stable income.
Credit history can also play a decisive role. It is advisable that she talks about your reliability and responsibility.
Even if you have decided to take out a loan against maternity capital and have received the bank’s approval, be patient, since the Pension Fund makes decisions within 2 and sometimes 3 months.
Is it possible to cash out maternity capital before the legal date?
If we turn to the Legislation, it establishes a time limit on the use of family capital.
This means that financial institutions that provide loans can only give you the money you are entitled to within a certain period of time. The starting point is the date when your second child turns 3 years old.
However, the rule has a legal exception, which many parents are not aware of.
It is possible to take out a loan urgently, before the due date, if you take out a mortgage. This will be a targeted loan for maternity capital that exactly complies with the legislative framework of the Russian Federation.
In this case, the terms of the loan for maternity capital allow parents to use funds allocated by the state both for the down payment and for closing part of the repayment amount of the already issued loan.
You can either enter into a loan agreement with a bank for maternity capital or repay part of the amount on your existing mortgage immediately after your second child is born.
This kind of loan will be beneficial in all respects, since with its help you can quickly improve your life and make the loan obligation less noticeable for the family budget.
Restrictions on the use of the certificate
When thinking about how to get a loan for maternity capital, keep in mind the fact that even in the case of legal mortgage lending, the loan cannot be used for all needs.
Money can only be taken under the two categories described above: the loan itself and the down payment. It will not be possible to repay debts such as fines and penalties with funds received for the second child.
It is important to know that cash loans of this kind may not be fully utilized. If possible, it is better to leave part of the capital in the account. This is beneficial since it is indexed annually.
Sometimes even a small microloan for maternity capital can solve a family’s housing problems, and the remaining funds will be the key to your future well-being.
Is it possible to take out loans through microfinance organizations?
Cooperation with microfinance organizations in Russia has become the norm for its citizens. In many cases this is beneficial. However, not when it comes to mother's money.
If you see an advertisement: “We issue loans for maternity capital,” posted by one of the microfinance organizations, you can be sure that we are talking about fraud and a violation of Russian legislation.
The President of Russia personally signed the Law, according to which MFOs do not have the right to issue loans for maternity capital. The basis for this decision was numerous abuses of microcredit structures associated with attempts to illegally withdraw targeted funds.
You also cannot take out loans secured by maternity capital. The certificate has value only for the family that owns it. Loan-issuing structures, having received such collateral, will not be able to cash it. For them, it is ordinary paper that has no value.
Features of taking out a loan against capital
After receiving the answer to the question of whether it is possible to take out a loan against mat capital, you need to start looking for answers to another, no less important question: where to get it? In addition to banks, other (non-MFO) financial organizations can act as borrowers.
For example, cooperatives can also become creditors. True, there is a mandatory condition for them: from the moment of its registration, the PDA must exist on the market for at least three full years.
Not only the mother of a child can get a loan for maternity capital. The law also allows the father or person who adopted the child to act as a borrower. At the same time, living space purchased or reconstructed with a loan must be registered in the name of both parents and all their children.
An important nuance is that issuing loans against capital is not intended for ordinary or major repairs, for example, for replacing plumbing.
You can only:
- purchase housing;
- expand existing living space;
- reconstruct a house or apartment;
- restore the house.
It is very important to correctly prepare the documentation and describe all types of proposed actions and work.
Procedure for obtaining a loan
Since the Pension Fund of Russia will have the last word, the first step is to contact this organization and discuss all the nuances.
For example, there is such a thing as regional maternity capital, which means that each individual region may have its own additional types of material support for families. For example, in some areas the question of the possibility of purchasing a car with financial capital is being considered.
Thus, the issue of providing a loan is beneficial for those who already have a mortgage and expect to partially or fully repay it.
In this case, you need to bring to the Pension Fund:
- a statement expressing your intention to receive a loan;
- a loan contract previously drawn up with a financial institution (copy);
- certificate;
- birth certificates of all your children. If adopted children are raised in the family, adoption certificates;
- passport or other identification document of the applicant.
When collecting papers and making copies of them, it is better to make sure that there are several copies, since a package of approximately the same nature will be needed for submission to the bank. To what has already been listed, you will need to add certificates of family income.
If everything is done correctly, there is a chance that within three months you will be able to solve or begin to solve your housing problem. As you can see, it is impossible to take out such a loan for maternity capital in cash, however, nothing prevents you from getting a targeted loan and thereby making the life of your children better.
Maternity loans are offered by several dozen Russian banks. Before choosing one of them, thoroughly study the conditions of each. There may be significant differences between them. Choose the best for yourself.
After starting a family, spouses dream of owning an apartment, but often their income does not allow them to save for real estate. The birth of a baby increases pressure on the family budget. To support young families, the Government of the Russian Federation has developed programs that provide financial assistance. You can significantly reduce the cost of credit funds if you take out a targeted loan from the bank for the purchase of housing using maternity capital.
What is a targeted loan for maternity capital?
According to the law, maternity capital is issued to provide financial assistance to young families who have had a second child. In 2019, its size is 453,026 rubles, indexation is carried out annually. Parents can use the funds to:
- improving living conditions;
- payment for children's education;
- formation of the funded part of the mother's pension.
To control the use of money, a maternity capital certificate is provided. The parents of the second child can receive it after submitting an application to the Pension Fund. Maternity capital can be used for the purposes provided for by law. For this reason, a loan is possible, but subject to the condition of the intended use of maternal capital - loan funds must be used to improve housing conditions.
The difference between a loan and a targeted loan
In practice, the financial meaning of the word loan is different from the word credit. Features of borrowing and its differences from lending are shown in the table:
| Issued by the bank | The lender can be microfinance organizations, credit cooperatives, individuals |
| The subject of lending is money | The subject of borrowing is money and things. |
| The loan agreement is concluded only in writing | Methods of concluding a contract include oral and written form |
| The agreement comes into force upon reaching an agreement (signing) | The contract is considered concluded upon the transfer of money or things |
| The terms of the agreement provide for the repayment period of the debt | The deadline for repayment of the debt can be determined, but if it is absent, the debt must be repaid within 30 days after receiving such a request |
| There is a mandatory payment of interest on loan funds | There may be no fee for using borrowed funds |
At first, according to the law, obtaining a targeted loan for maternity capital was possible in banks and other credit institutions - MFOs and credit cooperatives. Since 2015, only banks have the right to issue credit money using government certificates. It is believed that from now on you can no longer get a loan, but a targeted loan for maternity capital. Such changes are explained by a large number of abuses in non-banking institutions, the direction of funds for cash withdrawal, since strict reporting control is not provided for them.
What can you use a maternity capital loan for?
Disposal of maternity capital is possible only with the consent of the Pension Fund. If you want to use a family certificate for home renovation, you should not count on approval of the application from the Pension Fund in this situation, because you can take out a loan secured by maternity capital only to improve your living conditions, which involves:
- purchasing an apartment on the primary or secondary market;
- expansion, reconstruction of existing living space;
- purchase of finished or construction of housing.
Owners of the state certificate need to take into account the important features of a targeted loan for maternity capital:
- The legislation provides for the possibility of drawing up a bank loan agreement not only for the mother, but also for the father or adoptive parent of the child.
- A loan is issued to parents against maternity capital for the purchase of housing, subject to the registration of the child’s share in residential real estate.
- You can use maternity capital funds when applying for targeted mortgage lending until your child reaches 3 years of age.
Sometimes credit funds for the purchase of housing are issued to parents - certificate holders, even without obtaining a mortgage. This is possible when provision is made for the issuance of funds equal to the amount of the remaining capital. The condition for such lending is the intended use of the money. In this case, there is no need to issue a deposit - the down payment serves as security. The advantage is that you can reduce your expenses even with increased interest rates. With this type of lending, in order to obtain a loan, you do not need to make an expert assessment of the property being purchased.
Down payment on a mortgage loan
According to the law, maternity capital can be used to fully or partially pay the down payment. This is beneficial to the borrower. With the help of family certificate funds, you can increase the size of the down payment and get a mortgage with a lower interest rate. In this case, it is important that the Pension Fund transfers the money to the bank account on time.
Repayment of interest and mortgage principal
You can use maternity capital to reduce loan debt and pay interest accrued monthly. Funds cannot be used to pay off fines and penalties. The borrower can use the family certificate to pay off mortgages that were taken out earlier, even before the birth of the second child. In this case, it is necessary to register the share of all family members in the loaned property.
For building a house
You can get a targeted housing loan for maternity capital not only for the purchase of finished housing, but also for the purpose of purchasing an apartment by participating in shared construction. The Pension Fund may agree to transfer money for the construction of a house or its reconstruction. In this case, paperwork is possible only after the child reaches 3 years of age, and the procedure for approval and transfer of money will take longer. It is necessary to convince the PF that the funds will be used for their intended purpose, and that the constructed house will be comfortable for children to live in.
Is it possible to get money for maternity capital in cash?
The state controls the use of the family certificate. You can track the movement of money only if it is transferred. You should not rely on the possibility of cashing out certificates - such actions are not legal. The decision to transfer funds is made by the Pension Fund and handles the transfer itself. This is how the state tries to protect certificate holders from thoughtless spending of funds intended for their child. Some microfinance organizations in Moscow offer to cash out maternity capital funds, but such services are illegal.
Loan for maternity capital at Sberbank
Apply for a loan with the targeted use of maternal capital at Sberbank. According to the terms of the financial institution’s lending agreement, funds can be used to make the full amount or part of the down payment. Young parents can take out a targeted loan for maternity capital using two programs:
- Purchase of finished housing – for the purchase of real estate on the secondary market;
- Purchase of housing under construction – to purchase housing from the developer.
Requirements for the borrower
Sberbank provides mortgage loans with the targeted use of maternal capital to employed, solvent individuals. It is possible to attract 3 co-borrowers, with the second spouse always acting as a co-borrower. Loan agreements are drawn up:
- citizens of the Russian Federation;
- over 21 years old and under 75 years old;
- if you have more than 6 months of work experience at your last job and at least a year in total.
Credit terms
Sberbank provides a mortgage loan when insuring a home and pledging it to the bank. When purchasing an apartment from a developer and taking out a mortgage for 7 years, lending is carried out with partial compensation by the seller for interest on the loan. The borrower receives a preferential 7.5%. The base interest rate decreases by 0.1% for electronic registration of a transaction and increases by 1% if personal insurance is waived, by 0.5% for clients who do not have an account with Sberbank for payments. The conditions for providing mortgage loans using maternal capital are shown in the table:
| Credit terms | Buying ready-made housing | Buying an apartment from a developer |
| Down payment amount | ||
| Loan amount | From 300,000 rubles to 85% of the estimated cost of housing | From 300,000 rubles to 85% of the contract price of the apartment |
| Loan term (years) | ||
| Base interest rate | ||
| Other terms | Real estate is registered for all family members | Mandatory registration of an apartment for children |
Mortgage loan for maternity capital at Rosselkhozbank
When applying for a mortgage at Rosselkhozbank, you can use materiel to pay off the loan debt. The transfer of funds must be made within 3 months from the date of signing the mortgage agreement. An advantage for borrowers is that certificate holders have the opportunity not to make a down payment if the amount of capital exceeds 10% of the cost of purchased finished housing or 20% of the cost of housing under construction. A mortgage is issued for the purchase of:
- housing on the primary market;
- real estate on the secondary market.
On what terms is the loan issued?
When issuing loans, no commission is charged, but insurance and collateral for the purchased home are required. The interest rate is reduced by 0.25%:
- public sector employees;
- salary clients;
- borrowers with an impeccable credit history;
- young families in which one of the spouses is under 35 years of age.
The conditions for issuing loans from Rosselkhozbank are shown in the table:
| Credit terms | Housing on the primary market | Apartment in a new building |
| Loan amount | ||
| Loan term (years) | ||
| Interest rate | ||
| Down payment amount | ||
| Additional terms | The child’s share in real estate is registered |
Who can get a housing loan
Employed citizens or those running personal subsidiary plots can apply for a mortgage at Rosselkhozbank if they have entries in the household ledger for at least 12 months. You can get a targeted loan:
- citizens of the Russian Federation;
- aged from 21 to 65 years;
- if you have at least 6 months of experience at your current place of work and a total of 1 year over the last 5 years (does not apply to persons running private household plots).
The procedure for obtaining a loan for maternity capital
Banks issue loans to solvent citizens. Persons with a good credit history and a high salary can receive a targeted loan for maternity capital. It is necessary that monthly mortgage payments do not exceed 50% of the borrower's income. You can increase the chance of approval of a targeted loan by attracting co-borrowers and providing certificates of their income.
You can reduce your expenses if you take advantage of the state lending program for young families. It provides financial assistance for the purchase of housing for spouses, each of whom is under 35 years of age. Under such programs, in addition to using maternity capital funds, you can receive funds from the state budget for a down payment, partial debt repayment, or to reduce mortgage interest.
The procedure for obtaining a loan with the targeted use of maternal capital is lengthy and includes the following stages:
- Applying to the Pension Fund with a statement of intentions to use maternal capital. Only the Pension Fund can agree to transfer money for a mortgage.
- Selecting a bank to apply for a loan and submitting an application.
- After receiving approval for a targeted loan, you can begin searching for real estate.
- Providing documents to the bank for the purchased property.
- Coordination with the bank of the terms of the targeted loan agreement.
- Making a down payment, completing a purchase and sale transaction, insuring the property, signing a mortgage agreement and notarizing the mortgage.
What documents are required
To consider the application to the Pension Fund, you must provide the following documents:
- state certificate;
- passport;
- marriage certificate;
- child's birth certificate.
After the application is approved by the Pension Fund and a bank for lending is selected, an application for a mortgage and a package of documents are submitted to the financial institution:
- passport;
- income certificate;
- the second document from the list provided, if there is no proof of income.
After approval of the targeted loan, the borrower provides the bank with the following documents:
- for the property being financed;
- state certificate;
- a certificate from the Pension Fund about the balance of maternity capital.
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