Young families can count on state financial assistance from the moment a family is formed. In particular, they can receive maternity capital, participate in housing programs and receive tax deductions if the conditions are met.
How to get a mortgage for a young family
The family, as a cell of society and the potential of tomorrow of the country, is of great value for each state. For the stable development of the family considerable funds are required, the main of which is the acquisition of real estate. Young people who have a marriage have a chance to take advantage of special state programs with somewhat simplified conditions.
Given the high real estate prices, the question of how to get a mortgage for a young family remains relevant. Even if the young earn enough, the need to make an initial deposit baffles many. But not everything is so sad. Next, we will talk about this in detail.
Private banking organizations are also willing to provide their financing services. Increasingly, one can see advertisements of banking products designed for the needs of families. But the state program is distinguished by its accessibility and the availability of goals. For example, the Federal Housing Program 2011-2020 has clear goals - to provide housing to as many families as possible.
A specific way of state assistance in solving housing problems is the issuance of certificates for subsidies. It is carried out in the following order:
- Provide information that the family needs housing.
- Become a member of the program "Young Family" or "Housing 2011-2020".
- Contact AHML.
Each item requires clarification. Information is provided below.
Before answering the question of how to take a mortgage for a young family, you need to find out the legal grounds. One important argument is the rate of housing. The rate of housing for each person is established at the legislative level. The indicators are individual for each region.
For example, in Moscow, the rate of housing per person is 18 square meters. m. Norm for the family - 42 square meters. m. If in the Belgorod region and in Yaroslavl, these norms are equal to 17 square meters. m, then in Voronezh such an indicator are 14 square meters. m. If a family has a housing norm below these parameters, then the relevant authorities do not have the right to refuse to provide it with state assistance to improve living conditions.
Such provisions are regulated by article 50 of the Housing Code of the Russian Federation. If we are talking about tenants, then it is useful for them to study the provisions of Article 49 of the LC RF.
As for government programs, their list is not limited to the options given. Housing issues are also addressed in each area at the local level. Local authorities have the right to implement their own programs. For example, the authorities of the Arkhangelsk region have a program in the framework of which support is provided for the purchase of secondary housing. In Belgorod, authorities prefer primary construction. When the family is faced with the question of how to take a mortgage for a young family, you should study and collect complete information in your territorial district.
Another question for clarification is what is AHML? This is OJSC, the founder of which is the Government of the Russian Federation, the full name is “Agency for Mortgage and Housing Lending”. Family housing is a direct responsibility of this organization. Therefore, the question of whether it is possible to take a mortgage for a young family in a particular case should be directed to them. Only based on documentary evidence.
The Office of the Department of the Housing Policy of the Territorial Appointment is also authorized to deal with these issues. The deadline for considering applications is 10 days.
Who can apply?
Government programs by the term “young family” mean a married couple, where both are under 35 years old. The main requirement is the presence of an officially registered marriage at least 1 year ago. When wondering where to get a mortgage for a young family, a couple may consider offers from private banks. Private credit institutions accept applications from families where one of the spouses is over 35 years old.
There are separate requirements regarding the citizenship of the spouses. Preferably, if both are citizens of the Russian Federation. But if one of them is not a citizen of the Russian Federation, but is married to a citizen, and they have a common child, then the application is accepted for consideration.
It is a mistake to believe that only a married couple is recognized as a family. Single-parent families also have the right to apply, where the only parent is a citizen of the Russian Federation.
Another important criterion is proof of income. This procedure is needed in order to convince the lender of their solvency. According to the requirements for 2017, the total family income should be above 21,600 rubles. If the family has a child, then the income should be at least 32,150 rubles per month.
The amount of subsidies on average is 600,000 rubles. It can be obtained for the purchase of real estate or for the construction of your home. If there is already a registered mortgage, then the loan can be used to repay it. To do this, the family must agree in advance with the bank about such an opportunity. Some banks are accredited for settlements with state bodies and have the right to accept funds from the state budget in favor of repaying credit obligations of citizens.
When deciding on how to take a mortgage for a young family with a child, the couple can decide to build their own private house. In this case, they need a land plot, and state aid is aimed at covering part of the costs. Typically, this figure is 35-40% of the cost. The exact amount of the subsidy depends on the number of family members.
How to implement the subsidy?
When the executive branch considers the application and makes a positive decision, we can say that the question of how to rent an apartment in a mortgage for a young family is partially resolved. Now the spouses are awarded a certificate for a certain amount. With these documents, they should now find a bank where you can get a mortgage. But this is not the whole list of those rights that the subsidy certificate provides. Complete solution:
- The purchase of an apartment or room.
- Home construction.
- Participation in housing cooperatives.
- Repayment of existing mortgages.
- Provide instead of the amount required as a down payment.
The presence of a certificate is an indicator of the state guarantee of a certain part of the risk when acquiring real estate, since for many young people the question “how can I take a mortgage for a young family” is quite acute. The certificate opens the way for them to banking institutions that will directly finance the purchase.
The state does not put forward special requirements for implementing banks to sell mortgages to a young family. But a prerequisite is that the bank has a license for the current year issued by the Central Bank. There is no need to worry about this, since without this document no financial institution has the right to conduct its activities. The market is not short of mortgage offers.
The leader in the financial services industry - Sberbank - is widely known for affordable loan terms. It differs in mortgage matters for young families. So, what are the conditions for a young family to take a mortgage in Sberbank?
General requirements are standard in nature: availability of work and income, liquid real estate and an application. The base rate is 8.6% per annum. But there is an affordable opportunity to make bets even lower. To do this, you must:
- Get paid on the card of Sberbank. The rate is reduced by 0.5%.
- Be a member of the Sberbank Insurance program. For participation, you can insure personal risks or acquired property. Moreover, when registering a mortgage, this procedure is mandatory. In this case, the rate will be lower by 1%.
- Single parent who is not 35 years old. In this case, the applicant is entitled to ask for an additional rate reduction. And perhaps it will be satisfied.
Another leader of the financial market - VTB-24 - will help take a mortgage to a young family without a down payment. To do this, consider the cost of the apartment. One of the standard conditions of the bank is a down payment of 20% or more. But young families can use the certificate instead of this money. Typically, the amount of the subsidy covers 30-40% of the average market value of the apartment.
A family can issue a mortgage for a period of 5 to 30 years. Interest rates vary around 11%. You can request any amount up to 800,000 rubles.
The solution of the housing problem requires a lot of effort and time. There is a need for a stable wage, the level of which is able to cover monthly repayments. In this case, the work should be official. It is not bad if a young family has its own small savings for buying a home. They are usually used as a down payment.
But even if the couple does not have their own funds, thanks to state support, she has the opportunity to take a mortgage for a young family without an initial payment. The opportunity to pay with a certificate was also considered at Alfa Bank. Moreover, the bank is ready to finance both secondary housing and projects in new buildings.
A family can count on financing in the amount of up to 50,000,000 rubles both for primary housing and for a new building. Refund periods vary from 12 to 360 months. The final amount of return will differ from the cost of the apartment by 9.29% per annum.
When the certificate is already in hand, the issue of choosing a bank is solved simply. You need to look at the proposals and compare them with your own income and plans for the future. How to get a mortgage for a young family at Sberbank or at any other bank? Uralsib Bank also provided its solution to this urgent issue.
The bank is ready to finance the purchase of finished or under construction housing for up to 30 years. The amount of the initial deposit must be at least 20%. Interest rates per year start at 11%. The specific indicators depend on the solvency of the applicant, on the loan term and other parameters.
"Bank of Moscow"
The Bank of Moscow is also ready to take part in solving the housing problem of a young family. Moreover, with an individual approach for each applicant. So, what do you need to take a mortgage for a young family in this bank? There are two options: you can issue according to the standard scheme or try to use reduced rates. Information for comparison:
- According to the standard system, the interest rate is 11.40% with 20% of the cost of housing.
- The applicant's family receives funding at a rate of 11.15% and with a down payment of 15%.
- If one of the spouses joins the bank's corporate programs in advance, then the rates can be reduced to 10.65%, and the down payment to 10%.
- Benefits at rates await those who receive wages on a Bank of Moscow card.
Requirements for borrowers are standard. Received funds can be returned within 25 years. There are requirements for the purchased housing: suitable living conditions and communication networks. If you buy a second home, then the year the house was built should not be earlier than 1972.
Collection of documents
When the couple’s family found the answer to the question of how to take a mortgage for a young family, another question arises - what certificates and certificates are mandatory? The list of required documents is as follows:
- Help confirming the level of income. This can be a certificate in the form of 2-personal income tax or in the form of a creditor. But more often both options are required;
- Certificate from local authorities that the family needs housing solutions.
- Copies of passports of spouses.
- Certificate of registration of marriage.
- Documents for children, if any.
- Extract from the house book.
- Copies of documents for the property.
According to reviews of families who received state subsidies, the whole process takes no more than 1 month. This includes the process of reviewing applications in the executive bodies, filing an application with the bank and the process of processing the transaction. The terms of the search for housing and the term for registering property rights are not taken into account.
Most government programs have a limited duration. But the trend of recent years shows that after the expiration of old programs, new ones are introduced, with even more attractive conditions.