Everyone wants to equip their life and do it as soon as possible. The state is trying to help citizens solve this problem through soft loan programs. Today in Russia you can apply for a social mortgage, take a loan from a bank or participate in a social project.
Mortgage Types
Depending on the option of raising funds, the mortgage is divided into two models:
- American This includes the state mortgage lending program .
- European. Loan financing is done by savings banks.
Under a preferential lending program, young families can purchase real estate on credit. However, until its maturity, they cannot acquire any other type of real estate. Even if the borrower issued a loan at the bank, the mortgage lending agency may be the mortgage lending agency (AHML). Although most often the mortgage remains in a financial institution.
Bank mortgage
Financial institutions primarily take into account the age of the borrower. In this case, each sets its own threshold. The advantage of this approach is that parents can act as co-sponsors. If the income of a young couple, confirmed by a 2-personal income tax certificate, is not enough to pay the minimum payment, then the item on borrowers allows you to solve this problem.
Banks issuing a mortgage can provide a deferment if the borrower agrees to extend the loan term on the following conditions:
- if funds are allocated for the construction of a house, then the payment can be carried forward for a maximum of two years;
- if a child was born to a young couple during the term of the contract, the financial institution can provide credit holidays for a maximum of three years.
It is only about repayment of the main debt. If before signing the contract the family already had a minor child, then you can count on the amount of lending within 90% of the initial cost.
A separate category is “state employees”
Government employees are attractive borrowers for banks for a number of reasons:
- Discipline. According to statistics, this category of the population is responsible for the commitments made. This quality increases the chance of a timely refund.
- The possibility of pressure through the employer. There are several ways to influence a client, including through a court. In the worst case, monthly loan payments will be recovered from the client’s salary.
- Stable income. Employees of government agencies receive a small salary, but at a strictly agreed time. Such structures are less likely to liquidate, reorganize or reduce. Therefore, there is a chance that the client will work on his post the entire lending period.
- The development of social programs allows the bank to significantly increase its client base, as there will be enough young families and employees of state institutions in each locality.
Social Mortgage
These are lending programs operating in certain regions of the Russian Federation. With their help, you can:
- to acquire an apartment, a house;
- reduce the purchase price to preferential;
- become the owner of mortgage property.
Participation in a social program is a good opportunity for a young family to reduce the cost of a mortgage.
A bit of history
In 2010, on New Year's Eve, the government approved the Housing program for 5 years in advance. The objectives of its implementation:
- stimulate the construction of energy-efficient economy housing;
- to provide preferential acquisition of property to needy citizens;
- develop mortgage programs;
- bring the cost of a standard apartment to the average annual family income for 4 years;
- increase the share of borrowers up to 30%.
From that moment, state mortgage programs in Russia began to operate.
Features
The federal preferential mortgage “Housing for a young family” is the most popular product on the market. The percentage of compensation for part of the cost depends on the composition of the family. If the loan is issued by the newlyweds with a child, then the state will cover 35% of the cost, if without a child - 30%. If during the repayment of the loan a baby is born in the family, the state will compensate another 5% of expenses. The main advantage of such a program is that the acquired property immediately becomes the property of the borrower, that is, he can register any family member in it.
State mortgage programs have several disadvantages. The contract is usually drawn up for 10 years, which leads to large overpayments for using a loan even at a low rate.
For whom?
Social mortgage provides for a range of government programs. Banks themselves develop credit products in conjunction with the state. Service conditions vary for each region. For the most reliable information, contact your local government. Preferential mortgages are provided not only to young families.
Participants in the program can:
- Families in need of improved housing conditions: live in unsuitable premises, are registered with local authorities or are not provided with the right amount of housing. The last paragraph implies that for each family member less than 18 square meters. m total area.
- Families with a child whose parents do not exceed 35 years of age. If there are several children, then such restrictions are not established. Participants in the program can be not only holders of a certificate for maternity capital.
- The military and war veterans are offered the most favorable program conditions. They are valid if a person has been a participant in the funded housing system (NIS) for at least three years.
- Employees of government bodies, scientific, state institutions, cultural facilities, city-forming enterprises are also served on unique conditions.
Which objects are suitable
The housing program provides for the purchase of an object at any stage of construction or in the secondary market. According to federal programs, you can buy housing in any region, and according to regional programs - only in a certain district. Especially if the borrower uses a subsidy.
The developer does not care who will pay for the purchase. The exception is programs for which housing is purchased at below market prices. Typically, such apartments are sold in economy class houses and are “frozen” by the authorities in agreement with the developers. Such a social burden in the form of quotas of residential meters is received by all developers.
Statistics
The interest rates of commercial banks range from 11-15%. If we talk about government programs, here the rates do not exceed 13%. If we take into account that the inflation rate in the country does not exceed 13%, then registering a mortgage under a preferential program can be a good alternative to investing. Moreover, the state is considering extending state programs. Many financial institutions increase rates by 2-3% on real estate located in the secondary market. For example, you can apply for a mortgage at VTB at 14% provided that you make a 30% down payment for a maximum amount of 2.8 million rubles. The same limits are set at Sberbank, however, the terms of service differ: 20% of the advance payment and the rate at 13.5%.
In 2014, 7.5 thousand social loans worth over 15 billion rubles were sold. Most of them were issued by the military. Another 25% of contracts are for young teachers. For comparison, during the same year 445 thousand mortgages were issued in the amount of about 769.5 billion rubles.
Statistics could be better if potential borrowers knew about the social program. Not all comers meet the minimum requirements. The borrower must pay 20% of the cost of housing, choose an apartment among several options proposed by the state. All of these factors influence demand.
How to get a state mortgage?
A loan can be obtained in three ways:
- The first is to issue a loan on favorable terms at a reduced rate. For programs with AHML, rates range from 10.5 (with an advance of more than 30%) to 11.1%. The difference to the bank is transferred from budget funds. The minimum advance is 10%, the maximum loan term is 30 years. The longer the term, the lower the payment and the greater the overpayment. To participate in the program, it is enough to apply to the bank office.
- The second is the provision of funds for the purchase of housing. They can be used to pay an advance or part of the debt.
- The third is the purchase of public housing on credit. Apartments for such programs are allocated according to quotas, and the contract is executed at the bank.
The borrower can independently choose a credit institution. A state mortgage for a young family can be issued at more than 15 banks.
Documents
To participate in the program should provide:
- statement;
- copies of passports of family members;
- document confirming the status of those in need of better housing conditions;
- certificates of 2-personal income tax of each family member, copies of work books or an extract from the bank confirming the availability of funds to pay the advance.
Depending on the purpose of obtaining a mortgage, region, cost of housing, this list can be supplemented.
If the mortgage has already been registered, then copies of the certificate of ownership, a loan agreement and a certificate from the financial institution about the outstanding balance will be required.
Potential borrowers are offered to independently choose between the federal and regional programs. You can become a member of any of them only once.
Military mortgage
The most stringent conditions are imposed on participants in a military mortgage. But there are more advantages for such a program. Joining the NIS, a soldier receives a subsidy from the Ministry of Defense. These contributions are indexed annually. After three years, these funds can be used to repay part of the loan. A soldier, in fact, receives a free mortgage. You will only have to pay off your debt when you leave the army. You will have to pay 9.4-11.5% for using a loan. The minimum bid applies to the objects of the secondary market, and the maximum - to the objects under construction.
The maximum loan amount is limited to 2.4 million rubles. Those who wish to purchase more expensive housing can pay the rest of the amount on their own or take a consumer loan. According to statistics, the average cost of housing purchased under such a program is 4.2 million rubles. The requirements for all parties to the transaction (borrowers, banks, developers) are established by Rosvoenipoteka.
Young families
The housing problem is particularly acute for young families with children who have not accumulated funds to buy an apartment. For this category of the population, government programs have been developed to help mortgage borrowers.
Young people under the age of 35 can take part in the Affordable Housing project. They must have the status of those in need of improved housing conditions and a steady income, confirmed by certificate 2-PIT.
Banks participating in the Young Family program are developing their own proposals with the names of the projects of the same name. In order not to get confused between public and private programs, you should study the conditions of lending in detail.
Under the project, the state provides an opportunity for everyone to improve their living conditions, offsetting part of the cost of buying an apartment. The government does not give away property for free, but pays ⅓ of its value.
Procedure
State mortgage programs for young people are issued in the form of certificates. This document should be transmitted to the authorized body of the bank within two months from the date of its receipt. Otherwise, the bank will not be able to accept the document. The issuance of a certificate is handled by local governments. Its validity period is 9 months. During this time, you should fully arrange a mortgage.
These funds can be used to purchase property, build a house, make an advance on a mortgage or pay a final installment. Within the framework of regional programs, you can use a certificate to pay off an existing mortgage. In this case, collateral housing by quadrature must meet the minimum requirements.
The decision to recognize the family in need is made by the local administrative center according to the following criteria:
- a family of two lives in an apartment of less than 42 square meters. m;
- in a family of three, each member has less than 18 square meters. m
The area of all residential premises owned is taken into account. If the wife and child are registered in an apartment of 36 square meters. m, and the husband is registered in the parental apartment, and it accounts for more than 18 square meters. m, then take part in any state mortgage program does not work. The reason for refusal can also be the provision of false data, the absence of any documents or the participation of one of the family members earlier in the preferential program.
2017 Terms
Under the social mortgage program, housing can only be purchased in the primary market. The exceptions are the military program.
- The down payment for all categories of citizens, except for young professionals, is 20%.
- The minimum annual rate is 12%.
- A loan is issued only in Russian rubles for a maximum period of 30 years.
- A prerequisite is property insurance.
- The calculation of the area of future housing is carried out according to the following formula: 32 square meters. m - per person; 48 sq. M. m - for two; 18 sq. m - for each subsequent family member.
Conclusion
State mortgage programs are available to young families whose members have not reached the age of 35. With their help, you can significantly reduce the cost of mortgages up to 30-35%. Unfortunately, only 1.7% of the population of the Russian Federation use such programs. This type of mortgage is not a panacea. Not everyone can afford to buy new housing, although many Russians have already received their square meters precisely thanks to this program.