Since 2007, a support system has been operating in Russia that is designed for families with 2 or more children. The main goal of maternal family capital is to improve the lives of its owners. Funds may be spent on improving housing conditions, paying for children's education or forming a mother's pension.
The program has been running for 10 years, but so far many people do not fully understand the principles of its use. Now you can get a loan under maternity capital. The reviews indicate that if you know all the intricacies of this procedure, no difficulties will arise. Loans are issued for the construction or reconstruction of residential facilities, as well as for their purchase. Now it is possible to apply for a mortgage at a profitable interest.
The concept
Many make a loan under maternity capital in cash. This is a financial transaction in which the bank provides specific amounts to the family. Maternity capital is used to pay a loan or close a debt.
The transfer of funds from a financial institution to a recipient is controlled by the Pension Fund. He also approves the application. If the fund allowed to transfer funds to pay the loan, then you need to choose the appropriate bank and complete the transaction.
Types of loans
The state program for obtaining maternity capital was adopted with the aim of helping families in which a second child was born. The state provides a list of directions for its receipt. It is important to issue a targeted loan, which involves specifying in the loan agreement the direction of use of funds. Reports must be provided to social security authorities.
A loan can be obtained to improve housing conditions. You can use it on:
- Getting a mortgage.
- Participation in shared ownership.
- The construction of housing on their own.
By law, it is allowed to pay with money from the parent capital of a mortgage, which is executed before the birth of the second child. And it doesn’t matter who the loan was issued to: mother or father. On this issue, the state has not established restrictions.
Legality of the transaction
The Pension Fund monitors whether the rules of the law are complied with, according to which a loan for maternity capital can be issued. The reviews confirm the need to conclude a legal transaction, since violations in this area are strictly punished. Loans are issued after the approval of the application by the Pension Fund. Only then will the transaction be considered legal.
Refusal to pay funds may be due to the following reasons:
- Incorrect application form.
- Errors in documentation or illegal documents.
- Inappropriate use of a loan.
Use a loan must be strictly for its intended purpose. And this is confirmed by official documents.
Refusal cases
Although confirmation from the Pension Fund is required, banks still put forward their conditions. Only with their observance can a loan be obtained under maternity capital. The reviews confirm that you can’t get a loan in the following cases:
- There is no stable income.
- No official salary.
- There are difficulties with paying previous loans.
The Pension Fund reviews the application for 2-3 months. If you build housing yourself, you need to submit documents before the start of the construction season. The procedure for obtaining funds is quite complicated, but customers are provided with long payment periods and low rates. Some banks offer special conditions and preferential programs for large families. On them there is an opportunity to apply for a profitable mortgage.
Conditions
A loan is called receiving money, which must be returned with interest. Loans are provided only by banks, and loans are issued by financial institutions, individuals, and the state. This is the difference between services. Under what conditions is a loan issued under maternity capital? Reviews indicate that you need to spend money on increasing the square meters of housing or a purchased property.
A loan can be issued earlier, and with the birth of a second child, you should pay the debt using maternity capital. If the house will be built independently or reconstructed, then you will receive the necessary funds in the Pension Fund 3 years after the birth of 2 children. A target loan is issued for maternity capital based on the norms of the Civil Code of the Russian Federation. The certificate allows you to pay the principal and interest. The procedure is carried out by bank transfer: The Pension Fund transfers the funds of the organization that issues the loan.
Making a loan before the age of three
According to the law, a housing loan for maternity capital can be issued after the second child is 3 years old. But in this case, there is a way out when you can use the funds after receiving the certificate. If the money will be spent on buying a home, it is better to choose a mortgage.
As already mentioned, about two years ago, a bill was passed under which it was possible to use the money of maternity capital on an already issued mortgage, as well as transfer the first payment after the appearance of the second child. If you deposit these funds, it reduces the terms of settlement with debt. This opportunity makes life easier for families who have not resolved the housing problem.
Maternal capital allows you to close the bulk of the debt and interest. If there is a delay, penalties, fines, they will need to be paid on their own. Of the funds laid down by law, you can pay both a housing loan for maternity capital, and part of it. A certain amount can be left, since it is indexed every year.
Housing construction and repair
Targeted loan under maternity capital for the reconstruction of a house that is already in the property. But it is necessary to arrange these works correctly. When executed, they must be documented. Repair work involves an increase in the living area of the building.
It turns out that the funds cannot be spent on replacing windows, plumbing, flooring, wallpaper. You can take advantage of financing after the execution of 2 children 3 years. But the execution of work may be earlier. It is necessary to coordinate actions with the FIU and document all expenses, and from the 3rd birthday of the child to receive compensation.
Limitations
Before you take a loan under maternity capital, you need to familiarize yourself with the restrictions. When you design it, you need to fulfill several PF requirements:
- Purchased property should be the property of all children and parents in equal shares.
- You can pay off the debt issued before receiving the certificate.
- You can not pay debts from microfinance organizations.
- Although the certificate is provided for the mother, the father has the rights to use it, as well as the person who adopted the children.
Making a loan at Sberbank
A loan is issued under maternity capital in Sberbank. This procedure has the following features:
- The bank must make sure that the customer pays the debt. Therefore, it is necessary to prepare a confirmation of solvency.
- The amount issued by the bank, as well as funds under the certificate with family income are summarized.
- Over the next 6 months, you must submit an application to the FIU on the transfer of funds to pay for the mortgage. You need to do this as quickly as possible, since percent is transferred from this amount.
Such loans are offered at other banks. The conditions in each institution may vary slightly, but in general the procedure is similar. If customers meet all the requirements, then they approve loans.
Required documents
To apply for a loan under maternity capital - at Sberbank or another institution - you need to collect some documents. Their list includes:
- Certificate.
- Passports of spouses.
- Marriage certificate.
- SNILS.
- Loan agreement.
- Inquiries from the bank.
- Application for repayment of a loan.
- Certificate of ownership.
- Confirmation of the transfer of funds by non-cash method.
Having taken an urgent loan under maternity capital, a young family acquires its own comfortable housing. Before applying, you need to familiarize yourself with the terms of the loan so that in the future there will be no difficulties. It is advisable to consider the programs of several banks, and then choose the most suitable.
Before transferring the means of the certificate, you need to decide for which area the money is needed. Indeed, in addition to improving housing conditions, the program is intended for other purposes. Keep in mind that the amount increases annually. This money is a great investment in the future.