With the advent of the child in the family, each parent faces the eternal question: where to live now. Of course, a large family requires much more space. But where to get the money to buy a new apartment? Today you can get a mortgage and get an installment plan in almost any credit institution. However, even these conditions do not allow many citizens of the Russian Federation to make a one-time initial payment. This does not mean that you need to despair, as today there are special conditions that can allow families to get more housing at the lowest interest rate. Concessional loans for large families will allow you to get money quickly and at the lowest rate.
What benefits exist?
A large family is considered a family in which at least three children under the age of majority are brought up. Such citizens can apply for certain benefits from the state, including bonus housing programs. For example, today there is a mortgage that includes state support. However, there are other programs at the federal and regional levels.
In 2005, the Affordable Housing program was developed. If the family at that moment managed to get on the line, today a third of the cost of an apartment can be reimbursed at the expense of the state. If since 2005 another family has appeared in the family, then the amount of budget funds will be increased by another 18%. Accordingly, there should be no additional commissions on such loans, and the interest rate will not increase annually. It is also worth considering that the preferential program involves the use of maternity capital as an initial contribution or to repay a certain amount of lending.
There are also numerous mortgage programs and loans to large families for construction, which provide installments for up to 30 years. However, under the terms of such lending, the interest rate will be much higher, and the down payment will also have to be paid when processing documents.
In some situations, you can partially repay the loan by receiving a subsidy from the local budget. Sometimes the amount of subsidies can reach up to 100%. However, this is only possible if the family receives the status of "Needing to improve housing." There is also a huge number of banks where you can get a loan to large families for a car at reduced rates.
In addition, many today still stand in line to receive their own homes from the state. In this case, it is worth contacting local authorities in order to get up to 50% of the average cost of an apartment that is rented out.
If one of the spouses is in military service, then it is worth considering the design of a military mortgage.
What documents need to be prepared
In order to obtain a preferential loan for large families for housing, first of all, the spouses must confirm their current status. Then they need to prepare documents that will correspond to the fact that they really need to improve their living conditions. To do this, you need to contact the local authorities and get a paper there, which will indicate certain parameters of the apartment. Accordingly, if for one person there are too few square meters, then such a family may qualify for subsidies. The technical condition of the apartment is also taken into account.
However, it is worth considering that a married couple and children must be registered in the region in which they want to get a loan. Before taking a loan, a large family needs to prepare copies of all documents, original birth certificates of children, as well as marriage registration. In addition, it is necessary to take care of documents that will confirm the available income in the family. If you plan to use maternity capital, you need to bring original documents with you and make them a photocopy.
What conditions must a family meet to get a preferential mortgage?
To get a mortgage for the purchase of an apartment, you must comply with some conditions.
First of all, spouses must take out insurance of their home and their life. Also, depending on the chosen program, an initial payment of 10 to 30% of the total cost of the selected apartment may be required. In some banking institutions when applying for a loan for a large family, a deposit in the form of their own housing is allowed.
It is also worth considering that in 2015 a new version of mortgage lending with a rate of 13% appeared. This program is calculated for 1 year. In order to become a participant, it is necessary to draw up a loan agreement for the purchase of living space in St. Petersburg or Moscow, the cost of which will be in the range of 8 million rubles. If the contracts are executed in other regions, then the cost can be up to 3 million rubles. At the same time, borrowers are required to pay at least 20% of the cost of housing. The term of such loans is up to 362 months.
Mortgage loan to large families: how to get
To date, a federal law that deals with preferential mortgages is still under consideration. Certain programs in this area do not yet exist. However, there are special government subsidies that can be used to obtain benefits for apartments. These conditions may vary greatly depending on the region of residence of the spouses, as well as from the creditor bank.
As a rule, such a mortgage is issued rather quickly (within a few days). In this case, you can bring along proxies, which may be the parents of one of the spouses or both.
However, it should be borne in mind that the banks themselves do not provide any mortgage benefits for large families. All this is done exclusively at the expense of the state. However, there are state banking institutions that have already developed their own programs to help large families: Sberbank and AHML. Let's consider them in more detail.
Loan to large families at Sberbank
According to the terms of this organization, those who want to use maternity capital as one of the loan contributions can count on soft loans. In this case, the interest rate per annum will be minimal - 9.5%. The first payment can be up to 15% of the total price of the selected apartment. Repayment of the loan is offered for 30 years.
The main advantage of this program is that if a new child appears in the family during the period of loan repayments, it is possible to postpone the interest payment period.
Sberbank also allows for co-borrowers, which may be the parents of the spouses. Due to this, it is possible to increase the aggregate of monthly income necessary for approving a loan for a large family.
Program from AHML
This is another government organization that provides assistance in obtaining funds for the purchase of an apartment under the most favorable conditions.
Under this program, the rate will be 12% annually. However, it may be increased depending on the amount of the down payment. Also, the commission will increase if the spouses refuse to take out life insurance and housing. In this case, the interest rate will be at least 20%.
As an initial contribution, you can use the funds received from the state after the birth of the child.
OTP Bank
To get a loan for a large family in this organization, you also need to take out insurance. In this case, the interest rate on the loan will be 13.5%. The loan amount can be from 300 thousand rubles to 15 million.
Also, under the terms of the bank, it is necessary to bring a guarantor.
The loan can be repaid ahead of schedule.
Pitfalls of preferential mortgages
Before you take money from the bank, you need to consider several nuances. Firstly, the maximum loan amount is always calculated on the basis of the data on the solvency of the spouses. The number of children in the family is also taken into account, because the more there are, the more money the parents are forced to spend on them.
It is necessary to pay attention to the loan conditions, which are written in "small print". As a rule, the bank deducts the commission for services, as well as for additional options that are connected automatically after signing the contract.
Some banks provide a specialist who evaluates housing. However, do not rejoice at this. The fact is that sometimes the appraisers deliberately underestimate the real value of the apartment so that the banking organization can issue a smaller amount of cash.
Is it worth taking such a loan
Before signing any documents relating to a loan of funds, it is worth several times to consider everything. First, you need to really assess your solvency. If there is a risk that at work one of the spouses will be reduced, then this is fraught with consequences. In case of untimely payment of monthly payments, a commission will follow. Secondly, you need to study in detail the information about the selected bank. If it opened recently and operates in only one city, then there is a risk that it will go bankrupt.
Finally
A loan for a large family is an absolute help for spouses who dream of a separate or larger housing. Today, the state offers the population a huge number of programs of additional preferential subsidies. Therefore, it is worthwhile to carefully study these conditions and choose the most profitable option. It is also worth a visit to local governments.