Newlyweds rarely can afford to immediately purchase their own housing. Usually in this period of life and lovers are much more than other problems. However, nobody wants to live with parents or in a rented apartment. Additionally, it is worth considering the ever-increasing costs and economic situation in the country. Against this background, many are afraid to take loans with high interest rates. And if replenishment is planned in the family, then own housing becomes a sky-high dream.
However, today there is a way out. There is a program “Young Family”. This type of mortgage is characterized by more favorable conditions, which makes it affordable for most newlyweds. A similar loan is available to citizens of the Russian Federation under the age of 35 years. However, they must meet certain conditions. Let us consider in more detail the features of obtaining a loan for the purchase of housing for a young family.
Who is available for the program
This type of loan implies that certain categories of families can take a loan from the state, provided that all the money goes to purchase their own housing. By and large, the federal program is a one-time subsidy, which should be used exclusively to repay the mortgage.
If we talk about who the “Young Family” mortgage loan is available to, then it is worth paying attention to several important conditions:
- People under the age of 35 can count on subsidies. However, if one of the spouses is a little older and the other, on the contrary, younger (for example, spouse 37 and wife 32), then partners still have the right to receive cash.
- Newlyweds must be registered officially. However, it does not matter how many times before, each of the spouses has been married. If one of their spouses is dead, then it is possible to obtain a mortgage even for a single mother, if her income allows you to pay the necessary contributions. If the lovers only live together (no matter how much time), but are not officially registered, then this program is not available to them.
- Partners must be registered with the administrative authority of their city or town as needing better housing conditions. That is, only if the spouses have no housing, they can issue subsidies.
Basic conditions of the loan "Young Family"
Of course, the state is trying to help the newlyweds improve their housing situation. However, borrowers must take certain steps so that they can count on a federal mortgage repayment assistance program.
First of all, you will have to pay an initial mortgage payment. If the newlyweds do not have children, then it is 20% of the total cost of the purchased housing. In the case when the lovers already have children, then you need to pay at least 15%.
Additional documents and fees
You also need to confirm the income of the borrowers. This takes into account the total income of the spouses. After a monthly payment of the mortgage, the newlyweds should have at least 40% of the money left or more if the family has children.
In addition, housing loans to young families require insurance, which should apply not only to borrowers, but also to the chosen housing. As a rule, the duration of the contract is 12 months. After this, insurance must be renewed. If the newlyweds do not fulfill this condition, then the interest rate on the loan will be increased.
Features of mortgage lending
It should be borne in mind that loans for young families differ from standard programs only in the amount of interest rates. This means that until the debt is repaid, the housing acquired by the mortgage will be the property of the bank. Accordingly, it is impossible to exchange or sell housing.
It is also worth considering that in most financial organizations there is the possibility of early repayment of debt. At the same time, no fines are imposed on the newlyweds. No additional restrictions are implied.
When applying for a loan to a young family to buy a home, not all spouses can afford to make an initial payment. In this case, it is allowed to use maternity capital. This amount is usually enough not only for the down payment, but also to repay part of the loan loan. However, at the same time, a document must be notarized that states that the children of the spouses own a share of the living space.
When choosing a loan for young families, many are faced with the fact that they do not know which bank is worth contacting. Today, not all banks provide such services. The most reliable is Sberbank. It is worth learning more about the conditions of this financial institution.
Sberbank Requirements
When contacting this organization, rather favorable credit conditions are assumed. The interest rate on the mortgage in this case will be 12.5%. In this case, the loan is issued for a period of 30 years. However, customers must be sure to take out insurance for the purchased property. The initial payment will be 20%, but the bank allows the use of maternity capital (if the family has more than two children).
Lending Pros
If we talk about the benefits of the “Young Family” loan at Sberbank, then in this case, borrowers may not confirm their income. However, this is only possible with guarantors. Their role may be close friends or relatives of young spouses.
It is also worth noting that in 95% of cases, potential borrowers receive approval. A refusal is possible if an incomplete package of documents has been collected or the basic conditions of lending have not been met.
Good to know
If necessary, having issued a soft loan for a young family, spouses can ask for a deferment in payments. As a rule, the bank provides this opportunity for a period of five years. To do this, you must contact the bank branch and write in writing a statement stating the reasons why the newlyweds are temporarily unable to fulfill their debt obligations.
For example, the reason for the delay may be the pregnancy of the spouse, loss of work of one of the family members or a serious illness.
Also, borrowers can contact the tax authority and ask for a tax deduction. In this case, there is a chance to get up to 250 thousand rubles.
Reviews
If we talk about the opinions of the borrowers themselves, then mostly everyone notes that such loans for young families are indeed a serious help for newlyweds. On the one hand, it seems to many that a loan for 25-30 years is a rather dangerous undertaking. However, in the event of loss of work, there is the opportunity to obtain a delay. Thanks to this, borrowers feel more financially secure.
Some note that it was not possible to get a loan right away. As a rule, this happens due to an incorrectly assembled package of documents. However, upon repeated appeal, almost everyone managed to get a loan. Therefore, it is important to know all the subtleties of such a procedure.
Features of a loan at Sberbank
If we are talking about a loan for young families, then in this case the same package of documents is provided as for standard mortgage lending. By and large, the difference is only in the amount of overpayment and down payment.
In order to receive funds for the construction or purchase of housing, the newlyweds must:
- Fill out a loan application and submit it to a bank branch.
- Wait a few days until the financial institution decides to provide funds.
- Provide the bank with all documents for the property being acquired or under construction.
- Sign a loan agreement. At the same time, an account is opened for the bank's client to which the funds will be transferred.
- Register ownership. To do this, you need to contact the Rosreestr or make electronic registration through a bank branch.
- Insure the property, sign a mortgage agreement or mortgage.
What documents will be required
To apply for a loan to a young family for the construction or purchase of housing, it is required to prepare a standard package of documents:
- A statement from the spouses indicating the data of the guarantors (if any).
- Copies of passports of all co-borrowers.
- Certificate in the form 2-NDFL, confirming the income of the spouses (if there is a surety, then only he must confirm his solvency) and labor books.
- Documents confirming the official marriage and the presence of children.
After considering the application, a bank employee may ask for additional documents. For example, if we are talking about a house under construction, then the financial organization must be sure that all apartments will be delivered on time, and other nuances. If the spouses want to use the existing housing for lending, it must be confirmed that both or one of the spouses are the owners.
Alternative methods of state support for young families
Mortgages are not the only way to reduce loan overpayments. For example, the amount of maternity capital for 2018 is 453 thousand rubles. All of it can be aimed at partial payment of the mortgage. It is worth noting that this program is valid until 2020. Also, families with two or more children can count on additional cash.
Also, at the birth of the baby, a one-time payment of 15 thousand rubles is provided. However, such “help” must be issued no later than 6 months after the birth of the child.
There is also a governor subsidy. It is provided to family people under the age of 30 who have one or more children. The amount of payment depends on the region in which the newlyweds live. Therefore, the amount may vary significantly.
Additionally, you can try to issue a regional payment. As a rule, it is a one-time allowance. The exact amount of such payments also depends on the region of residence of the young spouses.
In addition, it is worth paying attention to programs called “Large Families”. In this case, the newlyweds can count on help from the state, provided that they have at least three children who are not yet 18 years old. A similar program also includes the use of cash to pay part of the mortgage installments. Additionally, newlyweds can be exempted from part of the taxes.