Mortgage lending subsidy is a developed social program that operates within the framework of Russian legislation and is aimed at improving the living conditions of low-income and large families. It is important to understand that only those who really need it can turn to the help of this program. This article will discuss what kind of program it is.
Subsidy, mortgage, state support - all these phenomena are increasingly encountered by Russian citizens, since this is a good chance to improve their living conditions. The state implements programs to help those in need to acquire their own square meters.
It is important to understand that funds for the implementation of the program are allocated from the federal or regional budget. Therefore, the entire process of registration is strictly controlled by the relevant authorities, including a thorough check of the submitted documents.
General idea of mortgage lending with a subsidy
Most Russians solve their housing problems with this type of loan. Thanks to state support, mortgage borrowers can expect a lower cost. It can be expressed both in low interest rates, and in a fixed amount transferred to the account of the borrower, which he is obliged to spend only on repayment of the existing debt.
If we are talking about obtaining subsidies, then the initial payment rules may be slightly changed at the discretion of the regional government. If necessary, the bank has the full right to demand the provision of additional documentation or to set additional conditions. Mortgage subsidies to young families - the most common type of state support, under which the state assumes 40% of the total cost of the purchased apartment or house. This program has been operating since 2012; today, thousands of Russian citizens have managed to use it.
The value of subsidies
With the development of the lending system, most organizations have somewhat simplified the conditions for obtaining consumer loans, as well as mortgages by lowering the interest rate. However, in fact, it turns out that paying such a big debt is not at all easy. In addition, mortgages are classified as long-term loans, and not a single person is able to calculate all the possible difficulties in life. Therefore, such assistance as a mortgage repayment subsidy is significant for many families. However, not everyone can use this privilege.
Who can count on subsidies?
Only those citizens who really feel the need can apply for subsidized mortgages. The requirements for candidates in each state program are different. Persons who may be eligible for subsidies include:
- Large families.
- Military personnel, including citizens who took part in hostilities.
- Citizens with disabilities.
- Young needy families.
- Persons with documentary evidence that they do not have the proper communal conditions for living.
Feature of obtaining
Depending on the region, certain rules are established for obtaining subsidies for the payment of a part of mortgage lending obligations. And although there should not be big differences, before submitting documents, it is recommended to clarify all the requirements for receiving subsidies. To begin with, social workers are required to check all the documents submitted. It is important to note that the mortgage is a specific type of lending, therefore, each delay in the previously concluded agreements may adversely affect the decision on subsidies. In this case, the CI (credit history) data is accepted for general information.
How to get a mortgage subsidy?
Government support offering subsidies is aimed at partial repayment of mortgage debt. Compared with the total amount of debt, such financial support will not cover even half of the costs, however, it is worthwhile to understand that any help in such a difficult matter will significantly ease the burden of citizens. Mortgage subsidy for each program is different. Even after receiving assistance from the state, the borrower must continue to fulfill its obligations to repay the loan properly.
In order to proceed with the registration of the subsidy, the applicant must come to a banking institution and write a corresponding application. Next, you need to collect the necessary package of documents, which is mandatory considered by social workers. It is extremely important to ensure that all certificates are issued in accordance with the stated requirements.
What documents need to be collected?
Mortgage repayment subsidy is issued only to needy citizens. Therefore, before receiving assistance, the borrower must prove this. At first glance, it might seem that the design will require a lot of effort and time. But in order for the mortgage subsidy to be approved, the borrower needs to collect a standard package of documents that is familiar to every person who has ever drawn up a consumer loan. The mandatory list includes the following documents:
- Application for mortgage lending and subsidies.
- Passport of a citizen of the Russian Federation.
- SNILS.
- INN
- The original and a copy of the military ID if the man is less than 27 years old.
- Documents relating to marriage: certificate of marriage / divorce, registration of contractual obligations.
- Birth certificate of a child (for families with children).
- A copy of the work book certified from the place of work.
- Certificate of income confirmation in the form of a bank or generally accepted 2-NDFL.
It is important to note that when choosing a bank where it is possible to use subsidies, you must obtain information on additional requirements in advance.
Maternal Mortgage
If the issue of subsidies affects obtaining a mortgage housing for a young family, then the first form of state assistance is obtaining maternity capital. According to this program, after the second child appears, each family receives a family certificate. Its use is intended to solve certain problems, therefore, receiving cash is not possible, this type of support can also be attributed to subsidies for children. Mortgages can be repaid by maternal capital, or rather, it provides for a partial payment of a housing loan.
Recommendations
It’s good if you have friends who have recently issued a mortgage subsidy. They can suggest some nuances that will help to get a positive response from the relevant authorities and take advantage of state support. After all, as you know, the expenditure of budget money is under strict control. A mortgage grant will not be issued without checking each submitted document. Applicants must clearly comply with the requirements of the program for which a mortgage is issued. The queue for subsidies is another important feature of this type of state support. Not all citizens who can apply for assistance will be able to receive it by collecting the necessary documents. Every year, only a certain amount is allocated for the repayment of a mortgage. Sometimes a subsidy has to wait more than one year.
Summarizing the many tips that citizens who have already received such assistance from the state give, we can highlight several of the most popular:
- It is important to calculate your own financial strength, so that in the future there are no unforeseen circumstances, and especially the appearance of debt on debt obligations. The mortgage subsidy will pay off only part of the debt. Many young families, full of enthusiasm, make this mistake. Subsequently, it turns out that many families are simply physically not ready for various reasons, in accordance with their financial situation, to make monthly payments of the required amount.
- The shorter the loan term is used, the more trust can be gained from absolutely any bank.
- If you can confirm the receipt of additional income, then you should definitely use it. So, for example, if one of the family members rents another housing and receives income from this, then you can provide a lease agreement concluded between the lessor and the lessee.
Conclusion
It is important to remember that when concluding an agreement, absolutely any bank is at risk, even if a mortgage subsidy is used to pay off part of the debt. They may also refuse to apply to potential borrowers for whom state assistance was approved for one of the programs. In addition, all potential recipients of a loan to purchase a home should be careful when choosing a credit institution. It is best to contact trusted banks that have positive feedback and popularity among customers in the Russian Federation.