Not everyone knows that today many families have a unique opportunity - to get a loan under maternity capital. First of all, this applies mainly to those loan programs, thanks to which many families have a chance to solve their housing or "educational" problems.
How to use maternity capital in order to purchase housing on credit? First you need to clarify that this benefit is provided to the family as state support after the birth of the child, as well as in cases where the family adopted a second child. According to the current legislation, a family can spend the received maternal capital only in three cases:
- - increase mother's pension at the expense of capital;
- - pay for the education of the child;
- - spend these funds to improve the living conditions of the family.
Due to the sufficient time remoteness of the first two points, most Russians prefer to spend this capital on the latter.
Before asking the question “where to get a mortgage loan”, you should familiarize yourself with the conditions for the provision of parent capital, and how to use it. Thus, according to the Pension Fund, which issues certificates for this allowance, more than 75% of Russians usually use the received state material support to pay off their mortgages.
It is important to note that the family can manage this money even before the child is 3 years old, that is, as soon as the parents receive a certificate of capital, then immediately after that they can issue a mortgage or pay off a loan taken earlier.
However, it should be noted that not all organizations issuing loans for the purchase of real estate accept this allowance for the payment of the down payment.
There are only a few ways to use a loan under maternity capital and its funds as a mortgage loan:
- pay the first installment when buying a home;
- to pay for an already taken real estate loan.
This certificate cannot be cashed, and all outgoing payments made with its help must be targeted and non-cash. After this, the process of preparing the necessary documents for the banks, which are required to apply for a mortgage, goes on.
For many holders of a “maternity capital loan” certificate, the proper use of these funds becomes a contentious issue. It is forbidden to use them:
- to pay for repairs in a new apartment;
- to buy a new car;
- In order to take a loan for a business;
- use cash to purchase any real estate;
- the use of all capital or any part thereof for the needs of the family.
In order for a family to receive a loan under maternity capital, and she could use this money for her own purposes, you must first obtain a certificate for this capital. To do this, you need to collect all the necessary documentation, contact the local branch of the FIU and write a statement on its provision.