The funds allocated by the state in the amount of about 307 thousand rubles for the birth of a second child are aimed at improving the housing problem.
Including:
- construction (acquisition) of residential premises;
- payment of a contribution, repayment of a debt on an existing loan or loan for the construction or purchase of housing;
- payment of equity in construction;
- payment for the construction of a separate residential building;
- payment of contributions when participating in housing cooperatives;
- repayment of the debt or payment of the down payment for mortgage lending;
- payment of interest on mortgages.
A loan for maternity capital can be obtained only in a few banks: Bank of Moscow, Unicredit, Sberbank of Russia, Delta Credit, Otkritie, and VTB24. In these organizations, specialists have been trained, versed in all the intricacies of lending and conduct work with clients at the highest level.
Sberbank of Russia works in all areas of lending under maternity capital. Favorable conditions and interest rates are provided with the participation of equity holders in new construction. The Bank implements and monitors the fulfillment of obligations both by the borrower and the lender.
VTB24 Bank provides a loan under maternity capital only if there are income statements and a certificate on the issue of maternity capital. Once the certificate is received and all the necessary documents are completed, they can partially repay the mortgage debt.
In each bank branch, certain documents are required before taking a loan against maternity capital :
1) For participants in mortgage lending: a copy of the loan agreement or mortgage agreement.
2) For repayers of debt: a copy of the loan agreement, a lender's statement on the amount of the balance of the principal debt and interest payments, a copy of the mortgage agreement or loan agreement, certificate of state registration of ownership of the house.
The cash amount is transferred in non-cash form to the account of an individual, cooperative, organization acting as a representative of the borrower specified in the documents. All or part of the money in family capital should not exceed the balance of the main debt or the interest debt for the use of a loan necessary for acquiring the right to premises.
Received housing for family capital should be located only within the Russian Federation. A loan for maternity capital is issued at favorable interest rates: from 8.8% to 11.05% per annum for a period of up to thirty years. The conditions depend on the chosen bank, the loan term, the availability of housing insurance, the amount of the down payment.
A loan for maternity capital is calculated by bank employees on the basis of the submitted documents. The less part of the client’s existing funds and the longer the loan period, the higher the rate. Only the result is added the amount of the certificate. You should not contact small banks for lending; you may run into trouble when arranging loans secured by maternity capital. It is better to choose a more reliable credit institution.