Who can count on a preferential mortgage

State benefits

In order to solve demographic problems, the state provides support to citizens in improving their living conditions. One of the important areas is mortgage benefits, for which special federal programs have been developed:

1. Mortgage 6%. Standard interest charges on loans are 9-10% or higher. This program is intended only for families with children. They can get a home loan at 6% per annum. The Housing Mortgage Lending Agency (AHML), under preferential mortgage lending programs, compensates banks for losses in income with the help of injections from the state budget. The maximum term of this loan is 8 years. It is necessary that children were born during the period of this program.
2. Equity mortgage. When mortgage lending, maternity capital is used, its monetary volume reaches 453 thousand rubles. To invest these funds, there is no need to wait until the child is 3 years old; they can be used immediately after the birth of the second child. With this money you can build a house, buy housing on the secondary market and pay off the loan debt or pay your own start-up payment. To apply for such a loan, you must provide a certificate of the owner of maternity capital.
3. Young family. This mortgage loan benefit provides for state subsidies of up to 30% of the cost of the apartment, and if there is a child, up to 35%. It is necessary that the family be recognized as needing housing and have an official income that covers the loan costs. Family savings are also taken into account if they cover the remaining part of the cost of the property. To familiarize yourself with the terms of the mortgage and its benefits, you need to contact your local administration.
4. Military mortgage. An important direction for solving housing problems of military personnel and their families. Such a loan for the purchase of housing is paid by the state. The military has a special account into which government funds are transferred to purchase an apartment. They can also be used to pay for your own down payment.
5. Restructuring subsidies. Under this benefit, the state provides assistance to certain categories of citizens, helping to write off part of the mortgage in the amount of 1.5 million rubles, which amounts to 20 to 30% of the value of the property. This program allows holders of a foreign currency mortgage to convert it into rubles, and reduce high interest payments to 12% per annum. There is also an option to defer loan payments.

Benefits for the birth of a child with a mortgage: programs for parents

The birth of children increases the burden on a couple's budget. If we are talking about a standard banking product, the presence or absence of children does not change the situation. Fertility support programs are a topic for a separate discussion: the clause on benefits for parents when participating in them is reflected. But even if the agreement does not provide for write-offs and mortgage benefits at the birth of the first child, you can reduce costs:

Thanks to the extension of the maternity capital program, parents can still use this considerable amount to write off part of the debt to the bank. The short list of how maternity capital can be legally used includes improvement of living conditions. The amount indicated in the certificate can be spent:

27 Jun 2020 stopurist 396

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Social mortgage

Social mortgages help ensure that even the most vulnerable sections of society have the opportunity to purchase a home. Such a preferential mortgage provides a chance to take out a loan for real estate, the payment for which, thanks to this federal loan program, will become much easier due to the reduction in the cost of the apartment. This is especially important for families who do not have the funds to buy or build their own housing.

The repayment terms for such a loan are long, but people have the opportunity to move to a new home now, without postponing such an important matter until the necessary funds are accumulated. Approximate scope of social mortgage:

• the maximum loan amount for a mortgage from a bank is 8 million rubles;
• the maximum debt repayment period is from 10 to 30 years;
• minimum own starting payment - 20% of the cost of the apartment;
• annual interest rate - 11.75-11.90%.

In different regions, the conditions of such a mortgage will not necessarily be the same, but in each case the main advantage is a reduction in the cost of the apartment.

Those citizens who would like to become more familiar with the terms of this mortgage loan program in the region should contact their local administration or bank branch.

The following categories of citizens can apply for state assistance under this program:

1. Young families with children. To count on such support, a young family must have funds that should be enough to pay the remaining part of the cost of the apartment in the event of a positive decision and registration of a social mortgage. The age limit for spouses is 35 years old, they must be registered as an apartment owner. According to the law, a family with two members is allocated a living area of ​​48 square meters. m.
2. Persons entitled to housing expansion. According to the legislation of the Russian Federation, each citizen must have at least 18 square meters. m of living space. Those persons whose living conditions do not meet these criteria may qualify for a social mortgage.
3. Military personnel and participants in military conflicts. To qualify for benefits under such a mortgage program, this category of citizens must take part in the savings and mortgage system for military housing for at least 3 years.
4. Employees of all ages who work in budgetary organizations. These are employees of government agencies, employees of educational institutions financed from the state treasury, as well as those who work at cultural and sports facilities, in urban planning enterprises.

To apply for such a mortgage, you need to contact the local administration with a request for housing registration, visit the bank and find out in detail about all the terms of the loan and the requirements for the borrower. Traditionally, a credit institution requests the following information:

• official place of work;
• seniority;
• family composition;
• amount of monthly cash income;
• on property insurance.

Despite the difficulties in obtaining a social mortgage, the terms of this preferential loan are the most favorable.

Mortgage write-off at the birth of a child

8 Dec.
2015 Contents
:

• What is mortgage forgiveness at the birth of your first child?
• How to write off a mortgage upon the birth of a child in 2016
• Features of writing off part of the mortgage at the birth of a child: recommendations from professionals

New additions to the family always involve material costs. However, in some cases, it promises parents financial support from the state, for example, writing off part of the mortgage upon the birth of a child. When parents can apply for social assistance, and what stages they will need to go through to apply for it, it is worth considering in advance.

What is mortgage forgiveness at the birth of your first child?

Russian legislation regulates the write-off of mortgages upon the birth of the first child. To receive a subsidy, young parents must be participants in a targeted state program designed to provide Russians with their own housing. Write-off of credit debt can be carried out in accordance with different options, however, priority is given to determining the cost of 18 m2 of living space intended for write-off. The amount of social assistance is calculated in accordance with the market value of apartments in your city.

When applying for a mortgage write-off at the birth of a child in 2020, keep in mind that you will not be able to receive cash. The funds will be transferred by bank transfer to the account of the bank where you took out a home loan.

How to write off a mortgage upon the birth of a child in 2016

The reason that allows parents to apply for repayment of part of the debt on a housing loan is the birth of the first, second or even third child. A mortgage at the birth of the first child is a write-off of m2, it occurs by paying off part of the debt to a financial institution at the expense of the state. A similar scheme applies when a second child appears. Parents can count on receiving a subsidy that will cover another 18 m2 of mortgage housing. If at the time of the birth of the third child, the family is still paying off the loan, then the state will pay off its debt to the bank.

Parents of two or more children should also not forget about maternity capital, which can significantly reduce family expenses for repaying a housing loan.

To qualify for government assistance when paying off a loan, you must contact the housing mortgage fund. In addition to the application, young parents must have the following package of documents:

• Marriage certificate;
• civil passports;
• birth certificate of the child(ren);
• mortgage agreement;
• a certificate indicating the amount of debt;
• documents confirming ownership of the mortgaged apartment.

Features of writing off part of the mortgage at the birth of a child: recommendations from professionals

If you are expecting a replenishment and are planning to take out a housing loan, listen to the advice of experts who will help you get the coveted subsidy:

1. Before applying for a loan, check with a bank representative to see if he works with government programs in order to be able to take advantage of assistance.
2. Despite the fact that the subsidy is enshrined in law, only those who apply for help with a written application can receive it.
3. Registration of a subsidy in your region may have its own peculiarities, so before you start collecting documents, consult a specialist.

Benefits for a young family

Everyone who is included in the category of a young family has the right to apply for mortgage benefits. If the application for preferential mortgage lending is approved, government support may amount to 40% of the cost of the apartment on the market. This allows young families to move into their own home thanks to the following assistance:

• childless families - state subsidies cover 30% of the cost;
• If you have a small child or a single-parent family, subsidies can reach 35% of the cost.

The family must be recognized as in need of improved housing conditions, and the age of the spouses is limited to 35 years.

Mortgage benefits for large and low-income families

To conclude a mortgage agreement with a bank under this program on preferential terms, confirmation of status is required. Different regions have their own requirements. Basic conditions:

• official registration of marriage;
• biological and adopted children are taken into account;
• the age of children is not older than 18 years;
• in case of training, the benefit is extended to 23 years;
• all family members taken into account must be citizens of the Russian Federation;
• parents' age is not older than 35 years;
• employment of parents.

Upon reaching 18 years of age, a child is not considered a dependent.

Is a mortgage written off in Sberbank at the birth of a child and what benefits are there?

VTB24 cares about borrowers and values ​​their trust, therefore it offers special conditions when a baby appears in the family. It offers various deferments and credit holidays after a written application made with a request for preferential conditions.

Borrowers who already have a child, and those who are planning to have a baby in the future, are trying to find out which bank is most loyal to those who have taken out mortgage loans. When choosing a bank, you need, first of all, to pay attention to large network organizations that issue loans and cooperate with the government.

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Young professionals

High real estate prices, a large initial start-up fee and inflated loan rates do not allow young professionals from budget organizations and their families to acquire their own housing. Federal and regional programs for citizens included in this category help reduce the credit burden and improve the housing provision of the vulnerable part of the population.

Young professionals who have received an education in an educational institution in their field of study and who began working in their specialty no later than 12 months after receiving their graduation diploma can take out a preferential mortgage. The maximum age of the borrower should not exceed 35 years.

Such state support is aimed at subsidizing the improvement of living conditions for employees of organizations financed from the state or regional budgets, or existing through subsidies and subsidies from the state.

Employees of private institutions of a similar nature, working in kindergartens, paid educational institutions, clinics financed from alternative sources, cannot receive federal support under this program.

Such preferential subsidies are not provided in all regions of the Russian Federation, but only in those that urgently need an influx of young specialists into the national economy and use this as a means of motivation.

Within this program, there are the following ways to support young professionals:

• allocation of subsidies from the state budget, with the total amount not exceeding 20% ​​of the value of real estate on the housing market;
• assigning a preferential interest rate, which can be approximately 6% per year.

Borrowers in this category can use maternity capital to pay their own start-up payment or to ensure basic loan payments. Such measures will serve as additional support for young professionals and their limited budget.

When is it profitable to take a deferment for the birth of a child from Sberbank?

This is where the fun begins. There will be a lot of numbers and math.

Nowadays, most payments are calculated by banks using the annuity system. With this calculation, the monthly payment is the same for the entire period of the mortgage loan. This approach is convenient for the borrower because every month you need to pay the same amount on the mortgage and there is no need to rack your brain about how much you need to pay to the bank. And such a system is more convenient for banks, since they earn more from overpayments on mortgages than if the payment system were differentiated.

The monthly payment under any calculation system always consists of 2 parts: Debt repayment and Interest repayment. With the annuity system, in the first years of the mortgage, most of the monthly payment goes towards paying off interest. But this is exactly what we will need to pay if we take advantage of deferred payments from Sberbank upon the birth of a child.

Let's look at the situation using a real example:

• We take out a mortgage from the bank for: 3,000,000 rubles.
• Interest rate: 10.5%
• Mortgage term: 10 years.

With the annuity payment system, our monthly payment will be: 39,645 rubles.

Now let's look at what our monthly payment consists of by year:

As can be seen from the table, only in the 37th month the amount for repaying interest becomes less than the amount for repaying the principal debt. This means that in this case, taking a deferment from Sberbank for the birth of a child is beneficial only after the 3rd year of the mortgage.

Now let's look at exactly the same situation, but with a mortgage term of 25 years.

• We take out a mortgage from the bank for: 3,000,000 rubles.
• Interest rate: 10.5%
• Mortgage term: 25 years.

With the annuity payment system, our monthly payment will be: 27,261 rubles.

Did you see the difference? The longer the mortgage term, the later the moment comes when the amount to repay interest becomes less than the amount to repay the principal portion of the debt. In this case, such a moment comes only after the 217th month of the mortgage. That is, 18 years must pass from the date of the first mortgage payment. Impressive?

Remember that with a long period of lending in the first years of the mortgage, almost 90% of payments go to pay off interest on the mortgage. And the opportunity not to pay 10-20% of the monthly payment thanks to the Sberbank deferment will not greatly change the financial situation of the borrower.

We hope we have clearly explained to you when it is profitable to pay only interest on a loan? The longer you pay your mortgage, the lower the interest rate on the loan. Therefore, a deferment on a mortgage at the birth of a child at Sberbank is most beneficial when the amount for repaying the debt and for repaying the interest becomes approximately the same and the mortgage payment can be reduced by 50%.

We have prepared a table for you that will help you understand the moment when the amount for repaying interest becomes less than the amount for repaying the principal debt. It is at this moment that a deferred payment for the birth of a child from Sberbank will help save you more than 50% of the monthly payment.

But in any case, the ability to pay only mortgage interest reduces the burden on your family budget, no matter by 10%, 50% or 70%. For some borrowers, 10% can be life-saving, but not for everyone.

For such calculations, you can use our mortgage calculator, substituting your data from your mortgage agreement.

Benefits for military personnel and combat veterans

Preferential mortgages for this category of borrowers are ensured by the state’s participation in reducing interest payments and subsidizing citizens’ own starting payment. This requires that the veteran be recognized as in need of improved living conditions, which is facilitated by:

• lack of home;
• living with other families in the same area, in a dormitory or communal apartment;
• lack of basic communications in the house;
• the apartment is in disrepair and is not suitable for habitation;
• The area per family member is less than 18 square meters. m.

How is a mortgage written off at Sberbank at the birth of a child?

Young parents who meet the following requirements can apply to write off part of the mortgage debt at the birth of a child at Sberbank:

• age – no more than 35 years;
• own residential real estate where each family member has less than 18 sq. m.;
• housing does not meet sanitary standards;
• the level of total family income is sufficient to service the loan;
• positive credit history (if any).

If the borrower fails to comply with the insurance conditions, the loan rate increases by 1%. The client will also have to pay more:

• if the house was built without a bank loan - plus 0.5% to the rate;
• the entire period until the date of registration of ownership of housing - plus 1% to the rate.

Young scientists

This preferential mortgage is not provided to all scientists, but only to the following categories:

• those who teach at universities;
• research institute employees;
• employees of defense industry enterprises;
• RAS staff;
• for those who work at Skolkovo.

Requirements:

• age no higher than 35 years, excluding doctors of science;
• Only the second spouse is allowed as a co-borrower;
• work experience of at least 6 months;
• availability of official and additional income, officially confirmed.

The annual interest rate is 10%.

Other government mortgage benefits

There are other types of benefits provided by banks with the support of the state to those who have entered into family relationships and need their own apartment:

1. Public housing. This is housing space that is provided by the state and sold at a reduced cost, with interest rates below standard.
2. Government subsidy. Only those borrowers who, by law, can qualify for state support can take advantage. These funds can only be used to pay off part of the debt.
3. Reduced rate. This benefit exists due to subsidies from the state budget.

Write-off of a mortgage loan upon the birth of a third child

To be able to qualify for certain assistance at the birth of your third baby, you can become a participant in regional programs, for example, “Housing”. It makes it possible to repay (write off) part of the debt:

We recommend reading: Tax benefits for citizens living in the Chaes in the Tula region

According to the law of the Russian Federation, no one has the right to evict a family from an apartment in which minors are registered (with one, two or more children). But what happens if the apartment is pledged to the bank due to a mortgage loan?

Who provides mortgage benefits?

Those who do not know how to get a preferential mortgage need to know that the list of banks participating in these federal programs may change in different regions. But the main credit institutions are:

1. Sberbank. Serves almost all programs. For all categories of borrowers, special conditions are prescribed; it is mandatory to make your own down payment.
2. VTB. Every citizen who belongs to the category of persons applying for a preferential mortgage can receive a loan to purchase their own home on favorable terms.
3. Rosselkhozbank. Provides support to all borrowers who, according to the law, are entitled to a preferential mortgage.

Tax deduction when buying a home

This benefit provides for the return of some of the funds spent on the purchase of real estate using a mortgage loan, and the total amount of cash assistance can reach 13% of monthly loan payments. According to the rules, the following conditions must be met:

• citizenship of the Russian Federation;
• payment of personal income tax in the amount of 13%.

The maximum amount of refund must not exceed the total amount of tax paid during the year. If the housing is in shared ownership, then the total amount is distributed among the shareholders.