State assistance in repaying mortgages - reality or empty promises

AHJK House of the Russian Federation for borrowers assistance program

• the borrower is a citizen of the Russian Federation;
• the duration of the mortgage loan is at least a year before applying for help;
• The mortgaged housing must be located on the territory of the Russian Federation and be the only housing for the borrower (the presence of one more housing is allowed, but provided that the total share of the mortgagor and his family members in this property does not exceed 50%).

If some documents are missing, the bank will ask you to provide them additionally. Some nuances of the Mortgage Borrower Assistance Program The Mortgage Borrower Assistance Program, which started in 2020 and continues in 2020, is not something new. This is a direct continuation of the Program that began in 2020, but, however, in a seriously modified form. Despite the fact that the number of borrowers eligible for assistance has decreased due to increased requirements, support has become more personalized. It is possible that the program will be revised in 2020, but a lot will depend on the Government’s willingness to continue to finance it, as well as on the amount of funds allocated for the program.

Disadvantages of the program

As always, there were some negative aspects in the presented mortgage lending process. These are some of the nuances that borrowers should take into account when contacting the bank to submit an application. Here they highlight:

1. Not all banks implement state support programs, so in small towns borrowers will have virtually no choice of conditions.
2. The preferential interest rate “comes into force” only after registration of ownership of the housing, and since apartments can only be purchased in buildings under construction, borrowers will have to pay monthly payments at the standard rate offered by the bank throughout the construction period.
3. A down payment of 20% is a fairly large amount, which not every family has, especially a low-income family or one with many children. As a result, borrowers have to take out an additional loan or offer real estate as collateral.
4. All banks force compulsory home insurance, some require compulsory registration of life insurance for the borrower, and this already creates a larger amount of payments.
5. Housing is purchased only from developers accredited by the bank. If you want to purchase an apartment in a certain area where there are no buildings of accredited developers, the bank has the right to refuse to provide mortgage lending. As a rule, bank employees immediately discuss possible areas and houses where you can purchase living space.

As a result, it turns out that, despite the prospects and quite favorable rates, there will be families and people for whom the presented conditions will not suit. Although there are a lot of people willing at the moment.

New conditions of the Mortgage Borrower Assistance Program 2020-2020

New condition. At the same time, the average monthly total income of the family of the borrower (joint and several debtors) in the calculation period is equal to the sum of the average monthly income of the borrower (joint and several debtors) and members of his family and the amount of the planned monthly payment on the credit (loan), calculated on the date preceding the date of filing the application for restructuring, increased no less than 30 percent compared to the size of the planned monthly payment calculated on the date of conclusion of the credit agreement (loan agreement).

Assistance is provided in the form of loan restructuring. In this case, restructuring can be carried out both by concluding an agreement between the creditor and the borrower (joint and several debtors) to change the terms of a previously concluded credit agreement (loan agreement), and by concluding a new credit agreement (loan agreement) for the purpose of full repayment of debt on a restructured mortgage loan. To conclude debt restructuring, the borrower must submit an application to the credit institution.

Military mortgage

The state provides significant assistance to military personnel and their families in purchasing their own housing. This becomes possible thanks to the creation of the Federal State Unitary Enterprise “Rosvoenipoteka” in the country and the functioning of the savings mortgage system, abbreviated as NIS.

Now, every serviceman who entered into a contract after 2005 automatically becomes a member of the NIS and for each year of service receives a certain amount of deductions to his personal account in the system. In 2020, their size is 268,465.6 rubles. After three years of participation in the NIS, the accumulated funds can be used to form a down payment on the loan. At the same time, further monthly loan payments will also be paid by the state from NIS contributions.

The state support program for military mortgages has several nuances:

• The serviceman has the right to both use the funds after the first three years of participation in it and continue to accumulate them further.
• When granting a loan, banks calculate its term in such a way that at the time of full repayment of the debt, the age of the borrower does not exceed 45 years.
• Since the maximum loan amount is limited to 3 million rubles (the specific amount depends on the bank), to purchase housing with a higher cost, a serviceman can either additionally use his own savings, or take out another loan, which he will pay for on his own.

AHML: assistance programs for mortgage borrowers in 2020

• Reducing the amount of regular loan payments during the entire period of state assistance to one year.
• Partial or complete forgiveness of the principal debt or a change in lending conditions by the bank that issued the loan.
• Reduction of the current interest rate to no more than 11.5% per annum.
• Change of currency from foreign to Russian rubles (the exchange rate as of the date of conclusion of the restructuring agreement is taken into account).
• Exemption from payment by the borrower of penalties, penalties or other fines accrued in accordance with the terms of the loan agreement (except for penalties by court decision).

This makes it possible to judge the impossibility of issuing a restructuring program for persons who fall under the other criteria of the Program, except for the presence of a mortgage in foreign currency. People who really find themselves in a difficult life situation and cannot cope with their credit burden are unlikely to hear a positive response to their application.

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Mortgage lending subsidies in 2020

A subsidy for mortgage repayment for families with children in 2018 will become a priority area of ​​social support for this category of citizens. Russian President V.V. Putin announced the launch of a program according to which interest rates over 6% will be repaid. For a family that has given birth to a second child, the period of state support will be 3 years from the date the loan was issued, and for the birth of a third child - 5 years.

Government subsidy programs for citizens provide several ways to provide assistance: interest rate reduction, partial or complete, depending on the amount, mortgage repayment, debt refinancing using the services of another bank, restructuring in difficult financial situations, or the use of maternity capital.

Refinancing

Taking out a new loan to pay off existing loan debt is called refinancing. With the support of the state, a citizen, turning to another bank, can count on attractive conditions: lower regular contributions, lower interest and a revision of the repayment period of the current loan. The bank is able to provide refinancing services if the borrower has not had any late payments, has an official job and has not had a decrease in income.

Mortgage loan restructuring

To carry out the restructuring procedure of a credit institution, confirmation of the difficult financial situation of the debtor will be required. A financial situation is considered difficult when, after making the monthly payment, the borrower has less than two BPM left for living expenses. The task of restructuring is to make changes to the loan agreement so as to reduce or temporarily cancel the monthly payment.

The term of the contract is extended or the payment of the difference is transferred to the end of the payment schedule, and part of the amount is covered by the state. The lender also receives a certain benefit, since the likelihood of repayment increases. To receive government support, the following conditions must be met: credit housing is the only one, the cost of real estate does not exceed 160% of the regional average and there are no overdue payments.

In August 2020, the restructuring program was reviewed and extended. According to the Government's decision, an additional 2 billion rubles were allocated for subsidies and the conditions for the procedure were updated: the contract must last more than 1 year at the time of restructuring, the amount of state support can be up to 30% of the remaining debt amount, but not more than 1.5 million rubles ; the mortgaged property must be the citizen's only home.

Subsidizing the mortgage rate

The following can apply for government subsidies:

• low-income families with children under 18 years of age;
• all young families with minor children;
• public sector workers and civil servants - teachers, doctors, etc.;
• military.

Mortgage interest rate subsidies are aimed at improving the living conditions of citizens of the Russian Federation. Federal budget funds are used to partially pay the state for the first mortgage payment, but the rate subsidy program applies only to new buildings. Subsidy decisions are made by the housing mortgage lending agency. Without damaging the bank, the state reduces the rate to 11% for military reserves and to 12% for ordinary citizens.

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Repayment of a mortgage at the expense of the state with maternity capital

At the birth or adoption of a second child, the family receives maternity capital, which can be used to pay off mortgage debt. The program has been in effect since 2007 and has been extended until 2021. For many families, a subsidy for repaying a mortgage loan in 2020 is the only opportunity to improve their living conditions. It is important that to obtain a certificate for state support, only non-cash payments are available; receiving maternity capital in cash is not possible.

The program has a number of features:

• You can use government support only once;
• the amount received under the certificate is adjusted annually to take into account inflation;
• Any citizen can claim the right to preferential lending terms after the birth of a second child in the family;
• the subsidy can be used to pay both the down payment and the principal or interest on the mortgage;
• a certificate for receiving state support ceases to be valid upon the death of the recipient, deprivation of parental rights and upon cancellation of adoption.

When purchasing real estate with the support of the state, a citizen is obliged to register ownership rights in Rosreestr; The property documents indicate that the house or apartment is pledged to a credit institution. The process of repaying a mortgage loan using maternity capital funds can be divided into several stages:

1. Obtaining a certificate of existing debt from the creditor.
2. Collection of documentation required for submission to the pension fund.
3. Review of an application takes an average of a month. If approved, it will take another 30 days to transfer money from the Pension Fund to the credit institution.
4. As soon as the money is transferred to the bank, the mortgage loan amount is recalculated and the borrower receives an updated payment schedule.
5. If the family is already paying off the mortgage debt, the subsidy can be used to pay it off early, subject to the provision of the documents specified in paragraphs 6 and 13 of Decree of the Government of the Russian Federation of December 12, 2007 N 862 (as amended on May 25, 2017).

House of the Russian Federation, assistance program for borrowers, what documents

In Russia, mortgage programs find support at the state level and in special mortgage agencies. First, the borrower will need to undergo a solvency check with a credit institution. What documents are needed for a mortgage? The main documents are a passport and a certificate confirming income (2 personal income taxes). It is also allowed to provide your income in the form of a bank. After preliminary selection, the future borrower will be required to provide documents that confirm their labor, family and social status.

The program includes the responsibility of banks for independent approval of terms and a certain package of papers for borrowers seeking to use state support for a mortgage loan. The exception is mandatory papers, the provision of which is specified at the legislative level.

Third child – debt write-off

If a third baby has appeared in the family, you can take advantage of the unique opportunity offered by the state and pay off the entire debt to the balance. The mortgage upon the birth of a third child is repaid from the federal budget. This decision was made so that parents could provide decent living conditions for their children, and not spend their savings on loan repayments.

Repayment of the mortgage at the birth of the third child occurs through the Pension Fund. Parents need to submit documents and copies there:

• Maternity capital certificate.
• Passport.
• Certificates from the registry office confirming the marriage and the birth of each child.
• Confirmation of your right to own the property under which the mortgage is issued.
• Mortgage agreement with the bank.
• An extract or certificate indicating the amount of debt.

After submitting copies, you must wait for a response from the Pension Fund. If positive, the funds will be sent to the bank, and the mortgage will be closed upon the birth of the 3rd child. After this, it is recommended to obtain a certificate from the fund about this operation in order to have confirmation that there is no debt to the credit institution.

Who is eligible for mortgage loan subsidies in 2020?

It is only possible to write off a mortgage upon the birth of a child at present. What will happen next is still an open question. The extension of maternity capital payments for 2020 may be cancelled. At least, many officials and government figures say so.

State program for assistance to borrowers

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• citizens who have one or more minor children or are guardians (trustees) of one or more minor children;
• citizens whose dependents are persons under the age of 24 who are students, students (cadets), graduate students, adjuncts, residents, assistant trainees, interns and full-time students.
• citizens who are combat veterans;
• citizens who are disabled or have disabled children;

What criteria must be met?

There are several conditions that must be met to receive government financial support:

• Only individuals who are dependent on a minor child or a disabled person are eligible to submit applications. In addition, the list of categories includes combat veterans and disabled people of any group. It is important to confirm that they are in a difficult financial situation at this time.
• Documents on financial status are provided for the last three months.
• Persons whose total income exceeds the minimum wage cannot participate in the program. In this case, the value should not exceed twice the value. If the amount is higher, the applicants will be denied restructuring.
• Credit institution specialists focus on the date of execution of the agreement. It must have been signed more than a year ago at the time of application.
• The fact in which currency the mortgage loan is issued is not taken into account.
• The borrower needs to collect a list of documents requested by the bank.

If a person does not meet the requirements, his application will be rejected.

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Sberbank assistance program for mortgage borrowers

• The security must be a mortgage of residential premises located on the territory of Russia, or rights of claim if we are talking about participation in shared construction,
• The property or claim must be the only residence for the mortgagor,
• The total share of the mortgagor and his family members in the ownership right should not be more than 1 other residential premises, in the amount of no more than 50%. This requirement applies to restructuring applications written as of April 30, 2015,
• The total area of ​​your mortgaged property should not exceed - for a one-room apartment - 45 square meters, for a two-room apartment - 65 square meters, for premises with 3 or more rooms - no more than 85 square meters.

Where can I see the latest data? When requesting information on the Internet about Resolution No. 373 of April 20, 2015. You should be interested in the changes dated August 11, the document is called: “On the further implementation of the program of assistance to certain categories of borrowers for residential mortgage loans who find themselves in a difficult financial situation.”

State assistance programs for mortgage repayments in 2018

Next year there will be five programs to subsidize mortgage loans:

• home;
• housing for a Russian family;
• subsidy for mortgage repayment for a young family;
• military mortgage;
• mortgage for maternity capital.

Housing

Participants in this program can expect a significant reduction in additional loan charges. In addition, borrowers can be provided with a certificate for the purchase of an apartment or house as property. Participation in the Housing program is available to orphans, large families, disabled people, and single mothers. Public sector specialists - doctors, teachers, scientists, etc. - can count on support.

The subsidy for repaying a mortgage loan in 2020 is not always sufficient to pay the full cost of a new home, so you can use these funds as a down payment. The balance is then paid by the buyer using a loan or personal savings. At the federal level, a family of 4 people is provided with a subsidy of 1 million rubles, but regional authorities have the right to provide no more than 300 thousand.

A citizen of the Russian Federation should be able to independently compensate for the gap between the subsidy provided by the state and the average market price for housing in a particular region. It should be borne in mind that initially the program is not aimed at providing housing on a completely free basis.

State support for young families with mortgages

Compensation for a mortgage from the state to a young family is designed for young people of average income under 35 years of age. A prerequisite is the absence of any suitable living space in the personal property of both recipients of the subsidy for loan repayment in 2020. To apply for government assistance, you must prepare a package of documents and contact the youth policy department of the city administration.

The amount of the subsidy received directly depends on the official income of the family, the presence or absence of minor children and the comprehensive level of financial well-being of the subject of the Russian Federation. For example, a childless family may be offered financial support of up to 30% of the loan amount, and a couple with children will be covered up to 35%, plus 5% for each child. It is important to consider that in case of low income or bad credit history, the bank may refuse the application, even if the borrower participates in the program.

Mortgage compensation for public sector employees and civil servants

The subsidy program includes “Social Mortgage”, aimed exclusively at employees of the public sector with a below-average income. The target category is citizens-employees of government organizations - clinics, hospitals, educational institutions and scientific research institutes. Law enforcement and security personnel will not be able to participate in this program. Certificates are issued by a departmental body.

You can use the funds received in only two ways - by compensating for the interest on the mortgage or by receiving up to 15% of the value of the property. Participation in the subsidy program for scientific workers is very beneficial, the rate for which can be compensated by up to 10%. There are age restrictions - no older than 35 years, but it is removed if the citizen has more than 25 years of service.

Subsidy for loan repayment at the birth of a child

The benefit provided for family growth is calculated based on the upper limit of the per capita subsistence level for the two quarters preceding the date of filing the application for support and submitting all relevant documents. At the birth or adoption of the first child, the subsidy will be 40 subsistence minimum budgets (BLS), for the second - 80. At the birth or adoption of two children, the assistance for the first child is 40, and for the second 80 BLS.

Military mortgage

There is a subsidy for military members to pay off their mortgage in 2020. Participation in the program is available to all employees who have served in the military for more than 3 years and military retirees. A certain amount is transferred monthly to the personal account of a participant in the savings-mortgage system (NIS) program. After 3 years, you can submit a report and contact the mortgage bank. The loan rate in this case is fixed and amounts to 9.9 percent per annum. The collected finances are paid towards the mortgage, and the loan is fully covered by the state instead of the citizen.

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The savings and mortgage system fund for each program participant is formed primarily from federal budget funds. The standard conditions for calculating the military mortgage program are 18 square meters for each family member. It is planned to purchase housing with an area of ​​up to 54 square meters. meters, designed for an average family of 3-4 people. For some categories of military personnel, an increase in the area of ​​future housing is available (from 15 to 20 sq. m):

• university teachers;
• having the rank of colonel or higher;
• unit commanders;
• military with an academic degree or honorary titles.

The military will have to supplement the subsidy received under the certificate with personal savings only in two cases: if the citizen was dismissed from his position, or if the allocated funds are not enough to fully repay the cost of the purchased property. The latter is especially relevant for Moscow, the Moscow region and other regions with high housing prices.

Current social programs for purchasing housing in Russia

The state program “Housing” provides for the development of a special housing market that will be optimally affordable for the majority of citizens, as well as the provision of such housing to categories of Russians in need. For more successful and high-quality implementation, this social housing program was divided into several subprograms.

• Authorized bodies must officially recognize the family as needing housing or improving the existing one.
• Each spouse must be no older than 35 years of age (if the family is single-parent, the same applies to one parent).
• The family must have at least one child.
• The need to provide a certificate of permanent income or an available amount of money that will allow you to make a down payment for housing.

How to get a mortgage with government support?

Today, there are three options for providing housing for low-income people and citizens in need of housing. Each option has its pros and cons, so you should consider them with a lender who can make an accurate calculation.

So, a mortgage loan with state support is issued in three directions:

1. The state “covers” the missing interest rate for the lender, which is provided for the borrower.

If a bank mortgage is issued at 14%, and the maximum borrower interest is only 12%, then the remaining 2% of the loan is covered by government subsidies pre-approved to the borrower.

2. Mortgage subsidies by the state - carried out by the state and issued to the borrower who himself has found a lender, but he works with state support.

The subsidy amount is calculated based on the cost of the selected apartment (taking into account no more than 18 m2 per family member). Childless families receive no more than 35% of the cost, and other families - no more than 40%. This subsidy is often enough to pay off the down payment or part of the cost of housing.

3. The purchase of housing at preferential rates occurs if there are houses under construction in the city or locality, the construction of which is carried out with government support.

Thus, the state offers everyone in need to purchase housing at a slightly reduced cost and obtain a mortgage from a bank for the purchase.

To apply for the presented mortgage options, a family or citizen should contact the local municipality, where they will present exactly the package of documents that must be collected in a particular case.

Basically it assumes the presence of:

• copies of passports of all family members;
• birth certificates of all children;
• marriage certificates;
• income certificates;
• extracts from the house register or certificate of family composition, other documents.

Of course, for each case, you may need extracts from the citywide queue for an apartment (if the municipality has already recognized the family as needy and put on the queue), a medical certificate confirming the presence of a certain disability group and other documentation confirming the need and possibility of obtaining a mortgage with state support.

After submitting all the papers, the municipality commission checks all the documents and makes a decision on possible participation in obtaining a mortgage loan with state support.

The family or citizen is issued a certificate with which they can apply to the bank as “evidence” of assistance from the state when applying for a loan in any of the ways presented above.

AHML - assistance to mortgage borrowers in 2020: package of documents

The program includes the responsibility of banks for independent approval of terms and a certain package of papers for borrowers seeking to use state support for a mortgage loan. The exception is mandatory papers, the provision of which is specified at the legislative level.

1. Applies to groups of people who are affected by the project: persons who have children under the age of majority or disabled children, and in addition those who participated in hostilities
2. A reduction in earnings by a third on any residential mortgage loan or an increase in payments on a foreign currency mortgage loan by 30%. For comparison, three-month periods that preceded the moment of taking out a loan (1st period) and the time of application for restructuring (2nd relative period). To compare payments on foreign currency mortgages, payments are taken into account at the time of applying for economic support and at the time of receiving a loan, while both payments are translated into national currency for calculation at the Central Bank exchange rate on the appropriate date. To provide support, in addition, information for the past three months is taken into account about the amount of family income that falls on each family member, based on the minimum level of income in the region. If the amount of earnings is more than twice the minimum income level , then no assistance will be provided.
3. Obtaining a mortgage at least one year before submitting an application for purchasing economic support. The currency of the loan is not significant.
4. Submitting an application and a certain package of papers to the bank where the loan was issued, despite the fact that the bank is obliged to participate in the project.

Who has the right to apply for state support?

State support for mortgages “applies” only to persons belonging to the budgetary or socially low-income sectors. Thus, the following can apply for state support:

• People and families who have been identified as in need of housing and are currently on a waiting list to improve their living conditions.
• Families where each person has less than 18 m2, which does not meet the standards for living conditions.
• Employees of budgetary institutions and organizations - doctors, teachers and other citizens.

A separate point should be made for families with children or a disabled spouse, adults with a certain disability group and orphans (but not children in orphanages, but with guardianship of a relative).

These citizens may qualify for other subsidies issued by the state, but in rare cases, after all the circumstances and factors have been clarified, it is determined that they can only apply for a mortgage with state support.

In such cases, these citizens go “out of turn” and on somewhat preferential processing conditions. Otherwise, standard requirements and rules apply to them.

Despite the benefits for the borrower, certain requirements apply to them:

• the borrower must have Russian citizenship;
• he must be at least 21 years old, but not more than 65 years old at the time of loan repayment (Sberbank allows a maximum age of 75 years);
• the borrower must have official employment at his last place of work for a period of at least 6 months;
• the borrower must submit a certificate of income in the established form - 2 personal income tax;
• the lender must also “present” one guarantor or co-borrower, who will officially confirm his consent.

From what has been presented it follows that getting a mortgage with state support is not so easy. Here there are almost all the same requirements that are approved for standard mortgage lending.

State program for assistance to mortgage borrowers

The rapid growth of problem loans was caused by the depreciation of the Russian national currency against the US dollar, as a result of which the standard of living of Russian citizens fell sharply. They were simply physically unable to fulfill their obligations to the lender, and their family budget would not have been able to withstand such a huge financial burden if the state had not intervened in time and launched the Mortgage Borrower Assistance Program.

Despite such a huge amount, it was not possible to get everyone in need of state support out of the credit yoke, so on August 11, 2020, the Government of the Russian Federation adopted a new Resolution No. 961, which dealt with extending the validity of the previous state assistance program for mortgage holders, for which 2 more were allocated billion rubles.

Benefits upon the birth of your first child

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 at the birth of the first child, you can reduce costs:

• using maternity benefits funds for contributions or interest repayments;
• by submitting an application to refinance the current rate, justifying the request by the changed condition of the family;
• by contacting another bank, ready to offer favorable conditions for such families, for restructuring.

A new citizen of the country is entitled to 18 square meters under the “Affordable Housing for Young Families” program. By applying to the municipality to participate in this program, parents can expect to receive a subsidy for space taking into account the newborn. The subsidy amount can be used to cover the debt to the bank, if at the time of applying for a mortgage the family was already in line for a subsidy, or to cover the costs of the down payment on a mortgaged apartment.

When applying for benefits and write-offs, the following must be presented:

• parents' passports;
• marriage and birth certificate;
• agreement with the bank;
• extract from the loan repayment history;
• an account for crediting the amount if the donation is approved.

You can also use the amount given as a lump sum for the maintenance of a newborn. The list of acceptable areas for using targeted funds provides for this possibility.

AHK official website borrower assistance program in 2020

To control financing, the Housing Mortgage Lending Agency was created, which began to play the role of an intermediary between the lender and the borrower. As a result of such a scheme, the bank receives lost financial benefits, and the borrower receives preferential lending conditions. All participants in this scheme benefit financially.

To support citizens experiencing difficulties servicing mortgage loans, last year the Government of the Russian Federation extended the Assistance Program for certain categories of borrowers for residential mortgage loans (loans) who find themselves in a difficult financial situation.

What it is?

A number of banks are participating in the program for purchasing housing with the help of the state mortgage support project.

The principle of the program is to finance the housing lending program, attracting funds from the Pension Fund . Banks that participate in such a project have the opportunity to offer the borrower convenient conditions. And also well-reduced housing rates in new buildings, which were financed by the state.

Limitation on the amount of state aid

The program does not provide for a maximum allowable mortgage payment amount. There are several nuances to covering debt obligations of a young family to the bank:

1. If a child appears in the family, the spouses can count on paying off the living space per eighteen square meters.
2. When another child is born, additional funds are allocated to pay for eighteen square meters.
3. The family can count on repayment of the full cost of housing. But provided that the couple gives birth to a third child, and the cost of the selected transaction object does not exceed the market average.

But there are some subtleties here too. Each region of the Russian Federation has its own maximum amount for closing mortgage obligations. For example, residents of a metropolis can receive a subsidy in the amount of one million rubles. In a small province, the permissible repayment amount does not exceed six hundred thousand rubles.

The nuances of repaying a mortgage for young families

Government support is provided under strict control. Therefore, if you are counting on budget funds, you need to prepare for a thorough check of personal information. Let's consider all the features of repayment:

1. The allocated funds are not cashed out. It will not be possible to spend government assistance on other purposes. The amount is transferred to the credit account of the financial institution.
2. Even after signing the contract, you can count on budget funds. For example, if another child is born in the family, an additional subsidy is allocated under the terms of the program. The client receives money to repay the mortgage loan. The amount of assistance does not exceed five percent of the transaction value.
3. Participation in the program is documented. If the decision is positive, the client receives a certificate.
4. If you got a mortgage from a small or regional bank, you don't have to worry. Unlike standard preferential conditions, the government allocates money to repay mortgages not only in the largest institutions in the country.
5. A family has the right to receive assistance only once.

Special conditions are provided to young families.

Bank conditions for mortgages with state support

Each financial and credit organization provides its own special requirements, because applying for a mortgage is individual for each bank. Therefore, before applying, you should carefully study the conditions of each bank in order to choose the most optimal option.

Sberbank

One of the most popular banks in our country offers very favorable conditions, namely:

• The first payment is 20% of the total amount;
• You can borrow up to 20,000,000 rubles;
• The loan rate starts at 5%;
• Issued for up to 30 years.

Bank opening"

• You can take out a loan up to 150,000,000 rubles;
• The rate starts at 11% per annum;
• The down payment is set the same - 20%;
• Duration up to 30 years.

A huge advantage is that even an individual entrepreneur can apply for a mortgage.

Rosbank

• Can be taken for a cost of up to 12,000,000 rubles;
• Duration up to 25 years;
• Rate from 5% per annum.

Individual entrepreneurs or people who have opened their own business can also take it.

How to make the right choice of a particular mortgage

Although citizens have the opportunity to receive assistance from the state in repaying their mortgage (subsidies), they still need to make an informed choice regarding mortgage conditions. If you do not approach this issue responsibly, assistance from the state may not bring the expected effect. Moreover, the borrower may not “feel” it at all, since the amount of his debt will remain practically at the same level. This will happen if the wrong option for obtaining a mortgage loan was chosen - for example, at excessively inflated interest rates (if a citizen has to repay more interest charges than the principal debt, for which there is no longer enough money left).

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Next, we invite you to familiarize yourself with the table, which reflects some useful tips on how to choose the best mortgage option.

Advantages of preferential mortgage lending using the example of Sberbank of Russia

One of the largest and most stable banks in Russia offers favorable mortgage conditions:

1. If a child is born in the family, the family can defer payment of mandatory payments until the age of three.
2. Families who have had a second child can also delay payments for a longer period (up to five years).
3. A couple with children must pay a down payment of ten percent of the cost of housing. Families without children will need to contribute an amount of fifteen percent.
4. If clients can repay the debt in one payment, Sberbank of Russia offers favorable conditions. You will not need to pay a commission for each subsequent month of the contract period.
5. The annual mortgage rate ranges from 9.5 to 15.25%.

After the birth of the second child, the couple can exercise the right to pay off obligations using family capital.