Part of the population of our country may qualify for state assistance in acquiring their own housing in the mortgage. On the territory of the Russian Federation there are special programs for granting a mortgage loan not only for such social groups as large families, young teachers and scholars, but also for that category of citizens whose current living conditions are far from comfortable.
Forms of state mortgage subsidies
Mortgage subsidy is a program of material assistance from the state, aimed at improving the living conditions of the socially disadvantaged segments of the population and presented today in the following forms:
- Free payment to the bank of a certain part of the loan. For a citizen can be made as a down payment for a new loan, and payment for the partial repayment of an existing loan.
- Reducing the interest rate on the mortgage, allowing a person to take out a loan on more favorable terms. In this form of subsidy, the decrease in interest paid will occur regardless of the size of the down payment and monthly payments on the loan.
- Subsidies for the purchase of housing from the social fund. A citizen gets the right to buy an apartment or his own house by installments, that is, he is completely exempted from paying interest on a loan. Such conditions apply to the acquisition of only housing that is included in a special state fund and is specifically intended for subsidies.
There are no other forms of state subsidies for mortgage loans today.
Profitable programs for 2018
Each form of subsidy is implemented in special loan offers, each of which requires the borrower to meet certain requirements, so each applicant for government assistance should carefully read the terms of the loan and choose the option that best suits him. Further, it will be told about the preferential mortgage programs with state support operating in 2018.
The program "Young Family"
Only young spouses who have officially registered their marital status and whose age does not exceed 35 years can participate in this program. Also, the couple should stand in line to improve the living conditions in the local administration.
The sizes of subsidies under the program "Young Family" are:
- 35% for families consisting of only two spouses;
- 40% will be paid if there is at least one child in the family;
- an additional 5% may be issued after the birth of another child.
These funds can be used both to make a down payment and to repay the principal amount of a loan.
Benefits for the military
Special conditions for mortgage lending exist for the military. The advantage of this program is that the loan rate can not exceed 12 and a half percent. Requirements for borrowers:
- a military contract must necessarily be concluded after January 1, 2005;
- the length of service of a soldier must be more than 3 years;
- participation in the NIS - Cumulative Mortgage System;
- The down payment on the loan must be at least 20%.
Similar requirements are put forward for employees of the Ministry of Internal Affairs of the Russian Federation - the only difference is that the length of service to the state should be more than 10 years.
Mortgage for families with children
When participating in this program, the age of the spouses does not matter, but a prerequisite is the presence of at least one child in the family, as well as the planning of the second in the period from January 2018 to December 2022.
As in the case of the “Young Family” program, spouses must be in a formal marriage.
This program allows you to take a loan at the rate of 6% per annum, and the maximum loan amount should not exceed:
- 8 million rubles for the Moscow and Leningrad regions;
- 3 million for the rest of the Russian Federation.
Social Mortgage Program
Only those families whose housing conditions are officially recognized as unfavorable can take part in this program. Additional requirements for borrowers:
- age up to 30 years;
- ability to pay more than 50% of the loan yourself;
- official employment and sufficient income to pay the mortgage on their own.
Social mortgage applies only to the purchase of housing from a special state fund, the cost of housing in which up to two and a half times lower than the market.
Mortgage for young professionals
The definition of "young specialist" includes those citizens of the Russian Federation who have a diploma of higher professional education and have worked in one place for more than 3 years. The age of the participant of the program should not exceed 30 years.
The subsidy in this case is that:
- The state at a time pays up to 20% of the cost of purchased housing.
- The loan rate may not exceed ten and a half percent. For young teachers - no higher than 8.5%.
Additional condition for participation in the program: the down payment should not be less than 10% of the total loan amount.
Maternal capital
Maternity capital can be used both to make a down payment on a loan and to pay off current debts. The state does not limit the use of the certificate.
Important! Any of these benefits programs can only be used once.
General conditions of all state programs in 2018
There are a number of basic requirements for the borrower, which do not depend on the chosen lending program. In 2018, the general conditions for obtaining a mortgage loan on preferential terms are:
- The borrower must have Russian citizenship.
- The received funds can be used to purchase only primary properties.
- Purchased housing is subject to compulsory insurance.
- The right to participate in one or another subsidy program is confirmed by documents.
- The borrower must be officially employed.
- The annual loan rate must be at least 12%. Interest can be divided between the borrower and the state: such a scheme is used, for example, in the case of large families.
- The maximum loan term is 30 years.
- New housing must meet the requirements for the number of square meters per person. These requirements may vary, so it is important to make sure that the apartment being purchased is suitable for the size of the family.
- The down payment may not be less than 20% of the total loan amount.
- The loan is issued in Russian currency.
In fact, these requirements may have their exceptions: for example, the state may assume payment of a part of the down payment or reduce the maximum loan term for a certain category of citizens.
Algorithm for registration of preferential mortgage
The process of obtaining a mortgage with state support does not differ from obtaining any other loan. The only exception is additional packages of documents that are necessary to confirm a particular citizen’s preferential status.
Document collection
The potential borrower will be required to submit the following documents to the bank:
- a passport and its copy, an extract from the house register, a certificate of family composition and other personal documents;
- certificate of income and official employment;
- an existing state certificate (for example, a maternity capital certificate);
- documents that are written confirmation of current living conditions.
Of course, the set of documents may vary depending on which preferential program you want to participate in and in which particular bank you apply.
Bank choice
To get subsidies for a mortgage, you must choose a state bank, otherwise you will not be able to apply for any benefits.
The terms of the loan also play an important role: much depends on the size of monthly payments and the total loan period. It is important to sensibly assess your financial capabilities.
Apartment selection
The house in which you purchase an apartment must necessarily be built by a developer who has passed the state accreditation. A list of such development companies can be requested from an employee of a banking organization. Remember that finding a home that suits you at the same time for the price and level of comfort is always a feasible task.
Conclusion of a contract
When signing any papers, it is worth being extremely attentive, and when it comes to a loan agreement, it is useful to double-check everything several times. Pay attention to the nuances and fine print to avoid possible negative sanctions in the future.
Do not be afraid to clarify the incomprehensible details of the bank employee and put your signature only in the event that nothing in the documents gives you any doubts.
Property registration
Buying a home in a mortgage, you become the full owner of the apartment only after making the last payment on the loan. However, you will be required to submit a copy of the contract of sale to the local branch of the Federal Registration Service, otherwise there may be problems with living in the acquired property.
Pros and cons of preferential mortgages with state support
Despite its advantage, a preferential mortgage has not only advantages, but also disadvantages. You can get acquainted with the one and the other below.
Advantages of a mortgage loan with state support:
- reduced rate for a loan (a few percent save you a few hundred thousand rubles);
- no hidden commission;
- even low-income groups of the population can buy new housing.
The disadvantages of this program are:
- limited number of houses and developers involved in the project;
- a relatively small number of banking organizations with which the state will cooperate;
- loan amount has its limit;
- mandatory conditions for participation in any social program for the purchase of housing.
So, the preferential mortgage with state support is the assistance provided by the state to those segments of the population who, for one reason or another, cannot afford new, comfortable housing.
In 2018, there are many special mortgage lending programs, one of which can be used by anyone in need. An important condition is that the borrower must meet certain requirements not only of a financial institution that issues money, but also of the state itself, which subsidizes the purchase of real estate.
