Large families are offered various benefits and concessions at the state level, allowing them to provide their children with everything necessary. Therefore, even a preferential mortgage for a large family is offered. It is distinguished by favorable conditions, since loan overpayments are partially covered by public funds. Therefore, borrowers pay less.
Who is included in large families?
The federal legislation does not have a clear definition of a large family, therefore its characteristics are established at the regional level. To obtain this status, parents must contact the social protection authorities with documents confirming that they meet the requirements.
Families with many children are most often recognized under the conditions:
- parents are official spouses;
- bring up not less than three children, and they can be not only relatives, but also adoptive;
- all children are minors.
Only under such conditions, different types of assistance from the state are offered.
The nuances of obtaining status
If at least one child is 18 years old, then citizens lose the right to enjoy various benefits from the state. In certain situations, the family continues to be large even after one child reaches adulthood. In this case, it is important to prove that he entered the university for full-time studies.
Citizens will not be able to obtain this status if they send their children to be brought up in a boarding school or lose their parental rights.
The status is not assigned automatically, so citizens must take care of their own registration. For this, documents are prepared confirming that the family really meets all the requirements. They are transferred to social protection authorities, after which the applicants receive a certificate confirming their status. Only with this document are citizens entitled to issue a mortgage to large families under the new law.
How to get the status?
If citizens plan to use preferential mortgage loans, then first you need to take care of the official assignment of the corresponding status. To do this, you must contact the social security authorities with the following documents:
- a correctly written statement listing all minor children;
- copies of passports of parents;
- birth certificates of children;
- certificate obtained from the home book and containing information on the composition of the family.
Within one month, the received documentation is checked, after which a certificate is issued indicating that the family is large. If necessary, additional documents may be requested. Only with confirmation of status is a mortgage issued for a large family in 2018.
What state program is used?
To get a preferential mortgage, a special program called “Affordable Housing” is used. It was introduced back in 2013, but numerous changes were regularly made to it. It offers a really soft loan, since most of the interest is paid by the state. The specific features, conditions and parameters depend on the region where the family lives. The main conditions for obtaining such a mortgage for a large family include the following:
- at least three minors are brought up;
- parents have a certificate confirming that they are members of a large family;
- citizens are registered in the queue for housing, as they need to improve living conditions;
- The presence of a permanent residence permit is confirmed in the region where the property is purchased.
Only if the above requirements are met, parents can apply to large banks for a mortgage loan. For this, only institutions participating in this program are selected.
Loan terms
Mortgages for large families in Moscow and other regions may be slightly different, as certain adjustments are made by local authorities. But the following conditions are used standardly:
- maximum funds are issued for 30 years;
- down payment varies from 10 to 20 percent;
- the rate is lower than for other types of mortgages, so it does not exceed 11%;
- it is allowed to use the capital to repay the loan;
- if another child appears, then parents can take vacations for three years, during which they do not pay mortgage funds.
A mortgage rate for a large family is considered the most profitable, but even under such conditions, interest is paid at the expense of state funds. An important condition for registering such a loan is that a mortgage is issued exclusively in rubles.
How is it made out?
The procedure for obtaining a mortgage for a large family in 2018 is divided into successive stages. These include actions:
- Initially, the family submits an application to local authorities or social security, on the basis of which it is assigned the status of a large family;
- then documents are sent to the bank for approval for obtaining a preferential mortgage, and they include an application, marriage certificate, confirmation of the status of a large family, as well as documents for all children;
- real estate is selected, which will be purchased at the expense of a soft loan;
- if the bank issues approval for the issuance of a mortgage, then the funds are transferred to the seller, and the family registers the right to the object in Rosreestr;
- The bank directly submits an application to the local administration, on the basis of which a subsidy covering interest on the mortgage is transferred to it.
The preferential mortgage for large families allows citizens to purchase real estate on really favorable terms. Such an opportunity is offered only by a limited number of banks operating under this program.
Nuances of contacting Sberbank
The most often registered by citizens in Sberbank is a mortgage for large families. This institution is engaged in the implementation of almost all government programs. Using the services of Sberbank has many advantages:
- a mortgage for each applicant is provided on individual conditions, depending on the status, earnings and other parameters of the family;
- in some cases, a large down payment is proposed to large families, not exceeding 10%;
- under certain conditions, the interest rate can be reduced to 7%;
- preferential mortgages are issued for different types of real estate, therefore housing can be located on the primary or secondary market, and a piece of land can be bought on which the construction of a private residential building is planned;
- more loyal conditions are offered to borrowers if they are not yet 35 years old;
- various types of property that already belong to the family can be used as collateral, moreover, not only real estate, but even cars are used for this;
- if the family income is too small, then it is allowed to involve co-borrowers in the registration of mortgages, as their official income allows you to increase the maximum amount issued by the bank for the purchase of real estate.
An application can be submitted not only with a personal visit to a branch of Sberbank, but also in electronic form. If the decision is positive, then potential borrowers are invited to the office of the institution to discuss additional terms of cooperation.
What documents are needed?
A mortgage for a large family is issued only when you transfer to the bank the desired package of documents. These include the documentation:
- passports of parents and adult children;
- documents for attracted co-borrowers;
- marriage certificate;
- a certificate obtained from the home book and containing information on the composition of the family;
- documents indicating the general and official income of the family, and for this you can use not only 2-NDFL certificates obtained from official places of employment, but also other papers indicating the receipt of money in the family;
- if the father is less than 27 years old, then an additional military ticket is required from him;
- certificate for the capital registered in the PF, as well as a statement of the state of the account, if you plan to use these funds to pay off the mortgage or as a down payment;
- documents for the selected property, which will be acquired at the expense of borrowed funds.
Sberbank employees may require the preparation of additional documentation, and potential borrowers must take care of the provision of these securities, otherwise the loan will be refused.
In some regions, additional measures are offered to support large families, therefore, various benefits and subsidies are provided. You need to find out about the possibility of their use directly in social protection bodies or in the local administration.
Pitfalls of the process
According to the state program, a mortgage for a large family is considered an advantageous offer for each person. It provides a subsidy at the federal level covering most of the interest. But even the design of such assistance has some drawbacks and pitfalls. These include the following:
- a low interest on mortgages for large families is offered, provided that borrowers insure the purchased property and their life, as well as they must receive a salary in the account at the bank selected for lending;
- parents are required to prove sufficient substantial incomes, since the amount of funds allocated to repay the mortgage should not interfere with the normal existence of the family, therefore the maximum payment is only 45% of the total income of citizens;
- restrictions on the choice of a developer from whom you can buy an apartment, since in some regions you can use preferential terms only when buying property in the primary market, and a list of developers is compiled by the bank.
It is advisable to apply for borrowed funds exclusively to a large and reliable bank, since under such conditions you can be sure that there are no different hidden fees or other pitfalls in the loan agreement.
Which bank to contact?
A mortgage for a large family is issued by many banks offering their unique programs. Most often, citizens who meet numerous conditions apply to the following institutions:
- Sberbank He offers the program "Affordable Housing" or "Young Family". The rate varies from 10.9% to 13%. Other conditions depend on the chosen term of the mortgage and the size of the initial investment. The interest is reduced if life insurance is purchased or salary is transferred to a Sberbank card.
- AHML. The proposed rate is from 6% to 11% when buying a home in the primary or secondary market. The down payment is 10%.
- Raiffeisenbank The rate starts from 11%, and the loan term is maximum 25 years. You can get a loan even without an initial investment.
Citizens independently decide which bank they will choose for lending.
Conclusions
Families with many children can count on getting a truly preferential and profitable mortgage. To do this, you can contact Sberbank or other banking institutions. It is important that citizens meet certain requirements and have the official status of large families.
The loan processing procedure assumes that, on the basis of the documents received, the bank that provided the preferential terms receives a subsidy from the state to cover interest.