How to get a social mortgage for a young family? This is a common question. We will examine it in more detail. Own housing is a very topical issue now, especially for young families. Some families have to live in a small area, sometimes with the older generation, with their parents. There are people who pay a lot of money to rent a house. A social mortgage for a young family can help with this important issue.
Who is it for?
If your age is not more than 35 years, you have the right to receive from the state 40% of the cost of housing. Of course, this is not as simple as it seems, but it is quite real.
Mortgages for young families are classified as social housing loans. But not every family has the opportunity to get the right to a loan. To obtain a treasured loan, it is necessary to meet the requirements and certain conditions. So, a newly made family has the opportunity to acquire a mortgage by contacting either the bank or the state.
To participate in this program, you will need to check with your local organization if there is a similar one in your city. Indeed, in each region there are certain rules and restrictions that are directly related to the financing of the submitted mortgages for young families from local budgets.
Requirements for Participants
This program involves subsidizing a mortgage loan from regional and federal budgets. Requirements for participants are also required:
- The age of borrowers. The age of the spouses may not exceed 35 years. This limit applies regardless of the presence or absence of children.
- It is necessary to officially recognize the fact of the need for housing or its improvements.
The last item is considered completed if:
- the housing where the young family is currently living is considered inappropriate if there is less space per person than should be according to regional standards;
- living in an apartment with a sick person with whom it is not possible to live together for certain reasons;
- the room in which the family lives does not meet sanitary standards.
What does a social mortgage mean for a young family? In order to receive official confirmation and all documents that show the inability to live in their premises and the need to improve their living conditions, a young family needs to come to the local administration. But an important condition for participation in the program is the citizenship of the Russian Federation.
What don’t they give credit without?
There are many other requirements that can be made to a young family. If they want to be participants in this program and hope to acquire a mortgage loan, they will need:
- Having a stable monthly income. And its size should double the amount of payments on the loan.
- The presence of official employment.
- Work experience of at least 6 months.
- The presence of local regional registration for both spouses for a certain period of time.
But there is one more subtlety if the spouse should go to serve in the army during the mortgage payments. At the same time, the family must provide the bank with evidence that they can afford the same monthly payments.
The essence of social mortgages for a young family is such that it acquires subsidies that can only be used to improve the quality of housing conditions, for example:
- A subsidy for partial or full settlement of the sale of a house or apartment.
- To finance the construction of their own housing.
- Subsidy for payments of the last payment, if one of the spouses is represented by a member of the housing construction cooperative. After such a contribution, housing will completely become the property of program participants.
- Subsidy for obtaining a mortgage to pay the down payment.
- Subsidies for repaying mortgages, except for the payment of fines, penalties, interest and commissions.
- The subsidy for calculation in the contract, which indicates the purchase of economy class housing.
How to get a social mortgage for a young family?
To get a mortgage on favorable terms, first you need to contact the bank with a certificate issued, which is a confirmation of participation in the "Young Family" program.
All banks offer their terms to borrowers, but in total they agree with the requirements of the state program. The following items may be added to this:
- the absence of an undesirable credit history for each of the spouses;
- seniority;
- official employment of each member of a young family;
- there is a chance to pay the down payment.
How many times can I take part?
You can take part in the Young Family program only once. But in the event that, having received the certificate of the district administration, the family did not manage to use it, then the right remains to re-apply for state subsidies in the form of social benefits. Mortgages "Young Family".
The most responsible step is the choice of the bank where the loan will be issued, with or without state support.
Reasons for refusal
It is also worth considering a number of factors that may subsequently lead to a possible negative response to the issuance of a loan from a bank. Such factors are:
- lack of stable income for spouses;
- low income;
- the wife is on maternity leave;
- the husband is a conscript.
In frequent cases, attracting co-borrowers will help correct the failure. So, the parents of one of the spouses, who have a high and stable income, can become co-borrowers.
An important condition for this mortgage is the provision by the bank of money for the purchase of housing, the acquisition of this property by the client and its further establishment as the owner. Rights to housing will be limited, as the apartment will be secured by the bank until the full payment of the required loan amount.
Without the permission of the bank, the borrower has no reason to change anything in the apartment - to sell, rent, change the layout.
Loan agreement
The mortgage agreement describes all the rights and obligations of the borrower. And before signing this document, it is necessary to study it well, carefully read all the points and circumstances of this agreement. It is worth paying attention to interest rates, the schedule and procedure for monthly payments and the sections that relate to fines for late or late payments. After signing the loan agreement or during it, a document of sale is drawn up.
For example, the program “Young Family” and social mortgage in Kazan are very popular.
Banks
Many banks of the Russian Federation are official partners of state. support that can issue loans and provide preferential conditions for young families. These financial institutions are completely reliable, and you can rely on them. Here are some of them:
- Sberbank The interest rate is 11.5%. There is also a loan program that allows you to delay payment of payments on the occasion of the birth of a child for 3 years.
- Gazprombank. 12% interest rate. Its main features - no guarantors or co-borrowers are required.
- "VTB 24". Its interest rate is 11%.
- Russian Agricultural Bank. Interest rate from 10.5%. The advantage is that there is the possibility of early repayment and the absence of an additional commission.
So it’s good that the Young Family program and the social mortgage continue.
It follows that representatives of young families have the right to purchase their own housing and specific benefits. They have the right to resort to state support and advantageous offers from the bank. But it is worth considering that you still have to make your own funds, and this is impossible to avoid. No subsidies are able to cover the cost of the apartment. To participate in this program “Young Family” and a social mortgage in Kazan in 2017 and receive a positive answer, you need a good income and constant work.
How to get a mortgage for unemployed citizens?
There is no special program for unemployed citizens. The Bank presents each client with its own requirements, and the main one is solvency. It is important that the client has a stable income in order to be able to pay loans on time. Therefore, important employment, seniority and a high degree of income, which allows you to pay a mortgage. And if you do not meet these minimum requirements, you will be denied a mortgage. But the possibility of taking a mortgage loan is still there. Suppose you work, but are not officially employed. People without formal employment can also have high incomes. Consider all available options:
- Proof of income certificate. This option is suitable if the employer agrees to issue such a document.
- Attracting co-borrowers. This method is quite common.
True, there are several difficulties:
- The income of the co-borrower should be sufficient not only for his family, but also for the family of the borrower.
- An important fact. After closing the mortgage, the co-borrower has the right to declare that he himself paid the debt and seek compensation for it. And then the apartment borrower will have to try hard to prove that it was he who paid the loan.
Social mortgage and the program "Young Family" - a pretty good offer.
Mortgage of two documents
People who are not officially employed and do not have a chance to provide a copy of the employment document have the opportunity to take a mortgage. There are special requirements for this:
- The presence of identity documents. It can be a passport and a driver’s license.
- An initial fee. Its size should be at least half of the total loan amount.
When applying for a credit mortgage using two documents, the client must fill out information on his employment and earnings level in the questionnaire. The bank has the right to verify this information by calling the indicated numbers.
What else does a social mortgage offer for a young family? In Saratov, for example, documents can be submitted to the Ministry of Housing and Public Utilities. Employees will review them and make a decision within 15 days.
Additional Warranties
Some credit organizations may “close their eyes” to the fact that the client cannot confirm his labor activity. But in case the client gives additional guarantees for the return of the debt.
In order to increase the chance of a positive response to a mortgage loan, you can mortgage your own property. It can be your old apartment, garage or an empty site. But one requirement must be taken into account - housing must be liquid. The bank must make sure that this mortgaged property will be easily converted into money.
Mortgage for a young family in 2018 without a down payment. Previously, such a mortgage was not uncommon, but over time, the requirements of banks have become more stringent. But now, many banks, as before, practice similar methods. So a young family with a stable income, but not having their own savings, can get a loan without a down payment.
Which banks can be issued?
Banks that can give a mortgage without down payment:
- Sberbank
- TransCapitalBank.
- Svyaz-Bank.
- AKIBank.
- "Bank of the SGB."
- RusstroyBank.
There are several options to approve a mortgage without down payment:
- Programs using maternity capital. The contribution is paid at the expense of budgetary funds. It is enough to provide a certificate of maternity capital.
- Military mortgage. This option is available to contractors and officers. The personal account of a NIS serviceman (accumulative mortgage system) is used.
- Housing certificate. This is a registered certificate that allows you to acquire real estate for budgetary funds. Such benefits are provided to military personnel (in addition to NIS), widows of military personnel, employees of law enforcement bodies and fire service, as well as migrants from the Far North.
Recommendations
Recommendations for a mortgage without a down payment:
- Determine the prospect of a mortgage loan.
- Attract the co-borrower.
- A loan for up to 10 years has a lower interest rate than a long-term loan.
- For a mortgage, apply only to a trusted bank, which is well established in the financial market. Consult with a lawyer before signing documents.
- Consider your capabilities more objectively.
Finally
The most loyal assistant in acquiring housing is a mortgage for young families. There are many affordable ways to buy an apartment for a new cell in society. But do not confuse mortgage programs of banks and federal state programs. These are completely different things.
The bank program is a regular mortgage, and the state program is intended only for those whose housing is issued on preferential terms.
Also, different regions may have their own support program.
We examined how to get a social mortgage for a young family.
