The preferential rate of 6% for family mortgages was extended for the entire loan term. Now a family with two or three children can reduce mortgage payments not by three or five years, but by ten or even fifteen. If there is a child with a disability in the family, he may be the only one, and they will give state support anyway. For the Far East, the rate was reduced to 5% and allowed to buy secondary housing.
Families with a mortgage and children can save hundreds of thousands of rubles. Here is a complete discussion of the changes in the state support program.
New conditions for family mortgages
Here is the main thing that families with children need to know:
- The right to state support appears if at least a second child was born in the family from 2018 to 2022.
- If the child has a disability, he may be the only one in the family. He may be born before 2018.
- The mortgage rate is 6%. The number of children does not affect the period of benefits. The rate will be reduced by at least 10 or 15 years.
- State support is given only when buying housing in the primary market.
- The contract for the purchase of housing should be concluded from 2018.
- You can refinance old loans, even several times. Then the refinancing date is important, not the purchase.
- For residents of the Far East, special conditions: at the birth of at least a second child from 2019 - a preferential rate of 5%. You can buy secondary housing, but only in the village.
- Matcapital is included in the maximum loan amount. It wasn’t included before.
- Down payment - 20%, as before. It may consist entirely of maternal capital.
What is a family mortgage?
Family mortgage is the state support program for families with children, according to which the mortgage rate can be reduced to 6%. This program works since 2018 and only for families in which the second or subsequent child was born on January 1, 2018.
Previously, the rate on this program was reduced only when purchasing primary housing. You could still refinance the old mortgage. The bank reduced the rate to 6%, took less money from the family, and the state reimbursed him for lost income.
This program has already changed: they increased the maximum loan amount and terms of benefits. And here is the second change in the rules of state support: this is one of the instructions of the president, the implementation of which we are monitoring.
A complete list of conditions for a family mortgage must be sought in government decree No. 1711 of 12/30/17, but as amended. There are several changes in the program, the latest revision came into force on November 14, 2019. It introduced a condition for a reduced rate for families with children with disabilities. Now state support is available even to families with one child, if he has health problems.
Why did you have to change the terms of the program?
The preferential rate was not given for the entire loan term, but only for a few years. For example, if a second child was born in a family in 2018, you could take a mortgage and pay the bank 6% for three years. At the birth of the third child, the benefit was granted for five years. A large family could take a mortgage at 6% for eight years, but this is the maximum. And then the rate went up and until the end of the loan had to pay more: the key rate of the Central Bank + 2%.
And although 6% is lower than the cost of mortgages without state support, families still did not use the program very actively. Three years later, the rate would have increased, and dependence on the Central Bank made it unpredictable. The president proposed to extend the preferential rate until the end of the mortgage. At the same time, improved conditions for the Far East. Amendments to the rules of state support will work from April 13, but retroactively.
Now it works like this.
Mortgage subsidies in 2018 - conditions by decree of Putin
The preferential mortgage program extends to Russian families in which a second and / or third child will be born on January 1, 2018. The rules of the state program were approved by Decree of the Government of the Russian Federation dated December 30, 2017 No. 1711. The budget provides funds for subsidizing credit organizations and JSC Agency for Housing Mortgage Lending.
Vladimir Putin announced the launch of a new preferential mortgage in 2018 and explained how the subsidy will work. For example, according to the Central Bank of the Russian Federation, the weighted average mortgage rate is 10.5%. If a young family with a second or third child purchases housing in a mortgage at such a rate, then the state pays a share of 4.5%. As a result, the family will pay no more than 6% per annum for the mortgage. The President emphasized that, according to preliminary estimates by the Ministry of Construction, over the next 5 years, over 500 thousand Russian families will be able to take advantage of the benefits.
A 6% mortgage is issued only for apartments in new buildings and for refinancing an existing mortgage loan. State support is valid for the purchase of an apartment from a legal entity. When transferring from an individual, taking advantage of the privilege will not work. Also, the state program does not apply to the purchase of housing in the secondary market.
Duration of the program of preferential mortgages with state support
According to the law on mortgages, the state program is designed for the period from January 1, 2018 to December 31, 2022. To support citizens, the budget provides for 600 billion rubles. State support is aimed at increasing the birth rate in the country. Only those families who plan to have a second or third child on 01/01/2018 - 12/31/2022 can apply for benefits:
- At the birth of the second child. Registration of benefits for 3 years (36 months) from the date of loan.
- At the birth of the third child. Registration of benefits for 5 years (60 months) from the date of loan.
- At birth, 2 and 3 children. Registration of privileges for 3 years, then extension of the period of subsidies for another 5 years.
After the end of the preferential program, the interest rate on the mortgage loan returns to the level of the Central Bank key rate plus 2%
Subsidy up to 35% of the cost of housing for young families
Who can get: spouses, each of whom is not older than 35 years old, or an incomplete family in which there is a child, and his parent is not more than 35 years old. You must also meet several criteria:
per person should have a housing area less than the established norm (in each region, the norm is different, for example, in Moscow - 10 meters),
the family should be registered as in need of better housing conditions,
and have enough income to buy an apartment on credit.
To participate in the program, you need to queue in the administration of the settlement at the place of residence. As a result, a young family can get:
30% of the average cost of housing (the standard value of housing is calculated for each municipality), if there are no children,
35% of the cost of housing if there is at least one child or if the family is incomplete.
It must be borne in mind that a large apartment at the expense of the state cannot be bought. The amount of the subsidy will be calculated on the basis of the standard. For families of two people - 42 square meters. m, if the family has three or more people - 60 square meters. m
Housing can be bought in a new building or in the secondary market. Money is not handed out, but transferred by bank transfer to a real estate seller.
Mortgage at a rate of up to 6% for families with two or more children
Who can apply for: families in which a second or subsequent child was born from 2018 to 2022. You can buy housing only in a new building, the exception applies to residents of the Far East: they can also buy an apartment in the secondary market.
For residents of the Far East, the loan rate cannot be higher than 5% per annum, and for all other regions - 6%.
To purchase a home you will need a down payment of 20% of the cost of housing (you can use maternity capital).The maximum loan amount is limited to 12 million ₽ in Moscow, Moscow Region, St. Petersburg and the Leningrad Region, in other regions the limit is 6 million ₽.
In order to receive a preferential mortgage, in addition to the standard set of documents, it is necessary to provide birth certificates for the children of borrowers and other documents that confirm the Russian citizenship of the children, if this is not indicated in the birth certificate.
Find a loan at a low rate
Subsidy up to 450 000 ₽ for repayment of a mortgage
Who can receive: a borrower from whom a third or subsequent child was born or adopted by him in the period from 2019 to 2022.
For a subsidy you need to contact the bank where the mortgage loan was issued. To confirm the right to benefit, you need to attach the birth certificates of children and confirmation of their Russian citizenship. The application can be considered within 16 days. If it is approved, then the money will be credited to the account within 5 business days. They can partially or fully repay a mortgage loan.
Who can apply for: military personnel participating in the funded mortgage system for at least three years. They can get a loan to buy a home - a military mortgage. While serving in the army, the state sends a certain amount to repay their loan. In 2019, it is 280 010 ₽ per year (in the future it can be increased). Such a mortgage must be paid until the borrower is 45 years old.
You can buy any housing in good condition (the house should be built no earlier than 1970). If the apartment is more expensive than the amount allocated by the state, then the rest of the funds will have to be paid independently.
Who can get: a person or a family with a second or subsequent child. In 2019, the amount of maternity capital is 453,026 ₽. This money can be spent on:
Purchase of housing, its construction, down payment on a mortgage or to repay a housing loan, including interest on it.
Payment for children's education.
Pension savings of the mother.
Social adaptation of children with disabilities.
You can get a certificate for maternity capital at the Pension Fund or through your personal account at the State Service.
Who can receive: everyone who pays personal income tax at a rate of 13%. There are two types of tax deductions for home purchases:
13% of the cost of housing, but not more than 260 thousand ₽, when buying an apartment, house or land,
13% of the interest paid on the mortgage, but not more than 390 thousand ₽.
So, each buyer of real estate (that is, everyone who has a share in it) can return up to 650,000 ₽ of taxes that had previously been paid to the state.
Who can get: any mortgage borrower if:
loan amount does not exceed 15 million ₽ (while the amount is set at this level),
a loan is issued for a single home,
earlier loan conditions at the request of the borrower did not change,
the borrower is in a difficult life situation: he has no job, he is recognized as a disabled person of the first or second group, he has temporary disability for more than two months in a row, his average monthly income has decreased by 30% or he has at least one more dependent.
Credit holidays are provided for any period at the discretion of the borrower, but not more than six months. To obtain a mortgage vacation, you need to write a statement to the bank and attach documents that prove the emergence of a difficult life situation.
Down payment under the new law
The minimum down payment for a preferential mortgage is 20% of the cost of housing. It is permitted to use maternity capital, employer funds and other government subsidies to make an initial contribution. The size of the loan and down payment depends on the region of the Russian Federation:
- The maximum amount of a mortgage loan for the regions of the Russian Federation is 3 million rubles. In this case, the down payment must be at least 600 thousand rubles.
- Young families in Moscow and the Moscow region, as well as in St. Petersburg and the Leningrad region can take a mortgage in the amount of up to 8 million rubles. With a maximum loan size, an initial installment of 1.6 million rubles is required.
What is a mortgage with state support
With the participation of the largest and most prosperous financial and credit structures of the country, the state has developed a program providing for the preferential issue of mortgages to low-income citizens who are unable to accumulate funds for loan settlements. It is not so easy to get a mortgage loan with state support, the product is characterized by many restrictions. We’ll have to collect documentation, run around the courts, but for people who are constrained in housing conditions, such support for a mortgage will be a tangible help and will help to move into a new apartment at minimal cost.
Who can take a preferential mortgage
A mortgage under 5 or 6% is not assigned to all families with children, but only if at least a second child is born. Third, fourth, fifth - state support will also be. If the child is alone and he is healthy, the benefit is not allowed. An exception is only for families with children with disabilities. They can take a mortgage at a reduced rate, even if the child is single. Another requirement is that a parent who takes a mortgage must be a citizen of the Russian Federation. Kids too.
Who is eligible for state support mortgages?
The right to receive preferential mortgages with state support in accordance with the Decree of the Government of the Russian Federation of December 30, 2017. No. 1711 only citizens of the Russian Federation have at birth from January 1, 2018 to December 31, 2022 inclusive of their second and (or) third child, who (s) also have the citizenship of the Russian Federation.
The right to state support (subsidy) on the mortgage are borrowers who meet the following criteria:
- in the period from January 1, 2018 to December 31, 2022 they will have a second and / or third child,
- A loan agreement (loan agreement) for a mortgage was executed no earlier than January 1, 2018.
State program mortgages for a young family in 2018
Russian families with one child who in 2018 (or later) plan to have a second and / or third child can apply for subsidized mortgage payments. Compensation of loan payments is designed to reduce the financial burden on young families, providing a significant reduction in monthly payments.
According to the head of the Ministry of Construction, Mikhail Me, a mortgage subsidy by Putin’s decree 2018 is provided for a period of 3 or 5 years, but there is every reason to believe that the average weighted rate on a home loan will approach the same 6% at the end of the state program. It is these indicators that are expected by 2020-2022 in accordance with existing trends.
The right to state support mortgages
|When was the second or subsequent child born||Where does family live and where do they buy an apartment||Rate for the whole loan term|
|From 01/01/2018 to 12/31/2022||Any region of Russia||6%|
|From 01/01/2019 to 12/31/2022||Far Eastern Federal District||5%|
To be eligible for a preferential mortgage at 6%:
- The apartment should be located in any region of Russia.
- The second or subsequent child must be born from 01/01/2018 to 12/31/2022.
To be eligible for a preferential mortgage at 5%:
- The apartment should be in any region of the Far Eastern Federal District.
- The second or subsequent child must be born from 01/01/2019 to 12/31/2022.
If the second child was born before 2018 and both are healthy, you cannot participate in the program. But if another one is born before 2022, you can take a preferential mortgage or refinance the one you already have.
For children with disabilities, other age requirements. Such a child could be born before 2018.The main thing is that he was born before the end of 2022, and disability can be assigned to him later.
Preferential mortgage at 6 percent per annum in 2018 - who can get
Just last week, the Russian government finally formulated the details of the preferential social mortgage, which will be introduced in 2018. Prior to this, only the main essence of the program was known, but there were no explanations for ministries and banks regarding the mechanism for financing preferential mortgages. Now the mechanisms are in place, and families have the opportunity to start applying for a new loan on preferential terms or for refinancing a loan taken earlier.
What family has the opportunity to get a preferential mortgage at 6 percent under the new law? The following conditions must be met:
- from January 1, 2018 until December 31, 2022, a second or third child must be born in the family,
- the family takes a mortgage for the purchase of an apartment in a new building (or refinances a loan taken earlier, but the apartment also had to be bought in a new house).
The essence of the program of preferential mortgages in this case is that the family for some time (more on this below) will make contributions on a mortgage loan at the rate of 6% per annum. Interest from above will be paid by the state.
For example, if a bank offers a loan at 11% per annum, then you pay 6%, and the remaining 5% will be paid by the budget.
2018 Putin Decree on Mortgages for Families with One Child
First of all, state support is aimed at improving the demographic situation in the country, so the program does not apply to young families at the birth of their first child. Families with the birth of their second and / or third child after January 1, 2018 can receive a mortgage benefit in 2018. In addition, a new decree introduces financial assistance for the birth of the first child - an average of 10,500 rubles for 18 months. This is commensurate with the salary in the regions.
Any parent can be a borrower, anyone can be a co-borrower
Nothing has changed here, but it’s worth recalling: the preferential rate is laid on the mother or father. That is, any of them can be a borrower, but the requirement for citizenship is mandatory.
It is also important that the borrower is the parent of the child, with the birth of which the right to state support appeared.
The parent of the mortgage may not be the parent of the children. For example, the husband of their mother. At the same time, he must also have citizenship, but he does not need to be a father to any of the children. Or it may not be recorded on the birth certificate, although biologically - the father. But then such a man is precisely the co-borrower, and not the borrower. He may not have children at all, but this will not deprive a woman of the right to a preferential rate. You can even take grandparents as co-borrowers, if this simplifies the approval of the application. For families with children with disabilities the same condition. A loan at 6% can be taken by both the mother and father of the child.
Will the benefit be valid for the entire period for which the loan is taken?
No, the state will not always help you with a mortgage. In the event that you have a second child, the benefit will apply three years after the start of payments or after the start of the refinancing period. If the child is the third, then state support will continue five years.
Please note that in the amount you can get the benefit in this way for eight years. It is not forbidden at all. Just an example - your second child was born on July 1, 2018, and on September 1, you issued a preferential mortgage at 6 percent. For three years, until September 1, 2021, the state will help you with the payment of interest on a mortgage loan. Then help should stop, but if at about the same time, in August-September, you have a third child, the benefit can be extended for five years already thanks to its birth. The state will subsidize the interest on the mortgage in your case until 2026.
Nevertheless, you need to understand that, since the state does not intend to subsidize your mortgage loan constantly, you need to carefully approach the choice of the bank and the terms of the loan. Even if the first 3-5 years you will not be very worried about what percentage you took a loan, then the interest payment will fall entirely on you, which you need to remember now.
Are there any restrictions on the cost of new housing
There is. The program can be used only if the housing you have taken in a mortgage costs no more than three million rubles. For Moscow, St. Petersburg, Moscow and Leningrad regions, the amount is higher - eight million rubles. This is due to the high cost of real estate in these regions.
In principle, such a restriction is quite reasonable, and for the indicated amounts, a family can purchase at least a two- or even a three-room apartment in their region.
Of course, no loans in foreign currency are allowed in this case.
How relevant is the new law on preferential mortgages
The novelty, apparently, is quite relevant. At least, according to the government. According to opinion polls and studies that have been conducted, about 620 thousand families are ready to take a mortgage on these conditions, and another 630 thousand who have already taken mortgage loans - take the opportunity to restructure it at 6 percent.
Based on these data, the Ministry of Construction calculated that the soft loan program for mortgages will cost the Russian budget 600 billion rubles. Does this mean 2018 or the entire period of the program, the Ministry of Construction did not specify.
Mortgage 6 percent at birth 2 children
State support for the payment of mortgages by decree of Putin is provided to the family for the birth of a second child after 01/01/2018 (inclusive). If the birth certificate of 2 children in the family indicates the date of January 1, 2018 or later, then a family with two children can pay at a special reduced rate of 6% for 3 years. The rest of the monthly payments is subsidized by the state.
What kind of housing can I buy under the state support program
Preferential mortgages in all regions are given only for primary housing, as before. But there were special conditions for the Far East.
General conditions for all regions. The rate will be reduced only for such housing:
- New building on the remote control. That is, the house has not yet been commissioned.
- Finished apartment or house with a plot under the contract of sale.
- The seller is a legal entity, except for investment funds.
If the apartment is in the secondary market, that is, it used to belong to an individual, then even at the birth of a second or third child, the rate will not be reduced. There are no exceptions for disabled children.
Special conditions for the Far East. In the Far Eastern Federal District with state support, you can buy not only a new building or primary housing, but also real estate in the secondary market. The main thing is that she is in a rural settlement. That is, a family with children can take a mortgage at 5% in the village of any of 11 regions in the Far East. This house can be sold to them by the previous owner, even an individual. In the Moscow region, near Bryansk or in Chernozemye it is impossible to buy a finished house from an individual under this program.
When should a housing contract be concluded
General conditions have not changed. For all regions of Russia, an equity or sale contract, under which a mortgage is granted, must be concluded from January 1, 2018 to December 31, 2022.
In order to receive state support on special conditions for the Far East, the contract must be drawn up from January 1, 2019 to December 31, 2022. This will affect the reduced rate and the purchase of a home in the secondary market. But you can get state support for earlier agreements on the same conditions as in all regions: at 6% for primary housing.
If the child was born from July 1, 2022 to December 31, 2022, an apartment can be bought before March 1, 2023. For this, the period of birth of the child is not extended, only for the purchase of an apartment.
If the family has a disabled child and he received a disability after 2022, the contract can be concluded before the end of 2027.
Preferential rate - for the entire loan term
The main change in the program is that the preferential rate is no longer limited to three or five years, depending on what kind of child is in the account. A family with children will pay the bank 5 or 6% until the end of the mortgage.
For example, in a family from Bryansk in 2019, a second child was born. The right to maternity capital appeared. The family spent it on a down payment on a mortgage and took a two-room apartment for 2 million rubles. Credit - 1.5 million for 15 years. The usual rate for reliable borrowers is 10.5%. A monthly payment would be 16,700 rubles.
On a mortgage with state support, the family will pay the bank 6% for all 15 years. That is, the monthly payment will be 12,600 rubles. Thanks to state support, a family will save almost 50 thousand a year, and in 15 years it will save 738 thousand rubles. And earlier, in three years it would have saved only 150 thousand.
What if the mortgage interest in Russia decreases?
Indeed, in the last couple of years, there has been a decrease in mortgage rates. So, in 2017, for the first time in history, the cost of mortgages fell on average in the country to below 10%. Against the backdrop of record low inflation and a constant decrease in the Central Bank by the key rate (and the interest on any loans depend directly on it), it is reasonable to expect that with this trend continuing, standard mortgage rates at the same 6 percent in the coming years.
Minstroy himself believes that such a situation may arise just in time for 2022, and after that the need for subsidizing loans for young families will disappear on its own.
At the same time, independent analysts believe that mortgage rates of 6 percent can expect us much earlier.
It is obvious that if, after two or three years, mortgage interest in Russia drops for everyone to six percent, the government will think about making the preferential percentage for families with children even lower. However, it’s too early to talk about this yet. At the beginning of 2018, the average mortgage rate is slightly lower than 10 percent, and a 6 percent loan is a pretty good option.
Mortgage for a large family in 2018 - state program
The subsidy is provided to Russian families at the birth of 3 children from 01/01/2018 to 12/31/2022 for a period of 5 years. The new law provides for the extension of the period of benefits if during the period of the state program in the family there are both a second and a third child. In this case, state support for a period of 5 years is added to the standard grace period of 3 years from the date the loan was issued.
After the direct line of 2018, the president instructed to include large families with 4 or more children in the program of subsidizing mortgages. The changes affected loans issued by credit organizations of Russia and Dom.RF JSC for the construction or purchase of housing, and for refinancing previously issued loans.
Mortgage for a young family without children
The new state program does not involve subsidizing childless families. Nevertheless, citizens can also count on reducing the financial burden on the family budget if they decide to have a first child. In this case, the family will receive an average of 10,500 rubles for a year and a half. If during the term of the state program the family decides to have 2 children, then it will be possible to receive compensation for the mortgage for 3 years.
Mortgage rate reduction in 2018 - how, when and to whom they give it
The state program cannot cover all expenses of young families, therefore, for the preferential mortgage in 2018, certain restrictions apply to Putin’s decree. Different total compensation amounts are set depending on the region. To receive state support, young families can go to the bank participating in the state program, or to the Agency for Housing Mortgage Lending.
What are the features of mortgages with state support?
State support programs for mortgages imply partial financing of loans, that is, borrowers will not pay any part of the loan. Various programs offer the population either a reduced interest rate or a down payment on debt. According to the preference, housing can be purchased both in the primary and secondary real estate markets.
In 2018, programs are available to a wide range of people, which includes large families, military, young sections of society, etc.
Programs with state support in 2018 are aimed at increasing the well-being of the population, namely:
- Good, comfortable housing is becoming available to the poor.
- Assistance to construction organizations in obtaining large-scale projects for the construction of new multi-apartment residential buildings on preferential terms. Thanks to which new jobs are being created.
- The movement of cash flows in the banking sector is increasing, which leads to the availability of mortgage lending for citizens with low wages.
Terms of state support for the mortgage of families with children
In accordance with paragraph 5 and paragraph 6 of the Decree of the Government of the Russian Federation of December 30, 2017. No. 1711 the state grant for a registered mortgage is valid for large families of borrowers for:
- 3 years - at birth during the period from January 1, 2018 to December 31, 2022, the second child,
- 5 years - at birth during the period from January 1, 2018 to December 31, 2022 the third child,
- 8 years * - at the birth of two children during a certain period of the benefit period, namely, if a third child is born during the three-year period of the preferential mortgage program for a family with two children, then the preferential rate will be extended for another 5 years.
* Subsidies of 8 years are made up of the following periods of crediting preferential mortgages:
- If the borrower, from 01.01.2018 to 12.31.2022, was granted a subsidy for 3 years in connection with the birth of a second child, then at birth during this period also a third child - the period of granting a subsidy for a third child is extended by 5 years from the end of the period for the provision of a subsidy in connection with the birth of a second child. The beginning of the execution of the second period of the subsidy is shifted to the date following the end date of the first period.
- If a borrower who has already completed receiving a subsidy for 3 years in connection with the birth of a second child, and who then, no later than December 31, 2022, has a third child, then the grant will be renewed for 5 years from the date of birth of the third child. Between the first and second periods of the subsidy, a time interval may occur.
Interest rate discount amounts
You can apply for a mortgage at any bank that participates in the state program for subsidizing mortgages in accordance with a decree of the President of the Russian Federation. Regardless of the base rate set by the bank, you can pay a mortgage at a reduced rate of 6%. The rest of the payment (on average 4-4.5%) is paid from the federal budget.
For the birth of a second and third child, the family is allowed to refinance the current balance of the mortgage loan and continue to pay the mortgage at a reduced rate of 6% per annum.
What is the essence
The government, using the assets of the Pension Fund, is engaged in partial financing of mortgage loans. For borrowers, this means that they do not have to pay the full amount on the loan - different programs provide either a sharp reduction in the interest rate on the mortgage, or the introduction of the original amount. Depending on the category of persons in need of housing, housing loan preferences may amount to significant amounts. It is possible to purchase housing in the primary market from developers, it is not profitable to buy apartments in the secondary market.
Previously, state stimulation of the purchase of apartments was carried out for a strictly limited contingent of citizens - young families with many children, who confirmed their right to improve housing conditions, then a mortgage with state support in 2018 can be provided to a wide circle of people.
What programs with state support are presented in 2018?
All programs with state support have one goal - to help people with insufficient money to buy an expensive apartment by concluding favorable conditions with banking organizations under which a certain amount will be repaid at the expense of the state.
Today, there are 3 ways to mitigate the conditions of a mortgage loan:
- The mortgage rate is reduced. Such a privilege is provided only by some banks and in order to take advantage of it, clients must prove their rights.
- A cash benefit is issued to a citizen for making an initial payment. Here, the potential borrower must prove his creditworthiness in the future, that is, show the ability of the financial institution to repay the debt.
- Citizens are offered to purchase a residential object from the social state fund at a price lower than the market.
In 2018, programs with state support are oriented to certain segments of the population and are represented by the following projects:
- help for young families,
- military support,
- social mortgage loan
- mortgage issued to scientists and educators,
- assistance to families belonging to the category of large families,
- application of maternity capital.
State aid for young families
The privilege is granted to families in which both spouses are not yet 35 years old. According to the official certificate, the family must also be registered with the authorities of the local municipality and be in need of housing. The amount of monetary compensation is affected by the presence of a pair of young children. If there are children in the family, then the amount of compensation reaches 40% of the price of housing, if there are no children, then the size is reduced to 35%. Young people can spend the received funds both on making an initial contribution, and on paying off debt in the future.
State support for the military
A mortgage with state support for the military involves receiving a sum of money in a personal account. In this case, the soldier must serve under the contract from January 1, 2015. The ability to use money comes after a certain amount of time, on average this period is 3 years.
In order for an employee to qualify for financial assistance, he needs to prove that his family needs better housing conditions. To do this, he provides the authorized bodies with data on the composition of the family and square meters per each member of the family.
An important condition for granting a mortgage with state support is the repayment of the entire loan until the onset of 45 years. Police can also take advantage of this benefit, but they need to work 10 years at the duty station.
Issuing a social mortgage loan
The main difference between this option of helping the population is that in 2018 all citizens of the Russian Federation can use a social mortgage, who can prove their need for improving housing conditions. In this option, government support can be expressed in three ways:
- Citizens are provided with apartments from a social fund, the cost of which is 1.5 times lower compared to the market, and installments are also allowed.
- Benefits for making a down payment.
- Preferential interest rates.
To receive this type of state support, citizens must purchase apartments from those companies that are represented in the list of development partners. In addition, the borrower will have to:
- prove your solvency,
- provide guarantors,
- receive official salaries at the bank specified in the program conditions,
- at least 10% of the price of the purchased apartment should be kept on the account.
Mortgage with state support issued to scientists and teachers
The Government, together with the Central Bank, in their desire to stimulate science, provide young scientists and teachers with preferential terms for obtaining a mortgage. According to the program, applicants cannot be older than 35 years (in the case of a doctoral degree not older than 40 years). At the same time, a person should be registered as officially needing housing and stand in line for housing under a preferential program.
A program participant receives a certificate that can be made as a down payment or be spent to pay the main body of the loan and interest on it.
State program for families belonging to the category of large families
Mortgages with state support for large families have reduced interest rates and are short-term in nature. Families with 2 children can take advantage of the privilege, while one should be born between 2018 and 2020, as well as families with three babies, among which there is one born from 2018 to 2023.
Mortgage with state support - terms and conditions:
- the project is designed for 5 years from January 1, 2018,
- the interest rate is not higher than 6%, while the state pays about 4% per annum,
- issued for the purchase of an apartment in the primary housing market, as well as for refinancing existing loans.
Application of maternity capital
Maternity capital is given to families in which a second child is born and its size in 2018 is 453 thousand rubles. Parents can spend preferential money on making a down payment on a mortgage, as well as to pay off debt.
Interest rates on preferential mortgages with state support (amount of subsidies).
State assistance to families with two and three children consists in setting a fixed interest rate for the borrower, the size and timing of subsidizing to banks part of the interest rate on mortgages.
In accordance with paragraph 4 of the Decree of the Government of the Russian Federation of December 30, 2017. No. 1711 state subsidies are submitted:
- in the amount of the difference between the size of the key rate of the Central Bank of the Russian Federation on the 1st day of the calendar month for which the subsidy (hereinafter referred to as the settlement period) is increased by 2 percentage points and the interest rate established in accordance with the loan agreement (loan agreement) in 6 percent per annum (subject to the conclusion by the borrower of personal insurance contracts (life insurance, accident and illness insurance) and insurance of premises after registration of ownership of such premises). Moreover, the interest rate of 6 percent per annum is set for the period specified in paragraph 5 of the Rules to the Resolution.
I will give a calculation of the size of the subsidy to the bank, based on paragraph 4 of the Decree of the Government of the Russian Federation for January 2018. From January 1, 2018 to January 31, 2018, the key rate was set at 7.75%.
Subsidy to the Bank in the 1st period = Key rate + 2 p. - 6% = 7.75% + 2 - 6 = 3.75%
Subsidy to the Bank in the 2nd period = 0
Now about the interest rate that banks should lay in the loan agreement for the mortgage borrower:
- 6% - within 3 years at birth in the period from January 1, 2018 to December 31, 2022 of the second child,
- 6% - within 5 years at birth in the period from January 1, 2018 to December 31, 2022 of the third child,
- 6% - within 8 years at the birth of two children in a certain period of the benefit period, namely, if a third child is born in the three-year period of the preferential mortgage program for a family with two children.
- Key rate + 2 p. - for the rest of the loan period of the borrower.
Goals and objectives of subsidizing
State support for mortgages in 2018 pursues several good goals that theoretically contribute to increasing the well-being of citizens:
- Helps construction companies to receive large orders for the construction of new buildings on favorable terms. This approach provides thousands of jobs, reducing the severity of the unemployment problem in the capital and the province.
- It allows poor vulnerable groups to use good, convenient, comfortable housing with all amenities, provides conditions for the normal development and upbringing of mortgage children, and increases the living standards of socially vulnerable people.
- Stimulates cash flows in the banking sector, making mortgages available to different categories of Russians, including low official salaries.
Under what conditions is a mortgage issued with state support 2018?
Mortgages with state support require compliance with a number of conditions:
- Acquired housing refers to the primary market.
- The developer company has state accreditation, that is, the company must pass an audit on the transparency of operations, obtain accreditation of a banking institution and formally enter the preferential distribution of apartments.
- Borrowers have funds to make an initial contribution of at least 20% of the cost of housing. The funds must be stored in the bank account, which issues a mortgage under the state program 2018.
- Interest - for participants in the long-term state mortgage program no higher than 12 per annum, for young families - 6%. On average, the rate varies from 8 to 11% per annum for state programs.
- Currency - only Russian rubles.
- The presence of mandatory property insurance. At the same time, insurance and evaluation of the acquired property should be carried out by accredited insurance companies.
- According to the state program, each family member can claim 32 sq.m. living space. If the family has 2 people, then the area for them will be 48 sq.m., for a large family, the calculation is based on 18 sq.m. for one person.
Not only families with children, military personnel, young specialists, but also any citizen of the Russian Federation can purchase housing under a special mortgage lending program. The main condition is the need to improve housing conditions and increase square meters.
There are several state mortgage programs in Russia. We will tell you more about them and indicate how to quickly and correctly arrange a mortgage.
Credit terms for preferential mortgages with state support
In accordance with paragraph 10 of the Decree of the Government of the Russian Federation of December 30, 2017. No. 1711, when concluding loan agreements for preferential mortgages with state support for families with children, the following loan conditions apply:
- The lending currency is the Russian Ruble.
- The date of conclusion of the loan agreement (loan agreement) is not earlier than January 1, 2018, i.e. The exemption does not apply to loans issued by the borrower earlier than this date.
- The amount of the loan (loan) - up to 3 million rubles inclusive (for residential premises located in the territories of the constituent entities of the Russian Federation, with the exception of Moscow, Moscow Region, St. Petersburg and the Leningrad Region).
- The amount of the loan (loan) - up to 8 million rubles inclusive (for residential premises located in the territories of Moscow, Moscow Region, St. Petersburg and the Leningrad Region).
- Borrowing of borrower's own funds - At least 20 percent of the cost of housing is paid at the expense of the client’s own funds.The client’s own funds include - funds accumulated at the expense of revenues, including those received from the federal budget, received from the budgets of the constituent entities of the Russian Federation, local budgets, or funds received from the organization - the employer of the borrower.
- Obligatory conclusion by the borrower of personal insurance contracts (life insurance, accident and illness insurance) and residential insurance (after registration of ownership of such residential premises)
The remaining lending conditions are set by banks at their discretion. So, for example, a loan term can be from 3 to 25 years (DeltaCredit Bank) or from 12 months to 30 years (Sberbank of Russia), and the age of the borrower at the time of the loan is not less than 21 years (Sberbank of Russia) or reached 18 years (!! AK BARS Bank).
Preferential Mortgage Forms
In fact, all mortgage products with state support help people who have little money to get an apartment at a high price by concluding a mortgage subsidy agreement with the bank. A certain amount stipulated by the program is paid by the state for the borrower. There are several ways to mitigate credit conditions:
- Interest rate reduction for borrowed money. A preferential mortgage is provided by a limited number of banks, and you can take advantage of it by proving your authority. Banks do not give discounts to all applicants, mitigating mortgage conditions by lowering the interest rate, but many Russians have already taken advantage of preferential products that include state support.
- Issuance of a cash tranche for the down payment on a mortgage. This type of subsidization is subject to a large number of conditions, one of which is the mandatory confirmation of the borrower's further solvency.
- Offer to purchase housing from a special state social fund at a reduced cost.
Forms of state subsidizing mortgages in 2018 for poor and socially vulnerable citizens
Mortgage programs operating from the state, and not from private companies, are designed for citizens who have a small income and need to purchase housing.
A participant in any state mortgage program can get a loan from a banking organization, but he will pay the costs together with the state.
There are several forms of social subsidizing.
Who is entitled to a mortgage at 6 percent
Since 2018, according to Putin’s decree, a mortgage has been granted to all adult citizens of the Russian Federation, who will become the parents of a second or third child during the term of the state program on 01/01/2018 - 12/31/2022. The state program of preferential mortgage lending applies to both the birth and adoption of a child. The mortgage subsidy is valid in all regions of the Russian Federation when purchasing housing in the primary market on the following conditions:
- Purchase of housing under construction (under contract 214-FZ),
- Assignment of claim rights under the DDU,
- Purchase of a finished apartment or house from a legal entity prior to the contract of sale.
Mortgage subsidies do not apply to the purchase of apartments from investment funds and management companies.
Mortgage programs with state support
Constantly changing conditions of state support for mortgages are forcing citizens to monitor the latest news on housing subsidies, which serve as indicators of changes in the country's domestic economic policy. State support of mortgages in 2018 is carried out for certain segments of the population, you can choose the most acceptable product, focusing on program restrictions and your life circumstances. There are the following projects:
- purchase of housing for a young family,
- subsidies issued by military personnel
- social mortgage
- loans to teachers, young scientists,
- for families with a lot of children,
- use of maternal capital.
Is it possible to use maternity capital for concessional lending to families with two children?
Of course you can.Maternity capital can be used for concessional lending to families with two children (to pay the down payment when receiving a loan, repaying the main debt and paying interest on the loan). The soft loan program is not directly related to the maternity capital program, but both programs do not contradict each other and have no restrictions on sharing.
The right to participate in the state program of maternity capital was extended until December 31, 2021, i.e. the right to maternity capital arises at the birth or adoption of a second child until December 31, 2021, and the funds for the certificate received are sent in accordance with Decree of the Government of the Russian Federation dated December 12, 2007 N 862.
That's how the use of maternity capital is stated in paragraph 3 of the Appendix to the Decree of the Government of the Russian Federation of December 12, 2007 N 862 "On the Rules for channeling funds (part of funds) of maternal (family) capital to improve housing conditions":
“Clause 3 In the case of a loan (loan), including a mortgage, for a person who has received a certificate, or a spouse of a person who has received a certificate, for the purchase or construction of housing or a loan (loan), including a mortgage, for repayment of a previously granted loan (loan) for the purchase or construction of housing funds (part of the funds) of maternal (family) capital can be directed to:
a) payment of the down payment upon receipt of a loan (loan), including a mortgage, for the purchase or construction of housing,
b) repayment of the main debt and payment of interest on the loan (loan), including mortgage, for the purchase or construction of housing (excluding fines, commissions, penalties for late payment of obligations under the specified loan (loan)), including the loan ( a loan), the obligation of which a person has received a certificate before the right to receive funds of maternal (family) capital,
c) repayment of the main debt and payment of interest on the loan (loan), including mortgage, to repay the previously granted loan (loan) for the purchase or construction of housing (excluding fines, commissions, penalties for late payment of obligations on the specified loan (loan) ), the obligations for which a person has received a certificate before the right to receive funds of maternal (family) capital. ”
Based on the foregoing, we can conclude that maternity capital can be used:
- To replenish the borrower's own funds for the down payment, which for a preferential mortgage is from 20% of the cost of housing - until December 31, 2022
- For repayment of the main debt and payment of interest on the loan (loan) - during the entire lending period.
In 2018, the amount of maternity capital is 453 thousand rubles.
We list how the state provides support:
- The loan will reduce the interest rate. For example, such a program is valid for large families. The state pays part of the interest on the loan.
- The state will pay part of the principal loan amount.
- The subsidy will apply only to housing from the social fund. The Russian will be provided with installments, without interest.
A certain form has its advantages and disadvantages. Programs can be designed for different categories of the population - for example, state employees, young or large families, low-income citizens.
You can participate in the program. only once - that is, housing will be available only once.
State mortgage programs help improve the lives of Russians, as well as stimulate the construction of comfortable social housing.
Requirements for the contract and the borrower
To get a preferential mortgage by Putin’s decree, a young family needs to contact the Mortgage Lending Agency or a bank participating in the state program.A certificate of birth of a child must be attached to a standard package of mortgage documents. To receive a subsidy, it is necessary that the mortgage agreement meets the following requirements:
- The loan agreement was concluded in rubles on January 1, 2018 or later (this does not apply to loan refinancing).
- The total loan amount is 3 million for the regions and 8 million for Moscow and Moscow Region, St. Petersburg and the Leningrad Region.
- The borrower pays a down payment of at least 20% of the cost of housing using his own funds or using state subsidies.
- Be sure to conclude life insurance contracts and insurance of the subject of pledge.
- The privilege is valid only for timely payment of mortgage payments.
- Form of payment - Annuity only.
A preference presents a certificate issued to persons legally married, each of whom has not reached the age of 35. Official paper suggests that the young family is registered with the municipal authorities as needing an apartment. The amount of monetary compensation depends on the availability of minor dependents of the applicants. If there are children, then compensation can reach up to 40% of the price of the apartment, if young people are childless, they are reimbursed up to 35% of the price of the house. Funds can be used for down payment or further repayment of the loan.
Banks involved in issuing preferential mortgages
The Ministry of Finance of Russia has satisfied the applications of the Agency for Housing Mortgage Lending (AHML) and 46 banks that will be able to participate in the program of subsidizing mortgage rates for families with children. The total limit of program funds allocated for the issuance (acquisition) of loans (loans) is 600 billion rubles.
By order of the Ministry of Finance of the Russian Federation dated February 19, 2018 No. 88, this limit of funds was allocated, which will be provided to banks in the form of subsidies under the program:
|№№||Name of company||The limit of funds allocated for the issuance (acquisition) of loans (loans), million rubles|
|1||Sberbank of Russia PJSC||171 205|
|2||VTB Bank (PJSC)||106 726|
|3||Joint-Stock Commercial Bank “Absolut Bank”|
|4||Joint-Stock Commercial Bank "RUSSIAN CAPITAL" (PJSC)||22 840|
|5||Gazprombank (JSC)||22 006|
|6||JSC "Agricultural Bank"||20 145|
|7||PJSC "Promsvyazbank"||14 835|
|8||PJSC Bank "Otkritie Financial Corporation"||14 578|
|9||MOSCOW CREDIT BANK (PJSC)||13 261|
|10||JSC Raiffeisenbank||12 807|
|11||PJSC Bank Vozrozhdenie||12 135|
|12||JSC "Joint-Stock Bank" RUSSIA "||9 285|
|13||PJSC Sovcombank||8 538|
|14||JSC Commercial Bank DeltaCredit||8 062|
|15||PJSC TRANSKAPITALBANK||7 628|
|16||Joint-Stock Commercial Bank AK BARS (PJSC)||6 980|
|17||Joint-Stock Commercial Bank “INVESTMENT TRADE BANK” |
|18||PJSC West Siberian Commercial Bank||4 937|
|19||PJSC BANK URALSIB||4 717|
|20||PJSC Commercial Bank Center-Invest||4 669|
|21||UniCredit Bank JSC||4 269|
|22||JSC "KOSHELEV-BANK"||3 202|
|23||JOINT-STOCK COMMERCIAL BANK “METALLURGICAL |
INVESTMENT BANK "(PJSC)
|24||JSC Bank of Conversion "Snezhinsky"||3 202|
|25||Commercial Bank "Kuban Credit" LLC||3 202|
|26||Prio-Vneshtorgbank (PJSC)||3 202|
|27||RUSSIAN NATIONAL COMMERCIAL BANK (PJSC)||3 202|
|28||JSC Bank Northern Sea Route||3 202|
|29||JOINT-STOCK COMMERCIAL BANK ACTIVE BANK (PJSC)||3 202|
|30||TATARSTAN SOCIAL DEVELOPMENT BANK TATSOTSBANK JSC||3 202|
|31||Joint-Stock Commercial Bank RosEvroBank (JSC)||3 148|
|32||Orenburg Mortgage Commercial Bank Rus (LLC)||3 148|
|33||Bank ZENIT (PJSC)||3 148|
|34||LLC Bank "Avers"||3 148|
|35||PJSC Kursk Industrial Bank||3 148|
|36||PJSC "BANK" SAINT-PETERSBURG"||3 148|
|37||PJSC "NEW INVESTMENT AND COMMERCIAL ORENBURG |
INDUSTRIAL DEVELOPMENT BANK »
|38||PJSC "Far Eastern Bank"||3 095|
|39||JSC “Surgutneftegasbank”||3 095|
|40||PAO Commercial Bank|
Ural financial house
|41||PJSC "SEVERGAZBANK"||3 095|
|42||PJSC "BINBANK"||3 095|
|43||PJSC Moscow Industrial Bank||3 095|
|44||Joint-Stock Commercial Bank "Energobank" (PJSC)||2 988|
|45||PJSC Bank Kuznetsk||2 988|
|46||All-Russian Regional Development Bank JSC||2 988|
|47||Agency for Housing Mortgage Lending||320|
On the day of publication of the material, the following banks announced the start of issuing preferential mortgages for citizens with children through the media:
- Sberbank of Russia
- Russian Agricultural Bank
- AK BARS Bank
- Bank "DeltaCredit"
- ZENIT Bank
- Credit Bank of Moscow .
The latest changes to the material were made on March 14, 2018.
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5 existing mortgage programs with state support for 2018
We will consider what programs will operate in 2018 and determine their main conditions for the provision and execution.
Terms of Service
The program "Young Family" for 2018-2020
Families can become its participants:
1. Officially registered your marriage with the registry office.
2. Where the age of both spouses does not cross the 35-year line.
3. Standing in line with the administration for improving housing conditions.
The state helps repay loans in different sizes:
- 35% of the total cost of housing - for families without children.
- 40% - for families with children.
- In addition, at the birth or adoption of a child, spouses may request 5%.
Often, funds are provided to pay the down payment.
Families can participate in the program:
1. Confirmed your marriage through the registry office.
2. In which a second or third child is born between the beginning of 2018 and the end of 2022.
3. Which can make a down payment of 20% of the cost of housing.
The age of the spouses does not matter.
A mortgage loan is issued at a rate of 6% per annum in Russian currency.
The maximum loan amount for Moscow and Moscow Region, as well as St. Petersburg and the Leningrad Region is 8 million rubles, for the rest of the Russian regions - 3 million rubles.
Mortgage for military personnel
1. Participation in the Cumulative mortgage system of housing for military personnel (NIS).
2. The availability of funds for making an initial contribution of 20%.
3. Defined service life.
Who can take part:
- Officers. The contract must be concluded no earlier than January 1, 2005.
- Ordinary. They had to issue a second contract after this date.
- Warrant officers and warrant officers who have on their account a service life of at least 3 years.
The interest rate cannot be higher than 12.5% per annum.
The maximum loan amount should not exceed 2.4 million rubles.
Payment term - no more than 25 years.
Social Mortgage Program
Important conditions for participation:
1. The age of each spouse in the family cannot be more than 30 years.
2. The family should be recognized as needing better housing conditions.
3. A young family must have sufficient funds to pay the cost of housing in the part that exceeds the amount of the subsidy provided, or the family must have sufficient monthly earnings to pay off the mortgage.
An important role here is played by official employment.
The program is implemented in three ways:
- Housing is provided from the municipality or socially. Apartments from the social fund are purchased at a cost of 1.5-2.5 below market.
- The interest rate is reduced due to the budget.
- Subsidizing down payment.
Mortgage program for young professionals
Citizens can participate:
- Received special vocational education.
- Having worked at a certain place of work for at least three years and not reached 30 years.
The budget pays 20% of the total cost of housing at a time.
The specialist must pay immediately at registration 10% of the total amount.
The interest rate may not exceed 10.5%.
Note that cash funds received under the maternity capital program can be deposited into the account as an initial contribution. This program can be combined with a mortgage program.
Tip:Additional conditions for participants may be put forward by banking organizations. You should find out whether it will be possible to contribute maternity capital, or whether to repay the loan ahead of schedule.
Refinancing an existing mortgage under the new state program
In addition to applying for a new mortgage, citizens can get refinancing for an existing mortgage loan.It is necessary that the current loan be issued before 01/01/2018. In this case, the mortgage must be issued for the purchase of residential premises in new houses or for the purchase of construction or residential premises with a land plot. For refinancing, the amount of credit funds cannot be more than 80% of the cost of housing. If the mortgage meets all these conditions, then you can refinance and receive a subsidy and state support according to Putin’s decree.
Mortgage interest rate from 2018
Regardless of the established mortgage rates at banks, participants in the state program of preferential housing loans, by decree of Vladimir Putin, will pay a rate of 6% per annum. The benefit is valid for 3 years at the birth of the second child and for 5 years at the birth of the third child in the family. If during the period of the program 2018-2022 the second and third children appear in the family, then you can count on preferential payments for 8 years. Throughout this period, citizens will receive a subsidy and pay for a mortgage at a rate of 6%.
The main difference between a mortgage project with state support in 2018 and previous software products is that any Russian can get preferential loans for an apartment if he proves that he needs urgent improvement of his living environment and satisfies the conditions of a bank participating in a social assistance program for those in need of housing. There are three options for implementing state support:
- providing a citizen with apartments of social funds with a price one and a half times lower than the market, by installments,
- Subsidies for making an initial contribution,
- preferential interest rate for using borrowed money.
Not all banking organizations organize the issuance of borrowed funds on preferential terms. To receive state aid, you will have to fulfill many claims - to purchase an apartment from the listed building partners, to have confirmation of potential solvency, to attract co-borrowers, to receive a salary in the specified bank, to have at least 10% of the price of the apartment on your account.
General conditions for obtaining a mortgage and housing are as follows:
- Only a citizen of the Russian Federation will be able to participate in the program, one spouse should act from the family.
- The citizen must prepare the entry fee - he will have to pay an initial fee of 20% of the total loan amount. This condition does not apply to young professionals.
- The interest rate per year is 12%. They do not give loans at a lower percentage, but under the new legislation for the large families 6% will be paid by the state. And the remaining 6% are themselves.
- The loan is issued in Russian currency - rubles.
- A loan can be extended for 30 years, not more.
- The property must be insured.
- Funds allocated from the state budget will be spent only on the primary real estate market. That is, it will be possible to purchase housing only in a new, newly created facility that is not yet in operation. The exception is military personnel.
- Issued housing on a mortgage will have to comply with the area requirements. One citizen is entitled - 32 sq.m., for two - 48 sq.m. And if the family has children, then 18 sq.m. are added to these indicators. for each member of the family. If the family wanted to get more square meters, then they will be able to get them, but they will be paid separately and independently.
- A citizen participating in the program must prove his right to participate in documentation.
- Another important requirement is official employment. It is not spelled out in some programs, but most often the state meets those citizens who are officially employed and have at least some income reflected on paper.
Other requirements will concern a specific program that the Russian will choose.
We recommend that you initially look through all the papers, read all the conditions - and only then take housing in a mortgage from the state.
If in doubt, you can check the documents with a lawyer. Provide him with copies or the original of the contract. The lawyer can also apply for participation in the program.
For young scientists and educators
Wanting to stimulate talented young people to do science, the government and the Central Bank are engaged in state support of scientists, teachers, organizing the issuance of soft loans. The applicant should not be over 35 years old, but if he is a doctor of sciences, then age restrictions are put off by 5 years, until a person reaches 40 years old. Applicants must officially need an apartment, be registered with municipal authorities as waiting lists for preferential programs.
Finances are issued in the form of a certificate that can be given to the bank as an initial pledge of the value of the apartment or used to repay the body of the loan and interest. Young teachers who work in schools and universities who have not reached the age of 35 can apply for preferential housing co-financing. A loan to teachers is given at a low interest rate of 8.5% per annum, with a lump sum payment of up to 1/5 of the apartment price with budget money, while the borrower will immediately pay 10% of the cost of housing.
Where and in which bank can I arrange?
The preferential interest rate is available at banks participating in the state program, as well as at the Agency for Housing Mortgage Lending. In addition, mortgage restructuring is available at the same financial institutions. The current conditions for obtaining a mortgage in Russian banks are shown in the table:
|Bank||Rate,%||PV,%||Experience, years||Age years||Note|
|Absolut Bank||10.9||15||3||21-65||FB + 0.5%|
|AK Bars||11||10||3||18-70||0.3% discount if PV 20-30%, over 30% 0.6% discount|
|Alfa Bank||11.75||15||6||20-64||4% commission - 1.5% discount works on delta|
|Bank "Saint-Petersburg||12||15||4||18-70||0.5% discount for salaries and with a closed mortgage in the bank, -1% after entering the house|
|Bank Center-Invest||10||10||6||18-65||from 5-10 year, the rate is 12% further the Mosprime rate index (6M) as of October 1 of the previous year + 3.75% per annum|
|VTB 24 and Bank of Moscow||9.45||15||3||21-65||9.2% if the apartment is more than 65 sq.m., salaries PV 10%,|
|Gazprombank||9.5||20||6||21-65||10% PV for gas workers, 15% PV for large partners|
|Globex Bank||11.8||20||4||18-65||0.3% discount for salaries|
|Deltacredit||12||15||2||20-65||FB 20% PV, 1.5% discount if 4% commission,|
|Eurasian Bank||11.75||15||1||21-65||4% commission - 1.5% discount works on delta|
|Zapsibkombank||10.99||15||6||21-65||0.5% discount for salaries|
|Moscow credit bank||12||10||6||18-65|
|Promsvyazbank||10.9||15||4||21-65||10% PV for key partners|
|Raiffeisenbank||9.99||15||3||21-65||10% PV for salaries, a discount of 0.59-0.49 for certain developers|
|Russian Agricultural Bank||9.45||20||6||21-65||maternal capital without PV the rate does not change, a discount of 0.25 if more than 3 million, another 0.25 discount if through partners|
|Russian capital||11.75||15||3||21-65||0.5% discount for customers through bank partners, a 0.5% discount with a PV of 50%|
|Sberbank||10||15||6||21-75||9.9 for electronic registration of a transaction, |
-0.5% if Sber’s paycheck,
7.4% -8% if subsidized by the developer
|SMP Bank||11.9||15||6||21-65||a 0.2% discount for a 40% PV or more, a 0.5% discount for a privileged customer category, a rate of 10.9 - 11.4% for quick entry to a transaction|
|Transcapitalbank||9,2%||20||3||21-75||you can reduce the rate by 1.5% for 4.5% of the commission, after entering the house the rate is reduced by 1%|
|Uralsib||10.4||10||3||18-65||0.5% higher if the form of the bank is 20% PV, the discount is 0.41% with the PV 30% and higher|
|FC Discovery||10||15||3||18-65||0.25 plus if fb, 0.25% discount for corporate clients, reduction of 0.3% if you pay a fee of 2.5%, 10% PV if salary, 20% PV on FB|
- Personal documents. This includes copies of passports, copies of birth certificates, a certificate of family composition, an extract from the home book.
- Documents on work and income. You can request a certificate from the place of work that confirms your official earnings. For informal work, you can take an extract from the bank, where the receipts, transactions on the card or your account will be displayed. Also make a copy of the work book.
- Documents on the availability of property. If you own any property, you should make an extract from the USRN.
- Documents reflecting the current housing situation where you live. For example, supporting documentation, if checks were carried out by regulatory authorities, for example, sanitary epidemiological stations, fire departments, etc.
Other papers may be needed. Their number depends on the conditions of the institution issuing the mortgage.
How to get a preferential mortgage with state support?
The procedure for obtaining benefits is made as simple and transparent as possible for new borrowers. To take advantage of the state mortgage program by decree of the President of the Russian Federation, you must:
- Get a standard mortgage at the bank.
- After the birth of a child, provide the bank with a list of documents for registration of benefits.
- Pay regular mortgage payments at a reduced rate of 6%.
- The bank receives compensation from the budget without any additional action on the part of the borrower.
Step 2. Selection of a banking organization
All financial calculations will be carried out by a banking organization.
You should choose a bank based on all the conditions of the loan and other important nuances - for example, down payment, interest rate.
You can choose a credit company yourself - or entrust this matter to a lawyer. He will consider all relevant proposals and tell you about them, and then together you will decide which program is better.
In the case of self-selection, be sure to read all the conditions - not only those that are prescribed in the contract.
To a large family
The government is committed to improving the demographic situation, stimulating fertility and purchasing power. Since most of the needing mortgages have one child or several, the state is introducing a short-term perspective program that gives a significant discount on interest mortgage rates. It can be used by families with 2 children, one of whom was born in the period 2018-2020, or with three, one of which was born between 2018-2023. The conditions of the social project are:
- designed for 5 years, starting from 01.01.2018,
- the interest rate will be no more than 6%, with approximately 4% per annum paid by the state,
- given for the purchase of apartments in the primary market or for the purpose of refinancing previously taken loans.
The state program replaced the complex of social events “Young Family”, which was completed ahead of schedule in January 2018. The privilege under the Young Family program was provided only to citizens under 35 years of age, and the maximum amount of compensation did not exceed 30 or 35% (with a child) of the total cost of housing. According to Putin’s decree, the new preferential mortgage program is not tied to age and size of payments. In addition, now you do not need to contact additional authorities - you can apply for a benefit directly in your bank. Nevertheless, regarding the preferential mortgage of 2018, according to the decree of Vladimir Putin, there are moments requiring attention:
- The birth of twins. Right in the Decree of the Government of the Russian Federation, the issue of the birth of twins is not considered. If the twins are 1 and 2 children in the family, then the long grace period is 3 years. If the twins are 2 and 3 children in the family, then the grace period will be 8 years (3 and 5 years).
- Fourth child. The Decree of the Government of the Russian Federation does not indicate that parents of 4 and subsequent children will be able to use the preferential program. Nevertheless, when 4 children appear in the family, maternity capital can be obtained.
- Refinancing. If you pay a housing loan at a rate of 12 percent, then when 2 or 3 children appear in the family during the term of the state program, you can refinance the mortgage. In this case, the rate will be 6%.
- Clearance at the bank. The entire procedure for applying for mortgage benefits in 2018 is carried out at a bank or mortgage lending agency.No other persons and organizations have the authority to apply for a mortgage subsidy by decree of the President of the Russian Federation.
Step 3. Selection of housing
Restrictions on the choice of housing for different programs are different.
For example, young professionals or those participating in the social housing program are allowed to purchase square meters in new buildings. The list of houses can be provided by specialists of banking and credit organizations.
If you have already found a house in which you plan to buy an apartment, then contact the bank with your proposal. Perhaps the developer of this house is collaborating with a bank, but you did not know about this.
Mortgage terms with state support
The legislation introduces a number of restrictions on the provision of mortgage products with state support. Regardless of the banking organization participating in state aid, when drawing up an agreement on the purchase of housing by installments with interest payment, the following conditions must be met:
- Buying housing in the primary market. This measure is needed to stimulate and develop apartment building, create new jobs. In addition, this approach excludes the participation of commercial intermediaries involved in the purchase and sale of housing and inflate the final cost of the acquired property.
- State accreditation of a developer company. The partner developer, who has passed the necessary checks of transparency and reliability, is accredited by the banking structure and officially takes part in the preferential distribution of apartments, takes part in the project.
- Initial starting capital. All products provide for the initial payment of a certain amount, up to 20% of the price of the home, by the borrower. Young scientists are allowed a reduced contribution amounting to 10% of the value of the apartment. The money should be in the account of a bank engaged in issuing mortgages with state support in 2018.
- Interest rate. The maximum amount of contributions that the participants of the mortgage under the long-term state program will have to pay for the use of credit money is 12% per annum. For large families, the lowest rate is provided - 6% per annum. The average interest rate on products with state support ranges from 11-8%.
- Loan currency. For residents of Moscow and St. Petersburg, who make payments in dollars and euros, the unpleasant discovery will be that subsidies are in rubles, so you will have to recalculate the cost of housing purchased in ruble terms.
- Compulsory property insurance. Mortgage products offered by banks provide for mandatory valuation of real estate and insurance from accredited insurers. No exception are projects with state support. Insurance of liquid property will have to be in official institutions with payment of insurance premiums, otherwise bank representatives will not sign a loan contract. Medical health insurance is optional.
- Calculation of the area at the norm. According to the calculation, it is possible to apply for a strictly established amount of the square of living space per person, which is 32 m2 for one Russian. If the application is submitted by a family of two, then they must have at least 48 m2 of living space. For a large family, an increase to the previous figure of 18 m2 for each household is established.
2018 mortgage rate cuts - latest news
The preferential mortgage program by decree of Vladimir Putin aims to improve the demographic situation in the country. It is part of a range of social events in support of young families. The most current news about the reduction in mortgage rates in 2018, payments and maternity capital are presented in the video:
Step 4. Signing and execution of an agreement with a banking organization
An important and responsible step.
Read the contract carefully, especially - small font. There may be unpleasant consequences.For example, consent to a fine in case of late payment of a loan.
If the contract suits you, sign it.
If you want to make any adjustments, then contact a lawyer. He will represent your rights and will be able to persuade employees of the credit institution to review the contract.
Of course, this rarely happens, but it does.
Step 5. Registration of property
An agreement confirming your rights to property acquired under a mortgage must be submitted to the Rosreestr branch.
Be sure to leave a copy for yourself, in case of loss you will have confirmation on hand.
As a rule, you will become a full-fledged homeowner only after the entire loan has been paid, and until this moment the apartments will be considered the property of the credit institution.
Noticee, that you cannot carry out any manipulations with housing.
Still have questions? Just call us:
Vladimir Vladimirovich Putin on November 25, 2017 at a meeting of the Coordinating Council on the development of a national strategy for the state’s actions for children, said that from 2018 a special preferential program on mortgages for families with two and three children should be implemented. After this, the conditions and goals of the program were approved by presidential decree Pr-2440, clause 2 and Decree of the Government of the Russian Federation No. 1711. In order to improve the demographic situation, such families should receive state support - they will be able to purchase their own housing on a mortgage at a reduced rate of 6% per annum.
The new subsidy is intended to complement the maternity capital program, which is extended until 2022. Young families can count on government support and build their future on a solid and solid foundation.
Mortgage reviews by Putin’s decree
The state budget provides 600 billion rubles for state support of preferential mortgage lending for young families. Some young families have already managed to take advantage of the mortgage subsidy by decree of the President. Others are eyeing the state program. Most citizens evaluate government initiatives positively.
A user with the nickname Moneta from Yekaterinburg writes on the u-mama forum that, thanks to the new state program, she is ready to decide on her second child. The only obstacle to creating a large family for her is the housing issue.
Also on the u-mama forum, a user with the nickname Kikimora i Bolotnaya responds positively about the state program of mortgages. State support becomes a very important help for the family at a time when only 1 parent earns. In this case, young people can actually have a second or third child.
However, not everyone reacted to the preferential program of mortgage lending by decree of Putin and the Government of the Russian Federation. Someone thinks that the new program is a lie and lies before the elections. Others believe that it is necessary to reduce the amount of financial assistance from the budget. In particular, tigra001 on the u-mama forum writes that parents must provide for themselves and their children. In this case, there will be no envy or anger towards others.
There are citizens who are confident that any mortgage is a scam from the bank, including a mortgage by decree of Putin, because even with the subsidy, the amount of overpayment remains high. Others are sure that they will not be able to take advantage of the benefit in their region due to the limitations of the state program. In particular, Anonymous writes on the u-mama forum that the program is suitable only for primary housing. Because of this, it is not possible to purchase more affordable housing in the secondary market.
And how do you feel about the state program for helping young families 2018-2022? Will Putin’s preferential mortgage bring the expected benefits? Do you plan to take advantage of state support yourself and apply for a subsidy? Please write in the comments. Your feedback is very important to us.
How to get a mortgage
A large loan, taken for many years, is accompanied by a lengthy paperwork. To think that everything can be done in one day, if a mortgage with state support in 2018 is provided, is groundless. The algorithm for the acquisition of housing is as follows:
- Read carefully online or personally visiting financial institutions, with the existing state support programs for poor families and individuals, determine if there is a chance to participate in one of them.
- Choose a product with state support, find out the conditions for granting subsidies.
- Collect the primary documentation package.
- Choose a banking organization that offers the most suitable conditions, working with government subsidies.
- Go to the bank, find out the conditions for providing state aid, a list of accredited insurers and developers with whom you can cooperate.
- Choose a suitable home, taking into account the quadrature and the final value of the property.
- Make out a mortgage loan contract, remembering to collect additional official papers required by bank employees.
- Submit documents for consideration, wait for a positive decision.
- Make a purchase of real estate and use the housing.
Collection and preparation of documents
Most mortgage programs with state support provide for a certificate certifying the eligibility of the bearer to help with budget money. To get it, you need to contact the municipal authorities, providing information on the composition of the family, the number of residential squares for each household, and employment data. After receiving the certificate, make copies of the necessary documents required by a particular credit institution, collect information about earnings. Official salary should be 45% more than monthly annuity payments.
Choosing a banking institution
In order to have up-to-date information on current housing acquisition proposals with budgetary subsidies, personally call the selected banking institutions, inquiring about all the conditions for concluding a mortgage agreement. By comparing the current programs offered by financial and credit organizations, soberly assess your potential for monthly estimated installments, determine whether there is money for the initial installment, an account with a selected bank, or whether you comply with the limits for issuing a loan.
Search for housing in the primary market
Unfortunately, borrowers are not offered much choice when looking for apartments. They can acquire real estate from companies engaged in the construction of new buildings with state accreditation. In the selected banking structure, you can find a list of developers from whom you can buy real estate. Then proceed, starting from your life circumstances and preferences, taking into account also the limitations on quadrature imposed by mortgage co-financing.
Mortgage agreement with a bank
This is the longest stage, requiring close attention of the borrower - after all, when signing a loan contract, he determines his financial life for many years to come. Get ready to submit additional documents to the bank, financial guarantee, other information proving solvency, reliability. At this stage, you will have to evaluate the acquired real estate from independent appraisers, insure the apartment with accredited companies, paying your own funds for the assessment and insurance.
After the adoption of a package of documents and the adoption of a preliminary positive decision on the issuance of a loan, you need to conclude an agreement. If the applicant is not sure of his legal literacy, then it is allowed to sign in conjunction with a lawyer involved in the acquisition of real estate. Read the document carefully, do not forget to specify the amount of annuity payments and the procedure for repaying the loan body. A printout of the information should be attached to the contract.
Real Estate Acquisition
After receiving the funds, the mortgage contract must be registered with the Rosreestr in order to confirm its ownership of the property. It must be understood that, until the debts are fully paid, the apartment will be pledged to the bank. So, credit organizations minimize the risk of non-repayment of loans by irresponsible borrowers and protect their investments. According to a mortgage issued by a notary public, real estate is bank property until the end of payments. Purchase and sale, collateral, exchange, donation are not provided for mortgage housing.
What documents are needed
For a mortgage loan, subject to state subsidies, a standard set of documentation will have to be submitted, which includes:
- Application form for the issuance of borrowed money, written by the main borrower and co-borrowers.
- Identity cards of all citizens participating in the project with registration marks on citizenship and residence in the region.
- Certified by a notary copy of the employment books of the applicant and co-borrowers.
- Information about the main and additional earnings of working family members of the loan applicant, the availability of benefits.
- Documents on the powers to own real estate, if a new apartment is acquired with mortgage of other liquid real estate.
After preliminary approval of the application, bank employees can request the following information:
- account statement on the availability of money for the first installment of the debt,
- information that the housing is valued and insured,
- applicant's life and health insurance.
Banks participating in the state support program for mortgage lending in 2018
There are few credit institutions participating in real estate allocation projects for the poor with state support. The state wants to cooperate with trusted banks that are reliable and transparent in spending. Despite the difference in the projects offered by financial banking organizations, they are united by one thing - the presence of some restrictions imposed by the state when co-financing a mortgage loan. A member bank cannot change the interest rate, otherwise try to increase income.
Sberbank of Russia
The largest banking structure has been issuing money for housing in cooperation with the state since the beginning of the existence of projects providing for state aid. Since mid-2018, Sberbank has softened the requirements for providing borrowed finance. The conditions for receiving money are as follows:
- applicant's age of 21 years,
- interest rate - 7.4%,
- loan amount - 300,000-3,000,000 rubles, for residents of the capital - up to 8 million rubles,
- down payment up to 15%,
- early repayment of the debt balance is not provided,
- annuity payments do not exceed half of the total family income.
VTB 24 conditions largely coincide with the requirements of Sberbank when issuing financial resources, but there are some differences. You can calculate the approximate amount of required payments on the official website calculator. The rules for issuing a loan are:
- the client must be at least 21 years old,
- interest on borrowed funds is 11.4% per annum,
- you can attract co-borrowing relatives,
- down payment from 20%,
- loan amount 600 000-8 000 000 rubles,
- early repayment of a loan is allowed,
- the contract is executed with a minimum of documents - a passport and information and earnings.
Bank of Moscow
The terms and conditions offered by VTB Bank of Moscow to potential borrowers for the issuance of a mortgage loan are somewhat different from previous banks. Money is provided for up to 50 years at 9.75-14.7% per annum, depending on the program for which the borrower claims. You will have to pay up to 20% of the value of the property immediately. The maximum amount limit is set within 8 million rubles. The issuance of money is declared upon the provision of an identity card and information about primary and secondary earnings.
Russian Agricultural Bank
Original offers to young families on the issuance of mortgage loans put forward the Agricultural Bank. Money with budgetary subsidies is issued for the purchase of an apartment in a new building, land, townhouses, country cottages. The initial payment is provided in the amount of 20% of the price of housing. If the borrower refuses to insure health, then the rate increases by 7% per annum. Depending on the category of client, interest rates vary as follows:
- People receiving a salary at a banking institution and having a good credit history receive a loan at 8.95-11.45%.
- To state employees under 9-11.5%.
- The remaining individuals under 9.1-12%.
A banking company issues a loan on its terms. A loan is offered at 11% with a stipulation of a one-time payment of monetary amounts equivalent to 20-49.9% of the value of real estate. If the client has contributed 50% or more of the price of the apartment, then borrowed finance is given at 10.6%. The main requirement in this situation is the repayment of debts to the bank within 7 years. You can count on 500,000 - 3,000,000 rubles in Russia, and up to 8 million rubles in St. Petersburg and Moscow. You can prematurely "close" the debt without charging fines. The contract is for 30 years.
Advantages and disadvantages
People living in new comfortable apartments appreciated the effectiveness of budget subsidies when taking a mortgage loan. The advantages of such products include:
- the opportunity for Russians with low incomes to purchase expensive housing,
- low interest rate mortgage loan,
- a variety of categories of citizens who can solve housing problems in 2018,
- transparency of transactions, no deductions to intermediaries.
Since the program is operating recently, it has disadvantages, which include:
- a small number of banks working with the state aid system,
- selection of suitable housing for a limited number of developers participating in the project,
- strict age and other restrictions,
- requirements for making an initial large amount,
- the need to collect a lot of documents, proving the right to participate in state aid.