For many young families and single mothers, the issue of purchasing separate housing is one of the top priorities. Since it is almost impossible to accumulate a large amount of money to buy an apartment, many are trying to get a mortgage. But not all applications of borrowers are approved by banks. Whether mortgages are given to single mothers is a topical issue for women raising children on their own. For such categories of borrowers, the state and financial institutions provide for certain targeted programs that improve the living conditions of such families.
Is it possible to apply for a mortgage in 2018 for mothers raising children on their own
For women raising one or more children alone without a husband, the process of obtaining a mortgage is not an easy one. However, there are several social programs in the constituent entities of the Russian Federation that help resolve such issues.
Important to acceptPlease note that for banking and credit organizations, single mothers are not allocated to a separate group, so each applicant for a mortgage must meet the announced conditions.
As an exception, only special state programs aimed at supporting this category of the population can be singled out. Under such circumstances, separate preferential conditions are provided and the opportunity to receive a lump-sum subsidy or other opportunities that will help to obtain housing on more democratic conditions. Terms and conditions may vary by region.
To get a mortgage loan as a single mother, this fact must be confirmed by the relevant documents and certificates. Compared to other population groups, more guarantees are provided for such persons. For example, a pregnant woman or a single woman with a small child is almost impossible to be fired from her workplace, which means that this can serve as proof of a stable income.
Accordingly, when applying for a mortgage, a single mother has every opportunity for a positive decision of the bank, regardless of whether she is married. In this case, she has two paths:
- Apply for standard bank requirements.
- Using a social program.
Design through social program
Some single mothers are unable to obtain mortgages due tolow official income. At the same time, the issue of acquiring a separate housing does not tolerate any delay. The very term of social mortgage lending implies the existence of special conditions:
- A subsidy that is allocated separately at the state level. The established amount is transferred to the account of a credit institution to repay part of the debt of a mortgage issued by a single mother.
- Determining a low interest rate. Unlike standard offers, the overpayment amount will be an order of magnitude lower.
It is important to take into account that today such an opportunity does not exist in every region. However, in many subjects of the Russian Federation, this category of persons can count on receiving social support. As a rule, the provision of a social mortgage to a single mother with two children is carried out as follows:
- Documentary confirmation of the respective status.
- Get on the waiting list for social housing.
- Applying a loan at a banking organization.
- Receiving financial assistance from the state. As a rule, appropriate compensation is used for this.
Using a social program to get a mortgage
For several years, the social program has been very popular in many regions of the country. A single mother also has every reason to become a member of the Young Family project or"Housing". Banking organizations that take part in it provide preferential terms for mortgages. As an example, consider a mortgage for a single mother in Sberbank.
So, for example, the interest rate per year will be only 8.6%, and the loan amount - from 300,000 rubles. However, at least 20% of the loan amount must be paid as a down payment. Since the terms are quite loyal, it is possible to conclude a contract for 30 years, which will help reduce the monthly financial burden.
It is important to note that every young family can receive additional subsidies. Their size depends on the financial situation and the number of family members. The maximum assistance under the social program is no more than 35%. In 2018, a new Family Mortgage project was opened, which implies a maximum loan amount of 3,000,000 rubles for a period of 30 years. A rate of 6% applies. However, the following condition must be met: the second and third children must be born no earlier than January 1, 2018.
What are the requirements?
Whether a single mother gets a mortgage depends largely on the candidate for a debt contract. Among the main requirements for a borrower to obtain a mortgage on favorable terms are:
- Russian passport.
- Applicant must be at least 21 years of age at the time of application. It is important to note that subsidy programs also have an upper limit of 35 years.
- Confirmation of official earnings, which will betestify to solvency.
- Positive credit rating (minimum number of closed delinquencies and other breaches of contract).
- The length of service at the last place of work must be at least 6 months.
To be able to participate in social projects, a single mother must also confirm the need to improve housing conditions.
How to get a mortgage for a single mother?
The registration process can be divided into several stages:
- Collect the required package of documents to apply.
- Finish an online application on the official website or come to a bank branch and submit an application by filling in the required data.
- Waiting for the Security Council to review the application and verify the data provided.
- Deposit the initial amount of funds provided by the credit institution.
- Register the object as collateral with the relevant authority.
- Implementing the transfer of funds.
The procedure itself follows the standard rules. Only the conditions for granting a mortgage in accordance with social projects may differ. When applying for a mortgage by a single mother with maternity capital, it must be attached to the main package of documents provided when applying. The funds of the certificate can be used both for the down payment and for repayment of the principal amount of the debt.
Among the main papers for obtaining a social mortgage by a single mother, a potential borrower must provide:
- Russian passport.
- Documentary confirmation from the relevant government agency that the citizen really needs to improve their living conditions and can qualify for social benefits.
- Application according to the form established by the bank.
- A document showing that a mother is raising a child alone.
- Evidence of having children.
- Document with family composition.
- Confirmation of material condition.
If necessary, the bank has full authority to request additional information or documents. As a rule, this happens if the Security Council finds it difficult to make a decision on the application.
Where can I go?
Today, the number of banks that work with social programs and give mortgages to single mothers is not so large. It is important to note that with such a decision, it is necessary to prepare the required package of documents in advance with visits to state organizations. So, for example, to get a certificate of the status of a single mother, you need to contact the municipality. It is important to take into account that the state of the credit market is such that if the client can document her solvency and previously fulfilled her loan obligations to banks without violations, then this status will not matter.
How to increase your chances of getting approved?
As a rule, banks pay the most attention to the document confirming financial income and the information contained in the IBC. The remaining factors are not so important, so it is quite possible to get a mortgage for a single mother with two or more children if she has a good official income. To increase the chances of a deal can:
- Ownership of movable and immovable property.
- Formalization of the guarantor.
- Making a down payment greater than the minimum bid.
- The absence of serious violations that are recorded in the BCI.
It is recommended to pay attention to the offers announced by Sberbank. First of all, this is an organization that operates at the state level, which means that the percentage of security is as high as possible. In addition, participation in the social program helps to significantly reduce the overpayment of the loan rate.
Can I do without a down payment?
You can apply for a mortgage for a single mother with one or more children without first making a certain amount in the following cases:
- When using a mortgage program that does not provide for DC.
- Using government subsidies.
- Processing a loan when making a pledge.
- Using a mother certificate.
- Borrow money.
- Use a promotional offer from the developer (if any).
It is important to take into account that banks also try to reduce the risk to themselves when they offer programs without a down payment. The best option would be to use maternity capital. Based on current legislation, it is allowed to use a certificate for mortgage registration.
In this case, the family must have more than two children. The certificate can be used not only for the down payment, but also for repayment of debts, accrued pen alties for delay. The only exception may be the lack of compatibility of the subsidies used. In this case, you will have to choose what is more profitable to use.
In fact, there are many options for how you can get a mortgage for a single mother. She can always qualify for social benefits and prove her right to improve the conditions in which she lives with her children.
Social programs exist for that, that if a potential client does not have enough money, then she can claim to ease the financial burden and still get a mortgage to live with children. In addition, if you manage to register real estate as collateral, then the likelihood of obtaining approval by the bank increases dramatically. After all, he receives serious guarantees of payment.