State mortgage programs in Russia: conditions, package of documents

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Everyone wants to arrange their life and do it as soon as possible. The state is trying to help citizens solve this problem with the help of concessional lending programs. Today in Russia you can get a social mortgage, take a loan from a bank or participate in a social project.

Types of mortgages

Depending on the option of raising funds, mortgages are divided into two models:

• American. This includes the government mortgage lending program.
• European. The loan is financed by savings banks.

Under the preferential lending program, young families can purchase real estate on credit. However, until the moment of its repayment, they cannot purchase any other type of real estate. Even if the borrower has issued a loan from a bank, the Mortgage Lending Agency (AHML) may be the holder of the mortgage. Although most often the mortgage remains in a financial institution.

Bank mortgage

Financial institutions primarily take into account the age of the borrower. At the same time, each sets its own threshold. The advantage of this approach is that parents can act as co-borrowers. If the income of a young couple, confirmed by a 2-personal income tax certificate, is not enough to pay the minimum payment, then the paragraph on borrowers allows you to solve this problem.

Banks issuing mortgages can provide a deferment if the borrower agrees to extend the loan term, under the following conditions:

• if funds are allocated for the construction of a house, then the payment can be postponed for a maximum of two years;
• if a young couple had a baby during the contract period, the financial institution can provide credit holidays for a maximum of three years.

It is only about repayment of the main debt. If before the signing of the contract the family already had a minor child, then you can count on the amount of lending within 90% of the original cost.

Separate category - "state employees"

Government employees are attractive borrowers for banks for a number of reasons:

1. Discipline. According to statistics, this category of the population is responsible for the undertaken obligations. This quality increases the chance of a timely refund.
2. Possibility of pressure through the employer. You can influence the client in several ways, including through the court. In the most extreme case, monthly loan payments will be collected from the client's salary.
3. Stable income. Government employees receivea small salary, but at a strictly agreed time. Such structures are less likely to be liquidated, reorganized or reduced. Therefore, there is a chance that the client will work in his position for the entire loan period.
4. The development of social programs allows the bank to significantly increase its customer base, as there will be enough young families and employees of state institutions in each locality.

Social mortgage

These are lending programs operating in certain regions of the Russian Federation. With their help, you can:

• buy an apartment, house;
• reduce the purchase price to a discount;
• become the owner of mortgage property.

Participation in the social program is a good opportunity for a young family to reduce the cost of a mortgage.

A bit of history

In 2010, on New Year's Eve, the government approved the Housing program for 5 years ahead. Goals of its implementation:

• stimulate the construction of energy-efficient low-cost housing;
• provide preferential purchase of property by citizens in need;
• develop mortgage programs;
• adjust the cost of a standard apartment to the average annual family income for 4 years;
• increase the share of borrowers to 30%.

From that moment on, state mortgage programs began to operate in Russia.

Features

Federal Preferential Mortgage Young Family Housing is the most popular product on the market. The percentage of compensation of part of the cost depends on the compositionfamilies. If the loan is issued by newlyweds with a child, then the state will cover 35% of the cost, if without a child - 30%. If a baby is born in the family during the repayment of the loan, the state will compensate another 5% of the costs. The main advantage of such a program is that the acquired property immediately becomes the property of the borrower, that is, he can register any family member in it.

Government mortgage programs have a number of shortcomings. The contract is usually drawn up for 10 years, which leads to large overpayments for using the loan even at a low rate.

For whom?

Social mortgage provides for a whole range of government programs. The banks themselves develop lending products together with the state. The terms of service are different for each region. For the most reliable information, contact your local authorities. Preferential mortgages are provided not only to young families.

The following can become participants in the program:

• Families in need of better living conditions: live in unsuitable premises, are registered with local authorities or are not provided with the required amount of housing. The last point implies that each family member has less than 18 square meters. m total area.
• Families with a child whose parents are under 35 years of age. If there are several children, then such restrictions are not set. Not only holders of a certificate for maternity capital can become participants in the program.
• Military andcombat veterans are offered the most favorable terms of the program. They are valid if a person has been a member of the accumulative housing system (NIS) for at least three years.
• Employees of authorities, scientific, state institutions, cultural facilities, city-forming enterprises are also served on unique terms.

Which objects are suitable

The housing program provides for the purchase of an object at any stage of construction or on the secondary market. According to federal programs, you can buy housing in any region, and according to regional programs - only in a certain district. Especially if the borrower is subsidized.

The developer doesn't care who pays for the purchase. The exception is programs under which housing is purchased at below market prices. Typically, these apartments are sold in economy-class houses and "frozen" by the authorities in agreement with developers. All developers receive such a social burden in the form of residential meter quotas.

Statistics

Interest rates of commercial banks fluctuate between 11-15%. If we talk about government programs, then here the rates do not exceed 13%. Considering that the inflation rate in the country does not exceed 13%, then obtaining a mortgage under a preferential program can be a good alternative to investing. Moreover, the state is considering the issue of extending state programs. Many financial institutions increase rates by 2-3% on real estate located on the secondary market. For example, in VTB you can get a mortgage at 14%, subject to the payment of 30%advance payment for a maximum amount of 2.8 million rubles. The same limits are set in Sberbank, but the terms of service are different: 20% advance and a rate of 13.5%.

In 2014, 7.5 thousand social loans worth more than 15 billion rubles were implemented. Most of them were issued by military personnel. Another 25% of the contracts are for young teachers. For comparison, in the same year, 445,000 mortgages were issued in the amount of about 769.5 billion rubles.

Statistics could be better if potential borrowers knew about the social program. Not everyone meets the minimum requirements. The borrower must pay 20% of the cost of housing, choose an apartment among several options offered by the state. All of these factors affect demand.

How to get a government mortgage?

A loan can be obtained in three ways:

• First - get a loan on favorable terms at a reduced rate. Under programs with AHML, rates vary from 10.5 (with an advance payment of more than 30%) to 11.1%. The difference is transferred to the bank from budgetary funds. The minimum advance payment is 10%, the maximum loan term is 30 years. The longer the term, the lower the payment and the greater the overpayment. To participate in the program, it is enough to submit an application to the bank office.
• Second - providing funds for the purchase of housing. They can be used to pay an advance or part of the debt.
• Third - the purchase of public housing on credit. Apartments for such programs are allocated according to quotas, and the contract is drawn up inbank.

The borrower can independently choose a credit institution. A state mortgage for a young family can be obtained from more than 15 banks.

Documents

To participate in the program, you must provide:

• statement;
• copies of family members' passports;
• document confirming the status of those in need of better housing conditions;
• 2-personal income tax certificates of each family member, copies of work books or a bank statement confirming the availability of funds to pay the advance.

Depending on the purpose of the mortgage, the region, the cost of housing, this list may be supplemented.

If the mortgage has already been issued, then copies of the certificate of ownership, a loan agreement and a certificate from a financial institution on the balance of the debt will be required.

Potential borrowers are offered to choose between federal and regional programs. You can only become a member of any of them once.

Military mortgage

The most stringent conditions apply to the participants of the military mortgage. But there are more benefits to such a program. Entering the NIS, a soldier receives a subsidy from the Ministry of Defense. These contributions are indexed annually. After three years, these funds can be used to repay part of the loan. A soldier, in fact, receives a free mortgage. You will have to pay off the debt yourself only upon dismissal from the army. You will have to pay 9.4-11.5% for using the loan. The minimum rate is valid for objects of the secondary market, and the maximum - for objects under construction.

Limited loan amount is limited to 2.4 million rubles. Those wishing to purchase more expensive housing can pay the rest of the amount on their own or take a consumer loan. According to statistics, the average cost of housing purchased under such a program is 4.2 million rubles. Requirements for all participants in the transaction (borrowers, banks, developers) are established by Rosvoenipoteka.

Young families

The housing issue is especially acute for young families with children who have not saved up enough money to buy an apartment. For this category of the population, state programs have been developed to help mortgage borrowers.

Young people under the age of 35 can take part in the Affordable Housing project. They must have the status of those in need of better housing conditions and a permanent income, confirmed by a 2-personal income tax certificate.

Banks participating in the "Young Family" program are developing their own proposals with the same names of projects. In order not to get confused between public and private programs, you should study the terms of lending in detail.

As part of the project, the state gives everyone an opportunity to improve their living conditions by compensating part of the cost of buying an apartment. The government does not give away property for free, but pays ⅓ of its value.

Procedure

State mortgage programs for youth are issued in the form of certificates. Thisthe document should be submitted to the authorized body of the bank within two months from the date of its receipt. Otherwise, the bank will not be able to accept the document. The certificates are issued by the local authorities. Its validity period is 9 months. During this time, the mortgage should be fully issued.

These funds can be used to purchase property, build a home, make a mortgage down payment, or pay a down payment. Within the framework of regional programs, it is possible to repay an existing mortgage using a certificate. At the same time, collateral housing by quadrature must meet the minimum requirements.

The decision to recognize a family as needy is made by the local administrative center according to the following criteria:

• a family of two lives in an apartment of less than 42 square meters. m;
• in a family of three, each member has less than 18 square meters. m.

The area of all residential premises owned is taken into account. If the wife and child are registered in an apartment of 36 sq. m, and the husband is registered in the parental apartment, and it accounts for more than 18 square meters. m, then it will not work to take part in any state mortgage program. The reason for refusal can also be the provision of false data, the absence of any documents, or the participation of one of the family members earlier in the preferential program.

Terms for 2017

Under the social mortgage program, you can buy housing only in the primary market. The exception is the military program.

• Down paymentfor all categories of citizens, except for young professionals - 20%.
• The minimum annual rate is 12%.
• The loan is issued only in Russian rubles for a maximum period of 30 years.
• A prerequisite is property insurance.
• The calculation of the area of future housing is carried out according to the following formula: 32 sq. m - per person; 48 sq. m - for two; 18 sq. m - for each subsequent family member.

Conclusion

Government mortgage programs are available to young families whose members are under 35 years old. With their help, you can significantly reduce the cost of a mortgage up to 30-35%. Unfortunately, only 1.7% of the population of the Russian Federation use such programs. This type of mortgage is not a panacea. Not everyone will be able to afford to buy new housing, although many Russians have already received their square meters thanks to this program.