How to get a mortgage for a young family: conditions and description of programs from banks

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

Young families can count on state financial assistance from the moment they form a family. In particular, they can receive maternity capital, participate in housing programs and receive tax deductions under certain conditions.

How to get a mortgage for a young family

The family, as a cell of society and the potential of the country's tomorrow, is of great value to every state. For the stable development of the family, considerable funds are required, the main of which is the acquisition of real estate. Young people who get married have a chance to take advantage of special government programs with somewhat simplified conditions.

Given the high real estate prices, the question of how to get a mortgage for a young family remains relevant. Even if young people earn enough, the need to make an initial deposit baffles many. But not everything is so sad. Next, we will talk about this in detail.

Algorithmaction

Private banking organizations are also ready to provide their financing services. Increasingly, you can see advertisements for banking products designed for the needs of families. But the state program is distinguished by its general accessibility and the presence of goals. For example, the Federal program "Housing 2011-2020" pursues clear goals - to provide housing to as many families as possible who need it.

A specific way of state assistance in solving housing problems is the issuance of certificates for receiving subsidies. Carried out in the following order:

• Provide a certificate stating that the family needs housing.
• Become a member of the Young Family or Housing 2011-2020 program.
• Contact AHML.

Each item needs clarification. Information provided below.

Determination criteria

Before answering the question of how to get a mortgage for a young family, you need to find out the legal grounds. One of the important arguments is the norm of housing. The norm of housing for each person is established at the legislative level. The indicators are individual for each region.

For example, in Moscow, the norm of housing per person is 18 square meters. m. The norm for a family is 42 sq. m. If in the Belgorod region and in Yaroslavl these norms are equal to 17 square meters. m, then in Voronezh 14 sq. m. If a family's housing standard is below these parameters, then the relevant authorities do not have the right to refuse to provide state assistance to improve living conditions.

Such provisions are regulated by Article 50 of the Housing Code of the Russian Federation. If we are talking about tenants, then it is useful for them to study the provisions of Article 49 of the Housing Code of the Russian Federation.

As for government programs, their list is not limited to the above options. The housing issue is also considered in each region at the local level. Local authorities have the right to implement their own programs. For example, the authorities of the Arkhangelsk region are running a program that provides support for the purchase of secondary housing. In Belgorod, the authorities prefer primary construction. When a family is faced with the question of how to get a mortgage for a young family, you should study and collect complete information in your territorial district.

Another question for clarification - what is AHML? This is an open joint-stock company, the founder of which is the Government of the Russian Federation, the full name is the Agency for Mortgage and Housing Lending. Consideration of housing issues for families is the direct responsibility of this organization. Therefore, the question of whether it is possible to take a mortgage to a young family in a particular case should be directed to them. Based on documentary evidence only.

Also, these issues are authorized to deal with the Office of the Department of Housing Policy of Territorial Purpose. The term for consideration of applications is 10 days.

Who can apply?

Government programs under the term "young family" mean a married couple, where both are under 35 years old. The main thingrequirement - the presence of an officially registered marriage at least 1 year ago. When wondering where to get a mortgage for a young family, a couple may consider offers from private banks. Private lending institutions accept applications from families where one of the spouses is over 35.

There are separate requirements regarding the citizenship of spouses. Preferably, if both are citizens of the Russian Federation. But if one of them is not a citizen of the Russian Federation, but is married to a citizen, and they have a common child, then the application is accepted for consideration.

It is a mistake to believe that only a married couple is recognized as a family. Incomplete families, where the only parent is a citizen of the Russian Federation, also have the right to apply.

Another important criterion is proof of income. This procedure is necessary in order to convince the lender of its solvency. According to the requirements for 2017, the total family income must be above 21,600 rubles. If the family has a child, then the income must be at least 32,150 rubles per month.

Subsidy amount

The average subsidy is 600,000 rubles. It can be obtained to buy real estate or to build your own house. If there is already a mortgage, the loan can be used to repay it. To do this, the family must agree in advance with the bank about this possibility. Some banks are accredited for mutual settlements with government agencies and have the right to accept funds from the state budget in favor ofrepayment of credit obligations of citizens.

When deciding how to get a mortgage for a young family with a child, a couple may decide to build their own private home. In this case, they need a land plot, and state assistance is aimed at covering part of the costs. Usually this figure is 35-40% of the costs. The exact amount of the subsidy depends on the number of family members.

How to implement the subsidy?

When the executive branch considers the application and makes a positive decision, we can say that the question of how to take a mortgage on an apartment for a young family has been partially resolved. Now spouses are awarded a certificate for a certain amount. With this document, they must now find a bank where they can get a mortgage. But this is not the whole list of the rights that the subsidy certificate provides. Full Solutions:

• Purchasing an apartment or room.
• Building a house.
• Participation in housing cooperatives.
• Pay off existing mortgage.
• Provide instead of the amount required as a down payment.

Bank offers

The presence of a certificate is an indicator of the state guarantee of a certain part of the risk when purchasing real estate, since for many young people the question “how can a young family get a mortgage” is quite acute. The certificate opens the way for them to banking institutions that will directly finance the purchase.

The state does not nominatespecial requirements for executing banks for the implementation of mortgages to a young family. But a prerequisite is that the bank has a license for the current year, issued by the Central Bank. There is no need to worry about this, since without this document, no financial institution has the right to conduct its activities. The market is not short of mortgage offers.

Sberbank

The leader in the financial services industry - Sberbank - is widely known for affordable loan terms. It differs in matters of mortgages for young families. So, what are the conditions for a young family to take a mortgage at Sberbank?

General requirements are standard: work and income, liquid real estate and an application. The base rate is 8.6% per annum. But there is an opportunity to make rates even lower. For this you need:

• Receive a salary on a Sberbank card. The rate is reduced by 0.5%.
• Be a member of the Sberbank Insurance program. To participate, you can insure personal risks or purchased property. Moreover, when applying for a mortgage, this procedure is mandatory. In this case, the rate will be lower by 1%.
• Single parent under 35. In this case, the applicant has the right to ask for an additional rate reduction. And perhaps it will be satisfied.

VTB-24

Another financial market leader, VTB-24, will help a young family get a mortgage without a down payment. To do this, you need to take into account the cost of the apartment. One of the bank's standard conditions is an initial payment of 20% or more. But young families can use the certificate instead of this money. Usually the amount of the subsidy covers 30-40% of the average market value of the apartment.

Family can apply for a mortgage for a period of 5 to 30 years. Interest rates vary around 11%. You can request any amount up to 800,000 rubles.

Alfa Bank

Solving the housing issue requires a lot of effort and time. Here there is a need for a stable salary, the level of which is able to cover the monthly repayments. At the same time, the work must be official. Not bad if a young family has their own small savings to buy a home. They are usually used as a down payment.

But even if the couple does not have their own funds, thanks to state support, she has the opportunity to take a mortgage to a young family without a down payment. The possibility of paying with a certificate was also considered in Alfa Bank. Moreover, the bank is ready to finance both secondary housing and projects in new buildings.

A family can count on financing in the amount of up to 50,000,000 rubles for both primary housing and a new building. Repayment terms vary from 12 to 360 months. The final refund amount will differ from the cost of the apartment by 9.29% per annum.

Uralsib

When the certificate is already in hand, the issue of choosing a bank is solved simply. You need to look at the offers and compare them with your own.income and plans for the future. How to get a mortgage for a young family in Sberbank or any other bank? Uralsib Bank also provided its own solution to this topical issue.

The Bank is ready to finance the purchase of finished or under construction housing for up to 30 years. The amount of the initial deposit must be at least 20%. Interest rates per year start at 11%. Specific indicators depend on the solvency of the applicant, on the term of the loan and other parameters.

Bank of Moscow

"Bank of Moscow" is also ready to take part in solving the housing issue of a young family. Moreover, with an individual approach for each applicant. So, what does it take to get a mortgage for a young family in this bank? There are two options: you can issue according to the standard scheme or try to take advantage of reduced rates. Comparison info:

• According to the standard system, the interest rate is 11.40% with 20% of the cost of housing.
• Applicant's family receives funding at 11.15% with a 15% down payment.
• If one of the spouses joins the bank's corporate programs in advance, the rates can be reduced to 10.65%, and the down payment to 10%.
• Privileges on rates are also waiting for those who receive wages on the Bank of Moscow card.

Requirements for borrowers are standard. The funds received can be returned within 25 years. There are requirements for the acquired housing: suitable living conditions and communication networks. If you buy a second home, then the year of constructionshould not be home before 1972.

Collection of documents

When the couple's family found the answer to the question of how to get a mortgage for a young family, another question arises - what certificates and certificates are required? The list of required documents is as follows:

• Certificate confirming the level of income. This can be a certificate in the form of 2-NDFL or in the form of a creditor. But more often both options are required;
• Certificate from local governments that the family needs to solve housing issues.
• Copies of spouses' passports.
• Marriage Registration Certificate.
• Documents for children, if any.
• Extract from the house book.
• Copies of documents for the property.

Conclusion

According to the feedback from families who received a government subsidy, the entire process takes no more than 1 month. This includes the process of considering the application in the executive bodies, filing an application with the bank and the process of processing the transaction. The terms for searching for housing and the term for registering rights to real estate are not taken into account.

Most government programs have a limited duration. But the trend of recent years shows that after the old programs expire, new ones are introduced with even more attractive conditions.