2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Not everyone knows that today many families have a unique opportunity - to get a loan for maternity capital. First of all, this applies mainly to those loan programs, thanks to which many families have a chance to solve their housing or "educational" problems.
How to use maternity capital in order to purchase housing on credit? First you need to clarify that this allowance is provided to the family as state support after the birth of a child, as well as in cases where the family has adopted a second child. According to the current legislation, the family can spend the received maternity capital only in three cases:
- - increase mother's pension with capital;
- - pay for the child's education;
- - spend these funds to improve the living conditions of the family.
Due to the sufficient temporal remoteness of the first two points, most Russians prefer to spend this capital on the latter.
Beforeto ask the question “where to get a mortgage loan”, you should be well acquainted with the conditions for providing maternity capital, and how to use it. Thus, according to the Pension Fund, which issues certificates for this benefit, more than 75% of Russians usually use the received state material support to pay off their mortgages.
It is important to note that the family can dispose of this money even before the child is 3 years old, that is, as soon as the parents receive a certificate for capital, they can immediately apply for a mortgage or repay a previously taken loan.
However, it should be noted that not all organizations that issue loans for the purchase of real estate accept this allowance for the payment of a down payment.
There are only a few ways to use a maternity capital loan and its funds as a mortgage loan:
- pay the first installment when buying a home;
- to pay off a real estate loan already taken.
This certificate cannot be cashed, and all outgoing payments made with it must be targeted and non-cash. After that comes the process of preparing the necessary documents for banks, which are required to apply for a mortgage.
For many holders of the maternity capital loan certificate, the correct use of these funds becomes a moot point. It is forbidden to use them:
- to pay for repairs in a new apartment;
- to buy a new car;
- in order to get a business loan;
- use cash to buy some property;
- the use of all capital or any part of it for the needs of the family.
In order for a family to be given a loan for maternity capital, and it could use this money for its own purposes, you must first obtain a certificate for this capital. To do this, you need to collect all the necessary documentation, contact the local branch of the FIU and write an application for its provision.
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