How can a young family get a loan to build a house?

Where can newlyweds get a mortgage?

A mortgage is not issued without a down payment. Usually it is 15 or 20 percent of the cost of the apartment. That is, it amounts to a fairly decent amount. And without it, not a single bank will issue you a mortgage loan. The only exception here can be a real estate pledge. To give an idea of ​​a mortgage loan, lending options are presented in one of the most popular banks in Russia - Sberbank.

If you compare mortgage programs with other banks, you will notice that Sberbank is not always the best offer:

• Tinkoff Bank provides an interest rate of 9.25% per annum;
• VTB provides an interest rate of 9.1% per annum;
• Rosselkhozbank provides its clients with 9.45% per annum;
• Gazprombank - 9.5% per annum.

All other banks offer unfavorable loan rates. This is due to the fact that to approve a loan in such a bank, fewer conditions must be met than in a reputable bank. They issue a cash loan more easily, but they want to make more profit from it.

Based on this table, you can see that due to its popularity and demand, Sberbank does not charge the lowest interest rates, thereby receiving more profit from its many clients. In addition, to obtain a mortgage, you must pay for an insurance policy from Sberbank, which is required when purchasing an apartment.

Where to lay the straw

Before taking out a mortgage for a young family, you need to analyze all possible risks and pitfalls. Lending banks, realizing the urgent need for resources for housing for a young family, sometimes use the borrower’s inexperience to force them to take out a loan on enslaving terms instead of the required benefits. What could be the danger:

• The mortgage seems to be issued at a minimum percentage (5 - 7%), but in addition the bank sets a monthly commission of a harmless 2 - 3%, which ultimately will increase the cost of the loan by 40%, because the commission is calculated not on the balance, but on the original amount debt.
• When discussing a debt repayment scheme, the bank offers two options - standard and annuity, convincing that the latter is much more profitable and comfortable. It seems convenient to repay the debt monthly in equal amounts, but the overpayment under the classical scheme, even with a long repayment period, turns out to be an order of magnitude less than the annuity scheme. Early repayment of this scheme is also not profitable after paying 30% of the debt, and sometimes it is impossible (according to the terms of the contract) or possible after paying a fine.
• The bank may insist on insuring all risks with a specific insurance company, where the cost of the policy is much higher than the market price. In such a situation, you can ask for documents confirming that insurance is mandatory in a specific company and a template for a loan agreement that specifies the risks required for insurance. (Insurers often include additional conditions to increase the cost of the policy.)
• We must also pay attention to the amount of fines, because over the decades for which a mortgage is issued, different situations develop, so the section on fines must be studied carefully.

Preferential mortgages to support young families in 2020

Since newlyweds are low-income during the first years of their marriage, and many of them already have children, preferential programs have been developed to help young families and families with children in the first year of marriage.

To use this program, you must meet the following conditions:

• Both spouses must have a Russian citizen passport;
• The same registration in the region in which the mortgage loan will be taken out;
• The area at the place of registration should not exceed 12 meters per person;
• If there is a child born in the first year of marriage, the area per person should not exceed 9 meters per person.
• The length of service of one of the spouses at the current place of work must not be less than 1 year.

The bottom line is that if there is no child in the first year of marriage, then if all conditions are met, then after collecting the necessary documents, a preferential mortgage with a reduced interest rate is provided. The table below shows the preferential programs of the most popular and sought-after banks.

As can be seen from the table, preferential mortgages have a 5 percent higher down payment. Despite this, such programs are popular and are in great demand among newlyweds. In addition, if you have a child in the first year of marriage, and all conditions for participation in the program are met, in addition to a preferential mortgage, you can qualify for 370 thousand rubles, which can be paid towards the down payment.

Important! The preferential mortgage rate for newlyweds is valid for 5 years. At this time, the bank itself compensates for the missing interest. After the grace period expires, the interest rate increases to 9 percent or higher.

Federal program for young families

The federal program provides for the provision of free subsidies to young families in the amount of at least 30% of the cost of housing for families without children and at least 35% for young families with one child (or more), as well as for single-parent families consisting of one parent of one child (or more).

The size of the total living space also affects the size of the subsidy. According to the program, a family of two people (young spouses or one parent and a child) is entitled to an allocation of at least 42 m², a family of three or more people (a spouse and a child or a young parent with two or more children) - 18 m² per person. Values ​​may vary depending on the cost of housing in the region.

Which family is considered young?

A young family is considered to be a family in which the age of each spouse (if the family is complete), or one parent (if the family is incomplete) at the time of making the decision to include it in the list of applicants for a subsidy does not exceed 35 years (clause 6 of Appendix No. 3 to the subprogram “Providing housing for young families”).

How can you use the grant?

The grant can be used for the following purposes:

• payment of the price of a construction contract;
• payment of the first installment when receiving a loan;
• payment of principal and interest on a debt.

How can a young family get a mortgage loan from the state?

A young family can obtain a mortgage loan from the state by taking the following steps:

1. Having received the status of a family in need of housing.
2. By joining the federal target program “Housing”.
3. Having received a certificate confirming your right to receive a subsidy.

Social mortgage for newlyweds in 2020

Social mortgage is government assistance to families who need to improve their living conditions . If we consider it in relation to conventional lending, then this is a regular mortgage, with the state paying a partial amount of the loan. The amount provided by the state depends primarily on the presence of children. If they are not there, then he provides an amount reaching 500 thousand rubles.

If a family has 1 or 2 children, then the amount of state assistance for the purchase of new housing can be up to 800 thousand rubles. There is a waiting list for participation in such a program, which reaches the borrower, on average, 2-3 years after submitting documents. Afterwards, the funds received are credited to the account and you can take out a social mortgage.

According to a specialist in the field of social lending, in our time it is not easy for young families to buy an apartment with their own money, but they have every chance of getting it on a mortgage at minimal cost. Here the state took care of them. If you calculate the amount of government Support and maternity capital, you can easily cover half the cost of a decent two-room apartment. This is a program that exists for a reason! And it's worth using.

Senior Manager of Sberbank PJSC D.V. Zotkin

How to get a mortgage for an apartment for a young family: features of lending

Information on how you can get a mortgage for a young family can be easily found on bank websites or from employees of credit institutions. The process of obtaining a mortgage loan for a young family is not fundamentally different from other programs. There are specific features related to the family budget, composition, etc., for example, how to get a mortgage for a young family with a child, how to use maternity capital, is it possible to get a deferment, etc.

• Young families have a hard time finding money for a down payment. This is quite a large amount. There are now practically no mortgages without a down payment, or they have a higher interest rate and unfavorable lending conditions. Maternity capital can be used as a down payment after three years have passed from the date of receipt of the certificate. Almost all credit institutions accept such certificates.
• After the birth of a child, a young family who has received a mortgage can receive a deferment. Such benefits are practiced by many banks. After the birth of a child, the borrower brings the birth certificate to the bank and receives a deferment for 3 years, during which he pays only interest.
• The loan and subsidy can be used to purchase any type of housing: a house, an apartment on the primary or secondary market, housing under construction. Before you take out a mortgage on a house for a young family, you need to calculate your budget, income and monthly payments. The amount issued by the bank is limited.
• After the birth of a second child, a young family can use maternity capital to pay off interest and debt. You can use the certificate immediately after receiving it, without waiting for the three-year period to expire.
• After purchase, an apartment under the “Young Family” program is registered in the name of both spouses. The second one is a co-borrower. In the event of a divorce, the apartment remains the property of both spouses, but one can buy out the share of the other with his consent.

Necessary documents to obtain a mortgage

When everything has been seriously thought out and thought through, all that remains is to collect the documents for the bank to provide a housing loan. In the case of social mortgages and mortgages with state support for young families, the documents may differ.

So, in order to take advantage of a social mortgage, you need to collect the following documents:

• Application for assistance;
• Documents for registration of new registration in the purchased house;
• Certificate;
• An open bank account for the bank to transfer funds;
• Passport;
• SNILS;
• TIN;
• Employment history;
• Documents confirming participation in the program for lack of living space.

Documents for such a mortgage are collected after your turn in the program. After which the housing certificate is used and housing is purchased.

For a preferential mortgage with support for young families, you must provide the following documents for registration:

• Passport;
• SNILS;
• TIN;
• 2 personal income tax;
• Work record book indicating current place of work and length of service;
• Birth certificates of children;
• Marriage certificate.

After submitting the documents, the bank reviews them for issuing a mortgage loan within 2 weeks. If, after consideration, he is ready to issue funds, then the borrower is given 2 to 3 months to search for the apartment to be purchased and prepare the necessary documents. If it is not possible to meet the deadline, then the consideration of the mortgage begins from the very beginning.

Mortgage for a young family

This article will talk about how to get a mortgage for a young family, as well as the principles that should be followed so that spouses have the opportunity to repay the loan taken. This service is offered by the Young Family program, which issues mortgage loans to spouses under 35 years of age.

The presence of a minor child in the family requires making a 10% down payment of the entire amount. At the birth of subsequent children, loan repayment may be deferred until they reach the age of three.

In addition, the program provides a 2-year deferment during the construction of any real estate. It must be remembered that such a program in some cases may turn out to be not a benefit, but a profanity.

So, if the first payment is made in the amount of 10% of the total amount, then the family will provide for itself a very large percentage of payments. If the first payment is made at 50% of the cost of the apartment, then the initial rate will be relatively affordable. But not everyone has the required amount for such a down payment.

One of the main questions when taking out a mortgage loan is how the purchased apartment will be divided if the spouses divorce during the mortgage repayment period. There is a clause in the banking agreement that the spouses are equal owners of the property.

The mortgage is not converted into money and the purchased apartment cannot be sold, since it is pledged to the bank. Its sale is possible only with the permission of the bank. If the bank refuses to sell the apartment, divorced spouses are required to continue to repay the debt together.

In this regard, it should be remembered that the family may no longer exist, while the debts will remain.

For such situations, mortgage loan specialists advise young families to enter into an agreement on the division of joint property in advance. Such an agreement is written by hand and signed by both parties. Some banks currently require spouses to draw up a marriage contract so that in the future, due to unexpected situations, disputes and conflicts do not arise. As you can see, the “Young Family” program has its pros and cons, and therefore you need to think carefully before taking out a mortgage loan.

The interest rate for a mortgage loan in rubles is 11% (abroad 2-4%). Those who are concerned about the size of the monthly payment can choose a longer loan repayment term, which is 30 years. In this case, the payment amount will be smaller (while the minimum lending period is three months). For example, an apartment that costs 2.5 million rubles. with full use of maternity capital for a period of 30 years, has a monthly payment of 21 thousand.

rubles (at a rate of 11.5% per annum in rubles for a family with two children, in which one of the co-borrowers receives wages into an account opened with Sberbank). This amount can be comparable to the average rent for a rented apartment.

A reasonable question arises: isn’t it better to get your own home for the same money? Moreover, the cost of rented housing often increases, and the monthly mortgage payment, on the contrary, is fixed during the mortgage process and changes only towards its reduction in the case of long-term repayments.

A mortgage for a young family is a publicity stunt that has nothing to do with government subsidies. There are no loan fees in this program. To participate in it, it is not necessary to insure the life of borrowers.

For reference, the co-borrower and the guarantor are not the same person. A co-borrower is a person whose income is taken into account along with the borrower’s income. The guarantor takes responsibility and will pay the mortgage loan if the borrower cannot pay it on his own.

How can a young family get a mortgage in Moscow?

Mortgage conditions for a young family include the following points:

1. Spouses (or one of the spouses) must be under 35 years of age;
2. The marriage between borrowers must be officially registered. A single parent cannot get a mortgage;
3. The spouse must have all issues with the service resolved;
4. Not only the income of the couple, but also the income of the parents of each party can be considered as borrowers. In an incomplete family, additional income other than pensions is subject to accounting;
5. The loan can be deferred until the child is three years old or for the period of real estate construction for a period of 2 years;
6. Insurance;
7. Borrowers must have the income necessary to repay part of the amount exceeding the amount of the subsidy provided;
8. Having a positive credit history.

The subsidy issued to a young family can be used for:

• House construction;
• Acquisition of housing;
• Payments upon receipt of a mortgage loan down payment;
• Payment of interest on loans that were received earlier than the subsidy was received and repayment of the principal amount of the debt;
• Payment of the remaining payment received towards the payment of the first installment by borrowers who are members of a savings housing cooperative and for whom the residential premises were purchased by the cooperative.

The amount of the subsidy received is equal to at least 35% of the estimated cost of housing for borrowers who do not have children, and at least 40% for a couple with children (also for a single-parent family with 1 parent and 1 or more children).

The estimated cost of housing is calculated using the following formula:

StJ = Nm*Nst,

where StZh is the estimated cost of new housing, Nm is the standard footage (42 sq.m for a family that consists of two people, 18 sq.m for each member of a family that consists of 3 or more people), Nst is the standard cost of 1 sq.m. housing. At the same time, the standard cost per sq.

m is calculated for each municipal entity separately according to the methodology of the Ministry of Regional Development, taking into account prices on the housing market and the cost of construction in this entity. Find out what types of bank loans are so that you know what to look for, as well as what problems borrowers usually face.

We also advise you to familiarize yourself with the programs: mortgage without a down payment, Sberbank mortgage conditions, so that in the future there will be no problems with loan repayment.

Mortgage for a young family documents

In order to participate in the “Young Family” program, borrowers are required to submit the following documents to the local government authority at their place of permanent residence:

1. Passports of both borrowers;
2. Documents that confirm the positive financial condition of loan borrowers and guarantors (if any);
3. Certificate of employment of borrowers for the last six months in Form 2 of personal income tax;
4. Documents on the collateral that is provided;
5. Education documents, original and copy of the certificate of registration at the place of residence, as well as a request completed by the employer to confirm information about the income received by the borrowers;
6. An application written in two copies (one copy will be returned to the borrower indicating the date of acceptance of this application and the documents attached to it);
7. Documents with which you can verify the identity of all family members;
8. Marriage registration certificate (does not apply to single-parent families);
9. A document that confirms the recognition that a young family needs improved housing conditions;
10. Documents that confirm the recognition of the family as having sufficient income to pay the estimated cost of new housing in a part that exceeds the amount of the subsidy provided for it;
11. A copy of the financial personal account and an extract from the house register.

Useful tips

We bring to the attention of those who have decided to take out a mortgage loan information about what pitfalls may await you on the path to purchasing your own home:

• Read the clauses of the agreement and documents carefully, comparing the terms of the loan with your financial capabilities and future plans;
• Do not confuse the “Young Family” and “Affordable Housing for Young Families” programs;
• Before finalizing the mortgage agreement, consult with the manager about the total amount of the overpayment by calculating it. Ask to be provided with a debt repayment schedule before signing the contract;
• Remember about annual renewal, a clause that is included in the mortgage agreement of most banks. It lies in the fact that every year you have to prove to the bank your solvency by collecting certificates of borrowers’ income. In addition, the bank may require you to have life insurance in addition to your apartment. In this case, you will pay more money than you expected. It is strictly not recommended to deal with such banks, since if you cannot prove to the bank your solvency, you will lose both the apartment and the money that you have already paid;
• Pay special attention to interest charges, penalties, asterisked items, fine print, loan repayment terms, and mortgage loan fees. Read the contract carefully and recalculate all hidden interest on the calculator. If anything in the contract is not clear to you, you have the right to take the document home to study it in detail;
• If you are unable to pay the loan on time, write a written statement to the bank about the reasons for non-payment of the loan. Large banks with a strong reputation in such cases meet the debtor halfway and extend the repayment period of the mortgage loan.

Source: https://prostofin.expert/ipoteka/ipoteka-dlya-molodoy-semi/

Nuances of lending to young families by Russian banks

Getting a loan for a large business today is not a problem. But issuing a social mortgage to a young family can have certain difficulties. Not every financial institution is ready to provide such a loan.

When considering such a request, most banks will require guarantors, asking the client to pledge his property. Such actions are motivated by the fact that a newly formed family is not considered trustworthy. The size of the spouses' salary is also a very important factor.

What are the requirements for the borrower?

The assessment of the borrower's prospects is determined by each financial institution based on personal criteria. Often there are no exceptions even for those couples who take part in government programs for obtaining subsidized housing.

Having co-borrowers, who can be friends or parents, will increase your chances of receiving funds. Most banks put forward the following mortgage conditions for a young family:

• age over 21 years;
• work experience is more than one year;
• availability of Russian registration;
• the marriage was concluded at least a year ago;
• the borrower's solvency is confirmed by certain documents;
• have a positive credit history.

Documents for obtaining a mortgage

Participation in government projects is impossible without collecting certain certificates. They are provided by municipal authorities. In addition to copies, originals must be submitted. The application is submitted in the presence of both spouses - this rule is mandatory. To be able to participate in the program, you must provide the following documents:

• a statement that is written in a special form (two copies must be made);
• a copy of the marriage certificate;
• a copy of the personal account (can be opened for free at the bank where the spouses want to take out a loan);
• registration documents or other papers that confirm the right to participate in the state program (to obtain them you need to contact the MFC);
• income certificate (issued free of charge by the employer);
• extract from the house register;
• copies of real estate documents (these can be obtained from the apartment owner or developer);
• identification card of each spouse and other papers that confirm eligibility for participation in the government program.

Conditions

To receive appropriate mortgage benefits, newlyweds must have a special certificate in their hands. But even if it is available, the conditions for issuing a loan remain quite strict:

1. The down payment must be at least 10% of the value of the property. In some cases it reaches 20%.
2. It is almost impossible to get a loan without a credit institution presenting co-borrowers who can guarantee the payment of funds.
3. If a child is born in a family, then in most cases this event is a sufficient basis for obtaining a deferment on payments. Usually it is a couple of months.

Bet size

Any mortgage involves a significant overpayment compared to the original cost of the property. Interest-free loans exist only as a PR stunt. Each bank has its own interest rate on the loan. In this case, you need to rely on the following rules:

1. The smallest overpayment is ensured if the down payment is 50%.
2. The maximum loan rates apply for a down payment of 10%.
3. The government program allows you to reduce mortgage interest rates. Thus, it is possible to achieve a minimum rate of 8.9%.

Payment repayment schedule

The schedule and amount of payments are determined for each client individually. The following factors may affect payments:

• loan terms;
• the amount of the down payment;
• amount of credit;
• availability of benefits for the borrower, etc.

Upon the birth of a child, it is possible to change the terms of the mortgage within the framework of the state program. In such cases, a young family has the right to receive an additional subsidy.

In case of evasion of payments, penalties may be charged and subsequent seizure of the borrower's property. The fine is 1% of the loan amount. If financial difficulties arise, the family has the right to receive a deferment on payments. To do this, you need to provide documents that confirm the presence of financial problems.

How to get a mortgage loan

To apply for a program, you need to select an institution and a product. To determine the most profitable option, carry out a calculation taking into account the interest rate, period, loan volume and additional fees. To apply for a mortgage, use the instructions.

• Select one or more programs.
• Filing an application. You can submit a preliminary request online. To do this, you need to fill out and submit a form.
• After receiving the result, you should collect a package of documents, including real estate.
• Visiting the branch, submitting an application and papers.
• After reviewing the request, which lasts several days, you need to sign an agreement.

Read the text of the agreement carefully. Pay attention to the main parameters, including the amount, rate, penalties in case of delay.