Mortgage with maternity capital at VTB Bank: registration conditions, basic requirements for borrowers, list of documents, pros and cons

Maternity capital - what is it?

A social assistance program called “maternity capital” was introduced in the Russian Federation on January 1, 2007. From this date, families with a second, third or subsequent child were eligible to receive financial support from the state. This applies not only to parents, but also to adoptive parents.

But from 01.01.20 maternity capital will be issued at the birth of the first child, and at the birth of the second and subsequent ones, its amount will be increased by 150 thousand rubles.

Those who have not previously used this program can apply for benefits. If a family received maternity capital for the birth of a second child, when the third child is born, it can no longer be issued.

It should be noted that in order to receive payments, the child must be a citizen of Russia.

In 2020, the amount of maternity capital is indexed and amounts to 466,617 rubles. It is issued in the form of a personal certificate in the branches of the Pension Fund of the Russian Federation.

The procedure for repaying a mortgage with maternity capital

Banks are required to accept maternity capital as payment for part of the mortgage. But in practice, refusals are possible, since most financial institutions do not position their mortgage “products” as a public offer. This means that the bank itself has the right to choose who to give a mortgage to and who to refuse due to various circumstances.

Contacting the Pension Fund

• Paying off the mortgage in full is important when the loan was issued before the birth of the 2nd or next child, or when the mortgage amount was initially small.
• Reduce the size of monthly payments (this is possible with annuity payments). The mortgage term will remain at the same level.
• Reduce the loan payment period while maintaining the same monthly amount.

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Transferring capital to form your future pension is also the height of frivolity, since the Pension Fund manages contributions ineffectively, as a result of which they depreciate under the influence of inflation.

It is a state benefit paid from the country's federal budget to families with two or more children. This amount can only be used for the intended purpose: for pensions, for improving living conditions, for education. The right to receive family capital arises immediately after the birth of the mother’s second child. However, according to the law, a man can also receive capital in certain cases prescribed by law, for example, if the mother died or was deprived of parental rights, or the man is the sole adoptive parent of a second and subsequent child. You cannot receive matkapital in cash, since it cannot be transferred to a specific person. The fund directs it exclusively to company accounts, depending on how the owner decides to use it. To obtain a certificate you need:

Loan from VTB 24 with participation of maternity capital.

• Give birth to (adopt) a second child.
• Contact the territorial body of the Pension Fund of the Russian Federation
• Present a passport, birth (adoption) certificate, documents confirming the citizenship of the newborn and his registration, and write an application for the issuance of a state certificate.
• A decision is made within a month to grant or refuse benefits.

• online application involves submitting an application via the Internet and receiving a bank decision online;
• Online registration of an appointment for a consultation. The questionnaire will be filled out at the bank office with the help of a loan specialist;
• filling out an application at a bank branch.

Legislative framework for mortgages involving maternal capital

The issuance of any benefit is regulated by regulations. With regard to the use and receipt of maternity capital, a number of orders of the Ministry of Labor and Social Protection of the Russian Federation, as well as Government resolutions, were adopted. However, the key regulatory act in this matter is the Federal Law of December 29, 2006 No. 256-FZ “On additional measures of state support for families with children.”

According to Federal Law No. 256, the following obligations are imposed on the Pension Fund of the Russian Federation:

• accepting documents from applicants for capital;
• control of their reliability;
• working with citizens when requesting capital funds;
• allocation of federal budget funds.

VTB 24 Bank, like any other lender, is obliged to take into account the legislative framework when applying for a mortgage using maternal capital. Internal banking regulations when carrying out such an operation must be developed taking into account the regulations of the Russian Federation.

Maternity capital is now accepted at VTB 24

VTB 24 accepts maternity capital funds as a down payment. When the mortgage agreement is signed, you can begin registering real estate ownership with the relevant government agencies. Next, the property is insured, and the full package of documents for it is transferred to the bank. Next, the credit institution transfers the money for the property to the account of the construction organization or other seller. The maternity capital subsidy is transferred directly by the Pension Fund to the bank at the request of the certificate owner.

After reviewing the client’s package of documents, as well as assessing his financial situation, solvency, and credit history, the bank makes a decision to refuse or approve the mortgage application. If the answer is positive, the bank employee begins to draw up a mortgage agreement and draw up a payment schedule. The contract will contain separate clauses regarding the use of the maternal certificate.

Banking requirements for borrowers

The requirements for applicants for a mortgage using maternal capital are no different from those that apply to all other applicants. The future borrower must meet the following parameters:

1. Age ranges from 21 to 60 years for women and 65 years for men. The maximum age limit is indicated at the end of the loan agreement.
2. Availability of permanent income, confirmed by relevant certificates.
3. Work experience at the last place of work is at least 4 months, total - from one year.
4. Permanent registration in Russia.

As for the usual requirement of Russian citizenship, this financial institution does not apply. You can get a housing loan even if you do not have citizenship in the Russian Federation. In addition, in order to receive a loan from VTB 24 for maternity capital, permanent registration in the region of circulation is not necessary.

Mortgage in VTB 24 with maternity capital - lending programs, conditions and registration

1. Payment of the current mortgage amount and interest on it. This option is perfect for those clients who have taken out a mortgage to purchase a home before the birth of a child. They get the right to close their mortgage obligations ahead of schedule and thus lose less of their own funds.
2. Combining maternity capital funds with a mortgage being issued for the first time and using them as a down payment, so as not to attract your own funds at the initial stage of paying off the mortgage.
3. Combining maternity capital funds with a mortgage being issued for the first time, using them together with one’s own savings so that the bank can consider a larger amount for issuance, and accordingly clients can count on purchasing more expensive real estate.

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• Original and copy of the certificate for the use of maternity capital;
• A certificate about the amount of funds in the family capital account and the possibility of using them, issued by the Pension Fund;
• Certificate of income of the established form for the last 6 months;
• Documents on the income of close relatives living in the same territory before purchasing real estate with a mortgage;
• A copy of all pages of the client's passport.

The process of obtaining a mortgage for capital in VTB 24

Most often, applicants are interested in how to get a mortgage using maternity capital from VTB 24, because having a certificate requires applying not only to the bank, but also to the Pension Fund. The first step will be to obtain the certificate itself from the Pension Fund and an extract from your account to provide to the bank.

The subsequent process looks like this:

1. Collection of documentation for the lender.
2. Selecting a program and applying for a loan. The available proposals can be divided into two areas: the purchase of finished housing and an apartment in a new building. A mortgage for the construction of a house with maternal capital is not issued at VTB 24, since the organization does not have such a program.
3. Selection of real estate after receiving a positive decision. The bank allows up to 60 days for this.
4. Collection and submission of documents on the apartment for consideration of the selected object by the bank.
5. Signing a loan agreement.

This is a standard procedure for applying for a home loan. Then follows the repayment of the mortgage at VTB 24 with maternity capital. To do this, you need to contact the Pension Fund with an application to transfer funds under the certificate to your bank account. The application is considered within 30 days. After an affirmative response from the Pension Fund, the same period will be required to complete the transaction.

If the loan is closed completely using matkapital, then you need to contact the bank again for a certificate of mortgage repayment, pick up the mortgage and remove the encumbrance from Rosreestr. After this, the apartment owner has 6 months to register a share for the children. This is a mandatory condition for attracting maternal capital when applying for a mortgage.

If the loan is partially repaid, you only need to obtain a new payment schedule from the bank, according to which you will continue to pay the debt. At VTB 24, with partial early repayment, the monthly payment amount is reduced, but the borrowing term remains the same.

Application methods

At the moment, an online application for a mortgage against maternity capital cannot be submitted to VTB 24, although there is a link to filling out the application on the lender’s official website.

The most popular way is still to contact a bank office. With a package of documents, the applicant turns to the credit manager, with the help of whom he fills out the application form. After that, he waits for 3-4 days. During this period, the applicant’s solvency and the accuracy of the information provided are checked.

Through the State Services portal

Of course, you won’t be able to apply for a mortgage at VTB 24 using the State Services portal, but you can use it to apply for a maternity capital certificate. This will save the client from spending a long time in queues.

Required Documentation

The following package of documents must be provided to the bank:

1. National passport.
2. Original and copy of the certificate for maternal capital.
3. Certificate from the Pension Fund about the capital balance.
4. Papers confirming the borrower's earnings and employment. VTB 24 accepts both the 2-NDFL certificate and its analogue, issued in the bank’s form.

After issuing the loan and registering ownership of the apartment, you need to collect a set of documentation for the Pension Fund. Documents for repaying a mortgage with maternity capital:

1. National passport.
2. Capital certificate.
3. A loan agreement that specifies the account details of the transfer borrower.
4. Certificate from the bank about the existence and amount of debt.
5. Contract of sale of an apartment.
6. A notarial obligation, according to which the borrower is obliged to allocate shares to all family members (spouse and children) after full repayment of the loan.
7. Application for claim of capital funds.

How to spend maternity capital on a mortgage

If the pension fund refuses to transfer funds, the decision can be appealed. You must also file a complaint with the Pension Fund of Russia - it will be reviewed by the head of the department or a special department. If the problem is with the paperwork, the answer will come in five days. If something is wrong with the maternity capital - in 15.

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How to repay a mortgage loan with maternity capital

1. Maternity capital certificate or its duplicate.
2. Borrower's passport.
3. SNILS of the borrower.
4. Marriage certificate.
5. A copy of the loan agreement.
6. Certificate from the bank confirming the issuance of a loan.
7. A copy of the real estate purchase and sale agreement.
8. An extract from the Unified State Register of Real Estate, which confirms the borrower’s right to housing.
9. A copy of the registered agreement for participation in shared construction or a copy of the permit for the construction of your house, if it has not yet been put into operation.
10. Notarial obligation to re-register housing as the common property of mom, dad and children.
11. A document that confirms that the bank paid for the purchase of a home, for example, a statement of account from the seller.

Absolutely any family with more than one child has the right to receive maternity capital. Thanks to a certain package of documents, you can purchase real estate or make an extension to your house. Our bank created this offer six years ago. At VTB 24, a mortgage and maternity capital, as a down payment, can be issued subject to certain conditions.

How to use capital

You can spend the funds specified in the certificate only for a limited list of purposes. These include:

1. Improving living conditions.
2. Getting a child's education.
3. Formation of a funded pension for the child’s mother.
4. Social adaptation of disabled children.

Living conditions can also be improved by attracting credit funds. In this case, both the purchase of a new building on credit and a mortgage on secondary housing with maternal capital are allowed. The legislation provides for the use of the benefit even after the certificate program is completed.

About the program “Mortgage + maternity capital”

This targeted mortgage program with maternity capital from VTB24 combines the advantages of two types of loans at once: “Resale Housing” and “New Building”. This choice of loan products, taking into account their conditions, was not made by chance. After all, judging by inexorable statistics, the first type is more acceptable for families with children. And the second type of housing loan allows you to purchase real estate at an early stage of its construction at a more affordable price.

The conditions under which a mortgage with maternity capital from VTB24 is provided give the borrower the opportunity to choose an object from the bank’s partner organizations (construction companies or real estate agencies) or choose suitable housing on their own. In addition, you can purchase an apartment or even a private house at market value, which is pledged to this financial institution. This option is advantageous because the property has already been checked for legal purity.

It should also be noted that the banking product “Mortgage plus maternity capital” at VTB24 is characterized by flexible conditions for obtaining a loan. For example, if the down payment is at least 35%, it is possible to draw up a loan agreement without proof of income. In addition, the borrower has the right to refuse insurance against risks, such as loss of ownership of real estate or loss of ability to work. But at the same time, the interest rate will necessarily be increased by no less than 1 point.

Matkapital as a starting payment for a mortgage

VTB 24 makes it possible not only to repay a loan with a certificate, but also to use maternity capital as a down payment. The minimum starting payment at this financial institution varies from 10 to 20%, depending on the chosen program.

To transfer the contribution benefit, all the same actions are applied as for repaying an existing debt. Only they need to be implemented not after signing the contract, but at the time of submitting the application.

Is it possible to pay off a mortgage with maternity capital?

• the focus of the loan is to improve the condition of housing in families;
• the location of the residential premises is the territory of the Russian Federation;
• the right to be borrowers belongs to both the wife and the husband if the marriage is officially registered;
• registration of the purchased apartment or house as joint ownership, since assistance from the state is the common property of the family;
• the share of children is determined by the parents;
• parts of the apartment registered in the name of minors are approved by a notary.

• pay the down payment on a mortgage or loan;
• pay off interest on a home loan;
• pay the loan in part (the mortgage is issued for the full cost of the living space).

Important! Banks providing secured loans are required to accept MK funds as mortgage repayment.

Interest calculator

On the bank's official website there is a convenient calculator that allows you to calculate the amount of the monthly payment based on the indicated cost of the apartment and the expected borrowing period. The interest rate for the entered conditions is also indicated there.

For borrowers receiving wages on a VTB card, a discount of 0.3% is applied to the base rate. For doctors, teachers and government employees, the discount is 0.5%. The minimum interest rate on a mortgage at VTB 24 starts at 8.4% per annum.

Mortgage with maternity capital at VTB 24 bank

The decision to issue maternity capital is made within one month. If the funds were nevertheless allocated to the family, then they can spend them only in accordance with the prescribed rules. This also includes a loan for maternity capital from VTB 24 for the purchase of housing.

1. To repay an existing debt on an apartment loan (payment of the principal amount, only the remaining interest, or all together).
2. As a down payment for a mortgage on a purchased home.
3. To increase the total loan amount to buy an apartment more than your salary allows.

VTB 24: mortgage and maternity capital

1. Age restrictions: from 21 to 60 years. An essential condition is the fact that at the time of termination of loan obligations the borrower should not be more than 75 years old.
2. Availability of rights to manage maternity capital funds. The manager of family capital can be one of the child’s parents, despite the fact that the capital is still maternal. Accordingly, either spouse can be the main borrower.

1. Passport or other document to confirm the applicant’s identity.
2. Education documents.
3. A copy of the work record book and employment contract. The documents must be certified by the employer on each page (signature and seal).
4. Confirmation of income for the last six months (2-NDFL, account statements).
5. If there are other loan obligations, it is necessary to provide copies of loan agreements for them.
6. Copies of documents for owned property.
7. A complete package of documents for the purchased property.
8. Certificate for family capital and a certificate from the Pension Fund about the balance of money in the family account.