Conditions of a loan for maternity capital. Terms of a loan for maternity capital Organizations issuing loans for maternity capital

Every year the state offers new programs that allow you to purchase housing in new buildings and on the secondary market on the most favorable terms. Housing programs have their own conditions and requirements.

Dear readers! The article talks about typical ways to resolve legal issues, but each case is individual. If you want to know how solve exactly your problem- contact a consultant:

APPLICATIONS AND CALLS ARE ACCEPTED 24/7 and 7 days a week.

It's fast and FOR FREE!

A housing loan is one of the few offers that allows you to buy housing with government support.

What it is

This type of lending is based on providing a specific amount of money that can be spent on purchasing an apartment in a building under construction or on the secondary market. Depending on the chosen housing lending program, the state allocates a certain amount of funds that can be spent on purchasing housing or paying off mortgage debt from a bank.

Not everyone can take advantage of a housing loan, but only a category of citizens belonging to a preferential category or with an income below the minimum wage. Housing loans can be issued by both government authorities and any other organizations that have the necessary permission and license to provide such a service.

The loan term does not exceed 10 years. Early repayment can be made at any time without penalties or commissions. The borrower repays only the principal debt.

The main terms of the loan are regulated by the targeted loan agreement. According to the document, money issued by the state can only be spent on solving the housing problem.

Where can I get it?

For a long time, Russian legislation has provided for a large number of social programs that provide the opportunity to buy housing at preferential prices.

The following categories of citizens can apply for a targeted loan:

• young families under 30 years of age;
• families with two or more children;
• disadvantaged families;
• combatants and WWII veterans;
• people with disabilities;
• military families;
• heroes of the Russian Federation and the Soviet Union;
• civil servants and public sector workers.

Of course, you need to contact trusted organizations that have the right to work with government programs.

Several credit organizations are leaders in issuing housing loans.

Name of the organization	Interest rate	An initial fee	Duration (years)
Sberbank	From 11%	From 20%	Up to 30
Bank of Moscow	From 13.5%	From 20 – 40%	Up to 50
VTB 24	From 11%	From 10 – 20%	Up to 50
Nomos Bank	From 13.7%	From 10%	Up to 20
Unicredit	From 11%		Up to 30
DeltaCredit	From 10.25%	From 5%	Up to 25

First, you need to fill out a form containing all information about the borrower, including personal data, income level, place of residence and work. Then a complete package of documents is collected.

It may vary slightly in each organization. You can find out about the possibility of obtaining a housing loan at the regional housing department or the Multifunctional Center at the place of registration.

The main list of documents should include the following certificates:

• statement;
• forms 9 and 7;
• a copy of the passport of all pages;
• certificate of income received, issued in the form of the employer or 2-NDFL;
• a copy of the marriage certificate;
• certificate of family composition;
• copies of children's birth certificates

After submitting all the documents, they are sent to the housing committee, which will decide on the issuance of compensation.

Video: Housing Construction Savings Bank

Housing loan for maternity capital

Since 2007, families where the second and subsequent children were born have the opportunity to receive a subsidy in the form of a maternal certificate in the amount of 453,000 rubles (as of 2018).

The main nuances of its use include:

• Cash cannot be withdrawn;
• can be spent on improving housing conditions, including changing housing or buying a new one, through a mortgage loan or construction;
• there is no need to wait three years to use the certificate.

Any fraud related to the depersonalization of certificates is prosecuted by law and is a criminal offense. Loans for maternity capital must be targeted. This means that the loan agreement must indicate a specific direction for the use of funds.

Thus, when purchasing a home, the borrower indicates that maternity capital funds are needed for a mortgage, participation in shared construction or construction on their own.

Purposes of use

A housing loan received under the state program can be spent on the following purposes:

• repayment of debt on an existing mortgage loan;
• acquisition of new, under construction or secondary housing.

The agreement must indicate the intended purpose of the funds received. The pension fund, before transferring the amount of maternity capital, conducts a thorough check to ensure the intended use of these funds.

Terms and documents

Before taking part in obtaining a housing loan, the borrower must meet specific requirements and be able to submit a certain list of documents:

• be a participant in a program that provides for the issuance of a loan by the state for the purchase of real estate;
• stable income, confirmed by a 2-NDFL certificate;
• TIN and SNILS;
• marriage and birth certificates for all children;
• lack of repeated application for the right to use benefits from the state;
• provision of documents confirming participation in shared construction, the presence of maternity capital or lack of “Young Family” status.

Each state program that provides for obtaining a housing loan has an individual list of documents and conditions for obtaining the right to use it and participate in it.

Working pensioners who receive wages on a Sberbank card have the opportunity to obtain a mortgage at a reduced rate of 11%. Also, if the borrower’s income decreases by more than 30%, he also has the right to reduce the amount of overpayment on the housing loan.

Registration and delivery

The procedure for obtaining maternity capital funds for the purchase of real estate occurs in the following order:

• searching for suitable housing that meets all safety standards and sanitary and hygienic requirements;
• coordination of the conditions of financial organizations issuing loans against maternity capital;
• collection of all documents;
• submitting an application to the Pension Fund or the Multifunctional Center;
• awaiting a decision on the application.

After agreeing on all the details, the Pension Fund transfers the funds to the account of the financial organization. If dishonest actions on the part of the owner of maternity capital are detected, the issuance of funds may be refused.

Redemption

The government-issued subsidy, in the form of a certificate or a separate loan, goes towards repaying the principal of the debt, not interest. As a result, the size of the borrower's principal debt is significantly reduced. This will reduce the percentage of overpayment on the loan and quickly repay it.

Size

The amount of the state subsidy directly depends on the program under which it is provided:

• maternity capital – indexing of this amount is suspended for now;
• for a young family with children at least 35% and without children at least 30% of the cost of housing.

The size of the subsidy, the cost per square meter of real estate and regional coefficients are always taken into account when calculating the subsidy. The amount of subsidies provided for the purchase of housing is annually indexed depending on the current level of inflation in the country.

Paying off debt

When receiving a housing loan, even when attracting a government loan, the remaining part of the debt is subject to repayment according to the conditions stipulated by the loan agreement. A payment schedule is drawn up, a current account is indicated where a fixed amount of funds must be transferred.

If the money does not arrive on time, the lender has the right to charge interest and penalties. In more serious delays exceeding several months, the lender may go to court with a demand to foreclose on the purchased property and completely terminate the contract.

Interest rate and the possibility of its compensation

Government subsidies are provided free of charge, however, when participating in some real estate purchase programs, certain nuances are possible:

• upon early dismissal of a serviceman, all his savings provided for by the NIS program are subject to immediate return to the federal budget. If the return period is violated, then additional interest is accrued for each day from the date of dismissal, which is also subject to payment;
• The state compensates the mortgage interest paid by borrowers. The so-called tax deduction for mortgage interest is provided in the amount of interest up to 3 million rubles.

Only in individual cases and in cases of gross violation of the law, the state can collect a penalty from the borrower. However, a citizen of the Russian Federation can use the subsidy once.

As you know, maternity capital is one of the most popular forms of state support for Russian families raising children. At the same time, a loan cannot be obtained in the form of cash (in cash), so maternity capital is usually used as one of the most popular types of lending to young families.

Today, maternity capital can be used for purposes such as:

• improvement of living conditions;
• getting an education;
• solving serious health problems.

Take a loan for maternity capital

This type of loan, or, as it is also called, collateral against a family certificate in cash, is most often taken to change living conditions for the better. Today, there are three options for using a family certificate to purchase housing:

• payment of a down payment on a mortgage loan;
• repayment of interest, as well as debt on purchased housing;
• an increase in the loan amount by the loan amount in a situation where a home is purchased at a higher cost than a young family can legally afford.

So a loan for maternity capital can become a serious support for a family dreaming of purchasing a home or maximizing their living conditions.

Cooperatives issuing loans

Typically, such significant amounts as a loan for maternity capital are issued by banking organizations, but recently people are more often turning to consumer credit cooperatives (CCCs), which are ready to issue a targeted loan against a family certificate. The fact is that these cooperatives are much more loyal to clients, although some of them require the provision of collateral until the money is transferred by the Pension Fund.

Drawing up an agreement with the CPC is quite simple: after choosing a suitable object, an agreement is signed for several months. During this time, the money is transferred to the cooperative’s accounts, so the borrower pays interest, in fact, only for these two to three months.

How to get a loan for building a house?

By law, maternity capital can be used only after 3 years after the birth of a child, but if the living conditions are not very good, this period may rightfully seem like an eternity. Therefore, most often, another option is chosen for building a house, according to which a loan is issued and the construction process begins.

After this, an application is written to the pension fund with a request to transfer funds to pay off the debt for building a house. In this situation, the law provides for the possibility of claiming maternity capital before the child turns three years old.

Loan for maternity capital in Sberbank conditions

This type of loan can also be taken from Sberbank, which sets its own specific conditions. These include the following:

• issued at the request of one of the spouses;
• housing is registered as the property of the borrower or the common shared property of the spouses;
• if the borrower's salary is not paid by Sberbank, then the potential borrower must provide documents that confirm his financial condition.

In addition, Sberbank is one of the few banks, which also includes Rosselkhozbank, where you can take out a loan against maternity capital in cash. So it’s definitely worth trying to do this, be it Chelyabinsk, Orenburg, Voronezh, Novomibirsk, Pervouralsk, Kurgan, Shadrinsk or Kansk. Although it is necessary to understand that this is not some kind of consumer loan for an individual or legal entity.

What do financial institutions around the country offer?

In the country as a whole, the conditions for taking out a loan this year for maternity capital are approximately the same. Therefore, regardless of where to take out what is essentially a mortgage loan: in Krasnoyarsk, Tobolsk, Tula, Nizhny Novgorod, Kemerovo, Saratov or Orel, the conditions are practically no different.

Cashing: Is it possible to get money in cash?

As mentioned above, not every bank issues a cash loan against maternity capital. Therefore, both Sberbank and Rosselkhozbank, when issuing it, require a certificate for maternal capital, as well as a notification issued by the Pension Fund about the balance of funds.

The easiest way to get such a loan is in Russian cities such as Yekaterinburg, Chita, Tyumen, Krasnodar, Stavropol and St. Petersburg. On the other hand, in Novokuznetsk, Abakan, Rostov-on-Don, Simferopol, Belgorod, Kaliningrad or Ulyanovsk, this procedure is more difficult.

If the borrower urgently needs to cash out the required amount, and even without a certificate of income, then there is simply no better option than Ivanovo, Barnaul, Perm and Khabarovsk.

Loan for maternity capital reviews

Today, more and more people are trying to take out loans against capital to build a house or buy an apartment. This is evidenced by numerous reviews of people living in Moscow, Samara, Pskov, Vladimir, Tyumen, Tomsk, Irkutsk or even Kyzyl, who took advantage of this opportunity.

Where can I get cash loans?

As mentioned above, they can be obtained from certain banking and other financial institutions. How such a loan is issued for maternity capital and what specific documents are needed can be found out where it will actually be issued.

Cash loans against maternity capital are an affordable way for a large number of families to transform their living conditions or purchase a house or apartment. However, not everyone can use such a loan, which is due to strict restrictions on the part of banks.

They include the need for an official employment, the presence of a basic income, which must be documented, and a “clean” credit history.

What it is

Maternity capital is a form of assistance to families raising children. This measure relates to state support, which came into effect on January 1, 2007.

Maternity capital is paid after the birth of the second and subsequent children, or after their adoption.

Conditions for receiving assistance:

• presence of Russian citizenship;
• refusal of other state family assistance programs.

In 2014, maternity capital is equal to 429,408 rubles.
Obtaining a certificate of maternity capital and the period of its use are not limited by time.

Is it legal to borrow money against maternity capital?

A loan for maternity capital is a completely legal procedure that has some restrictions.

In accordance with the Decree of the Government of the Russian Federation of 2007 No. 862, capital can be used:

• for the purchase or independent construction of a house, carried out by citizens of the Russian Federation by concluding transactions and agreements that do not contradict this legislation;
• all capital or a certain share of it can be spent on improving living conditions, reconstruction, and repairs.

It follows from this that those loans for maternity capital that were taken for the purchase or construction of housing, as well as the reconstruction of an existing place of residence, will be legal.

In this case, the following conditions must be observed:

• the purchased residential premises must be located on the territory of the Russian Federation;
• Housing purchased using a loan for maternity capital is registered as the property of not only the parents, but also their children.

Since 2009, funds or part of maternity capital funds are allowed to be used as:

• down payment on a mortgage, if it is needed for renovation or purchase of a new home;
• for the payment of principal and interest thereon, if the funds received were used to fulfill the above purposes.

According to Part 6 of Article 10 of the Federal Law of December 29, 2006. No. 256-FZ confirms the possibility of using maternity capital for the above purposes.

How and where to receive funds

You can repay the loan through the Russian Pension Fund. The pension fund, instead of the borrower, makes monthly payments based on maternity capital, and notifies the certificate holder about this.

In order for the loan to be repaid using this method, the owner of the maternity capital must write an application to the territorial office of the Pension Fund of the Russian Federation. A certain package of documents must be attached to it.

The only disadvantage of this payment method is that the certificate holder will have to contact the Pension Fund every month.

In accordance with the Federal Law, maternity capital will not be used to pay penalties or penalties for late monthly payments.

In the case where full payment of maternity capital is required (as a down payment), you will need to write an application to the Pension Fund and attach all mortgage documents confirming the legality of intentions. The Pension Fund may require additional documents.

The pension fund reviews the application within three months.

What documents and information need to be submitted?

To obtain a loan for maternity capital, you need to collect several packages of documents.

Applying to the Pension Fund for issuing a certificate requires the following documentation:

1. Applications (it is provided to the Pension Fund of Russia, filled out on the spot).
2. Identification documents of spouses (passports), birth certificates.
3. Insurance certificate for all family members.
4. Copies of marriage certificate.

When contacting the Pension Fund to transfer funds to the borrowed account, the following documents are required:

1. An application that will be issued on site.
2. Passport.
3. Maternity capital certificate.
4. SNILS of the person who holds the certificate.
5. Documents on the purchase of housing.
6. Consent previously certified by a notary.
7. A certificate received from the bank about the amount of debt at the moment. It is important to ensure that the purpose of the agreement is stated.

You can take out a loan from a microfinance organization that provides such services. They are required to present the following documents:

• maternity capital certificate;
• children's birth certificates;
• passport of the certificate holder and spouse (if the marriage was officially concluded);
• INN of the certificate owner;
• SNILS.

Some organizations may require documents for the purchased property.

These include:

• a certificate confirming ownership of a specific object or its share;
• technical passport for a registered property, if it was purchased on the primary market.

Companies providing this type of loan:

Name of bank/MFI	Banking program	Short description	Rate as a percentage
DeltaCredit	Delta Economy	Ruble form of loan with a fixed rate. The program is suitable for purchasing a home if you have ownership rights.	From 13%
DeltaCredit	DeltaStandard	The loan is issued in dollar currency. Combined rate. It can be used to purchase an apartment on the secondary sales market.	From 9 to 11%
DeltaCredit	DeltaRublevy	Loan in rubles. The interest rate on it varies depending on the size of the loan.	From 11 to 13%
UniCredit	Loan to buy an apartment	This program allows you to increase the loan size by the part that is maternity capital.	11,2-13%
Sberbank	Purchasing housing during its construction.	A mortgage with a set rate. The longest payment period reaches 12 years. The down payment amount is at least 12%.	12%
Sberbank	Purchase of a built house (apartment)	The loan can be issued in dollars or rubles. Issued for a period of up to 30 years.	12-13%
Bank of Moscow	Loan with full payment of maternity capital	A loan in rubles, the use of which can be used to purchase a place of residence that is under construction. Maternity capital is required to pay the first installment.	11,9%
VTB 24	To purchase housing on the secondary market	A loan agreement between an individual and a legal entity is carried out in accordance with the acquisition of a place of residence on the secondary sales market	11,98%
Bank opening	Mortgage together with maternity capital	Fixed interest rates. A ruble loan, the issuance of which provides for the purchase of housing in a new building or on the secondary market.	From 8%
Nomos Bank	Apartment together with maternity capital	The purpose of the loan is to buy housing on the market using maternity capital. It acts as an initial investment.	From 12.25%
RegionFinance	Loan for maternity capital	Loan with a minimum set of documents. The application review period is up to three days.	From 10% to 17%
Finance City	Loan for maternity capital	Loan with a floating interest rate. Issued in rubles. Repayment period up to one year.	From 11% to 16%

Registration procedure

A loan for maternity capital is a procedure that is carried out using two methods:

• using capital as a down payment;
• take out a loan (pay the down payment yourself), and cover the rest of the debt with capital.

Procedure for using maternity capital as a down payment:

• receive a certificate that confirms the presence of maternity capital. Choose the type of housing that can be purchased with a loan;
• draw up a purchase and sale agreement, visit the bank with the collected documentation package;
• wait until the organization considers the loan application;
• After approval, a preliminary letter is issued. Together with it, you need to contact the Pension Fund so that the capital funds are transferred. In this case, it is necessary to request a certificate of the amount of capital;
• apply for a loan from a bank, provide copies of all mortgage documents to the Pension Fund.

To repay the principal and interest on it, you must follow the steps below:

• receive a certificate confirming the availability of maternity capital. Choose housing that can be purchased with a loan;
• contact the bank, request a certificate about the remaining loan amount and interest on it. A copy of the capital certificate must be attached to the application;
• apply to the Pension Fund for the transfer of capital to a bank account to repay a housing loan.

How to avoid falling for scammers

Today, you can get a loan against maternity capital not only from commercial banks or state-owned companies, but also from microfinance organizations. They specialize in issuing cash loans to the population.

In this case, the loan application process is significantly simplified, since the borrower will not need to provide certificates of official income or pay a down payment.

However, such organizations often turn out to be scammers. In order not to fall for their bait, it is recommended to carefully select an organization.

You should not immediately agree to a loan to an individual from a legal entity, even if it offers the most favorable terms.

To avoid falling for scammers:

• before signing the contract, you must carefully read each line and pay attention to the small print;
• study the interest rate, the amount of loan insurance;
• try to find out as much as possible about the company. If possible, communicate with clients;
• Do not give away any documents before signing the contract.

Using maternity capital is a profitable solution for many families. The only thing worth considering is the need to indicate the specific purpose of taking out a loan.

Video: loans for maternity capital

There was a joyful event in the family of Alexander and Elena: a second child was born - a son, and now the parents have twice as much worries. As you know, since January 1, 2007, the state has been actively encouraging such conscientious citizens as our heroes, rewarding them with a substantial sum of money (in 2014 - about 430 thousand rubles). But, as you know, you can receive the treasured capital only when the child is 3 years old. But what if you need money now? Is it possible to get a loan for maternity capital and how legal is it? What does the state allow the allocated amount to be spent on?

To answer all his questions, Alexander signed up for a consultation with a lawyer, and here are the actual answers he received to his questions.

What is maternity capital?

Family capital, which is also called maternal capital, is a set amount of budget support allocated at the birth of a second child and subsequent children to Russian citizens, starting from 01/01/2007. All legal nuances were regulated by the Federal Law of December 29, 2006 N 256 “On additional measures...”. To receive funds, you need a special personalized certificate, which is issued to the parent (in some cases, the guardian). This document is submitted to the territorial body of the Pension Fund with the corresponding application.

What options are there for using family capital?

1. (improving living conditions);
2. Payment for education for a child;
3. Accounting (the most unpopular form).

When can maternity capital be used?

As a general rule, money is available only when the child reaches 3 years of age. But if we are talking about repaying a loan (interest on it) for the purchase or construction of housing, paying the first installment, then the certificate can be used at any time - at the request of the parents.

How legal is it to take out a loan against family capital?

The question of the legal purity of the procedure still remains open. A literal interpretation of the legislation leads to the idea that money can only be used to improve living conditions (and only for a house, but not for improving facilities). Pure “cash out”, even when it comes to urgent needs, is not legal. Accordingly, by using any loopholes offered by the “craftsmen”, the parent risks falling under criminal charges and incurring serious liability. And the most important thing is to lose the money received in this way.

By the way, young families have a legal right to, which is no less than 30% of the cost of the purchased apartment.

How is a loan for maternity capital provided?

At the moment, funds are issued only for needs related to improving housing conditions (participation in shared-equity construction of an apartment, purchase of real estate, etc.). Young parents have two ways to use state resources - contact a bank or a financial institution.

What documents are required to receive financing?

To obtain a loan (credit), the following documents are required:

• Certificate for receiving family capital;
• A document confirming the identity of the person to whom the certificate was issued (mother);
• Certificate from the Pension Fund of Russia regarding the capital balance;
• Application to the Pension Fund for the disposal of financial capital.
• A document confirming the identity of the spouse of the certificate owner;
• Marriage certificate;
• Pension Fund certificate;
• Birth certificates of children;
• A complete package of documents for the purchased property.

When applying for a loan, a loan for maternity capital, it can be used to pay the down payment, repay interest and principal, as well as a mortgage loan.

What is the procedure for obtaining a loan for maternity capital?

1. Submission of documents and conclusion of an agreement. The entire package of papers is transferred to a credit and financial institution, with which an agreement is signed for the provision of services in the course of further work.
2. Receiving funds. Financial resources that must be spent on resolving the issue with the developer (seller of the property) are transferred to the applicants’ bank account, and from there to the final addressee.
3. Transfer of documents to the Pension Fund. The real estate purchase and sale agreement and the loan agreement concluded with the financial institution are transferred to the territorial body.
4. Return money to the lender. No later than within three months, the funds are transferred to the creditor (the organization acting in his capacity), and the encumbrance is removed from the acquired property.

As a rule, the borrower pays interest for the time the funds are used while the Pension Fund of the Russian Federation is deciding whether to satisfy the application of the certificate owner. This amount is within 5-15% of the total funds raised, which is acceptable for the family. When collaborating with banks, funds are not transferred to the certificate owner, and all payments are made between legal entities.

So, the scheme looks quite complex and confusing, since the security for the loan amount is not entirely clear. After all, a certificate is a personal document, and only the owner can receive money from it, and only for the needs specified in the law. But in fact, the encumbrance is imposed on the object, which serves as collateral. Nevertheless, thousands of people have already tried this option for obtaining a loan, and all of them were satisfied (to one degree or another) with such cooperation.

Important: The following methods for cashing out maternity capital are illegal, and their use may result in criminal penalties. They are given as an example of how funds received from the state for the birth of a second child cannot be used.

Options for fraud when applying for a loan for maternity capital:

• Real purchase during a “fictitious” sale. Some organizations offer the return of part of maternity capital when purchasing real estate at a clearly inflated price (this is especially typical for the regions). As soon as the transaction is completed and the certificate is cashed, young parents are denied a refund or their share is significantly reduced, and they are left alone with the property. Of course, a rare deceived parent will go to the police with a statement, because he has actually become an accomplice in the crime.
• Trusting relatives. Several cases of fraud have been identified in the fictitious purchase of real estate from relatives, if the last names are different. By purchasing an apartment or house at an inflated price in order to cash out money, you can forever quarrel when dividing up finances, and gullible “sellers” can be left without real estate and without money.

• Withdrawal of a certificate. Some gullible citizens simply sell their document or transfer it without payment - under the “guarantee” of reward in the future. Using various cash-out schemes, attackers can then either leave a person without money or offer a very modest payment - in the amount of 50-100 thousand rubles.

Is it possible to get a loan for maternity capital for consumer needs?

Perhaps this question worries everyone who could theoretically fall under the government support program. And, if desired, such offers can be found on the Internet - there are dozens, if not hundreds of them. As you might guess, the money ends up with the certificate holder without reaching the property owner. In fact, a fictitious transaction is concluded to purchase an object when neither party intends to fulfill its obligations.

In this case, the owner of the certificate receives 30-70% of the amount of maternity capital, and not its entire amount. But – we especially emphasize – this option is illegal, and in the practice of Russian law enforcement agencies there have already been cases of mass prosecution of citizens.

An analysis of the legislation demonstrates that it is possible to “cash out” funds allocated as family capital, but this may be regarded as an abuse of one’s right. Therefore, legal processing of a loan is possible only if living conditions are improved, and there are several options here, including. We cannot dissuade you from cooperating with microfinance organizations, but we recommend that you carefully evaluate your prospects when working with them.

The possibility of using maternity capital for acquisition or repayment has probably been discussed at least once in every young family that dares to have two or more children. VTB 24 Bank has been offering Russian families a simple solution to this problem since 2011. During the period from 2011 to 2015, several thousand young families took advantage of the favorable offer and received their own housing with a high level of comfort. Under the program, maternity capital can be used not only for the purchase of finished real estate, but also for the purchase of housing under construction, including when participating in shared construction.

Terms of a loan for maternity capital

Parents who already hold a certificate giving the right to receive maternity capital have a chance to join the ranks of participants in the VTB 24 program. If there is a debt on a mortgage loan, money can be used to pay it off. In the last few years, young people in the Russian Federation have been using family capital mainly to improve their living conditions. Few people can manage without the help of banks issuing mortgage loans, which is why the VTB 24 program is quite popular in the country.

Housing loan for maternity capital

Let’s consider in what cases a young family will be able to improve their living conditions using maternity capital:

• Payment of the down payment on the mortgage.
• Repayment against the principal amount of a previously issued housing loan.
• Increasing the amount of a mortgage loan in order to obtain housing with more comfortable conditions.

On what terms are mortgage loans “for maternity capital” issued?

Money is issued only in rubles.

The interest rate for 2015 is 15.95%.

The down payment is at least 20% of the cost of housing.

The minimum loan amount is 900 thousand rubles, the maximum is 30 million rubles.

The maximum repayment period is up to 30 years.

Targeted loan for maternity capital

To apply for a mortgage “using maternity capital” you will need to prepare the following documents:

• Passport of the borrower and co-borrowers.
• Form 2 personal income tax.
• A copy of the work book with the employer's visa.
• A document confirming family composition.
• Maternity capital certificate.

If the documents are in order, VTB 24 starts the decision-making procedure. A feature of the contract is the possibility of using maternity capital without specifying specific periods and deadlines.

Construction loan for maternity capital

To use maternity capital to build your own home, you will need to obtain a permit for construction work. Such documents are issued by local governments. The process of constructing a structure must begin on a plot of land that belongs to the spouse.

The next stage is a visit to a notary, who registers the property as the common shared ownership of both family members. This formality must be completed within six months after the construction is put into operation. The state issues maternity capital after the child reaches the age of three by applying to the Pension Fund office at the place of residence.

Loan agreement for maternity capital

If a young family has decided to apply for maternity capital, the necessary package of documents will need to be thoroughly prepared. In addition to the certificate itself, you will need:

1. Certificate of unspent amount of maternity capital.
2. Documents for housing.
3. Copies of passports of the borrower and co-borrower.

After a positive decision is made, an agreement is concluded. It specifies the target character. In our case, this means the possibility of using funds only to purchase housing. If there are no errors in the execution of the document, the pension fund transfers the funds to the lender’s details.

Loan against maternity capital for improvement

In fact, the list of situations in which the use of maternity capital to improve living conditions is allowed is quite wide, so it would be a good idea to familiarize yourself with it:

1. Standard scheme for purchasing housing.
2. Individual housing construction or construction of housing with the involvement of a contractor.
3. Compensation of costs for carrying out work for individual housing construction or reconstruction of a residential property.
4. Down payment when taking out a mortgage loan.
5. Paying off a mortgage against the principal amount due.

Advice from Sravni.ru: Using maternity capital to improve housing conditions is the most reasonable decision that young parents can make regarding the use of government assistance. The main advice is to take your time when making a decision and use your money for the maximum benefit for your family.