Mortgages with state support in 2017: conditions of receipt and banks

Until the end of 2017, Russian citizens have the right to become owners of housing on mortgages, as part of the state support program. The initiative will facilitate the acquisition of real estate for socially unprotected categories of citizens. Mortgage loans at a favorable rate can be obtained at the offices of several banks, each of which has its own conditions.

What is a mortgage with government support

The essence of the mortgage program with state support is disclosed in the fact that the government of the country allocates funds to banks to help citizens in obtaining a loan for housing at a reduced rate. Money is sent to organizations from the Pension Fund. State support for mortgages makes it possible to purchase housing for many citizens. In addition, the government is taking measures to stimulate construction, since a mortgage loan is formalized only when choosing a new building. You can purchase an apartment in a newly built or finished house.

To whom is provided

The state mortgage is calculated on the categories of the population relating to the least protected, however the financial institutions are required to the borrower:

• The person taking the loan from the bank must be 21 years old or more. The upper threshold of age restrictions in different banks is 65-75 years.
• The borrower must be a Russian citizen by citizenship, registered in the same area as the bank branch.
• A home buyer must have a stable income, work for at least six months in one company.
• The monthly payment for a loan must not exceed 45% of borrowers' income.
• Many banks check the credit history of their client. If it is not in the best condition, then the issue of mortgages can be banned.

A mortgage with state support may involve up to 4 persons being co-borrowers. Husband and wife are such by default, even if the borrower's spouse does not fit the established conditions. This applies, for example, to women who sit at home with children, or who do not have the necessary experience in an official position. The purchased apartment becomes the property of both spouses.

How to get a mortgage with government support in 2017

To take advantage of the possibility of obtaining a mortgage with government support, you need to collect documents:

• passport of a citizen who wants to buy an apartment and co-borrowers;
• securities confirming the existence of a stable income;
• individual tax number;
• document establishing the amount of income;
• certificate from the place where the citizen employed in the personnel department works;
• draft contract governing the purchase;
• maternal certificate( if needed);
• SUNYLS;
• driver's license( if any);
• military ticket( for men);
• certificate, which indicates the family members;
• papers containing information about the organization-developer.

Actions required to obtain a state-supported loan:

1. Collect the required documents.
2. Fill in the application form that you can get from the financial institution or do it online on the official website of the bank, you can use a special calculator to calculate the amount of the mortgage.
3. Submit materials to the bank to be processed by employees.
4. Agree the terms of the loan with the bank employee.
5. Consider the housing options offered by a bank employee, choose the one suitable for you, inspect it.
6. Sign the mortgage agreement.
7. If the registration of the mortgage takes place prior to the immediate purchase of the apartment, enter into a pledge agreement.
8. Sign the sales contract.
9. Register your property in Rosreestra.
10. Once you have acquired ownership, notify the bank about it, you may be offered refinancing, lower the rate.
11. When the debt for the apartment is paid, remove from it the encumbrance by visiting the branch of the credit institution.

Mortgage loan terms

A mortgage with a state support implies the following terms of use:

• Buy affordable housing under the program is allowed only from construction companies that received accreditation.
• You must have an initial payment amount of at least 1/5 of the cost( depends on the bank).
• The interest rate for the program is 11.4%.
• The loan is issued for a long period( limited to 30 years).
• Obtaining a loan is possible only in rubles.
• The maximum credit limits in each Russian region are set individually. For example, in St. Petersburg it is 8 million rubles, in Moscow - 3 million rubles.
• For the subsequent tax deduction you need to have a stable place of work.
• To receive a loan for state support, you must always make out the policy of life insurance for the citizen and the housing itself.

To confirm the income, you can use the following documents:

• certificate 2-NDFL;
• by an extract from the personal account, which is used to transfer subsidies, support payments and other payments;
• inventory of your property, securities, land.

banks programs Several financial institutions responded to the state initiative, the credit offers presented in the table are very popular:

Bank name	Mortgage program terms with state support
Sberbank of Russia	interest rate from 11.4%( if there is an appraisal of real estate and insurance) to 12.4%( unless the insurance was extended); age threshold is from 21 to 75 years( at the time of expiration of the contract); can attract up to 3 co-borrowers to a mortgage; credit is issued for new buildings; period of mortgage payments: from 1 year to 30 years.
VTB-24	apartment is purchased in a newly built or finished house; conducted comprehensive insurance activities; interest rate: 11.4%; get a mortgage only on accredited housing; an approved application has the power of 4 months; term for which the loan is granted: from 1 year to 30 years.
Program AHML	interest rate 10.9-13%, established depending on the value of the object; term of granting a mortgage: from 3 to 30 years; borrower's age: 18-65 years; is allowed to have no more than 3 co-borrowers.
Gazprombank	annual rate: from 11%; maximum loan amount: 2 million rubles; issuance occurs only on the property of accredited developers; maximum duration of the mortgage: 25 years.
Bank of Moscow	is provided for primary market facilities; is allowed to pay maternity capital; down payment is 20%; annual rate: from 11.75%; repayment is carried out by equal payments monthly; required borrower's age: 21-75 years.
Transcapitalbank	possibility to take a mortgage for new and secondary housing; the term of granting a loan for state support: up to 25 years; rate: from 10.9% per annum; initial fee: from 20%; requires insurance of the purchased object; age restrictions: from 21 to 75 years.

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