Why you shouldn’t use maternity capital as a down payment for a mortgage. Mortgage for maternity capital

When a family becomes eligible for government support at the birth of a second child, the most difficult question for them is which bank can get a mortgage on favorable terms? Let's consider the rating of banks offering maternity capital as a down payment on a mortgage.

Considering the statistics of past years, the most popular area for using government assistance is “Improving housing conditions.” The state strictly regulates the conditions for the use of maternity capital. According to federal law, permission to use funds partially or in full can be considered by the Pension Fund 3 years after the birth of a child in the family. There is an exception to this rule: funds from mat capital can be used until the child’s third birthday as part of obligations associated with housing loans.

Considering the fact that the full amount of state support in the amount of 453,026 rubles in 2018 is not enough to purchase your own home, it remains to consider mortgage lending options. When applying for a home loan, banks make a mandatory requirement - payment of a down payment. Typically, this is 20% of the total loan amount. When drawing up a contract for the purchase of real estate for an amount not exceeding 2,265,000 rubles, the full amount of family capital is fully sufficient to pay the down payment.

Requirements for the borrower when applying for a mortgage

To use maternity capital as a down payment on a mortgage in 2018, the borrower must meet the standard requirements set by banks:

• Having a good credit history;
• Regular income (the monthly mortgage payment should not exceed 40-50% of your income);
• Duration of continuous work (6 months, in some banks – 3 years).

Banks working with maternity capital

Of the many credit institutions in the Russian Federation, only a few banks can be named that offer mortgage loan programs as part of the use of family capital. Let's consider financial institutions with the most profitable mortgage programs for mat capital in 2018:

• Sberbank of Russia;
• DeltaCredit Bank;
• UniCredit Bank;
• VTB 24;
• Russian Capital Bank.

The criteria for banks with maternity capital differ in the size of the down payment, the type of housing purchased, the interest rate, and the loan term.

Mortgage plus maternity capital in Sberbank

Sberbank offers to apply for a loan for residential real estate, using mat capital funds to pay the down payment. Potential borrowers can use one of the following programs:

• Purchase of finished housing;
• Purchase of housing under construction.

Loan for the purchase of finished housing

The program operates as part of a promotion for young families with a base interest rate of 8.7% per annum. Subject to electronic registration of property rights, the annual interest on the loan is reduced by 0.1%. These interest rates are relevant if you receive your salary on a Sberbank card, or if the property you have chosen was built with bank loan funds.

If the above requirements are not met, surcharges are provided:

• +0.5% if you are not a participant in the Sberbank salary project;
• +1% if you have not taken advantage of the life and health insurance program, according to the bank’s requirements.

Participants in the Young Family program can count on a 0.5% discount on the annual interest rate. A prerequisite is that one of the spouses must not be older than 35 years. Single parents under 35 years old can also take advantage of this discount.

The maximum loan term is 30 years. A down payment of 15% can be paid from maternity capital funds. You can submit your application online on the Domklik portal. When purchasing an apartment on DomClick.ru, you can save by receiving a 0.3% discount.

Sberbank offers a mortgage loan for the purchase of an apartment in a new building using maternity capital. The terms of the loan provide for a reduced interest rate - from 7.4% per annum. The interest rate on general terms is 11.5%. To lower it to 7.4% you need to:

• Purchase real estate from certain developers (the loan rate decreases from 1.5-2% depending on the loan term);
• Complete electronic transaction registration (-0.1%);
• Use life and health insurance services at Sberbank Insurance (-1%);
• Document your income (-0.4%);
• Receive your salary on a Sberbank card (-0.5%).

The discount from developers is valid only for a loan term of up to 12 years.

The terms of the “Purchase of housing under construction” campaign provide for the possibility of issuing a loan in two equal installments. The first part is issued after registration of the share participation agreement, the second - before signing the transfer deed.

The loan is issued for a period of up to 30 years. The maximum amount is 85% of the value of real estate purchased on credit or another object registered as collateral. The down payment (15%) can be paid with maternity capital.

Mortgage for maternity capital at DeltaCredit Bank

By purchasing real estate with a mortgage with the help of DeltaCredit Bank, you can count on the possibility of using mat capital as a down payment or early repayment of the obligation. The size of the down payment ranges from 10-40% of the total amount and depends directly on the type of property you choose. If the amount of maternity capital is not enough to repay the first installment, the borrower must contribute additional funds.

A potential borrower can choose real estate in both the primary and secondary markets. The choice of housing type is quite wide. It could be:

• Apartment – ​​down payment 15%;
• Share in the apartment – ​​10%;
• Room – from 10%;
• Country house – 40%.

DeltaCredit Bank does not advertise the interest rate on a mortgage, arguing that this factor in the loan agreement is considered on an individual basis. In this direction, a special program “Set your rate” was developed, the principle of which is to reduce the loan rate when you deposit an amount equal to a certain percentage of the total loan amount.

Thus, the mortgage rate on the loan is reduced by 0.5% when paying an amount equal to 1% of the total cost of the loan, by 1% when paying 2.5%, by 1.5% when paying 4.5%. Using the loan calculator on the bank’s official website, you can find out the base rate – 10.75%.

The frequency of mortgage repayment at DeltaCredit Bank is once every 14 days. This allows you to make 2 additional payments each year, which helps reduce the loan term.

Mortgage for maternity capital at UniCredit Bank

You can take out a mortgage from UniCredit Bank for a period of 1-30 years by paying a down payment of 20-50% depending on the type of residential property:

• 20% - when purchasing an apartment or apartment;
• 50% - when purchasing a residential or garden house, townhouse or cottage.

In this case, the amount of the down payment may be reduced by the amount of maternity capital. One of the main conditions of the bank when issuing a loan is the purchase of an apartment in residential buildings under construction or a plot of land with a residential building located on it from a certain list of objects.

The maximum loan size is 9,000,000 rubles. The interest rate is fixed, when making a down payment in the amount of 20% - 10.9%, in the amount of 50% - 12.25%.

The obligatory requirement of the lender is the location of the employer and the registration address of the participant in the transaction within the Russian Federation, with the exception of the Republic of Crimea and Sevastopol.

Maternity capital as a down payment on a mortgage at VTB24

VTB24 offers 3 options for using maternity capital:

• As a down payment on a mortgage;
• To repay the loan;
• Increasing the loan amount.

The interest rate on a mortgage loan at VTB24 depends on the loan term and the size of the down payment. The minimum rate is 11.9%, the maximum is 14.45%. The conditions for participation in the Mortgage + Maternity Capital program determine the minimum loan amount of 600,000 rubles. The down payment cannot be less than 10% of the cost of the apartment. The maximum loan term is 30 years.

VTB24 presents 2 loan products operating within the framework of the “Mortgage + Maternity Capital” program:

• New building;
• Secondary housing.

Mortgage for maternity capital at Russian Capital Bank

Young families who own maternity capital can take advantage of mortgage lending programs from Russian Capital Bank. The certificate can be used to reduce your down payment and increase the amount of your mortgage. The “Maternity Capital” option is compatible with the following mortgage programs:

• Purchase of finished housing;
• Purchase of housing under construction.

The interest rate on loans is variable and can be indexed depending on the value of the consumer price index for goods in the Russian Federation.

Purchase of finished housing

The program is aimed at purchasing an apartment in a residential building or townhouse on the primary or secondary market, including in a block-building building, on preferential terms. The interest rate varies from 9–11.1% per annum, depending on the amount of the down payment. The minimum down payment is 20%. The loan is issued for a period of 3–30 years for an amount of up to 20 million rubles.

Purchase of housing under construction

You can purchase housing under construction under the mortgage program of Russian Capital Bank only in properties accredited by AHML. Borrowers can purchase real estate in objects under construction by concluding an agreement for participation in shared construction.

• Annual interest on the loan – 9%;
• The minimum loan term is 3 years, the maximum is 30 years;
• Loan amount up to 20,000,000 rubles.

Conclusions: which bank to get a mortgage from?

Having compared the conditions for issuing mortgage loans from competing banks, we can confidently say that the program of Sberbank of Russia is the most profitable. This is confirmed by the lowest loan rate - 7.4% per annum and the fact that the amount of maternity capital is quite enough to be used as a down payment (15%) when purchasing real estate worth up to 3 million rubles.

How to get a mortgage with maternity capital?

What documents need to be submitted to the Pension Fund when applying for a mortgage for maternity capital?

To apply for a mortgage using maternity capital, you need to prepare 2 packages of documents: for the bank and for the pension fund.

Documents for the Pension Fund:

• Identity card of the certificate holder;
• Application of the established form for the transfer of money to the bank;
• Original family capital certificate;
• When drawing up a mortgage agreement for a spouse, you must present his passport and marriage registration certificate;
• A copy of the mortgage loan agreement;
• Notarized obligation on shared registration of ownership (no later than 6 months from the date of loan repayment);
• Technical documentation for the property, confirming its compliance with housing conditions.

Documents requested by the bank to obtain a mortgage loan for maternity capital

There is a standard package of documents required by banks to use maternity capital as a down payment on a home loan. This list may be supplemented due to the individual requirements of the credit institution.

• Photocopy and original of the capital certificate;
• Certificate on the amount of capital balance issued by the Russian Pension Fund;
• Certificate 2 personal income tax for 6 months;
• SNILS;
• Copies of the most recently submitted tax returns;
• Real estate purchase and sale agreement;
• Applicant's passport;
• A copy of documents establishing the right to the purchased housing;
• A copy of the cadastral passport.

How to get maternity capital?

Before contacting the bank with an application for a mortgage loan using maternity capital, you must obtain the appropriate certificate. It is issued by the Pension Fund of the Russian Federation upon provision of a mandatory package of documents:

• Birth certificate of the second child;
• Mother's passport;
• Application for obtaining a standard certificate;
• SNILS;
• Form 9.

The application is reviewed within one month, followed by the issuance of a certificate.

Requirements for the property

Maternity capital can be used to purchase residential real estate in strict accordance with the following conditions:

• The property must be located within the Russian Federation;
• Availability of necessary communications connections;
• Recognition of residential real estate as suitable for habitation;
• It is registered as shared ownership of the entire family, including children.

If the above conditions are not met, the Pension Fund may refuse to use mat capital funds.

The procedure for obtaining a mortgage loan using maternity capital as a down payment

Completing a transaction requires simultaneous interaction with two organizations: a bank and a pension fund. The first thing to start with is submitting the necessary documents to the Pension Fund to obtain a certificate. As soon as the application is reviewed and you receive the relevant document, you can begin monitoring mortgage programs in various banks operating under state support.

The next stage is collecting the necessary package of documents to draw up a mortgage loan agreement. The agreement must stipulate the conditions for the use of maternity capital. Next, we contact the Pension Fund with an application to transfer money to the appropriate credit institution, submitting a complete list of documents for this purpose.

After the Pension Fund transfers the money to the bank, the transaction can be considered completed. All that remains is to pay the loan installments regularly. After full payment of the obligation, you can begin registering housing in Rosreestr as the shared ownership of each family member.

Important points

When applying to a pension fund with an application to transfer maternity capital funds to a credit institution, it is necessary to take into account the specifics of the service. The fact is that the accrual amounts are formed once every six months. For example, if you plan to take out a mortgage loan in the winter, submit an application to the Pension Fund in advance, in the summer.

To provide additional guarantees for the bank, the issuance of a mortgage loan involving mat capital is accompanied by mandatory insurance. You should also remember that the purchased property will be under the bank's encumbrance until the obligation is fully paid. Accordingly, subsequent transactions of sale or purchase are excluded.

Improving housing conditions is a priority for using maternity capital. It is for this reason that a mortgage loan against maternity capital is very popular among those families who have received the right to state support as capital.

Directions for using maternity capital within mortgage lending

If a family decides to use maternity capital to improve their living conditions through mortgage lending (repay the mortgage with maternity capital), then it must be remembered that there are three main options for using family capital:

1. Repayment of principal and interest on a previously issued housing loan. This is possible when working with Sberbank, DeltaCredit Bank.
2. Using maternity capital as a down payment on a newly issued mortgage loan. This is possible at the Bank of Moscow, at VTB24 Bank, at Nomos Bank, at DeltaCredit Bank.
3. Increasing the mortgage amount due to the equity in the purchase of a home that is more expensive than your income allows. This can be done at Rosbank, Izhkombank, Tver Mortgage Center, the Agency for Housing Mortgage Lending, and UniCredit Bank.

Features of the use of maternity capital within the framework of mortgage lending

The main features of the use of maternity capital within the framework of mortgage lending are the following:

• Firstly, maternity capital is not cash, but simply the family’s right to government assistance, confirmed by an appropriate certificate. Therefore, the understanding of capital as something that can act as collateral for a loan or as security for it is incorrect.
• Secondly, not every bank accepts maternity capital in the form of payment on the principal debt and interest on the use of loans. It is even more difficult to use maternity capital in the form of a down payment on a mortgage loan.
• Third, maternity capital can be used to purchase any housing (built, under construction, at the project stage), but this can only be done through direct purchase and sale or construction.
  

  If maternity capital is used as part of mortgage lending, then the type of housing purchased is determined by the bank and the specific loan product: some banks (loan products) work only with new buildings, others, on the contrary, with secondary housing.

• Fourth In order to use the capital to repay a previously issued housing loan, there is no need to wait until the child’s third birthday or the expiration of a three-year period from the date of adoption of the child. However, in order to use family capital for a down payment on a mortgage loan, you must wait a three-year period.
• Fifthly, when purchasing housing with capital funds (or part of the funds), the residential premises must be registered as the common property of all family members (parents and all children).

Banks working with maternity capital

We can name the following banks that in 2014 issue mortgage loans against maternity capital (that is, accept family capital in the form of a down payment) and/or repay housing loans with maternity capital funds:

1. DeltaCredit Bank. This bank issues a loan for housing using maternity capital with a minimum down payment of no more than 5%. Family capital funds can be used to make a down payment and to repay the principal and interest on the loan early. The bank takes into account the solvency of the applicants, as well as the remaining amount of maternity capital when calculating the maximum loan amount in order to work with maternity capital;
2. UniCredit Bank. This credit institution allows you to use maternity capital to pay off your mortgage;
3. Sberbank. This bank works exclusively with finished buildings and issues loans at a rate of 14% per annum for a maximum of 30 years. Residential premises purchased using Bank loan funds must be registered as the property of the borrower/common shared property of the spouses and his/their children;
4. Bank of Moscow. This banking institution does not yet accept maternity capital as a down payment, but it repays the principal amount of mortgage loans and interest on it;
5. VTB 24. In this bank, the rate on housing loans is 11% or higher, and loans are issued for a period of up to 50 years. This year, VTB24 Bank provided the opportunity to use maternity capital as a down payment on a mortgage;
6. Nomos Bank. This bank relatively recently began working with maternity capital, but has already been able to offer a very profitable loan product that allows you to effectively use capital funds to improve housing conditions;
7. Rosbank. This bank offers borrowers to expand their opportunities to purchase housing on credit by repaying loan debt with capital;
8. Izhkombank. The bank offers loans for the purchase of residential premises and for the completion of construction of an unfinished construction project;
9. Tver Mortgage Center. Working with this institution will allow you to purchase more comfortable housing by increasing the loan amount without taking into account bank restrictions;
10. . This credit institution offers profitable mortgage loans with capital raised as a down payment and as amounts to repay the principal and interest on the loan.

Below is a table differentiating the type of housing (under construction, finished, primary or secondary) with which the above banks work.

Bank interest rates on mortgage loans using maternity capital

Let's consider bank interest rates on loans in which parent capital is allowed to be used. Interest rates are indicated in accordance with the terms of each loan product.

Documents required when using maternity capital

Each bank's package of documents will be different. Below is a standard package of documents that any bank may need to complete mortgages when a family uses maternity capital:

• Maternity capital certificate - original and copy;
• A certificate from the local branch of the Pension Fund about the amount of the family capital balance in the family account;
• Certificate 2-NDFL (certificate of income for the last six months);
• Copies of the most recently completed and submitted tax returns (mother's and father's);
• Documents confirming the income of close relatives (regardless of whether they will be guarantors for the loan);
• Applicant's passport;
• All documents related to the residential premises being loaned.

How to use maternity capital in banks: step-by-step instructions

To apply for a mortgage when using maternity capital in the form of a down payment, you must follow the following sequence of actions. Remember that you can use capital in this direction only after three years or more have passed since the birth or adoption of the child.

1. Receive a certificate for maternity capital, select residential premises to purchase it with a mortgage.
2. After receiving a certificate from the Pension Fund and concluding a contract for the sale and purchase of residential premises, you need to contact the bank with a full package of documents (see above).
3. The bank will consider the application for a loan and the use of capital as a down payment on the loan from several days to a month.
4. After approval of the loan application, the bank will issue a preliminary letter of confirmation of the loan and notify the borrower of the deadline for transferring maternity capital funds to make the down payment.
5. Having received a preliminary letter about the loan, the borrower must contact the Pension Fund to transfer capital funds. This is done in order to request a certificate from the Pension Fund about the amount of capital balance (even if they have not been used at all previously).
6. Go to the bank and apply for a loan. Receive copies of all mortgage documents.
7. Contact the Pension Fund with an application (with attached loan agreement and mortgage agreement) to deposit capital funds into the bank account.

Falling incomes and distrust in the banking system force people to use loans from reliable financial institutions. For young families, the most pressing problem is how to get a mortgage using maternity capital from Sberbank.

Targeted programs for maternal capital in Sberbank

In 2017, families raising two or more children have the right to receive up to 453,026 rubles from the state to resolve their housing issues.

Mortgage conditions in Sberbank in 2017 for maternity capital remain super-loyal. Who else, if not the state bank, should take on the responsibility for implementing the all-Russian housing program? A mortgage for the amount of maternity capital in Sberbank can be issued for the following purposes:

1. Payment of the share of the existing bank mortgage through maternal start-up capital (MSC).
2. Contribution of maternity capital as a down payment on a mortgage at Sberbank in 2017 when purchasing a home.
3. Repayment of the family's financial obligations for shared construction when purchasing real estate in a new building.

You can take out a mortgage from Sberbank using maternity capital in 2017 without waiting 3 years. But in this case, it will be possible to pay only the down payment or the debt with interest on an existing mortgage loan.

Mortgage conditions in Sberbank in 2017 for maternity capital

Despite the legal requirements for all banks to issue loans with capital, not all financial institutions adhere to the letter of the law. Contrary to this trend, Sberbank offers two targeted programs under which young families can take advantage of their MSK certificate:

1. “Purchase of finished housing – Flat rate.” The program involves the purchase of an already built house or a finished apartment in a residential complex.
2. "Purchase of housing under construction." In this case, the bank allows the use of maternal capital to finance the family’s obligations for shared construction in a new building.

Most people are satisfied with the “Mortgage plus maternity capital” program at Sberbank, the terms of which allow you to pay off the debt, mortgage interest and down payment. The only negative is that the MSK certificate cannot pay off penalties, penalties and fines that have accrued on a mortgage loan.

The conditions of both loan programs are approximately the same. Repaying a down payment is considered a riskier banking operation, so the requirements for this program are slightly higher. In general, the conditions of programs using MSK in Sberbank are practically no different from the conditions of classic mortgage loans.

When purchasing real estate with a mortgage with partial payment with maternal capital, all children must subsequently receive a share in the ownership of the purchased residential property. The size of the share is unlimited by law, but in a number of regions the Pension Fund requires that part of the child’s property be no less than the established housing standards when converted to living space.

Requirements for Sberbank borrowers under the MSK program

To reduce risks, Sberbank imposes a number of requirements on borrowers wishing to buy housing using maternity capital.

Basic conditions that the borrower must meet:

1. Must be at least 21 years old at the time of execution of the mortgage agreement and not more than 75 years old at the time of its expiration. If the client does not receive a salary from Sberbank and has unconfirmed income, then the maximum age is limited to 65 years at the end of the loan.
2. Total work experience of the potential borrower:

• at least one year within the last 5 years;
• more than 6 months at last job.

Both spouses are required to act as borrowers on a family loan.

Financial terms of lending

Sberbank uses a flexible risk management system, therefore it uses a deeply differentiated approach when calculating the interest rate, parameters of the amount and loan term. Mortgage loans under the MSK program are issued exclusively in rubles.

Loan terms depend on:

• income and age of the borrower;
• number of children in the family;
• type of real estate;
• estimated value of housing;
• shares of the down payment;
• the presence of regular income received through Sberbank cards and other individual factors.

Basic conditions of Sberbank:

1. Interest from 12.5% ​​per annum. For the properties of some development companies, additional reductions in interest rates are allowed.
2. Minimum loan amount: from 300 thousand rubles.
3. Maximum loan amount: 80% of the contractual or estimated value of the property, but not more than 15 million rubles, if the borrower does not confirm his income.
4. Loan term: up to 30 years, but with the condition that the last payment will be made before the borrower’s 75th birthday.
5. No commissions.
6. Special preferential conditions are provided to participants in Sberbank salary projects.
7. Early repayment is permitted at any time without restrictions or penalties upon notification to the bank.
8. Residential property insurance is required.

The purchased apartment is registered as a bank pledge and an encumbrance is placed on it. After this, the borrower cannot carry out any legal actions with the residential property without the consent of Sberbank.

Loan repayment under the MSK program occurs exclusively according to the annuity schedule. This type of repayment implies the same monthly payment amount. In case of early repayment, the payment is reduced, but the term remains the same.

List of documents for the bank

Non-standard documents for a mortgage from Sberbank in 2017 with maternity capital are not required. The list of requested documentation is simple and does not require lengthy wanderings through government agencies.

To apply for a loan, Sberbank requires:

1. Documents for the order of MSC to repay the mortgage:

• MSK certificate;
• a certificate from the Pension Fund about the balance of maternity capital, taken no more than 30 days ago.

Providing these documents is not always sufficient to accept an application for consideration. In individual cases, other supporting documentation may be required from the borrower or seller of the apartment.

Sberbank also takes into account the unofficial income of citizens, but they should not be the main ones. Such “gray” additions to the family budget cannot be obtained through illegal actions of the borrower.

Step-by-step algorithm for buying an apartment with a mortgage from MSK

The path to your own apartment is sometimes not easy and often runs through a series of bureaucratic procedures. To purchase an apartment using money from the state and the bank, it is necessary to satisfy the requirements of both authorities. Below is a step-by-step diagram of actions for applying for a mortgage loan:

1. A search is made for a residential property that meets the wishes of family members.
2. The possibility of a financial organization or a real estate seller to participate in a transaction with the participation of maternity capital is being clarified.
3. An application is submitted to Sberbank for a loan. Documents are reviewed within 2-5 days.
4. A package of documents is collected, contracts are signed with the bank and the seller.
5. Sberbank transfers the agreed amount, which is withdrawn and placed in a safe deposit box with exclusively shared access.
6. The borrower registers ownership and presents new documents to the bank.
7. The seller receives money from the safe.
8. An application for the use of an MSK certificate with a package of documents is submitted to the Pension Fund.
9. The Pension Fund reviews the documentation and transfers funds to Sberbank using the specified details.
10. After repaying the loan, removing the encumbrance and taking full ownership of the apartment, family members must distribute shares of the property among all children, in accordance with the signed obligation.

The MSK mortgage program was created for the participation of the maximum number of Russian families in it, so most of its stages do not cause significant difficulties.

How to pay for a mortgage at Sberbank with maternity capital?

To pay off a mortgage at Sberbank with maternity capital, you must follow the following algorithm of actions:

1. Obtain a certificate from Sberbank about the balance of the loan debt for transfer to the Pension Fund.
2. Submit an application to the Pension Fund. Along with it, the received certificate of debt, originals and copies of bank loan documents, as well as documentation for the apartment are attached.
3. Write an obligation to allocate shares to the children in the purchased property after the loan has been fully repaid.
4. Receive a positive decision from the Pension Fund of the Russian Federation to transfer funds.
5. Provide bank details for transferring the MSK amount towards the loan payment.
6. After transferring funds, which occurs within a month, you can receive from the bank a new repayment schedule or a certificate of full payment of the mortgage loan.

If the loan obligations have been finally repaid, then you need to contact Rosreestr to remove the encumbrance from the property.

How to sell an apartment with a Sberbank mortgage with maternity capital

Life circumstances may force owners of a mortgaged apartment to sell their home. But what to do if the apartment is on credit, and was also purchased with partial payment from maternity capital? The main legal problem is the obligation of the parents to transfer part of the apartment into the ownership of the children after the end of the loan.

There are several options for selling such an apartment, although they all carry risks and hassles for the buyer of such real estate.

First option. The debt is repaid on the day of purchase and sale of the apartment with the consent of the bank. Documents to remove the encumbrance and change the owner are simultaneously submitted to Rosreestr.

Second option. The apartment is sold with the consent of the bank, but the encumbrance is not removed, and all credit obligations are transferred to the new buyer. After this, the buyer pays off the loan and removes the encumbrance.

Although control over the distribution of shares in real estate between family members is not controlled by the state, it is advisable, after the sale of the apartment, to still allocate to the children the required shares of ownership in the new housing, notifying the Pension Fund department about this.

Use government financial assistance in the form of MSK certificates faster, because this program has currently been extended only until the end of 2018. If in doubt, call Sberbank, where consultants in a polite manner will always tell you the subtleties of procedural issues. And intermediary companies will help you avoid wasting time going around government agencies.

Would you like to purchase a home using your capital? There is an excellent solution: a mortgage with maternity capital as a down payment to banks. Today we will take a closer look at how this opportunity can be realized.

At the moment, the following trend is observed in the housing market: the demand for apartments and houses is steadily growing, but at the same time, people are often limited in their financial capabilities. The best solution is to use a loan. This is why mortgages are very popular. But it also requires quite impressive financial investments. What to do, is it possible to contribute maternity capital as a down payment on a mortgage?

Often the best solution is to make a substantial down payment, and then calmly pay a certain amount each month on your mortgage. If the first payment is quite serious, then subsequent monthly payments no longer seem so gigantic. And here the state comes to the aid of young families. It was maternity capital as a down payment on a mortgage in 2017 that became a real chance for a large number of families to improve their living conditions. Today we will look in more detail at how this whole procedure is carried out when maternity capital is used as a down payment when applying for a mortgage loan. Remember all the details so as not to get confused later.

We use matkapital as an initial mortgage payment

Now maternal capital opens up the opportunity for families to receive a certain financial resource if they have a second (subsequent) child. Please note an important point: the law strictly regulates how maternity capital can be spent. These are not just funds that can be spent arbitrarily. The program is strictly targeted. The most important and most popular area for the sale of capital is its use as a down payment for mortgage lending.

Many people are interested in whether maternity capital can be used as a down payment on a mortgage. Let's clarify all the details.

Two options for using this support from the state are proposed:

• covering the basic amount of debt for purchasing housing;
• initial investment in a mortgage.

If you decide to use maternity capital as a down payment, you will first need to determine the range of banking institutions that are ready to work with maternity capital.

Please note that this resource is not accepted by all banks. At the same time, there are a sufficient number of banks that not only readily accept maternity capital, but also provide quite favorable mortgage lending conditions for young families. Of course, this is primarily Sberbank. It is at Sberbank that mat capital is used quite often as a down payment on a mortgage.

Remember one more thing. When a family decides to use maternity capital to improve their living conditions without taking out a loan, they will have to wait until the baby, for whom the capital was received, turns three years old. Only after he reaches the age of three is such use of capital allowed.

If you just need to pay off the debt on basic payments with the help of maternity capital, there is no need to wait for anything. As soon as the mother receives the certificate, she immediately has the right to use it. And banks found a way to use maternity capital as an initial contribution.

Actual use of maternal capital: a convenient option

Maternity capital is used as a down payment on a mortgage in a special way. The fact is that in fact it cannot be used immediately for the down payment. There are two main reasons.

• The apartment will be pledged to the seller. This is a mortgage in accordance with the law, but it appears as unpaid. The banks are not happy with this.
• It is quite problematic to find a seller who will agree to wait for the money to arrive from the Pension Fund.

There is another scheme for using maternal capital as a down payment on a mortgage, which is more effective. The bank, which has a special program for maternity capital, issues a loan larger in the amount of maternity capital. Quite often, two agreements are drawn up, one of which is for the amount of maternity capital. In this case, the property will be registered as the property of the borrower directly, and not of all family members. After this, you can submit documents to the Pension Fund to pay off part of the debt with the help of capital. To do this, the borrower needs to issue a written undertaking that he will allocate the property to all family members after paying off the mortgage loan. The obligation is certified by a notary.

A huge advantage of this method is the ability to use maternity capital immediately, rather than wait three whole years.

Conditions for obtaining a mortgage loan using maternity capital

There are a number of conditions that must be met in order to obtain a mortgage loan against capital. In most cases, all basic conditions are standard, similar in all banks. Let's consider the key list of requirements that banking institutions make.

• The borrower must have a permanent place of work. You need to work on it for at least six months. At the same time, some banks have even more stringent requirements: they want to have proof of work in one place for more than three years. The main emphasis is on stability.
• Income at work must be decent. Of course, the “confirmed” salary is taken into account if your own funds in the purchase are less than 50%. Even if at work they meet halfway by issuing a certificate of good additional income, such wages will still not play a significant role, since constancy, stability of income, and its security are important - therefore banks often take into account only the main income.
• The credit history of the person who wants to take out a mortgage is of great importance. It’s great if you have a positive credit history. Even if the loan amount was small, this is already a big plus for the borrower if he carefully paid off the loan at the time.

Getting a mortgage loan is not easy, but many people manage it. The main thing is to have a real opportunity to repay the loan in full.

We collect all the necessary documents

First of all, it is necessary to obtain an official certified document, according to which the family has the right to state support in the form of maternity capital. They receive the paper from the pension fund. Then you have to choose a specific banking institution.

Now it’s time to find out exactly what package of documents needs to be collected for the bank and how to apply for a mortgage with maternity capital as a down payment. We will focus on the basic list of official papers that are required in almost all banking institutions:

1. Certificate for receiving maternity capital.
2. Identity documents. This includes a passport, as well as a tax registration certificate and a pension certificate. The package of papers may include a foreign passport and driver's license.
3. We need papers confirming the person’s financial solvency and solvency. A certificate of income certified by the seal of the head of the institution where the borrower works is provided. A certificate in form 2NDFL is required.
4. It is required to provide a document that confirms that the citizen has no debt obligations.
5. They are also asked to present a certificate from the tax service. It is needed by people who have sources of additional income, for example, from renting out real estate.
6. A direct agreement on the purchase of the property is also provided.
7. A certificate from the pension fund branch must reflect that the citizen has funds in his account.
8. A package of documents for the purchased housing is collected: this includes a technical passport of the property, extracts from house books, as well as documents from the BTI.
9. An application is drawn up in which the citizen pledges to further divide the property between family members.

A mortgage lending agreement is concluded with the bank for an amount increased by the size of the capital. When all the documents have already been completed and the agreement for the purchase of real estate has been registered with Rosreestr, that is, the borrower has become the owner, they contact the pension fund.

We transfer maternity capital to the down payment

The following documents are required:

• documents confirming registration of ownership rights;
• mortgage loan agreement;
• certificate for receiving support from the state - maternity capital.

Please note: Sometimes the certification document may be lost. This can be fixed. You just need to contact the pension fund with a request to issue a duplicate certificate.

To contribute maternity capital to pay off part of the loan, which actually replaced the start-up fee, contact the pension fund branch. There, an application is left so that the maternity capital is sent to a specific banking institution, with which the young family has entered into a mortgage lending agreement. The application must indicate that this maternity capital is used to pay off mortgage obligations. Remember that maternity capital for loan repayment is under no circumstances issued in the form of cash.

The set of documents for the pension fund department also includes the following documents:

1. A certificate from the bank is issued: it certifies that the citizen is going to receive a mortgage loan against capital.
2. Papers for the borrower are provided, in particular, an identity card.
3. We need information about the property being purchased.
4. An application is submitted in which the citizen asks to transfer maternity capital to the lending bank as a down payment on the mortgage.

When you have already prepared all the necessary documents, you can say that the main job is done.

A few important points

Pay attention to some nuances. You will definitely need this information:

• From the moment the mortgage loan is fully repaid, the property is registered in the name of all family members in equal shares.
• It is very important to contact the pension fund in advance. It has its own specifics of work: accrual amounts are formed approximately once every 6 months. If a family needs to add maternity capital for the down payment of a mortgage in the winter, they should apply in advance, in the summer.
• It should be remembered that the property will be encumbered until the mortgage loan is paid in full. That is, residential premises cannot be donated, exchanged or sold.
• When taking out a mortgage loan, insurance is also required. This provides additional guarantees for the banking institution, as well as for the borrower himself.

Remember that the main goal is to pay off your mortgage in full. It is important to objectively assess your financial capabilities. Now you know that taking out a mortgage with maternity capital as a down payment is possible.