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Take a mortgage with maternity capital as a down payment. Was this page helpful? What documents are needed for a mortgage with parent capital

When registering mortgage loan maternity capital can be sent to a down payment or partial early repayment of the mortgage. The down payment can be up to 10% lower compared to the terms of the standard programs.

The program is designed for families with two or more children. If you are going to improve living conditions by attracting a mortgage with maternity capital in Rosbank, you will be able to:

a) reduce the amount of own funds required initially to purchase living space;

b) save time: funds are transferred to the bank account by non-cash payment from the Pension Fund;

c) optimize the terms of the mortgage - with the use of maternity capital for partial early repayment, the amount of monthly payments or the loan term (at the borrower's choice) can be reduced.

Requirements for a mortgage borrower

Clients wishing to take out a mortgage (home loan) against maternity capital must meet the following requirements.

General, or basic, established by the bank for any program: age from 20 years at the time of registration and up to 65 at the time of repayment, confirmation of work experience (at least 6 months at the last job) and solvency.
Private, provided for by the special program "Lending taking into account maternal (family) capital": the presence of an appropriate state certificate for and certificates from the Pension Fund of the Russian Federation about the amount of funds due to you.

What can you buy in a mortgage for maternity capital?

Real estate is available for lending in both the primary and secondary markets. By type of housing, it can be an apartment, a share in an apartment, a room, a country house. Rosbank's programs allow a potential borrower to choose a housing option based on their wishes and capabilities.

For example, living outside the city is becoming more and more popular, especially among large families with children. By taking out a mortgage (housing loan) under maternity capital for a country house, you will provide yourself with space, beauty of nature, clean air and independence from neighbors without giving up comfort - houses in modern villages have the necessary communications, they are warm and reliable.

Taking a mortgage against maternity capital for a share in an apartment or a room in the secondary market means expanding the available living space (if, for example, we are talking about the last share) or taking care of the future (investing in a loan to purchase a separate home for a growing child).

And of course, within the framework of the program, you can get a mortgage under maternity capital for the most popular type of real estate - an apartment. In the case of the "secondary housing", this is an opportunity not to postpone the move and not to wait for the development of the district's infrastructure; housing under construction has a lower cost per square meter and initially a small down payment, which, with a mortgage under maternity capital, can be further reduced. You can check with our specialists for more detailed information.

Whatever market and type of real estate you are interested in, a loan from our bank will help you to implement your plans and make the long-awaited acquisition. Do not miss your chance, because mortgage lending with maternity capital and additional options is a convenient and effective tool for solving the housing issue.

Check out Rosbank's special offer

Falling incomes and mistrust of the banking system make people use loans from reliable financial institutions. For young families, the most urgent problem is how to get a mortgage against maternity capital in Sberbank.

Targeted programs for mother capital at Sberbank

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

The terms of the mortgage in Sberbank in 2017 under maternity capital remain super loyal. Who, no matter how the state bank, should take on the responsibility for the implementation of the All-Russian housing program. A mortgage in the amount of maternity capital in Sberbank can be issued for the following purposes:

Payment of a share of an existing bank mortgage through maternity start-up capital (MSC).
Making maternity capital as a down payment on a mortgage in Sberbank in 2017 when buying a home.
Repayment of financial obligations of a family for shared construction when purchasing real estate in a new building.

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

Mortgage conditions in Sberbank in 2017 under maternity capital

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

“Purchase of finished housing - Flat rate”. The program involves the purchase of an already built house or a finished apartment in a residential complex.
“Acquisition of housing under construction”. In this case, the bank allows the use of matcapital 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 conditions of which allow paying off debt, mortgage interest and down payment. The only drawback is that the MSC certificate cannot be used to pay off penalties, penalties and fines that have come up on a mortgage loan.

The terms of both loan programs are approximately the same. Repayment of the down payment is considered a more risky banking operation, so there are slightly more requirements in this program. In general, the terms of programs using MSCs in Sberbank practically do not differ from the terms of classic mortgage loans.

When buying real estate on a mortgage with partial payment by mother capital, all children must subsequently receive a share in the ownership of the acquired residential property. The size of the share is not limited 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 borrowers of Sberbank under the MSC program

To mitigate risks, Sberbank makes a number of requirements for borrowers wishing to buy housing using maternity capital.

Basic conditions that the borrower must meet:

Age is not less than 21 years old at the time of the mortgage agreement and not more than 75 years old at the time of its termination. 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 time of the end of the loan.
Total work experience of a potential borrower:

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

Both spouses are required to act as family loan borrowers.

Financial lending conditions

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

Loan terms depend on:

borrower's income and age;
the number of children in the family;
type of real estate;
the estimated cost of housing;
shares of the initial payment;
the presence of permanent income received through Sberbank cards, and other individual factors.

Basic conditions of Sberbank:

Interest from 12.5% per annum. For the objects of some developer companies, an additional reduction in interest rates is allowed.
Minimum loan amount: from 300 thousand rubles.
Maximum loan amount: 80% of the contractual or appraised value of the property, but not more than 15 million rubles, if the borrower does not confirm his income.
Loan term: up to 30 years, but with the condition that the last payment will be made before the 75th anniversary of the borrower.
No commissions.
Special preferential conditions are provided to participants in salary projects of Sberbank.
Early repayment is allowed at any time without restrictions and penalties upon notifying the bank.
Residential property insurance is mandatory.

The purchased apartment is issued in a bank pledge and encumbrances are imposed on it. After that, the borrower cannot carry out any legal actions with the residential property without the consent of Sberbank.

Repayment of the loan under the MSC program occurs exclusively on an annuity schedule. This type of repayment implies the same monthly payment. 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 in Sberbank in 2017 with parent capital are not required. The list of requested documentation is simple and does not require lengthy wanderings through government agencies.

Sberbank for processing a loan application requires:

Documents for the disposal of the MSC for repayment of the mortgage:

MSC certificate;
certificate of the Pension Fund on the balance of maternity capital, taken no more than 30 days ago.

Passport and at least one other document confirming the identity of the applicant.

Application form.

Documents confirming permanent financial income and current employment of the borrower.

Certificates of marriage and birth of children.

Confirmation that the family has financial resources to pay the down payment (the remainder of it).

Documents for the selected real estate.

The provision of 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 the seller of the apartment.

The unofficial income of citizens by Sberbank is also taken into account, but they should not be the main one. Such "gray" additions to the family budget cannot be obtained through illegal actions of the borrower.

Step-by-step algorithm for buying an apartment on a mortgage with MSC

The path to your own apartment is sometimes difficult and often goes through a series of bureaucratic procedures. To buy an apartment at the expense of the state and the bank, it is necessary to satisfy the requirement of both instances. Below is a step-by-step scheme of actions for obtaining a mortgage loan:

A search is made for a residential property that meets the desires of family members.
Clarifies the ability of a financial organization, a real estate seller to participate in a transaction with the participation of maternity capital.
An application is submitted to Sberbank for a loan. Documents are considered in 2-5 days.
A package of documents is collected, contracts are signed with the bank and the seller.
Sberbank transfers the agreed amount, which is withdrawn and stored in a safe deposit box with exclusively shared access.
The borrower formalizes the ownership and submits new documents to the bank.
The seller receives money from the safe.
An application for the use of the MSC certificate with a package of documents is transferred to the PF.
The Pension Fund reviews the documentation and transfers funds to Sberbank according to the specified details.
After paying off the loan, removing the encumbrance and taking full ownership of the apartment, family members must distribute the shares of ownership among all children, in accordance with the signed commitment.

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

How to pay with maternity capital a mortgage at Sberbank?

To pay off the mortgage in Sberbank by the parent capital, you must follow the following algorithm of actions:

Get a certificate from Sberbank on the balance of credit debt for transfer to the Pension Fund.
Submit an application to the Pension Fund. Together with it, the received certificate of debt, originals and copies of bank loan documents, as well as documentation for the apartment are attached.
Write a commitment on the allocation of shares to children in the acquired real estate after full payment of the loan.
Receive from the PF RF a positive decision on the transfer of funds.
Provide bank details for transferring the amount of MSCs in payment for the loan.
After the transfer of funds, which takes place within a month, you can get a new repayment schedule or a certificate of full payment of the mortgage loan from the bank.

If the loan obligations have been finally repaid, then you need to contact the Federal Registration Service to remove the encumbrance from the real estate.

How to sell an apartment in the mortgage of Sberbank with parent capital

Life circumstances can force the owners of a mortgage apartment to sell their home. But what if the apartment is on credit, and even bought with partial payment by the parent capital? The main legal problem is the obligation of the parents to transfer part of the apartment to 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 paid off on the day of purchase and sale of the apartment with the consent of the bank. Documents for the removal of encumbrances and change of ownership 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 that, the buyer extinguishes the loan and removes the encumbrance.

Although the 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 allocate to the children the proper shares of ownership in the new housing, notifying the branch of the PF about this.

Use the state financial assistance in the form of MSC certificates faster, because this program is currently only extended until the end of 2018. If in doubt, call Sberbank, where consultants in a polite manner will always advise you on the subtleties of procedural issues. And intermediary companies will help you avoid wasting time when going around government institutions.

The program is designed for families with two or more children. If you are going to improve living conditions by attracting a mortgage with maternity capital in Rosbank, you will be able to:

a) reduce the amount of own funds required initially to purchase living space;

b) save time: funds are transferred to the bank account by non-cash payment from the Pension Fund;

c) optimize the terms of the mortgage - with the use of maternity capital for partial early repayment, the amount of monthly payments or the loan term (at the borrower's choice) can be reduced.

Requirements for a mortgage borrower

Clients wishing to take out a mortgage (home loan) against maternity capital must meet the following requirements.

General, or basic, established by the bank for any program: age from 20 years at the time of registration and up to 65 at the time of repayment, confirmation of work experience (at least 6 months at the last job) and solvency.
Private, provided for by the special program "Lending taking into account maternal (family) capital": the presence of an appropriate state certificate for and certificates from the Pension Fund of the Russian Federation about the amount of funds due to you.

What can you buy in a mortgage for maternity capital?

Check out Rosbank's special offer

How to pay off a mortgage with maternity capital in 2018 - you will find a detailed answer to this question by reading this article.

One of the most common ways to use maternity capital is to improve the living conditions of the family. At the same time, funds can be used not only for the purchase of housing or its construction, but also for the repayment of the mortgage loan. The clear advantage of this use is that no need to wait 3 years for the second child... The family can buy a home earlier or reduce the burden on the family budget. In the article, we will deal with all the nuances of using maternity capital to pay off a mortgage.

Ways to use maternity capital in a mortgage

To date, the size of the maternity capital is 453 thousand 26 rubles. These funds, as a rule, are enough for 10-40% of the cost of housing, depending on the region of residence. The use of maternity capital allows you to significantly save family money and close the mortgage in a shorter time.

Capital can be spent with a mortgage in several ways:

Down payment payment... Not all banks work according to this scheme, therefore, during the initial consultation, it is necessary to inform the bank employee that the first installment is paid at the expense of capital. In any case, most banks do not allow capital to be used as 100% of the contribution. In this case, the borrower needs to pay at least 5% of the cost of housing at the expense of personal funds (capital can be raised in this way only after the child is three years old).
Repayment of the principal debt ahead of schedule... This method is interesting when the mortgage was issued before the right to maternity capital arose. It is most convenient for both sides. The borrower makes an early repayment, due to which he can reduce the obligatory payment or the term of the loan. For the bank, this procedure does not carry any risks.
Payment of interest on a loan... This scheme is rarely used. For the borrower, it is interesting only if he does not plan to make early repayment in the future. The bank receives a guarantee that the interest will be paid.

Application of capital as a down payment

If a potential borrower plans to use maternity capital as a down payment, then it is necessary to choose a bank and a loan program that allows this.

Requirements for borrowers for such loans may be stricter, since the procedure carries a certain risk for the financial institution. It is not necessary to draw up a deposit or advance agreement before obtaining the consent of the bank.

In addition to the standard package of documents, a credit institution must also provide a certificate for maternity capital and a certificate from the Pension Fund, which indicates the balance on the account. After reviewing the documents and making a positive decision, you can set the date for signing the purchase and sale and the loan agreement. Further, the procedure will look like this:

After the conclusion of the contract, it is necessary to register it in the state register, in accordance with the current legislation.
The registered agreement is submitted to the bank, and it issues credit funds (cashless transfer to the seller or providing him with access to the safe, where the funds were previously deposited).
In the bank, the borrower receives a certificate of the balance of the debt, and together with other documents transfers it to the Pension Fund.
The Pension Fund reviews the documents (it usually takes up to two months). If approved, notifies the borrower and transfers funds by bank transfer to the borrower's loan account.
The bank recalculates the schedule and thus reduces the mandatory payment.

The participation of maternity capital not only allows you to significantly reduce the cost of your own funds when buying real estate, but also increases the loan amount that the borrower can count on based on his income.

It is possible to use capital as a first installment only if there has not yet been a single payment of it. If the withdrawal of funds has already been carried out, for example, for the study of a child, then the capital can only be used to pay off the mortgage.

It should be noted right away that only the loan that was issued to improve the living conditions of the family can be repaid with capital, and the appropriate intended use of the funds should be indicated in the contract. If the family took out a loan for their own real estate, and sent the money for other purposes, then it will not be possible to pay off the balance of the debt with capital.

The borrower under the agreement can be both the mother, who has the right to maternity capital, and the father of the child, but only on the condition that they are officially married.

To pay off the mortgage, first of all, you need to contact the Pension Fund and issue the certificate of capital itself.

Contacting the bank, where you need to inform about your intention to make an early repayment and get a certificate of the balance of the debt. It is also advisable to immediately write an application for unscheduled repayment, since most banks require in advance to notify in writing of any repayment more than a mandatory payment.
Applying to the Pension Fund and transferring the required package of documents, namely:

a document that confirms the identity of the person who owns the certificate (mother, father or guardian);
application for the payment of maternity capital of the established form;
a certificate for maternity capital (if you lose it, you must issue a duplicate in advance in the Pension Fund);
a loan agreement (the intended use of funds must be indicated, which implies an improvement in the living conditions of the family);
a bank statement indicating the current loan balance;
a notarized obligation of the property owner to arrange housing for all family members after the loan is closed and the bank has removed the encumbrance;
additional documents at the request of the Pension Fund (power of attorney, if the documents are submitted by a trusted person; court decision, if one of the parents is deprived of parental rights, etc.).

The Pension Fund accepts the documents and issues a receipt to the applicant.
The decision will be made no later than 2 months. After that, the applicant will be notified in writing.
If the decision is positive, the bank transfers funds to the borrower's loan account. Maternity capital cannot be obtained in cash, so attempts to cash out in this way are useless.

During the period of consideration of documents in the Pension Fund, the applicant has the right to reconsider his decision and cancel his application. To do this, you need to write a new application.

If the borrower does not apply to recalculate the schedule, then with the annuity schedule, the payment will remain at the same level, but the loan repayment period and the total overpayment will be reduced. If you want to reduce the mandatory payment, you must contact the bank and write a corresponding application. After changing the schedule, its new calculation must be provided to the borrower.

Maternity capital can only be used to pay off principal or interest. It is prohibited to use it to pay off any penalties.

If the amount of capital is sufficient to fully repay the balance, then further steps must be taken to remove the encumbrance. After that, the owner is obliged to fulfill his obligation and register the property in the shared ownership of all family members. If this is not done, then the Pension Fund has the right to withdraw the payment in court.

Reasons for refusal

The pension fund may refuse to the owner of the certificate for the following reasons:

submission of not all documents or filling out an application with errors;
deprivation of the owner of the certificate of parental rights to the child, whose birth became the basis for obtaining the right to maternity capital;
the applicant has committed a crime against the child;
the presence of restrictions on the use of maternity capital in relation to the guardian (if such a restriction is temporary, then the guardian can submit documents upon its termination);
social services took the child out of the family.

In the first case, it is easy to solve the issue: the Pension Fund will announce exactly which documents are missing and what is incorrectly indicated in the application. After eliminating the errors, documents can be resubmitted. In other cases, the right to maternity capital may be lost.

Other reasons for the refusal of the Pension Fund are unlawful.

The nuances of using maternity capital

The application for the payment of funds can be canceled, but you cannot "change your mind" if the funds have already been transferred to pay off the mortgage. Therefore, it is worth weighing in advance all the advantages and disadvantages of such use of funds. If there is a likelihood of the sale of the mortgage apartment after the loan is repaid, then it is better not to use the maternity capital, since the permission of the board of trustees will be required.
A child can independently use the funds of maternity capital after reaching the age of 23, but only if the mother and father lose their rights to capital. Therefore, he will be able to issue a mortgage on his own or repay his loan only if the specified condition is met.
If the borrower has enough maternity capital funds to fully repay the loan, then the borrower can initiate a refund of paid insurance payments, which will also receive additional funds.

The money under the certificate can be used to pay the initial payment and (or) repay the principal debt and interest on a targeted mortgage loan or a loan for the purchase (construction) of housing.

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Mortgage lending for families with two children or more is one of the main opportunities to use funds secured by a maternity capital certificate. By using money from the mother capital for housing loans or loans, a family that needs to improve housing conditions can expect in 2019 to receive a payment from the state in the amount of up to 453 thousand rubles without waiting 3 years.

In general, under Russian law, a mortgage means mortgage of real estate(apartment, house, room or share in the property), which is received by the financial institution (mortgagee) until the full settlement of the issued loan funds.

That is, the borrower:

takes a home loan or a targeted loan for a mortgage;
the bank receives housing being purchased or under construction as a pledge until the full repayment of the debt and interest on the loan;
for the possibility of full disposal of real estate, the final ownership right is drawn up after the deposit is removed from the living space (that is, after the full payment of the borrowed funds, interest, commissions and penalties for delays).

At the legal level, mortgages are regulated by Federal Law No. 102-FZ of July 16, 1998 " About mortgage (mortgage of real estate)". Not only housing, but also a land plot, an enterprise or other property can be provided as a pledge.

A mortgage loan secured by maternity capital most often involves an apartment in the form of collateral. Financial organizations do not lend money for the construction or purchase of a house as willingly as for square meters in apartment buildings.

How to use a mortgage capital

According to the Decree of the Government of the Russian Federation No. 862 of December 12, 2007 “ On the Rules for channeling funds (part of funds) of maternal (family) capital to improve housing conditions", One of the possibilities to use the means under the certificate is purchase or construction of housing... If these procedures are carried out with the conclusion of a loan agreement, then the money from the mother capital in non-cash form can be transferred to the credit organization that provided the loan. However, this requires compliance with a number of specific conditions.

Funds under the certificate can be used for the following purposes:

payment of the first installment under a housing loan agreement, including mortgage, or under a target loan agreement;
depositing funds to the account of the principal debt on the loan and payment of interest.

It is allowed to pay by means of the capital only targeted loans- that is, taken for the purchase or construction of housing. A loan agreement can be concluded both before the family has the right to maternity capital, and after. In this case, not only the holder of the certificate has the right to be a participant in the transaction, but also his (her) spouse.

Attention

It is strictly forbidden to send funds from the mother capital to pay off fines, penalties or various commissions under loan agreements. The purpose of using the funds must be indicated in the application for disposal to the Pension Fund (PFR) and confirmed by the relevant documents listed below.

It should also be noted that home loans using maternity capital are often implemented using special banking programs, according to which a government subsidy can be invested in the payment of the principal, interest or the first loan installment.

Pay off your mortgage mat. capital

If the mortgage has already been taken, and a second (third) child is born in the family, the family has the opportunity to contribute part of the funds from the money provided for in the certificate for the mother capital as an early payment.

In practice, it is much easier to send money from maternity capital to an already taken home loan than to apply for a new one.

Maternity capital to be repaid mortgage taken earlier, can be used after submitting the relevant application to the FIU. The money is transferred from the account of the Pension Fund of the Russian Federation to the account of a financial institution in which the purchased housing is secured.

Process repayment of the mortgage by the parent capital occurs in the following sequence:

If a ready-made housing is purchased (and not in a building under construction), the borrower immediately takes ownership of the apartment in Rosreestr. At the same time, the extract from the Unified State Register of Real Estate (USRN) will indicate that the apartment has been transferred to a mortgage.
A credit institution (bank) takes a certificate of the current loan debt.
The required package of documents is collected and submitted together with the application for the order to the FIU for consideration.
The application is considered by the Pension Fund within a month. If it is approved, then the capital will be transferred to the credit institution within 1 month and 10 working days from the date of registration of the application.
After the money has been transferred, the bank recalculates and draws up a new payment schedule.
The borrower continues to repay the loan.
After the final settlement with the bank and the signing of all the papers, the encumbrance is removed from the apartment, and the new owner formalizes it into the ownership of all family members.

Loan repayment documents

The maternity capital for the repayment of the mortgage, issued earlier, is transferred by the FIU to the account of the credit institution after the submission of the documents listed in clauses 6 and 13 of government Decree No. 862 of December 12, 2007.

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For those who want to use maternity capital for a mortgage, documents are provided according to the following list:

application for the targeted direction of funds (to be filled in with the FIU);
an identity document of the applicant and confirming his registration;
if the documents are submitted by a legal representative - his identity card and notarized power of attorney;
if the loan agreement is concluded by the spouse of the certificate holder - the spouse's passport and his registration document, as well as a marriage certificate;
a copy of the lending (loan) agreement and, if available, a mortgage agreement with a mark of state registration;
certificate from the bank about the balance of the principal debt and interest debt;
a document confirming the transfer of the loan (credit) to the account of the developer or seller of housing;
if the residential object has not yet been registered as a common shared ownership of all family members - in writing obligation to complete such registration within 6 months after:
- removal of encumbrances from housing (with a mortgage);
- its commissioning (in case of shared construction);
- immediately after the transfer of funds from the FIU (in other cases).

The following documents are provided depending on the purpose of the loan and are required for confirmation of the intended use of money(improvement of housing conditions):

extract from the USRN on ownership for the purchased object (if an already completed apartment was bought or the construction of housing for which a loan was issued was completed);
shared construction participation agreement(if the owner of the certificate or his spouse acquires an apartment in an apartment building under construction);
statement of membership in a housing cooperative(if the loan was issued to make an initial or share contribution to the housing complex, housing cooperative or housing construction company);
permission to build an individual residential house(if the bank has agreed to issue a loan for such a case, and the house has not yet been put into operation).

Maternity capital for the down payment

Until 2015, the opportunity to use funds for the first installment on a mortgage loan was provided to certificate holders only after three years from the moment of birth or adoption of a child.

Legally, the opportunity to direct funds for an initial loan payment up to 3 years appeared after the entry into force:

Federal Law No. 131-FZ dated May 23, 2015 on amendments to Art. 7 and 10 of the basic law on maternity capital;
Resolution of the Government of the Russian Federation No. 950 dated 09.09.2015 on amending the "Rules for the allocation of maternity capital funds to improve housing conditions".

After making such a decision, the Government forecasted the growth of the mortgage lending market by 5-30%, but there was no particular increase. In practice, certificate holders wishing to exercise this right faced technical difficulties.

Conclusion

According to the current legislation, the owner of the maternity capital certificate can take a target housing a loan or loan for the purchase or construction of housing. According to a statement to the FIU, the funds secured by the certificate are used to pay off the borrowed money.

The indisputable advantage of such a targeted investment is that the money can be disposed of immediately after obtaining the right to maternity capital, that is up to 3 years of age... In fact, this rule is valid so far only for the payment of already taken mortgage loans. In practice, the mother capital for the first installment on a loan is still used, but usually after the child turns 3 years old.

In addition, some Russian banks offer special mortgage lending programs with the use of maternal capital at a reduced interest rate.

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