Mortgage subsidy: features, necessary documents and recommendations

Subsidizing mortgage lending is a developed social program that operates within the framework of Russian legislation and is aimed at improving the living conditions of low-income and large families. It is important to understand that only those who really need this help can turn to the help of this program. In this article we will talk about what kind of program it is.

Subsidy, mortgage, state support - with all these phenomena, Russian citizens are increasingly meeting, as this is a good chance to improve their living conditions. The state implements programs to help the needy to purchase their own square meters.

It is important to understand that the funds for the implementation of the program are allocated from the federal or regional budget. Therefore, the whole process of registration is strictly controlled by the relevant authorities, including a thorough examination of the submitted documents.

General idea of mortgage lending with a subsidy

Most Russians solve their housing problems with this type of lending. Thanks to government support, borrowers who make out mortgages can count on a lower cost. It can be expressed both in a lower interest rate and in a fixed amount transferred to the borrower's account, which he must spend only to repay the existing debt.

If it is a question of obtaining subsidies, then the original rules of payment can be slightly changed at the discretion of the regional government. If necessary, the bank has the full right to demand the provision of additional documentation or to set additional conditions. Subsidies for mortgages for young families are the most common type of state support, under which the state takes on 40% of the total cost of the purchased apartment or house. This program has been in operation since 2012, and today it has been used by thousands of Russian citizens.

The importance of subsidies

With the development of the credit system, most organizations have somewhat simplified the conditions for obtaining consumer loans, as well as mortgages by reducing the interest rate. However, in fact it turns out that paying such a large debt is not at all easy. In addition, mortgages are long-term loans, and no person is able to calculate all possible difficulties in life. Therefore, such assistance as a subsidy for mortgage repayment is significant for many families. However, not everyone can use this privilege.

Who can expect to receive subsidies?

Only those citizens who really need it can apply for a mortgage subsidy. The requirements for candidates in each state program are different. Persons who can expect to receive subsidies include:

1. Large families.
2. Servicemen, including citizens, who took part in hostilities.
3. Citizens with disabilities.
4. Young needy families.
5. Persons who have documented evidence that they do not have adequate communal living conditions.

Feature of obtaining

Depending on the region, certain rules are established for obtaining a subsidy to pay part of the mortgage lending obligations. And although there should not be much difference, before submitting documents, it is recommended that all requirements for obtaining subsidies be clarified. To begin with, employees of social services are required to check all the documents submitted. It is important to note that the mortgage is a specific type of lending, therefore, each delay in the previously concluded contracts may adversely affect the decision on subsidizing. In this case, the CI (credit history) data is taken to general information.

How to get a mortgage subsidy?

State support, offering subsidies, is aimed at partial repayment of the mortgage debt. If we compare with the total amount of debt, then such financial support will not cover even half of the expenses, but it is worthwhile to understand that any help in such a difficult matter will greatly ease the burden of citizens. The subsidy for mortgages for each program is different. Even after receiving assistance from the state, the borrower must continue to fulfill its obligations to repay the loan in an appropriate manner.

In order to begin processing the subsidy, the applicant must come to the banking institution and write an appropriate application. Further it is necessary to collect the necessary package of documents, which is compulsorily examined by social workers. It is extremely important to ensure that all certificates are processed in accordance with the stated requirements.

What documents do I need to collect?

A subsidy for the repayment of a mortgage is issued only to needy citizens. Therefore, before receiving assistance, the borrower must prove this. At first glance, it may seem that the design will require a lot of effort and time. But that the mortgage subsidy has been approved, the borrower needs to collect a standard package of documents, which is familiar to every person who ever makes out a consumer loan. The mandatory list includes the following documents:

1. Application for mortgage lending and subsidies.
2. Passport of a citizen of the Russian Federation.
3. SnilS.
4. INN.
5. Original and a copy of the military ticket if the age of the man is less than 27 years.
6. Documents related to marital relations: certificate of conclusion / dissolution of marriage, execution of contractual obligations.
7. Certificate of birth of a child (for families with children).
8. A copy of the workbook certified from the place of work.
9. A certificate of income confirmation in the form of a bank or a generally accepted 2-NDFL.

It is important to note that when choosing a bank where it is possible to use subsidies, it is necessary to obtain information about additional requirements in advance.

Maternity Mortgage

If the issue of subsidizing affects the receipt of a mortgage home for a young family, the first form of state aid is to receive maternity capital. According to this program, after the appearance of the second child, each family receives a family certificate. Its use is designed to solve certain tasks, therefore, it is not possible to receive cash, this type of support can also be attributed to a subsidy for children. The mortgage can be extinguished by the parent capital, more precisely it provides for a partial payment of the housing loan.

Recommendations

Well, if there are acquaintances who recently filed a subsidy for a mortgage loan. They can suggest some nuances that will help get a positive response from the relevant authorities and take advantage of state support. After all, as is known, the expenditure of budget money is under strict control. A mortgage subsidy will not be issued without checking each submitted document. Candidates must clearly meet the requirements of the program for which a mortgage is issued. The queue for a subsidy is another important feature of this type of state support. Not all citizens who can apply for help can get it by collecting the necessary documents. Every year only a certain amount is allocated for the cancellation of the mortgage. Sometimes the subsidy has to wait more than one year.

Summarizing many of the tips given by citizens who have already received such assistance from the state, one can single out several of the most popular:

1. It is important to calculate your own financial resources so that in the future there will be no unforeseen circumstances and, especially, the emergence of debt on debt obligations. The mortgage subsidy will pay off only part of the debt. Many young families, full of enthusiasm, make this mistake. Subsequently it turns out that many families are simply not physically ready for various reasons, in accordance with their financial situation, to make monthly payments of the required amount.
2. The less credit period is used, the more confidence you can win from absolutely any bank.
3. If there is an opportunity to confirm receipt of additional income, then certainly it is worth using it. So, for example, if one of the family members leases another housing and receives income from it, then it is possible to provide a lease agreement concluded between the lessor and the lessee.

Conclusion

It is important to remember that at the conclusion of an agreement, absolutely any bank is at risk, even if a mortgage subsidy is used to repay part of the debt. To refuse registration can and to those potential borrowers for whom the state help under one of programs has been approved. In addition, all potential recipients of a loan for the purchase of housing should be careful when choosing a credit institution. It is best to contact trusted banks that have positive feedback and popularity among customers on the territory of the Russian Federation.