Mortgage with government support: how to use it?

Due to the insufficient level of construction of municipal housing and the too slow pace of providing those in need and waiting for property, the state launched a program of financial support for families when buying apartments. Along with the possibility of making money from "maternity capital" and getting a tax deduction, buyers can now apply for housing subsidies.

To find out what a mortgage is with state support, and what categories of families can expect help, you will need to contact the local executive authorities. There you should also provide the necessary set of documents for issuing a certificate for the grant: application, passports, marriage certificate, documents that confirm the need to improve housing conditions, and others. The state is ready to finance up to 40% of the cost of housing (with its purchase using the program "Mortgage with government support").

In reality, everything does not look so rosy. First, to obtain a subsidy, it is necessary that the family be recognized solvent. After all, a mortgage with state support provides that the rest of the cost of housing "cell of society" pays out of its own resources. Secondly, when calculating the amount of the subsidy, two indicators are used: the amount of living space per person (now it is set at 18 square meters for a family of three) and the average price is 1 sq.m. Living space in Russia.

It is clear that the use of the latter indicator is justified only for the purpose of saving public funds, because the price of housing in Moscow and in the village beyond the Arctic Circle is ten times different. Thus, a mortgage with state support may turn out to be profitable, but only to that category of the population who is able to buy a home in a large city and without attracting any subsidies, since the real amount of compensation will not be 40%, but only 10-15% ( When buying an apartment in a metropolis).

Among all Russian banks, only VTB-24 and Sberbank are working under this program. Mortgage with government support in these organizations provides for loans up to 80% of the cost of housing (considering that the real amount of the subsidy is usually less than 20%, it is clear that part of the initial contribution to the family still have to accumulate). The lending rate is 11%, the period is up to 30 years. The borrower is also given the opportunity to use maternity capital to pay off and receive a tax deduction for the interest paid.

Receiving a certificate for a grant usually takes several months, since the application is considered in the executive bodies of all levels. Given the monthly increase in house prices in large cities, it can be said with confidence that in conditions of the modern real estate market and when using average house prices in settlements, a mortgage with state support is practically meaningless.

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