Mortgage for single mothers in Sberbank in 2021 - can a single mother apply for the purchase of a home using a mortgage loan

When the question arises of where to go to get a mortgage loan for single people, it is worth considering different options. A mortgage is one of the quick and convenient ways to improve your living conditions. This is especially important for people who have or are planning to have children. Children grow quickly: within a couple of years after birth, a child needs a separate room. Thanks to benefits for single mothers, obtaining housing loans has become more accessible to this category of the population. You can get a mortgage for single mothers at Sberbank using a special program.

Mortgage in Sberbank for a single mother

When issuing any loan, the bank takes into account its risks and the financial capabilities of the borrower. This is especially important when obtaining a mortgage loan, since it is given for a very long period and the bank cares not only about the client’s current state of affairs, but also about the prospects for his financial situation. In this sense, of course, they are more willing to give mortgages to married couples, since the income of two spouses is taken into account. The bank also assumes that if something happens to one spouse’s job, the other will still have a source of income.

Therefore, it is much more difficult for a single mother to take out a mortgage loan for an apartment, because usually her income level is only enough to support herself, her child and to make small savings.

At the same time, mortgages for single mothers became possible thanks to special programs from Sberbank and its subsidiary service “Dom.Click”. The loan rate in this case will be from 6 to 9% per annum, which is quite acceptable. The bank also has the right to require the client to make a down payment of at least 15% of the cost of housing.

Pros and cons of programs for single mothers

Mortgage programs have both advantages and disadvantages.
Advantages of the program for single mothers:

government subsidy;
the opportunity to use maternity capital to pay off a mortgage or make a first payment;
reduced interest rate;
preferential price per square meter.

The disadvantages of social mortgages are:

Only by fully repaying the loan does the borrower become the full owner of the property. According to the standards, there are 18 sq.m. per person;
The borrower does not have the right to independently choose the housing space. Social mortgage involves the purchase of an apartment in a municipal building, which was built with budget money;
social programs do not imply the purchase of housing on the secondary market;
There are long queues for purchasing subsidized housing, so project participants have to wait quite a long time.

Small income: how to get it

In a situation where the income level of a single mother does not reach the bank’s requirements, the chances of obtaining a mortgage loan are minimal.
In such cases, a woman should look for the following additional ways to confirm her solvency:

the presence of other real estate or expensive property that can act as collateral for a mortgage. In such a situation, lenders reduce risks, lending conditions improve, and the chances of obtaining a loan increase;
the presence of additional income, such as a pension, benefit or another income. The financial institution that issues the loan takes into account all available income of the potential borrower, both basic and additional, subject to the availability of certificates and documents. In this case, the chance of getting a loan increases, and the bank is more loyal;
attracting co-borrowers. Absolutely all mortgage programs provide for the presence of co-borrowers. A single mother can ask for help from relatives, acquaintances and friends when applying for a loan. The bank takes into account the total income of all participants, and then makes a decision on whether to grant a mortgage.

Above average income, is it possible to get

If you have a decent salary and a positive credit history, it will not be difficult for a single mother to obtain a mortgage agreement. Banks are interested in a sufficient level of income of borrowers, as this allows them to pay all personal expenses and loan fees.

Sberbank requirements for a single mother

The conditions for providing a mortgage for a single mother at Sberbank are no different from those that apply to ordinary borrowers.

Basic banking requirements when providing preferential mortgages:

having a permanent income that can be documented;
be at least 21 years old and not older than 75 years old at the time of repayment of the mortgage loan;
time worked in the last place - at least six months;
total work experience in a permanent official job - at least 1 year;
having a positive credit history and no overdue payments on other loans.

Expert opinion
Irina Bogdanova

Expert in the field of mortgage lending.

According to current legislation, the payment for a housing loan should not exceed 60% of the total family income. If one official source of income is not enough, you can indicate additional income to the bank: from renting out housing, alimony payments, freelancing activities.

Those hoping to receive a preferential mortgage will also need to present documents confirming their right to benefits:

about the need to improve living conditions;
about the birth of a child;
about the status of a poor woman.

Mortgage for a divorced woman with one child

On the one hand, it will be easier for a single woman with a child to take out a loan for housing than for a woman with two children, since the bank will take into account not only income, but also expenses, as well as the client’s solvency. There will be fewer expenses per child.

In addition, upon the birth of the first child from January 1, 2021, a single mother also receives maternity capital in the amount of 466,617 rubles, which can be spent on a down payment on a mortgage or on paying monthly payments later.

Also, after the birth of your first child, from January 1, 2021, you can use the “Young Family” program, under which the state pays 35% of the cost of housing as a subsidy, that is, then you will not have to return this money.

Mortgage for a divorced mother with two children

For a divorced or single mother with two children, obtaining a loan will differ slightly from obtaining a similar loan for a woman with one child. Formally, the bank will present the same conditions as for a mother with one child. But it is worth remembering that with two children it is much more difficult for a woman to repay a loan.

So, in this situation:

high expenses for children;
the risk of a child becoming seriously ill doubles;
the mother is also more likely to lose her job;
It is more difficult for single women with two children to find a job later.

Therefore, the bank may require an additional guarantee for loan repayment. This may be a pledge of some property or a guarantee from another person.

A mother with two children receives the same benefits and preferences from the state as a woman with one child. The only difference: upon the birth of a second child from January 1, 2021, maternity capital is 616,617 rubles.

Maternity capital plus mortgage

Maternity capital is provided to single mothers along with their families at the birth of their second and subsequent children. The amount increases annually, in the current year 2021 it is 453 thousand rubles. Improving living conditions is included in the intended use of funds, therefore a single mother of two children has the right to:

Payment of the first installment. Then, for approval of the application, a sufficient condition will be the presence of a stable personal income or a joint income with co-borrowers or guarantors to make monthly payments towards the loan repayment.
Early repayment. If a mortgage for a mother and child has already been issued, then when the second baby appears, it is possible to use the funds from the received certificate to pay off loan obligations ahead of schedule.
Lending on preferential terms. Potential clients may make an initial payment from personal savings, but the presence of a certificate may be taken into account when considering the application and counted as a reduction in the initial payment or against future payments at the client's request.

To avoid misuse, the owner of the certificate does not receive funds personally, but writes a statement indicating the amount and direction to the pension fund. The Pension Fund has the responsibility to transfer money and control the expenditure of funds.

How can a single mother get a mortgage loan?

There are three ways to get a mortgage for a single mother from Sberbank:

Get a mortgage on a general basis. This is the simplest way, but it is important that the mother’s income is enough to repay the loan.
Take a non-targeted loan from Sberbank. This option is suitable when about half of the amount for the apartment is paid through the sale of old housing or other personal money. In this case, all that remains is to get a small amount, which can be obtained as a regular loan. The advantages here are that the new housing can act as collateral for the loan, but at the same time it will not be possible to evict the residents from it in case of non-payment of the debt.
Take a soft loan with government support. In this case, you will need to provide documents about previous housing, the need to improve living conditions, the availability of government preferences, low-income status, etc.

Stages of obtaining a mortgage

At Sberbank, applying for a mortgage for a single mother is carried out in different ways:

Prepare a package of documents yourself and contact the Sberbank branch where applications for mortgage loans are accepted
Collect a package of documents, scan them and apply for a loan online on the Dom.Click portal. If the bank's decision is positive, a visit to the office will also be required.
Contact developers who cooperate with Sberbank. Sometimes they offer preferential loans for their new buildings.

Contact the public services center to join the “Young Family” program and receive a subsidy for it. Also, as part of the program, a mortgage from Sberbank will be offered.
Contact a realtor and, with his help, not only choose an apartment, but also apply for a loan.
Contact a credit broker who will help you prepare documents and choose the most profitable program.

Applying for a mortgage loan through commercial specialists - brokers or realtors - is much easier. However, it should be remembered that they are interested both in the success of the transaction and in its amount. Therefore, it will not be profitable for them to help in applying for a preferential program.

After approval of the application, you can conclude a loan agreement with the bank and purchase property within 90 days.

Necessary documents for obtaining a mortgage

To apply for a loan, you must first provide a complete package of documents:

Passport.
A second document that identifies the individual, such as a driver's license.
Documents confirming receipt of permanent income: 2-NDFL certificate, property rental agreement and bank statement confirming receipt of funds or payment of alimony.
Certificate for receiving maternity capital.
Single mother certificate.
Divorce document if the woman was previously married.
A certificate from the bank account where funds for making a down payment are kept, or an extract from a personal account confirming the availability of maternity capital.
Child's birth certificate.

If you plan to participate in the Young Family preferential program, then you must first submit documents to the multifunctional public service center at your place of residence. Once you are approved for enrollment in the program, you must submit an application for a loan. If a positive decision is made, you can begin choosing housing (if it has not yet been chosen), and then sign a loan agreement and purchase an apartment.

At the request of the bank, the life and health of the borrower, as well as the collateral, that is, the apartment, must be insured.

Will they approve?

Many women who want to improve their living conditions are concerned about whether Sberbank will offer mortgages for single mothers in 2021. The main difficulty in approving a loan is the small amount of monthly total income. According to Russian legislation, when determining the loan size, mandatory expenses for utility bills are taken into account. Together with the loan payment, they cannot exceed 60% of the family’s total monthly income.

Therefore, Royal Finance specialists recommend that their clients attach all documents confirming receipt of profit in addition to wages to their mortgage application. This could include interest on bank deposits, funds from renting out property, engaging a third party as a guarantor, and others. In addition, there are several nuances that will confirm the client’s loyalty, help reduce the interest rate on the loan and get approval for a mortgage. These include:

receiving your salary on a bank card will allow you to get a discount of up to 0.5%;
life insurance for the period of validity of the contract reduces the rate under the contract by 1%;
registering in your personal account and submitting an application via the Internet gives an additional discount of 0.1%.

Considering that a loan for the purchase of real estate is a figure with six zeros, savings of 1.6% can amount to several tens of thousands of rubles.

Mortgage programs for single mothers

Mortgage conditions for single mothers at Sberbank generally do not differ from the conditions for other borrowers. In order to save on loan payments, you should first apply for participation in any preferential program offered by Sberbank. It would also be wise to use maternity capital.

Non-targeted loan

As a mortgage without a down payment, a single mother may be recommended a non-targeted loan. The requirements for such a product are usually slightly lower than for a mortgage. But the amount here may be significantly less. At Sberbank, a non-targeted loan can be obtained at a rate of 10.4%, which is quite comparable to the standard mortgage interest rate. The loan term for an amount up to 10 million rubles ranges from 1 to 20 years.

Advantages of a non-targeted loan:

It's easy to pay off early and save on interest.
There are no minimum amount restrictions.
There is no need to make a down payment.
You can pay off your debt in larger installments and save on interest.
There is no need to insure the apartment.
An apartment, if it is the only home or a child is registered there, cannot be foreclosed on by the bank. The bank can take away the mortgaged apartment in case of non-payment of the loan.

However, preferential programs do not apply to non-targeted loans.

Programs with government support

Programs with government support allow you to significantly save on interest, as well as partially pay for housing using government funds:

Social mortgage. Provided to employees of budgetary institutions: teachers or doctors.
"Young family". The program applies to families in which each adult participant is under 35 years of age. If the family is incomplete, but there is a child, then only the woman’s age is taken into account, and a single mother is given a preferential mortgage.
"Dwelling". Program for improving living conditions. People who live in an apartment where the number of square meters per person is below the housing standard in a particular region of the Russian Federation can apply for participation in it. In Moscow this minimum is 18 square meters. m. In other regions - from 11 to 18 sq. m. m per person.

Young Family Program

Single mothers who were not married can count on receiving benefits under the Young Family program.

To participate, the following conditions must be met:

The woman's age is not older than 35 years.
The income is not enough to purchase housing, which can be documented.
A woman must be recognized as in need of improved living conditions. It is worth noting that the birth of a child directly affects this factor, since with the birth of a baby the number of square meters in an apartment per person decreases.

Mortgages under the “Young Family” program are issued under the following conditions:

amount - from 300,000 rubles;
loan term - from 1 year to 30 years;
rate - from 7.6%.

After joining the program, you can apply for a preferential mortgage for single mothers at Sberbank, and then begin choosing an apartment. After the conclusion of the contract, the money will be transferred to the developer’s account if all the requirements set by the bank have been met.

Expert opinion

Irina Bogdanova

Expert in the field of mortgage lending.

Sberbank provides a discount on the loan to participants of the Young Family program. The interest rate will be reduced by 0.4%.

Mortgage and maternity capital

A single mother can use maternity capital both to pay the down payment on housing and to pay monthly contributions. Such support from the state is also available to participants in preferential programs, and the amount of capital can be spent on housing. In this case, the monthly mortgage payment will be lower, making payments easier. The likelihood of the bank approving your application will also significantly increase.

A mortgage for maternity capital is issued on the following conditions:

amount - from 300,000 rubles;
loan term - up to 30 years;
rate - from 4.1%.

However, it is worth considering that the bank is cautious about issuing loans for the purchase of an apartment with the participation of maternity capital and checks the questionnaires more carefully.

Government programs

In order to provide assistance in obtaining housing, the state has developed a special “Housing” program for single mothers in the form of two options – “Young Family” and “Affordable Housing for Young Families”.

Program participants, as well as their organizers and performers, faced certain difficulties:

participants have to wait for the due payments for a long time, since today there are long queues for the allocation of funds;
Funds cannot be used to purchase secondary housing.

The maximum amount of financial compensation is 2.2 million rubles.

"Young family"

This proposal is aimed at paying off mortgages for single-parent families where children are raised only by the mother or only by the father. A single mother will need to issue a certificate establishing the need to improve living conditions. She is also required to have a regular source of income. But if a woman is over 35, she will not be able to take advantage of this offer.

In order to take part in the state program, a woman will need to contact local administrative authorities. Once she has provided all the required documents, she will be informed of the decision at the end of the 10-day period. If it is positive, then the single mother will receive a certificate on the basis of which subsidy funds will be transferred to her. This amount can be used to repay the first installment or the body of the loan.

Loans based on the Young Family program are offered by various banks, including Sberbank. In order to increase the chances of getting your application approved, you can find guarantors.

“Affordable housing for a young family”

A single mother can get a mortgage under this program if she is also no more than 35 years old. The woman will need to prepare a certificate stating that she and her children need improved living conditions.

If a single mother has become a participant in the program, then funds will be transferred to her to pay off the down payment and subsidies for regular monthly payments.

Disadvantages of social housing

Housing benefits and preferential programs for single mothers help resolve the issue of buying their own apartment. The state is interested in helping low-income citizens, so another option for improving housing conditions is to obtain an apartment for social rent. In this case, it is necessary to pay for the provision of municipal housing.

However, there are some disadvantages here:

the apartment is not owned;
property cannot be bequeathed;
property cannot be used as collateral when obtaining a loan;
the apartment cannot be sold or exchanged for a more spacious one;
housing is provided strictly according to social norms, that is, it is impossible for a single mother to get a three-room apartment.

Subsidies for utility bills (housing and communal services)

In pursuance of the provisions of Article 159 of the Housing Code of the Russian Federation, a single mother has the right to apply for a subsidy in relation to utility bills if a number of conditions are met:

Expenses for housing and communal services exceed the maximum allowable cost established in the region, as a rule, more than 20%.
The woman is the owner of the apartment or the tenant of social housing.
The family lives in the locality and can confirm its registration at a specific address.
There is no debt on utility bills or a debt restructuring agreement has been concluded.

Moreover, regardless of the square footage of the apartment, the subsidy is provided only based on the norm of apartment meters per resident, including children.

In pursuance of Part 12 of Article 159 of the RF Housing Code, subsidies are not awarded to foreign citizens, therefore it is necessary to confirm your Russian citizenship.

Conditions of receipt

To obtain the right to reimbursement of costs incurred when paying for housing and communal services and to apply for a subsidy, a single mother must contact the social labor department. The Department of Housing and Communal Services, as well as representatives of resource supply companies, are not authorized to issue government subsidies.

The following must be attached to the application requesting reimbursement of utility costs incurred:

Passport;
Child metric;
Certificate in form No. 2;
Certificate of ownership;
Social tenancy agreement;
An extract from the personal account regarding payment;
Certificate of registration and family composition;
Certificate of income.

You can submit documents not only in person, but also with the help of the MFC, the State Services portal.

Mortgage calculation using Sberbank calculator

The Sberbank website contains a convenient and functional calculator for predicting possible payment options.

When calculating, the program takes into account not only the main indicators (annual interest rate and down payment, term and size of the loan), but also additional data:

participation in the “Young Family” program;
life insurance;
purchasing a home through the Dom.Click portal;
electronic registration of the transaction.

These data affect the interest rate and the final mortgage amount for the mother. Using the calculator, you can calculate your payment capabilities in advance and find out the preliminary amount of the monthly payment, and therefore predict the possibility of approval of the transaction by the bank.

Single mother with one child.

Single women raising one child have the same chances of getting a mortgage as married or childless women.
The main condition is the presence of a stable income, which is “white”: official employment.

Standard conditions for mortgage loan approval:

Official employment.
More than six months of work experience in one place.
Work experience over the last 5 years – more than 1 year.
Age from 21 years.

These are the basic conditions. They will also look at the number of dependents: for a mother with an only child, this item will not be a problem. The more children, the more expenses. Banks take this factor into account.

A good help would be to apply for a mortgage together with a co-borrower. It can be any family member or cohabitant.

A mortgage for a single mother with one child will be granted if the banks consider that she will be able to pay the bills.

How to reduce the interest rate on a mortgage at Sberbank?

Sberbank provides a lot of opportunities to reduce the interest rate, although in most cases it is reduced by only a few hundredths of a percent. Considering the term and size of the loan, these hundredths of percent in absolute value are significant.

You can reduce the interest rate as follows:

Apply for a preferential mortgage in 2021 at a fixed rate of 6.5%. You can buy housing under this program only from the developer and only in a new building. This program does not involve restructuring of past loans.
Become a participant in the “Young Family” program (the rate is reduced by 0.4%). If the mortgage has already been issued, the subsidy can be used to pay off the debt amount and then recalculate a new payment schedule.
Purchase an apartment through the Dom.Click website (the rate is reduced by 0.3%). Here you can buy an apartment only in a new building.
Insure life (the rate is reduced by 1%).

When is refusal possible?

If a woman is provided with housing, she is unlikely to be able to count on being placed on the waiting list. A refusal is also possible in a situation of high income, which does not allow one to be classified as a low-income citizen. Those who deliberately worsen their living conditions by registering other residents in the apartment or exchanging housing for a smaller area are not put on the waiting list.

Note! If a woman marries and her husband adopts a child, the single mother status is removed.

How to increase your chances of getting a loan as a single mother

To increase your chances of getting a mortgage and a positive decision from a financial institution, the following conditions must be met:

Pay careful attention to the paperwork. Mistakes in them can not only lead to refusal, but also ruin your credit history.
Choose the longest loan term. This will reduce your monthly payment, which means you will need to prove your lower income.
Provide the bank with certificates of deposits, ownership of shares or bonds.

Also, one of the most reliable ways to obtain a mortgage loan is to attract a guarantor. It could be one of the parents or other relatives of a single mother.

Procedure for obtaining a mortgage

How to get a mortgage for a single mother with a child? The procedure is no different from traditional loan processing. There are some peculiarities when using a government subsidy as a down payment. We will discuss the algorithm for obtaining such a mortgage in the next section.

An apartment is purchased with a mortgage by a single mother according to the following scheme:

Choose a suitable bank whose lending conditions suit you. You should pay attention to the interest rate, additional fees, convenience of debt repayment, requirements for borrowers and the property, loyalty of consideration, and the possibility of deferring payment. All these factors are very important, because, as a rule, a mortgage is taken out for a long term.
Submit an application for consideration to the bank, while it will only concern your solvency. If your income is not enough to approve the declared amount, you should involve a co-borrower, usually close relatives (parents, adult children) or a cohabitant. Please note that a new participant in a credit transaction for a mortgage for a mother with many children or with one or two children is not a simple formality. He will bear the same financial responsibility to the bank for repaying the loan as the borrower himself.
After approval, you should start looking for housing that meets the bank’s requirements. Collect the necessary documents and submit them to the mortgage department for review.
After checking the legal purity of the planned transaction, you can sign the loan papers and the purchase agreement. At the same time, the funds for the first payment for the apartment are transferred.
Documents are submitted to Rosreestr to register the transfer of ownership to the borrower.
After receiving the documents from the registration authority, they should be submitted to the bank for crediting the housing loan amount. The credit institution transfers funds to a current account, from where they are sent to the seller.

Recommended article: Where to get a mortgage for commercial real estate for individuals

From this moment on, the borrower has obligations to repay the housing loan. It may be more difficult for a single mother to get a mortgage than for a married woman, but only because it is impossible to verify her spouse’s income. When calculating her solvency, her salary will be divided among all minor children. As a result, there is often a very small amount left to pay off the mortgage, hence the small size of the approved loan.

Mortgage without a down payment for a single mother

It is impossible for a young mother to get a mortgage without a down payment. The only way out is to use maternity capital. Also, some developers provide preferential programs by agreement with Sberbank.

Interest-free mortgage for single mothers

There is no completely interest-free mortgage, even for single mothers, but there are options for saving on interest. For example, buying a home in installments from a developer. However, in this case, you will have to pay for the apartment directly with the construction company within six months. You can also try to get a subsidy from the budget, if this method is provided for by decisions of regional authorities.

How to apply online for a mortgage?

You can get a preliminary decision from the bank on a mortgage without visiting a branch. To do this, just fill out the application form on the website of the selected bank.

For example, Raiffeisenbank asks you to indicate in it:

FULL NAME.;
date of birth;
passport details;
the city where you plan to take out a mortgage;
telephone.

The application is reviewed within 1 – 10 days. You will receive a notification of its approval by phone.

A positive decision is valid for 30–90 days: during this time it is necessary to choose housing and agree on it with the bank.

Other social programs from Sberbank

In 2021, there is a separate social program from Sberbank for a reduced interest rate on mortgages, “State Support 2021”:

down payment amount - from 15%
mortgage amount - up to 12 million rubles;
rate - from 0.1% for the first year, then - 6.1%;
For loans issued for the purchase of a new building, a special rate of 6.5% is applied.

In addition, there is a mortgage to support families with two or more children, as well as in the presence of a child with disabilities:

loan term - from 1 year to 30 years;
loan amount - up to 12 million rubles;
rate - from 0.1% for the first year.

You can clarify questions about the procedure for obtaining a mortgage for a single mother at a Sberbank branch, online chat on the bank’s website, or by calling 900.

How to get approved

Whether a single mother will be approved for a mortgage depends on many conditions. Before submitting a loan application, you should reasonably assess your financial capabilities and, if necessary, correct shortcomings that are critical for the bank. How to get a mortgage for a single mother with a high chance of a positive response:

Check your credit rating. Every Russian has the right to receive his dossier from the BKI completely free of charge twice a year (). See if you are mistakenly listed with loans and credit cards that were not closed by the bank, or if there is an incorrectly indicated overdue period. Banking history is of great importance when approving a mortgage; it is what attention is paid to first.
If you have existing loans, try to pay off the debt on them. Monthly loan payments will be deducted from your income when assessing your ability to pay. This means that the bank will approve a smaller amount.
A mortgage for a mother on maternity leave without a regular income is unlikely to be issued. In this case, a co-borrower should be involved in the mortgage transaction. But his salary should be high, because it will be distributed to the main borrower and children. It is important that after deduction there are funds left to repay the home loan.
Use any options for state mortgage support for a single mother. If you are entitled to subsidies by law, be sure to apply for assistance from the budget. This will greatly facilitate payments and allow you to purchase the desired property.
Confirm all possible sources of income. For example, for a mortgage of a single mother with many children, you can show the bank social payments, alimony, pension (if any), any additional income (for example, from renting out housing or from part-time work).

For a single mother, the mortgage rate will be lower if she applies to the bank where she has a salary card. In addition, salary applications are processed faster and more responsively, so the chances of approval are very high. Organizations often offer special lending conditions for such clients, so when choosing mortgage terms, be sure to look at your salary bank.

About the status

To confirm her status, a woman must obtain a special certificate from the registry office. It will be issued if the woman:

raises and supports a child (children) alone;
divorced and has children born before marriage or after divorce, while the ex-husband did not adopt them;
corrected the children's birth certificates, where there is a dash in the paternity column;
adopted a child (children) without a husband.

On a note! Single mothers are not recognized as those who are raising children from an ex-husband, as well as women who gave birth out of wedlock, but the father recognized paternity (voluntarily or through the court).