How to get an apartment with a mortgage under the Young Family program in 2021

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Young families face the most pressing issue with their own housing. Young people are not able to save up to buy an apartment, which is due to the constant rise in prices on the real estate market. As a result, they often have to live with their parents or rent housing. In 2021, there are various government support programs, in particular a mortgage for a young family based on a social government program.

How does the program work?

The “Young Family” project operates within the framework of the federal “Housing” program. The rules for participation in it are prescribed in Decree of the Government of the Russian Federation dated December 17, 2010 No. 1050. The essence of this project is that young families receive a subsidy from the state, which can be spent on certain purposes:

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• buy ready-made housing on the primary market;
• invest in the construction of an apartment (house);
• spend on a down payment on a mortgage for a young family in 2021;
• partially repay the mortgage.

Attention
The resolution outlines only the key points - the conditions of the “Young Family” program in 2021 may vary in the regions. Therefore, details of this program should be clarified with the local housing policy department. There, employees will give full advice and pre-calculate the required subsidy.

The amount of financial assistance from the state is calculated based on the average cost of housing and depends on how many children there are in the family:

• childless – 30%;
• with one or more children (natural or adopted) – 35%.

People living in climatically unfavorable areas (for example, the Far North) can count on a subsidy of up to 80%.

Under the “Young Family” program in 2021, a mortgage for a young family can only be issued after funds have been received.

To participate in a project to support young families, you need to know:

• what categories of citizens can count on improving their living conditions in this way in your region;
• requirements for participants;
• list of documents.

Then you should collect the required documentation and submit it to the regional administration or to a nearby MFC. You can submit an application through the State Services portal. Then they wait about 10 days for a response and, if the decision is positive, they agree on the procedure for paying the funds. But first you will have to wait your turn.

After waiting in line, applicants need to contact the bank to open an account and transfer data to the local government. After that, approval takes place and after 5 days the money is transferred for the mortgage.

How to become a participant in the state program

To qualify for participation in the mortgage program for a young family, spouses need to:

1. Contact a credit institution and fill out an application. Please fill out your personal and contact information in the form. Check the information carefully, as if an error is identified, the loan will be denied.
2. Wait for the organization's decision.
3. If the decision is positive, collect the necessary documents and present them to the FSO officer.
4. Wait for the check to finish. Bank employees analyze and verify the received data. Some applicants may receive a call to verify certain information.
5. Execute the agreement after passing the verification.

The administration will also need to clarify the standards and requirements for housing. When the lender receives information that money is being allocated for your family, you will need to obtain a certificate for the subsidy. The application must be written within 15 days. You need to come to the bank with this certificate to further apply for a mortgage.

Conditions for participation in the “Young Family” program

Conditions for obtaining an apartment with a mortgage under the “Young Family” program in 2021:

• the age of each spouse is no more than 35 years;
• state in an officially registered marriage;
• the family’s need for better living conditions, which must be confirmed by relevant papers from the municipality.

The average family income should be such that it is possible to make a down payment on a mortgage loan and then steadily repay the debt remaining after subsidizing. So a young family must have some initial capital. Also, under the “Young Family” program, you can pay the down payment on the mortgage; in this case, all you need is the possibility of stable reimbursement of mortgage payments.

For your information

Families with or without children can take part in this state program. The only difference will be the amount of the subsidy - in the first case it increases by 5%.

Preferential mortgages to support young families in 2021

Since newlyweds are low-income during the first years of their marriage, and many of them already have children, preferential programs have been developed to help young families and families with children in the first year of marriage.

To use this program, you must meet the following conditions:

• Both spouses must have a Russian citizen passport;
• The same registration in the region in which the mortgage loan will be taken out;
• The area at the place of registration should not exceed 12 meters per person;
• If there is a child born in the first year of marriage, the area per person should not exceed 9 meters per person.
• The length of service of one of the spouses at the current place of work must not be less than 1 year.

The bottom line is that if there is no child in the first year of marriage, then if all conditions are met, then after collecting the necessary documents, a preferential mortgage with a reduced interest rate is provided. The table below shows the preferential programs of the most popular and sought-after banks.

As can be seen from the table, preferential mortgages have a 5 percent higher down payment. Despite this, such programs are popular and are in great demand among newlyweds. In addition, if you have a child in the first year of marriage, and all conditions for participation in the program are met, in addition to a preferential mortgage, you can qualify for 370 thousand rubles, which can be paid towards the down payment.

Important! The preferential mortgage rate for newlyweds is valid for 5 years. At this time, the bank itself compensates for the missing interest. After the grace period expires, the interest rate increases to 9 percent or higher.

Real estate objects under the state program “Young Family”

Which housing will be considered suitable under this youth program for obtaining an apartment mortgage in 2021:

• purchased in the region where the subsidy is issued;
• meet the criteria prescribed in the Housing Code (articles and), that is, wear should not exceed 25% at the time of the last inspection;
• must have a total area that meets the standards for a young family established in a given region.

IMPORTANT
If subsidized funds under the “Young Family” program are used to repay an existing mortgage, housing must be checked based on economic indicators. For example, it will not be possible to purchase an apartment over 100 square meters. m. or a house with an area of ​​more than 150 sq. m. m.

Mortgage conditions for young families

If we talk specifically about this type of mortgage, then there are quite different conditions and programs that are structured completely differently, so they need to be considered separately.

Let's start with who can get such a mortgage? In Russia there is a state program for the targeted allocation of funds for the purchase of housing. This means that a certain category of citizens can receive a so-called subsidy. Young families fall into this category. At the moment, the government of the country has established a single concept of “young family”, which meets several criteria:

But there are general provisions for the concept of “young family”.

• the couple entered into an official marriage; • each spouse has not yet reached 36 years of age. It is worth noting that age is not summed up and is not subject to any mathematical calculations - if the wife is 25 and her husband is 38, then you can no longer take part in this program; • one parent under 36 years of age and raising one or more children; • solvency and good credit history.

It is worth noting that when applying to a bank for a mortgage, it is not necessary to have common children. However, families with a child have the opportunity to claim a larger subsidy - 35% of the cost of housing, instead of 30%.

Banks providing mortgages under the “Young Family” state program

It is not possible to take out a mortgage for an apartment for a young family in 2021 in all banks, only in those that support this state support program. However, there is plenty to choose from:

• Sberbank;
• VTB 24;
• Gazprombank;
• Rosselkhozbank.

Such preferential lending is available in all major financial institutions that stand out for their reliability and positive reputation.

Registration procedure.

Since the choice of credit institutions is considerable, it is necessary to make a thorough selection first:

• find offers on the market that support the youth lending program;
• study them and compare them with each other, then select those with the most optimal conditions for yourself.

When analyzing, you should focus on interest rates, the size of the down payment and the presence of various commissions. If subsidies are not enough, a young family will have to invest their own savings or look for a cheaper housing option.

As soon as the search is completed and the person has decided on the bank, he must apply for a mortgage loan for an apartment under the “Young Family” program. It is worth noting that participation in the social program does not mean automatic consent from the bank. Often a refusal can be obtained due to:

• low family income;
• the spouse is on parental leave;
• the likelihood that your spouse will soon be called up for military service;
• lack of stable income.

Attention
If it comes to low solvency, then it is worth involving co-borrowers. They could be one of the relatives. Then, when calculating the mortgage, their income will also be taken into account. Only in this case will the co-borrowers have the same rights to the purchased apartment as the main borrower.

So, when the bank makes a positive decision, a mortgage agreement is signed and funds are issued for the purchase of real estate. The next step is to draw up and sign the purchase agreement and transfer the money to the seller. After which an encumbrance is placed on the object.

It is important to remember that the housing will become the property of the borrower only after he has fully repaid the loan. Until that moment, it will be pledged to the lender and cannot be sold or gifted to anyone without first agreeing on such a transaction with the bank.

Before signing a mortgage agreement, it is recommended that you read all clauses carefully. If questions arise, consult with the manager. Because once signed, nothing can be changed. When studying a loan agreement, special attention is paid to the annual interest rate, the measures taken in case of non-fulfillment of debt obligations and the payment schedule. It is according to these criteria that young families are provided with a preferential loan for an apartment mortgage.

For individual specialists

Military mortgage

Thanks to a special program, a serviceman can buy an apartment without investing his own money. The down payment will be provided by the state, which will also make monthly payments on the loan. At the same time, a person must serve a certain period of time, otherwise he will have to return the money spent on him by the state. There are two possible scenarios when he will not owe anything:

• serve at least 20 years;
• serve at least 10 years and resign for good reason.

The maximum loan amount is 2 million 590 thousand rubles. If the loan was larger, you will have to pay off the balance yourself.

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