450 thousand for mortgages for large families: conditions for receiving

For many families with children, it is important to receive assistance from the state aimed at reducing the burden of paying for various services. Preferences in many areas are provided for by federal and regional legislation. Mortgage debt occupies a special place. If the family has not one, but several children, or the parents who took out the mortgage gave birth to a child after the loan was taken out, then the costs will be an unbearable burden. The main partners of the state in providing preferential mortgage lending are Sberbank and VTB-24. Based on the practice of recent financial institutions, the article will talk about what privileges are available as part of writing off a mortgage at the birth of a child .

Who is entitled to 450,000 to pay off the mortgage?

This is a support measure specifically for large families with three or more children. Families that have a third or subsequent child between January 1, 2021 and December 31, 2022 are eligible to receive money from the state.

This could be either birth or adoption. But if we are talking about adoption, then it is not the date of the child’s entry into the family that is taken into account, but the date of his birth.

Support in the form of 450 thousand for a mortgage is relevant only for citizens of the Russian Federation, existing mortgage borrowers. If you are just planning to take out a home loan, this money cannot be used when receiving it. But after registration - no problem if you meet the conditions of support.

Subsidization is relevant for both families and single parents. The applicant is the parent of three or more children.

Advantages and disadvantages of the state program

Some families have already taken advantage of government assistance and appreciated the benefits of the subsidy, namely:

• the opportunity to accelerate the improvement of living conditions;
• reducing the burden on the family budget;
• prohibition on cashing out funds and using them for other purposes;
• simplicity of design.

Naturally, like any banking product, financial support in the amount of 450 thousand rubles to pay off a mortgage has its drawbacks, including strict requirements for real estate, one-time use, and the inability to use funds for other family expenses.

The subsidy opens up wide opportunities for large families. Find out more about mortgage programs with government support on the official website of Rosbank Dom.

Where to go for money

The mortgage loan agreement must be concluded before July 1, 2023. The “from” date is open. The loan can be issued in any year, even 15 years ago. The main thing is that the condition for the appearance of a child in the family from the beginning of 2021 to the end of 2022 is met.

Basic conditions for issuing 450 thousand for a mortgage to large families:

1. In the period 2019-2022, a third or subsequent child appeared in the family. He may be born or adopted. If this is an adoption, the child’s date of birth is within 2019-2022.
2. The family has a valid mortgage loan issued by any Russian bank. All loan agreements concluded before July 1, 2023 are eligible.
3. A mortgage is issued for an apartment, a finished house or a plot of land. This can be a secondary or primary market.
4. The applicant and his children must have Russian citizenship. If a child does not have Russian citizenship, he is not taken into account. Children for whom the applicant has been deprived of parental rights are also not taken into account. Deceased children are taken into account.

If the mortgage was issued for the construction of their own house, then the agreement does not fit the terms of the program, the family will not receive 450 thousand.

If you and your mortgage meet the specified conditions, you can apply for money. To do this, visit the branch of the bank servicing the loan agreement. There you will write a statement, which is transferred to the operator DOM.RF, which regulates the payment and transmits the information to the Ministry of Finance.

Mortgage write-off for families with one child.

This preference is provided in accordance with the federal program “Housing” and the rules approved by the RF Government on December 17, 2010 No. 1050.

According to the document, parents have the right to expect part of the mortgage to be written off at the birth of first child .

It is worth noting that detailed procedures are approved by regional authorities. You can find out detailed information in the housing policy department at the applicants’ place of residence.

Parents of a child are entitled to a 3-5% discount on the cost of purchased housing. These expenses are borne by the budget.

In this case, the benefit applies regardless of whether the child is the applicant’s own or adopted.

A package of documents and the process of obtaining 450 thousand for a mortgage

The government has freed large families from bureaucratic delays. The process of receiving money is simple, the package of documents is modest. The applicant's passport, birth/adoption certificates of children and a document confirming the existence of a mortgage (loan agreement) and an apartment/house purchase agreement are required.

If the family has children over 14 years old, their passport is needed. These children must be present when the application is drawn up and sign it. A child reaching 18 years of age does not become a reason to exclude a family from the list of those entitled to 450,000.

How to get 450 thousand for a mortgage for large families:

1. You collect a package of documents and contact the office of the servicing bank, write an application on the spot to receive 450,000 and send them for full or partial early repayment of the mortgage loan.
2. The bank sends documents to the operator DOM.RF - he receives applications from all banks. The operator checks the documents. If the family can legally qualify for a subsidy, it initiates financing.
3. All required checks are carried out within 14 days. If the issuance of 450 thousand to repay the mortgage is approved, the money will be credited to the credit account within 5 business days.

450 thousand issued for the mortgage are used for its early repayment. If the remaining debt is greater than this amount, partial repayment is performed. If less - full. In the latter case, the missing amount is not compensated.

For example, for early repayment of a mortgage in full, 380,000 rubles are needed. In this case, the government will transfer these 380, not 450 thousand. The remaining 70 are not compensated in any way and are not transferred anywhere.

Legal basis

The central legal act at the federal level on allocated funds is PP No. 1711 of December 2021. When some of its provisions are changed and innovations are included, separate legislative acts are created and signed. The federal government and the President of the Russian Federation take part in their initiation.

Requirements for a participant by law

Orders regarding the identity of the applicant are considered in two main directions: his reliability and welfare. The second position is confirmed by documents brought to the manager from the official place of work. The reliability of a clientele is assessed mainly by its credit history. It includes all aspects of taking out loans and the specifics of closing them.

Financial nuances

The main conditions for providing a subsidy are the status of a parent with many children and the presence of a valid mortgage agreement. In this case, the child may appear outside the scope of the loan. For example, he appeared in the family in March 2021, and the mortgage was issued in November 2022. As a result, the family will also receive 450 thousand to pay off the mortgage.

There are two options:

1. If the mortgage amount is large, 450,000 goes towards partial early repayment. In this case, the bank will reissue the schedule. This may be maintaining the payment amount while reducing the term or maintaining the term while reducing the payment.
2. If the remaining mortgage debt is within 450,000, the loan is closed completely. After the official closing, the borrower can remove the encumbrance.

The right to receive 450 thousand for a mortgage is given to large families only once. Even if several children appear in a family during the period 2019-2020, the right is not repeated.

An important point concerns tax deductions. This 450,000 reduces the amount for calculating the deduction. And if the family has already issued a personal income tax refund on this amount, the state will demand that the money be returned.

An example of how your mortgage will improve thanks to this 450,000:

• for example, a family took out a mortgage in 2015 for 4.5 million rubles for a period of 15 years at 10% per annum;
• the monthly payment in this situation is 48,357 rubles, overpayment is 4.2 million;
• in May 2021, a large family applies to receive 450,000;
• provided that the current remaining repayment period is maintained, the monthly payment will be reduced to 42,059, the overpayment will be reduced to 3.96 million;
• If you choose to maintain the payment amount, the payment period will be reduced by 20 months, the overpayment will be 3.67 million.

The 450,000 allocated by the state for a mortgage can be combined with other family subsidies. For example, refinance a mortgage under a family program at 6%, use maternity capital. All measures can be summed up without any problems.

Conditions for reviewing the repayment process

If the mortgage agreement is signed, then no one involved has the right to change it unilaterally. Sberbank, in principle, does not initiate adjustments to existing mortgages. Rather, it is characteristic of the debtors themselves to reduce individual debt obligations. Or their cancellation. Along with this, applicants have a guarantee of claims for mortgage deferment.

Individual adjustment of mortgage parameters by Sberbank is still acceptable, but if the borrower fails to comply with the conditions. For example, if he refuses voluntary insurance after signing all contracts. The fact is that such insurance gives a discount on the interest rate, and according to the rules of the insurance companies, the service contingent has a period within which they have the right to refuse everything.

Important points

1. 450 thousand are issued to large families only for an existing mortgage. You cannot use this money for a down payment for a new loan.
2. If the family currently has two children, she may decide to give birth/adopt another child before the end of 2022 and become entitled to 450,000. If the mortgage has not yet been issued, the agreement can be concluded before July 1, 2023 and immediately apply for a subsidy .
3. The subsidy is only available to a specific parent with three children. If there are 3 children in the family - mothers, but only two of them are from the current husband, only she can apply for a subsidy. She must be the main borrower on the mortgage or a co-borrower.

450 for a mortgage for the third child and subsequent ones is an excellent measure of support for large families. If you combine this money with other assistance programs, you can get significant benefits.

What to do if your deferment is denied

Sberbank is not obliged to immediately provide a deferment at the borrower’s request. Refusal is often due to the following reasons:

• the loan does not fit into the requirements for limiting the amount and processing time (for example, issued 2 months ago or the remaining amount is less than 500 thousand rubles);
• there are delays in payments;
• the borrower resigned of his own free will;
• family income has not changed or it is not possible to provide evidence of a decrease;
• the borrower owns expensive property or has a considerable amount in his accounts (with Sberbank or other financial institutions).

In case of refusal, the following options may become an alternative:

1. Take out a consumer loan with less stringent conditions than a mortgage. Spend the received amount on current payments and try to solve your problem during this time.
2. Borrow money from relatives or friends.
3. Sell ​​something valuable from your property (car, jewelry, cottage, etc.).

Thus, the deterioration of the financial situation in the family due to the birth of a baby is not yet a dead end. This does not mean that you will need to give the bank an apartment (house) purchased with a mortgage. You can always find a way out of the situation by contacting the credit manager directly. Usually the bank makes concessions, and the borrower receives a temporary deferment.

FAQ

Are there any age requirements for parents?

No, there are no age criteria in the law. There is only a requirement for a minimum number of children and that one of them must be born in the period 2019-2022.

I have already received 450,000 and closed the mortgage. Can they get this money again next time?

No. A specific citizen’s right to receive 450 thousand for a mortgage for a large family arises only once.

How quickly will I receive money?

After writing the application, the bank sends the documents to DOM.RF within a week. There a decision is made within 7 days. If it is positive, the money will be credited to your credit account within 5 business days.

How to get unused balance up to 450,000?

No, such a possibility is not provided.

If one child is over 18 years old, am I entitled to a subsidy?

According to the terms of issuing 450,000 to pay off the mortgage to large families, the children can be of any age. The main thing is that one of them was born in the period 2019-2022. So, if the child has reached the age of majority, the family does not lose the right to money.

Sources:

1. Decree of the Government of the Russian Federation of September 7, 2021 N 1170 “On approval of the Rules for the provision of subsidies to the joint stock company “DOM.RF”

about the author

Irina Rusanova - higher education at the International East European University in the direction of "Banking". Graduated with honors from the Russian Economic Institute named after G.V. Plekhanov with a major in Finance and Credit. Ten years of experience in leading Russian banks: Alfa-Bank, Renaissance Credit, Home Credit Bank, Delta Credit, ATB, Svyaznoy (closed). He is an analyst and expert of the Brobank service on banking and financial stability. [email protected]

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How to get government help to pay off part of the mortgage upon the birth of a child

Sberbank’s functionality regarding social support measures is implemented in accordance with the regulations established by law, as well as internal orders of the corporation. The regulation establishes both the necessary documentary lists and the algorithm of actions of the creditor and the servicing parent with the child.

At the same time, the Federation gives banks the authority to identify suitable candidates for certain types of preferential services. If maternity capital implies preliminary proof of the right to support the Pension Fund, then in other Sberbank programs the selection of applicants falls on the shoulders of its employees.

Comments: 18

Your comment (question) If you have questions about this article, you can tell us. Our team consists of only experienced experts and specialists with specialized education. We will try to help you in this topic:

Author of the article Irina Rusanova

Consultant, author Popovich Anna

Financial author Olga Pikhotskaya

1. Natalia
   10/09/2021 at 05:54 pm Hello. I have a question. A friend is paying a mortgage. The mortgage is in my mother's name. Got married this year. My wife has 2 children and is about to expect a third. Can a wife somehow become a co-borrower with her husband’s mother in order to receive a subsidy to pay the mortgage? Thank you in advance.
   Reply ↓ Anna Popovich
   09.10.2021 at 18:26

   Dear Natalya, Russian legislation does not provide for the right to introduce a new co-borrower when a deal with the bank has already been concluded.

   Reply ↓