In solving the housing problem, bank clients are increasingly using maternity capital, which significantly helps when applying for mortgage lending. Mortgages with maternity capital from Rosselkhozbank are in great demand among Russians who have decided to buy an apartment or a private house using social payments as repayment of the debt for the purchased property.
In the article we will consider in detail the conditions and features of this offer, the pros and cons, the necessary documents and the procedure for obtaining a mortgage loan.
Lending terms
Among the main conditions of this lending program is that the owner of the home must only be a person who has reached the age of majority, and at the same time, one of the shares cannot be registered in the name of a born child.
The remaining conditions are identical to other lending programs, with the exception of the down payment or repayment of part of the loan using maternity capital. The remaining conditions of a mortgage for maternity capital at Rosselkhozbank are as follows:
- The mortgage currency is the Russian ruble.
- The loan amount starts from 100 thousand rubles. up to 20 million rubles.
- The annual interest rate starts from 17% and depends on the loan term and payment.
- The maximum loan term is no more than 25 years.
- If checkmate capital covers the minimum contribution, then its amount is 0%, for the secondary market the contribution is 10% of the value of the property, for properties in new buildings a 20% contribution applies, for luxury housing the amount will be 30%.
- Insurance of purchased housing, which becomes collateral. In addition, the borrower may need health and performance insurance.
- A co-borrower can be a spouse.
- The application is processed in about 5 days, the approved mortgage will be valid for 90 days from the date of a positive decision.
You will need to repay the debt monthly, adhering to the payment schedule established by the bank. There are annuity (equal amounts) and differentiated (monthly reduction in contributions) systems.
Rosselkhozbank: maternity capital + mortgage
May 3, 2015
Contents
:
- Applying for a mortgage at Rosselkhozbank by a young family: features
- Rosselkhozbank: mortgage for maternal capital. Terms of service
- Requirements and necessary documents for obtaining a maternal mortgage
- How to get a mortgage loan for maternity capital from Rosselkhozbank
- Tips for applying for a maternity loan
In our country, investing maternity capital in residential real estate has become quite common. Most mortgage lending programs allow the use of social funds to pay for the cost of purchased housing. The article will discuss proposals with the participation of family capital from Rosselkhozbank.
Registration of a mortgage in
Rosselkhozbank with a young family: features
Maternity capital takes the form of non-cash funds provided by the state to the family upon the birth of the second and subsequent children. In the current year 2020, maternity capital is 453,026 rubles. The money is kept in the personal account of the child’s mother in the Pension Fund of the Russian Federation. You can use them in the following cases:
- increase the mother’s pension savings by placing family capital, for example, in a non-state pension fund;
- improve living conditions for families;
- pay for children's education.
Maternity capital in housing lending programs has the following forms:
- when purchasing a home – payment of the down payment (part);
- payment of an existing mortgage (or part thereof).
All mortgage programs of Rosselkhozbank allow the participation of maternity capital. When applying for a real estate loan, you can purchase:
- apartment;
- house and plot of land;
- housing with participation in construction;
- a plot of land for residential development;
- unfinished house with land.
You can also invest in the construction of a new house or finish the construction of an already started project.
Loan obligations at Rosselkhozbank are secured by:
- acquired or built real estate;
- purchased plot of land;
- property rights and other forms of collateral.
Rosselkhozbank issues housing loans both by opening a credit line and as a lump sum. When purchasing a home with a mortgage with the participation of state support funds, you must contact the Pension Fund of the Russian Federation within 3 months after the transaction. This is necessary to transfer family capital funds to pay off the loan.
Rosselkhozbank: mortgage for maternal capital. Terms of service
At the request of Rosselkhozbank, the owner of the purchased property must be an adult citizen. This means that it is impossible to register a share in the acquired property in the name of a child.
At Rosselkhozbank, mortgages with the participation of maternity capital are issued on conditions similar to other categories of borrowers. The difference is that social support funds can be used to pay for the initial payment or part of the loan.
A significant advantage for borrowers is that they belong to the category of a young family. This group may include families in which at least one parent is under 35 years of age. For such married couples, additional conditions are provided:
- reducing the down payment amount to 10% for secondary market housing or when investing in building a house;
- deferment of loan interest payments for a period of up to 3 years when building a house or having a child.
A mortgage loan with the participation of materiel capital at Rosselkhozbank is offered on the following terms:
- The loan currency is Russian rubles.
- The loan amount is 100,000 to 20,000,000 rubles.
- The annual loan rate is from 17%. The rate depends on many factors: the amount of the down payment, the loan term, etc. You can make an approximate calculation of the cost of a mortgage loan using the calculator on the bank’s official website.
- The loan is issued for a period of up to 25 years.
- The initial payment is:
- 0% – if family capital funds cover or exceed the minimum allowable initial contribution;
- from 10% of the property value;
- from 20% of the cost of an apartment in a new building;
- from 30% of the cost of luxury housing (apartments).
6. Risk insurance. When applying for a real estate loan, insurance of the home pledged as collateral to the lending institution is integral. The exception is plots of land and unfinished objects.
The insurance contract is concluded at the time of obtaining a mortgage loan, but insurance payments are made annually until the loan is paid in full. It is possible to pay for insurance using credit funds.
Additionally, at his own request, the borrower can insure his life and health.
7. Availability of co-borrowers. It is possible to attract no more than 3 persons. If a mortgage loan is issued in the common property of the spouses, then the second spouse automatically becomes a co-borrower (in accordance with Article 34 of the Family Code of the Russian Federation).
8. If a complete set of documents is provided, the loan application is considered within 5 days. An approved application is valid for up to 90 days.
9. Loan repayment occurs every month according to schedule. At the request of the borrower, you can choose a payment system:
- annuity – equal throughout the entire loan term;
- differentiated – monthly decreasing contributions.
Requirements and necessary documents for obtaining a maternal mortgage
To obtain a mortgage from Rosselkhozbank with the participation of social funds, the following requirements are imposed on the borrower:
- Age – from 21 to 65 years. An important feature is the fact that at the time of termination of loan obligations the borrower must be no more than 65 years old.
- Citizenship of the Russian Federation.
- Work experience should be:
- from 4 months in the current workplace;
- more than 12 months of total work experience over the last 5 years.
4. Registration in the Russian Federation at the place of residence or actual residence.
5. One of the borrowers must have the rights to manage maternity capital funds.
Separate requirements apply to purchased real estate:
- The building must be made of stone and on a stone foundation. For wooden objects, there is a high probability of refusal to approve the application;
- by the time the loan is repaid, the house should not be in disrepair, dilapidated or have more than 70% wear and tear;
- No strangers should be registered in the apartment;
- the purchased property must not be encumbered with collateral or be leased;
- the property must be located in the same city as the bank branch issuing the loan, etc.
List of documents for obtaining a mortgage loan from Rosselkhozbank with the participation of maternity capital:
- Application form. Contains general information about the participants in the process of obtaining a loan (borrowers, co-borrowers and guarantors). Sometimes the result of considering a loan application depends on the completeness and accuracy of filling out this form.
- Identity document. It is also provided by all participants in the process.
- For men under the age of 27, it is necessary to provide a military ID or registration certificate.
- Documents about marital status and presence of children.
- Documents to determine financial status and work activity. Necessary for each participant in the process of obtaining a loan.
- A complete package of documents for the purchased property.
- State certificate for the right to receive financial capital.
- A document from the territorial division of the Pension Fund of the Russian Federation on the balance of funds in the maternity capital account.
Sample forms can be downloaded from the official website of Rosselkhozbank.
How to get a mortgage loan for maternity capital from Rosselkhozbank
To obtain a mortgage from Rosselkhozbank you must:
- Apply for a loan. You can do this in the following ways:
- personally visit one of the bank’s offices;
- on the official website of the bank online.
When considering an application, not only the procedure of approval or refusal occurs. Additionally, all loan parameters are set (maximum loan amount, rate, etc.)
2. Provide the bank with all documents regarding the purchased property.
3. Draw up and sign the loan agreement and other documents.
4. Pay the down payment.
5. Draw up a real estate purchase and sale agreement and receive a document on registration of ownership of the property.
6. Take out property insurance.
7. Submit documents for the purchased property to the bank. After this, the money will be transferred to the seller.
Tips for applying for a maternity loan
- It is not the most convenient option to use maternity capital funds for a down payment on a mortgage. This is due to the rather long period of time for transferring money (about 3 months). There is a chance that the seller will not agree to wait that long.
- Balance the size of the monthly payment with your family income. Try to adhere to generally accepted practice: the monthly mortgage payment is 30% of family income, 50% is already a critical threshold.
- Carefully review the loan agreement for additional payments, commissions and penalties. In total, these amounts can add up to several percent per year to the mortgage interest rate.
Detailed information about the bank: Rosselkhozbank.
List of documents
To obtain a housing loan from Rosselkhozbank, you must provide the following documents:
- An application filled out in a special form, which contains information about all participants in the transaction;
- Passport or other identification document of the borrower;
- Military ID or registration certificate for men under 27 years of age;
- Marriage certificate and documents for children;
- Certificate of income, employment;
- Documentation for the purchased property;
- Certificate with maternity capital.
By providing the documents listed above, you increase your chance of obtaining a mortgage on favorable terms.
We arrange: a mortgage with maternal capital at the Russian Agricultural Bank, the procedure
So, a young family with children decided to improve their living conditions and purchase housing with a mortgage from Rosselkhozbank with maternity capital. The order of registration is as follows:
- conduct a review of the residential real estate market in order to first look at housing options and the estimated cost. Important: a mortgage with maternal capital can be issued both for primary market housing, ready or under construction, and for secondary properties;
- Rosselkhozbank's mortgage calculator with maternity capital will help you check the compliance of the family budget and the requested loan;
- apply for a loan online or contact the bank for a preliminary interview. If the parties have reached an agreement, they prepare a package of documents, after which they receive final approval of the mortgage from the bank;
- choose a residential property option. If the choice falls on housing under construction or an apartment from a developer, interesting offers can be obtained from the bank’s partner companies;
- draw up a loan agreement. If the amount of capital is sufficient to make a down payment, lending is made for the entire cost of the purchased property;
- conclude a purchase and sale transaction with the seller, carry out a full settlement of the DCP;
- carry out actions to register property rights and bank collateral.
Recommended article: Gazprombank mortgage for secondary housing
The next stage is issuing a Certificate for maternal capital. Submit an application and a package of documents to the Pension Fund. After crediting the amount of family capital to the account, the manager submits an application for crediting it to pay part of the mortgage as an early repayment. Then they contact the bank to revise the payment schedule.
Requirements
It will be possible to obtain a mortgage from Rosselkhozbank using maternity capital only if the applicant meets the following conditions:
- 21 – 65 years old and at the time of debt closure the borrower should not be more than 65 years old.
- Citizenship and registration in the Russian Federation.
- The work experience in the current place is more than 4 months, and the total work experience must exceed 5 years.
- The ability to manage maternity capital for one of the applicants.
There are also a number of requirements for the property you buy:
- The building must be solid and its foundation made of concrete or similar material.
- By the time the mortgage is paid off, the building should not be classified as unsafe or dilapidated.
- No unauthorized persons should be registered in the housing.
How to get a mortgage loan
After choosing a residential property that suits you, you should then submit an application for a mortgage to the bank along with the documents described earlier. If the employees of the financial institution approve the premises you have chosen, a mortgage agreement will be concluded. Having completed the official registration, you will need to contact the Russian Pension Fund to receive a subsidy.
You should contact the pension fund only after you have a certified mortgage agreement. Also keep in mind that maternity capital will be transferred to the bank account of the Russian Agricultural Bank, and not issued in cash in person. The period for crediting money is up to 90 days. This amount can be used to repay accrued interest or part of the debt.
When applying for a mortgage, consider the ratio of the required monthly payment and your income.
Receipt procedure
The issuance of a loan and purchase of an apartment occurs in the following sequence:
- Filling out the form, preparing documents.
- Transfer of documentation to the bank.
- Waiting for a decision. The period for consideration of a mortgage application at Rosselkhozbank is 5 days.
- Obtaining approval of the loan amount.
- Preparation of documents regarding the collateral.
- Approval of collateral.
- Signing a mortgage agreement, concluding financial protection policies.
- Transfer of money to the seller if part of the down payment is paid from the borrower's personal funds.
- Submitting an application to the Pension Fund for the use of maternity capital for a mortgage.
- Signing the DCP.
- State registration confirming the emergence of property rights.
- Final settlement with the seller.
- Registration of encumbrance on a property in favor of Rosselkhozbank.
- Drawing up and submitting a mortgage for registration.
- Three months later, part of the debt is repaid with funds transferred from the Pension Fund.
Thus, a family certificate allows you to get a loan with a zero down payment with the obligation to repay part of the debt within three months. This procedure is related to the nuances of the work of the Pension Fund, which is responsible for transferring money. The processing time for citizens' requests regarding the use of certificate funds is 90 days. For this reason, it is beneficial for all parties to first carry out the transaction and final settlements, then wait for the transfer of money from the Pension Fund.
Online calculator for calculating a mortgage
Before using a mortgage loan, it is recommended to make preliminary calculations using the online calculator located on the Rosselkhozbank website. The following parameters should be entered in the form:
- Amount of down payment;
- Duration of loan receipt;
- Amount of monthly income.
Based on the entered data, the system will produce a result that will help you decide whether to take out a mortgage or not.
Advantages and disadvantages
A loan for maternity capital from Rosselkhozbank has advantages and disadvantages.
The advantages include:
- The opportunity to live in your own home, paying a monthly amount comparable to rent.
- You don’t need to spend many years collecting a large sum of money to buy a home.
- Thanks to maternity capital, you can significantly reduce monthly payments.
Among the disadvantages is the fact that the purchased home will not be your full property until the loan is repaid in full. It will not be possible to sell or exchange real estate until financial obligations to the bank are fully fulfilled.
Rates
The amount of interest depends on the chosen mortgage program:
- Purchasing a home from a developer-partner of the bank will cost from 7% per annum. However, the range of interest rates is quite wide and depends on the specific developer. Thus, when buying apartments in the Prime Time residential complex, the loan is issued at 7.9%, in the Lukino-Varino, Tomilino residential complexes - from 7.0%, in Region-Invest LLC - from 9.1% per annum.
- A loan agreement for the purchase of an apartment is drawn up at a rate of 10.25%.
- It is possible to purchase a residential building together with a plot of land or a townhouse on credit at 15.5% per annum.
The loan payment increases by 1 percentage point. if the borrower/co-borrower refused to enter into a personal insurance agreement. A mortgage for maternal capital in Rosselkhozbank is issued at a rate that is established on a general basis.
