Modern housing is very expensive. Most people in our country cannot afford it. In Soviet times, the state built it at its own expense and simply distributed it to its citizens. In the nineties, with the collapse of the country, the previous housing system collapsed.
But the problem remains. Some Russians have recently become significantly richer and have begun to build luxury apartments. However, the remaining residents became even more impoverished compared to the Soviet era and were unable to solve their housing problems even on a minimal scale.
New government measures were needed to reduce tensions in the housing sector. In modern conditions, a solution has been found in social mortgages. So what are the terms of a social mortgage these days?
Social mortgage
Social mortgage is state support for certain preferential social categories of Russian residents. The conditions for receiving a social mortgage are that beneficiaries receive a loan of money to purchase their own home. A mortgage is a unique form of collateral for residential real estate (future or existing for the borrower) for the purchase of a loan. The issues of purchasing social mortgages and establishing a loan program are specified by regional authorities.
Social assistance is issued in the form of:
- Covering the costs of part of the cost of an apartment purchased with a mortgage.
- Purchasing housing from the state at a low interest rate.
- Compensation for part of the interest on the mortgage loan.
Target
The goal of modern social mortgage lending programs operating in our country is the Russian state’s monetary support for its citizens in matters of improving their housing conditions. The purchased loan can be used in the following areas:
- for the purchase of ready-made, previously constructed housing;
- for the construction of a residential building;
- for the purchase of a plot of land where a residential building stands or its construction is planned;
- to pay off an existing mortgage loan.
In modern Russia, there are a number of mortgage programs supported both from the federal Russian budget and partially from regional provincial budgets. Along with the usual (standard) mortgage, there is also a social structure for mortgage lending to certain segments of the population. According to such a social mortgage, the conditions for receiving it will be relaxed as much as possible. Especially for the advantaged segments of the population.
Peculiarities
The existing social mortgage for improving housing conditions allows socially weak categories of Russian citizens to improve their current housing conditions. That is, the state organizes such preferential social programs to make the purchase of housing affordable for Russians with low incomes, for example, for large poor families, for state employees who do not have housing, for young officers, for young families, and so on.
A specially formed organization - AHML - manages and coordinates the activities of all existing mortgage programs in Russia - the Agency develops the state-defined policy of increasing the availability of affordable housing for Russians, and implements the function of the state body for the formation of the social mortgage lending market. The agency must strengthen the balance of interests of all parties in the field of real estate - the Russian state, ordinary borrowers, private and public lenders and investors.
Signs
Specific conditions of social mortgage:
- issuing preferential interest rates to borrowers on loans issued by the bank;
- issuance of targeted one-time subsidies or social payments for housing from the central federal or local regional budget;
- a more preferential price for the purchased housing (usually this is a standard economy class property);
- reduced amount of the initial housing payment when purchasing an apartment or house;
- assistance in paying interest rates by issuing compensation;
- the likelihood of a reduction in the monthly loan (“payment holidays”).
The main emphasis of social housing mortgages is on eliminating the existing housing hardships of that layer of working Russians who receive relatively average and low financial income and at the same time really need their own home (or apartment).
Cost structure
Under the terms of the social mortgage, the following financial cost structure is assumed:
- The buyer's share of expenses will be approximately thirty percent of the cost of the home.
- The share of state assistance (the amount depends on the social category of Russians) is approximately twenty to fifty percent of the total cost.
- The rest of the housing payment goes to the mortgage loan.
The described structure of payment for purchased housing, as a rule, increases the possibility of obtaining mortgage loans for residents of our country, and this, in turn, actively contributes to the growth of the effective demand of Russians for residential houses or apartments, thereby further financing the construction industry of the domestic economy and those dependent on it various industries.
Specifics
The main difference between the existing conditions of a social mortgage and a regular or commercial mortgage is, ultimately, the lower cost of housing allocated to citizens. In addition, it is necessary to highlight the additional guarantees that lenders receive from the loan-issuing bank operating under social housing mortgage programs:
- Control of the “cleanliness” of the purchased residential premises.
- Insurance of both the purchased home and the life of the borrower himself.
- The bank's promise to maintain the level of loan interest determined by the agreement until the completion of the loan agreement.
Participants of benefit programs
Not all Russians may receive the conditions of a social mortgage to obtain a social mortgage loan. The number of beneficiaries can include, first of all, those residents of the country who are officially identified as in need of housing and who are in line to purchase housing in local executive authorities. In addition, those in need of housing include Russians living in houses that are officially classified as unsuitable for normal living; those who have housing in multi-apartment buildings included in the emergency list and prepared for demolition or modernization. This condition serves as a common feature for all clients of social preferential mortgages.
Other conditions required to purchase a mortgage loan depend on the form of the social mortgage program:
- families with several children in which the age of the wife or husband (or one parent in a single-parent family) is not higher than 35 years;
- families with three or more minor children;
- veterans of official combat operations;
- young officers who became participants in the Russian funded mortgage housing system;
- Russians working in state (or municipal) bodies that are part of scientific organizations or the structure of scientific services;
- Russians working in state educational structures, as well as health authorities, cultural structures, local social protection, employment systems, physical culture and sports bodies;
- employees of city-forming institutions, including science cities;
- workers working in the structure of the military-industrial complex;
- citizens working in state scientific bodies, as well as various structures organized by state academies of sciences;
- employees of state unitary institutions with the rights of ordinary scientific bodies implementing their work in the leading areas of the formation of science and industry in Russia;
- a family is considered to be approved by a resolution of the local municipal government if the total income for each family member is below the subsistence level determined in each region; social housing mortgage refers to the state allocating a house or apartment to a low-income Russian family at a preferential price, as well as other additional social guarantees).
Housing benefits for doctors
In addition to general social mortgages for housing, there are also separate ones aimed at helping social workers solve housing problems. For example, these are doctors. There is a special program “Mortgage for Doctors”. Its goal is to make it easier for doctors to obtain social mortgage lending.
At the level of individual regions, the receipt of free land plots and targeted social lending for private construction have been organized.
In general, the conditions of a social mortgage for doctors lead either to a weakening of the credit burden for them, or to support in making
Down payment
A potential participant in the Russian social housing mortgage program must be checked for the ability to pay the cost of housing. Actually, the scale of the loan received from the bank will depend on the volume of existing savings (initial housing payment), on the volume of the borrower’s monthly receipt of funds. To increase the amount of a mortgage loan, the lender can additionally use the help of other solvent citizens (in particular, close relatives), who will then be added to the mortgage lending agreement as individual co-borrowers.
Under these conditions, social mortgages are actively developing in the regions.
Moscow
In Moscow in 2017, social mortgages are being actively introduced. The conditions in Moscow are particularly good. Participants in social financial lending will take out a mortgage at 9.5%. But there are a number of restrictions. Such a loan will be given only to those Muscovites who buy an apartment for themselves in new buildings in Moscow, part of the capital's housing stock, in a building erected at the expense of the city. Potential borrowers must have a passport with Moscow registration (registration), they must have a stable place of work with a constant income. In addition, they must meet certain criteria:
- be members of the state housing project “Housing for the Russian Family”;
- work at military-industrial complex enterprises;
- have a disability group or have a disabled child in the family.
Moscow region
The conditions for social mortgages in the Moscow region are based on the same specific points as for residents of Moscow. The main criteria for obtaining such a loan are noted above. But at the same time, it is necessary to keep in mind that individual banks have their own peculiarities of lending to clients, which can be found out in the financial institution itself.
Tatarstan
In this region of our country, social mortgages are also very popular. The conditions of social mortgages in Tatarstan are aimed at obtaining benefits by employees of institutions that can effectively finance social mortgages.
Receipt of housing under the social program occurs in a certain queue. Competitions are organized in the region to select apartments that can be awarded to citizens of the republic as part of the ongoing social mortgage on special conditions:
- The citizen's need for improved living conditions. At the same time, one family member must have at least 18 square meters. m.
- The longest term of a social mortgage issued is a little more than 28 years.
- The realized interest rate is approximately 7%.
- An initial housing payment is required. However, if a Russian has serious reasons, then it is possible to obtain the consent of the relevant authorities not to make this contribution.
- You can make payments not only in cash. The regional program means payment with products of one’s own production in a personal household or repayment of a loan with one’s own labor.
- Part of the housing area that has not yet been paid for can be transferred to commercial lease.
- If a childless family received a social mortgage, and after a certain period the couple had a child, then the state pays assistance in the amount of 200 thousand rubles.
Social program participants in Tatarstan
According to the terms of a social mortgage in Tatarstan, a social mortgage can be obtained by:
- Russians working in budgetary authorities;
- employees of institutions included in social mortgage financing programs;
- Russians who need urgent support.
It is necessary to accumulate a large rating. It is determined by the amount of a person’s savings. These funds must be in the housing fund account. The winner of the competition will be the citizen with the highest rating, whose application meets all the requirements.
Of course, there is a social mortgage in Kazan. Its conditions are generally similar to the provisions of the program for Tatarstan. It should be noted that the social mortgage in Kazan for 2017 will provide an opportunity for many socially weaker sections of citizens to take out a loan on preferential terms.
Welcome! Today we will find out what a social mortgage is and who can get it. How to apply for a social mortgage. How banks and social mortgages interact. Read the post to the end and you will find out all the news of 2019 on this topic.
You can acquire your own home using your own funds, if you have any, or you can resort to the help of banks and use mortgage lending. But what to do if your income does not allow you to use any of these methods? Social mortgage comes to the rescue. It is precisely this that exists in our country to solve the housing problem of citizens with average and low incomes.
What is the difference between a regular loan and a preferential loan? The first is issued by a commercial bank to the client, who repays the loan and interest on it with his own funds. It follows that the consumer can only rely on his own strength. At the same time, the annual rate for using borrowed funds and the down payment will be quite large. The social mortgage agreement will include a third party to the agreement - the state. Here his role is to support the interests of both parties: reimbursing the bank for its commercial benefits and providing citizens of the Russian Federation with affordable housing.
Social mortgage lending is a government program, implemented at the subject level. Therefore, in each region it has its own characteristics, which can be found out in the local authorities at the place of residence, or in the AHML.
What is the point of social media? The point is that the housing and social mortgage will be issued with some kind of support from the state budget. And how much depends on which category of beneficiaries you qualify for. In essence, social mortgage is a complex concept that includes a number of government support programs for the population as part of solving the housing issue. They are very often confused and mixed into one concept.
The concept of “social mortgage” should be divided into a number of derivatives:
- Social mortgage in banks and partners of AHML (mortgage that provides a number of benefits on the rate, mortgage term, size of the monthly allowance, etc. to employees of socially significant and budgetary institutions, as well as large families).
- Subprogram “Housing for the Russian Family” (allows you to get a discount on an apartment from development companies that participate in the program, those in need of improved housing, low-income people and, again, state employees of various levels, as well as young families with children. The mortgage rate remains within the framework of the bank’s standard programs ).
- The “Young Family” subprogram is federal and local (you must obtain a certificate of participation in the program in order to be recognized as needing to improve your living conditions, then the state will provide a subsidy for the purchase of housing up to 35% of the cost of the apartment).
- Regional subsidies (for example, the Republic of Tatarstan, where there is a reduced interest rate on mortgages and a discount on housing).
- State support programs for military personnel, maternity capital.
In certain cases, state assistance will amount to 10-50% of the cost of the apartment. There are regional subsidies that reimburse 100 percent of the price of housing, and the citizen only has to pay interest to the bank. For young people, such support can amount to 30%, and for young families with children - 35% of the market value of the home.
The following conditions of social mortgage exist:
- Lowest interest rate possible. Today, it is 7.55%;
- Minimum down payment 10%;
- Longer loan term;
- Subsidies from budgets of different levels to reimburse part of the cost of housing. One example is compensation of monthly social mortgage contributions for some state employees during the entire loan term;
- Deferment of payment or restructuring. In different cases from 1.5 to 3 years;
- Reducing the monthly payment by refinancing;
- Construction of economy-class real estate with state support and its sale at preferential prices to certain categories of citizens;
- One-time subsidies for improving housing conditions. One such example is maternity capital.
Who can get it
Who is eligible? Many citizens are unaware of the opportunity that exists for them to acquire housing on preferential terms. To do this, you need to know who can get a social mortgage.
You can expect to receive in 2019:
- large families;
- single-parent families whose income fell by 30%;
- disabled people and families raising disabled children;
- young families under 35 years of age with and without children;
- some categories of doctors, teachers and scientists;
- employees of scientific municipal and government institutions;
- workers of science cities;
- military participants in the accumulation system;
- combat veterans;
- young specialists;
- workers of culture, social protection and employment institutions;
- specialists from sports organizations;
- workers of the military-industrial complexes;
- the poor.
Program participants are solvent working citizens of the Russian Federation who have stable incomes and are able to obtain a loan, i.e. meet the conditions for its provision; having accumulated funds for a down payment. Their credit history must be positive. They must be a recognized need for housing improvement or emergency fund residents (for a number of subprograms). For public sector employees, it is required to have a professional work experience of three years or more in government agencies. The Housing Social Mortgage Fund covers citizens from 18 to 54 years of age with a continuous work experience in one place of at least six months. Military personnel who have served at least ten years. More detailed conditions should be considered for specific programs.
How to apply
First of all, you need to make sure that you are included in any category of beneficiaries. Depending on the type of program, contact the authorities and/or the bank first. If so, then the next step is to collect the necessary documents.
The basic list of these includes:
- application for a social mortgage;
- a copy of the applicant's passport;
- certificate from the place of work about income in form 2NDFL;
- a certified copy of all sheets of the work book;
- a document confirming the applicant’s need for housing or improved living conditions;
- a document stating that you are in line to resolve the housing issue with local authorities;
- an extract from the house register or a certificate of family composition;
- marriage certificate;
- children's birth certificates.
This list is basic and basic for all categories of beneficiaries and is supplemented depending on which social program suits you. You can find out more about what other documents are needed from other articles on our website.
You will need a special certificate in order to become a participant in the Young Family program in 2019. You must notify local authorities and the bank of your intention to receive a preferential loan to purchase an apartment and be included in the final list.
When the lists of such participants are formed, the municipal authority receives money from the budget for subsidies and distributes them. By that time, you will need to provide a loan agreement already drawn up with the bank.
Banks and social mortgages
The most advantageous offers under this program in 2019 are offered by NOAIK, a partner of AHML in Novosibirsk, for example, the rate is 10.95 for finished housing and 11.2 for the construction period.
A mortgage for military personnel involves opening a personal savings account. The state transfers certain amounts to it monthly, which are regularly indexed. The money can subsequently be used to purchase housing. Can be used both during service and after leaving the reserve. In 2019, such a product is available to all young officers, even those who already own real estate. Several banks are engaged in lending to military personnel under the NIS.
And other points were discussed in our last post. You can also use our loan calculator to calculate.
The advantage is that a decision is made within three days with a minimum package of documents. The only requirement for the borrower is a period of service of at least three years.
To find out the monthly loan payment, use our website.
The social mortgage “Building the Future” operates in the Republic of Tatarstan (Kazan, Naberezhnye Chelny, etc.). The essence of the program is that a family joins the “Building the Future” cooperative and then participates in an auction of apartments, offering their own reasonable price for them. The family that offers the highest price will win the competition and receive ownership of the apartment at a reduced price. Social mortgage Building the future is available in the city of Naberezhnye Chelny, for example, 90% of the population.
The social mortgage “Building the Future” is issued under the President of the Republic of Tajikistan on the following conditions: Rate from 7% per annum; Down payment from 10% of the loan amount; Duration from 20 to 28.5 years. To draw up an agreement, you should contact AK Bars Bank, Kara Altyn Bank, Sberbank of Russia.
In Naberezhnye Chelny, the most favorable conditions for rates are offered by VTB24 Bank (this is 9.4% per annum for using a loan and the down payment is only 10% for any convenient loan term), Rosbank, and the Mortgage Agency of the Republic of Tatarstan. To choose a credit institution and more favorable conditions for yourself, use our mortgage calculator.
Rosselkhozbank has developed a special loan product - rural mortgages in Russia. It was created to provide assistance to young professionals living in rural areas. It implies that part of the debt is repaid from the federal budget, another part is allocated by the region, part by the local agricultural producer, and the remaining small share is paid by the employee himself. This is one of the few banks that does not refuse to give loans to clients from the province due to the low value of collateral.
Credit terms:
- rate from 11.5% to 13.5% per year;
- no down payment;
- the amount is within 3 million rubles;
- period from 1 year to 25 years;
- no guarantors required;
- the borrower's age is over 18 years;
- confirmation of the amount of income using a 2NDFL certificate or a bank form.
Knowing the terms of the loan and the cost of the desired apartment, you can calculate the size of the monthly payment using our mortgage calculator.
How to get a social mortgage in 2019 — You can find out at AHML. This is the main organization entrusted by the government with the implementation of state social programs to provide the population of the Russian Federation with their own housing and improve living conditions. AHML implements programs such as “Housing for the Russian Family”, issues products such as “Military Mortgage”, “Social Mortgage for Doctors, Teachers and Scientists”, and also implements a program to assist borrowers.
Advantages of AHML:
- Annual rates here start at 10.95%.
- Down payment of 10% of the loan amount.
- The maximum possible term is up to 30 years.
- The loan amount is not limited.
- There are no additional insurances, that is, only the purchased property and the borrower’s liability under the contract are insured.
- Maternity capital funds are used.
- If the payer encounters financial difficulties, a reduction in the monthly contribution is provided.
- Opportunity to buy an apartment thirty percent cheaper than a similar segment in an accredited project.
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It differs in that not everyone can participate in it. Despite the large list of local programs, getting a state one is quite problematic. The conditions for receiving a subsidy, as well as the amount, depend directly on the standard price per square meter of real estate in a particular region. Also, the main condition here is the presence of children and a certain family composition.
Young families no children can receive a subsidy of 30%. However, families with one child or more has the right to count on a discount of 35% of the cost of the property.
Conditions for calculating the cost real estate are directly calculated according to the following standards:
- two people in a family – 42 square meters;
- a family of three or more people – 18 square meters each.
Terms depend on the specific region of the country, but two points are common here:
- the age of the spouses does not exceed 35 years;
- the family is officially recognized as in dire need.
In other words, a young family must be registered on the waiting list, as well as have additional funds for payment of the down payment on a mortgage loan that exceeds the required amount for disbursement. The decision on a particular family is made by the executive branch, after which the application is transferred to Rosstroy.
When a young family is included in this list, it is issued special certificate. The subsidy is provided in non-cash form, by transferring funds to the seller’s account. Transfers are made only to the account of the state partner bank. A young family has the right to use the issued funds for a down payment or for the construction of their own housing.
For young professionals
The program is intended for project implementation:
Mortgage lending for young specialists in specific specialties is provided on the best terms. Here cost of loan obligations will be 10.5% per annum. A flexible repayment schedule will allow all young professionals to repay the loan on time and in full. At the beginning of the loan, the specialist pays less than in subsequent years. In this case, it is possible to use maternity capital.
For teachers
The state helps teachers obtain mortgage loans, while compensating the difference when paying the down payment from the federal budget.
This is a significant help for state employees in Russia. Repayment is made in the amount of 40% of the value of the property.
Thanks to this program, the cost of real estate becomes somewhat more affordable for purchase. The teacher has the right to purchase an apartment using borrowed funds, and then pay monthly mortgage payments. The amount received from the state can be spent not only on the down payment, but also to pay off part of the loan.
For military personnel
Issued with participation in the NIS program. In this case, a certain amount is accumulated to pay the down payment on mortgage lending. Real estate of this kind is provided to specialists completely free of charge.
Employees of the Ministry of Internal Affairs must work for at least 10 years, after which they are given a one-time allowance to repay part of the cost of the apartment. 
Doctors
Only certified specialists in the field of medicine, either with higher education or with secondary specialized education, can receive such a program. In this case, the specialist should not be older than 35 years, as in the “Young Family” program. But this criterion is defined differently in a particular region.
Mandatory the specialist must work in the field of medicine for at least a year and live in cramped conditions. In the future, this person must devote at least five years to work.
For the poor
Each region has its own program. It is better to check with the municipality about its availability. The low-income program cannot buy houses, cottages or townhouses. Many regions provide mortgage lending only for the purchase of apartments in new buildings.
Low-income people must confirm their status, after which they will be put on a waiting list.
For those on the waiting list
To receive social mortgage, you need:
- have a residence permit in Moscow;
- get on the waiting list for housing before 03/01/05;
- have on hand the amount to pay the down payment on the mortgage;
- have a regular income.
At the same time priority are young families and other beneficiaries.
Registration procedure
For receiving need to:
- contact the housing policy department;
- make an appointment;
- arrive at the appointed time with the necessary documents. There, a personal file is opened with the determination of living space;
- visit the Agency for the Implementation of Housing Subsidies;
- come to the bank and fill out a form;
- collect the necessary package of documents for the bank;
- As soon as the loan is approved, the subsidy is transferred to the bank account.
Necessary package of documents for the agency:
Necessary package of documents for a credit institution:
- passport of the main borrower;
- diploma of education;
- marriage certificate;
- military ID;
- birth certificate;
- a copy of the work book and 2-NDFL;
- BTI conclusion on the price of real estate;
- consent of the guardianship authorities and other certificates at the request of the bank.
Which banks provide social mortgages in Moscow
Interest rate for social mortgages is 9.9% per annum.
At Sberbank, the interest rate on social mortgages does not fall below 11.5% per annum. The down payment for purchasing real estate under the state program here will be at least 20% of the price. Although at the Mortgage Lending Agency, despite such a low interest rate, the down payment is only 10% of the purchase price.
It is worth noting that in addition to state credit institutions, social mortgage programs commercial organizations also provide. Such programs offer reduced interest rates by increasing the payment period.
About social mortgage loans in Moscow, see the following video:
For a large number of people in the CIS countries, the issue of having their own housing is quite acute and open. It does not always happen that a person has his own apartment.
In such cases, a mortgage loan for a home can become a kind of lifesaver, allowing you to purchase your own living space if the entire amount of money required for its purchase is not available.
Over the past ten to fifteen years in the CIS countries, purchasing apartments through a mortgage has become quite common and quite commonplace.
A mortgage provides a cash loan for the purchase of an apartment secured by the apartment itself. According to the agreement, the borrower agrees to make a down payment (usually a third of the cost of housing).
The balance of the share is paid regulated in the amount of the established interest rate. To complete it, you must provide the bank with a number of necessary documents.
These include documents identifying the borrower and confirmation of his official employment. Depending on the situation, the bank may ask for additional documents and certificates.
Today there are a huge number of banks that issue mortgage loans for housing.
In order to facilitate the process of purchasing their own home, Russian banks provide the population with a number of mortgage programs that imply more favorable conditions for debt repayment. Such programs include the social mortgage program.
Social mortgage is a mortgage program that allows you to purchase residential property at a more affordable price on very favorable terms.
This mortgage is provided to certain categories of residents of the Russian Federation and consists of close cooperation between banking organizations and government agencies.
The program consists of reducing the cost of purchased housing at the expense of public funds. The total cost of the apartment can be reduced by 4 or more times.
Video on the topic:
Social mortgage may be based on one of the following principles:
- Providing a mortgage for real estate with a reduced interest rate on monthly debt payments. The percentage reduction is due to government subsidies. A smaller and more convenient payment schedule makes the process of repaying a mortgage loan more comfortable.
- State subsidies for the payment of part of the cost of housing, which the state pays to the bank. This subsidy also includes part of the interest rate. This form of social mortgage is provided, as a rule, to low-income segments of the population, such as employees of budgetary organizations: teachers, doctors, scientific and cultural workers.
- It is possible to sell secondary apartments with a mortgage at low prices.
There are many types of social mortgage programs designed for different segments of the population, depending on their type of activity and financial situation.
Who is entitled to a social mortgage?
Social mortgage lending exists to facilitate the purchase of a home through benefits that are paid from public funds. Not everyone can count on these benefits.
According to current Russian legislation, people who need to improve their living conditions apply for a social mortgage if their current living conditions are worse than the standards stated by law.
In order to understand whether you can count on a social mortgage, you need to contact local government representatives in order to provide all the information necessary on this issue.
First of all, a person needs to confirm the fact that he needs to improve his living conditions. Those in need include people who do not have their own housing, people whose living space is less than the required 18 square meters per person.
Representatives of budgetary organizations, large families, military personnel, government employees, and people on a waiting list for housing can count on a social mortgage.
It is necessary to have Russian citizenship, registration, and work experience.
There is a list of nuances associated with obtaining the opportunity to obtain a social mortgage:
Do they provide social mortgages in Moscow?
In Moscow, persons eligible to participate in this program can apply for a social mortgage to absolutely any bank.
The lending conditions provided by the capital's banks are very favorable and accessible to representatives of many segments of the population.
The cost of housing in Moscow, according to the terms of social mortgage lending, is reduced from the market price to an amount equal to the cost of the apartment, which makes living space several times cheaper.
Bank conditions
Social mortgages are issued by banking organizations that approve the issuance of mortgage loans for housing to certain individuals.
If the bank’s decision is positive, the mortgage can be provided on the following conditions:
- loan repayment period up to 30 years;
- the average interest rate is 12.2% of the cost of housing;
- for mortgage loan payments varies from 10 to 30 percent of the total cost of the purchased apartment.
The bank offers its own conditions, in many cases they are individual and depend on a number of factors (the financial and social situation of the borrower, the number of children in the family).
Requirements for borrowers
To receive a social mortgage, a program participant is required to meet a number of requirements. Moscow's social mortgage program assumes that the borrower is in the queue for housing.
Useful video:
Doctors
Social mortgage for doctors implies a number of requirements for medical workers.
These requirements are as follows:
- the need for a medical education diploma;
- the doctor’s age should not exceed 35 years;
- At least one year of work experience in medicine;
- the health worker must need improved living conditions (live in a rented apartment, in an apartment where each family member has less than the required 18 sq. m);
- the need to work for at least five years in medicine in the future.
Teachers
Mortgages provided to young teachers require that they meet certain criteria. The teacher should not be older than thirty years.
A necessary condition for granting a state subsidy is a diploma, confirming teacher qualifications.
An important criterion for the provision of benefits is the fact that the teacher is provided with a mortgage loan for housing.
Work experience must be at least three years.
An important nuance is that to be able to receive a mortgage subsidy, a young teacher must work in a public educational institution.
Scientists
The procedure for providing benefits for the payment of mortgage debt for housing for young scientists is determined by the current legislation of the Russian Federation.
Yes, benefits eligible for candidates of science no older than 35 years of age, doctors are not older than 40 years. In general, work experience in a scientific institution of the Russian Academy of Sciences must be at least five years.
A young scientist should receive the status of someone in need of improved quality of living conditions.
Which Moscow banks offer the program?
The program operates in all major banks in the capital.
The conditions for issuing a mortgage and the requirements for those wishing to acquire their own apartment vary depending on the banking organization.
The leaders in the country's financial market include the following banks:
- Sberbank;
- VTB 24;
- Raiffeisenbank;
- Gazprombank;
- Svyaz-Bank.
This is important to know:
Sberbank
This bank provides its clients with mortgages on very favorable terms. Sberbank has a social mortgage program for budget employees and members of law enforcement agencies, and young families.
The interest rate on the balance of the debt depends on the length of service, length of service, financial situation of the borrower and varies from 10 to 13.5 percent. The amount of the down payment is from 10%. The payment period is up to 30 years.
There are also some requirements for housing.
The apartment must be in satisfactory condition (deterioration of communications by no more than 50%), and the house must not be in emergency condition.
VTB 24
VTB 24 Bank provides social mortgage lending for various segments of the population who are entitled to benefits for the purchase of housing, offering borrowers a lot of programs:
- for the military;
- purchasing a new home;
- issuing loans for an existing apartment;
- for young families and many others.
Interest rate on average is 10%-12%. Down payment – from 10%.
There is a system of reducing the interest rate in accordance with the increase in the area of the apartment.
Raiffeisenbank
This bank has a lot of advantages in issuing social mortgage loans. The interest rate does not depend on changes in the ruble exchange rate.
Loyal system for approving mortgage applications. A fairly fast decision-making process on applications from potential borrowers.
Gazprombank
Provides a loan for an apartment on the following conditions:
- the minimum monthly interest rate is 11.75%
- the first payment is equal to a fifth of the cost of the apartment (20%)
- the amount provided by the bank cannot exceed eight million rubles
- The loan is issued for 10 years.
Svyaz-bank
Svyaz-Bank clients are also provided with social mortgage lending programs on very favorable terms.
Svyaz Bank provides mortgages for both finished housing and housing in a new building.
The minimum interest rate on a mortgage is from 9.5%, there is a credit limit of up to 30 million rubles, and the loan term is up to 30 years.
How to participate in the program?
If you want to take part in this program in the city of Moscow, the first thing you need to do is go straight to the administration and get a list of documents required when registering the status of a person in need of improved housing conditions.
Procedure for purchasing housing in Moscow using a social mortgage
No less important is being on the waiting list for an apartment.
Having the right to provide benefits contributes to obtaining a social mortgage, helping to fulfill the dream of owning your own home.
Video from an expert
. In the application, you need to choose the method (form) of providing residential premises - a social mortgage. Everyone must sign it Applicants are everyone who is listed in your accounting file.">applicants And Family members are the spouses and minor children of all applicants.">members of their family.
You can find out your place in the queue by sending a request via one-stop service of the Moscow City Property Department. You will be provided with a response in writing within 30 days.
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