All you wanted to know about maternal capital and mortgage …

The state program of social support for the population, as well as improved demographic situations, more well-known as «maternity capital» was introduced in 2007.

After 8 years, the amount rose to 453 thousand rubles and froze until January 1, 2020. This decision was made in order to stabilize the budget of the country. With the onset of 2020, the indexation continued, but it did not apply to the already issued documents.

In June 2021, the amount was indexed and amounted to 483 thousand rubles.

The appeal to the time certificate is not limited. If the second and subsequent child was born or adopted during the period of the state program. This means that the family can submit documents at any time. There are also no restrictions on the duration of the document.

In order to issue maternity capital, it is necessary to contact the FIU at the place of residence and provide the necessary package of documents. Regulatoryly it is stipulated that only citizens of Russia can count on these money.

Pension fund employees are provided with both copies and original documents.

One of the most sought-after methods of using the Matkapital is to improve the housing conditions and the payment of mortgage obligations.

Maternity capital money can be used for the initial mortgage contribution or to repay it, partial payment of housing costs, construction or domestic reconstruction.

Since 2020, the certificate can also be spent on the construction of a private house in the garden plot. Dotation can also be used in the acquisition of real estate through exoru-accounts. But to buy a plot to the maternal certificate — it is impossible to apartments.

In 2021, opportunities will be wider, so the certificate can be applied in the form of an initial contribution of the rural mortgage, as well as to use the closure of military mortgage.

The certificate has certain limitations. For example, when purchasing housing with the use of maternal capital, a prerequisite is a prerequisite for children in real estate.

If you wanted to sell housing, which was purchased using maternity capital, then you will need to put the children in the new apartment. Typically, such transactions are only after the permission of the guardianship authorities, which makes this process much more difficult.

If there was a need to implement an apartment before the design of property, including children, then in case of termination, all funds will be returned to the Russian Pension Fund.

Also on the means of maternal capital, you can purchase a separate object, and not a share of the total ownership, if this share is not an isolated room with a separate entrance and communications.

When paying the initial contribution by maternity capital, experts advise on their own funds, this will increase the chances of approval in a financial institution. Most lenders set additional requirements for making their own borrower for the initial contribution. For example, maternal capital and 5% of own funds.

The introduction of only the Matkapital is not the cause of refusal, but it is worth understanding that the higher the amount of the contribution, the higher the probability of approval of the application.

We hope that our article was useful to you.