Social mortgage.

The word «mortgage» is familiar to everyone, but what do you know about the «social mortgage»? In this article we will tell you who is based on a social mortgage, under what conditions it is provided and where to handle the issue.

Let’s start, first of all, with the concept of «social mortgage». Our state is always trying to help citizens, creating various social programs, thanks to which the chances of acquiring real estate increase. In the question of «social mortgage» we are talking about a preferential category of citizens.

This year there are various types of lending to a large number of Russian citizens.

For example, there are various types of state support to large families, special subsidies that can be used to repay the balance from the main mortgage debt.

Obtaining a certificate for maternity capital. The most common measure of support among families with children. It allows you to improve housing conditions, pay the initial contribution and repay the mortgage, as well as buy accommodation without a mortgage or build a house. True, there are restrictions at the age of the child, with the birth of which the right to receive maternal capital arose. You can clarify information in the FIU or on the public service website.

Also on social assistance in mortgage can be calculated by military personnel, teachers and doctors, residents of the Far Eastern region, as well as families with children. Families with two or more children can take a mortgage with state support — under 5% or 6% for the entire loan period. The difference between the preferential and market rate of the bank compensates for the state.

Separately, it is worth indicating the low-income category of citizens, in this case the banks can reduce the requirements for borrowers, establishing a long term of the contract, thereby reducing the amount of the monthly payment.

Young families, where both spouses did not reach 35 years old, can also count on preferential conditions on the mortgage. The presence of children is optional here, but if you still have the status of parents, it can increase the percentage of the subsidy size.

In rural areas and small cities you can buy a new building or secondary housing in a mortgage with a preferential rate — from 0.1% to 3%. You can also take a loan for the construction of the house.

The main requirement for borrowers is the availability of citizenship of the Russian Federation and living in rural areas or the city with a population of no more than 10,000 people. There are no conditions for the marital status and age.

The preferential mortgage under 6.5% this program allows you to purchase a new building at the legal entity at a preferential rate — 6.5%. It is available to all citizens of Russia regardless of age, the family situation and the presence of children.

It is worth mentioning mortgage programs for individuals who have for each family member there are not enough residential area and preferential housing lending for persons who receive subsidies for the purchase of housing, as well as veterans of hostilities.

To begin with, you need to decide on which preferential category of citizens treats exactly you or your family. Then explore the supply of banks and choose the most profitable. Collect the desired package of documents and directly turn to the bank.

A complete list of conditions is specified in the bank, but as a rule, the most important are: official employment, solvency, the age of the borrower over 18 years old.

We hope our material was useful for you.