Mortgage for maternity capital

Mortgage and maternity capital are perhaps the most popular loan program. Bank proposals involve making part of the down payment or paying the principal amount of the debt, as well as interest on it, using a government subsidy.

According to the law, maternity capital, in whole or in part, can be used for various purposes. With its help it is offered:

• pay the down payment amount after receiving a loan (including a mortgage, purchase of a home or its construction);

• repay the principal amount or pay interest on loans and borrowings.

Maternity capital finance can be used both as a partial payment of the down payment and to pay off debt on an existing mortgage. To use this program you must meet the following conditions:

1. The down payment must include funds from both maternity capital and personal financial savings. At the same time, maternity capital should not exceed 15% of the estimated cost of the purchased living space. At the same time, the amount of your own finances must be at least 5% of the value of the purchased property.
2. Providing an official state certificate that confirms the participation of a citizen of the Russian Federation in the maternity capital program, as well as a certificate from the Russian Pension Fund at the place of residence, which indicates the amount of the remaining amount of mat capital.

Some banks allow only maternity capital as a down payment without adding their own funds, if the amount of capital fully covers 15% of the cost of the apartment. For example, in Sberbank this is exactly the case, if an apartment costs 2,000,000 rubles, then only the capital will be used as the initial capital, since this is more than 15% of the cost of the apartment.

Features of obtaining family capital with a mortgage

Today, a lot of special loan packages have been offered for the use of family capital. In addition to the country's leading banking institutions, a similar solution was presented by the Housing Mortgage Lending Agency (Dom.rf), which implements programs with the support of banks. To receive maternity capital, you must carefully study all the established conditions. First of all, the borrower’s family must fully meet the requirements put forward by the bank. In general, they are standard:

• the borrower must have a stable average income with at least six months of work experience at the last place of employment;
• age restrictions: from 20 to 65 years at the time of loan repayment;
• the borrower’s total work experience over the past five years is at least 12 months;
• availability of documents that confirm work experience (at least half a year at the last job) and;
• solvency: when applying for a mortgage loan, only “white” income is taken into account. “Gray” parts of wages and third-party income can only be taken into account as additional or unstable;
• Loan approval can only be obtained with a clean credit history.
• provision of a state certificate of participation in the program “Lending taking into account the maternal certificate”, as well as a certificate from the Pension Fund of the Russian Federation on the amount of the required amount.

In addition to the certificate and certificate from the Pension Fund of the Russian Federation, the standard package of documents consists of:

• Photocopies of each page of the country’s citizen’s passport;
• A certified copy of the work book with the employer's seal on all pages;
• Certificates confirming the borrower's solvency.

Recommended article: How to sell a house bought with maternity capital

Additionally, the bank may need to provide a photocopy of an employment contract, education documents, other lending agreements (if any), bank statements and photocopies of documents that confirm the borrower has real estate or expensive property. The requirements for documents for a mortgage are detailed in another article.

What can you buy with a mortgage using maternity capital?

Real estate is available for lending in both the primary and secondary markets. By type of housing, it can be an apartment, a share in an apartment, a room, or a country house. Rosbank programs allow a potential borrower to choose a housing option based on their wishes and capabilities.

For example, living outside the city is becoming increasingly popular, especially among large families with children. By taking out a mortgage (housing loan) against maternity capital for a country house, you will ensure yourself space, natural beauty, clean air and independence from your neighbors without giving up comfort - houses in modern villages have the necessary communications, they are warm and reliable.

Taking out a mortgage against maternity capital for a share in an apartment or a room on the secondary market means expanding the existing living space (if, for example, we are talking about the last share) or taking care of the future (investing in a loan to purchase a separate home for a growing child).

And of course, within the framework of the program, you can get a mortgage using maternity capital for the most popular type of real estate - an apartment. In the case of a “secondary housing”, this is an opportunity not to postpone the move and not wait for the development of the area’s infrastructure; Housing under construction has a lower cost per square meter and an initially small down payment, which can be further reduced with a mortgage using maternity capital. You can check with our specialists for more detailed information.

Whatever market and type of real estate you are interested in, a loan from our bank will help you realize your plans and make the long-awaited purchase.
Don’t miss your chance, because mortgage lending with maternity capital and additional options is a convenient and effective tool for solving the housing problem. Check out Rosbank’s special offer “Set your rate!”

How is a mortgage issued for the amount of maternity capital?

To obtain a home loan using family capital, you will need to go through several steps:

Stage 1

The Borrower's application to the Pension Fund of Russia branch to obtain a certificate of the balance of family capital for a period of no more than a month at the time of receiving the loan.

The following documents are provided to the bank:

• Borrower questionnaire;
• Copies of borrowers’ passports;
• Certificates from work 2 personal income tax or in the form of the bank (what are the requirements for these documents, read the article - Requirements for documents for an online mortgage);
• Birth certificates of children (if the child has a passport - from 14 years old, then the child’s passport);
• Marriage certificate;
• State certificate for maternity (family) capital;
• Certificate from the Pension Fund of the Russian Federation regarding the amount of maternity capital balance;
• INN, SNILS.

Stage 2

• The bank reviews the borrowers' application and makes an approval.
• After this, buyers provide a package of documents for the property and order an assessment.
• The bank approves the property for purchase and signs a loan agreement with the borrowers.
• The transfer of money under the loan agreement occurs after the registration of ownership of the Buyers and the registration of a pledge by force of law in favor of the bank on the property.

Important! While registration is underway, and then money is transferred from the pension fund, borrowers will need to pay at least 2 payments according to the schedule.

Stage 3

1. The bank obtains a certificate about the balance of debt under the loan agreement.
2. Buyers go to a notary and draw up an obligation to allocate shares to children after removing the encumbrance on the residential property.

A package of documents is provided to the Pension Fund for transferring money to close the debt under the loan agreement:

• Loan agreement;
• Contract of sale;
• Extract from the Unified State Register of Real Estate;
• Notarial obligation;
• Certificate from the Bank regarding the balance of debt under the loan agreement;
• Passport
• Children's birth certificate.

Stage 4

1. The Pension Fund of the Russian Federation transfers the amount according to the certificate. The creditor must provide the authority with documentation confirming the use of family capital funds strictly for their intended purpose.
2. The bank removes the encumbrance from the property, and this can happen in different ways:

• or the bank itself will apply for removal of the encumbrance and simply notify buyers, for example, this is what Sberbank does;
• or he will give the mortgage to the buyers, and they personally go to the MFC to hand over the mortgage.

Note! You need to have with you to the MFC: passports, a mortgage, payment of state duty is not required, a coupon at the MFC is issued for Rosregister services - other registration actions. Repayment of the mortgage record occurs within 3-5 days. A new extract from the Unified State Register can be ordered at the MFC by paying 400 rubles.

In addition to banks, consumer cooperatives also provide loans in the amount of maternity capital. Their conditions are simpler, but the client will pay more money. Read more about the terms of loans in consumer cooperatives in a separate article. You can also get a loan from your employer. How to do this is detailed in the article: Loan from an employer for maternity capital

Transaction settlement procedure

This is the most important stage where the most difficulties arise. When receiving a loan, it is important to understand how to use maternity capital from Sberbank for a mortgage. There are two ways to use government support funds:

1. The entire amount is included in the loan body, allowing you to partially repay the debt.
2. The money is sent to the seller from the Pension Fund directly after the transaction is concluded (the child is 3 years old).

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In the first case, we are talking about partial repayment, when the payment amount is recalculated or the loan term is reduced. Until the Pension Fund transfers the required amount to the bank, the borrower pays interest on the entire loan.

Procedure:

• taking out a housing loan - initially the amount of debt will be larger, because MSC funds have not yet been transferred;
• the bank transfers the mortgage money to the seller under the agreement - at this moment the borrower applies to the Pension Fund of the Russian Federation with an application for disposal of the mat. capital (or Sberbank itself will submit an application);
• funds are transferred from the Pension Fund to the bank - the transfer period should not exceed 30 days (usually sent within 10 days from the date of registration of the application).

In a situation with a direct transfer of funds to the seller, the schedule remains unchanged.

Maria Yurievna Sokhan

Mortgage expert, General Director of the legal agency "Irene", administrator of the portal onipoteka.ru

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We specify the transfer of Moscow time to the seller in the Purchase and Sales Agreement: “The calculation is made in the following order:

- part of the cost of the property in the amount of 639,000 (Six hundred thirty-nine thousand) rubles 00 kopecks is paid by the Buyer to the Seller at the expense of the State Certificate for Maternity (Family) Capital form: series MK - 4 No. 0000 dated March 00, 2012, issued in the name of______ on the basis Decisions of the OPFR No. dated.

The funds are paid within 2-2 months after registration of the Buyer’s property rights in the Office of the Federal Service for State Registration, Cadastre and Cartography in the ____region, by transferring the Office of the Pension Fund of the Russian Federation (state institution) in the city of _____ (interdistrict) to the Seller’s account No. __ , opened in __ branch No. 8615 of Sberbank PJSC, BIC: 043207612; OGRN 1027700132195, INN: 7707083893, KPP: 44861507771; corr. Account: 30101810200000000612, opened in the name of __________________"

Bank managers will tell you how to contribute maternity capital to a Sberbank mortgage, and at what stage to do it. The procedure takes place after registering the transaction in Rosreestr. When the extract on registration of rights is in hand, the remaining funds are transferred to the seller.

To transfer maternity capital directly to the seller, you will have to contact the Pension Fund with an application. The calculation procedure is as follows:

1. we sign insurance, a loan agreement;
2. we transfer the initial loan (if you have cash), or deposit it into the borrower’s account;
3. transaction in the MFC or electronic in Sberbank, signing a purchase and sale agreement;
4. receiving ready documents;
5. the bank transfers the mortgage money to the seller under the agreement - at this moment the borrower applies to the Pension Fund of the Russian Federation with an application for disposal of the mat. capital;
6. funds are transferred from the Pension Fund to the bank - the transfer period should not exceed 30 days (usually sent within 10 days from the date of registration of the application).

Often, state support funds are transferred within two months from the date the loan is issued. They will not be transferred directly to the developer until the child turns 3 years old. In such a situation, as a rule, the amount is sent to the bank as a loan installment.

Understanding how to invest maternity capital in a Sberbank mortgage, you can count on lower interest rates and be sure that you have a down payment. However, do not forget about certain nuances of using state support funds. In March 2021, some changes were introduced to the procedure for transferring money.

Procedure for early partial repayment of a mortgage

Family capital to repay a mortgage received earlier can be used if an application is submitted to the Pension Fund branch. The amount is transferred from the fund's account to the account of a bank or credit institution with which the purchased residential property is pledged. Please note: family capital cannot be used to pay fines, penalties and other sanctions accrued on a mortgage loan. In general, the procedure for repaying a mortgage with family capital is the same as described above from stage 3, but in brief it looks like this:

Recommended article: How to buy an apartment with maternity capital without a mortgage

1. In the case of purchasing finished housing, and not an apartment in a building under construction, the borrower must contact Rosreestr to register ownership of the apartment. The extract from the Unified State Register will indicate that the apartment is pledged to the bank.
2. Next, you need to get a certificate of debt from a bank or other financial institution.
3. A package of documents is being collected to be submitted to the Pension Fund office along with an application for disposition. The application will be reviewed by the Pension Fund within 30 days. If approved, a similar period is provided for the transfer of funds from the PFR account to a bank account.
4. After transferring funds, the bank recalculates and draws up a new payment schedule.

The procedure for partial early repayment of a housing loan. capital

The procedure applies if MSC funds were received after the loan was issued, or part of them was spent as a down payment. The remaining amount can be sent, with the permission of the Pension Fund, to a mortgage account at the bank.

If maternity capital on a Sberbank mortgage was not used as a down payment, it can partially or fully repay the debt.

Extinguishing is carried out in three steps:

1. Request a certificate from the financial institution where you took out the loan about the amount of debt.
2. Collect the documents required by the Pension Fund of Russia, attach this certificate and send it along with the application to this department.
3. Within a month, the request is processed, and based on the results, the money is transferred to the bank.

Partial repayment of a mortgage with maternal capital at Sberbank is allowed even at the initial stage, when funds have just been received (no need to wait 3 years -).

After depositing the required amount, a recalculation is carried out, and the borrower is given a new schedule. You can pay off not only the body of the loan with state support, but also the interest part (). Such nuances are discussed during a visit to the bank. But keep in mind that while the Pension Fund is considering your application, you will have to pay according to the old schedule.

In addition to changing the payment amount, it is possible to reduce the term of the Sberbank mortgage with maternity capital. In this case, the monthly amount will remain the same, and the payment period will be shortened. The specific option is selected based on your preferences and the rules of the specific lending program.

Recommended article: Buying an apartment secured by Sberbank with a Sberbank mortgage

If Sberbank has already issued a mortgage to a young family with maternity capital, and part of these funds were used as a down payment, the remaining part can be paid off to pay off the debt.

Applying for a mortgage with a mat cap during maternity leave

According to the Federal Law “On Mortgages” of 1998, lending is provided to Russian citizens who are on maternity leave. To do this, you will need to meet the following conditions:

1. The financially secure man acts as the borrower, and the woman acts as the borrower. The banking system provides for joint liability for a mortgage loan. In this situation, the woman’s income is not taken into account.
2. The woman’s parents are ready to pledge their home as collateral to the bank.
3. Providing the woman with a solvent guarantor.

The likelihood of receiving a positive response during maternity leave is increased by the availability of loans repaid without delay from a given bank. Maternity capital as a down payment for a mortgage, the amount of which exceeds the standard rate (20% of the price of the home), also increases the chances of obtaining a loan.

Who should be the borrower if one of the spouses is on maternity leave?

The Mortgage Plus Maternity Capital program at Sberbank involves issuing funds for the purchase of housing to spouses, one of whom is on maternity leave. In this case, the borrower can be a solvent parent, but under certain conditions. First, it’s worth identifying the circumstances that reduce the likelihood of your application being approved:

• availability of consumer or other loans from other organizations;
• bad credit history.

There is a much greater chance of getting a mortgage from Sberbank using maternity capital if the title borrower is a working spouse. You can increase your likelihood of approval by:

• increased down payment amount (30-50%);
• whether the spouse works from home while on maternity leave;
• passive income or providing additional collateral.

Expert opinion

Magina Tatyana Vitalievna

Real estate expert, mortgage broker, banking specialist

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The title borrower must be a spouse who has a regular income. You can apply for a woman on maternity leave without a spouse only if she has sufficient income and the ability to confirm its amount. The title (main) borrower cannot simply be a relative, for example, the mother or grandmother of a woman on maternity leave.

Sberbank mortgages with maternity capital as an initial payment are also issued under the Young Family program (when one of the spouses is under 35 years old). Compare the borrower requirements, amounts and rates for the two programs, and then choose the best option.

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A positive factor that increases the chances of approval of an application from a borrower on maternity leave is the presence of official income. Moreover, this can be not only work activity, but also profit from renting an apartment, etc. Sberbank issues mortgages with maternity capital online. On the website you can calculate the payment amount, loan amount and find out other information. There is also information about the documentation package here. It is the same for any client (on maternity leave or not).

Opportunities for the unemployed

The issuance of a state certificate does not guarantee the bank’s approval of a mortgage loan, since there is no separate program for issuing a loan for maternity capital. Regardless of the conditions, each borrower is required to provide a package of documents that can confirm his solvency.

If a potential borrower is officially unemployed, then the presence of maternity capital is not a basis for issuing a loan, since its size is not able to cover the cost of real estate. It is the proof of the ability to repay the debt that is a strong argument for lending, and maternity capital can be used as an initial mortgage payment.

How to get a mortgage without proof of income is in another article.

When the child is under three years old

Disposal of funds from maternity capital until the youngest child reaches three years of age remains one of the most pressing issues. According to generally accepted rules, a woman has the right to spend them only after 3 years. But there are several exceptions that allow you to circumvent this limitation. They are:

• Early repayment of the mortgage with maternal capital and payment of interest on a housing loan. According to Federal Law 256, early use of maternity capital is allowed, subject to their further use for improving housing conditions. At the same time, both the owner of the maternal certificate and his officially legalized spouse can become a borrower.
• Initial mortgage payment. To repay the down payment with maternity capital when taking out a loan (from 10 to 30% of the cost of living space), you must submit an application to the Pension Fund of the Russian Federation indicating the types and amounts of expenses, as well as provide documentation confirming receipt of a mortgage loan.

Recommended article: Regional maternity capital: how to apply for it and what to spend it on

Registration without a spouse or with a non-working husband

If a woman is not in an officially registered marriage, but wants to purchase real estate using maternity capital, there are no provisions at the legislative level prohibiting the implementation of this idea. The only conditions that must be used are that the woman is not on maternity leave and proof of her own solvency (providing a certificate of income and place of work).

If it is not possible to provide work certificates, you can take out a mortgage for your parents, and the owner of the certificate will act as a co-borrower (Sberbank allows this use of maternity capital).

If a woman is in an officially registered marriage with a non-working man, you can use a mother’s certificate to take out a mortgage for a living space, subject to the same conditions as indicated above. While on maternity leave, the main borrower is a financially wealthy man, and the woman is a co-borrower.

Amount of maternity capital and down payment

The payment was indexed many times; from 2007 to 2021 it increased from 250 thousand rubles to 453 thousand. In 2018-2019 no increase is provided. The money can be used in whole or in part towards the down payment. If the support amount is not enough for the first payment, the difference can be covered from your own funds.

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Most mortgage programs for maternity capital provide for a down payment of 15%. In Sberbank this is the only condition; it is permissible to fully finance the amount with support money. VTB (formerly VTB 24) requires the participation of the borrower's own funds in the down payment, while the share of state support should not exceed 15%.

If you buy real estate from your parents

The procedure for conducting a transaction for the purchase and sale of living space from relatives does not differ at all from a standard transaction where citizens who are not related are involved. A classic loan is processed; an application is submitted to the Pension Fund of the Russian Federation to repay the loan interest or the down payment. The only restrictions are:

1. It is prohibited to conduct a purchase and sale transaction between officially registered spouses or with one of the child’s parents. This is due to the possibility of considering the transaction as monetization of maternity capital or cashing out its funds. But at the same time, drawing up contracts between other relatives (for example, between a parent and a child, etc.) is not prohibited.
2. It is prohibited to carry out so-called “imaginary transactions”, that is, without changing the order of use of the living space and for cashing out the finances of the mother’s certificate.
3. The Russian Pension Fund recognizes only contracts where the family officially acquires ownership rights from the parents, who fully formalize the refusal to own a share of the sold living space.

If the invalidity of the drawn up contract is revealed or fraud is proven, all potential participants in the pseudo-transaction are brought to criminal liability.

For banks, the main requirement for transactions with real estate purchased from parents is the availability of other property for permanent residence, i.e. the other apartment or house must be owned by the parents.

For the purchase of housing under construction

Citizens of the Russian Federation have the legal right to use maternity capital finances to invest in real estate under construction, which is stated in Federal Law No. 214 of December 30, 2004. In this situation, an official drawing up of an equity participation agreement (DPA) takes place between the borrower and the construction company. At the same time, the borrower must have on hand the amount necessary to repay the cost of the contract (in addition to the finances allocated by the state).

If the developer provides for the possibility of purchasing his property with funds from maternity capital, then this procedure takes place in several stages:

1. Selection and reservation of real estate, after which the seller is notified that part of the cost will be repaid with maternity capital.
2. Drawing up a DDU indicating payment in installments (the Pension Fund transfers the necessary finances no earlier than 2 months).
3. Registration of the agreement in Rosreestr.
4. Payment of obligations under DDU.

A mortgage with maternal capital is an optimal, affordable and realistic way to provide yourself and your unborn child with a large living space, which is especially important for young families.

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Author:

Maria Yurievna Sokhan

Publication dateJuly 10, 2018February 21, 2019