Review of the “Young Family” mortgage program at Rosselkhozbank

Due to the high cost of housing, not every person can afford to buy it. To make it more accessible, the state, represented by modern banking institutions, is developing and implementing various programs for the acquisition of residential properties. One of the most popular and popular programs in 2021 is the Young Family mortgage from Rosselkhozbank.

Many banks provide services for its registration, including RSHB. The article provides information regarding the special conditions under which real estate is provided and what type of property is purchased under the proposed program.

Features of a mortgage for a young family at RSHB

Family mortgage from Rosselkhozbank at a favorable interest rate.
On January 1, 2021, the Government of the Russian Federation approved the introduction of a mortgage lending program for young families at a reduced interest rate of 6%.

Couples who are officially married and give birth to a second or subsequent child before the end of 2022 can take advantage of the offer. The state will compensate the creditor for the rest of the interest payment.

Family mortgage at RSHB has the following features:

1. The interest rate is lower than specified in the Government Resolution - 4.7%;
2. The benefit is valid for a limited loan period - 3 years at the birth of the second child, 5 years at the birth of the third, 8 years at the birth of the second and third (or subsequent) in the period 2018-2022. (after the specified period, the rate automatically increases to the standard rate specified in the mortgage agreement).
3. The program can be used by families with 1 disabled child.

Advantages

Taking out a family mortgage has the following advantages:

• no commissions for transactions;
• providing the borrower with the right to choose a method of debt payment - annuity or differentiated;
• obtaining a loan for a long term - up to 30 years;
• confirmation of income in any convenient way, including providing a certificate in the form of a bank.

Advantages and disadvantages

For young families, Rosselkhozbank provides a lot of advantages when applying for a mortgage loan, namely:

1. Separate programs for young married couples.
2. There are two repayment options to choose from – annuity and differentiated system.
3. There are no fees for issuing or maintaining a loan.
4. Availability of a function to confirm unofficial income through a bank form.
5. There are no penalties for early fulfillment of obligations to the bank.

There are practically no disadvantages to this loan product. Some borrowers complain about inflated interest rates, but with no additional fees, this goes without saying.

Current programs

At Rosselkhozbank, young families can take advantage of one of 2 special offers:

1. Family mortgage at a preferential interest rate.
2. Loan using maternity capital.

The programs apply to families with 2 or more children born before the end of 2022. The proposals were developed as part of a government project to improve the demographic situation in the country. Their goal is to provide citizens with good living conditions.

According to the bank’s terms, real estate can only be purchased from construction companies that have been accredited by Rosselkhozbank.

Citizens who have already taken out a mortgage loan can apply for refinancing.

Mortgage terms

The mortgage loan is provided on the following conditions:

1. Loan amount - from 100 thousand to 6 million rubles. (in Moscow, Moscow region and St. Petersburg - up to 12 million rubles).
2. The contract is valid for up to 30 years.
3. Number of borrowers - up to 3 people. Each of them must meet the bank’s requirements and have a positive credit history.
4. All family members have confirmed Russian citizenship.
5. The amount of the down payment is from 20% (when refinancing, compliance with this condition is not required).
6. Registration of purchased housing as collateral.
7. Signing a life and health insurance agreement for borrowers (if the conditions are not met, the interest rate increases to 6%).

A mortgage application is reviewed within 5 working days.

Interest rate

Rosselkhozbank sets a preferential rate of 4.7%.

To take advantage of the offer, the borrower must comply with the following requirements:

• make payments regularly without delays;
• insure the purchased property, your life and health (this also applies to co-borrowers).

If one of the conditions is not met, the percentage increases to 6.

Interest rate of 4.7%.

Requirements for borrowers

Applicants must meet a number of requirements:

• Russian citizenship of all family members;
• official registration in the country;
• age from 21 to 65 years (during the entire term of the loan agreement);
• work experience of 6 months at the last place of work and 1 year in the last 5 years (for salary clients the terms are reduced by 2 times);
• the birth of a second or subsequent children before the end of 2022;
• positive credit history.

Intended use

Under the Young Family program, real estate can be purchased on the basis of the following types of agreements:

1. Purchase and sale.
2. Share.
3. Assignment of claims.

The selected housing must meet a number of parameters:

• be owned by the organization;
• have a technical condition suitable for the intended use;
• have no encumbrances;
• not be on the list for demolition or reconstruction.

Mortgage with the obligatory execution of a purchase and sale agreement.

Rosselkhozbank mortgage calculator

An online calculator will help the user get an idea of ​​the maximum possible loan size and monthly payment amounts.

Calculation results:

• subsidy amount - up to 20 million rubles;
• share of investments using own funds - at least 10%;
• loan term - up to 30 years;
• loan repayment methods - annuity or differentiated payments.

The information obtained using the calculator is an estimate, but allows you to roughly calculate possible subsidy amounts without visiting the bank and study the monthly payment schedule in accordance with the client’s solvency, loan term, and type of real estate. More accurate information will become available after visiting Rosselkhozbank in person and consulting a banking specialist.

Required documents

These include 2 packages of documents - from the applicant and for the real estate.

From the applicant

Each borrower must provide the following package of papers:

1. An application filled out with accurate personal data without errors.
2. Passport.
3. SNILS.
4. TIN.
5. Certificate of a citizen subject to conscription for military service (for men 21-28 years old).
6. Marriage certificate.
7. Birth certificates for all children.
8. Certificate confirming income (2-NDFL or according to the bank form).
9. Certificate of work experience.
10. A copy of the work record, certified by the employer.

The bank has the right to request additional documents at the discretion of the security department employees.

Passport and birth certificates are among the required documents for a mortgage.

For real estate

RSHB carefully checks the “purity” of all objects purchased with a mortgage.

In addition to personal documents, you need to submit papers for the apartment:

1. An extract from the Unified State Register of Real Estate, which indicates the address of the object, its area, technical characteristics, who owns the right to own square meters, the fact that there are no encumbrances or arrests. The document is valid for 1 month.
2. Report on the market value of housing (prepared by an authorized appraiser no earlier than six months before submission to the bank).
3. An extract from the house register, generated no earlier than 1 month ago.
4. A copy of the technical passport of a residential property or cadastral passport in case of purchasing a private house or land plot.
5. A certificate indicating information about the developer.
6. A copy of the permit for the construction of a residential building.
7. Agreement on shared participation in construction.
8. Consent of the spouse to register a mortgage and transfer real estate as collateral (notarized).

Sample extract from the Unified State Register.

Apartments on the secondary market with a mortgage

Secondary housing can be purchased under the standard mortgage lending program from RosselkhozBank. The lender's official portal says that the loan is issued for the purchase of housing on the secondary real estate market:

• Apartments in a finished building.
• Apartments in a townhouse with a plot of land underneath.
• Apartments.

The Bank has the following basic requirements for housing:

• The house is suitable for habitation, is not in disrepair and is not included in the program for the resettlement of dilapidated housing.
• The ceilings are solid, not wooden.
• Wear of the structure is up to 70%.
• The building must be less than 30 years old.
• Unregistered persons, especially children, are not registered.
• There are no encumbrances - pledge, arrest, claims of third parties.
• The area of ​​the apartment must comply with the standards established by the bank; it is better to check their list with a mortgage specialist.

The minimum contribution with your own funds for a mortgage on secondary housing from RosselkhozBank is 15% of the market price of the property.

You will need to collect documents for the property being purchased:

• Extract from the Unified State Register of Real Estate, which is currently the main document confirming ownership and absence of encumbrance. It is valid for 1 month.
• Copies of sellers' passports.
• Assessment report for secondary housing. The appraiser analyzes the current market situation and finds out the real value of the purchased object. The report is valid for 6 months. The company must be agreed upon with the lender or selected from his list of appraisal companies. The average cost of an assessment report in Russia is 5-6 thousand rubles. A report on the price of land plots and country houses is more expensive than an apartment appraisal.
• Certificate of family composition/registered in the residential premises. It is valid for 1 month. You can get it at the HOA (homeowners' association), passport office or at the nearest MFC.
• A notarized statement from the spouse that he is not against transferring the loaned object as collateral to the bank if the borrower is married.
• Technical documents. For secondary residential premises - technical passport and cadastral plan. If they have not been formalized before, you will have to do them, because otherwise Rosreestr will not register the transaction.
• Draft purchase and sale agreement.

All costs associated with collecting documents are borne by the borrower; they are not included in the cost of the loan. By agreement, you can split expenses with the real estate seller; this issue is resolved without the participation of a credit institution.

Rules for registration and procedure for obtaining a mortgage at Rosselkhozbank

The process of obtaining a family mortgage takes about 2 weeks and is carried out in stages:

1. Submit an application in person at the bank office or on the official website online. The next steps can be taken after a positive decision has been made to provide a loan on preferential terms.
2. Selection of a suitable real estate property. The lender allows 90 days for this procedure.
3. Valuation of real estate by a specialized organization accredited by the bank (this fact must be documented by an SRO certificate).
4. Conducting a transaction, concluding a purchase and sale agreement.
5. Opening a new bank account.
6. Signing a mortgage agreement.
7. Registration of property rights in Rosreestr, registration of a mortgage for the purchased living space.
8. Providing home insurance, as well as life and health insurance for the borrower.
9. Providing Rosselkhozbank employees with extracts from the Unified State Register and insurance policies.

Filing an application

To submit an application, you can contact the nearest branch of Rosselkhozbank and fill out the application manually, or visit the official website of the financial institution and enter all the data in a special electronic form.

The application is reviewed within 5 working days. During this period, telephone calls may be received from bank employees to clarify information or request additional documents. If a positive decision is made, the applicant will be invited to the office with an initial package of documents.

By submitting an application online, the client can use a mortgage calculator and calculate the amount of regular payments. For the reliability of the calculations, it is necessary to indicate that the application is being submitted within the framework of the “Young Family” program.

Online application for a mortgage.

Features of the agreement

When signing a mortgage agreement, you must carefully read the terms and conditions, paying special attention to the following points:

• loan amount;
• features of debt repayment: annuity or differentiated method (in the first case, monthly payments are constant throughout the entire loan term, in the second they gradually decrease);
• debt repayment schedule;
• additional bank fees or commissions;
• rules determining the possibility of remodeling an apartment and renting it out;
• the need to inform the bank about the residence of unauthorized persons or relatives of the borrower in the apartment;
• fines that may be imposed on the applicant;
• the ability to take a mortgage holiday under special life circumstances (for example, the birth of a child).

Housing loan calculation

You can calculate the loan amount using the online calculator presented on the official website of the Russian Agricultural Bank.

To do this, you need to fill in the following fields in the form:

• the cost of the real estate;
• interest rate - 4.7%;
• the period for which the loan is planned to be issued;
• form of debt repayment (annuity or differentiated);
• the amount of the down payment.

Based on the information provided, the system will calculate the final cost of the mortgage, including the overpayment, the amount of monthly payments, and the minimum income that the applicant must have (after taxes).

All calculations are preliminary. Final data can be obtained only after all documents have been submitted and the application has been approved by the bank.

Mortgage calculator.

Amortization

When applying for a loan, clients can choose a repayment method - differentiated or annuity. Funds will be debited from the account every month in accordance with the payment schedule. For example, if borrowed funds are transferred on December 12, then the monthly payment must be made no later than January 12.

Differentiated payments are beneficial to citizens whose income constantly varies upward and there is the possibility of early closure of the loan - in this case, the overpayment will be minimal, because in the first months the maximum amount is spent on interest repayments.

Annuity payments are characterized by a constant monthly payment. In the first months, the largest part of the funds is transferred to interest, and then the shares gradually equalize.

Disadvantages of a family mortgage

The process of obtaining a mortgage for young families has disadvantages:

• the need for documentary evidence of the borrower’s salary (additional sources of income are not taken into account);
• the creditor’s right to seize the collateral and terminate the contract if the client fails to comply with any conditions.

The “Young Family” program is a profitable proposal developed by the state with the aim of improving the living conditions of the population and the demographic situation in the country. You need to approach applying for a mortgage carefully; before submitting an application, you must first calculate the amount of payments and the overpayment on the loan.