Mortgage for a young family at VTB 24 in 2021

VTB mortgages for families with children with state support are one of the most profitable in Russia. A small down payment (20%) with a long loan term (up to 30 years) allows even poor families to qualify for a loan. In addition, the bank accepts maternity capital for payment and works with other types of preferential lending.

For information. The terms of mortgages with state support at VTB are regulated. All the nuances of providing a loan are described in detail here.

Basic conditions

Please note: VTB provides mortgages for families with 2 children if real estate is purchased from legal entities (under an equity participation agreement or as the first sale from a developer). It will not be possible to receive a benefit when purchasing an apartment/house from a private person. It only applies to housing in a new building.

Information! You can view the general conditions for mortgage loans on the VTB website, or.

True, there is an exception. It concerns the Far Eastern region. Here, a young family can take out a VTB mortgage with government support to purchase housing on the secondary market. And also purchase a private house and/or plot of land.

Mortgages for young families in 2021

A mortgage is a loan issued by a financial institution to a client for the purchase of real estate, long-term and with a down payment. Mortgage programs with state support for young families are developed on special conditions and allow you to save part of your personal budget and pay off bank debt faster.

By choosing VTB 24 as a mortgage lender, married couples can purchase:

Ready-made new apartments, houses;
Housing in houses under construction.
Secondary market real estate.
Finance for building a house.

A number of government programs introduced into the mortgage policy of VTB 24 will allow a young family to repay part of a housing loan or provide financial assistance in the form of a down payment.

Advantages of a mortgage for a large family at VTB

On average, servicing a mortgage loan costs 9–12%. These are the rates if you take out a loan from a large bank with the participation of state capital. In purely commercial institutions the percentages are higher. Therefore, a mortgage with state support from VTB is a significant saving for the family budget. After all, today the bank’s remuneration for using a loan is only 5%!

This is interesting! In fact, financial organizations do not incur any losses when issuing preferential loans. The difference in the standard interest rate and the reduced one is compensated by the state.

Mortgage conditions with state support at VTB:

The upper limit for the loan amount is 12 million rubles. (Moscow, St. Petersburg and surrounding areas), 6 million rubles. in other regions;
term – from 1 to 30 years;
It is mandatory to insure property, as well as life and health of the debtor.

Important! The family must have more than one child, one of them born after January 1, 2021. You will also need to pay a down payment - at least a fifth of the cost of the premises.

Maternal capital

Since 2009, a law has come into force on the right to use maternity capital received by a family at the birth of a second or subsequent children, regardless of the child’s age (previously, maternity capital could be used when the child reached three years of age).

Ownership of maternity capital gives a young family the right to repay part of the mortgage debt taken out at VTB 24 or interest charges, with the exception of fines and commission fees.

Mortgage conditions with maternity capital:

Currency	Rubles
Real estate	Construction, purchase of finished or under construction
Right of use	Both spouses
Deadline for receiving maternity capital	No more than a month
Deadline for transfer to VTB 24 account	2 months

How mortgages with state support for families work at VTB - the main questions

First of all, it should be noted that issuing soft loans is not the responsibility of the bank. Management independently decides whether to issue a mortgage from VTB for a family with two children this year and under what conditions. The bank is now actively participating in the state program. For these purposes, the Ministry of Finance allocated 106.7 billion rubles to VTB.

However, there are no firm guarantees that the VTB mortgage program for young families and large families will continue to work in 2021 and 2021. The bank may change policy, or the government will allocate funds in a smaller amount. Therefore, those families who are already eligible for benefits and have collected a down payment should hurry up.

Recommended article: Online mortgage in Sberbank and VTB: pros and cons

Insurance, assessment.

Apartment insurance is required at the expense of the borrower. The cost of insurance is calculated on the amount of the mortgage (the cost of housing minus the down payment).

Life insurance is not necessary, but without it the rate will increase by 1%. The amount for life insurance depends on many parameters: the age of the borrower, chronic diseases, etc. and in each case is individual. You can cancel life insurance within 14 days from the date of conclusion of the contract.

To obtain a mortgage from VTB at a rate of 5% per annum, a home appraisal is required.

VTB mortgage with state support - how long does the preferential rate last?

Initially, the law had restrictions. The preferential interest rate was valid for 3 or 5 years. But today the time limits have been lifted. The reduced interest rate is valid for as long as the loan is repaid (changes have been made). The number of minor family members does not matter (the general rule is at least 2 children).

Important! In 2021, changes were made to the law, according to which the reduced rate is valid for the entire loan term.

Repaying a VTB mortgage loan

The loan must be repaid in equal installments, once a month. The payment can be made without commission on the VTB Online service website, at an ATM, terminal, or set up automatic debiting from the card. If you want to make a payment at a bank office, remember that amounts up to 30,000 rubles are subject to a commission .

Early repayment. You can pay off your debt early without commission at any time. To partially repay the debt, you can use maternity capital. To do this, contact your nearest branch.

Russian Pension Fund at the place of registration. Submit a request for a certificate from the Pension Fund of the Russian Federation and an application for early repayment. You can download application forms on the VTB Bank website. Please note that if during registration you chose the option of two documents (“Victory over formalities”), maternity capital cannot be used.

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Sample certificate for the Pension Fund.

6% or 5%

Initially, the figure was 6% in the press and in comments by officials. But today the numbers differ from bank to bank. This happens because 6% is not a fixed, but a floating figure. Banks are compensated for the difference between the key rate of the Central Bank and the rate under the monetary policy agreement. If the Central Bank decides to raise the rate, financial institutions will also raise it.

We emphasize that at VTB, a mortgage with state support at 5 percent is valid subject to a personal insurance policy. If you refuse to take out life insurance, your rate may be higher.

Important to know: What happens if you don’t take out mortgage insurance?

VTB rates for 2021

The level of interest on mortgages for young families at VTB 24 in the context of existing loan programs is as follows:

program “Mortgage. Housing under construction” – from 8.4% with a down payment of 50%;
program “Mortgage. Ready housing” – from 8.4% with a down payment of 50%;
mortgage with state support - 5% per annum (subject to personal and property insurance) for the entire loan term.

The bank can apply discounts to the given values:

– 0.3 p.p. – for salary clients or borrowers belonging to the category of budget employees (doctors, teachers, scientists);
– 0.6 p.p. – when applying for a credit card (VTB Multicard);
– 0.5 p.p. – when purchasing a home with an area of more than 65 square meters. m. (as part of the special offer “More meters - lower rate”).

Potential allowances:

+ 0.5 p.p. – when applying for a loan using two documents;
+ 0.3 p.p. – for standard categories of clients not related to business people and participants in VTB salary projects;
+ 1 p.p. – when applying for a mortgage without full insurance of the property and the borrower.

How to apply to VTB for a preferential mortgage for families with children - procedure

First, you should go to the website of the financial institution and study the conditions. Then apply online or contact the mortgage center directly. It is also advisable to read the Grant Rules set out in Decree 1711 and calculate the upcoming costs.

Note! A mortgage calculator with state support from VTB will help you see real numbers. Unlike many lending institutions, it actually calculates the loan taking into account the discount. The program automatically sets a condition - there is more than 1 child in the family.

To calculate a VTB mortgage with state support, you need to fill in the cells of the online calculator:

cost of living space;
down payment (in rubles);
the amount of your monthly income (you can take into account the income of 4 co-borrowers).

The required numbers will appear in the blue window on the right. But you should always keep in mind that the calculation on the VTB mortgage calculator for a young family is preliminary. When concluding a DCT agreement, the conditions may change.

Registration process

A young family will have to go through the following steps:

Collect the necessary documents listed above.
Go to the bank and submit documents.
Wait for approval from the bank within 3-5 days.
The property chosen by the borrowers must be satisfied with the bank's appraisers.
Make a transaction with the bank, in particular, insure liability.

Filling out an application

An application for a mortgage loan is submitted to the bank. The application must indicate:

FULL NAME.
Date of Birth.
Contacts: email, mobile phone.
Consent to the processing of personal data.
Employer's TIN.
Average monthly family income.
Work experience and total work experience.
Loan details:
city of receipt;
region of real estate acquisition;
type of property and its value.
Indicate the down payment, loan size, and term.
Documents: passport details.

The application can be submitted on the official VTB 24 website or in the office in person.

Drawing up a mortgage agreement

When drawing up a mortgage agreement, you need to pay attention to the fact that additional documents may be required:

A copy of the certificate of temporary registration of the borrower or guarantor.
Certificate for receiving “Maternity capital”.
Documents that will confirm the credit history of the borrower or guarantor.
Brief information about the borrower's occupation (assuming the company does not have a website).

Depending on the chosen program, VTB 24 has the right to require additional documents confirming any item from the young family.

Read more about how to get a mortgage under the “Young Family” state program in our material.

VTB family mortgage with state support - calculation example

Let's say an apartment costs 1 million rubles. 200 thousand rubles. (20%) will have to be paid as a down payment. A loan is issued for the remaining amount. If you take 800 thousand rubles for 30 years, you will have to pay 4,295 rubles from your personal budget every month. For comparison: without benefits, you will have to pay 8,893 rubles monthly for the same loan (at a rate of 10.6%).

Important! The longer the loan term, the lower the monthly payment, but the higher the total overpayment. When calculating the period, you will have to focus on the real income of the family. If you have a limited budget, it is better to choose a longer period.

Requirements

Requirements for the borrower. Since VTB does not provide a special product for young families, all families with a second child can take advantage of a mortgage taking into account maternal capital. The standard requirements for obtaining a mortgage loan apply:

age from 18 years;
official employment in Russia;
total work experience of at least one year;
The place of registration does not have to be in the same city where the housing is purchased.

Required documents. First of all, fill out an application, which can be downloaded on the bank’s website. It must be filled out by hand in block letters or sent online. In addition to the application, provide the following documents:

Russian passport;
SNILS (pension insurance certificate);
TIN;
certificate confirming income;
photocopy of work record book or extract;
military ID (men under 27 years old);

If you plan to use maternity capital, provide the bank with a certificate and a document from the Pension Fund, which will confirm information about the balance of funds. After approval, do not forget to contact the Pension Fund so that the funds from the certificate can be used to pay off the mortgage.

To use a housing certificate under any current government support program, attach it to the package of documents for the bank. Once your application is approved, you can begin searching for suitable real estate.

To confirm income, you can provide a certificate in form 2-NDFL or in the form of a bank. A tax return for the most recent year may also be provided. You can take into account wages from two places of work: main and part-time.

Certificates on the bank form can be found on the official VTB website. Persons participating in the VTB salary project do not need to confirm income. If you attract guarantors to increase the available amount, they also need to provide a full package of the documents listed above.

The bank may ask you to provide additional certificates and documents (about marital status, education, work activity, credit history).

Sample certificate of income according to the bank form.

VTB Bank - mortgage with state support: documents

To apply for a loan, you will need passports and birth certificates of all family members (small and large). In this case, the applicant must certify to the bank that the children have Russian citizenship. In addition, you will have to provide the mortgage center with:

a certificate in the form and/or - if there are co-borrowers, each of them provides documented information about income;
SNILS;
a copy of the work book;
marriage certificate (for spouses officially registered in the registry office);
military ID (for those liable for military service).

Note! An individual entrepreneur attaches to the package the latest annual declaration submitted to the tax authority.

Since the bank receives compensation from the government, the document requirements are more stringent than usual for mortgage lending. And yet there are concessions. The client is not required to indicate permanent registration in the region where he plans to take out loans. It is also possible to get a loan without proof of income.

VTB 24 Bank offer

VTB 24 Bank is officially one of the largest in Russia; it supports many government programs, primarily providing housing to young families.
The bank's branches are located in many cities across the country, and the mortgage terms offered are the most favorable.

Young families can count on an individual approach to each situation, as well as the use of government support.

VTB 24 Bank issues most mortgages for apartments in new buildings, but it is possible to purchase housing on the secondary real estate market.

VTB – mortgage refinancing with state support

What should those who meet all the conditions, but have already taken out a mortgage loan at a higher interest rate, do? Apply for refinancing! Moreover, the loan can be issued at another institution or directly at VTB. In the latter case, you do not need to go through the entire refinancing procedure. It is enough to submit an application to change the terms of the loan through the call center.

At VTB, refinancing mortgages for large families has its own specifics. The institution willingly lends to other people's borrowers (from other banks), but sometimes refuses to lend to its own. Thus, young mothers are faced with the fact that the bank refuses to refinance families at a low interest rate if the woman is on maternity leave and cannot provide a salary certificate. In this case, you have to re-issue the loan to your working husband so that he becomes the title borrower.

For on-lending, in addition to the standard set (SNILS, 2-NDFL, passport), you must provide the following papers:

housing documents issued within the framework of the Law;
old policy and insurance contract;
statement of the balance of the debt.

Important! For borrowers who previously took out a loan from VTB with government support, but on less favorable terms, a special additional agreement will be drawn up from August 12, 2021. You don't need to go through the entire refinancing process.
It is enough
to submit an application to change the terms of the loan through the office or call center.

Property selection

VTB Bank does not impose strict requirements for borrowers regarding the selection of real estate and the involvement of real estate organizations in the search process, which simplifies the procedure for obtaining a mortgage both for a young family and for bank employees. From the legal side, the apartment will be checked by both the bank and the insurance agency.

Clients have the right to choose housing on their own, but if they wish, they can use a special VTB real estate catalogue . By purchasing real estate from bank partners, the borrower receives additional privileges when applying for a mortgage.

VTB provides freedom of choice of housing throughout the Russian Federation. The future living space may be located in a different locality from the one where the clients live and work. The mortgage is issued at the borrower’s place of work, and the loan is issued in the city where the property is purchased.

VTB Bank – mortgage for large families and maternity capital

The ideal option for the borrower is to combine all benefits from the state in one loan. And Russian families have such an opportunity. In particular, Resolution 1711 provides for partial payment of the down payment with maternity capital (MC) and its use for on-lending.

Note! According to VTB rules, the first payment cannot consist entirely of maternity capital funds. The borrower's personal funds are required (at least 10% of the cost of housing).

If you want to use MK as a down payment or apply to VTB for refinancing a mortgage with state support, you must provide a certificate from the Pension Fund about the remaining capital and the corresponding certificate.

Take note: large families are supported not only at the federal level. There are many regional subsidy and financial incentive programs. Before applying to VTB for a mortgage at 5 percent for families, check the availability of programs for beneficiaries with local authorities. You may be entitled to:

non-repayable loan;
regional maternity capital;
social housing (then the state will compensate not only part of the mortgage interest, but will pay it off in full).

Important! Parents of children with disabilities, government employees, and families who are in line to improve their living conditions can count on comprehensive support from the state.

Advantages and disadvantages

The advantages include:

The existence of special offers to support young families, including the use of benefits intended for them.
Interest rates are lower compared to other banks.
Availability of VTB 24 offices throughout the country.

However, there are also disadvantages that can be noted:

You need to read the contract carefully to identify any additional costs.
Monitor payments carefully.
Until the amount is fully repaid, the property remains in the ownership of the bank.

Does VTB give 450 thousand for mortgages to large families?

The President of Russia has repeatedly emphasized that parents raising more than 3 minor children will receive an additional loan to pay off the mortgage loan. In June 2021, a law was passed according to which a family with 3 or more children can receive 450,000 rubles from the budget and use it to pay off the loan.

The scheme is as follows: the borrower contacts the bank and writes an application. The bank requests Dom.rf, the latter verifies information about the birth of a third or subsequent child. If it is confirmed, the funds are used to pay off the mortgage. The person being credited does not receive this money and does not open any accounts. The money is transferred to the creditor bank automatically.

Interestingly, the Law provides for the issuance of 450 thousand rubles if the third (fourth, fifth, and so on) child was born after January 1, 2021. If three or more children were born before the specified date, the loan is not issued. The loan agreement must be concluded before July 1, 2023.

Important! The law has only just come into force. The mechanism is not yet working, and there are no real reviews of this type of state support. There is also no official information on the VTB website. But it should appear on the bank’s official page in the very near future.

450 thousand rubles are issued only once for only one loan. If the mortgage debt is greater than the specified amount, it will be paid to the bank in full. If it is less, they will pay only the real amount of the debt, including interest. Thus, if a family has 2 housing loans, you need to repay the one with the larger debt.

Note! A loan of 450 thousand has nothing to do with maternal capital. This is a targeted payment for mortgage borrowers with many children. They have every right to use both subsidies to repay the loan. And thus save 953 thousand rubles.

Answers to frequently asked questions about 450,000 can be found in the article: How large families can get 450,000 to pay off their mortgage

Bank conditions in 2021

In 2021, VTB 24 offers young families the opportunity to get a mortgage and purchase their own home under 3 programs with government support.
Young families can qualify for low interest rates on mortgages and repay the down payment using a housing certificate or maternity capital funds.

Maternity capital in 2021 is set at the level of previous years and amounts to just over 450,000 rubles, and subsequent indexation is also expected.

If the necessary requirements are met, the mortgage term can reach as much as 50 years.

Useful video:

Reviews about mortgages with state support at VTB

There are always a lot of complaints about banks with a large number of clients. Borrowers traditionally complain about queues, the appearance of additional insurance during the contract signing process, and the incompetence of staff. Nevertheless, VTB is one of the three leaders in the field of preferential housing lending and works with almost all government programs. And loyal prices for loans are largely explained by savings: on convenient software, customer comfort and employee salaries.

In positive feedback, many note the fact that a potential borrower has the opportunity to calculate a mortgage at VTB for a young family using a calculator. While other financial institutions have calculation programs with standard settings - without taking into account preferential rates. They also note the convenience of ways to repay a loan taken (through a special card).

In general, the institution’s clients appreciated the fact that VTB’s interest rate on mortgages for a young family with children dropped to 5%. After all, even 1% on a mortgage loan is a significant savings for the family budget.

Registration procedure

In order to avoid the chaotic collection of papers and unnecessary fuss, it is advisable for a young family to first inquire at the VTB 24 office about what documents must be collected to draw up a mortgage agreement.

How to fill out an application for a mortgage at VTB 24 Bank?

The list of documents for a young family is standard, but bank employees may require additional copies or originals of certificates, acts, etc.

A completed application form.
Russian Federation passport of the borrower, and if provided for in the agreement, also of co-borrowers.
Certificate of income in the appropriate form.
Marriage certificate.
A notarized photocopy of the work book.
Birth certificates of existing children.

After the required set of documents has been collected, the young family submits an application for a mortgage in the office, on the website, or by calling the VTB 24 bank hotline. The application will be reviewed within three working days. The young couple can only wait for a positive response and come to the bank to conclude a transaction.

You should carefully read the mortgage agreement, paying attention to the conditions for changing the interest rate, in the situation of early repayment of debt, the presence of late fees and other nuances, ignorance of which can lead to misunderstandings.

conclusions

VTB takes a leading position in issuing loans to various categories of beneficiaries. Since January 1, 2021, more than a thousand families have received mortgages with state support from VTB for families with children. The bank is also actively refinancing already issued loans at a new, lower rate.

Before contacting a bank, study the legislation, read reviews, and consult with an experienced lawyer. Then you can get a loan on favorable terms, save money on repairs, education and raising children.

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Author:

Mortgage specialist Maria Yurievna Sokhan

Date of publication September 17, 2019 September 17, 2019

Program conditions

Mortgage conditions for the newly formed “cell of society” from VTB 24 in 2021 are extremely advantageous and convenient.
To participate in the program, a young family is forced to meet the required criteria:

Apply for the purchase of real estate with a living area of no more than 42 sq.m. – married couples without children can. Living area based on 18 sq. m. per person is provided for families consisting of three or more people.
A married couple who feels the need to increase or purchase their own home due to its absence or unsuitable living conditions in the existing one.
Standing in the housing queue.
Be citizens of the Russian Federation under the age of 35.
Able-bodied persons are required to provide documentary evidence of financial solvency, guaranteeing that the young family is able to bear subsequent material costs of the mortgage.

A family with a certificate received under the state program should contact the VTB 24 office to calculate and select further mortgage lending options.
You can calculate a mortgage remotely using the calculator that the official VTB 24 website offers for its clients, but these will only be approximate figures.