Decree of the Russian Federation on mortgage interest rates. Myths about preferential mortgages for families with children

In preparation for his next re-election, the current Russian president at the end of 2017 announced several new measures that would really be useful for many families and would appeal to voters. In particular, it was the first person who was entrusted with announcing government developments to increase the birth rate in the country. The situation with demographics in Russia is truly unsatisfactory, and the maternity capital program alone, especially in the form in which it has existed all these years, cannot be done. Among the new products, in particular, we can note the appearance of which we talked about a little earlier. Another innovation is preferential mortgages for families with children. What does the new law say about mortgages at 6 percent in 2018, who can qualify for such a benefit, and how to get it.

Preferential mortgage at 6 percent per annum in 2018 - who can get

Just last week, the Russian government finally formulated the details of the preferential social mortgage, which will be introduced in 2018. Before this, only the main essence of the program was known, but there were no explanations for ministries and banks regarding the mechanism for financing preferential mortgages. Now the mechanisms are spelled out, and families have the opportunity to begin applying for a new loan on preferential terms or for refinancing a previously taken loan.

Which family has the opportunity to get a preferential mortgage at 6 percent under the new law? The following conditions must be met:

• starting from January 1, 2018 and until December 31, 2022, a second or third child must be born in the family,
• the family takes out a mortgage to purchase an apartment in a new building (or refinances a previously taken out loan, but the apartment also had to be purchased in a new building).

The essence of the preferential mortgage program in this case is that the family will make payments on the mortgage loan at the rate of 6% per annum for some time (more on this below). Any excess interest will be paid by the state.

For example, if a bank offers a loan at 11% per annum, then you pay 6%, and the remaining 5% will be contributed by the budget for you.

Will the benefit be valid for the entire period for which the loan was taken out?

No, the government will not always help you with your mortgage. If you have a second child, the benefit will apply three years after the start of payments or after the start of the refinancing period. If the child is the third, then state support will continue five years.

Please note that you can receive benefits in this way for a total of eight years. This is not forbidden at all. Just an example - your second child was born on July 1, 2018, and on September 1 you took out a preferential mortgage at 6 percent. For three years, until September 1, 2021, the state will help you pay interest on your mortgage loan. Then the assistance should stop, but if around the same time, in August-September, you have a third child, the benefit can be extended for five years due to his birth. The state will subsidize your mortgage interest until 2026.

However, you need to understand that since the state does not intend to subsidize your mortgage loan permanently, you need to be more careful when choosing a bank and the terms of the loan. Even if for the first 3-5 years you won’t care much about what interest rate you took out the loan at, after that the payment of interest will fall entirely on you, which is something you need to remember now.

Are there any restrictions on the cost of new housing?

Eat. The program can only be used if the housing you have taken on a mortgage costs no more than three million rubles. For Moscow, St. Petersburg, Moscow and Leningrad regions, the amount is higher - eight million rubles. This is due to the high cost of real estate in these regions.

In principle, such a restriction is quite reasonable, and for the specified amounts a family can purchase at least a two- or even three-room apartment in their region.

Of course, no loans in foreign currency are allowed in this case.

How relevant is the new law on preferential mortgages?

The novelty, apparently, is quite relevant. At least according to the government. Reportedly, according to opinion polls and studies that have been conducted, approximately 620 thousand families are ready to take out a mortgage on such conditions, and another 630 thousand who have already taken out mortgage loans are ready to take advantage of the opportunity to restructure it at 6 percent.

Based on these data, the Ministry of Construction calculated that the program of preferential mortgage lending will cost the Russian budget 600 billion rubles. The Ministry of Construction did not specify whether this means 2018 or the entire period of the program.

What if mortgage interest rates in Russia decline?

Indeed, in the last couple of years there has been a decline in mortgage rates. Thus, in 2017, for the first time in history, the cost of mortgages decreased on average across the country to below 10%. Against the backdrop of record low inflation and the Central Bank’s constant reduction of the key rate (and interest on any loans depends directly on it), it is quite reasonable to expect standard mortgage rates to continue at the same 6 percent in the coming years if this trend continues.

The Ministry of Construction itself believes that such a situation may arise by 2022, and after that the need to subsidize loans for young families will disappear on its own.

At the same time, independent analysts believe that mortgage rates of 6 percent can be expected much sooner.

Obviously, if in two or three years mortgage interest rates in Russia drop to six percent for everyone, the government will think about making the preferential interest rate for families with children even lower. However, it is too early to talk about this. At the beginning of 2018, the average mortgage rate is just below 10 percent, and a 6 percent loan is a pretty good deal.

State subsidies are a necessary measure to improve the standard of living and provide benefits for certain categories of the population. The bill, which came into force at the beginning of 2018, offers benefits for the issuance of funds with a reduction in the base interest rate to 6%. Mortgage since 2018 - Putin’s decree for families with two children, aimed at improving the demographic situation and increasing sales of primary and secondary housing. The validity period coincides with maternity capital, making the use of both tariffs profitable.

In this material we will look at:

• description of the signed bill with consideration of its features;
• conditions for receiving subsidies and a list of required documents;
• validity periods, list of property available for purchase;
• customer reviews based on real experience with the service in 2019.

Mortgage conditions at 6% for the birth of 2 or more children in 2019

Resolution No. 1711 came into force on December 30, 2017, and as of January 1 of the new year, persons who meet the established requirements can begin obtaining financing on preferential terms. To borrow money to purchase housing at 6 percent interest, the client must meet the following requirements:

• you must have had 2 or 3 children since the bill came into force;
• the purchased housing must meet the established requirements;
• if you are already a mortgage client of one of the banking organizations, but in the new year you had a child, apply for refinancing and receive subsidies.

The proposal is aimed at increasing the demographic level and well-being of residents. 600 billion rubles have been allocated for this purpose, which will provide additional funding to more than 500 thousand residents of Russia.

As with any new bill, it is worth first studying the specifics of providing benefits, which will allow you to get the maximum benefit.

According to Putin's decree, mortgages from 2018 to families with one child

You can use the subsidy only after the birth of 2 or 3 children, but this does not impose additional restrictions on childless families and families with one child. You can always apply for a loan in accordance with the basic conditions, but if a child is born no later than December 31, 2022, you have the opportunity to submit a request for refinancing. A 6 percent mortgage rate in 2019 becomes available to this category of clients.

Reducing the overall financial burden on a young family is achieved through monthly payments. The subsidy period is 3 years or 5 years, depending on the number of children.

Who, according to Putin’s decree, will take advantage of mortgage subsidies at 6%

Having analyzed the draft law in detail, we can distinguish the following categories of clients:

• if you do not have children, but are planning to give birth before the end of the promotion period. In this case, it is possible to obtain a favorable loan rate using maternity capital or refinance the current one;
• the birth of a second child will contribute to a three-year period for the payment of government subsidies;
• the third child is accompanied by 5 years of financial support.

The principle of payment of funds is quite simple: despite the basic tariff of the offer used, the state covers additional interest payments and leaves only the established 6% to the payer. Upon expiration of the decree, you will have to pay the full amount, which is specified in advance in the service agreement.

The service does not affect other measures to support financial status at the birth of a child:

• additional benefit in case of monthly income below 1.5 subsistence level;
• working with maternity capital: the possibility of making a down payment using budget funds, receiving cash and other financial transactions;
• expansion of areas where funds from maternity capital can be directed.

Mortgage rate reduction to 6 percent for families with 2 children

In the above sections, we have already considered the requirements from categories of people who want to receive additional funding. A financial loan can be obtained not only from an accredited Russian bank, but also from JSC AHML. The principle of further action is the same in all cases:

1. You choose the most suitable tariff plan that will satisfy your needs. Having a debit card with such a bank will be a good bonus for you, which helps reduce the classic interest rate;
2. The financial restrictions are as follows: residents of Moscow, St. Petersburg and their regions - 8 million rubles, other regions - 3 million rubles. Make sure your requests meet these requirements;
3. The down payment must be at least 20% of the value of the purchased property. Registration of collateral and purchase insurance is also included in the list of mandatory requirements;
4. Work is supported exclusively with the annuity form of payments. Discuss this issue in advance with a qualified specialist from a banking organization;
5. Proceed to collect all necessary documentation and submit your request. If everything is done correctly and you receive a positive response, you can contact the relevant government agency to obtain the opportunity to reduce the interest rate by paying subsidies.

Considering the mortgage tariff, since 2018 Putin’s decree has significantly improved the conditions. Some clients have already taken advantage of the promotion and received a reduction in monthly payments.

Possible nuances

When working with modern government applications, potential clients may encounter some nuances and difficulties during registration. Let's look at the most common problems and their solutions:

• If you use mortgage lending and fall under the “with 2 children” requirement, do not rush to apply for refinancing. Benefits will be provided only if the child was born in 2018;
• Separate requirements have also been established for the purchased real estate. We will consider this issue in detail in the next section;
• Unlike the similar “Young Family” tariff, in this case there are no age restrictions and specific compensation amounts. Only the duration of the subsidies is limited;
• the birth of twins is not taken into account separately. So, if this is the first and second child, the validity of the offer is 3 years. If twins were born as the second and third child, the duration of preferential payments expands to 8 years;
• nothing is indicated about the birth of the fourth child, since parents can receive maternity capital for its further disposal;
• the program is relevant in all regions of Russia.

By Putin's decree - mortgages on the secondary market for families with two children from 2018

Additional study requires the question of possible real estate for purchase, which will be subject to a mortgage from 2018, Putin’s decree for families with 2 children. The following mandatory criteria can be identified:

• Only primary housing is available for purchase. Secondaries do not participate in the program;
• registration must be carried out according to the contract form 214-FZ;
• the document confirming the transaction must be a purchase and sale agreement;
• Only a legal entity can act as a seller; transactions with individuals are prohibited;
• investment funds, management companies and other similar organizations do not participate in the promotion. Such deals are accompanied by additional discounts that are not taken into account when working with the state program.

You won't be able to get benefits on the secondary market. Here you can save money solely by using mat. capital. This issue requires additional study and can be clarified by a qualified support specialist of the banking organization. Taking out property and life insurance is a prerequisite.

Which banks can I apply for?

As discussed earlier, the list of banking organizations includes all certified companies that offer to take out a loan for the purchase of real estate. There are several leaders here:

• Alfa-Bank is a large private bank capable of satisfying the needs of its clients. A large number of service offices and favorable rates are complemented by many positive reviews;
• VTB 24 stands out for its most profitable line, which can reduce the interest rate to 9.2% if all established requirements are met;
• Sberbank is the largest domestic banking organization that is in demand and trusted. The company is one of the first to use the latest legislation in its work.

Until 2018, there were many mortgage offers in Russia for large families from different banks, including Sberbank. On average, mortgage interest rates for a young family were 7.5-10.5%. At the moment, there is a new program proposed by the state - a mortgage for the 2nd and 3rd child at 6% in 2018. Conditions for families in which a second and third child is born are now more favorable.

This program is aimed at stimulating the birth rate and helping families solve housing problems.

Terms of mortgage lending for a second and third child in 2018

By decree of the President of the Russian Federation Vladimir Putin, a decree was signed to launch a program of assistance in mortgage lending to families where a second or third child is born in 2018.

According to the terms of this program, families that meet the requirements will be able to obtain a mortgage for their primary home, as well as refinance on terms 6% per annum. That is, if a bank offers a mortgage at 10%, the state will pay 4%.

Details on the conditions of receipt

Under the terms of this state program, the following families will be able to receive mortgage support at 6% or refinancing at 6% of their existing one (received before 2018 and after):

• in which the 2nd and 3rd child is born after January 1, 2018. Accordingly, families in which 2 or 3 children were born previously January 1, 2018 under the program don't hit;
• having a mortgage, at the birth of 2 and 3 children after January 1, 2018, will be able to refinance at 6% (the rest of the interest payments will be covered by the state);
• parents of any age (not to be confused with the “” program, where parents under the age of 35 can become participants);
• those who already have a mortgage and make payments on it in accordance with the established procedure.
• provided that it is issued.

Amount and duration of subsidies

The maximum amount of preferential mortgage lending at 6% - up to 8 million for Moscow, St. Petersburg, Moscow and Leningrad regions and 3 million for other cities of the Russian Federation. At the same time, the down payment on the mortgage must be at least 20% of the total cost of the purchased home.

The subsidy period is 3 years for the second And 5 years for third child. At the same time, if state support (6%) has already been received for the 2nd child for 3 years, and subsequently the 3rd is born, then the subsidy can be extended for another 2 years (total period 5 years).

According to the terms of subsidies for the 2nd and 3rd children, preferential lending (and refinancing of existing ones) is limited 3 and 5 years old. Subsequent payments will be calculated according to general bank lending conditions. It is possible that the program will be extended in the future.

In 2018, Sberbank, in addition to the existing one, can provide a loan for the construction and purchase of housing on the primary market (new building).

This program does not apply when purchasing housing on the secondary market.

How to get a mortgage from Sberbank at 6%

The conditions for providing a mortgage are the same as for the regular program:

• applied (as for a regular mortgage);
• documents confirming the birth of the second (third) child;
• The bank reduces the interest rate to 6%.

Mortgage refinancing

If a mortgage was obtained earlier, at a standard interest rate for young families, and a second (third) child is born, then you can submit birth certificates to Sberbank. The bank will pay off the existing mortgage at 6% per annum.

Young Family Program

An advantage when obtaining a mortgage from Sberbank for borrowers with many children can be the bank’s “Young Family” program. Parents under 35 years of age have the right to use it. At the same time, the state can pay off up to 30% of the cost of housing. About this - in. According to this program, you can take long credit holidays (up to 3 years), which consist of paying only interest, that is, the principal debt does not have to be repaid. It is also possible to slightly extend the loan term.

All conditions for preferential lending for the 2nd and 3rd child

All conditions and details on preferential lending for the second and third child are in.

Consultation on individual issues and clarification of conditions

If you have individual questions about the provision of subsidies, you need to contact the local authorities (administration) in person or by calling the hotline.

You can also consult the bank about loan terms.

Mortgage calculator

On the domofond website page there is an online calculator for calculating a mortgage according to specified parameters.

Families in which the second or third child was born during the period have the right to apply for a mortgage at a reduced rate - 6 percent per annum. To obtain a loan or a loan on preferential terms, it is necessary to comply with a number of requirements, for example, residential premises can only be purchased on the primary real estate market. To participate in the program, you just need to contact the bank, then the credit institution will independently submit an application to the Ministry of Finance.

According to Government Decree No. 1711 of December 30, 2017, upon the birth of a second child, the subsidy period will be 3 years, when a third child appears, subsidies from the state will be provided within 5 years.

At the birth of the 4th child, a reduction in the interest rate is not yet provided.

However, on June 7, 2018, Vladimir Putin said that the terms of the subsidy, those families in which there will be 4th child and subsequent children. According to the president, expanding the program will cost 9 billion rubles.

Conditions for subsidizing a mortgage

Conditions for providing a subsidy to repay obligations on a housing loan or loan:

1. The birth of a second or third child during the duration of the program, that is from January 1, 2018 to December 31, 2022. Children who were born into the family in 2017 do not qualify for a subsidy. The program does not yet apply to the fourth and subsequent children.
2. Credit or loan must be received after January 1, 2018. Government subsidies are not provided for the payment of mortgages issued before this date.
3. An apartment or house can only be purchased in the primary real estate market, and this may be housing that has already been put into operation, or has not yet been completed.
4. The size of the loan or credit should not exceed:
   • 8 million rubles- if the housing is located in Moscow and the Moscow region, as well as St. Petersburg and the Leningrad region;
   • 3 million rubles- if real estate is purchased in any other region of Russia.
5. The borrower must pay at least 20 percent of mortgaged real estate. For this purpose, it is allowed to use funds allocated from the state or regional budget, including money.
6. Conclusions are required personal insurance agreement, as well as insurance of residential premises after registration of ownership rights to it.
7. The mortgage must be repaid in equal payments over the entire term of the loan or loan (not counting the first and last month) without further increasing the loan debt. The amount of the annuity payment can be changed only if this is provided for in the contract.

How to get a mortgage at 6 percent in 2018?

To apply for a preferential mortgage, it is enough to contact a credit institution or the joint-stock company “Agency for Housing Mortgage Lending” (AHML); the borrower does not need to coordinate the subsidization with any other authorities. Over the next 3 or 5 years, the government will provide subsidies to the bank (or other credit institution).

Deductions from the federal budget will be made in the amount of the difference between the amount key rate of the Central Bank of the Russian Federation(Central Bank of the Russian Federation) on the 1st day of the month for which the subsidy is paid, increased by 2% , and the rate established by the agreement (credit or loan) in the amount 6% per annum.

• If the family has taken out a mortgage after January 1, 2018, and then a second child appeared in it - that is, the right to receive a subsidy from the state arose, then this loan or loan can be refinanced.
• If parents already receive subsidies from the state in connection with the birth of a second child, and during the period of the program (from January 1, 2018 to December 31, 2022) third child, then the rate of 6% will be set for another 5 years from the moment the subsidy for the second child ends.

Upon expiration of the preferential lending period, the mortgage will be repaid by the borrower at a rate not exceeding the key rate of the Central Bank, increased by 2%, which was set at the time the loan was issued.

For example, if the borrower entered into an agreement at a rate of the Central Bank of the Russian Federation equal to 7.25% (current value as of April 27, 2018), then after 3 or 5 years the rate cannot exceed 9.25%.

Mortgage rate reduction in 2018: latest news

On June 7, 2018, Vladimir Putin instructed the Government to expand the program to reduce mortgage rates to 6 percent upon the birth of a second or third child. Answering questions from citizens as part of the “Direct Line”, the President said that the right to subsidize a loan or loan will be provided to families also at birth fourth and each subsequent child.

The head of state promised that the wording of the resolution would be clarified, while emphasizing that the decision to provide mortgages on preferential terms only at the birth of a second and third child is erroneous and needs to be corrected. Funding in the amount of 9 billion rubles. According to the president, this is not such a large amount to reduce the annual rate for children with many children.

The head of a large family raising three children approached Vladimir Putin with a request to change the subsidy program. Previously, the family had already taken out a mortgage at 13%, and according to the current rules, they are not given the right to reduce the rate to 6% upon the birth of their fourth child, since the resolution only refers to the second and third child born after January 1, 2018.

Children's mortgage is a special mortgage program for families with children, in which the state pays the credit institution the difference between the actual rate and 6%.
That is, if the actual rate at the bank under the mortgage program is, for example, 9.75%, then the bank will be reimbursed 3.75% from the budget.
From this article you will learn the conditions for participation in this program and what package of documents you need to provide.

Banks have finally developed their programs for issuing mortgage loans to families with children at 6%.

The program will run until December 31st. 2022 for borrowers who will have a second or third child during this period.

Moreover, at the birth of a second child, the 6% rate will be valid for three years.

At the birth of the third child - five years.

The loan term is up to 30 years.

Down payment - from 20%, funds Maternal (family) capital can be used as a down payment

Package of documents for children's mortgage

The package of documents is standard:

1. Passport (copy of all pages)
2. Work book (a copy certified by the employer with the note “currently working”)
3. Certificate 2-NDFL (for the last 6 months) with accruals for the last full month
4. Marriage certificate (copy)
5. Application form for a loan secured by purchased housing
6. Plus originals birth certificates for all children.

At the same time, if the children’s birth certificate does not contain information about their Russian citizenship, the simultaneous provision of another document confirming all children have citizenship of the Russian Federation.

All documents can be submitted electronically, scanned copies or high-quality photographs.

The co-borrower provides the same package of documents.

At the time of signing the Loan Agreement, you must provide the originals of all documents that were transferred electronically.

EXACTLY THESE, if the issuance dates are different, they will not be accepted from you and they will refuse to issue a loan!

Therefore, do not lose the original package of documents (2-NDFL, a copy of the work book certified by the employer)

Required for everyone:

• Russian passport.
• Your current photo (portrait, selfie) - a photo taken on a phone is quite suitable.
  Download photo requirements

If you are an employee: A certified, recent copy of your work record can be obtained from your employer’s HR department. Please note that your signature is on the title page of the book.

If you want to document your income:

• Certificate 2-NDFL for the last 6 months - can be obtained from the human resources department or from the accounting department of your employer. Pay attention to the correctness of your registration address and current passport information in the certificate;
• Or a certificate on the Bank form - ask your employer to fill it out.
  Download sample.

If you do not want or cannot document your income:

• Military ID;
• Driver's license;
• International passport;
• Serviceman's ID;
• Federal government employee ID.

If you are an individual entrepreneur, notary or lawyer:

• Tax return;
• Certificate of state registration of individual entrepreneurs. For a lawyer - a lawyer's certificate. For a notary - an order of appointment to a position (scan or photo of the original or a notarized copy);
• License if available (scan/photo of original or notarized copy).

If you are married: Marriage certificate.

If you have children under 18: Birth certificate for all children under 18

Children's mortgage from Sberbank

Each bank develops its own mortgage program as part of this project, and these programs may differ slightly in different banks.

Let's take a closer look at the program from Sberbank. Full title: “Mortgage with state support for families with children.”

Children's mortgage at 6% is designed for the purchase of finished housing - apartments, houses, “town houses” from legal entity or participation in shared construction of such housing.

Reduced interest rates on previously issued loans

The Bank is currently considering the issue of refinancing previously issued loans on subsidized terms.

Children's mortgage. Who is eligible to receive a loan

The following have the right to receive a loan under the program “Mortgage with state support for families with children” upon the birth of their second and/or third child starting from 01/01/2018 and no later than 12/31/2022:

• Citizens of the Russian Federation who are married, at the birth of their second and (or) third child who has Russian citizenship
  The spouse must be included in the number of co-borrowers.
  The spouse of the title co-borrower is not included in the list of co-borrowers only if there is a marriage contract establishing a regime of separate ownership of the property of the spouses.
• Citizen of the Russian Federation, Not who are in a registered marriage and at the birth of their second and/or third child who has Russian citizenship.
  The loan can be received by one of the parents; there is no requirement to include the second parent among the co-borrowers.
  A joint loan for such parents can be obtained by choosing the parent of the second and (or) third child as the title borrower
• A single mother can get a loan if she meets the bank’s requirements, including solvency

Children's mortgage six percent. Who is NOT eligible for a loan?

• Parents who do not have Russian citizenship
• Citizen of the Russian Federation, whose spouse (parent of the child) is not a citizen of the Russian Federation

Children's mortgage. Special conditions and clarifications

• The 6% rate is established subject to the borrower concluding a life and health insurance contract. Insurance can be obtained from any accredited company
• If the borrower has a second and third child born at once, the preferential rate is set for 5 years
• In the application form, you must indicate “State support” or “GPS”. This note must be placed in the upper right corner of the first page of the application form.
• The limit on the loan amount is 3,000,000 rubles. For Moscow and the Moscow region, St. Petersburg and the Leningrad region - 8,000,000 rubles at the location of the object, and not at the place where the loan was issued
• In parallel with the program, you cannot apply other discounts (promotions) to reduce the rate
• Payment of the down payment by third parties is not allowed
• Maternity capital can be used as a down payment, and it can also be used to pay off a loan
• A loan under the state program can be obtained if you have children from different parents