Mortgage for a family with two children in 2019
At the end of 2017, Government Decree No. 1711 of December 30, 2017 was signed, according to which from January 2019 to 2022 families with two or three children will be able to issue a mortgage with state support and preferential conditions.
New state program
The President and the Government of the Russian Federation continue to develop programs to support large families. The complex of measures aimed at increasing the birth rate is already yielding results. New initiative - reducing the cost of loans for housing.
Preferential terms of the mortgage for the second child will allow parents to arrange a loan to purchase their own housing. 600 billion rubles have already been allocated for the implementation of the state program to cover the difference in interest rates of commercial banks and a single preferential rate for program participants.
Families that meet the conditions will be able not only to issue a new deal, but also to restructure an existing contract. For example, if it was originally concluded in 2018, and the baby was born in 2019, it becomes possible to renew it and reduce the interest on the existing loan.This measure will ease the financial burden on a large family. And will expand the circle of those who can buy their own housing due to lower costs for paying a mortgage loan.
Anyone who uses the mortgage program for the second child, the loan will be issued at 6% per annum. The difference between the commercial rate will be covered by the state through AHML (Agency for Housing Mortgage Lending). You can apply there in any year of the state program (for example, in 2019), until its expiration date is December 31, 2022.
In AHML, you can specify which banks have signed the relevant agreements and lend on a preferential system. And submit documents directly to the lending institution. If we are talking about the refinancing of the current loan, executed since January 1, 2018, then it will be possible to switch to the mortgage system at the birth of the second or third child directly through the commercial structure. After receiving a birth certificate, for example, in 2019, you need to submit a corresponding application to the bank.
It is important: if borrowers draw up a loan agreement and plan to give birth to another (second or third) baby in 2019 or subsequent years, then you need to enter into an agreement with banks participating in the state program.Then it will be possible to refinance and transfer the standard loan for the purchase of housing in the mortgage for the second child. If the bank does not work under the state program, then it will not be able to refinance it, since it did not sign the corresponding agreement with AHML.
Mortgage at birth 2 or 3 children can be issued under certain conditions:
- the birth of a baby in the period of the state program (parents of many children whose children appeared before January 1, 2018, will not be able to take advantage of the benefit);
- housing is purchased in new buildings (the purchase of secondary housing is not subsidized);
- borrowers contribute 20% of the cost of housing;
- the bank issuing the loan must be an AHML partner through which compensation will be paid to business entities;
- loan amounts are limited: at least 500 thousand rubles, maximum - 3 million rubles. for all regions of the Russian Federation, exception: for Moscow, St. Petersburg and their regions, the maximum amount increased to 8 million rubles;
- prerequisite: insurance of the borrower and mortgage housing;
- the term of the mortgage agreement: from 3 to 30 years;
- borrowers will be limited in age: from 21 to 65 years at the time of repayment of the loan.
Commercial structures usually have their own additional requirements, for example, the amount of income and the way it is confirmed, the rules for attracting co-borrowers and other nuances. But the basic conditions will remain unchanged.
Please note: refinancing of previously taken loans is allowed only with their timely repayment, the absence of debts and applications for restructuring. That is, taken housing loans should be issued not earlier than 01/01/2018, if a baby is born in the next 2019, parents will be eligible for refinancing only if they are bona fide payers.
Terms of the state program
Preferential mortgage rates with a second or third child will be valid for a certain time. The program is not calculated for the entire loan period, the interest difference will be repaid for a strictly defined time.
The Resolution spelled out the payment of compensation:
- for parents with two children - 3 years;
- with three - 5 years.
If the parents entered into a contract after the appearance of the second baby, for example, in 2019, and the third was born in 2020-2022, then they will get an additional advantage: the state will compensate the mortgage rate for 8 years. That is, both the validity of the benefits is summarized.
The time limit immediately raises a number of questions from potential borrowers. Most important: what will happen to the interest rate at the end of the grace period. This moment is also settled in advance. Banks will renegotiate the contract according to the following rules: the key rate of the Central Bank at the time of its conclusion is + 2%. Suppose at the time of registration of the mortgage it was 7.5%, therefore, to raise it higher than 9.5% of commercial structures are not eligible. If we consider that the minimum rate on mortgage lending on average is 10-11%, then even after the end of the grace period for large families, a certain advantage will remain.