Disposal of maternity capital for a mortgage. Documents and conditions for repaying a mortgage with maternal capital. How to make a repayment

How to pay off a mortgage with maternity capital in 2018 - you will find a detailed answer to this question by reading this article.

One of the most common ways to use maternity capital is to improve the family's living conditions. In this case, funds can be used not only to purchase housing or its construction, but also to repay a mortgage loan. The clear advantage of this use is that no need to wait until your second child's 3rd birthday. A family can buy a home earlier or reduce the burden on the family budget. In this article we will look at all the nuances of using maternity capital to pay off a mortgage.

Methods of using maternity capital in a mortgage

Today, the amount of maternity capital is 453 thousand 26 rubles. These funds, as a rule, are enough for 10-40% of the cost of housing, depending on the region of residence. Using maternity capital allows you to significantly save family money and close your mortgage in a shorter time.

Capital can be spent on a mortgage loan in several ways:

Payment of the down payment. Not all banks operate according to this scheme, so during the initial consultation it is necessary to inform the bank employee that the first installment is paid from capital. In any case, most banks do not allow capital to be used as 100% of the contribution. In this case, the borrower needs to pay at least 5% of the cost of housing from personal funds (it is possible to raise capital in this way only after the child turns three years old).
Repaying the principal debt ahead of schedule. This method is interesting when the mortgage was issued before the right to maternity capital arose. It is most convenient for both parties. The borrower makes an early repayment, due to which he can reduce the required payment or the loan term. For the bank, such a procedure does not carry any risks.
Payment of interest on the loan. This scheme is used extremely rarely. It is interesting for the borrower only if he does not plan to make early repayment in the future. The bank receives a guarantee that interest will be paid.

Application of capital as a down payment

If a potential borrower plans to use maternity capital as a down payment, then it is necessary to choose a bank and a lending program that allows this.

Requirements for borrowers for such loans may be tightened, since the procedure carries a certain risk for the financial institution. You should not draw up a deposit or advance agreement before receiving the bank’s consent.

In addition to the standard package of documents, the credit institution must also provide a certificate for maternity capital and a certificate from the Pension Fund, which indicates the balance in the account. After reviewing the documents and making a positive decision, you can set a date for signing the purchase and sale and loan agreement. The procedure will then look like this:

After concluding an agreement, it is necessary to register it in the state register, in accordance with current legislation.
The registered agreement is submitted to the bank, and it issues credit funds (non-cash transfer to the seller or providing him with access to the safe where the funds were deposited in advance).
At the bank, the borrower receives a certificate about the balance of the debt, and, together with other documents, submits it to the Pension Fund.
The pension fund reviews the documents (usually it takes up to two months). If approved, notifies the borrower and transfers funds by bank transfer to the borrower's loan account.
The bank recalculates the schedule and thus reduces the required payment.

The participation of maternity capital not only allows you to significantly reduce the cost of your own funds when purchasing real estate, but also increases the loan amount that the borrower can count on based on your income.

It is possible to use capital as a down payment only if there has not yet been a single payment. If funds have already been withdrawn, for example, for a child’s education, then the capital can only be used to pay off the mortgage.

It is immediately worth noting that only the loan that was issued to improve the family’s living conditions can be repaid with capital, and the corresponding intended use of the funds must be specified in the agreement. If the family took out a loan against their own real estate and used the money for other purposes, then it will not be possible to pay off the balance of the debt with capital.

The borrower under the agreement can be either the mother, who has the right to maternity capital, or the father of the child, but only on condition that they are officially married.

To repay the mortgage, first of all, you need to contact the Pension Fund and issue a capital certificate.

Contacting the bank, where you need to inform about your intention to make early repayment and receive a certificate about the balance of the debt. It is also advisable to immediately write an application for unscheduled repayment, since most banks require advance notice in writing of any repayments greater than the mandatory payment.
Contacting the Pension Fund and submitting the necessary package of documents, namely:

a document that confirms the identity of the person holding the certificate (mother, father or guardian);
application for payment of maternity capital in the established form;
certificate for maternity capital (if it is lost, you must arrange a duplicate in advance with the Pension Fund);
loan agreement (the intended use of funds must be indicated, which implies improving the family’s living conditions);
a certificate from the bank indicating the current loan balance;
a notarized obligation of the property owner to register housing for all family members after closing the loan and removing the encumbrance by the bank;
additional documents at the request of the Pension Fund (power of attorney, if the documents are submitted by a proxy; court decision, if one of the parents is deprived of parental rights, etc.).

The pension fund accepts documents and issues a receipt to the applicant.
The decision will be made no later than 2 months. After which the applicant will be notified about this in writing.
If the decision is positive, the bank transfers funds to the borrower's loan account. Maternity capital cannot be obtained in cash, so attempts to cash out funds in this way are useless.

During the period of consideration of documents by the Pension Fund, the applicant has the right to reconsider his decision and cancel his application. To do this, you need to write a new application.

If the borrower does not apply to recalculate the schedule, then with the annuity schedule the payment will remain at the same level, but the loan repayment period and the final overpayment will be reduced. If you want to reduce the required payment, you must contact the bank and write a corresponding application. After changing the schedule, its new calculation must be provided to the borrower.

Maternity capital can only be used to repay the principal debt or interest. It is prohibited to use it to pay off any penalties.

If the amount of capital is sufficient to fully repay the balance, then further actions must be taken to remove the encumbrance. After this, the owner is obliged to fulfill his obligation and register the property as shared ownership of all family members. If this is not done, the Pension Fund has the right to revoke the payment through judicial procedure.

Reasons for refusal

The pension fund may refuse the owner of the certificate for the following reasons:

not providing all documents or filling out the application with errors;
deprivation of the owner of a certificate of parental rights to a child whose birth became the basis for obtaining the right to maternity capital;
the applicant has committed a crime against the person of the child;
the presence of restrictions on the use of maternity capital in relation to the guardian (if such a restriction is temporary, the guardian can submit documents upon its expiration);
social services took the child from the family.

In the first case, resolving the issue is simple: the Pension Fund will announce which documents are missing and what is incorrectly stated in the application. Once errors are corrected, documents can be resubmitted. In other cases, the right to maternity capital may be lost.

Other reasons for the Pension Fund's refusal are unlawful.

Nuances of using maternity capital

An application for payment of funds can be canceled, but you cannot “change your mind” if funds have already been transferred to pay off the mortgage. Therefore, it is worth weighing all the advantages and disadvantages of such use of funds in advance. If there is a possibility of selling the collateral apartment after repaying the loan, then it is better not to use maternity capital, since permission from the board of trustees will be required.
A child can independently use maternity capital funds after reaching 23 years of age, but only if the mother and father lose their rights to capital. Therefore, he will be able to apply for a mortgage on his own or repay his loan only if the specified condition is met.
If the borrower has enough maternity capital to fully repay the loan, then the borrower can initiate a return of paid insurance payments, which will also allow him to receive additional funds.

Do you want to effectively use maternity capital and eventually become the owner of a new home? Then it’s time to find out how to pay off your mortgage with maternity capital from Sberbank. Let's consider all the important points.

First, let us recall what maternity capital is. This material support is provided by the state. Families with two or more children can receive it. To participate in this social program, you must give birth or adopt a second child before December 31, 2018. The specific amount of maternity capital has also been determined, which currently amounts to 453,026 rubles.

Please note that these tools are provided for intended use only. Here's how you can apply them:

Purchase special goods and pay for services intended for a disabled child.
Give your child an education.
Generate a pension for the owner of the certificate.
Improve the applicant's living conditions. That is, you can pay off the mortgage interest, purchase a finished property, build housing, take part in shared construction, or cover the costs of housing reconstruction.

Everyone independently determines how to use maternity capital funds. However, in the vast majority of cases, certificate holders prefer to spend money on improving their living conditions. This is a really great opportunity, in addition, funds can be used in this way almost immediately.

When the mortgage loan has already been issued, it can be paid off partially or in full, if the maternity capital is enough for this. Purchasing a home is the best solution for a young family with many children.

Mortgages from Sberbank under mat capital are extremely popular, since it is this financial organization that has earned the greatest trust of citizens and provides optimal lending conditions.

How do you apply for capital to pay off a mortgage loan?

Have you taken out a loan to build your own home or purchase a ready-made residential property? Then you have the right, given by the state, to use the maternity capital certificate to pay off the remaining balance of the loan or interest on it.

There are a number of conditions that must be met. The property must be registered as shared co-ownership between the children and parents, since the capital is given specifically to the child. In this case, capital funds can only be spent on repaying accrued interest or paying off the mortgage loan directly. You cannot use this certificate to pay for penalties or fines accrued due to violation of the loan repayment procedure, due to late payments.

There are several ways to use maternity capital to pay off a mortgage at Sberbank or another credit institution:

Pay off the principal of the debt. This method is the most popular because it allows you to significantly reduce the total amount of overpayment.
Pay the down payment. This is relevant at the initial stage of mortgage lending, if the family does not have sufficient funds for their loan to be approved. The fact is that paying a down payment usually requires a significant amount: about 20 percent of the total cost of the purchased residential property.
You can also pay accrued interest on the loan using the certificate. This method is not very popular because it is not so profitable for the borrower.

Each certificate holder will be able to decide for himself which application method is best for him. The most popular effective way is to repay part of the mortgage with maternity capital from Sberbank.

How can I use capital to pay off a mortgage at Sberbank? Contact the Pension Fund with an application, mortgage agreement and documents for the apartment. The Pension Fund of the Russian Federation approves the use of MK and sends funds to the bank.

Procedure for using MK for a down payment on a mortgage: submit documents to Sberbank

Remember exactly what documents you need to provide to obtain a housing loan and use maternity capital to pay off the down payment on a mortgage at Sberbank:

copy of the passport,
loan application according to the bank form,
copy of TIN certificate,
certificate of registration at the place of residence,
a certificate from the employer confirming the length of work of the borrower,
a copy of the pension insurance certificate,
declaration 3-NDFL,
a copy of the marriage certificate,
maternity capital certificate,
a certificate from the pension fund confirming that the MK was not used.

Advantages of mortgage lending using MK in Sberbank

Let's consider the key advantages of using maternity capital to obtain a mortgage loan from Sberbank:

There are no loan fees at all.
The terms of a mortgage loan are record high: they can be up to 30 years, which makes the mortgage program as accessible as possible.
The bank sets attractive interest rates.
There is no mandatory life or health insurance for the borrower, which also helps reduce the cost of obtaining a loan.
Salary clients of Sberbank have the right to take advantage of special advantageous offers and receive a mortgage loan using maternity capital on special conditions.

Of course, there are some disadvantages that you cannot do without when getting a loan, especially for such a serious amount. Thus, many borrowers note the following disadvantages: they have to officially confirm the level of family income, they have to secure the loan with collateral, and the resulting overpayment is ultimately significant.

Main mortgage lending programs at Sberbank using MK

Sberbank presents three key areas for the most effective use of government support funds. Lending is carried out in accordance with the “Mortgage plus maternity capital” program. We will pay special attention to each direction and consider them in more detail.

Purchase of finished housing with a mortgage

This product is in greatest demand among citizens. Finished housing includes all real estate items related to the secondary market: it can be a room, a house or an apartment. There are two obvious advantages here: settlement takes place in a short time, housing can be registered as property almost immediately.

We list the key conditions for granting a loan:

The loan is provided in rubles, Euros and US dollars.
The loan term is up to 30 years.
The minimum loan amount is 300 thousand rubles.
The interest rate is in the range of 10-15%, the specific amount is determined individually.
Housing must be registered as shared ownership, taking into account the interests of the children.
You can pay MK the first installment.
Credit funds are provided in full at a time.
The purchased housing, as well as any other real estate object, can act as collateral.
It is allowed to involve up to three people as co-borrowers so that the bank receives additional guarantees and minimizes its risks. This will ultimately reduce the interest rate and increase the loan amount.

When a property is registered in Rosreestr, a note is made: it indicates that the property is pledged to the bank. Housing can be used, but it is prohibited to conduct transactions with it, that is, exchange, give or sell, without agreeing with the bank. Full rights can be obtained after the mortgage has been paid in full.

Loan for the purchase of a property under construction

If you want to become the first owners of an apartment, it makes sense to buy a new home. But with lending when buying an apartment in a new building, some nuances arise related to minimizing the bank’s risks.

An apartment in a building under construction cannot be collateral, since the house has not yet been built. The creditor will only be able to obtain the right to claim a specific object. And he will receive collateral for the loan only after the house is delivered. That is why in such cases banks require health and life insurance for the borrower, additional collateral, and the involvement of co-borrowers.

Before a new building is put into operation and the purchased property is registered as collateral, interest rates are usually inflated, since the bank needs to somehow minimize its risks and obtain guarantees. After registration of the property, the interest is usually reduced. The optimal solution is for the borrower to control the process by contacting the bank with a request to reduce the rate.

Loan for the construction of individual housing

Here are some features of obtaining a mortgage with MK in this case:

it is necessary to provide an approved project, a construction permit;
the loan is provided in installments;
land can become collateral. It must be owned by the borrower;
It is difficult to accurately determine the loan amount.

If expenses have increased, Sberbank may allow you to defer payment of the principal debt for two years or extend lending by reducing monthly payments. The use of maternity capital makes mortgage lending programs at Sberbank as accessible as possible.

In 2017, the Russian Ministry of Construction for the first time made a proposal to use maternity capital to repay monthly mortgage payments. The department is already developing a corresponding bill, the idea of which was also supported by the head of the Ministry of Labor and Social Protection Maxim Topilin: “If this measure is in demand, why not provide families with this opportunity”.

Currently, the current Rules approved by the Government provide only lump sum repayment a mortgage loan (principal plus interest) or a one-time down payment by the borrower.
A new mechanism for using maternity capital for monthly repayment Mortgage payments, as planned by the Ministry of Construction, will be provided to support families who are borrowers on mortgage loans when the mother or father is on parental leave for a child under 3 years of age.

Thus, now we are talking about additional support for families in a situation where one of the parents goes on maternity leave for 3 years and cannot contribute to the monthly mortgage payments. In fact, the new measure should compensate families for the lost income necessary to service the mortgage that arises due to one of the parents being on maternity leave, when the family is forced to live on low child benefits provided for by law, the salary of the second parent, or alimony (for single-parent families).

If during this difficult period for the family it is necessary to continue to service the mortgage loan, then paying off monthly mortgage payments without creating debt, late payments and fines for non-payment becomes much more difficult.

“This seems to be a trifle, but on the other hand, while a person is not working, he does not have a headache like paying a mortgage every month,” Nikita Stasishin, Deputy Minister of the Russian Federation for Construction and Housing and Communal Services explained the proposal on May 29, 2017.

How can you use maternity capital to pay off your mortgage loan now?

Now the certificate for maternity capital, the size of which in 2017 is 453026 rubles, can be used for a mortgage only in two directions(in both cases - from the moment of receipt of the right to maternal capital):

when receiving a mortgage loan or a loan for the purchase or construction of housing - in this case, the certificate gives the family the opportunity to obtain a mortgage from a credit institution (bank) in the amount of up to 2-3 million rubles and purchase an apartment or house using maternity capital without the need to contribute their own funds in the form of down payment (usually from 10 to 20% of the value of the property).
part of the principal debt and payment of interest on the mortgage - in this case, depending on the terms of the loan agreement or special agreements with the bank, a lump sum of early repayment (in the amount of 1 - the full amount of the certificate, 2 - the remaining actual debt on the loan or 3 - any lesser amount at the request of the certificate owner) allows you to recalculate the loan parameters taking into account the reduction of the total debt to the bank by:
- reduction of monthly payment- at the same time, the bank does not reduce the total mortgage repayment period, reducing the borrower’s monthly debt load (which is generally more profitable, since it significantly reduces the risks of non-payment of the loan in the event of force majeure circumstances - for example, when transferring to a lower-paid job or reducing wages) ;
- shortening the loan repayment period- in this case, the amount of the monthly payment is not recalculated, and the borrower must continue to repay the mortgage every month in the same amount in which he paid the loan before transferring maternity capital (which is more beneficial for the debtor in terms of reducing the overpayment of interest on the mortgage, but not always possible be acceptable to the bank).

The third option now proposed by the Ministry of Construction for using maternity capital to pay monthly mortgage payments will actually allow get your family a “credit holiday” for up to several years. At the same time, the total debt on the loan will be reduced due to the fact that monthly payments for the family will be repaid by the Pension Fund (PFR) from the federal budget funds allocated for the implementation of the maternity capital program.

The payment period in months can be determined by dividing the amount of maternity capital (total 453 thousand 026 rubles in 2017) by the amount of the monthly mortgage payment calculated by the bank in the loan agreement.

Who can pay off the mortgage with maternity capital every month?

The Ministry of Construction proposes to allow the use of a maternity certificate for monthly mortgage payments only to those families in which one of the parents is in maternity leave up to 3 years old. Two important circumstances follow from this:

will be able to pay off the mortgage monthly with maternity capital only working parents(since parental leave for a child under 3 years of age is provided by the employer in accordance with Article 256 of the Labor Code of the Russian Federation to employed citizens - mother, father, grandmother or grandfather, as well as other relatives or guardians caring for the child);
it will be possible to reset the monthly mortgage payments for the family for a long period of up to 3 years- from the end of maternity leave until the child reaches three years of age.

At the same time, it is not yet clear from the explanations of the Ministry of Construction whether it will be possible to extend payments from maternity capital used to pay off monthly mortgage payments when the mother returns from maternity leave (including with or without returning to work).

It is also not yet clear which child in order of birth (or adoption) will be eligible for this opportunity:

January 21, 2017 At the XVI Congress of the United Russia party, Deputy Minister of Construction and Housing and Communal Services Nikita Stasishin, announcing the new initiative for the first time, noted: “Here, our young family took out a mortgage, but in the family second or third child is born. What we can?"
On May 29, 2017, speaking at a meeting on construction in the Government of the Bryansk region, Nikita Stasishin spoke about the new initiative in a different way: « When is the third child born? and one of the family members goes on parental leave, during this period [We, the Ministry of Construction, propose] to use maternity capital to pay off the monthly mortgage payment.".

Thus, if initially the new initiative was positioned by the Ministry of Construction as a measure that could be provided to parents on leave to care for any child (i.e. on the second or subsequent), then in the current version it is defined as new support measure for large families at the birth of a third child (similar to the monthly cash payment introduced in the regions from January 1, 2013 according to Vladimir Putin’s “May Decree” dated May 7, 2012 No. 606 for the third and subsequent children until they reach the age of 3 years, paid in the amount of the child’s regional subsistence level - now in some regions

At the moment, the amount of maternity capital is approximately 10-40% of the cost of an average apartment, depending on the city, region, and initial housing conditions. In a normal situation, the use of maternal capital has a number of restrictions that do not allow you to dispose of it completely at your own discretion. However, repaying the mortgage with maternal capital is considered as improving the child’s living conditions, which means that the loan can be repaid in this way without any problems. Using this approach requires a family certificate.

What is maternity capital

Family capital is a certain amount that the state can transfer one-time to a woman who has given birth to a second, third, etc. child, starting January 1, 2007. The list of ways to use maternal capital is long, but limited by law. You can use the mother’s budget only to meet the needs of the child: education, improvement of living conditions, individual essentials, etc. In most cases, this money is used to purchase housing and pay off debt under a mortgage agreement.

How to pay off a mortgage with maternity capital

Maternity capital can be used to pay off a mortgage if you follow a certain procedure:

Raising money to pay the down payment. Accounts for approximately 20% of the total amount.
Registration of a mortgage loan. You will need an identification document, a certificate for receiving maternity capital.
Actions after the mortgage is issued. Drawing up and notarization of a document confirming the ownership of housing. The loan is registered by Rosreestr, and an extract from the Unified State Register is issued.
Using maternity capital to pay off the mortgage. To do this, you will need to obtain a certificate from the bank about the debt under the loan agreement. Then the owner of the certificate for maternal capital signs a notarized obligation to register the children and the second spouse as equal shareholders of the housing within 6 months after repaying the debt to the bank and removing the encumbrance from the living space.
Submitting an application for the use of maternal capital to the address of the pension fund. After receiving a certificate of credit obligations, you should submit a corresponding application to the Pension Fund of the Russian Federation, attaching documents: passport, SNILS, obligation to register the purchased housing as shared ownership of all family members.

Selecting a banking institution and lending program

Purchasing real estate under a mortgage agreement with the right to use maternity capital to pay off the mortgage is not practiced in all banking institutions. Such financial transactions require specialists well trained in this field and appropriate permits. The following banks allow monthly payments or mortgage repayments with maternity capital:

Bank of Moscow. Issuance of mortgage loans from 900 thousand to 90 million rubles. for a period of 50 years with an initial payment to the bank of 10% of the amount.
Sberbank. It has an individual system for calculating the maximum loan amount, as well as the interest rate, which will be reflected in the payment schedule and the amount of monthly payments. After paying the down payment, taking into account the maternity capital, the bank will within a few days stop charging penalties for the maternity capital not previously paid.
VTB 24. Provides the borrower the opportunity to make partial payment using maternal capital. After receiving the certificate and submitting it to the VTB 24 branch by its owner, the bank will determine the amount of the loan that it can issue to the borrower. Regardless of the amount, investing capital in a mortgage will provide a loan on favorable terms: 11% per annum, term up to 30 years, minimal fines.

Application for a mortgage

The corresponding statement has unique content for all banks, but a common structure. When submitting an application, it is important to indicate the data specified in the documents. If such a possibility exists, you should notify the bank of your intention to use partial repayment of the mortgage loan with maternity capital. After reconciling the data, the application must be sent to the bank through which it is planned to draw up a mortgage loan agreement. Based on the data received, the bank will decide whether it can issue a loan to the applicant, and will also determine the final conditions.

Signing and registration of a loan agreement

If a positive decision is made based on the application received from the borrower, the loan expert:

will send a notice of the commission’s decision to the applicant;
will make a note in the Application Registration Book;
will prepare a credit file.

During a personal meeting with the applicant, the details of the loan agreement are discussed: repayment terms, loan obligations of the parties, the possibility of repaying the housing loan with maternal capital. The agreement with final terms is drawn up in two copies, which are signed by the parties. The final stage is the mandatory registration of the loan in the Unified State Register Chamber.

Certificate of debt balance in the Pension Fund of Russia

The contract execution procedure does not end with the signing of the contract. In order for the pension fund to transfer capital to the bank, the applicant must submit a certificate of debt on the loan to the Pension Fund of Russia branch. It can be obtained from the branch of the banking institution that issued the loan. To do this, you must write a corresponding application and provide the employee with a loan agreement and an identification document. Each bank has its own time frame for preparing a certificate and is up to 5 working days.

Repaying the mortgage with maternity capital and recalculating the loan payment schedule

Repaying a mortgage with maternal capital automatically leads to a recalculation of interest, and as a result, the final amount that will have to be spent. This is due to the fact that the amount of capital cannot be immediately included in the mortgage agreement, so interest is calculated based on the down payment that the borrower can make. The capital amount subsequently contributed can be distributed according to the current terms of the agreement. It will be used to pay off the debt directly or will be distributed between interest and the initial loan amount.

Documents for repaying a mortgage with maternal capital

A mortgage for maternity capital is issued upon provision of the following documents:

A completed application form;
copies of passport;
a copy of the work book;
a copy of the employment contract or a certificate of form 2-NDFL;
income certificate.

What documents are needed for the bank

Signing, drawing up, and registration of the agreement are carried out according to the following documents:

original passport of the borrower;
marriage certificate, presence of children;
SNILS;
educational documents;
certificate of absence of debts to other banks for utilities;
a complete photocopy of the work record;
2-NDFL;
notarized consent of the spouse.

List of documents to be submitted to the Pension Fund

Maternity capital for paying off a mortgage is issued upon presentation of the following documents to the point for issuing a certificate for maternity capital:

state certificate;
copies of documents confirming ownership of real estate;
a copy of the cadastral passport for real estate;
expert description and conclusion based on the results of inspection of real estate;
copies of passports;
SNILS;
a notarized copy of the loan agreement;
certificate of remaining debt to the bank;
a copy of the mortgage agreement;
certificate of registration of ownership.

Conditions for using maternity capital to pay off a mortgage

Providing money from the state to improve housing conditions is possible if several conditions are met:

the mortgage is issued to the owner of the certificate;
by law, the purchased property can be registered only in the name of children and their parents;
in case of temporary impossibility of registering housing as common property, the borrower signs a written obligation to register family members as shareholders within 6 months;
family members of the certificate holder cannot be a party to the transaction.

Maternity capital for a mortgage for a down payment

Family equity can be used as a means to increase your down payment on your mortgage, which will reduce your overall loan overpayment. This is the most common use of maternal capital. The payment schedule is also recalculated and their size is reduced. The solution is standard, does not require additional legal knowledge when filling out an application, and facilitates early repayment of the mortgage.

One-time payment of part of the loan and interest on its use

A common method of repaying a mortgage is that part of the capital is spent on paying off the debt, and part on interest. In the second case, half of the capital is used as a down payment, reducing interest on the loan, the total overpayment and reducing the amount of debt. The second half is evenly distributed over a certain period of time and goes towards partial or full payment of interest for this period. The borrower himself can choose a convenient option: for how long to distribute the second part of the capital, partially or fully pay interest.

Mortgage repayment by participants of the savings and mortgage system of military personnel

A military mortgage differs from the usual in a larger share of financial assistance from the state, and is characterized by the provision of preferential lending conditions, an additional targeted loan, and the inclusion of money in the military personnel’s personal savings account. Military personnel are entitled to preferential conditions:

with a length of service of 20 years;
those who resigned from service in cases provided for by law (for health reasons, reaching the service age limit, personnel changes, family circumstances taken into account by law).

Paying off a military mortgage with maternity capital has a number of advantages. The state can provide a serviceman with an interest-free loan, which will become part of the down payment on the loan or will be used to pay off interest. The Pension Fund also has the right to pay part of the savings from the federal budget in order to partially cover the amount of the total debt if the serviceman’s service is more than 20 years. The remaining clauses of the military mortgage agreement and the conditions for the provision of maternity capital for it remain unchanged.

Video

Found an error in the text? Select it, press Ctrl + Enter and we will fix everything!

Repaying a mortgage with maternal capital is beneficial for families with children. Legislation defines the possibility of using state assistance to families to purchase an apartment or build a house.

Using a mortgage or home loan, families have the opportunity to direct finance towards its full or partial repayment. This procedure has certain nuances.

How to pay off a mortgage with maternity capital

This can be done in different ways:

pay the down payment on a mortgage or loan;
pay off interest on a home loan;
pay the loan in part (the mortgage is issued for the full cost of the living space).

Important! Banks providing secured loans are required to accept MK funds as repayment of the mortgage.

Typically, it covers from 10 to 40% of the debt (depending on the price of living space).

Download for viewing and printing:

Requirements and repayment procedure

The conditions for repaying a mortgage by using MK funds include:

the focus of the loan is to improve the condition of housing in families;
the location of the residential premises is the territory of the Russian Federation;
the right to be borrowers belongs to both the wife and the husband if the marriage is officially registered;
registration of the purchased apartment or house as joint ownership, since assistance from the state is the common property of the family;
the share of children is determined by the parents;
parts of the apartment registered in the name of minors are approved by a notary.

This step will eliminate possible problems when selling premises purchased using family capital.

The procedure for repaying a mortgage in 2019

To solve this problem, you first need to go through a number of stages, namely:

By agreement with the bank, the client receives a housing loan for the full amount, and the apartment is registered as ownership.
The credit institution transfers the finances to the seller, and the client agrees with him in full settlement. The bank takes the apartment as collateral.
The credit institution is notified of the client’s intention to repay the mortgage with maternity capital.
The bank provides information about the balance of the amount and interest, in addition, a deed establishing the rights to the purchased apartment, which is under a mortgage

Do you need information on this issue? and our lawyers will contact you shortly.

Required documents

The owner of the certificate submits an application of a certain form to the local branch of the Pension Fund for the disposal of state assistance.

In addition to the application, you will need:

certificate;
credit agreement;
information from the bank about the balance of debt;
identification document of the applicant (mother, father or guardian). When concluding a loan agreement, the husband will need his documents and marriage certificate;
official document confirming the ownership of housing;
notarized obligation of common ownership of housing.

Important! The exact shares must be indicated within six months from the start of repayment of the pledge.

Other papers you may need:

power of attorney (if the transaction is carried out by a representative);
a court ruling depriving a parent of his rights and transferring them to another citizen;
certificate of death of the certificate owner and transfer of rights to another person;
adoption documents.

At the Pension Fund branch, a receipt is issued for the acceptance of documents (with their list and time of acceptance).

Important! Approval will be required to transfer money from the family capital to the mortgage account.

What to do after receiving approval

Specialists are given one month to review the submitted documents. If any decision is made, a written response will be sent to the applicant.

With the PF decision, you must contact the bank to notify your intentions. Most banks have set a specific period of 30 days for this.

Important! A positive decision will lead to the transfer of money by the Pension Fund to the bank account within two months.

After the bank receives the money, the borrower will be offered an option to interact with it:

reduce the terms of the collateral loan, monthly payments will be the same size;
maintain payment terms with a reduction in the size of the regular payment;
repayment of a mortgage loan with maternal capital.

The first two options oblige the bank to provide a new monthly payment schedule.

In the latter situation, it is better for the client to request a loan closure document in order to avoid possible claims from the financial institution.

Legality of refusal

If you refuse to provide maternity capital to pay the collateral debt, you should find out why the PF did this. The applicant can appeal the decision to higher authorities or to the court.

The reasons for refusing to transfer family capital are as follows:

an incomplete list of papers or false information was provided;
there were errors in the application;
the parent is deprived of rights to children, which became the reason for the refusal;
the applicant committed a criminal act against a child;
The competence of the guardian is limited by the guardianship service when using
family capital.

Attention! The period for processing citizens' appeals is 1 month. During this time, a response will come canceling or approving the decision.

The law does not provide for any other reasons to refuse the applicant’s request.

Terms of use of funds

The certificate is valid for an unspecified period of time. This means that the amount due can be received at any time as needed.

In the event of death or loss of a citizen's rights to assistance from the state, the second parent (guardian) or child is allowed to use the money after turning 23 years old.

Important! Early termination of the mortgage agreement gives the borrower the right to recalculate and return insurance premiums that have been paid and not used.

It is possible to obtain a tax withholding amounting to 13% of the payment amount. Maternity capital is not used to reimburse penalties and fines in relation to a mortgage loan.

Refund deadlines

Debtors can repay the money soon after the loan is issued. The banking transaction will be regarded as early repayment of the loan.

Attention! It should be remembered that family capital is not cashed out. In order to prevent penalties from the bank for committing such actions, the client must enter into an agreement and comply with obligations.

Some banks impose a ban on early repayment of a mortgage with maternal capital for a certain period. Credit institutions have programs that provide for the refusal of early loan repayments in exchange for a reduction in interest on it.

To partially repay the pledge earlier than the established period with family capital, there are 2 options for recalculating contributions:

Maintain the loan term by reducing the monthly payments.
Reduce the loan term while leaving the amount of regular payments unchanged.

How to make a repayment

When applying for a mortgage, you are given the opportunity to use capital as a down payment.

Initial fee

Not all banks provide this service.

In order to use the capital as a down payment, you should wait until the child turns three years old.

In this situation, the amount of money must be in full; if part of it has been used, the rest can be used as repayment of an existing loan. The presence of a stable income must be documented.

Important! Such loans are unprofitable for the loan recipient, since a high interest rate is used, even with a small loan amount for the maximum period.

List of documents for the lender

To fully or partially close a pledge in a bank, you will need the following package of documents:

passport;
certificate confirming the availability of capital;
loan repayment application.

Principal of the debt

The method that includes the principal amount of debt is used most often. It is most beneficial for the certificate holder:

the principal debt is reduced;
interest is calculated on the balance;
in general, the volume of overpayments will decrease.

Payment by interest

In this situation, the financial institution that receives the interest that is due to it has a great benefit. In reality, borrowers rarely use this scheme. They also have a certain benefit: they can repay the principal debt, regular payments are reduced. If you make a higher payment, the repayment period will be shortened.

Dear readers!

We describe typical ways to resolve legal issues, but each case is unique and requires individual legal assistance.

To quickly resolve your problem, we recommend contacting qualified lawyers of our site.