Who will be given a mortgage at 6 percent? A new state mortgage support program for families in which... Here is a list of the main ones

Last updated: May, 2019

A 6 percent mortgage in 2019 has very good conditions, since this is the lowest interest rate that a borrower can count on. Let's look at what other conditions this program has.

Types of mortgages at 6%

The government decree states that from 2018 certain persons can purchase real estate on credit at a low interest rate of 6%. This presidential program designed to support the birth rate of the Russian population, because a young family definitely needs its own living space in order to raise a new generation. It is now very difficult for young people to purchase real estate, even with a mortgage, since the interest rates are quite high.

But the law makes the situation easier, since a young family now has the right to buy an apartment at 6%, and the difference between the current interest rate and the established one is paid by the state.

This preferential program with state support has two varieties:

1. A married couple can take out a mortgage at 6% in 2018 if they have a second or third child.
2. You can refinance a mortgage taken out before 2018 if, starting in January 2018, the family had two children or even three.

Absolutely all Russians who meet standard lending conditions can take out a home mortgage, since the state program is aimed at helping people, and especially large families.

Who is eligible for a “children’s” mortgage?

This name for a mortgage at 6% per annum was given for a reason, since the main condition is the availability two or more children. But these conditions are quite vague; let us clarify who is covered by state mortgage support:

• At the birth of a second child, from January 1, 2018 until December 31, 2022, the family is entitled to a mortgage at 6%.
• Mortgages are also available for large families whose third child was born during this period of time.
• Families who have two children are also eligible to participate in the state program - first the second (from 2018 to 2022), and then the third (from 2018 to 2022 or from 2022 to 2027).

So, for the birth of a 2nd or 3rd child, the family will not only receive money, but will also be able to afford to purchase a new living space for convenience.

Subsidizing for mortgages taken out before 2018 is also provided for families with a second and third child.

What does a 6% mortgage apply to?

The presidential decree regarding mortgages at 6% has certain restrictions regarding the property being purchased. Thus, families will not be given a loan if they purchase:

• A private house.
• Secondary housing (apartment).

It will also be impossible to refinance the mortgage on these properties.

This is done in order to support not only the birth rate, but also construction. Therefore, to obtain a mortgage at 6%, you must choose an apartment on the primary market.

Requirements for the borrower

Getting the desired property at a low interest rate is quite simple; you just need to contact a bank or construction company and sign an agreement. But for this, the borrower must meet the following conditions:

• Must be 21 years old or older to take out a mortgage.
• Age up to 65 years at the time of making the last payment.
• Official employment with at least six months of experience for individuals.
• For individual entrepreneurs, it is mandatory to conduct business without losses for the last two years.
• The birth of a second or third child.

With those who are given a preferential mortgage, everything is quite simple and there are no exorbitant requirements, well, it goes without saying that the borrower must be solvent, which must be verified by a certificate of income when a person submits documents.

Obtaining a state mortgage at 6% is possible with co-borrowers (up to 4 people), these can be relatives or strangers. The same conditions apply to them.

To refinance a previously taken out home loan, the conditions for borrowers are the same.

Conditions for obtaining a mortgage

A mortgage rate of 6% is a good condition to consider taking out a loan. But it is also worth considering other conditions of the state program for large families:

• The minimum mortgage term is 3 years, and the maximum required repayment period is 30 years.
• A down payment of 20% or more is required.
• The loan is issued in the amount of 500 thousand rubles. and up to 8 million rubles. for residents of Moscow and St. Petersburg, as well as residents of these regions, and up to 3 million rubles. for all other Russians.

A mortgage at 6% is valid only for housing in new buildings and certain conditions are also imposed on it:

• Construction must be carried out in accordance with the law 214-FZ.
• Housing must be accredited AHML.

The borrower has the right to purchase an apartment at any stage of its construction.

The state program is no different from conventional mortgage loans in terms of insurance. The purchased housing must be insured against the risks of damage and loss, and then transferred as collateral to the bank. Also, the borrower himself must be insured in case of serious illness or death. Without meeting these conditions, a mortgage loan will not be issued.

For how long is the benefit given?

A person can pay off a mortgage loan for decades, but the state will not help and subsidize the loan all this time. Therefore, it is necessary to know the validity period of the program.

1. 3 years- if a second child is born.
2. 5 years- if a third child is born.
3. 8 years- if a second and third child were born (in the case of twins, the question is not specified, but here, logically, they should also give 8 years).

This period is most often not enough to fully repay the loan, and therefore the question arises - what rates will apply after the end of the program? Let's give the answer.

How to pay off your mortgage after the benefits end?

After the program ends, the person is obliged to continue paying the mortgage not at 6% per annum, but at a different rate. It is calculated based on the key rate set by the Central Bank of Russia. To this value is added another 2%. That is, if at the end of the state program the Central Bank rate is 7%, then the mortgage will be considered at 9%.

Mortgage refinancing conditions

The state subsidy also applies to mortgages taken out before 2018 if the family has a second or third child. The mortgage will then be recalculated and the rate will drop from the current one to 6%. The borrower will repay the loan at 6% for 3 years, 5 years or 8 years in accordance with the conditions described above.

But in order for the state to carry out the refinancing process and reduce the rate to 6%, it is necessary so that the mortgage meets the following conditions:

• The loan was valid for at least six months and a minimum of 6 payments have already been made.
• The borrower has not previously tried to refinance the mortgage under other programs.
• There is no current debt.
• The maximum period of overdue payments (if any) shall be 30 days.

Regardless of which banks and under what conditions the mortgage was taken out previously, it will still be recalculated at 6% for a certain period, and then the rate will be set according to the key rate of the Central Bank plus 2%.

How to get a mortgage or refinance it?

Subsidized mortgages are a reality, and not just a dream of every Russian, starting in 2018. To complete it you need:

• Make sure you meet the basic requirements and conditions.
• Collect all the necessary documents (their list can be found out exactly at the bank or on the AHML website).
• Decide on a bank to apply for a mortgage.
• Choose suitable housing and collect documents for it. Collect money for a down payment.
• Bring all the papers to the bank and request a mortgage at 6%.
• If a positive decision is made, then it will be possible to collect all the missing papers for housing (purchase and sale, insurance, etc.) and complete the loan.

Required documents

When applying for a mortgage loan at 6% per annum, a person will need to present:

• Passport.
• Birth certificate of the first, second and third (if any) child.
• Certificate of income.
• Certificate of employment from your place of work.
• Contract of sale.
• Estimated value of real estate.
• Insurance.
• Documents of co-borrowers (passports and income certificates).

Each bank has the right to request additional documents in order to decide whether to issue a loan or not.

Tax deduction

Many borrowers are immediately interested, as with other mortgage loans. All participants in the mortgage program at 6% have the right to return the tax deduction, but provided that they took out the loan from a bank (they have a license confirming the conduct of banking business).

If the loan was issued at another financial institution (AHML, etc.), then this opportunity is not available to borrowers.

Calculator

There is a loan calculator on the websites of banks participating in the state program to support fertility and construction. It allows you to calculate all the main parameters of a mortgage if you enter the amount for purchasing the desired home, the payment period and the amount of the down payment.

The calculation is carried out quickly and a person will be able to see not only the benefits of such a loan, but also understand what he can expect with monthly payments and the total amount of contributions, since a reduction in the rate does not mean a complete absence of overpayments.

The Government of the Russian Federation, by decree of Vladimir Putin, launched a new program to subsidize mortgages for families with children - where the second or third child will be born between January 1, 2018 and December 31, 2022. They will have access to a mortgage at 6 percent. The program starts in 2018 and will operate for 5 years. In total, it is planned to spend 600 billion rubles on it.

We’ll tell you in more detail for what purposes you can get a mortgage at 6 percent, whether you can get preferential refinancing for an existing mortgage, what the conditions are for the subsidy program..

Mortgage since 2018 - Putin’s decree and the Decree of the Government of the Russian Federation

The official website of the Government of the Russian Federation published Resolution No. 1711 dated December 30, 2017, which established the rules for subsidizing mortgage rates, as well as a mechanism for compensating banks and the Housing Mortgage Lending Agency (AHML) for losses from issuing mortgages at 6 percent per annum. The document also regulates the conditions for issuing new subsidized loans and refinancing old ones.

Resolution No. 1711 is intended to fulfill the presidential order (Pr-2440, paragraph 2), which was given to the government at the end of December 2017. Purpose of the order:

• due to the low interest rate on the loan;
• increase the birth rate, since housing is one of the key factors when deciding to have a child;
• increase demand in the primary real estate market - a 6 percent mortgage for the birth of a child will apply only to “primary” housing.

The official text of Putin’s instructions on mortgages is

How will the program work?

The procedure for obtaining a subsidized mortgage will not have any fundamental differences. Potential borrowers who meet the requirements for participation in the program must come to the partner bank that has entered into the appropriate agreement to provide mortgages at 6% in 2018 and subsequent years, and submit the necessary package of documents.

For partner banks, the state will cover the difference between the key rate of the Central Bank of the Russian Federation, increased by 2 percentage points, and the rate of 6% established in the loan agreement for individuals.

In a similar way, two years ago, when the key rate of the Central Bank of the Russian Federation jumped sharply, there was a program to subsidize mortgages in the primary market, only then it was about 12% per annum. Other differences:

• the 6% rate is not provided for any period, but only for 3 or 5 years (more details in the next chapter);
• The right to receive a loan arises after the birth of the second or third child.

Mortgage for families with children - conditions

A mortgage at 6% will apply to several loan products, but all of them are related to the purchase of housing (possibly a land plot) in the non-primary market.

Allowed:

• purchase of housing under construction (the transaction must be executed under an equity participation agreement in accordance with the requirements of 214-FZ);
• registration of assignment of the right of claim under the DDU;
• purchase of a finished apartment or house from a legal entity prior to the purchase and sale agreement (investment funds and management companies cannot act as sellers).

The subsidy can be obtained for a housing loan, the contract for which was concluded after January 1, 2018. In this case, the 6% rate will apply:

• within 3 years after the birth of the second child;
• within 5 years after the birth of the third child.

If during the program period a third child was born in a family that took advantage of a preferential mortgage for a second child, then the preferential rate is extended for another 5 years from the end of the previous period. That is, a maximum of 6 percent rate can be valid for 8 years.

Refinancing a mortgage at 6% in 2018 is also possible. You can apply for this service to the program partner bank after the birth of your second or third child after January 1, 2018. The conditions are similar.

It is important to know that after the end of the grace period, the interest rate returns to the level of the Central Bank key rate plus 2%.

Requirements for the agreement and the borrower

The government regulated in detail the requirements for borrowers and loan products that will be subject to a 6% mortgage in 2018 - the conditions are as follows:

• the loan agreement (not counting refinancing) must be concluded in rubles no earlier than January 1, 2018;
• loan size – up to 8 million rubles for housing in Moscow, St. Petersburg, Moscow and Leningrad regions and up to 3 million in other regions;
• the borrower pays a down payment of at least 20% (it is allowed to use government subsidies, for example, maternity capital, as well as employer funds);
• the borrower enters into a contract of life insurance and the collateral;
• The agreement involves repaying the loan in equal annuity payments.

Mortgage 6 percent on existing mortgage – conditions

Refinancing is carried out if the loan was issued before January 1, 2018 for the purchase of residential premises or residential premises with a land plot (finished and under construction) in accordance with the terms of the program.

To refinance a mortgage at 6%, there is also a requirement for the amount of the borrower’s own funds. The amount of loan funds cannot be more than 80% of the cost of housing.

The official text of the Decree of the Government of the Russian Federation of December 30, 2017 No. 1711 on preferential mortgages for families with children -.

Welcome! So, a 6 percent mortgage in Russia is becoming a reality. 11/25/2017 Vladimir Vladimirovich Putin, at a meeting of the coordinating council for the development of a national strategy for state action in the interests of children, said that starting from 2018, in addition to other options for helping families with children, a special mortgage program “Mortgage 6%” will be developed. It will allow families with two, three or more children to receive a loan at a preferential rate not exceeding 6% per annum. Let's find out the terms of this program, the requirements for the borrower and how to apply for such a housing loan, and most importantly - where?

Earlier, Dmitry Anatolyevich Medvedev spoke about the possibility of reducing the mortgage rate to 6-7%. At a meeting with the governor of the Samara region in May 2017, he said that the Russian economy was ready for such a rate.

Let's really evaluate the reasons that led to the creation of preferential mortgages with subsidized mortgage rates from the state:

• Low inflation. At the end of 2017, inflation in Russia should not exceed 3%, which will allow the Central Bank to continue to reduce the key rate, and therefore reduce the cost of money for banks. As a result, the next point.
• In 2017, mortgage rates reached their lowest levels. According to the Central Bank, it is 10.05% percent, which is an absolute record and by the end of the year the rate may break 10%.
• Economic stabilization. Oil prices remain around 60 rubles per barrel, which is a comfortable price for Russia. External attacks from the West on the economy were also repulsed. There was a respite before another storm before and after the 2018 presidential elections.
• Mortgages have become one of the most reliable sources of profit for banks. In 2017, it should exceed the level of 2 billion rubles. Banks are actively entering this market because... The mortgage product is one of the lowest risk. The share of mortgage arrears does not exceed 1-3%.
• Stagnation in the construction industry. The end of state-supported mortgages in 2017 became a serious problem for developers. During the period of this program, the share of mortgages for new buildings reached 70-80% in bank portfolios. At the moment, the situation has changed dramatically. Interest rates on secondary housing have become equal to or even lower than rates on new buildings. This influenced the fact that the share of the secondary market in mortgage transactions reached 70% percent. The growth that the mortgage market showed did not cover the developers' need for cheap money. People started applying for loans for ready-made options on the secondary market. The result is a decrease in the commissioning of new square meters, suspension of current projects, postponed new projects and bankruptcies of developers. If we add to this Putin’s order to move away from the practice of shared construction in the direction of project financing of construction projects within 3 years, then a serious crisis in the construction industry was looming ahead.

All these prerequisites prompted the government to launch mortgages at 6 percent. Let's find out the conditions.

Government Decree

Changes for 2019

Today (04/05/2019) Dmitry Anatolyevich Medvedev signed a decree dated 03/28/2019 on changes to the Rules for the provision of subsidies, which include the following points:

• residents of the Far Eastern District were allowed to take out a mortgage at 5%, and also made it possible to purchase real estate in rural areas of their region at a preferential rate not only from a legal entity, but also from an individual (resale). In this case, the second and subsequent child should be born not on January 1, 2018, but on January 1, 2019.
• allowed to refinance under the family mortgage program, previously refinanced loans under regular programs.
• An interest rate of 6% will remain in effect for the entire term of the mortgage.

Now the official government document dated March 28, 2019 “Resolution on amending the rules for providing subsidies from the federal budget to Russian credit organizations and the joint-stock company “DOM.RF” to compensate for lost income on issued (purchased) housing (mortgage) loans (loans) provided citizens of the Russian Federation with children" can be downloaded on our website in the same way as the previous document dated July 30, 2018 was published.

The above resolution includes the following important changes:

• now families with a fourth and subsequent children can participate in a family mortgage and refinance an old mortgage at 6% (previously, families with a 4th and subsequent children could not qualify for a 6% mortgage rate);
• the period of participation in the program is extended until March 1, 2023 for families whose second and subsequent child is born between 07/01/2022 and 12/31/2022;
• a concept is introduced as an “additional refinancing agreement”, which allows the bank to reduce the rate on an existing mortgage to 6% (regardless of the date of issue, but strictly from the legal entity), without drawing up a new agreement (now the rate reduction has become possible in that bank as well , who issued a mortgage without the need to prepare a new package of documents for work, which is especially true in the case when the wife is on maternity leave and has no income);
• the subsidy period increases to 8 years if two or more children are born between January 2018 and December 31, 2022.

Conditions

Preferential mortgages assume that the state subsidizes the interest rate for banks up to 6%. The mechanism will be approximately the same as with state mortgages in 2015-2017. The state will determine the circle of banks that will participate in the program. All of them must submit a special package of documents to the Ministry of Finance of the Russian Federation and an application for participation in the program within 30 days from the date of publication of the decree. Banks and AHML will receive monthly compensation for lost income. If your mortgage was sold to AHML or another bank, then you shouldn’t worry either. You will be able to participate in the rate subsidy program.

The program is valid from January 1, 2018 to March 1, 2023. 600 billion rubles have been allocated for the implementation of the program.

Next, they will sell mortgage products at a rate of 6 percent per annum or even less, and the Ministry of Finance will compensate the banks for lost income. This income will be the difference between the market rate (currently about 10%) and 6%. The operator of the entire mechanism is AHML. After the end of the subsidy period, the rate will be set at the Central Bank refinancing rate on the date of registration of the mortgage + 2%. It may be less according to the bank's decision.

For ordinary borrowers this will not be noticeable in any way. The mortgage agreement will indicate a fixed rate. But there is a very important nuance:

• For a family with 2 or more children (the second child must be born after January 1, 2018 and before March 1, 2023) - the 6% rate will apply for the entire period;
• For a family with 2 or more children from rural areas of the Far Eastern Federal District, a preferential rate of 5% will be valid for the entire period.

Important point. A mortgage loan at 6% will be issued only for a new building, as well as for refinancing an existing mortgage loan issued for similar purposes. This program does not apply to the secondary market. Also, this object must be purchased only from a legal entity. By transfer from an individual, it will not be possible to take out a mortgage at 6% (except for cases of issuing a loan or refinancing the mortgage of residents of rural areas in the Far Eastern Federal District).

Another very important point! Previously, according to government decree, families with 4 or subsequent children were not able to get a family mortgage at 6 percent. After a direct line with the president on June 7, 2018, this issue was raised. The state additionally allocated another 9 billion rubles and eliminated this problem.

Who can get a mortgage

Let's define the circle of borrowers:

1. A family in which a second child is born after 2018;
2. A family in which a third and subsequent child is born after 2018.

It is worth understanding that a preferential mortgage at 6% is aimed at further increasing the birth rate, so only those families who are planning to have a baby in 2018 and later can apply for a subsidy.

According to the forecast of the Ministry of Finance, more than 500 thousand families will be able to take advantage of this mortgage.

Only citizens of the Russian Federation can take advantage of the subsidy.

Loan requirements

In order for the loan to be subsidized, the bank must issue a mortgage with the following parameters:

1. The loan must be concluded in rubles no earlier than 01/01/2018 (for a new loan).
2. The size of the mortgage loan does not exceed 6 million rubles. for regions of the Russian Federation and does not exceed 12 million rubles. for Moscow, Moscow Region, St. Petersburg and Leningrad Region.
3. Down payment from 20% of the cost of housing.
4. The rate is 6% for the subsidy period. It should not exceed by more than 2% the Central Bank rate on the date the mortgage was issued, after the end of the subsidy period.
5. Mandatory life insurance of the borrower and the facility after completion of its construction.
6. Annuity payment.

In essence, this is the return of the previous ““ program, but with a new sauce - a preferential rate of 6%.

Banks participants

As mentioned above, in order for a bank to become a participant in the program, it must submit a special application for participation. If it is approved, the bank will have the right to receive compensation from the state and issue preferential mortgages at 6 percent.

The very first bank that has already started accepting applications was VTB 24 Bank and VTB Bank of Moscow. At the moment, employees are not very familiar with the conditions, but they need to be patient. You can now contact the bank. Sberbank has not yet made a decision on participation and is eyeing the president’s initiative. Employees received notifications that the entire implementation mechanism is now being worked out and the program will work in Sberbank from the second half of February.

Which marked the start of the family mortgage program. You can download the order from the link. The final list of participants included 46 banks + AHML. The allocated funds in the amount of 600 billion rubles were distributed among them in unequal proportions. The largest shares were received by Sberbank, VTB and, unexpectedly, Absalut Bank. See the table in the order or below.

Family mortgage with state support of 6% participating banks at the moment:

AHML and agency partners have already launched their “Family Mortgage with State Support” program and are considering not only borrowers for new loans, but also refinancing of existing mortgages.

How to apply

How to get a mortgage at 6% is already possible. The principle will be as follows:

1. A standard package of documents is being prepared, which is supplemented by birth certificates of children;
2. A mortgage is issued at a preferential rate of 6%;
3. The state compensates the bank for lost income.

Refinancing an existing mortgage at 6% will be as follows:

• the borrower applies to the bank with an application to conclude an additional agreement to refinance the mortgage at 6% and birth certificates of children;
• the bank is preparing an additional agreement;
• the borrower signs an additional agreement and the bank reduces the rate;
• the state compensates the bank for lost income.

Where to apply

All major players in the mortgage market will definitely participate in the subsidy program. As an example, it’s worth comparing the current leaderboard. Below are the conditions for a mortgage in a new building in the TOP 30 banks in the country.

Important point! From April 26, 2019, you can get a preferential family mortgage at VTB at 5%. There are no restrictions on the region of residence of the borrower. A rate of 5% is provided for compulsory life insurance at VTB.

Family mortgage with state support in AHML

AHML and its partners have started accepting applications for refinancing and issuing new preferential mortgages. Let's look at the bank's requirements.

Conditions:

• From three to thirty years;
• From 500 thousand to 3-8 million according to the resolution;
• Up to 80% of the appraised value of housing when refinancing;
• Rate according to the resolution.

Requirement for the borrower:

• Standard requirements for the birth of a second and third child during the program period;
• Age 21-65 at the time of completion of loan payment;
• Work experience of at least six months (IP worker - 2 years);
• Up to four co-borrowers are allowed.

Object requirement:

• The house must be accredited by AHML;
• It is possible to already register from the beginning of the cycle;
• Registration in accordance with Federal Law 214 is required.

Insurance:

• Home insurance for a finished apartment;
• Borrower's personal insurance.

Add. conditions for refinancing:

• At least six payments have been made on the mortgage;
• There is no current overdue or overdue for more than 30 days;
• No previous restructuring.

Standard. Additionally, you must provide a birth certificate for your children.

Mortgage with state support for families with children at Sberbank

From February 7, 2017, a special mortgage with state support (family mortgage) will start in Sberbank. With this preferential mortgage, you can purchase housing on the primary and secondary market from a legal entity at a rate of only 6% per annum.

General terms and Conditions:

• The rate is 6% (3 or 5 years depending on which child, second or subsequent). After the grace period ends, the rate will be 9.5%. If the Central Bank rate changes, then the rate on the date of issuance of the mortgage will be + 2 percentage points;
• PV 20%;
• You can buy a secondary or primary one, but only from a developer or contractor;
• Amount from 3 to 8 million depending on the region of acquisition of the object within the framework of government decree;
• Compulsory life and health insurance, as well as secondary property insurance.

Who can receive:

• Citizens of the Russian Federation, where the 2nd and subsequent child was born after January 1, 2018.
• Age 21-75;
• Experience from 6 months;
• Sufficient solvency.

For registration you need a standard package of documents for a mortgage + birth certificates of all children.

Important point! Sberbank currently does not refinance existing loans within the framework of government regulations. The entire mechanism is being developed. There is no exact launch date for refinancing yet. Follow the news on our website.

Other programs

State support also exists through other programs. Let's get to know them.

Matkapital

In addition to preferential mortgages, the program to support families with two or more children will continue in 2019. will operate approximately until 2022. Under this program, upon the birth of a second child, young families have the right to receive a subsidy from the state and use it for various purposes, including repaying an existing loan or paying the first installment on it.

After 2019, the Maternity Capital program will undergo a number of changes that will allow only families in special need to receive a certificate. Therefore, it is worth thinking about receiving 453,026 rubles from the state at the birth of your second child in 2019, and you will be able to use the certificate later.

Mortgage Assistance Program

It resumed in August 2018. The essence of the program is that the state writes off 20-30% of the principal debt, but not more than 1.5 million rubles, and can also convert a foreign currency loan into a ruble loan and reduce the rate to 11.5%.

This program, unfortunately, has a number of nuances that will not allow most mortgage borrowers to receive support from the state. We wrote more about this in the previous post. Be sure to check it out.

We hope that banks will begin to strictly fulfill their obligations under this program and the interdepartmental commission will be able to really help a large number of families.

For military personnel

It has become a clear and most reliable tool in solving the housing issue of military personnel. It will also continue in 2019. You can find the conditions for this program on our website.

Social

A special program to support socially significant and less protected categories of citizens is being implemented in various regions of the Russian Federation. These programs allow you to receive a subsidy from the region at the interest rate or for the down payment on a mortgage.

A great example is this. Based on her example, mortgage programs are now being launched in other regions.

We are waiting for your questions in the comments. We would be grateful for rating the post and reposting it on social networks. Let's monitor the launch and implementation of the new program together. Bookmark this page in your browser so you don't miss news and updates on this program.

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A 6 percent mortgage for large families is officially recognized as a priority government project to stimulate the birth rate and improve the living conditions of citizens.

What it is

It is no secret that mortgage loan obligations are burdensome for every average family that has decided to purchase a home. Although the mortgage interest rate is steadily declining and has reached 9-10% per annum, the significant loan amount and the excessive duration of payments doom citizens to many years of “credit slavery.” Here are the consequences mortgage holders have to face:

• the contract fixes the interest rate, which is not subject to change even if the inflation rate decreases and the state of the economy improves (certain exceptions to this rule are provided for foreign currency borrowers);
• The mortgage term, as a rule, is 10-20 years, as a result of which citizens actually pay double the cost of the purchased apartment;
• Until the debt to the bank is fully repaid, citizens cannot remove the deposit and sell the apartment, i.e. in fact, they are forced to give up any further attempts to improve their living conditions.

It is almost impossible to achieve a reduction in the interest rate when drawing up a mortgage agreement, because this type of lending is the most profitable for banking institutions. The allocation of borrowed funds for a mortgage carries minimal risks for the bank, because the fulfillment of obligations on the part of the borrower is guaranteed by the pledge of real estate.

Measures of targeted support for citizens who have received a mortgage are being taken at the federal and regional levels, but are not widespread. In the best case, borrowers receive a deferment on payments for several months, or can restructure the debt according to a new payment schedule.

This situation can be changed by a new federal program, the development of which was announced by the President of the Russian Federation in November 2017. Its main focus will be state support for families who have issued mortgage agreements since January 2018 and meet the requirements for the number of minor children the borrowers have. Let's consider the basic rules of the new project, which can significantly change the situation of mortgagers.

​The proposal to develop and approve a new social project to support mortgage holders is connected not only with election promises. Despite all the existing problems in the country, the state managed to minimize inflationary processes, and the discounted rate of the Central Bank of the Russian Federation is steadily decreasing. This has also led to a gradual decrease in interest rates on mortgage loans - most banks are ready to issue earthly funds at 10% (on the market you can also find offers below this rate).

For mortgage borrowers, lowering the interest rate by even one point means a significant reduction in monthly and bottom-line costs. Here are the conditions for a 6% mortgage from Vladimir Vladimirovich Putin in 2018 that will be available to citizens of the country when purchasing a home:

• starting from January 2018, families with a second, third or subsequent child will be able to receive a temporary rate of 6% per annum on mortgages (the birth must take place after January 1, 2018);
• the provision of funds at the specified preferential interest rate will be carried out on temporary terms - for the second child in the family, the 6% rate will be valid for three years, and for families with 3 children - for five years;
• State participation in this project consists of financing the difference in interest rates for banks - funds will be allocated from the budget to cover the difference between the contractual rate and the approved figure of 6%.

For example, if funds are allocated at 9% per annum, the state will transfer the difference to the bank in the form of 3% per annum for three or five years. For citizens, such savings can amount to tens of thousands of rubles per year.

It should be borne in mind that the preferential rate of 6% can only be applied to housing purchased on the primary market, i.e. in new buildings. This allows us to stimulate the growth of housing construction and increase the number of entries in the primary housing market. Also, preferential interest may be applied in the case of refinancing loan obligations, if the bank and the borrower reach such an agreement.

The emergence of the right to apply preferential mortgage interest is associated with the following circumstances:

• the loan must be issued after January 1, 2018, and a preferential rate of 6% will be available upon the birth of a second or subsequent child in the family;
• if the birth of a second, third or subsequent child took place after the actual registration of the mortgage, you can apply for a reduction in the rate immediately after receiving the birth certificate;
• for loans issued before January 2018, you can also take advantage of a preferential rate for the birth of children; such a reduction will be available after contacting the bank with an application.

Thus, the state allows even citizens who have an existing mortgage loan to save on payments to the bank. To do this, it will be necessary to confirm the birth of a second or subsequent child after January 2018.

The social support measure in the form of a preferential rate does not apply to the entire period of validity of the loan agreement. At the birth of a second child, the 6% rate will apply for three years, after which the previously existing conditions will come into force. For a large family in which a third or subsequent child was born, the terms of payments will be even more favorable - a rate of 6% will be valid for five years.

Let's consider what rules will be used to conclude mortgage agreements with a preferential rate, and how citizens will be able to take advantage of this social support measure.

How to use

Since the emergence of the right to a preferential interest rate on a mortgage will be associated with the birth of a child, citizens must obtain a birth certificate. To do this, you need to obtain a birth certificate from the maternity hospital and submit it to the registry office. The certificate will be issued directly on the day of application, after which the document can be presented to the bank.

The algorithm of actions for concluding a new mortgage agreement with a preferential rate will look like this:

1. searching for an apartment and considering a loan application will be carried out according to general rules;
2. when concluding a mortgage agreement, it will indicate the standard rate offered by the bank (for example, 10% per annum);
3. based on the submitted birth certificates, for each child (including those born after January 1, 2018), the bank reduces the interest rate to 6%;
4. after a rate reduction, the bank applies to authorized government bodies for co-financing of the difference in interest rates.

Thus, to reduce mortgage rates, citizens do not need to contact social security authorities or other authorized departments. The benefit will be provided by the bank that issued the mortgage loan.

Where can you apply for a mortgage reduction for families with many children to 6 percent in 2018 if citizens took out a loan long before the specified date? It is assumed that to apply the preferential rate, a similar algorithm of actions will be used - you need to submit to your bank the birth certificates of your children or a certificate from social security about the status of a large family.

Possible nuances

Until the program in question to support large families is approved in final form, it is difficult to draw conclusions about the practical application of this benefit. However, we can already note the following difficulties that may arise for citizens:

• state subsidization of the difference in percentage will be possible only for a certain list of banks accredited to participate in the program (for borrowers of banks not included in the accredited list, this benefit will not be available, or a refinancing mechanism through other banking institutions will be approved);
• since the preferential rate of 6% will only be valid for three or five years, when drawing up an agreement you need to choose a bank with a low standard rate (otherwise, after the expiration of the benefit, you will have to face an increased payment amount, which may neutralize all the benefits of the social support program );
• a mechanism for notifying citizens about the possibility of reducing the rate has not been developed (if the bank does not inform the borrower about the effect of the preferential program, the family may not know about the possibility of reducing the amount of payments).

Also, at the moment, the mechanism for challenging the action of a bank that refused to provide a benefit is unknown. This issue should be resolved in the final version of the normative act. As a rule, such controversial situations are resolved through the banking regulator - the Central Bank of the Russian Federation.

It is also unknown whether the provision of a preferential rate of 6% will affect other social support measures approved for mortgagers at the federal and regional levels. For example, targeted assistance programs approved in the constituent entities of the Russian Federation also provide for partial co-financing of payments on the principal or interest. In this case, government support measures for large families can be considered as an additional benefit or replace other social programs.

Latest news

• Since April 2019, the program has undergone a number of significant changes, the main one of which is that the program period has been extended for the entire loan period. Read more about all the changes here.
• The preferential mortgage program at 6% officially came into force on January 1, 2018. You can get a mortgage loan on preferential terms at Sberbank, VTB 24 and a number of other large financial institutions.
• On February 19, 2018, Order No. 88 of the Ministry of Finance of the Russian Federation came into force with an approved list of banks for family mortgages at 6%.

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 the 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 loans 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 your bank about loan terms.

Mortgage calculator

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