Not everyone knows that today is a multi-family is a unique opportunity – to get a loan within the parent’s capital. Above all, it concerns mainly loan programs, which allow many families to solve their housing or “educational” problems.
How to use parent capital for home purchase on credit? It should first be stated that this benefit is granted to the family as State aid after the birth of the child, as well as in cases where the family has received a second child. Under current legislation, a family can only receive the acquired parent capital in three cases:
- – increase the mother’s pension for capital;
- – pay for the education of the child;
- – Spend these resources on improving the living conditions of the family.
Given the sufficient temporary remoteness of the first two points, most Russians prefer to spend this capital on the other.
Before you ask “where to get a mortgage loan” should be well acquainted with the conditions of providing capital in maternity and how to use it. According to the Pension Fund, which issues certificates for this benefit, more than 75% of Russians usually use the received state aid to pay off their mortgage.
It is important to note that the family can dispose of this money and before the child is changed to 3 years, ie once the parents have received the capital certificate, they can then immediately apply for a mortgage or repay the loan.
It should be noted, however, that not all organizations issuing loans for the purchase of real estate account for this advance payment.
A loan within the parent’s capital and its funds can be used as a mortgage loan in only a few ways:
- pay the first installment when buying the house;
- to pay a loan already received for real estate.
Where to get a mortgage loan?
This certificate is impossible, and all outgoing payments made with it must be targeted and cashless. Then the procedure of preparing the necessary documents for banks that are required to apply for a mortgage.
For many holders of the “Maternity Loan” certificate, the correct use of these funds becomes a controversial problem. It is forbidden to use them:
- pay for repairs in a new apartment;
- buy a new car;
- with a view to obtaining a business loan;
- use cash to purchase real estate;
- use of all or part of the capital for the needs of the family.
To give the family a loan under the parent’s capital and she could use that money for her own purposes, you must first obtain a certificate for this capital. To do this, you must collect all the necessary documentation, contact your local FIU branch and write a request to provide it.