Family mortgages with state support have been expanded: we analyze the conditions and pitfalls of the program

Families with children can count on government support when purchasing a home. We asked lawyer Mikhail Vrublevsky about who and under what conditions is entitled to a preferential mortgage with state support.

Own housing is the dream of every family that does not have one. Not so long ago, living in the same living space with elderly parents was considered the norm, and even now this phenomenon is by no means rare, given the high cost of square meters. However, more and more often, young people prefer to move out of their relatives into rented apartments or save up for a down payment and purchase at least a modest, but their own home, especially since the amount of monthly payments to the bank is approximately equal to the cost of rent, with the difference that an impressive part of the salary does not go into someone else’s pocket uncle or aunt, but to fulfill a cherished dream. The state supports its citizens in their pursuit of independence and offers several options for family mortgage programs on favorable terms.

We asked our expert whether support is provided to young families who decide to purchase their own home.

Vrublevsky Mikhail Mikhailovich, trial lawyer - “Legal Bureau Vrublevsky and Partners”:

“Yes, the state provides support for young families to obtain mortgages. For mortgages for young families with two or more children, the rate has been reduced five times, and today it is 8–12% and will continue to decline. We also offer a preferential mortgage at 6% per annum.”

It is clear that not a single bank will operate at a loss. Mikhail Mikhailovich explained to the Federal News Agency that incentives for purchasing your own square meters are provided by the state, which compensates banks for possible financial losses that they incur by reducing mortgage rates.

In addition to the family mortgage, there are other programs that allow citizens to buy housing at a profit. For example, young spouses whose age does not exceed 35 years have the right to get on the waiting list and receive a subsidy if their family is officially recognized as in need of improved housing conditions. The amount of assistance is 30% for couples without children and 35% if there are children in the family. You will have to pay the remaining cost out of your own pocket. Real estate experts warn that this path to achieving the cherished goal will be long and thorny. Applicants will have to collect an impressive package of documents, prove that the square meters at their disposal are not enough for normal living, and then wait in line to receive a subsidy. On average, no more than 20 families are made happy per year.

In 2021, the then current Prime Minister Dmitry Medvedev approved the terms of the so-called “Far Eastern Mortgage”. According to this unique offer, housing in the region is offered to be purchased at an unprecedented 2% per annum on the following conditions:

— the loan can be obtained from December 1, 2021 to December 31, 2024;

— the size of the mortgage should not exceed 80% of the cost of the purchased property;

— both apartments on the secondary market and new buildings are available for purchase;

- it is allowed to purchase a finished private house with a plot or a house under construction;

— a loan can be obtained for an amount of no more than 6,000,000 rubles and for no more than 20 years;

— if spouses buy housing, they must be no older than 35 years;

— single mothers and fathers of minor children also have the right to the “Far Eastern Mortgage”;

— borrowers undertake to register in the purchased housing.

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What is a mortgage with state support for families with children?

For many Russians, a mortgage loan is the only opportunity to purchase housing for themselves and their relatives. Certain categories of citizens can receive loans on preferential terms under the family mortgage program. It appeared in 2021

thanks to the Decree of the Government of the Russian Federation No. 1711, which was subsequently repeatedly amended and clarified. The text of the document is posted here.

The benefit for families with children is achieved by reducing the interest rate on the loan, part of which will be subsidized from the federal budget. The calculation is simple: the average mortgage rate in Russia is more than 7% per annum, 6% of which will be paid by the borrower, and the remaining interest will be reimbursed to the bank by the state.

It is important that if a third baby is born in your family, the family will be able to receive 450,000 rubles from the state to repay the loan. The application must be written after the mortgage has been issued - in the bank that issued it. And thus the family will be able to further increase their benefits from obtaining a mortgage. True, this applies in principle to any mortgage loan, not necessarily to the “family mortgage”.

Requirements for borrowers

We have figured out the conditions under which the state helps citizens purchase housing. As far as the bank's requirements are concerned, they are not particularly different from those presented by financial institutions when issuing a regular mortgage. The main criterion for deciding whether to approve or refuse a loan is the client’s solvency.

Young families with children do not always have a high income, but Mikhail Vrublevsky is encouraging that there is a chance of getting a positive decision from the bank, even if the salary is low. Among other things, a good credit history is of great importance, which will convince financiers of the borrower’s reliability.

It is a fairly widespread practice when co-borrowers are involved in the process, for example, from among relatives or close friends. The opinion of a trial lawyer on this matter is quite clear: “It is not advisable to involve co-borrowers. Then they will be co-owners of the apartment.”

Mortgage conditions with government support

You have probably already encountered the fact that all social programs, especially those subsidized by the state, have certain restrictions. A family mortgage is no exception and there are also certain conditions that must be met.

You will not be able to buy any home or get any amount you require. When applying for a mortgage, you will need to consider the following conditions:

• You can receive up to 12 million rubles for the purpose of purchasing or constructing real estate. This amount is valid for residents of Moscow, St. Petersburg, Moscow region and Leningrad region. For residents of other regions, the maximum amount will be 6 million rubles,
• You need to contribute your own funds, the down payment is from 15%, to buy a house – from 40%,
• It is not prohibited to use money from maternity capital. Let us remind you that at the birth of the first child after 2021, families are provided with capital in the amount of 483 thousand rubles, and for the second they are given 639 thousand rubles,
• The interest rate will be up to 5% for residents of the Far East and no more than 6% for residents of other regions,
• The above rate is valid for home, life and health insurance. If the borrower refuses personal insurance, his interest rate may be increased (but this is determined by the individual bank).

Initially, mortgages with state support were issued to families at a reduced interest rate only for a certain period. Families with two children received a reduced rate for 3 years; if there were more children, then for 5 years; for a maximum of 8 years, the reduced rate was valid if another child was born in the family after the loan was issued.

After 3-8 years, the rate increased, and it was calculated taking into account the key rate of the Central Bank plus 2 percentage points. But after the launch of the family mortgage, they decided to abandon this condition

, because it was impossible to calculate the costs and possible risks for the parties to the transaction. From 2021, the interest rate has become fixed for the entire term of the loan agreement.

During the operation of the state program, its conditions changed several times, especially significant

occurred in the summer this year, we display them in the table below:

Thus, the possibilities for family mortgages have expanded significantly

, which means more families will be able to take part in it. We will describe a detailed list of requirements below.

Important design points

Despite the fact that mortgages for families with two or more children are subsidized by the state, only the bank decides whether to give the applicant money or not. Therefore, the family must meet the bank’s criteria and have a sufficient level of solvency.

If the family has many children, special attention is paid to solvency. After obtaining a mortgage, the family must have enough funds to repay the loan and for themselves. For example, you can take the cost of living - for each family member there should be at least 11,000-12,000 rubles left.

Tips for borrowers:

• document all family income, all benefits if available;
• if the spouse is on maternity leave, but will soon return from it, it makes sense to postpone filing the application until that time;
• Before applying for a mortgage for families with children, close all existing loans. Credit cards especially reduce solvency. This applies to both the main borrower and the co-borrower;
• pay off all debts on taxes and fines, check yourself and the other half against the FSSP debtor database;
• When applying, use maternity capital if it has still been spent. With its help you will reduce the loan amount.

It's good if you receive your salary through a bank that issues mortgage loans. Then first of all look at his website to see which developers he works with. If you are satisfied with the object, submit an application. Payroll banks give more approvals, do not require certificates, and making payments from a reverse account will be convenient.

Who can take out a mortgage with government support?

Considering that a family mortgage is a preferential state program, not everyone can take advantage of it, but only certain categories of citizens. Who is eligible for a loan at a preferential rate:

1. Families where a child will be born between January 1, 2021 and December 31, 2022 (even if the first);
2. Families raising a child with a disability. In this case, the year of his birth does not matter; his date of birth may be before the start of the state support program,
3. Families with adopted children, provided that at least one child was born between January 1, 2021 and December 31, 2022.

Both parents and children must be citizens of the Russian Federation. The set of required documents is usually quite standard: parents’ passports, children’s birth certificates, marriage or divorce certificates, certificates of income and copies of work records. We describe in detail how to obtain the last two documents via the Internet here.

Each bank has individual requirements for borrowers, but most often the following items are checked:

• Citizenship of the Russian Federation,
• Availability of registration,
• Official employment and the possibility of its documentary confirmation,
• Availability of own funds sufficient to make a down payment.

Banks do not require that parents be legally married or that there must be a second parent

. Therefore, single-parent families can also take advantage of this program, the main thing is the presence of children born during the periods indicated above (and a sufficient level of solvency).

Special Features and Offers

Family borrowers with children can count on other options that will help ease the loan burden.

Military mortgage for families

DOM.RF combined two possibilities into one - a military mortgage and a preferential family loan. The program is available to military personnel who are NIS participants and who have had a second or subsequent child between 2021 and 2022.

The mortgage amount here is much higher than just a military loan - up to 4,031,593 rubles, and the rate is only 4.9% for the entire term.

What kind of housing can families with children buy with a mortgage with state support?

It is important to know that not only are there requirements for the parties to the transaction, there are also requirements for the property you want to purchase. For most regions, the most important condition is the purchase of real estate on the primary market from a legal entity.

What you can buy:

• An apartment in a residential complex under construction from the developer,
• Already completed new building also from a legal entity,
• Private house with land,
• Housing on the secondary market in the Far Eastern Federal District, but only if it is located in a rural settlement.

It is allowed to use money for the construction of a private house from 2021, but under a contract agreement with a legal entity or individual entrepreneur

. It is important that all work is carried out exclusively under an official contract.

What mortgage funds cannot be used for under this program:

• To independently build a house;
• To purchase an apartment or room on the secondary market from an individual,
• For the purchase of commercial real estate.

Or maybe there is something more profitable?

A mortgage for families with 2 or more children is certainly a good option for buying a home on credit. Thanks to the state, the rate is reduced to 6%. But this was very relevant in 2021, when the program started. Now mortgage rates are trending down. And it is quite possible to find an even better offer without any subsidies.

Many banks enter into agreements with their developer partners under which they issue mortgages at the lowest interest rates. For example, at Sberbank, rates on new buildings start at 5.4%. So, be sure to compare a mortgage with children and a regular mortgage for a new building. Perhaps the second option will be more profitable for you.

In which banks can you get a mortgage with state support?

Preferential loans with state support are not issued by all banks, but only by those credit organizations that are on the list approved by the state. There are about 50 of them, that is, the list includes the largest and most trusted banks; the full list can be found at this link.

Where Russians turn most often:

• Sberbank;
• VTB,
• Bank "Dom.RF",
• Rosbank,
• Rosselkhozbank, etc.

The conditions are approximately the same for everyone, because the loan is issued with a subsidized interest rate.

However, each bank has the right to independently evaluate the borrower and his solvency, so personal requirements and the list of documents required to consider a mortgage application will vary.

Let's look at an example:

Please note that the most favorable conditions and low rates will be available only to salary clients

. Therefore, we recommend that you contact the bank where you have a salary project (or transfer receiving your salary to the bank that offers the lowest interest rate).

Additional documents

All of the above is true for almost any situation, since the bank assumes that the person definitely has these documents. If something is missing (for example, a second identity document), this issue will also be considered separately. In addition to what has already been listed, if the bank believes that the client is obliged to confirm his income, a certificate of 2 or 3 personal income tax will be needed. In some cases, when the employer for some reason cannot issue such a certificate, it is allowed to provide another similar document, which will indicate all the information as in the 2-NDFL certificate.

If a potential borrower already has a salary card issued by Sberbank, the situation with income confirmation becomes even simpler. The bank independently takes the statement and makes a certificate based on its data. It is important here that the client does not receive his salary anywhere else in another way, since the bank will not be able to use this information without additional documents.

Pensioners will have to provide a certificate from government authorities about how much they receive monthly. In addition, if there are official additional sources of income, you will need to provide documents for them separately.

For example, if the client already has real estate that he rents out, then a lease agreement will be needed.

How long will the state-supported mortgage program last?

Families will be able to take advantage of the mortgage program with state support until the end of 2023 at the birth of even their first child. If you have a child with a disability that will be established after 2022, then you will be able to apply for a preferential loan until the end of 2027.

Is it possible to refinance a previously taken out loan with government support? Yes, if you have only recently become eligible to participate in this federal program, and you already have an existing home loan, then you can refinance it at a preferential rate of up to 6% per annum.

There are two nuances to this:

• mandatory condition - at least one child born after January 1, 2021 (or a child with a disability);
• your home must have been purchased from a legal entity, i.e. from the developer company.

Questions and answers

If the eldest child is over 18 years old, can I use a family mortgage?

Yes, if any other child meets the conditions.

Can an ex-spouse take out a family mortgage?

Yes, any parent can take advantage of preferential loans.

If the child is adopted, are we eligible to participate?

Yes, the main thing is that the child’s date of birth fits the terms of the program.

Can I use the program several times?

Yes, the number of applications for a family mortgage is not limited.

Do I need to allocate a share to the children or the other parent?

For children - only in case of a court decision, guardianship authorities or use of maternal capital. You are not obligated to allocate a share to the other parent.

Can the program be used to refinance a previously taken out mortgage?

Yes, even if you have refinanced before. Please note that the loan balance should not exceed 80% of the cost of housing.

In conclusion, we note that if you are ready for a home loan, buying a new apartment, house or construction, then a family mortgage is an excellent opportunity to realize your dream. Low interest rates and a long payment period will allow you to not overstrain the family budget.

Meticulously and carefully look at the list of banks that have accredited the construction project you are interested in. And then study their offers on mortgages with state support for families.

After all, first of all you should be interested in the apartment, unless, of course, you have the desire to buy at least something - “if only it was.”

Preferential mortgage and maternity capital

To obtain a mortgage with government support, the borrower must make a down payment

. According to the current terms of the program, you need to contribute at least 15% of the actual cost of the property.

If the family has the right to maternity capital, then the borrower can use the money received from the state in whole or in part as a down payment when obtaining a mortgage. That is, you can completely spend your maternity capital to pay for this 15%, and if the balance turns out to be insufficient for this, then the borrower can pay the remaining amount from his own savings.

If you want to immediately use the maternity capital certificate as a down payment:

• Contact the Pension Fund and order a certificate indicating the amount of maternity capital balance. This document can also be ordered through State Services or the Sberbank Online service,
• Select the bank where you want to get a mortgage, contact the branch to fill out an application or fill out a form through the bank’s official website,
• Get approval
• Find the apartment you need,
• Complete the deal
• Obtain a loan certificate from the bank with bank account details,
• Take it to the Pension Fund and write an application for the transfer of maternity capital funds to the loan account.

If the mortgage has already been issued and is in force, and you have just now decided to use maternity capital funds

, then you can also let it pay off the loan. Just go to the last point from the instructions above - get a document from the bank confirming that you have a mortgage, take it to the Pension Fund and write an application to transfer money.

Standard package

The standard package of documents includes:

1. Customer profile
   . It is issued by the bank. You can also fill it out directly from the financial institution’s website and fill it out in advance.
2. Passport of a potential borrower
   . It must contain a registration mark. Theoretically, the option of lending without registration is allowed (for example, if there is temporary registration), but each such case is considered on an individual basis.
3. One of the additional documents
   can confirm the client’s identity. This can be a military ID, a service ID (for law enforcement officers or military personnel), or a driver’s license. If there is nothing listed above, a foreign passport or insurance certificate (SNILS) will do.

How can a family with children get a mortgage with state support?

To summarize: if you are interested in the conditions of the state program of preferential mortgages, and you want to take advantage of it, then you need to follow these simple steps:

1. Decide on the bank where you will apply for a loan to purchase real estate - we traditionally advise choosing large market players, with extensive experience and a sufficient number of branches and ATMs in your city for the convenience of repaying the debt (many of them have rates below the maximum),
2. Once again, carefully study all the conditions and requirements, and if necessary, contact the bank for advice. Make sure that you really are eligible to participate in the state support program,
3. Find housing that will meet the program requirements. We advise you to use the service for checking new buildings and developers so that you do not have any legal problems. Here is the link to it,
4. Contact a bank that has a family mortgage program in its arsenal and apply for its participation. Each bank has its own rules and requirements for the borrower, check the list of documents required from you, and proceed to apply for a loan.

Let us remind you that the terms of the program allow you to use maternity capital to pay off debt partially or completely.

You can use money from the state both to pay the down payment and to pay off the principal amount of the debt, and you do not have to wait until the child turns 3 years old.

What other housing programs are there for families?

Young Family Program

A family in need of housing, whose spouses are not older than 35 years, can receive a certificate for partial compensation of the cost of real estate. However, the waiting list for the program in some regions is impressive . You can submit an application and read the conditions at State Services. There are also regional programs to support young families - you can find out about them on the website of local ministries of social development or in the city departments responsible for this issue.

"Far Eastern Mortgage"

A mortgage at 2% is suitable for spouses under 35 years of age or one person with a child under 18 years of age.

Mortgage for families from banks

Many banks have their own mortgage offers for families who, for some reason, do not fall under the state program. But the rates on them are above 6%.

How can you manage money from government support?

The money under the certificate can only be spent on purchasing or purchasing housing for a young family. You can buy an apartment on the primary or secondary market or compensate for the cost of building materials or the work of builders.

The subsidy can be paid as the last share contribution if, after full payment, the housing becomes the property of the young spouses.

Spouses can participate in the young family lending program only once. When entering the program, housing must be located in the same region where the spouses applied for participation. An additional condition is that the living space must not be purchased from relatives.

Family mortgage

Mortgage lending is a popular way to purchase a home. The Family Mortgage program with state support has been in existence since 2021. It allows you to buy housing on preferential terms. Throughout its existence, the lending conditions under the program have changed. Today, families with one child can get a family mortgage at a reduced interest rate.

Description of the financial product

The program allows you to purchase housing (of any size, but costing no more than 6-12 million rubles, depending on the region) with a mortgage at a low interest rate. The state does not provide subsidies under this program, but the reduced rate will help avoid large overpayments on the loan.

Until 2021, family mortgages were only issued to parents with 2 or more children. Then families were added to the list where, from January 1, 2018 to December 31, 2022, a child with developmental disabilities was born. From 2021, parents with 1 child born during the above period can also participate in the program.

You can purchase with a mortgage loan:

· apartment in a new building (already commissioned or under construction);

· secondary housing (only within the framework of the Far Eastern mortgage, where it is possible to take out a family mortgage for the purchase of secondary housing in rural areas);

· a private house;

· townhouse;

· land for development.

Families who took out a mortgage to purchase a primary home before the birth of children at a higher interest rate can refinance it. To do this, you need to submit an application to the bank and submit all documents on real estate and a previous mortgage loan. However, refinancing is beneficial only if at least half of the term remains until full repayment and the difference in the rate is 1-2% or higher. You can contact the bank even if the mortgage has already been refinanced once.

To apply for a family mortgage, you need to carefully read the loan terms and requirements for borrowers. The client then submits an application for a specific program to the selected bank. The lender will send a preliminary response within 3 days. If it is positive, the borrower provides documents and begins to look for suitable housing.

In order for the financial institution to approve the application, you need to go through a housing assessment procedure. The borrower pays for the appraiser's services. If the apartment meets the bank's requirements, a loan agreement and a purchase and sale agreement are signed.

The bank evaluates each borrower. The loan amount must be feasible for the client, taking into account the term and size of the monthly payment (it should not exceed 40-50% of the family income). The borrower himself must also assess the financial burden. You can calculate overpayments and the amount of payment in advance using an online calculator.

Collateral property is insured. This is a guarantee to the lender that the borrower will repay the debt. Only after receiving insurance can you conclude an agreement with the bank and the developer.

After purchasing an apartment with a mortgage, the borrower can apply for a tax deduction.

Interest rates

Family mortgages are issued at a rate of up to 6%, in the Far East - at 5%. The financial institution sets the rate independently, and the state pays the bank the difference in interest.

Until 2021, the rate on a family mortgage was 6% only for the first 3 years of lending for families where the second child was born before December 31, 2022, or 5 years for families where the 3rd and subsequent child was born before the same date. If 2 children were born in a row, the preferential loan period was 8 years. Then the rate was equal to the key rate of the Bank of Russia + 2%.

Today, the rate remains unchanged throughout the entire loan term. When determining the rate, lenders take into account the borrower's CI, his income and the size of the down payment. For example, with a contribution of more than 50% of the cost of housing, the bank can reduce the percentage to 4-4.9%.

When applying for a loan, the availability of insurance is taken into account. Property insurance is mandatory, but the client may refuse to insure life and health. In this case, the bank has the right to raise the rate, but it still cannot exceed 6%.

Conditions for obtaining a family mortgage

The minimum down payment is 15% of the property value. Borrowers can use maternity capital as a contribution. In this case, after registration of ownership, they undertake to allocate shares to the children. If the apartment is sold after the mortgage is paid off, the children will be allocated shares in the new housing that are no less than they were before.

The lender does not issue a mortgage based only on maternity capital. He assesses the client's solvency.

The loan term ranges from 3 to 30 years, depending on the loan amount and the age of the borrower. At the time of repayment of the mortgage, the client must not exceed the upper age limit (in most banks it is 65-70 years).

The loan size depends on the borrower's income and the cost of housing. In Moscow, Moscow Region, St. Petersburg and the Leningrad Region, the maximum size of a family mortgage is 12,000,000 rubles. In the regions, this amount cannot exceed 6,000,000 rubles. The minimum loan amount for a family mortgage is 500,000 rubles.

Early repayment is allowed. Banks, as a rule, do not impose fines on it.

Documents required for registration:

· passports of the borrower and co-borrower;

· certificate 2-NDFL, extract from the Pension Fund (or income certificate in the form of a bank);

· a copy of the work book or contract;

· military ID for men under 27 years of age;

· birth certificates of children;

· certificate for maternity capital, if it will be used as a down payment;

· certificate of the amount of maternity capital from the Pension Fund.

If the borrower refinances an existing mortgage, he provides a loan agreement and a certificate of the remaining debt.

Parents who have a disabled child also provide a certificate of disability.

Maternity capital can be used to pay off the remaining debt. In this case, you need to submit an application to the Pension Fund, submit documents for housing, and a loan agreement. Within a month, the funds will be transferred to the bank if the Pension Fund does not detect any violations. After repaying the debt, parents allocate shares to their children.

Once the application is approved, the borrower has 3 months to find suitable housing. A family mortgage allows you to purchase real estate only from a legal entity (except for the Far East). The client chooses an accredited developer and buys an apartment on the primary market. It is impossible to buy housing from an individual, even if he bought an apartment in a new building recently and did not have time to register in it.

If the borrower buys property in a house under construction, ownership is registered after completion of construction.

The purchased property must be located on the territory of the Russian Federation, but not in a ZATO. The apartment or house must have electricity, sewerage, running water, heating (not stove). The depreciation of the house at the time of purchase should not exceed 70%. A private house should not be made of wood and be an item of cultural heritage.

An important condition is the absence of encumbrances and debts for utility services. You cannot purchase housing that is currently collateral. The bank will not approve the transaction if the apartment chosen by the borrower is on the ground floor. The absence of a kitchen is allowed, but a bathroom must be present.

If the borrower purchases a residential building from a legal entity, the premises should not be less than 80 m2 and more than 300 m2. The size of the land plot is no more than 4000 m2.

You can only buy housing on the secondary market from an individual in rural areas of the Far East. In other regions, only a legal entity can purchase a secondary property using a family mortgage.

Requirements for the borrower

Today, families with any number of children can get a family mortgage, but at least one child must be born before 01/01/2018. Parents who have officially adopted a child can also apply for a preferential mortgage.

The borrower must be a citizen of the Russian Federation and be registered in the country. Age limits may vary depending on the financial institution. Banks issue mortgages to clients over 20 years of age. At the time of full repayment of the debt, the age of the borrower should not exceed the upper limit (65-75 years).

Mortgage loans are issued only to officially employed citizens who can document their income. The total work experience must be at least one year, in the last position - at least 3 months.

Families with children (where marriage is officially legalized) and single parents with children can count on a family mortgage. If the family has children from different fathers, the mother submits the application. The spouse who plans to act as a co-borrower must be the father of the youngest child born after 2021. The presence of other housing in the property or a share in an apartment or house does not matter.

Spouses are always co-borrowers, except in cases where a marriage contract is concluded, which contains a clause on separate property. Additionally, you can attract up to 4 co-borrowers. Their income will be taken into account when considering their application. Co-borrowers must meet the same parameters (age, length of service, presence of official employment). Regardless of whether they are allocated a share in the purchased property or not, they take responsibility for paying off the debt if the client cannot repay it.

Insurance of collateral housing is required. It is necessary to conclude an insurance contract after receiving a property registration certificate.

Family mortgage is a federal program, but the bank reviews the application and makes a decision on issuing a loan. If the borrower has a bad credit history, has had litigation with banks, courts, delays, or does not have an official stable income, the financial institution may refuse to issue a mortgage.

State support

The program will last until December 31, 2022, but if the child was born after July 1, 2022, parents can apply for a preferential mortgage until April 1, 2023 (until 2027 for families with a disabled child). It can be combined with other preferential programs, for example, with a military mortgage.

Large families can also count on a subsidy of 450,000 rubles to pay off the mortgage (after the birth of the 3rd or subsequent child).

Not all banks issue family mortgages. At the moment, the list of financial institutions that work with this program includes about 50 banks. They can independently set requirements for borrowers and regulate the list of documents. Loan conditions and rates vary from financial institutions.

To get a family mortgage at a low interest rate, you do not need to visit the administration and issue a participant certificate. It is enough to apply for a specific program at the bank. The financial institution will check the data and, if approved, provide a loan on preferential terms.

On the Banki.ru website you will find offers from leading financial institutions, you will be able to compare conditions and choose the most profitable option. Browse the directory, select a lender, and submit your application online.

Author: Inna Soldatenkova Leading expert of the banking services analysis department of Banki.ru