Mortgage with state support: how to use it?

Due to the insufficient level of social housing and too slow to ensure the needy and waiting the real estate, the state began a program of financial support for families with the purchase of apartments.Along with the possibility of making money from "maternity capital" and receive a tax deduction, buyers can now arrange subsidies for housing.

To find out what is a mortgage with state support, and what categories of families can count on the assistance required to apply to the local executive authorities.There also should be given the necessary set of documents for the registration certificate for the provision of subsidies: the application, passport, marriage certificate, documents that confirm the need to improve housing conditions, and others.The state is ready to finance up to 40% of the cost of housing (when buying using the program "Mortgage with state support").

The reality does not look so rosy.Firstly, it is necessary to obtain subsidies that the family was recognized as a solvent.For mortgages with state support provides that the remainder of the cost of housing "social unit" pay from its own funds.Second, when calculating the amount of subsidy used two indicators: the value of living space per person (currently set at 18 square meters for a family of three), and the average price of 1 space in Russia.

It is clear that the application of the latter figure is justified only in order to save public funds, because the price of housing in Moscow and in the village above the Arctic Circle is ten times worse.Thus, mortgages with state support can be beneficial, but only one category of the population that is able to purchase a house in a big city and without involving any subsidies because the actual amount of compensation will be at 40%, and only 10-15% (the acquisition of an apartment in the city).

among all Russian banks in this program work only "VTB 24" and "Sberbank".Mortgage with state support in these organizations provides loans of up to 80% of the cost of housing (given that the actual amount of subsidy is often less than 20%, it is clear that part of the initial contribution the family still have to accumulate).The lending rate is 11%, the term - up to 30 years.Also, the borrower is given the opportunity to use the maternity capital to pay off and get a tax deduction for the interest paid.

Obtain a certificate for the grant usually it takes a few months, as the application will be considered in the executive authorities at all levels.Considering the monthly rise in house prices in major cities, it is safe to say that in today's real estate market and using the average prices for housing in settlements, mortgages with state support has almost no meaning.