What is a family mortgage and how to get it

What is a family mortgage

The mortgage lending program with state support has been operating since 2018. Thanks to this scheme, families with children can take out a home loan at a lower interest rate than their childless fellow citizens. And part of the profit that banks do not receive because of such a rate is compensated by the state.

Naturally, being a parent is not enough, there are additional conditions in the program. Since 2018, the document has been repeatedly clarified and changed. Let's figure out what requirements are spelled out in it now.

Who can take a family mortgage

Since July 2021, the program has been expanded. Now, in order to qualify for a family mortgage, it is enough to have a child who was born between January 1, 2018 and December 31, 2022. In this case, the baby can be both the first and any subsequent one. You must apply for a loan before March 1, 2023.

An exception is made for families raising a child with a disability. First, there are fewer age requirements. A son or daughter must be born before January 1, 2023 and be under the age of 18. Secondly, you can apply for a loan by the end of 2027.

Both the parent-borrower and the child must be citizens of the Russian Federation.

Any of the baby's parents are allowed to apply for a loan. Moreover, they do not need to be married to each other.

What are the conditions for a family mortgage

The program has a 6% rate. But for residents of the Far Eastern Federal District who buy real estate in the same region, it is even lower - 5%. The preferential rate is valid for the entire term of the loan.

In a family mortgage, you can take up to 6 million rubles. For Moscow, St. Petersburg, Moscow and Leningrad regions, the limit is higher - 12. This does not mean that the entire cost of housing should be within this amount, only a loan.

The minimum down payment is 15%. You can contribute more, but not less.

At the same time, it is allowed to both take a new loan and refinance an existing one, if it is issued for housing that is suitable for the conditions. Moreover, even when the loan has already been refinanced, it is allowed to do it again within the framework of the program.

What kind of housing can be bought under the family mortgage program

There are limitations here. It is allowed to pay at a low interest rate:

An apartment in a new building. The contract must be concluded with a legal entity - except for the management company of the investment fund. You can buy housing in a rented or a building under construction - both purchase and sale contracts and equity participation are suitable.
Finished house with a plot. You will also have to purchase it from a legal entity. Here there is another option - you can buy housing, which in fact does not yet exist. The contract indicates that the legal entity or individual entrepreneur undertakes to complete the building and transfer it to the buyer in the future.
Construction of a house - provided that it will be erected by a contractor-legal entity or an individual entrepreneur. Creating a building with your own hands within the framework of the program will not work.
Plot with the subsequent construction of a house on it. Here, similarly, work should be carried out by a legal entity or individual entrepreneur.

That is, the key condition is the purchase in the primary market from a legal entity. There will be no way to buy secondary real estate at a discounted rate. An exception was made only for residents of the Far Eastern Federal District. In rural settlements, they are allowed to buy houses and apartments in both the primary and secondary markets.

What to remember

A mortgage at 6% (and in the Far Eastern Federal District - at 5%) can be taken by a citizen of the Russian Federation, whose child was born from January 1, 2018 to December 31, 2022. And it doesn't matter what he is.
You can buy an apartment or a finished house from a legal entity. Or build your own - but also with the involvement of a legal entity or individual entrepreneur. The secondary market under the program is available only in rural areas of the Far Eastern Federal District.
You can take up to 6 million, and in Moscow, St. Petersburg and the surrounding regions - up to 12. The initial payment is 15%.
The preferential rate is valid for the entire term of the mortgage.