Currently, banks offer various lending programs, one of which is the provision of a loan against maternity capital. This program allows you to use funds received from the state for the purchase of housing.
Instructions
Step 1
In order to get a loan against maternity capital, you need to contact the bank that carries out such operations. You will notice that the loan conditions are quite attractive. As a rule, the amount of the initial payment can be no more than 10% of the cost of housing, the maximum loan term is 30 years. Usually, when providing a loan against maternity capital, guarantors are not required. But if your income is not sufficient to get the required amount, you can take a co-borrower, whose income will be taken into account when calculating solvency. A close relative (parent or spouse) must act as a co-borrower.
Step 2
As for the interest rate, it will depend on the term of the loan, the size of the down payment, the presence of a credit history in the bank. The interest rate may also depend on the availability of a personal insurance contract concluded in favor of the bank. Be prepared for the fact that in some credit institutions such an agreement is a prerequisite for granting a loan.
Step 3
In order to get a loan, you should provide the loan officer with a certificate entitling you to receive maternity capital. The bank, on the basis of documents confirming your income, the amount of the initial payment, depending on the loan term, will calculate the maximum possible loan amount. Then the size of the maternity capital is added to it. Thus, it is assumed that, having received a loan for housing, you will pay off part of the debt with the help of maternity capital.
Step 4
The bank will provide you with the loan amount, which will be split into two parts. You will receive one of them at a rate set depending on the term of the loan and the amount of the down payment. You will extinguish it yourself from your own funds. The second part of the loan will be equal to the amount indicated in the certificate. That moment, until the Pension Fund transfers the maternity capital funds to the bank, you will pay interest for using the money at a rate equal to the refinancing rate of the Central Bank.
