In accordance with the legislation, maternity capital can be used to improve housing conditions. You can use these funds to make an initial payment when receiving a mortgage loan or to pay off an existing principal debt.
It is necessary
maternal capital
Instructions
Step 1
Contact a credit institution to get you a certificate on the amount of the balance of the principal debt and the amount of interest accrued for using the mortgage loan. To do this, you must write an application to the bank in the form established by this organization. Also, along with the application, you need to provide a certificate for maternity capital. The term for issuing a certificate depends on the bank from which you took the loan. Some of them issue a document no later than three days from the date of the request, some may issue a certificate only after ten working days.
Step 2
As soon as you receive this certificate, contact the Pension Fund branch, which is located at the place of your registration. Write there an application for the transfer of maternity capital funds to the bank in repayment of the mortgage loan. Attach to your application and a bank statement a copy of the loan agreement, a copy of the agreement for participation in shared construction, permission to build a house, certificate of state registration of ownership of the property.
Step 3
Your application can be considered within three months before a decision is made to issue funds. Usually this process does not exceed two months, after which the Pension Fund sends the money to the bank's current account. The credit organization must transfer these finances first to the borrower's account, and then write them off to pay off the debt.
Step 4
It should be borne in mind that the Pension Fund may refuse to issue maternity capital if the borrower wants to pay off the accrued fines and penalties in this way. Another refusal is possible if the land plot is much more expensive than a residential building.
Step 5
After the amount of debt is reduced, bank employees must change the repayment schedule. Two options are possible here. First, you can reduce your monthly payment, but keep the entire payment deadline. Or, on the contrary, the payment term will decrease while maintaining the monthly payment amount.
