Quite often, young people take out a loan. A youth housing loan can be provided to young families and single young citizens for up to 30 years. However, there are several conditions that affect the granting of a loan.
Instructions
Step 1
A young family or a single citizen must be no older than 35 years old. Otherwise, the loan cannot be provided. A person who wants to get a soft loan must be registered at the place of residence, as requiring better housing conditions. If a young man decided to use the services of commercial banks, then the line of apartments and registration at the place of residence is not required. It is imperative to provide a certificate from the place of work about the spouses' income for the last 12 months. Proof of the family's solvency is required in any case. The cost of repaying the loan and utility bills should not exceed 50% of the total family income per month.
Step 2
A loan applicant must make a first installment to his personal account, which is 6 percent of the construction cost. A personal account must be opened by a regional branch of the State Fund for Assistance to Youth Housing Construction in an agent bank. The loan, as well as interest on it, must be paid by the young man from the moment he received a home. The official date of registration of the certificate of ownership of the constructed housing is established. It is necessary to repay the loan that was provided for the purchase of housing, as well as to pay interest from the moment when the contract was concluded. In most cases, early repayment of the loan is allowed.
Step 3
The rules for repayment of the loan, as well as the payment of interest on it, must be clearly spelled out in the agreement. Most often, fees are paid on a quarterly basis. It should be borne in mind that the fee must be paid no later than the last day of the quarter. The money must be transferred to the account of the regional branch of the Fund through an agent bank. The first installment can be paid in two installments.
