Tinkoff announced the launch of the Family Mortgage program. Customers with children can apply for a soft loan to buy a home from a developer at a rate of 5.1%.
According to experts, in 2023-2024, 240,000 Russians will benefit from preferential family mortgages. Remember, “Family Mortgage” is a housing loan program for Russian families with children, which allows them to obtain a mortgage at a reduced rate. The difference between market rates and preferential rates to banks is compensated by the state.
The program was launched in 2018. During this time, more than 400,000 families have already taken advantage of it. Late last year, the government extended the program until July 1, 2024, and expanded the conditions.
Who can receive and how much
Under the new terms of the program, families with two or more children under the age of 18, families with a child born after January 1, 2010, or a minor child with disabilities can receive a mortgage at a reduced rate. Mortgages can be used to purchase any apartment purchased from the developer. In the Moscow, St. Petersburg, Moscow and Leningrad regions, loans will be provided in the amount of 500 thousand to 12 million rubles, in other regions – up to 6 million rubles. The maximum term is 30 years. The down payment must be at least 20% of the cost of the apartment (by the way, it can be done with the capital).
How to get a soft loan
More than 50 banks participate in the Family Mortgage program. The conditions of each one are different. For example, in Tinkoff a rate of 5.1% can be received by customers who have issued a life and health insurance service. Without this, it will be 5.8-6%.
The loan is issued completely remotely, minimum documents are required: only a passport, SNILS and a birth certificate for children. You can apply for a mortgage on the bank’s website or application, as well as through the developer. The decision will come in a few minutes.
Then the developer draws up a joint construction participation contract for the selected apartment, and the borrower files an application to open an escrow account at the bank with which the developer works. All transaction support (including free submission of documents to Rosreestr) will be provided by the bank.
All documents are certified by an enhanced qualified electronic signature. These are the security requirements. To do this, you will need to sign an electronic signature request. It can be taken home or to another place at a convenient time.
In accordance with the rules of the program, family mortgages can be refinanced. True, only if the previous mortgage was taken from another bank for the purchase of housing from the developer. By the way, those who have issued a mortgage in another bank before the birth of a child can also use refinancing.