Mortgage loan for maternity capital. Banks working with maternity capital

Maternity capital provides an excellent opportunity to buy or expand residential real estate. Most large banks in Russia will accept it as an initial contribution to mortgage lending. If you are the owner of maternity capital and need to improve your living conditions, then this article will be of interest to you.

Maternity capital can be invested in a mortgage not only when buying an apartment, but also in the construction of a private house, as well as in shared construction. It’s just that each case has its own nuances. But what they have in common is that upon completion of paying off the mortgage debt, the property that you purchased with its help will need to be registered in the name of all members of your family, including children. If this condition is violated, you may face major troubles, because... this will be considered a violation of the law. If you plan to deposit maternity capital in lending as a down payment, it is worth considering that this will be possible only after the child, after whose birth this capital was issued, reaches three years of age. It was simply impossible to use it for these purposes before. The same applies to guardians who adopted a child. The main conditions for obtaining such a mortgage are, of course, that the family has the certificate itself and a constant cash income of at least average. If a family already owns living space, then it will no longer be able to use maternity capital in such a role.

On our website.

Unfortunately, maternity capital is not yet accepted by all banks as an initial contribution to a mortgage. It is more welcome in the role of repaying an existing mortgage or its interest. Therefore, a list of banks that accept capital as a down payment will be useful to you. It includes: Sberbank, VTB24, Uralsib, Otkritie Bank, DeltaCredit, Unicredit and Metcombank.

If you have probably decided that you will use the capital specifically in mortgage lending, then the first thing you need to do is get a certificate from the Pension Fund about the remaining amount of maternity capital in your personal account. You need to apply to the Pension Fund with your passport and capital certificate. The certificate is prepared within no more than three days.

Can be downloaded here.

When approving a mortgage, the bank of your choice will need the following package of documents:

Passport;
Certificate from the Pension Fund about the balance on the MSK personal account;
Form 2-NDFL from the previous place of work;
Contract of purchase and sale of housing;
Extract from the State Register;
Documents of co-borrowers.

Currently, banks provide mortgages for different conditions. Therefore, first of all, you need to consult with the leading manager of the bank you have chosen, who is competent in the field of mortgages. Only then will you know the exact details of the conditions for obtaining a mortgage with the investment of maternity capital.

Improving housing conditions is a priority for using maternity capital. It is for this reason that a mortgage loan against maternity capital is very popular among those families who have received the right to state support as capital.

Directions for using maternity capital within mortgage lending

If a family decides to use maternity capital to improve their living conditions through mortgage lending (repay the mortgage with maternity capital), then it must be remembered that there are three main options for using family capital:

Repayment of principal and interest on a previously issued housing loan. This is possible when working with Sberbank, DeltaCredit Bank.
Using maternity capital as down payment for a newly issued mortgage loan. This is possible at the Bank of Moscow, at VTB24 Bank, at Nomos Bank, at DeltaCredit Bank.
Increasing the mortgage amount due to equity when purchasing a home that is more expensive than your income allows. This can be done at Rosbank, Izhkombank, Tver Mortgage Center, the Agency for Housing Mortgage Lending, and UniCredit Bank.

Features of the use of maternity capital within the framework of mortgage lending

The main features of the use of maternity capital within the framework of mortgage lending are the following:

Firstly, maternity capital is not cash, but simply the family’s right to government assistance, confirmed by an appropriate certificate. Therefore, the understanding of capital as something that can act as collateral for a loan or as security for it is incorrect.
Secondly, not every bank accepts maternity capital in the form of payment on the principal debt and interest on the use of loans. It is even more difficult to use maternity capital in the form of a down payment on a mortgage loan.
Thirdly, maternity capital can be used to purchase any housing (built, under construction, at the project stage), but this can only be done through direct purchase and sale or construction.
If maternity capital is used as part of mortgage lending, then the type of housing purchased is determined by the bank and the specific loan product: some banks (loan products) work only with new buildings, others, on the contrary, with secondary housing.
Fourth In order to use the capital to repay a previously issued housing loan, there is no need to wait until the child’s third birthday or the expiration of a three-year period from the date of adoption of the child. However, in order to use family capital for the down payment on a mortgage loan, you must wait a three-year period.
Fifthly, when purchasing housing with capital funds (or part of the funds), the residential premises must be registered as the common property of all family members (parents and all children).

Banks working with maternity capital

We can name the following banks that in 2014 issue mortgage loans against maternity capital (that is, accept family capital in the form of a down payment) and/or repay housing loans with maternity capital funds:

DeltaCredit Bank. This bank issues a loan for housing using maternity capital with a minimum down payment of no more than 5%. Family capital funds can be used to make a down payment and to repay the principal and interest on the loan early. The bank takes into account the solvency of the applicants, as well as the remaining amount of maternity capital when calculating the maximum loan amount in order to work with maternity capital;
UniCredit Bank. This credit institution allows you to use maternity capital to pay off your mortgage;
Sberbank. This bank works exclusively with ready-made buildings and issues loans at a rate of 14% per annum for a maximum of 30 years. Residential premises purchased using Bank loan funds must be registered as the property of the borrower/common shared property of the spouses and his/their children;
Bank of Moscow. This banking institution does not yet accept maternity capital as a down payment, but it repays the principal amount of mortgage loans and interest on it;
VTB24. In this bank, the rate on housing loans is 11% or higher, and loans are issued for a period of up to 50 years. This year, VTB24 Bank provided the opportunity to use maternity capital as a down payment on a mortgage;
Nomos Bank. This bank relatively recently began working with maternity capital, but has already been able to offer a very profitable loan product that allows you to effectively use capital funds to improve housing conditions;
Rosbank. This bank offers borrowers to expand their opportunities to purchase housing on credit by repaying loan debt with capital;
Izhkombank. The bank offers loans for the purchase of residential premises and for the completion of construction of an unfinished construction project;
Tver Mortgage Center. Working with this institution will allow you to purchase more comfortable housing by increasing the loan amount without taking into account bank restrictions;
. This credit institution offers profitable mortgage loans with capital raised as a down payment and as amounts to repay the principal and interest on the loan.

Below is a table differentiating the type of housing (under construction, finished, primary or secondary) with which the above banks work.

Bank	Under construction	Ready
DeltaCredit Bank	+	+
UniCredit Bank	-	+
Sberbank	+	+
Bank of Moscow	+	+
VTB24	+	+
Nomos Bank	+	+
Rosbank	+	+
Izhkombank	-	+
Tver Mortgage Center	+	+
Housing Mortgage Lending Agency	+	+

Bank interest rates on mortgage loans using maternity capital

Let's consider bank interest rates on loans in which parent capital is allowed to be used. Interest rates are indicated in accordance with the terms of each loan product.

Banks working with maternity capital	Credit products	Interest rate
DeltaCredit Bank	DeltaEconomy	from 13%
	DeltaStandard	from 7% to 10%
	DeltaRublevy	from 10% to 13%
	Delta Option	from 6% to 9%
	DeltaDream	from 11%
UniCredit Bank	Loan for the purchase of an apartment or cottage	from 12% to 13%
Sberbank	Purchase of housing under construction	12%
Sberbank	Purchase of finished housing	from 12% to 13%
Bank of Moscow	Mortgage + maternity capital	from 11.9%
VTB24	Secondary housing	from 11.95%
VTB24	New building	from 12.95% to 13.95%
Nomos Bank	Apartment + Maternity capital	from 12.25% to 14.5%
Rosbank	Standard	from 12.35% in rubles, from 9% in dollars and euros
	New building	from 13.3% in rubles, from 10.75% in dollars and euros
	Country real estate	from 12.6% in rubles, from 9.75% in dollars and euros
Izhkombank	Maternity capital	from 8.95% to 11.95%
Tver Mortgage Center	Maternity capital plus	(calculated as a percentage of overpayment on the loan) - from 50% to 80%
Tver Mortgage Center	Maternity capital plus + House	(calculated as a percentage of overpayment on the loan) - from 50% to 70%
Housing Mortgage Lending Agency	Maternity capital	from 7.65% - when working with the primary market, from 8.95% - when working with the secondary market

Documents required when using maternity capital

Each bank's package of documents will be different. Below is a standard package of documents that any bank may need to complete mortgages when a family uses maternity capital:

Maternity capital certificate - original and copy;
A certificate from the local branch of the Pension Fund about the amount of the family capital balance in the family account;
Certificate 2-NDFL (certificate of income for the last six months);
Copies of the most recently completed and submitted tax returns (mother's and father's);
Documents confirming the income of close relatives (regardless of whether they will be guarantors for the loan);
Applicant's passport;
All documents related to the residential premises being loaned.

How to use maternity capital in banks: step-by-step instructions

To apply for a mortgage when using maternity capital in the form of a down payment, you must follow the following sequence of actions. Remember that you can use capital in this direction only after three years or more have passed since the birth or adoption of the child.

Receive a certificate for maternity capital, select residential premises to purchase it with a mortgage.
After receiving a certificate from the Pension Fund and concluding a contract for the sale and purchase of residential premises, you need to contact the bank with a full package of documents (see above).
The bank will consider an application for a loan and the use of capital as a down payment on a loan from several days to a month.
After approval of the loan application, the bank will issue a preliminary letter of confirmation of the loan and notify the borrower of the deadline for transferring maternity capital funds to make the down payment.
Having received a preliminary letter about the issuance of a loan, the borrower must contact Pension fund to transfer capital funds. This is done in order to request a certificate from the Pension Fund about the amount of capital balance (even if they have not been used at all previously).
Go to the bank and apply for a loan. Receive copies of all mortgage documents.
Contact the Pension Fund with an application (with a loan agreement and a mortgage agreement attached) to deposit capital funds into the bank account.

In the list of financial institutions Russian Federation who have the right to work with maternity capital, Sberbank rightfully occupies one of the leading places. The main advantage of using this type of benefit at Sberbank is the possibility of obtaining a housing loan in the amount of 100% of the cost of housing.

Thousands of families have already taken advantage special program"Mortgage plus maternity capital." Until now, funds could only be used to repay an existing mortgage loan. But since 2013, family capital has also been used to make a down payment on both finished and under construction housing. There are several loan programs in which benefits can be used to improve housing conditions.

Sberbank loan programs

How to pay off a mortgage with maternity capital?

Family capital can be used to pay off an existing mortgage loan.

What steps need to be taken in this direction?

Receive a standard certificate from a Sberbank branch containing the following information:
1. The amount of the mortgage balance (principal and interest);
2. Type of lending;
3. Data on overdue debts, if any.
With this certificate, contact the nearest branch of the Pension Fund, where, using the established form, you need to write an application for the transfer of maternity capital to pay off the mortgage. The application must be reviewed within 1-2 months, then the benefit will be transferred to the bank as early repayment part of the mortgage debt.

Detailed description of loan products using maternity capital

Loan for the purchase of finished housing

A loan for finished housing can be provided for a period of up to 30 years inclusive in an amount from 45,000 rubles to 85% of the estimated/contractual value of the property. The down payment is at least 15%.

Advantages:

No loan fees;
Insurance against various risks of collateral is mandatory;
The housing being financed or any other property can be used as collateral;
Three people can be involved as co-borrowers (the size of their income will affect the amount of the possible loan);
Benefits are expected in the form of a reduced interest rate and softer requirements in terms of proof of employment of the borrower.

The disadvantages include:

Strict requirements for borrowers. To obtain a mortgage, the minimum work experience at the last place of work must be 6 months, the total work experience must be at least 1 year;
To confirm income, an extensive package of documents is provided: certificate in form 2-NDFL, tax return, certificate of receipt of pension. Only official income is taken into account: wages at the main/second place of work, declared profits from the business and a number of social benefits: pensions, temporary disability benefits.

Loan for the purchase of housing under construction
Most of the conditions for this loan program are similar to the previous one with all the advantages and disadvantages. The main differences include the procedure for registering a pledge.

Any premises other than the one being financed are accepted as collateral. A single loan rate applies throughout the entire lending period. When registering housing under construction as collateral until the mortgage is registered, the interest rate increases by 1%. If the loan amount is less than 300,000 rubles, registration of housing as collateral is not required.

What are the conditions for obtaining a mortgage loan from Sberbank using maternity capital?

The main conditions for obtaining a mortgage from Sberbank are the following:

Only the holder of the certificate will be able to become an applicant for the transfer of maternity capital funds; he must personally present this document to the bank.
Sberbank provides a mortgage loan for the purpose of purchasing square meters on the secondary housing market and in new buildings.
When purchasing an apartment, it is necessary to register common shared ownership of all members of the borrower’s family: husband, wife and all children (optional), establishing the specific share of each of them.

Within 6 months from the date of granting the loan, you should contact the nearest branch of the Pension Fund of the Russian Federation with an application regarding the transfer of maternity capital funds to repay the loan and interest on it.

List of documents for obtaining a mortgage

When applying for a mortgage loan from Sberbank, you will need a number of documents: a standard set and an additional one, in accordance with the provisions of the “Mortgage plus maternity capital” program.

Standard package of documents:

Application form of the borrower on the Bank's letterhead;
Application form of a co-borrower/guarantor/mortgagor of an individual;
Copies of all pages of the passport of the borrower, guarantor and/or Pledgor with presentation of the original;
Documents relating to the employment and financial status of the borrower/co-borrower/guarantor, which indicate the amount of the Borrower’s income and guarantor and deductions from them:
- Those working at enterprises provide a certificate of employment for the last six months on Bank letterhead;
- Those working for an individual entrepreneur - a certificate for 6 months on the Bank's letterhead, a document in form 2-NFDL and an employment contract.
Documents relating to the purchased real estate, in particular, a purchase and sale agreement, a copy of the certificate of state registration of the seller’s ownership of the apartment, an extract from the Unified State Register of Rights to Real Estate and Transactions with It, and others;
A certificate certifying the availability of the down payment (this can be an account statement or payment receipts).

For a loan amount exceeding 200,000 rubles, a guarantee from a spouse is required.

Additional package of documents for the “Mortgage plus maternity capital” program:

State certificate for receiving maternity (family) capital.
A document on the balance of family capital in the applicant’s account, provided by the branch of the Pension Fund of the Russian Federation. It must be provided no later than 4 months from the date the Bank adopted a resolution on the possibility of issuing a mortgage loan.
Certificate of income of the applicant himself and his co-borrowers.

Examples of repaying mortgage loans using matkapital

Purchase of housing under construction

Let's say the borrower's average monthly income for 6 months is 40,000 rubles. with a loan term of 120 months, a down payment of 50% and the start of payments on 06/13/2014. In this case, we get the following payout algorithm:

Purchase of finished housing

Let’s say the borrower’s average monthly income for 6 months is 30,000 rubles. with a loan term of 60 months, a down payment of 50% and the start of payments on 06/13/2014. In this case, we get the following payout algorithm:

How to get a loan and pay a down payment?

Those wishing to use maternity capital as a down payment on a mortgage at Sberbank must provide the bank with two documents: the certificate itself and a document from the territorial office of the Pension Fund about the balance of maternity capital.

This certificate is submitted to the nearest branch of the Pension Fund, where, according to the established form, you need to write an application for the transfer of maternity capital as a down payment. After reviewing the application, the necessary funds will be transferred to the bank.

For many young families, mortgage lending is the only opportunity to purchase housing. Prices for square meter in new buildings and secondary housing, which are established in the modern market, it is not possible to purchase an apartment without installment payment. For families raising two or more children, maternity capital can be a good help in obtaining a mortgage. Thus, the main Russian financial regulator Sberbank issues mortgages against maternity capital on favorable terms. You will learn how to get a loan for maternity capital from this article.

What is maternity capital and how to get a loan for it

Maternity capital is a measure of state support for young families who have given birth to or adopted two or more children. Is it possible take out a loan against maternity capital? The answer is clear - yes! But there are some rules.

Maternity capital can be spent on various purposes: children’s education, mother’s pension, etc. But the main way to spend payments is still to improve housing conditions.

Of course, there are cases when maternity capital is denied. There can be many reasons for non-issuance of a certificate.

Lack of grounds for extradition;
termination of the grounds for receiving additional measures of state material support;
deprivation of parental rights of a spouse;

Maternity capital becomes a good help for obtaining a mortgage. It can be used in full to pay the down payment on the mortgage, and you can also add your own savings to it, thereby increasing the payment amount. In addition, maternity capital can be used to pay off current payments. Using maternity capital, you can buy an apartment with a mortgage in a new building or on the secondary market, exchange old housing for a new one, participate in shared construction, build your own private house etc.

Since 2016, the payment amount was 453 thousand rubles; in 2017, until 2020, there will be no changes in the amount of family capital (indexation) due to the influence of inflation and other financial reasons.

How to get a loan for maternity capital

Thanks to the program “Mortgage plus maternity capital in Sberbank large families can quickly obtain a home loan.

To send a maternity capital certificate to pay the down payment or part of the loan payment, the following conditions must be met:

since maternity capital can be used in parts, it is necessary to obtain certificates from the pension fund about the remaining subsidy amounts and submit them to Sberbank upon request;

in order to use maternity capital to pay off part of the loan debt, you need to get a certificate from Sberbank about the amount of the loan and draw up an application to repay part of it;

in order to transfer maternity capital to the bank, you must also submit an application to the pension fund;

To pay the down payment, you must provide a copy of the loan agreement or mortgage contract.

To repay the loan in installments, you must submit the following documents to the pension fund:

How to get a loan from Sberbank

An application for a mortgage loan and a complete set of documents is submitted to a branch of Sberbank or a partner bank.

After submitting the documents, you must wait for a positive decision on the loan.

The next step is to select a property - for example, an apartment in a new building or on the secondary housing market.

Documents for this property are also provided to Sberbank.

After this, the two contracting parties (borrower and Sberbank) sign the necessary loan documentation.

Rights to real estate are registered in Rosreestr.

The home loan application is fully approved and the loan amount is disbursed.

What are the conditions for obtaining a mortgage loan?

A young family can use maternity capital to pay off a mortgage at Sberbank if they comply with certain conditions. Firstly, it is necessary to comply with the conditions for granting a mortgage and the requirements for mortgage borrowers:

mortgages are issued to citizens over 21 years of age;

the age of the person paying the mortgage at the end of the loan term should not exceed 75 years;

mortgages are issued only to citizens who have been officially employed for the last six months;

if the payer cannot confirm his solvency, he must attract three co-borrowers or guarantors.

In order to use maternity capital to pay a mortgage, you must also fulfill the conditions for lending with maternity capital:

housing (apartment, etc.) purchased with a loan must be registered as the property of the borrower or as common shared property with his spouse and children;

if the borrower does not receive a salary from Sberbank, he must document his employment and solvency or attract co-borrowers and guarantors;

within six months from the date of issuance of the loan, the borrower must contact the pension fund to transfer the capital.

To take out a mortgage on an apartment with maternity capital, in addition to the usual documents for obtaining a loan, you must also provide the following documents to the bank:

state certificate for maternity or family capital;
a certificate from the pension fund about the balance of funds in the maternity capital account.

Now citizens can independently control through the Online Personal Account the execution of submitted applications by PF employees.

What are the advantages of a loan from Sberbank

When choosing a lender to obtain a mortgage, many young families choose Sberbank. Firstly, this bank is the most stable; all financial actions are insured there. In addition, Sberbank offers its clients the following advantages:

favorable loan interest rates;
no commissions or other security fees;
loan benefits for young families;
individual conditions for each client (review of applications and service);
special conditions for clients who receive salaries on Sberbank cards or work in organizations accredited by the bank;
possibility of increasing the loan amount by attracting co-borrowers.

How to calculate interest rates and mortgage overpayments

Among additional information indicates whether the borrower is the recipient of the salary on the Sberbank card. For a more accurate calculation, you can also indicate the amount of pension, additional earnings, number of family members, monthly income and expenses, payments on other loans, and so on.

Using the Sberbank website, you will receive preliminary information about the loan amount, interest rate, amount of overpayment, loan term and repayment schedule. With these numbers, you need to contact a Sberbank branch and clarify all the details.

Is it possible to spend maternity capital on buying a car?

In addition to mortgage lending, maternity capital can be spent on children’s education, mother’s pension, repayment of other loans, etc. It is not yet possible to purchase a car using maternity capital funds. However, this issue is already being discussed in the State Duma. Deputies of several factions submitted it for detailed discussion, the results of which will become known in the near future.

VIDEO - Interview with a lawyer about family capital

In times of economic crisis, young families with children can rarely buy an apartment or a private house with their own funds. Therefore, today a mortgage against maternity capital has become a popular way of purchasing real estate. At first glance, this procedure is simple and transparent, but this is not entirely true.

Before you sign the necessary papers, you need to clearly understand that a mortgage for maternity capital has a number of features. In this article we will talk about important nuances accompanying registration mortgages for maternity capital, about the required package of documents and how to transfer maternity capital as a down payment.

Mortgage contribution with maternal capital

Maternity capital allows a family to receive cash, which the state guarantees her after the birth of her second and subsequent children. This help has clear goals, so the family can spend it on cases that are prescribed by law. The most popular is the acquisition of real estate, including through mortgage lending.

To obtain a mortgage, you can use maternity capital in the following ways:

To pay off the down payment.
For a promissory note.

There are difficulties here - not every financial organization is ready to accept maternity capital as a down payment. Despite this, there are banks that are willing to accommodate young families, and the interest rate on such loans will range from 9% to 14% per annum.

In addition, it is not prohibited to repay an already taken mortgage using a maternity capital certificate, and you can do this at any time from the moment you receive it.

Conditions for repaying a mortgage with maternity capital

In order to get a mortgage using maternity capital, a family needs to meet the requirements set by the bank. In most cases, these requirements are standard, and when you apply for a mortgage, you need to familiarize yourself with the following list:

When a mortgage is issued, only the consumer’s official income will be taken into account. That is, “white” wages. That part of the salary that is given “in an envelope” can only be taken into account as additional or unstable income.
The family must have a good, stable income, and at the last place of work the work experience cannot be less than 6 months (a number of financial institutions raise this bar to 3 years), and for the last five-year period the work experience must be more than 12 months.
When residential real estate is purchased with a mortgage, it mandatory must be registered as shared ownership for each member of the borrower's family.
A mortgage against maternity capital is possible if the consumer does not own real estate to live in.
The future borrower must have a good credit history.

If you decide to use maternity capital funds to pay off the down payment, you need to contact the Pension Fund and receive a certificate, which will act as a guarantor for receiving government assistance for families with two or more children.

When the certificate is in hand, the borrower will have to start looking for a bank where he will apply for a mortgage. When the choice is made, the borrower provides the bank with a copy of the certificate and signs the mortgage agreement. Next, a purchase and sale agreement is concluded, which will need to be registered in the register of real estate rights.

Please be aware that maternity capital funds cannot be obtained in cash.

Once you have the entire package of documents that confirm the right to real estate (certificate of registration of ownership, purchase and sale agreement), you are sent to the Pension Fund with a certificate and passport. There you will be asked to write an application for the transfer of funds to the current account of the bank lending you to repay the down payment. If you have lost your certificate, the Pension Fund will issue you a duplicate.

Documents for repaying a mortgage with maternal capital

To get a mortgage using maternity capital, you need to provide a certain package of documents when applying to the bank.

The list may undergo changes depending on what individual requirements for the borrower are established in a particular bank. The list includes:

Certificate for receiving maternity capital.
Documents that confirm the identity of the borrower. This could be a passport, SNILS, or a certificate of registration with the tax authority of the Russian Federation. A bank employee may also ask for driver’s licenses, international passports and other documents.
Documents that can confirm that the potential borrower is solvent. You will need to take a certificate from your place of work. You need a certificate in the bank's form, which is a certificate of the borrower's income, certified by the employer's seal. As a rule, this paper reflects the size of the bonus or salary received “in envelopes”. If the borrower has additional sources income (for example, renting out movable property or a garage), then you need to contact the tax office and get a certificate there. You also need a certificate stating that the borrower has no debt on mandatory payments.
Documents related to the property being purchased: a certificate from the BTI, an extract from the house register, a registration certificate of the premises.
Documents that record the conclusion of a transaction for the purchase and sale of real estate for living. A statement of the obligation to register the premises as common shared ownership.
A certificate from the pension fund confirming the availability of funds in the borrower’s account.

List of documents to be submitted to the pension fund:

Personal documents of the borrower.
A document that confirms the borrower’s desire to enter into a mortgage agreement. It is issued by the bank after the application has been submitted.

Before signing a mortgage agreement, we recommend reading the following information to focus on these important nuances:

When the decision to use maternity capital has already been made, you need to notify the Pension Fund about this, and this must be done at least six months in advance, since payments are planned once every 6 months. That is, if you need to receive maternity capital in the second half of the year in the fall, you will need to write an application in the spring, that is, in the 1st half of the year.
When you are choosing a suitable bank, decide what you want: buy ready-made real estate for living or become a participant in shared construction. This moment you need to find out in advance, because if you choose the second option, then, despite the upcoming costs for finishing work and increased risks, your benefit will be undeniable, because the cost of the apartment during the construction phase will be significantly lower.
It may happen that you have already used maternity capital funds for something (for example, you bought funds for the rehabilitation of a disabled child). In this case, it will not be possible to spend the remaining funds to pay off the down payment. They can only be used to repay part of an already taken out mortgage loan.
After the housing has become the property of the borrower, it must be registered in the name of all family members in equal shares (children, spouses and other citizens who are equal to family members).
When applying for a mortgage against maternity capital, you need to choose the right living space for purchase. The question is that the calculation of the maximum possible loan amount in this case will be calculated in a different way. The amount of maternity capital will be added to the average income of spouses or other family members engaged in working activities. Then the market value of the purchased property is established (you report the price of the selected property). And if you are allowed to take out such a loan, the amount of the down payment will be calculated. Typically, the down payment is 10% of the total amount. If the maternity capital is enough for this procedure, then everything is fine, but if it is not enough, then the borrower needs to pay the difference between the maternity capital and the amount of the down payment, which was calculated by the bank employee.
Insurance. This procedure is an integral part of mortgage lending, without which it is impossible to do. Moreover, each bank sets its own requirements regarding the insurance procedure. For some, it is enough to insure the mortgage loan itself in case the borrower becomes disabled or loses his job, including if his position is laid off. A number of financial institutions require real estate to be insured against accidental destruction or loss of value due to damage for reasons that are in no way dependent on the borrower himself. Remember that if you repay the loan before the due date, you have the right to return the portion of the insurance that was paid but not used.

When the housing has already been mortgaged against maternity capital and the transaction has been recorded in Rosreestr (purchase and sale and mortgage agreement), an encumbrance will be placed on your purchase. What does this mean? In other words, you will be able to donate, sell, change housing (dispose of property) only when the obligations to repay the loan or part of it are fulfilled. Before this moment, if there is an urgent need to dispose of the housing, you will need to obtain permission from the bank that is the holder of the mortgage.