Repayment of mortgage by parent capital: documents and procedure description

Legislatively, it is possible to use the means of maternity capital to purchase housing. All banks that are engaged in mortgage lending are required to accept state certificates for payment of interest and / or the loan body. More details about how the mortgage is paid by the parent capital (documents to the FIU, necessary for processing and confirmation of the transaction, will also be listed) read on.

Definition

Maternity capital (MSK) is federal budget funds transferred to the FIU for implementation of state support measures. As a confirmation of the right to receive funds, the participants in the program are given a certificate of the state master. You can get it at a local location of the Pension Fund of Russia at your place of residence.

One way to quickly buy a dwelling in the property is to use the maternity capital to repay the mortgage. The documents necessary for processing the transaction are transferred to the Pension Fund of Russia, which makes a decision regarding the use of MSK funds.

How to get a certificate?

Before we consider how the mortgage is paid off by the parent capital, the documents necessary for processing the transaction will be examined with how to obtain the MSC certificate.

Material assistance from the state can be obtained by a woman whose second and subsequent child was born or adopted. In the same category are the fathers who adopted the second child. Money can also be received by a child left without parents, upon reaching the age of majority. Obligatory conditions:

• Training on the full-time department.
• Age - up to 23 years.

You can obtain a certificate at the Pension Fund of Russia branch upon a written application of the parent. The document must be accompanied by a copy of the applicant's passport, birth certificate (adoption) of all children. The Pension Fund may request additional documents, in particular if the lonely father is the applicant. During the month, the PRF examines the documents and makes a decision to issue a certificate. The notification shall be sent to the applicant within 5 days. In case of a positive decision, the document will indicate where and when it will be possible to obtain a certificate.

Application

MSC is indexed annually on the growth of inflation. You can use the funds in whole or in part in several ways. One of them is the improvement of housing conditions. Within the framework of this direction, the funds can be directed to purchase (construction) of the premises located on the territory of the Russian Federation. For the same purposes, you can take a loan from the bank, and then apply for repayment of the mortgage by the parent capital. Documents required for the operation will be forwarded further. Dispose of funds can be after 36 months after the birth or adoption of a second or each subsequent child. The loan can be issued for the mother or father.

Where to begin

The following list of documents for repayment of mortgage debt must be submitted to the bank:

• A copy of the MSK certificate.
• Passport of a citizen of the Russian Federation.
• Application for early repayment of a mortgage (a standard form of a bank).

The bank should also order a certificate, which indicates the amount of debt divided by major part of the debt and interest. Here you can get a certificate of ownership of the property and the contract of buying an apartment. The next stage is the transfer of documents to the Pension Fund.

Repayment of mortgage by parent capital: documents

To repay loans by state funds, it is necessary to prepare and provide references to the FIU. The full list of documents for the repayment of the mortgage by the parent capital is available on the website of the local Pension Fund of Russia. Short list:

• Original certificate for receiving state aid.
• Copy of the passport of the holder of the certificate or other document proving the identity of the person. If the application is submitted by the spouse, a copy of the second passport and the marriage certificate must be provided additionally. If the application is submitted by a trustee, you need to provide a copy of the power of attorney.
• A copy of the mortgage agreement with the state registration.
• Documents confirming the possibility of receiving MSK funds by the creditor organization:

1. For borrowers whose loans are refinanced by AHML, - a copy of the notice of change of mortgage owner;
2. For borrowers whose loans are sold to other companies - a copy of the letter from the second mortgage owner. The notice of change of the mortgage owner is sent to the borrower after refinancing the loan by mail.

• A copy of the certificate of state registration of ownership of the premises.
• An extract from the house book, a personal account.
• A pledge by the notary to place an apartment in a common (with all residents) property, after the removal of the encumbrance.
• A certificate from the bank about the size of the balance of debt taking into account interest.

Here are some documents for the repayment of the mortgage by the parent capital are needed.

Only non-cash

In the legislation it is stipulated that it is possible only in non-cash form to pay off the mortgage with the parent capital. Documents in the Pension Fund of Russia are provided to obtain a permit for a cashless transfer of funds. But there are exceptions to this rule. If the family builds a house, even before commencing work, it is possible to get half the amount to a bank account. For the remaining amount you will have to apply to the Pension Fund of Russia and provide a package of documents for the repayment of the mortgage by the parent capital. In this case, at least half a year must pass between the tranches. In addition, you need to prepare documents confirming the cost of the work: contracts with contractors, acts of work performed.

How is the mortgage repaid by the parent capital?

The documents for processing the application for the disposal of funds are transferred to the territorial office of the Pension Fund. The employee is required to provide a receipt indicating the number and date of acceptance of the document, his name and position. Within a month, a decision is made to approve or refuse to use the MSC and, in the form of notification, is sent to the applicant.

If the documents necessary for the repayment of the mortgage by the parent capital are not drawn up correctly, are provided in an incomplete set or the amount of funds over the MSC exceeds the balance on the debt, the netting can be refused. In the notification, the Pension Fund of Russia is obliged to indicate the reasoned reason for the refusal. This decision can be appealed in court.

What documents are needed for the bank to repay the mortgage with the parent capital? Written notification from the FIU with permission to use state support funds. If there is a partial repayment of the loan, the borrower must submit a statement to the bank indicating the chosen method of changing the payment schedule:

• Reduction of the validity period of the contract with preservation of the amount of payment;
• Reduction of the amount of payment with preservation of the validity period of the contract.

The Pension Fund of Russia is obliged to transfer the funds within two months from the date of the decision. Maternity capital can not be used to repay fines, penalties that arise as a result of default on the loan. That is, before the transfer of funds to the FIU, the borrower must timely repay the debt. After mutual settlements, a new credit repayment schedule is drawn up.

The first way to pay off debt

At the expense of state aid, you can pay a part of the advance, the body of the loan or interest on it. The first option is not available in every credit institution. Previously, banks attributed customers who could not pay the initial fee themselves, to insolvent. Today, large financial institutions are making concessions and accepting MSCs. It should be noted that the terms for such loans can hardly be called beneficial for borrowers. Such loans provide for higher interest rates with a short loan term.

The second way to repay the debt

A more acceptable option is repayment of the loan body at the expense of MSC, since after the amount of debt is reduced, interest is charged on the balance of the debt. If the borrower plans to repay it ahead of schedule, after making mutual settlements it is possible to reduce the amount of payment.

The third way to repay debt

For the bank, it is advantageous if only interest on the loan is paid off at the expense of MSC. He is guaranteed to receive part of the money due. The same scheme is beneficial to the client, provided that it does not plan an early repayment of the loan. The amount of the monthly payment is reduced, but insignificantly.

Features

The certificate for MSCs is issued for an unlimited period. You can get the amount at any time. If the person indicated in the document has died, the second parent, guardian or the child himself may use the amount before reaching the age of 23.

You can use the means of state aid at any time. The exception is when the holder of the certificate intends to use it to pay the initial installment. In this case, you can use it after 36 months after the birth / adoption of the baby. There is one more restriction. In the list of documents for the repayment of the mortgage by the parent capital, it is necessary to include a certificate from the Pension Fund confirming that previously the means of state aid were not used for any other purposes.

In addition to federal, there are also regional programs to improve the demographic situation in the country. Some of them provide for special conditions for obtaining (registration) of property in property.

After the repayment of the loan, the purchased property must be registered in a joint ownership with all members of the family.

Closing the MSC

The maternity capital program was launched in 2007. Still then it was said that the program will operate not indefinitely. After 8 years, there were first rumors about the termination of certificates. The reason for this was the fact that in 2014 the arrears of the Penitentiary Fund of Russia (through which all payments are paid) amounted to about 1 trillion. rub. During the same period, 200 million rubles were paid under the certificates of the MSC. The final decision is not taken. According to preliminary data, it will be possible to receive the certificate until 31.12.18 inclusive, and to use it - in the next 10 years.

Next year the following changes are considered in terms of the program:

• Issuing certificates only to families with small or medium incomes;
• A new direction is being considered for the use of funds - the rehabilitation of children with disabilities.