Young Family Affordable Housing

The mortgage problem is very problematic in Russia. It is especially difficult for a fresh cell of society, a young family, that has not yet managed to accumulate the necessary amount of money to purchase their apartment. When it did not come to get a significant inheritance or win a lotto, there is only one method - a long mortgage. It is common knowledge that the mortgage results in a significant overpayment and harsh conditions, which also go beyond the opportunities for a young couple. However, fortunately, now there is a federal program foreseen for the next five years. The essence of this program in the possibility of discounts when buying an apartment. This does not mean that the living space is given as a gift, talk about acceptable mortgage requirements. If the couple does not have kids yet, they are granted a government benefit of 35% of the full price of the apartment. If there are children, the amount of benefits increases to forty percent. It must be clearly realized that the young family's program is aimed at moderate-value apartments, so it is unlikely to buy an expensive apartment for the state's funds. Moreover, the subsidy in any given situation will depend on the purpose of the purchase. For example, 40% received from the program, have the opportunity to make up only 10-15 percent of the cost of found housing. This means, in spite of the fact that 40 percent is a very abstract concept, it is tied to a specific limiting value of assistance.
Subsidy to a young family greatly facilitates the solution of the housing problem. It must be understood that if all the references are collected and transferred to the relevant authorities, it will be necessary to wait for some time while the lists are approved, and a certain amount will be allocated from the state to a certain pair. When funds come, the couple is provided with a document for a certain amount, which is in accordance with the current legislation. Then the transferred amount is transferred to the bank account of the person who owns the certificate. The received money can be used: for payment of an initial installment under the mortgage system, also for repayment of debts, or for construction of own house. The subsidy can be used solely to solve the housing problem, although in a variety of options, which is certainly beneficial for those who plan to live in multi-storey buildings and those who are used to private housing.
The system is a young family affordable housing, like every mortgage scheme, has its own requirements, not corresponding to what, to become involved in it will not work. The main condition is the availability of work and the corresponding salary, which will be able to extinguish the loan. Undoubtedly, if the funds, without mortgage debts, are not enough to cover the needs of the family simply, it will be impossible to obtain a mortgage. The second significant requirement is the existence of a particular age pair. Legislation defines the age limit of thirty years. This means that if the couple is older than thirty years, the mortgage subsidy does not apply to them. In addition, for the benefit of a foundation, in the role of which is the lack of housing space. Legislative acts set the necessary minimum, in which each person is given a certain space. If the number is less than certain parameters, the family has the opportunity to become called a need for improvement of living conditions.