There is a chance that mortgages for single mothers will become more affordable in 2017. Many families in Russia cannot afford to buy an apartment for cash, due to the fact that the cost of one square meter of living space is more than the monthly salary of a potential buyer. Therefore, in order to purchase housing, people turn to banks and take targeted mortgage loans.
The bank, when considering an application for a mortgage, analyzes the family budget, which is the total income of the spouses, with particular care. If the family is recognized as solvent, the mortgage application is approved. Given this analysis of solvency, the question arises, how to get a mortgage for a single mother, because she does not have a "second" salary.
The question of whether banks give mortgages to single mothers is asked by many women who raise underage children alone. Most often, after a long study of mortgage products, a single mother comes to the conclusion that her own apartment is not an affordable luxury for her. In fact, the situation is completely different.
Currently, there are several government social programs aimed at improving the living conditions of single mothers. In addition, many banks for 2017 have developed special programs that make mortgages for a single mother not a transcendental dream, but a reality.
Preferential mortgage for single mother
Single mothers are not a separate social group who are entitled to special benefits for the purchase of housing.
However, realizing the difficulties of acquiring an apartment and the problems of improving housing conditions, the government included single mothers in the list of social categories that can participate in the social project "Housing".
Housing offers two preferential mortgage programs to mothers who are raising children alone:
Young Family - Affordable Housing Program
Aimed at helping to obtain a mortgage loan at a social interest rate without a down payment.
In fact, the first installment for the purchased housing exists, however, within the framework of social assistance, the obligation to pay it is assumed by the state.
Important: within the framework of "Young Family - Affordable Housing", the state subsidy is issued only for the purchase of apartments in primary housing!
Potential participants must meet several criteria:
- a woman must be under 35;
- availability of official documents on the need to improve the housing situation;
- the presence of a permanent official place of work with a "white" salary.
If a single mother meets state criteria, she can apply to the local government in the area where she is registered and apply for a subsidy. The woman's application will be reviewed within 30 days. If the result is positive, the applicant will be issued a certificate.
Young Family Program
A distinctive feature of this state program is the absence of the final amount of assistance to single mothers. The cash subsidy is calculated individually in each case and depends on the number of minor children in the family. Thus, state aid for a single mother with one child can be up to 30% of the cost of an apartment. For a mother with three children, up to 50%.
In order to become a participant in the program in 2017, you must meet certain criteria:
- the minimum monthly official income of a mother with one child must be at least 22,000 rubles. In cases where a woman has two babies, her income should exceed 33,000 rubles;
- the presence of an official document, which indicates that the family lives in inappropriate conditions and needs to be improved;
- the applicant must be under 35 years of age;
- all family members must be citizens of the Russian Federation.
If the applicant meets all the requirements of the state, she can submit an application to the local authorities of the region in which she is registered. Within 10 days after submission, the application will be considered. In case of a positive decision, the applicant can receive a certificate for a certain amount, which was calculated specifically for her case. The certificate, depending on the woman's desire, can be used as an initial payment for an apartment, as well as repayment of a mortgage loan.
Mortgage for a single mother from Sberbank
In 2017, Sberbank made several unique proposals for mortgage lending on preferential terms, designed specifically for single mothers.
Depending on the program, a single mother with a minor child can count on the following preferential conditions:
- reduction of the down payment up to 10%;
- "Credit holidays" - during the first three years, the principal debt under the mortgage agreement is not paid, only interest is paid. Thanks to such a system of cancellation, the amount of the monthly payment is reduced by almost 2 times;
- close relatives, including parents, can act as co-borrowers.
However, a mortgage from Sberbank for a single mother is available only if she has an official opinion on social status. A simple birth certificate of a child, in which there is a dash in the father column, is not an official confirmation of status. The status of a single mother is assigned by the state social service. After the assignment of this status, the woman is issued an official certificate.
Attention! Due to the latest changes in legislation, the legal information in this article may become out of date!
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