Mortgage benefits for young professionals. Preferential loan for young professionals. Corporate mortgage programs for young budget employees
The solution of the housing problem is relevant for different social groups. Mortgages without a down payment in Moscow are offered by some banks on certain conditions. Buying an apartment becomes an affordable purchase for many, even in the absence of initial capital. Consider the main points of design.
Documentation
Below is a list of documents required to pay off the loan:
This is not a complete list for obtaining a mortgage without a down payment in Moscow, the specific list depends on the institution chosen. When the package of papers is collected, you need to submit it to the bank branch.
Lending terms
Banks form their own rules for granting a loan with a zero first payment. But the conditions are almost the same. It is mandatory to issue insurance for the borrower and the acquired property. The currency is negotiated, payments are made in Russian rubles. The program is open to persons who have reached the age of 21, but not older than 75 years. For military personnel, an age adjustment is made, not exceeding 45 years. Mortgage repayment terms range from 3 to 30 years. The client needs to have a permanent place of work, as well as a stable financial income. The presence of valuable property acts as a guarantor on the part of the borrower.
Privileges
Banks provide preferential programs for young families, military, employees, single mothers. These include:
After choosing a convenient package, documents are collected and submitted for consideration to the bank.
Search
For information, it is convenient to use an independent resource site. Online information is provided on profitable and popular offers. It is possible to apply for participation after selecting suitable options. Documentation for loan consideration is submitted by clients personally.
Newly hired young teachers, scientists or doctors are in no less need of better living conditions. But the level of wages at state-owned enterprises does not allow these categories of citizens to apply for mortgage loans, not to mention the purchase of housing at their own expense.
In order not to provoke an acute shortage of personnel in federal and municipal non-profit institutions, the state motivates young people with subsidies and preferential lending programs.
One of these forms of support is the “mortgage for young professionals” program.
Benefits Programs
What benefits can a young specialist expect after graduating from a university or an educational institution of a lower level
At the moment, the state is willing to allocate funds to provide young employees of budgetary structures with affordable housing.
Benefits may be provided:
- Under the federal program "Housing".
- Under regional programs implemented at the initiative of municipalities.
- On corporate mortgage programs that attract young people to long-term cooperation.
Within the framework of federal subsidies, specialists have access to the social subprogram “Provision of housing for certain categories of citizens”, as well as the popular subprograms “Young Family”, “Maternity Capital” and many others.
Regional authorities are making additional efforts to provide social assistance to young doctors, teachers and researchers by allocating subsidies and granting the right to participate in the Mortgage for Young Professionals program.
State employees who need housing receive a certificate that allows them to receive the following forms of support:
- Compensation up to 30-40% of the cost of purchased housing.
- Reduced mortgage rates.
- The need to pay a down payment in the amount of 10-15% of the cost of housing (it is possible to make a down payment from the subsidies).
The specialist receives these benefits when buying a housing under construction or secondary housing, as well as when building a private house. Subsidizing is carried out at the expense of the federal and regional budgets with the support of AHML.
At the initiative of the municipalities, a fund of affordable housing is being formed, bought from private developers. In some regions, they provide assistance in acquiring housing for those moving to the countryside, and allocate free plots for construction to young families.
In regional regulations or in the legal documentation of a particular enterprise, the criteria for obtaining support for certain social categories in the acquisition of housing are necessarily listed. To find out about the availability of benefits for a young specialist and his family, you should contact the municipality of your place of residence or familiarize yourself with the collective agreement of the enterprise.
Who is eligible for benefits
It is necessary to determine the requirements for the borrower of a preferential mortgage.
Under the terms of the program, only young professionals are eligible to participate. But in the Labor Code or other legal acts of the Russian Federation there is not a single direct definition of this status.
- age up to 35 years (up to 40 years for a researcher).
- Profile education received at the full-time department in an elementary, secondary or higher educational institution, and completed no more than 12 months ago.
- Primary employment in the specialty in a budgetary institution.
In addition, there are additional restrictions and requirements for the minimum length of service in the position held for each specialty.
teachers
- Age no more than 35 years (no more than 30 years for some regions).
- At least one year of work experience in a non-profit organization providing general educational services (schools, colleges and technical schools, universities).
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Researchers
- Age up to 35 years (up to 40 years for a Ph.D.).
- At least 5 years of experience in a research organization.
Doctors
Benefits are provided to healthcare workers if they move to the countryside. At the same time, subsidies are not allocated to everyone - preference is given to in-demand specialists.
Benefits conditions:
- Age up to 35 years.
- Employment and living in rural areas.
- The conclusion of an employment contract for a period of at least 5 years.
military personnel
Housing for military personnel is provided from the federal budget. A prerequisite for obtaining a subsidy is the participation of a military specialist in the NIS - the accumulative mortgage system.
NIS participants who wish to receive a military mortgage make contributions to a special fund for 3 years. It is worth noting that participation in the funded system is the right of a serviceman, and not an obligation.
The documents
- Passport + additional identity document (SNILS, TIN, driver's license, etc.)
- A document confirming income (certificate in form 2 - personal income tax - is required, but other confirmations of income are also allowed, including from additional places of work).
- Employment information.
- A document confirming the absence of residential real estate in the property (for example, a certificate from the BTI).
- Confirmation of the availability of savings sufficient to pay the down payment.
So, young scientists have to document their degree.
Bank offers
At the moment, not all banks are willing to meet the needs of young professionals, denying them the service of mortgage lending.
The reason for this is often an insignificant length of service and the absence of other entries in the work book. This fact does not allow us to judge how responsibly the future borrower will treat the loan.
But financial institutions also need customers, so offers for lending to employees of budgetary institutions on preferential terms regularly come from small regional banks, as well as large organizations such as VTB.
A young specialist is much more likely to get a mortgage under the young family program. Since 2018, the list of lenders cooperating with AHML has expanded significantly.
Below are the best offers from the most reliable banks:
Corporate mortgage programs for young budget employees
Mortgage for young professionals at the expense of the corporation is a new opportunity for young people, implemented by large companies quite recently.
To attract new employees to work under unsightly conditions, corporations are partnering with banks to secure low mortgage rates. The losses incurred by financial institutions are compensated by the companies - employers of future borrowers.
An example of a corporate mortgage is the Russian Railways program, which allows employees to apply for a soft loan at VTB.
What conditions are available to young professionals in this organization?
- Mortgage is provided in rubles.
- Interest rate - from 10.5% (the borrower pays only 2%).
- No down payment required.
- The loan is issued for a period of up to 25 years.
A special attraction of such programs lies in the simplicity of design.
Employees of the corporation can get a loan directly at work by concluding an agreement directly with the employer. By issuing a loan to a specialist on favorable terms, the organization receives a guarantee of its continuous service during the entire period of payment. This does not mean that the employee will not be able to quit within 10-15 years of the mortgage.
If he leaves the enterprise, the interest rate on the loan will increase sharply, or he will have to pay the entire balance of the principal debt at a time.
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Last changes
In April 2019, the law on “mortgage holidays” was adopted. According to this act, borrowers who find themselves in a difficult life situation will be able to count on a grace period of 6 months, during which Russians will be able to suspend loan payments or reduce their size.
These rules will apply to people who have lost their jobs, received disability groups 1-2 or lost their breadwinner. Including for already existing credit relations.
For the first time about preferential mortgage for teachers spoke in 2011. At that time, a corresponding resolution was adopted by the government. The new law spelled out the conditions for providing support for a social project " Mortgage for young teachers". This program is still active today. It is designed to enable young teachers to have the opportunity to solve the housing problem on acceptable terms. Sberbank provides a loan for the purchase of real estate, and the difference between market interest rates and preferential ones is compensated by the state.
AT 2019 year, the largest bank in the country offers young professionals to take advantage and mortgage for teachers. Such a mortgage program is valid for a certain category of the population:
Teacher- Russian citizen;
A teacher in a general education school, or a student who graduated from a pedagogical higher educational institution and is applying for a job in a school educational institution;
Young teacher under the age of thirty;
The borrower must have a teaching experience of at least five years. And for at least one year, he must work at the place that is relevant at the moment, and from which he plans to issue mortgage.
Benefits for teachers
Mortgage for teachers belongs to the privileged category. According to it, part of the loan is financed by the state. The exemption is available only to those teachers who do not own other housing. They can also count on mortgage on preferential terms if their housing is in a state unfit for habitation. also in 2019 year, citizens who own housing, but its footage is lower than established by the standards, have the opportunity to apply for a loan to solve the housing issue. According to the standards, for each person living in the same living space with a secondary school teacher, there must be at least 18 square meters.
Today, there are several preferential programs for educational professionals that can allow them to afford their own housing at low cost. In different parts of the country, these programs may differ in conditions or even be absent. To clarify all the details teacher It is recommended that you contact your local Ministry of Education office.
Terms
One of the most important conditions is that mortgage for teachers in 2019 year is provided only at the place of registration of the borrower. This is due to the fact that state subsidies for its repayment are allocated only at the place of registration of a citizen. Sberbank a loan to specialists is issued only if there is a good credit history and repaid debts in the full object of previously taken loans. On decision Sberbank Numerous factors influence, including recommendations from the management and reviews of the specialist, as well as documents confirming the teacher's solvency.
Mortgage for young teachers issued Sberbank under the following general conditions:
The initial payment is 20 percent. Actually teacher 10 percent of the cost of housing will have to be paid for this purpose, and the rest will be added from a subsidy allocated by the state. Also, the remaining funds can be used to pay off debt on mortgage subsequently;
AT 2019 year, the base rate for the borrower is 8.5 percent during the first year after the signing of the mortgage agreement. And then the difference between it and the one set in Sberbank will be compensated by the state;
The amount of mandatory payments according to the schedule should not exceed 45 percent of wages teachers;
In order to achieve the required level of wages for obtaining a loan, the bank is allowed to attract several co-borrowers.
Interest rate
Mortgage for young teachers currently, the credit institution is provided under seven different programs that involve certain interest rates. However, in Sberbank the conditions for lending to this category of the population, which are prescribed at the legislative level, are strictly observed. Therefore, here the interest rate does not exceed the one established by the state. Sberbank offers a loan to young teachers at 8.5 percent per annum.
Limit
The young professionals program has limits on the size of loans that are important to consider. Depending on the type of offers it offers Sberbank for this category of citizens, they can vary from three hundred thousand rubles to eight million.
Maturity
Mortgage for young teachers provided for long periods. They can apply for a mortgage loan for ten years or use the Young Family social programs or a mortgage loan for maternity capital. Mortgages for teachers issued for a maximum period of thirty years.
Repayment is carried out according to the schedule issued by the branch Sberbank after the signing of the mortgage agreement. An important point is the amount of the monthly payment, which should not be more than 45 percent of the client's salary.
Decor mortgages teacher is an important decision and step for him. And in order to make a decision based on your solvency, it is possible to calculate mortgage online. This can be done using a handy calculator available on the official website. Sberbank. To obtain reliable and accurate data, you must enter the following information:
The total loan amount;
Type of payments;
The size of the interest rate;
The presence or absence of maternity capital;
Date of issuance of a loan for the purchase of housing;
Loan terms;
Early repayment options if you plan to repay the debt before the end of the contract.
As a result, the calculator will provide information on the amount of the monthly payment, the amount that will be overpaid for the entire term of the loan agreement, and the parameters of the minimum income level.
Registration procedure
Mortgages for teachers provided in different regions of the country under different conditions. And for starters, the teacher needs to contact the regional department of the Ministry of Education to clarify the parameters of the program. After clarifying all the questions, the potential borrower applies to the bank branch with an application for a loan for the purchase of real estate on the basis of the preferential program. Additional documents must be attached to the application to confirm personal data, the presence of co-borrowers and official employment in a secondary educational institution.
The bank considers the application of clients within a period of three to five days. After making a decision, the borrower looks for suitable housing options and collects the necessary documents to submit them to a credit institution. Searching for real estate and submitting documents can be as comfortable as possible if you use a special service from DomClick Bank. After all the nuances, the client and the bank sign a loan agreement in two copies.
In order to arrange mortgage for young teachers takes approximately three months. However, this period may be extended as subsidized funds are used to provide it.
Required documents
AT Sberbank on the mortgage for young teachers a large package of documents is required. It consists of the following types of papers:
Passport of a citizen of the Russian Federation;
Application for teacher mortgage, which can be submitted both at a bank branch and using the DomKlik service;
Documents confirming the solvency of the borrower;
Certificates from the place of work, which confirm that the client is officially employed in a general education institution;
Additional documents that may influence the bank's decision. In particular, the school management can provide recommendations and feedback about the specialist;
Papers or extracts that prove the fact that the teacher has the amount to make the down payment;
Documents of co-borrowers confirming their identity and solvency.
After approval of the application, documents for real estate are provided. In each individual case, the list of required papers may vary. The Bank reserves the right to request additional securities from a potential borrower. Customers have the opportunity to familiarize themselves with the full list at the branch of the credit institution where the loan is issued. The loan agreement is signed only in the presence of a complete package of documents.
Download the Domclick app for iPhoneMortgage for young professionals is an assistance program that is designed to receive preferential lending terms when young professionals buy housing with a mortgage. Its financing is carried out at the expense of the federal or regional budget.
Young professionals include citizens of the country who graduated from higher educational institutions and recently got a job in budgetary organizations. Due to the low level of wages, this category of workers is in particular need of financial support from the state.
To support the influx of new specialists in this area, special benefits were developed for young professionals and the possibility of their participation in the mortgage lending program.
- doctors;
- teachers;
- scientific staff.
There are also requirements for the employee himself:
- Age up to 35 years for all categories except scientific. For them, the maximum age is 40 years.
- Employment in a budgetary organization for the first time after graduation.
- Employment no later than one year from the date of completion of profile training.
Also, depending on the profile direction of the budgetary profession, there are additional requirements for the applicant for the benefits of a young specialist:
military personnel
Funds for this category of workers are allocated from the federal budget. They must necessarily participate in the accumulative program of mortgage lending. They must make contributions for 3 years to this program, after which they will be eligible to participate in concessional lending.
But if the military does not want to participate in this program, he has the right to refuse contributions and join this program. And, accordingly, will lose the right to receive preferential mortgages.
Teachers and researchers
For them, professional education makes no difference. They can graduate from a higher educational institution in any specialty and go to teach. In this case, the main requirements for teachers will be:
- the age of the employee is up to 35 years;
- his experience is more than a year in a non-profit educational organization.
For researchers, these requirements are more increased:
- age up to 40 years;
- his work experience in a non-profit educational organization from 5 years.
Medical workers
For doctors, one of the most obligatory conditions is their relocation to rural settlements. The professional orientation of the health worker will also have an impact. First of all, the most demanded specialists will be included in the program. In addition, the following requirements apply:
- the employment contract must be concluded for at least 5 years.
- the age of a medical worker is up to 35 years.
Benefits for young professionals
In addition to the opportunity to obtain favorable mortgage terms, employees who meet the requirements for the category of young professionals are entitled to apply for:
- lifting;
- lump sum payments.
Elevation allowance is accrued to the employee by the employer in the first month of official work. The amount of these payments is regulated by regional authorities and depends on the chosen profession. As a rule, it ranges from 20 to 100 thousand rubles. If a specialist quits of his own free will before the end of the employment contract, then he is obliged to return the amount of lifting. The term of work at the conclusion of the contract with the lifting can not be less than 5 years.
A lump sum payment can be made as an allowance during the duration of the primary employment contract, and can be paid after its completion. This payment is also made by the employer. It is calculated as 40-50% of the monthly salary.
All benefits listed are tax deductible. And they are additional measures to attract personnel to budget professions with low wages.
Also, the regions may provide the following benefits for specialists who have moved to live in the countryside:
- Early retirement after 25 years of service.
- The right to longer annual leave, which can increase up to 1 calendar year after more than 10 years of service.
- Permission to combine the main labor activity with other types.
- The working week may be shortened.
There are also special compensatory measures to stimulate rural specialists:
- Compensation for payment for services for heating and combustible materials for heating in the amount of up to 100%.
- Compensation for payment of electricity up to 100%.
- Compensation for renting housing, as well as its maintenance and repair up to 100%.
Regions may provide other types of benefits. Detailed information about this is provided in the social protection authorities.
Mortgages for young professionals
Registration of the purchase of housing on credit is another of the measures to attract young employees to budget organizations. There are several options for preferential acquisition of living space:
- by receiving subsidies from the state;
- federal program "Housing";
- regional programs such as Mortgage for Young Professionals;
- mortgage programs designed with the involvement of the interests of the employer.
When allocating subsidies from the state, the specialist pays only the principal amount of the debt of the monthly payment. And the interest on the loan is repaid from the federal budget.
In a mortgage involving the interests of the employer, in a similar way, the interest for using the loan can be repaid from the budget of the employer itself.
Federal program "Housing"
This program can be used by any young professionals. It implies state assistance in the purchase of housing in the amount of 40-50% of its market value. To do this, a young specialist must submit an application to the administration of the settlement for participation before September 1 of the current year.
Together with the application, he is obliged to submit documents proving that he has the opportunity to make an initial contribution of 10%. And also must prove its ability to pay the loan.
Mortgages for young professionals
Regional program, on the basis of which a specialist receives preferential lending conditions:
- low interest 5%
- loan term up to 10 years.
To approve this loan, you need to prove that the specialist has 30% of the cost of housing, and also has the ability to make monthly payments on the loan. When applying for this program, the specialist is required to work in the area for at least 5 years.
Thus, the state encourages young professionals at the federal and regional levels to choose budgetary professions and live in sparsely populated areas.
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Nowadays, many organizations and banks provide housing loans on favorable terms. There are so many offers that institutions value every client who is ready to apply for a mortgage with them. That is why preferential programs have been developed that are suitable for narrowly focused professions.
A special group of the population experiencing difficulties in buying a home, but with good potential, today are young professionals. Therefore, it is about them that we will talk today.
We will analyze who exactly belongs to the group of young professionals eligible for a social mortgage, and what privileges they can count on.
teachers
A young teacher can receive preferential housing in every region of the country. Additionally, it can be obtained from local authorities.
For example, teachers in the Moscow region can apply for the Sotsipoteka. It works for different segments of the population. To apply for a loan under such a program, you need to seek help from the relevant Ministry and collect the necessary materials.
The Government of the region contributes the first half of the amount under this program, and the remaining debt is subsidized from the regional budget.
The only thing that the young teacher pays is the accrued interest.
Naturally, the amount of subsidies for different citizens will be different. At the same time, the amount of the benefit will directly depend on the price in the area and how many people are in a young family. So, if you have a child, the subsidy will be higher, and the mortgage interest will be lower.
To qualify for the program, a specialist must meet certain criteria:
- In teaching activities, a citizen must work for at least five years;
- there is a specific specialization - it should be a teacher of elementary grades, foreign languages, mathematics, or Russian and literature;
- the borrower must be a citizen of the Russian Federation;
- the specialist should not have property in the territory of the Moscow region;
- the credit company also requires the borrower to have a positive credit history;
- the specialist must be ready to conclude an employment contract for the implementation of labor activities in an educational institution for a period of at least ten years.
In the Moscow region, the bank that implements this social program is Gazprombank.
Researchers
Another group that is given preference when issuing a mortgage loan is young scientists. Subsidizing mortgage loans for this group of the population is carried out at the regional level.
They have specific requirements:
- the specialist must have worked in this field for at least a year;
- he must have scientific publications posted in scientific journals;
- topics of publications should be directed primarily to the development of the field.
It is important that at the time of obtaining a loan, a young scientist should be no more than thirty-five years old.
For employees, Russian Railways offers its preferential services. The following conditions apply to the loan:
- % on a loan for such citizens is only 2%;
- when applying for a loan, the initial payment can not be made;
- the amount of the subsidy provided by the State depends on the region in which the dwelling is purchased and on the number of people in the family.
But there are also advantages for young professionals do not end. So, if a child is born or adopted in such a family, the employer pays a subsidy in the amount of two hundred thousand rubles to repay the mortgage loan.
Doctors
Doctors, as well as teachers, can count on the help of the local government in obtaining subsidized mortgages. However, here the conditions for registration are somewhat different:
- the doctor must have worked in his specialty for at least three years;
- the specialist must have Russian citizenship;
- it is important that the doctor has a degree or is a qualified specialist;
- the citizen must be in dire need of better conditions;
- financial companies impose one more condition - a citizen must have a positive history of previous loans.
Well, just as in the case of teachers, the doctor must be prepared to conclude an employment contract for at least ten years.
In order for the military to be able to apply for a preferential mortgage, they must be included in the register of participants in the funded mortgage. Moreover, you can get into this register both voluntarily and by mandatory prescription.
If a soldier himself wants to join the ranks of volunteers, then it will be enough for him to write a report to the commander with a request to enter him in the register. In this case, the transfer will be carried out within ten days.
A separate category of citizens are young families who can apply for preferential housing under the Housing program. The program is valid only for those citizens who are under 35 years old. To take advantage of the social program, you need to get on the waiting list for home improvement.
The amount of the subsidy depends on the price of housing in the region. For example, in the Moscow region, if there are no minor dependents, forty-eight square meters are issued for two people. And if there is, then eighteen for each member of the family.
What benefits are provided?
Benefits for young professionals can be accrued from regional budgets, state support programs, as well as financial companies to attract potential bank customers.
- The state supports youth through the Affordable Housing program.
- Young professionals are given subsidies with which they can pay off their mortgage debt or make a down payment.
Benefits can be used as follows:
- spend them on secondary housing;
- build a house on the earth;
- start building a new building.
By the way, local authorities also take an active part in preferential mortgage lending. To do this, land for the construction of a house is provided completely free of charge, housing is provided at a cost price, or loans are issued on preferential terms.
As for the amount of subsidies, they are as follows:
- the federal budget can give a specialist up to thirty percent of the amount of purchased housing;
- the regional budget, depending on the program, can provide up to 40%;
- banks offer to make an initial payment of only 10%;
- banks also offer a variable rate - it will increase along with the salary of a specialist, although initially it will be minimal;
- Financial companies offer loan terms from five to fifty years.
The following organizations are engaged in issuing such mortgage loans on preferential terms:
- AHML;
- Funds engaged in housing construction;
- As for lending under these programs, it is carried out by partner financial companies.
But that's not all. Also, young professionals can take advantage of programs such as "Large, young family" and "Matcapital".
Requirements of banks to applicants for a loan
Despite the fact that young professionals must meet certain standards, banks also have their own requirements.
So, for example, only those specialists who have not yet encountered age restrictions up to 35 years can use the preferential program. It is important that these citizens carry out their activities not in private organizations, but in those institutions that are financed from the state budget.
Naturally, such citizens should be able to confirm their income, so you need to provide a 2-NDFL certificate from your place of work.
In addition, it is important that a specialist who decides to take a mortgage on preferential terms has a positive credit history - otherwise, he will definitely be denied a loan, albeit a preferential one.
Which banks provide mortgages for young professionals?
AHML, information about which can be found on the official website, cooperates with several banks that offer mortgage lending on preferential terms.
Let's analyze the conditions for each group of employees in more detail:
- Young scientists and teachers. These citizens can only enter the program if they are under the age of 35, but they already have at least one year of work experience. Under this program, loans are provided for a period of 3 to 30 years. The down payment is 10% and these funds can be repaid with a subsidy. In this case, the rate starts from 8.5%, and mortgage payments should not exceed 45% of wages. If the income is insufficient, then it is possible to attract up to the spirit of co-borrowers.
- For doctors and scientists, AHML also has its own conditions. For them, the interest rate is 10%, and the loan term can be up to 25 years. Moreover, at the initial stage, the interest rate is minimal, and if a child is born in the family, then the rate drops by 2 times. The initial contribution under this program is 10%, but it can be repaid with subsidy funds.
Despite the fact that Sberbank does not participate in the subsidy program, this organization also offers its customers loans on favorable terms. The interest rate for the military is 9.5%, and the loan term is up to 20 years.
Sberbank also offers young families a reduced interest rate and a 10% down payment.
Rosselkhozbank also offers mortgages on reduced terms for citizens of the military specialty. The interest rate on such a mortgage is 9%, and participation in the NIS is at least 3 years.
As for young families, the Rosselkhozbank offers them loans from 8.85% for up to 30 years.
To apply for a mortgage loan, you need to meet a number of requirements and provide certain documents to the financial company.
What will be required?
To obtain a mortgage on general terms, it is enough to apply to any bank whose requirements a citizen meets.
In this case, you need to provide the following package of documents:
- an application for a social mortgage, drawn up in accordance with all the rules;
- a diploma certifying a particular education;
- work book in the form of a copy;
- if there is a husband / wife and children, then this must be confirmed with the help of documents;
- certificates of advanced training, rank, and so on;
- passport data - yours and your spouse;
- characteristics from the last place of work.
Also, depending on the specialty, additional documents may be required.
step by step
To apply for a mortgage, you need to contact AHML, Russian Railways or any bank that works with social mortgages.
- Contact the bank with the collected package of documents.
- Write an application to join the program.
- Wait for the decision of the financial company.
If your candidacy is approved, the bank will give you the necessary amount of funds.
Changes in the program from 2018
The only changes in 2018 affected wooden dwellings. Citizens of social groups will be able to apply for a mortgage on wooden houses from the manufacturer, and at the same time the State will provide a subsidy of up to 5% of the down payment.
Pros and Cons of Mortgages for Young Professionals
Such mortgage loans have the following advantages:
- The interest on the loan rarely exceeds 10.5%.
- Banks use a special repayment system, thanks to which the interest rate will begin to rise only when the specialist achieves career advancement.
- Interest on the loan goes down when a child is born in the family.
- It is allowed to use additional subsidies - for example, matkapital.
Unfortunately, the program has only one disadvantage - at the moment it is implemented only by AHML.
