How to use a mattapital for a mortgage
According to the Decree of the Government of the Russian Federation . If these procedures are carried out with the conclusion of a FHA mortgage loans agreement, the money from the matkapital in a non-cash form can be transferred to the credit institution that provided the loan. However, this requires compliance with certain specific conditions.
It is strictly forbidden to send funds from the matkapital to pay fines, penalties or various commissions on loan agreements. The purpose of the use of funds should be indicated in the application for disposal to the Pension Fund (FIU) and confirmed by the relevant documents listed below.
It should also be noted that housing l FHA mortgage loans s with the use of maternity capital are often implemented with the help of special banking programs, for which a state subsidy can be invested in the payment of principal, interest or the first loan contribution.
Redeem a mortgage loan. capital
If the mortgage is already taken, and the second (third) child is born in the family, the family has the opportunity to contribute part of the funds provided for under the certificate for the matkapital money as early payment.The process of repayment of the mortgage by the parent capital takes place in the following sequence:
If you buy ready-made housing (and not in a newly built house), the borrower immediately draws an apartment in property in Rosreestr. At the same time, on the certificate of ownership, a mark is placed that the apartment is pledged to the bank (under the mortgage).
The credit organization (bank) takes a certificate of the current debt on the FHA mortgage loans
The required package of documents is collected and submitted together with the application for disposal to the FIU for consideration.
Application for a month is considered in the Pension Fund. If it is approved, then the same term will be spent on transferring funds from the FIU to the bank.
After transferring money, the bank recalculates and a new payment schedule is drawn up.
The borrower continues to repay the loan.
After the final settlement with the bank and signing of all papers from the apartment, the encumbrance is removed, and the new owner draws it into the ownership of all members of the family.
Documents for loan repayment
For those who want to use maternity capital for mortgages, the documents are provided on the following list:
application for the targeted direction of funds (to be filled in by the FIU);
a document certifying the identity of the applicant and confirming his registration;
if the documents are submitted by a legal representative – his identity card and a notarized power of attorney;
if the FHA mortgage loans agreement is concluded by the spouse of the certificate holder – the spouse’s passport and his registration document, as well as the marriage certificate;
a copy of the loan agreement (loan) and in the presence of – a mortgage agreement with a note on state registration;
a certificate from the bank on the balance of principal and interest payable;
a document confirming the transfer of the loan (credit) to the account of the developer or seller of housing;
if the residential property is not yet registered in the common share ownership of all family members – a written obligation to perform such clearance within 6 months after:
removal of encumbrances from housing (with a mortgage);
its commissioning (with shared construction);
immediately after transfer of funds from the FIU (in other cases).