What are the advantages of a young family on the mortgage

Social mortgage for a young family develops into a national project "Affordable and comfortable housing for Russian citizens." First, the effect of the project extends to socially vulnerable layers of population in the queue for housing improvement. The main difference between the social mortgage on mortgage loans of commercial banks are more low cost housing and provision of guarantees by the state. Social mortgage of 2011, the second phase of targeted program "Housing". During the period of this phase (2011 - 2015 gg.), For forecasts of the Ministry of Regional Development, to improve their living conditions will be about 172 thousand young families. To become a member of the subprogramme "Providing housing for young families, the age of both spouses must not exceed 35 years or if the family is not complete, the age of a young parent with child (ren) in the same must be within 35 years. First aid received by families that have taken on the account until March 1, 2005. Also, to get a mortgage loan, the young family must provide proof of income sufficient to pay part of the loan, which does not cover social benefits. Furthermore, as additional funds can be used maternity capital. The amount of payment is not less than 30% of the cost of housing for young families without children, and not less than 35% for young families with a child (ren). Local government bodies are taking statements and a complete package of documents for participation in the routine. The decision is made within 10 days from the filing of all documents within five days by mail will be sent notification of acceptance or refusal to recognize a young family member of the subprogramme "Providing housing for young families." Funds in this sub-allocated by both federal and regional budgets, so that specific conditions need to figure out in local government. Sberbank. Mortgage Young Family 2010 "Mortgage young family can be obtained from commercial banks. Today, many banks offer a variety of mortgage terms for young families. The most striking example is the Savings Bank with a mortgage program, "Young family". The main differences from other mortgage programs are: 1. age of one of the spouses must not exceed 35 years, ie If one 30 years old, and another - 50, then such a family is young; 2. postponement of principal repayment in connection with childbirth or the period of construction of housing 3. lower initial payment, even compared with other mortgages Savings 4. co-borrower may be the parents of spouses, which increases the amount of possible credit, which can be taken at the bank. Whichever way mortgage lending is not picked a young family should be carefully execute all documents to insure themselves against possible overpayments.