How to get a mortgage to the poor?
How to get a mortgage to the poor?
Mortgages for the poor aregranting a mortgage loan, part of the monetary costs of which the state pays. The purpose of this mortgage is to improve the living conditions of certain categories of citizens.
Mortgage rate for the poor is 18 sq.m. housing for each person, if a person is not able to purchase a property using a commercial mortgage.
Under the mortgage program for the poor, people who are in the queue for the purchase of housing are offered a living space at a reduced cost.
Budget employees, military personnel and young families can participate in this program.
The social mortgage is divided into several types of state aid:
-low interest on mortgages at the expense of the state;
- Partial subsidy for the purchase of real estate;
- Provision of public housing in the mortgage on preferential terms;
-Regional programs of social mortgage.
At the moment, the most common mortgage options for low-income citizens are two. PFirst involves the purchase of housing,built at cost, which means that prices for it are two or more times lower than market prices. The second option is to grant a subsidy for the purchase of housing in a mortgage at a market price.
Of course, the presented options doThe purchase of real estate is much more affordable than the market conditions. However, this type of mortgage has its own characteristics. For example, you can not buy a private house or living space in the secondary real estate market. State assistance extends only to purchase an apartment in a new building.
In addition, before you get a mortgage forpoor citizens, it is necessary to prove that there are rights to this. This will require the collection of documents that should be provided to the municipality. For mortgage registration for the poor, it will take a lot of time and effort. This is due to the fact that the state can not provide real estate to all comers. In addition, not all borrowers are trustworthy.
Mortgage loans for young people
The essence of this mortgage is to purchase real estate at cost using a mortgage. Young families with children have the right to receive a subsidy up to 40% of the cost of an apartment in a mortgage. The subsidy in this case will depend on the age and the number of children.
