Maternity capital for the improvement of living conditions: we manage with the mind

Maternal capital as a measure of assistance to families has been in effect since 2007, but far from everyone knows how to use it wisely from the maximum benefit for the family. So, what kind of help is this and who is the parent of the capital?

Most families know what purposes can be made for maternity capital: for improving housing conditions, a funded pension for a mother or a children's education. State support of this kind is given to parents after the appearance of the second child. This means that the parents and the born and the adopted children have the right to this type of care provided that the basic conditions are met. Important: the rule applies only to those families where mothers are not deprived of their parental rights, otherwise they are deprived of this type of state support.

How many times can I get maternity capital? Do we have the right to use it if the third child has already appeared in the family, and at the time when the maternity capital was already issued? Yes, but only if you did not receive family capital for the previous child. This type of assistance to families with children is only once. This means only one child. At the same time, it can be spent on the educational needs of any child or in the interests of the whole family, if maternity capital is directed to improve housing conditions.

Where is maternity capital registered? The corresponding certificate is registered in the Pension Fund, for which you need to collect a minimum of documents. By the way, go to any instance, make copies of all documents you have with you. This will save you from unnecessary visits and queues. If you do not live in a place of permanent residence, you will be received at the PF department at the place of residence of the family. After registration of the certificate, you can write a statement on the disposal of them, however, in most cases you will have to wait until the child will be coveted for three years. Exception: obtaining a loan for the purchase of housing, whenever a deal is made, and whoever the parent is a borrower. In this case, when the certificate is issued, the parents are not limited by the age of the child.

Let us dwell in more detail on those cases when the family directs maternity capital to improve housing conditions. If you are just thinking over the design of a mortgage loan, one of the decisive criteria should be whether the bank is ready to accept your certificate as a down payment and whether there are restrictions as to how much your own funds the borrower should contribute. This is one of the reasons why it is not recommended to spend family capital in parts for different purposes. The remaining part may seem insufficient for the bank to accept it as a down payment.

The certificate can be used and after registration of the loan, as well as for settlements on previously taken housing loans. In this case, cases of refusal of the bank to accept the certificate in the account of payment practically does not arise. True, the Pension Fund will require a notarized commitment by the notary that all family members will receive shares in the apartment, which means - and children.

If the amount missing for purchase is comparable to the size of the state aid in question, and you and the apartment seller can not wait for 2 months while the funds are transferred to the seller by the Pension Fund, you can try to get a consumer loan. But it is usually more profitable to apply to an organization that issues housing loans and willingly works with maternal certificates, but there is talk of limiting the number of organizations authorized to conduct such transactions. This can be done to exclude the possibility of reselling an apartment by unscrupulous parents.

Earlier we examined how maternity capital can be used to improve housing conditions, for example, buying an apartment. However, the options can be much greater. This is a share in the construction, and the construction of their own new home, and even the reconstruction (but not repair) of the old one. Of course, the questions asked by those who decided to use this kind of state. Support, this is not limited to. Find answers to all the questions you are interested in in the regulatory documents, on the Pension Fund website and in its branches.