Mortgage Credit For Young Family

Purchasing of own accommodation is a vital issue for many families. Today there are social and state mortgage programs for young families, but only some banks work with such programs.

Now there is a target state program of support of young families which is intended to provide young families with dwelling. But it is reckoned only on younger generation whose age doesn’t exceed thirty five years. To get to such program it would be necessary to be registered in queue on improvements of accommodation conditions.

The amount of mortgage subsidizing is usually attached to real estate value in the region and to number of fixed quantity of meters for each family member. The family may obtain a mortgage in case of meeting the following conditions:

• State pays off thirty five percent from dwelling cost to childless families;

• If there are children, five percent for each child is added;

• Family obtains the remained amount of credit at any commercial bank which grants accommodation credits for young families. As a result taking into account a preliminary fee the mortgage turns out preferential.

Registration of government assistance in various regions may be carried out with some difficulties. In order to manage to analyze possibility of such help obtaining in definite region it is necessary to overlook opinions about the program at local forums and to learn the opinion of those who tried to obtain or have already obtained such help.

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