Become a member of the program in their region. For this find out in the administration of the terms on which it operates, and what documents you need to provide. As a rule, the period of accumulation of funds in their housing program is not less than 18 months. A potential borrower is required to have 1/3 of the cost of purchased housing. Under this program, a young professional has a preferential interest rate. The apartment can be located on the primary or on the secondary market.
When accumulated the required amount, the borrower gets the missing money in the form of a loan. The repayment term is up to 10 years and is calculated, proceeding from financial possibilities of the young specialist for repayment of the relevant loan.
The interest rate on the issued amount is relatively low and is only 5% per annum. The balance amount is the calculation of the redeemable amount. Loan repayment occurs in equal parts. There is also the possibility of early return of credit at any time, without penalty.
Young professionals are citizens who have special education and work in the specialty for not less than 3 years. Borrower's age should not exceed 35 years.
An important factor is that the borrower must begin to work immediately after graduation, i.e. in the year of graduation of an educational institution and not later than 3 months from the beginning of the school year. The specialist must comply with the terms of the existing norms of working time.
Remember that a young professional can be installed only once and is valid for three years. However, this period may be extended for a number of reasons:
1. the call-up for compulsory military service and alternative civilian service;
2. direction on training with a separation from production in the workplace;
3. admission to graduate school full-time for the preparation and defense of the doctoral dissertation;
4. leave to care for a child under the age of three.
A list of documents that must be provided for a young specialist: photocopy of the passport and the employment record of the borrower, a certificate of employment and passport forms No. 7 and No. 9. A list of documents can be extended by decision of the local administration.