The rate of mortgages for the poor is 18 sq. m. of housing per person, if the person is unable to purchase a property using a commercial mortgage.
The mortgage program for the poor, people who are in the queue for the purchase of housing, offers housing at a reduced cost.
In this program can participate budget workers, military personnel and young families.
Social mortgage is divided into several types of state aid:
-Low-interest mortgage at the expense of the state;
-Partial subsidy for the purchase of real estate;
-Provision of a public dwelling mortgage on preferential terms;
-Regional program of social mortgage.
Currently, the most common variantov mortgages for low-income citizens two. Pirst provides for the purchase of housing built at cost, and this means that prices in two or more times below the market. The second option consists in granting subsidies for the purchase of housing mortgage at the market price.
Definitely shows the options that make buying property much more accessible in comparison with market conditions. However, this type of mortgage has its own peculiarities. For example, it is impossible to buy a private house or dwelling on the secondary market. State aid applies only to the purchase of an apartment in a new building.
In addition, before you can obtain a mortgage for the poor citizens, need to prove that it has rights. For this you will need to collect the documents to be submitted to the municipality. For registration of mortgages for the poor have to spend a lot of time and effort. This is because the state can't give property to everyone. In addition, not all borrowers are trustworthy.
Mortgage for young people
The essence of this mortgage is to purchase real estate at cost with the mortgage. Young families with children are eligible to receive a subsidy of up to 40% from cost of an apartment in the mortgage. The subsidy in this case will depend on the age and number of children.