You can order a family certificate only if the authorities approve the forthcoming transaction by the Pension Fund authorities. In this article, we will try to understand how you can spend your maternity capital on the construction of a dwelling house, and what documents will be needed for this.
How to use maternity capital to build a house?
There are several options for using this social payment, which will allow the construction of a residential building for the whole family on the land, namely:
- receipt of cash for self-construction of the house;
- the direction of the amount of the parent capital in full or in part to the account of the contractor who will carry out the erection of the building;
- compensation of costs for the construction of an apartment house, carried out earlier;
- repayment of a loan taken for maternity capital and aimed at building a house.
Each of these methods of implementing this payment has its own subtleties and requires the provision of a number of certain documents.
Building a house at the expense of maternity capital
To invest maternity capital in the construction of a dwelling house, both with your own efforts and with the help of masters, you will be able only when your baby, on the occasion of whose appearance in the family you were granted a certificate, will reach the age of 36 months. After that you have the right to go to the Pension Fund with an application for cash for construction and additionally submit the following documents:
- documents on the birth and citizenship of all family members;
- legal title to a plot of land for construction;
- permission for construction on this plot of land;
- the obligation of the future owner to allocate a share in the constructed house for all minor children and the spouse, certified in the notary.
In addition, if you are planning to build a house on your own and want to receive money for construction, you will need to specify the details of the account for transferring funds. When contracting a contractor, you will have to submit a contract between you and the construction organization, which will indicate the complete data for transferring the required amount.
If all documents are in order and the forthcoming transaction is approved by the Pension Fund authorities, the funds will be transferred to your individual account no later than 2 calendar months. It is worth noting that at a time you can get no more than 50% of the total amount of the family certificate.
The remaining part of your account will be transferred only six months after the first, provided that the main stage of construction is completed. To confirm the fact of performing the necessary works, you will have to additionally submit an act of survey of the residential building. If, however, they applied for help to the contractor and submitted all the necessary documents, the whole amount of money can be used at a time.
How to apply for a loan to build a house for maternity capital?
Get a mortgage or another loan for the construction of a house with the involvement of the parent capital you can, without waiting for the third birthday of your child. If you want to dispose of this measure of social support in this way, you should contact the financial institution and conclude a loan agreement with it, indicating the purpose of the loan.
In addition, using this social payment, you have the right to repay a previously issued loan, if the purpose of lending was to build a house for housing. To do this, you also do not have to wait for the execution of a three-year-old.