How to get a mortgage for a divorced woman with children

Will they give a mortgage to a divorced woman?

A mortgage for a divorced woman with a child is issued on the same terms as other clients. The only difference lies in the assessment of solvency, because she alone has to provide for her family. If, if there is a spouse, it is possible to take into account the income of both, then in this case the salary of only one person is taken into account. As a result, the approved mortgage amount for a divorced woman with a child will likely be small.

Can they give a mortgage to a divorced woman ? Of course, banks do not see any obstacles to such clients receiving a loan. Lending conditions are the same as for other categories of borrowers.

The list of documents when applying for a mortgage for a divorced woman is standard:

• passport;
• A completed application form;
• certificate of salary and other financial income (alimony, pension, social benefits, etc.);
• confirmation of official employment;
• document on marital status (in this case, a divorce certificate or a certificate from the registry office will be required).

Obtaining a mortgage as a divorced woman has some legal intricacies. Married clients apply for a loan only together with their co-borrower husband (in some cases, a guarantor). A single woman can become the sole borrower and homeowner. If desired, she has the right to attract co-borrowers to increase solvency and allocate them a share in the apartment. New participants in the transaction are usually close relatives (parents, adult children, etc.).

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How is child support paid after divorce?

A woman, having divorced, continues to raise a minor child. In this case, the father of the teenager is obliged to pay part of his income - alimony - for his maintenance.

Alimony may be paid:

• No coercion. The reached agreement is certified by a notary.
• Forcibly. The woman turns to the judiciary and the court makes a decision to collect alimony. In this case, an executive document is issued and sent to the FSSP.

Alimony is calculated depending on the form of payment:

• A percentage of all types of profit is deducted: 25% for 1 child, 33% for 2 children, 50% for 3 or more.
• A fixed payment is paid. This method is used if there is no permanent job, part of the salary is paid in foreign currency, and earnings are below the minimum.
• Alimony is not in money, but in property. A deed of gift is drawn up for a car or apartment, clothes, shoes and other necessary things are regularly purchased.

How the decision is made

Consideration of a mortgage application for a divorced woman without a child or with children occurs in the usual way. The bank takes into account all factors and assesses the risks of non-repayment of the debt. What you pay attention to first:

• credit history;
• income sufficiency;
• existence of other existing obligations to banks;
• amount of children;
• Family status;
• reliability (absence of compromising factors - prosecution before the law, existence of enforcement proceedings, etc.).

Important to know: Mortgage without a credit history – chances of getting approval

Is it possible to take out a mortgage with arrears and court orders?

It is unlikely that you will be able to find a lender who will not take into account the presence of children. When calculating the solvency of a potential borrower, dependents (including minors) are an important factor. The client’s salary is divided between him and his children; as a result of this calculation, the bank understands how much is left for loan payments.

The volume of existing liabilities to other banks is also taken into account. The financial organization will definitely request a report from the BKI and calculate how much the woman pays monthly on loans.

Are divorced women given mortgages if they only receive alimony? Payments for children cannot be taken into account as the main source of income. Moreover, some banks do not even accept these proceeds when calculating the loan. Others are ready to count them to increase the loan amount. If a woman is on maternity leave and lives only on alimony, most likely she will be refused, because these payments are unstable and can stop at any time.

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How to get approved

A mortgage for a divorced woman with three children is quite affordable if she earns enough. But even if you have a small income, you can count on approval. How to increase your chances of getting a home loan:

1. Contact the bank where you have your salary card. Salaries almost always receive a positive decision.
2. Show the bank that you can pay off your mortgage every month. To do this, collect certificates (forms and) about all regular cash receipts (salaries, part-time jobs, alimony, social benefits, etc.).
3. Take advantage of the preferential conditions for obtaining a mortgage provided by the state. If you have the right to a reduced percentage, maternity capital and other subsidies, be sure to submit documents to receive them.
4. Find a solvent co-borrower. Usually, for a mortgage to a divorced woman with two children, they become the parents of the borrower. By attracting a new participant in the transaction, you can count on receiving a larger loan.

Important to know: Is the credit history of a mortgage co-borrower important?

Soberly assess the requested mortgage amount. You should not try to get a large loan if the monthly payment is unaffordable. Banks do not write off debts of single mothers, disabled people, or pensioners. If you put your signature on the loan agreement, the debt with the interest due will have to be repaid. It is better to buy a slightly less expensive home, but be completely confident in the timely repayment of the mortgage.

Benefits for obtaining a loan

In recent years, the government has launched several programs to support mortgage borrowers. Thanks to them, thousands of Russian families were able to purchase housing on credit on favorable terms. What mortgage benefits can a divorced woman with a child use:

1. Maternity capital issued at the birth of a second child can be used to pay for an existing housing loan or as a down payment (). Soon, parents of their first-born will begin to receive such certificates, and the amount of the subsidy will be increased. This order was given by the President in a recent address to the Government of the Russian Federation.
2. Family mortgages are issued to parents of second and subsequent children born between 2018-2022 (). The program involves subsidizing the interest rate. Borrowers pay only 5-6% per annum; the difference between this and the bank’s base interest is compensated by the state.
3. Other housing subsidies issued at both the federal and regional levels. In particular, young teachers, village residents, etc. can count on receiving mortgage benefits.
4. 450 thousand rubles to pay the existing mortgage at the birth of the third or subsequent child ().

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Provided government subsidies are attracted, a mortgage for a divorced woman with 2 children can even be profitable. Especially if she uses several benefits at the same time. For example, at the birth of her second baby, she receives the right to maternity capital and subsidized interest rates. But although social programs make loan repayment easier, they by no means guarantee mortgage approval.

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Author:

Mortgage specialist Maria Yurievna Sokhan

Publication dateFebruary 10, 2020February 10, 2020

All types of benefits and benefits for a single mother with a child/children

• 1. Right to receive alimony

A woman who has been married has the right to receive alimony from her ex-husband for child support. If the ex-husband has not established the amount of payments for the child in a contractual manner (the agreement on the payment of alimony is drawn up by a notary), or does not want to provide financial support to the child, then the order of payments is determined by the court.

The court can determine alimony as a percentage of the father’s income (a quarter of the income for one child, one third for two, half for three or more), a fixed amount (for one-time earnings, fees, a small salary), in material form (transfer donation of property, purchase of things to support a child).

• 2. Benefit until the child reaches the age of one and a half years

Until the child reaches one and a half years old, the mother has the right to a monthly child care allowance in the amount of 40% of the mother’s salary or 3065.69 rubles. for a non-working mother per 1 child.

The benefit is paid at the mother’s place of work and is issued through social security authorities upon provision of the relevant documents.

• 3. Payments for the maintenance of a child under 3 years of age

Due to the fact that parental leave can be extended up to 3 years, payments are provided to mothers who have extended their leave (Resolution of the Government of the Russian Federation of November 3, 1994 N 1206).

However, the amount prescribed by the state is 50 rubles. increases in different regions (in Moscow it ranges from 2000 rubles).

• 4. Social benefits for minors

The amount and procedure for payments for minors under 16 (for full-time education and up to 18 years of age) are established by regional legislation.

Information on the amount of such payments can be obtained from the social protection authorities at the mother’s place of residence.

• 5. Benefits under labor legislation

A woman raising a child under 14 years of age without the help of a father (and, accordingly, the only source of income for the family) is the last to be laid off.

A mother in a single-parent family is guaranteed payment for sick leave of any duration to care for her child until he reaches the age of seven. Sick leave for up to 15 days for caring for children from 7 to 15 years is also paid.

According to the statement, a woman can be assigned a part-time work schedule or a part-time work week, and not be assigned night shifts, business trips, or overtime hours.

• 6. Housing benefits for low-income single-parent families

If an incomplete family is determined to have low-income status, then the state may provide such a family with a subsidy to pay for utilities (Government Decree 761 of December 14, 2005).

• 7. Tax deductions

A woman raising a child in a single-parent family has the right to receive a standard tax deduction from personal income tax for each child under the age of 18 (for full-time students up to 24 years old) in the amount of 1,400 rubles.

If there is a court decision to recognize the second parent as missing, or the second parent has died, then the deduction is provided in double amount for each child. Deductions are provided at the place of work.