How to return interest from the mortgage

Few people know that from the mortgage in the bank you can return about 12.5% \u200b\u200bof those that overpaid. The main thing is not to confuse the principal amount with the percentage. And this option is possible only if the borrower officially works and every month with a salary gives state part of money for taxes. That's it, it will pay back this amount. You can not wait for the full repayment of the mortgage, and to apply for the refund after a year. What do you need to know and what documents to provide?

It is necessary to collect and make photocopies: a loan agreement on the mortgage, a certificate from the bank with regular payments, copies of all checks that confirm the payment, an account statement, a certificate from the accounting department at the place of work, a copy of the Treaty on the purchase of real estate and passport. These documents should come to the tax service and write an application for a partial return of interest.

We'll have to wait for about two months until you check the authenticity of all documents and make a request to the bank. If everything confirms - the tax inspector will take a positive decision on the consideration of the case.

When the application was approved - there are two options for the development of events. You can take a certificate with tax and attributed to work. Based on it, with salaries will cease to deduct taxes until the property tax deduction is redeemed. So each month can be returned to parts of your 12.5%.

The second option is to return the entire amount on the card or a bank account at once. To do this, it is worth bringing to the tax details and write a statement with a request to list the money at once. Over the next month will come full amount from overpayment.

All documents that are issued in the tax must be preserved and next year to write a statement about the return of interest from the property loan, loan or mortgage. It is important to remember that such a partial refund is possible only if the money is taken to purchase or building housing. If the mortgage is taken to other needs - this method does not work. The borrower must be a citizen of the Russian Federation, and the purchased real estate is in its territory. Only then can be referred to as 220 article of the Tax Code.