Most of the preferential mortgage lending programs work on one mechanism — the borrower performs credit obligations at a reduced interest rate, and the state compensates for the financial institution the missing income from rates. So the government’s government supports some categories of citizens and developers. Each of the programs has a number of its limitations.
Currently this is the most common lending program. It was launched as an anti-crisis measure, at the end of April last year and is valid to this day. According to this program, absolutely any citizen of Russia can take advantage of preferential terms. There are no restrictions on age and categories of the population. The main condition so that the accommodated housing was purchased on the primary real estate market in the finished or built house.
In second place in popularity of state programs, a family mortgage is worth. Following the name it is not difficult to understand that this mortgage significantly limits the circle of persons to receive it. The benefit on this program can count families who have been born a second and subsequent child or a disabled child from 2018 to 2022, even if he is in the firstborn family.
Such families can make a mortgage or restructured already available at a reduced interest rate in 6% per annum. There are a number of financial organizations that offer on this program even lower rates.
In the Far East, there are completely different conditions for family mortgage. The rate is 5% per annum. In general, the interest rate can be even more profitable and form 2% per annum. However, it is also designed not for all categories of citizens. It can be obtained: spouses who have not reached 35 years; single parents who educate minor children; owners of Far Eastern hectares; As well as citizens who came to the region for employment.
Buy real estate in the settlement is not only in the Far East, but also in any other region. For this, any citizen can take advantage of the State Rural Mortgage Program. The interest rate is about 3%. And in real estate can be purchased both primary and secondary housing. The main condition so that the settlement is not in the urban district and had a population not over 30 thousand people.
Mortgage loan for the construction of an individual residential building contains a large number of restrictions on the definition of developers and other points. And not every citizen can also get such. It can be citizens up to 36 years old who have at least one child up to 19 years. The interest rate on which is 6.1% per annum.
A citizen, as well as for any other loan, must have Russian citizenship.
Be officially employed. However, there is a small number of financial organizations that can provide such a long-term loan as a mortgage, without official employment, and in recent times the number of such banks increases.
Also, a citizen must achieve a certain age, in most cases, it is 18 years old, but many banks dictate their conditions and increase age until 21 years.
The government is developing support for citizens every year. The extensiveness of preferential programs allows absolutely any citizen, regardless of the marital status and status to acquire housing on preferential terms. However, preferential conditions are good, but no one has canceled mandatory conditions.
We hope that this article was useful for you.