Preferential mortgage

The very name of the family mortgage implies that only families raising two or more children can receive the benefit. Moreover, the second or subsequent child must be born between January 1, 2018, and December 31, 2022. The interest rate for such a mortgage will be 6% per annum, and the down payment will be 15% or 20% of the total cost of housing.

Sravnim24 editorial team
Imil Tkarev

Contents

Features of state-subsidized mortgages for families with children

Mortgage terms for families with children
Families with one child can also participate in the program, but only if the child has been diagnosed with a disability. In such a situation, the lending terms will differ slightly — the interest rate will be 4.7% per annum instead of 6%.

Requirements for borrowers and co-borrowers

Only one of the parents can act as the mortgage borrower. Moreover, some banks insist on having a co-borrower — a spouse, unless the property is divided by a prenuptial agreement.

Requirements for borrowers and co-borrowers may vary depending on the bank the applicant applies to. Basically, they look as follows:
● borrower and co-borrower age between 21 and 75 years old;
● Russian citizenship;
● permanent registration in the region where the bank branch is located;
● continuous employment history at the current job for at least 3 months;
● positive credit history.

What housing is covered by the subsidized mortgage

Mortgage lending does not apply to all types of real estate — secondary housing cannot be the object. Thus, the subsidized rate applies to new construction, specifically:
● apartments, including those in townhouses;
● residential houses;
● part of a residential house;
● residential real estate along with the land plot on which it
is located.