Family mortgages may be extended in Russia after July 1, 2024

Tatyana Aksyutina

The Russian Government will propose extending the family mortgage after July 1, 2024, when the program is due to end. This was announced by Deputy Prime Minister of the Russian Federation Marat Khusnullin.

“The government will propose switching to a zonal, so-called cluster, approach to mortgage programs after the end of the family and preferential programs in the summer of 2024,” TASS quotes Marat Khusnullin as saying. According to the Deputy Prime Minister, this mechanism will support regions where necessary.

“Family Mortgage” is a program for families where at least one child was born after 2018 inclusive, or there is a child with a disability. Under the program, you can buy finished or under-construction housing from a developer or build a house. The maximum loan amount is 6 million rubles, and the rate is from 5.7%. Loan term - from 1 year to 30 years, down payment - from 15%.

Author: Alfiya Agliullina

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