Russian government has increased limits on issuing IT mortgages

The Russian government has increased the amount of funds for issuing preferential mortgage loans for IT specialists, reports the press service of the federal cabinet.

The total fund limit under the program has been increased by 200 billion rubles, from 500 billion to 700 billion rubles.

“Thanks to this, at least 15,000 more specialists in information technology will be able to obtain loans at a favorable rate for purchasing a house, apartment, or land plot for construction. Their support is a significant part of our work to strengthen the human resources potential of this important industry,” said Mikhail Mishustin.

The government launched a mortgage program for employees of accredited IT companies in 2022 to support the industry and create comfortable conditions for its workers.

Professionals aged 18 to 50 can take out a preferential mortgage loan. The preferential rate for them is up to 5% per annum. The maximum size of a government-subsidized loan for purchasing housing in regions with a population of over a million is 18 million rubles, and the rest—is 9 million rubles. More than 50,000 people have already taken advantage of this opportunity.

The project started in May 2022. From this time until the end of last year, 715 preferential IT mortgages were issued in Bashkiria (of which 650 in 2023) for a total of 4.6 billion rubles.

Author: Elina Akhmetova