Putin has reduced the mortgage rate to the far East to two percent

On the official Kremlin website appeared a document signed by the President of Russia. Vladimir Putin instructed the government to prepare amendments to the legislation on the mortgage program for young families in the Far East with a rate of two percent until 15 December of the current year. By its terms housing shall be acquired in the primary market in the territory of subjects of the Russian Federation, members of the DFO. The program lasts until January 1, 2025.

In addition, a 2% rate will be granted for the construction of houses to those who participate in the program “far Eastern hectare”. For the implementation of this program will be allocated from the program for socio-economic development of the far Eastern Federal district and the development Fund of the Far East and the Baikal region.

It also became known that the government will Finance mortgage programs for young families of 5 to 10 billion in 2020. The age of spouses should not exceed 35 years.

Earlier the head of state initiated the program family mortgage under the state policy of support of large families. Participants in the program can get a mortgage or refinance an existing loan at a concessional rate of six percent. The difference between the preferential and customary rate is compensated by the state.

The grace program is available to families whose for the period from 1 January 2018 to 31 December 2022 born second, third or subsequent child.

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