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The government approved a mortgage program at 6,5%

The government approved a mortgage program at 6,5%
Photo: pixabay.com

Prime Minister Mikhail Mishustin signed a decree on a program of preferential mortgages at 6,5% per annum. It will ensure the issuance of up to 250 thousand new housing loans.

As noted in document, preferential mortgage will be valid until November 1, 2020. At the same time, the 6,5% rate will remain for the entire loan term. The Ministry of Finance should direct the necessary amount of financing to the joint-stock company DOM.RF so that they repay the difference between preferential and market mortgage rates for banks.

The total amount of loans for which repayment is made will amount to 740 billion rubles. The money will be reimbursed by loans for the purchase of residential premises from legal entities at the construction stage and for the purchase of apartments from developers created with the participation of money from equity holders.

The program is valid for loans of up to eight million rubles in Moscow and St. Petersburg and up to three million rubles in other regions. The minimum deposit is 20%. According to government estimates, the program will further attract at least 900 billion rubles to the housing sector.

Launch a program of special preferential mortgages at 6,5% per annum last week commissioned President Vladimir Putin. The need for the creation of such a program was announced to him by representatives of construction companies.

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