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Extended "Far Eastern mortgage" earned in Chukotka

Extended "Far Eastern mortgage" earned in Chukotka
Photo: pixabay.com

The expanded Far Eastern mortgage program began operating in Chukotka. From September 30, housing on the secondary market can be purchased throughout the district at a reduced rate of 2% per annum. Banks are already accepting applications on new terms.

According to the press service of the government of Chukotka, such changes were made to the Far Eastern Mortgage program following the visit to the Far Eastern Federal District of Russian Prime Minister Mikhail Mishustin. Now, not only local residents will be able to participate in the program, but also people who move to work in the Far East as part of regional programs to increase mobility.

The Far Eastern Mortgage was introduced in December 2019. During this time, banks in Chukotka issued only six mortgage loans. This is due to the fact that prior to that, preferential terms were applied only to new buildings or to secondary housing in several settlements of the district.

Families can take part in the program if the age of the spouses does not exceed 35 years (inclusive), or citizens who are not older than this age, who are not married and have a child who is not older than 19 years.

The opportunity to purchase an apartment on the secondary market in the region at 2% per annum is valid until the end of 2021. The maximum loan term is 20 years and 2 months, the loan amount is up to six million rubles.
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