Changes await the family mortgage: the more children, the lower the rate

“Why does everyone look only at percentages, because the price of housing has doubled”

Family mortgages are likely to undergo changes. As you know, this type of preferential housing lending has already been extended until 2030. President Putin announced this in his recent message. But its conditions may be adjusted – and in favor of large families. In the corridors of power, an initiative was born to link family mortgage rates to the number of children – the more there are, the lower the rate. What might this look like? MK asked a real estate expert to explain whether citizens should enjoy these innovations or not.

Currently, either families with two or more children (if the first was born before 2018), or those with only one child, if he was born from 2018 to 2023, can participate in the family mortgage program at 6%.

The proposed preferential mechanism provides for a reduction in the rate on family mortgages to 5% if parents have a second child and to 4% if they have a third and subsequent children. The benefit does not have retroactive effect and will only apply to new loans under the state program.

“On the one hand, this is good,” says economist Alexey Krichevsky. “We should have moved in this direction a long time ago.” But there are questions. Since the government has the task of sharply increasing the birth rate and correcting demographics, why do we stop at discounts for three children. Why can’t you omit the percentages at the birth of the fourth or fifth child?

We know the answer to this question, hand on heart. In the end, the interest may go to zero, and then the mortgage will not turn into a loan at all, but a real grace of God. And yet it is worth thinking about the fact that at the birth of, for example, a fifth child for a family, the rate could be reduced by a third of a percent or a quarter. Then it would still be possible to maintain at least some dynamics. In any case, everyone would see that families have an incentive to have more and more children.

— Now there are so many frenzied cries around that we need mother-heroines and fathers-heroes, that you can’t help but wonder: what support measures are there for super-large families? – continues Krichevsky. — Another question is why everyone looks only at percentages, because the price of housing has doubled. And how will this family mortgage be used in new comfort class buildings? After all, studios and one-room apartments predominate there so massively that there are practically no four-room apartments.

However, this program has more pros than cons. The program is being modified – that’s right. But it requires adjustments – and this is natural.