Mishustin extended the family mortgage in Russia until July 1, 2024
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The Russian Cabinet of Ministers has extended the family mortgage program until July 1, 2024. This was announced by the Prime Minister of the Russian Federation Mikhail Mishustin.
At a meeting with his deputies, he noted that on behalf of the President of the Russian Federation, the government is extending the family mortgage. According to him, this is necessary so that “more young parents have the opportunity to purchase their own housing.”
Mishustin added that Russians who have a child before the end of 2023 will be able to use preferential terms. The Prime Minister added that this preferential program has been implemented in the country for more than four years.
Prior to this, the program was limited to the end of 2023. It applies to families whose children were born between January 1, 2018 and December 31, 2022. These families have the right to take out a loan at a rate of up to 6 percent per annum in order to purchase or build a home.
In September, the head of JSC “DOM.RF” Vitaly Mutko put forward a number of initiatives at a meeting with President Vladimir Putin. In particular, he called for an indefinite extension of the Family Mortgage program. As one of the arguments in favor of this idea, he called the fact that the program is important for the development of the country’s demography.
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