The government has extended the Far Eastern Mortgage to the Arctic

The government has extended the Far Eastern Mortgage program to the Arctic zone. Residents of the Arctic will be able to receive loans at a reduced rate of up to 2% for the construction or purchase of housing. About it reported on the government website.

Minister for Development of the Far East and Arctic Alexey Chekunkov said that mortgages at 2% are now available to 2.3 million residents of the Arctic. At this stage, to reduce prices for new housing, the Ministry of Construction has set a limit on the maximum price per 1 sq. m. m. at the level of 90–100 thousand rubles. However, this does not apply to individual residential construction projects, including Arctic Hectares.

The program applies to housing in new buildings, except in rural areas and single-industry towns, where more than 600 thousand people live – there, using the Arctic Mortgage, you can buy apartments on the secondary market. The updated program will be called “Far Eastern and Arctic Mortgage”.

Participants in the preferential program can include teachers and doctors who have worked in the Arctic for at least five years, young spouses under 35 years of age, single parents raising a child under 18 years of age, recipients of land plots under the Hektar program, as well as participants in regional labor programs mobility.

The maximum concessional loan is RUB 6 million. The total volume of issuance under the program was increased to 1.315 trillion rubles. from 1.3 trillion. Far Eastern Mortgage was launched in 2019 with a validity period until 2025.

Anastasia Larina