The Rural Mortgage Program has become indefinite
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The government lifted temporary restrictions on the Rural Mortgage program. The rate is kept at the level of 3%. The program was supposed to end in 2022.
“This program was supposed to end this year, but now its duration will not be limited,” said Prime Minister Mikhail Mishustin, speaking in Tambov at the plenary session of the All-Russian forums “Development of Small Towns and Historical Settlements” and “Environment for Life: your house”.
“Residents of the village will be able to apply for loans to buy or build their own house, without fear that they will not make it before the end of the program. At the same time, the rate will remain the same – no higher than 3%, ”he added (quoted from site governments).
The Rural Mortgage Program was launched in 2020. It applies to land or housing in rural areas and in cities with a population of no more than 30 thousand people.
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