Counts of Preferential Mortgages Recounted in Russia, According to Experts
In Russia, the number of preferential mortgage loan programs has seen a substantial reduction, leaving only five active options as of the current period.
One of these remaining programs is the "Family Mortgage," which caters to families with a child under six years old or a child with disabilities. The program provides an interest rate starting at 6% per annum, with the maximum loan amount ranging from 6 million rubles in most parts of the country to 12 million rubles in Moscow and St. Petersburg. To qualify, applicants must make an initial payment of at least 20% of the housing purchase price, and the program can be combined with the maternity capital program. From April 2025, "Family Mortgage" can be used to purchase property on the secondary market.
Another ongoing program is the "IT Mortgage," which continues to offer preferential terms for professionals in the IT sector until the end of 2030. The interest rate starts at 6% per annum, and the unified maximum loan amount is set at 9 million rubles, regardless of the borrower's location. To be eligible, IT specialists must earn a minimum income of 150,000 rubles after tax if they reside in cities with a population over one million, or 90,000 rubles in other regions. The age range for participation is 18 to 50 years old. As with the "Family Mortgage," the initial payment required is at least 20%.
The "Far East and Arctic Mortgage" program, launched in 2019, is designed specifically for residents of these regions. This special program provides loans for housing construction or purchase at an interest rate of 2% per annum. Eligible participants include young families, single-parent families with children under 18, employees of the defense-industrial complex, veterans, and other specified categories. The maximum loan amount for housing purchase is 9 million rubles for properties over 60 square meters in primary markets or courtyards of monocities, and 6 million rubles for other cases.
The "Rural Mortgage" program, initiated in 2020, aims to ease the acquisition of housing in rural areas and small towns. This program offers a low fixed interest rate of 3% per annum for real estate purchases in settlements with a population of up to 50,000 people. The maximum loan amount is 6 million rubles, with a loan term extended to 25 years. To qualify, individuals must be employed in rural areas and meet certain conditions, such as working in agricultural, social, or local government sectors.
Lastly, the "Military Mortgage" program is available for citizens who have signed a contract with the Ministry of Defense. Under this program, the government agrees to pay off the military serviceman's mortgage throughout their service period, subject to contractual conditions, including no early termination. After completing their service, the property becomes the serviceman's. This program allows for housing acquisition anywhere in Russia, regardless of the serviceman's location, and there are no specific criteria for participation, such as income level, age, family status, or having children. Monthly state payments are made into the serviceman's personal account. After three years, accumulated funds can be used as an initial down payment for a mortgage, with subsequent funding coming from the budget.
While the "Kuban" region previously expressed reduced interest in mortgage loans, potential homebuyers are advised to stay informed about changing policies and offerings. A wide range of preferential mortgage programs is available in Russia for families, IT specialists, residents of the Far East and Arctic, rural communities, and military personnel and veterans.
Investing in real-estate can be facilitated by various finance programs in Russia, such as the 'Family Mortgage' which offers preferential rates to families with specific conditions, or the 'IT Mortgage' for IT professionals. Additionally, other programs cater to residents of the Far East and Arctic, rural areas, and military personnel, providing varying benefits and eligibility criteria for business ventures such as home purchase.
