It is still possible to take out a mortgage at a modest interest rate. But not for everyone Photo: Daria Pona / 74.RU
At the end of June, the Internet was full of banners with warnings “From July 1, preferential mortgages will be canceled! Time to buy an apartment!” The X hour has struck, but in fact, the family mortgage seems to remain, both rural and for IT specialists. Together with mortgage broker Kirill Pavlov, our colleagues from 74.RU we figured out which preferential programs are still available, and which ones we won’t be able to use anymore.
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It is still possible to take out a mortgage at a modest interest rate. But not for everyone Photo: Daria Pona / 74.RU1
So it was canceled on July 1.
Before July 1, there were seven federal programs in Russia that allowed you to take out a mortgage on preferential terms: State Support 2020, family mortgages, IT mortgages, rural, military and Far Eastern mortgages, as well as a program for new regions.
“State support” was launched in 2020 to support the real estate market in the midst of the coronavirus pandemic. The mortgage was issued at 8% per annum. It was possible to buy only apartments in a new building or private houses. A construction option was also possible, and from 2022 it was not even necessary to look for a contractor accredited by the bank — you could build the house yourself.
The initial payment for the “State Support” was 30%, and the maximum loan amount was 6 million. The uniqueness of this program is that it was available to everyone, without problems in the form of having children or moving to the Far East.
It was the most massive and the most “free” program. It was about its cancellation that realtors and developers shouted from banners. Although there were hopes for an extension (this had happened before), from July 1, the “State Support” was still canceled.
It is still possible to take out a mortgage at a modest interest rate. But not for everyone Photo: Daria Pona / 74.RU
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Which programs have been put on pause
Right now, you probably won’t be able to participate in family and IT mortgage programs. But the reasons are different in each case, and they are temporary.
The family mortgage has been valid since 2018. Since then, its conditions, like those of the “State Support”, have changed several times, but recently they have been as follows: a loan at 6% per annum for the purchase of an apartment (primary) or a private house. The initial payment is 20%, and the maximum loan amount in the regions is 6 million rubles. In Moscow, St. Petersburg, Moscow and Leningrad regions – 12 million.
At the same time, it is important that the family fits one of the criteria:
- there is a child who was born between 2018 and 2023;
There are two minor children;
there is a disabled child.
In the summer of 2024, the issuance of mortgages under this program was suspended. According to Kirill Pavlov, this is due to the fact that the government is considering updated conditions.
— We are all waiting for the current terms of lending under this program. There is no official position of the government and banks yet,” the mortgage broker noted.
According to him, there are already some throw-ins on the subject of changed conditions, but you should not trust them.
— But the focus is likely to be on residential housing [private homes]. Everything is coming to this, the residential housing market is our priority,” Kirill Pavlov believes.
An IT mortgage has been received since 2022, it is issued at 5% per annum. You can buy an apartment, a townhouse or a house on the primary market. There is also the possibility of construction. The initial payment is 20%, the maximum loan amount for million-plus cities is 18 million rubles. For other cities and villages — 9 million.
An IT specialist must meet these criteria:
- age from 18 to 50 years;
work for an accredited IT company. At the same time, it is not necessary to be a programmer, any employee can get a mortgage. To maintain preferential interest rates, you need to work in this company for at least 5 years after the mortgage was issued;
borrowers over the age of 36 have an income of 120 thousand rubles for million-plus cities, 70 thousand for other cities and villages. For younger IT professionals, the salary does not matter.
The IT mortgage is calculated until the end of 2024 — there is still time. But now it is unlikely to be possible to issue it.
— So far, the acceptance of applications has been stopped. There is a reception somewhere, but the loan has been stopped. Banks are waiting for the redistribution of limits. It’s a subsidized program. Its operator is the state corporation Dom.RF. She distributes the amounts to subsidize banks,” Kirill Pavlov explained.
He noted that the terms of the IT mortgage are likely to remain the same.
It is still possible to take out a mortgage at a modest interest rate. But not for everyone Photo: Daria Pona / 74.RU
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Three mortgage options were left unchanged
The rural mortgage has been preserved, the conditions for it have not changed. The loan under this program is issued at 3% per annum. The initial payment is 20%, the loan amount is up to 6 million rubles. You can buy a new house or a house on the secondary market, but built no more than 5 years ago.
You can also start construction, but not on your own, but by hiring a contractor accredited by the bank. The main thing is that the house should be located in a rural area, or in a city with a population of less than 30 thousand people. By the way, both spouses can apply for a rural mortgage, then the family will receive up to 12 million rubles.
Military mortgages are still available to soldiers and officers who participate in the NIS — funded mortgage system. Within the framework of the NIS, the military annually receives money to a special account. The amount is constantly indexed and in 2024 amounted to more than 365 thousand rubles. This money will be used to repay payments.
In general, military personnel can take out a mortgage 3 years after being enrolled in the NIS register. But if a soldier or officer is a member of the SVO, then it is not necessary to wait for this period.
One of the nuances of a military mortgage is the maximum loan amount. Now it is up to 2,160,000 rubles with an initial payment of 15.1 to 30.1% and up to 2,220,000 rubles with an initial payment of more than 30.1%.
A Far Eastern mortgage and a preferential program for new territories are exotic options, but still possible.
The Far Eastern mortgage is issued at 2% per annum. You can buy an apartment or a house both on the primary and on the secondary. There is an opportunity to start construction. The loan amount is up to 9 million.
To apply for this mortgage, you do not need to be registered in the Far Eastern Federal District. But after obtaining ownership of the housing, you will have to register there within 271 days.
Preferential mortgages for new regions are valid for the purchase of housing in the DPR, LPR, Kherson and Zaporizhia regions. The rate is 2% per annum, the initial payment is 10%. The maximum loan amount is 6 million rubles.
It is still possible to take out a mortgage at a modest interest rate. But not for everyone Photo: Daria Pona / 74.RU
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How will this affect the real estate market
Since July 1, mass preferential mortgages have become unavailable in Russia. For all, there are now standard 18-20% per annum from banks. Only people who are suitable for marital status, profession or place of residence can apply for relaxed conditions.
— Sales volumes of new buildings will fall. The focus will be on housing and communal services, most likely. The secondary will be bought only for cash or with a very good down payment so that there is a feasible payment,” concluded the mortgage broker.
It is still possible to take out a mortgage at a modest interest rate. But not for everyone Photo: Daria Pona / 74.RU
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