12:37, 17 October 2022 Page views 663 views

Family Mortgage in Russia to be extended till July 2024

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According to the authorities, more than 150,000 families will be able to get such mortgage in 2023. The total amount of loans can reach almost 1 trillion rubles.

“At the instruction of the president, the government is extending the validity of family mortgage program so that more young parents have the opportunity to purchase their own housing. Preferential terms will be available until July 1, 2024 at the birth of a child until the end of next year,” Mishustin said at a meeting with his deputies (a fragment of his speech was published on the Russian Government’s Telegram channel).

Family Mortgage was launched in early 2018. Families with a child born between January 1, 2018 and December 31, 2023 can take part in the program. In September, the government allocated another 16.6 billion rubles to subsidize this mortgage.