THE DOWN PAYMENTS OF THE PREFERENTIAL MORTGAGE WILL BE REDUCED TO 15%

The authorities are actively working on the improvement of the 6.5% preferential mortgage program to help Russians who are planning to buy the housing.

Earlier, the possible amount of loan funds has been increased - to 12 million rubles in Moscow and St. Petersburg, and to 6 million rubles in other regions. The innovation made it possible to purchase the apartments with larger area.

Now the government has announced the further plans - the next step will be to reduce the down payment from 20% to 15%. It will make it easier for the citizens to use the preferential program in case they could not save up the necessary amount for the down payment before November 1.

What is more, the citizens will be able to take advantage of the benefits within the framework of the mortgage program for the family and the Far Eastern mortgage.

Additionally, it is planned to increase the total amount of 6.5% loans from 740 to 900 billion rubles. Mishustin promised 310 thousand Russian families would be able to fulfill their housing needs thanks to this program.