Educational program: what does it mean and who needs a targeted preferential mortgage
CrimeaPRESS reports:
In July 2024, the Central Bank expects to complete the mass program of preferential mortgages, while the targeted program will continue to develop. This was stated by the head of the Central Bank of the Russian Federation, Elvira Nabiullina.
Member of the expert council of the State Duma Committee on the financial market, economist Stanislav Paulauskas said «Rossiyskaya Gazeta»for whom targeted preferential mortgages will be available.
It is important to note that targeted preferential mortgages are a new tool in the real estate market, which provides the opportunity to obtain mortgage lending for the purchase of housing on the secondary market. The leadership of the Central Bank considers it expedient to financially support certain categories of the population, and not the construction industries. The reason is that preferential lending caused an increase in the cost of housing in new buildings, increased the profits of developers, but had a negative impact on incomes and the financial burden of citizensnotes the expert.
The main difference between a targeted preferential mortgage is that it is provided only for the purchase of housing on the secondary market. This means that potential borrowers can purchase an existing home rather than a new one under construction. Thus, targeted mortgages provide an opportunity for a wider range of citizens to become owners of their own homes.
However, not all citizens can take advantage of the targeted mortgage program. It is available only to citizens of the Russian Federation who have the status of needing improved housing conditions. You must also meet certain criteria set by the program. These may be factors such as income, marital status, availability of necessary documents and others.
Targeted funding priorities:
— medicine;
— education;
— new technologies;
— Agriculture;
— applied engineering professions;
— families with two or more children;
— Young professionals.
The work of the targeted mortgage program is based on cooperation between government agencies, banks and real estate companies. As part of the program, the state provides banks with guarantees for the loan amount, and banks issue loans to citizens to purchase housing on the secondary market. Real estate companies help citizens find suitable housing and prepare all the necessary documentsexplains the expert.
In order to qualify for a targeted preferential mortgage, you will need to meet several criteria:
— have a profession that is in demand in a particular region;
— live or be ready to move to a permanent place of residence in another city, region;
— have sufficient income to pay the required mortgage payment.
The Central Bank plans to limit access to mortgage loans to citizens who have insufficient income to service the loan.
In 2024, the targeted mortgage program will continue to develop. The state provides additional guarantees to banks, which makes loans even more accessible to citizens. There is also an active expansion of the partner network of banks and real estate companies, which simplifies the process of obtaining a mortgage and allows citizens to have more choiceconcluded Stanislav Paulauskas.
source: «Russian newspaper»
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