The government has allocated an additional 95 billion rubles to subsidize preferential mortgages

Additional funds, reports «Russian newspaper», in the amount of 95 billion rubles will be allocated this year to subsidize preferential mortgage programs. Order on this signed Prime Minister Mikhail Mishustin.

At the same time, about 41 billion rubles will go to subsidize the Preferential Mortgage program, more than 46 billion to subsidize the Family Mortgage and almost 8 billion to maintain a preferential rate for participants in the Far Eastern Mortgage.

The need for additional financing is associated, among other things, with an increase in the key rate of the Bank of Russia— it says in a message on the Cabinet website.

According to the Prime Minister, over the entire period of operation of preferential mortgage programs, more than 2 million loans worth more than 8.5 trillion rubles have already been issued. Meanwhile, preferential mortgages with an interest rate of up to 8% per annum can be obtained for the purchase of housing in new buildings, the construction of a private house or acquisition of land for its construction. As part of the Family Mortgage program, loans at a preferential rate of up to 6% per annum are issued for the purchase of housing, construction of a private house or purchase of land to families with one child born after January 1, 2018, as well as with two or more children under 18 years of age or with a disabled child.

source: «Russian newspaper»