The Ministry of Finance announced changes in the “Family mortgage” from October 1 // Rates on the “Family mortgage” will be from 2% to 12% from October 1

The Ministry of Finance of Russia has submitted changes to the family mortgage program, which will come into force on October 1. The term of subsidizing the benefits will be limited to 15 years, and the size of the loan rate will be differentiated depending on the number of children.

The rate in all regions, except Moscow, St. Petersburg, Moscow and Leningrad regions, will be:

In Moscow and the Moscow region, as well as St. Petersburg and the Leningrad region, the conditions for obtaining the same, but the size of rates and maximum loan amounts differ. For families with one child, a preferential mortgage will be issued at 12% per annum and with a limit of the maximum amount of 12 million rubles, with two children - at 10% per annum and with a limit of the maximum amount of 15 million rubles, with three, four, five or more children - at 8%, 6% and 4% per annum, respectively and with a limit of the maximum amount of 18 million rubles.