More than 100 thousand people took out a two percent mortgage in the Far East and the Arctic
According to the Far East and Arctic Development Corporation (FEDC), 100,410 families were able to purchase or build their own housing in the Far East and Arctic with the help of a loan at a preferential rate not exceeding 2% per annum. Of these, 1,647 loans were provided to residents of the Arctic. The total amount of loans issued amounted to 450 billion rubles.
At the end of 2023, the Russian Government changed the rules for issuing preferential mortgages in the Far East and the Arctic, making the conditions for purchasing apartments and building houses more attractive. The program retained the lowest interest rate in the country (2% per annum and below) and the size of the down payment (20%). At the same time, the maximum loan amount was increased from 6 million to 9 million rubles for those who wish to purchase housing in a new building with an area of over 60 square meters or build their own house.
Not only young families, teachers, doctors, participants in the “Hektar” and labor mobility programs, but also employees of organizations in the military-industrial complex can now take advantage of the preferential Far Eastern and Arctic Mortgages. Perfection of the program both in terms of financial conditions and in terms of extending it to new categories of the population naturally leads to an increase in its popularity among residents of the regions and to an acceleration in the rate of issuing preferential loans.
According to the Far East and Arctic Development Corporation (FEDC), 100,410 families were able to purchase or build their own housing in the Far East and Arctic with the help of a loan at a preferential rate not exceeding 2% per annum. Of these, 1,647 loans were provided to residents of the Arctic. The total amount of loans issued amounted to 450 billion rubles.
At the end of 2023, the Russian Government changed the rules for issuing preferential mortgages in the Far East and the Arctic, making the conditions for purchasing apartments and building houses more attractive. The program retained the lowest interest rate in the country (2% per annum and below) and the size of the down payment (20%). At the same time, the maximum loan amount was increased from 6 million to 9 million rubles for those who wish to purchase housing in a new building with an area of over 60 square meters or build their own house.
Not only young families, teachers, doctors, participants in the “Hektar” and labor mobility programs, but also employees of organizations in the military-industrial complex can now take advantage of the preferential Far Eastern and Arctic Mortgages. Perfection of the program both in terms of financial conditions and in terms of extending it to new categories of the population naturally leads to an increase in its popularity among residents of the regions and to an acceleration in the rate of issuing preferential loans.
