Russian Housing Loan Repayment for Families with Children: New Bill Updates and Information

2023-12-20 23:30:00

In Russia, a bill on introducing a mechanism for phased repayment of housing loans upon the birth of children in a family will be sent to the government for approval on December 21. Thus, families with children will be able to receive up to 1.8 million rubles in total to pay off their mortgage. The authors of the bill reported this.

“Today there is an urgent need to encourage not just fertility, but large families. One of the effective tools might be the introduction of a mechanism for the gradual repayment of housing loans at the birth of children, and with the birth of each new child, payments from the state increase,” said one of the authors of the bill, head of the “A Just Russia – For Truth” faction, Sergei Mironov. His words transmitNews”.

That is why the bill proposes to establish a payment of 500 thousand rubles at the birth of the first child, 600 thousand for the second, and 700 thousand rubles for the third, Mironov notes. Families with children will be able to receive up to 1.8 million rubles in total to pay off their mortgage, the deputy added.

In December in Russia promoted up to 30% down payment on a preferential mortgage at 8%. The authorities also leveled the maximum mortgage size for all regions, now it is six million rubles.

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