The government has expanded the terms of the "Rural Mortgage" program
Prime Minister Mikhail Mishustin signed a decree on changes in the terms of the preferential mortgage program for the purchase or construction of housing in rural areas. The "Rural Mortgage" program started working this year. With its help, citizens can get a loan at a preferential rate of 0.1 to 3% per annum for the purchase of a land plot and the construction of housing on it, an apartment in a new building, a finished private house, as well as for the construction of housing on an existing site. The down payment is 10%. The maximum term is 25 years. The mortgage applies to land or housing in rural areas and in cities with a population of no more than 30 thousand people. In the updated conditions of the program, the right to use maternity capital funds for the initial contribution appeared. Previously, there was no such ban, but banks could refuse a borrower, citing the absence of this provision in the legal act. "Rural mortgage" is very popular among the population. Since the start of the program, 148.6 thousand applications for 320.5 billion rubles have been submitted and more than 27.1 thousand loans for 53 billion rubles have been issued.