The «Family Mortgage» program in 2024: requirements for the borrower
The «Family Mortgage» program is one of the preferential programs provided to citizens of the Russian Federation for the purchase of housing. Valid until July 1, 2024, it provides an opportunity to get a loan at a preferential rate and has a high probability of extension.
In order to use the «Family Mortgage» program, the borrower must meet certain requirements. The loan can be granted to families, including single parents with children, with one child born after January 1, 2018, with two or more children under the age of 18 or with a child with a disability.
The borrower can be any parent of a child born after January 1, 2018, or a disabled child. It is important that the borrower has Russian citizenship. In addition, the borrower can attract co-borrowers who are not necessarily the spouse or parent of the child. The age of the parents at the time of granting a bank loan must be at least 18 years old, and if the purpose of the loan is to refinance or build an apartment building, then at least 21 years old. The age of the borrower at the time of mortgage payment should not exceed 75 years.
The «Family Mortgage» program provides an opportunity to purchase housing on both the primary and secondary markets, as well as for the construction of an individual residential building or the purchase of a land plot with subsequent construction on it. The seller must be a legal entity, for example, a developer. The loan can also be used for the construction of an individual residential building or the purchase of a land plot with following construction on it. It is important to note that all work must be carried out under an official contract with a legal entity or an individual entrepreneur.
The «Family Mortgage» program opens up wide opportunities for families with children and single parents in order to provide housing and improve living conditions. After reviewing the requirements for the borrower, each interested family can make an informed decision about the possibility of obtaining a loan at a preferential rate under this program.
Got any questions about getting a family mortgage in St. Petersburg? Call the «Nevsky Prostor» certified real estate agency, and we will help you get a mortgage loan from a partner bank on favorable terms.
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