Mikhail Mishustin signed a decree on reducing the rate on preferential mortgages to 7%

The decision was made on the instructions of the President of Russia

Photo: Alexey Orlov/

Prime Minister Mikhail Mishustin signed a resolution to reduce the interest rate under the Preferential Mortgage program from 9 to 7%.

“This measure will not only help more people to buy housing on favorable terms, but will also provide significant support to the construction sector, load capacities and related industries,” Mikhail Mishustin said at the June 22 Government meeting.

The duration of the program and its parameters remain the same. Get a mortgage for a purchase housing in new buildings construction private at home or acquisition land site for his construction is possible until the end of 2022.

Maximum size loan at a preferential rate in Moscow, St. Petersburg, Moscow and Leningrad regions is 12 million rubles. For other regions – 6 million rubles. Initial payment – not less than 15%.

So that people are not limited only to these amounts and have more opportunities in choosing housing, the maximum amount has been increased since May 1 loan for mortgages using a preferential rate of up to 30 million and 15 million rubles, respectively. At the same time, 12 million and 6 million rubles will be subsidized by the state, the rest can be issued at a market or other subsidized rate.

President of Russia Vladimir Putin instructed the Government to reduce the interest rate on preferential mortgages, speaking at the plenary session of the XXV St. Petersburg International Economic Forum on June 17.

The signed document amended Decree of the Government of April 23, 2020 No. 566.

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