Moscow, January 22 – The government has reduced the interest rate under the mortgage program for border regions from 3% to 0.1%, the press service of the Council of Ministers of the Russian Federation reports.
“The maximum rate of preferential mortgage loans that can be obtained for building or buying housing in rural areas from border municipalities has been reduced from 3% to 0.1%. Prime Minister Mikhail Mishustin signed a decree on this matter,” the letter reads.
The Cabinet recalled the launch of the Rural Mortgage Program since 2020.
“Since the beginning of the program, more than 109.7 thousand loans in the amount of 220.4 billion rubles have already been issued. Thanks to this, citizens have been able to buy or build more than 6 million square meters of housing,” the press release said.
The government said that a loan can be obtained under the Rural Mortgage Program for the purchase of a plot of land and the construction of housing on it, a finished private house, as well as for the construction of housing on an existing plot.
The information says: “The program applies to land or dwellings in rural areas and in cities with a population of not more than 30 thousand people.”