“Fair Russia – For Truth” has developed a project on preferential mortgages of 3% for large families

Deputies from the Just Russia – For Truth faction, led by leader Sergei Mironov, and Senator Olga Epifanova have developed a bill on preferential mortgages at a rate of 3% for large families. Earlier, parliamentarians sent him to the government of the Russian Federation for a conclusion.

According to the explanatory note to the bill, which is cited by “RIA Novosti”, the law is supposed to establish that the interest rate on mortgage loans provided to families with three or more children will be subsidized up to 3% for the entire duration of such loans.

It is proposed to subsidize mortgage loans issued to citizens from January 1, 2021 for the purchase of real estate in the primary or secondary market.

It is assumed that the government of the Russian Federation from the federal budget will approve the rules for granting subsidies to Russian credit institutions and the joint-stock company DOM.RF to reimburse the lost income on mortgage loans for citizens with three or more children.

It is expected that the implementation of the initiative to subsidize the interest rate for large families is expected to require 34.4 billion rubles. According to the deputies, today in Russia there are about 1.5 million families with three or more children. It is expected that this amount of funds will be taken into account when developing the parameters of the bill on the federal budget for 2023 and the planning period 2024-2025. The law should come into force on January 1, 2023.



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