VTB began accepting applications for the purchase of housing on credit under the Rural Mortgage program at an interest rate of 2.7% per annum, the bank’s press service reported.
As part of this measure, citizens can apply for a loan for the purchase of real estate under construction or finished in a house with a land plot, town house or apartment building up to five floors high. At the moment, the program operates for rural areas and cities with a population of up to 30,000 inhabitants in 15 regions of Russia: in the Altai Territory, Bashkortostan, Belgorod and Voronezh Regions, Krasnodar Territory, Kaliningrad, Leningrad, Nizhny Novgorod, Omsk, Orenburg, Penza and Sverdlovsk Regions, Tatarstan, Udmurtia and Chelyabinsk region.
“During the pandemic, suburban real estate has become more popular than ever, and this trend is only getting stronger this year. Rural mortgages and preferential pricing options make it easier and more profitable to purchase or build a house in a village or small town. This is especially true for families with children, specialists who plan to work in the countryside, or citizens who have chosen a remote work format, “said Mikhail Seroshtan, head of the mortgage lending department at VTB.
Under the terms of the program, the maximum loan amount for most of the designated regions is 3 million rubles. At the same time, for the Leningrad Region, the Yamalo-Nenets Autonomous Okrug and the constituent entities of the Far Eastern Federal District, it has been increased to 5 million rubles.
The maximum loan term is 24 years. The minimum down payment is 10%. It is specified that in order to obtain a loan, the object purchased on a mortgage must be suitable for permanent residence and be provided with all the necessary utilities. In addition, its area must be sufficient per family member, in accordance with the norms established by local governments.
The rural mortgage program is being implemented within the framework of the state program of the Ministry of Agriculture “Comprehensive Development of Rural Areas”. Earlier, the issuance of such loans was resumed by Sberbank.
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