From October 1, the “Affordable mortgage” program at 3% per annum will be launched in Ukraine. At first, the program is available for four categories of citizens.
This was announced by Prime Minister Denys Shmyhal.
The following will be able to get a soft loan at 3% per annum for 20 years:
- contract military and defense and security sector workers;
- doctors;
- teachers and pedagogical workers;
- scientists
The government believes that the new mortgage program will enable the activation of new construction and contribute to the recovery of the economy.
How will it work?
The initial contribution should be 20% of the cost of housing. Employers of these four categories will be able to compensate employees for the initial contribution and part of the loan amount at the expense of budget programs (the amount of compensation depends on the length of service), the Ministry of Economy explains.
In general, within the framework of the program, it will be possible to purchase housing up to 52.5 square meters + 21 square meters for each family member. If we are talking about a regional center, then housing must be in a building that has been in operation for no more than 10 years. The cost should not exceed the estimated value determined by an appraiser or a bank employee.
Housing will be insured against the risks of accidental destruction or accidental damage for the full appraised value. From 2023, the program will work for all Ukrainians whose residential real estate does not exceed 52.5 square meters + 21 square meters for each family member. The rate will be preferential and will be 7% per annum.
When the program is extended to all Ukrainians, it will be possible to apply for a loan through the Diia portal.
