Sberbank : Single-family housing mortgages under state support program for families with children now available at SberBank

SberBank has extended its state-backed mortgage offering for families with children. Now it covers the construction of single-family homes. Set for the entire lending term, which is up to 30 years, a discounted mortgage rate reaches 5.3%.

The program is available to families who had a second child between January 1, 2018, and March 1, 2023, and applies to families who have a child with disabilities.

Sberbank has introduced soft mortgage terms regarding single-family homes for families with a second child in the way. The decision that has allowed banks to extend their mortgage terms has recently been made by the Russian government. We support this move because many families consider buying a house after having children. Program participants can now take out a soft mortgage to buy an apartment in a new building or get a single-family home. Also, we see that Russians are increasingly interested in single-family homes amid the pandemic and great mortgage rates. In 1Q21, Sberbank received over 13,000 applications for single-family home construction across several mortgage programs, whereas in 1Q20 the metric was lightly over 6,000. As many as RUB 1.87 bn in such mortgages has been borrowed, which is more than twice the size seen last year.

Alexander Vedyakhin

First Deputy Chairman of the Executive Board, Sberbank

You can borrow up to RUB 12 mn when buying or building housing in Moscow and Moscow Region, St. Petersburg, and Leningrad Region. In other parts of Russia, it's up to RUB 6 mn. Down payments start from 15%.

Under the state support program, families with children can buy apartments in new buildings from 0.1% after joining a developer subsidy program. When registering a deal online, rates start from 5% per year.

You can apply for a state-backed mortgage for families with children and see the bank's decision online at DomClick.ru.