This text is an automatic translation from Русский. It was generated by AI and may contain inaccuracies.
Read original →Family Mortgage Program Set for Major Changes: What the Market Should Expect
Terms of the family mortgage program will change in fall 2025: rates ranging from 4% to 12% depending on number of children and region, new lending limits, and payment increases of 30-72%. How the reform will impact the real estate market.
AI summary
Family mortgage terms may change from October 1, 2025: rates will become differentiated depending on the number of children and region (from 4% to 12%), lending limits will change, and the preferential rate period may be limited to 15 years. The main effect of the reform is a 30-72% increase in monthly payments, which will make mortgages inaccessible for some families, especially those with one child in capital regions. The market is shifting from assessing property value to assessing borrowers' payment capacity.
The terms of family mortgages could change as early as this fall. Initially, new rules were planned to take effect on July 1, 2026, but the timeline was later pushed back. Currently, there's talk that the reform may not launch before October 1, and until then the program will continue operating in its current form.
Several changes are under discussion. The rate is proposed to be differentiated based on the number of children and region. For Moscow, St. Petersburg, and the Moscow and Leningrad regions, families with one child could see rates rise to 12%, with two children—10%, with three—8%, with four—remain at 6%, and for families with five or more children—drop to 4%. In other regions, rates are proposed to be 2 percentage points lower. At the same time, the preferential 6% rate could be preserved for all families regardless of region and number of children if the down payment is at least 50% of the property value.
Simultaneously, changes to the maximum loan amount are planned. For the capital regions, the limit could be 12 million rubles for families with one child, 15 million for two children, and 18 million rubles for three or more. For other regions, limits of 6, 8, and 10 million rubles respectively are proposed. Additionally, there's discussion of limiting the preferential rate to the first 15 years of the loan and introducing mandatory registration of the borrower at the purchased property.
This is an important issue for the market. Today, subsidized mortgages remain the main source of demand for new construction. According to the Central Bank, it's precisely government-backed loans that account for the majority of originations in the primary market. Regular mortgages at current rate levels remain expensive for many families. Therefore, any changes to the terms of the family program will inevitably affect buyers, developers, and banks alike.