Domclick analysts report that since the launch of the Mortgage loan program for Sberbank IT, approximately 800 loans totaling 6.2 billion rubles have been issued. In July the Russian government expanded the regulation to extend the program to a broader group of borrowers.
The current terms of the program require the average three month salary of a prospective borrower to exceed 100 thousand rubles when the applicant works in a city with a population of up to one million residents.
Additionally, applicants earning more than 150 thousand rubles and employed in major metropolitan areas such as Moscow, St. Petersburg, Novosibirsk, Yekaterinburg, Kazan, Nizhny Novgorod, Chelyabinsk, Samara, Omsk, Rostov on Don, Ufa, Krasnoyarsk, Voronezh, Perm, and Volgograd may participate under the revised rules.
The director of the Domclick division of Sberbank notes that since the IT mortgage program began, more than 6 billion rubles in mortgage loans have been issued. The figures demonstrate strong interest in the program. With the legislative amendments and the broadened eligibility for housing loans at favorable terms, more IT professionals are expected to secure new homes at accessible rates.
The program requires a down payment of 15 percent of the property value, with a maximum loan amount set at 18 million rubles and a maximum repayment period of up to 30 years.