Alexey asked what changes are expected in the mortgage market on July 1. The answer points to a shift announced by the Ministry of Finance: all programs, except family housing loans, will be planned and implemented with state support in order to target concessional mortgages more precisely. At present, the most common option is a concessional 8% mortgage with a limit of 6 million, allowing residents to purchase a new home. This program is anticipated to close on July 1.
The second most popular choice is the family mortgage. Its terms are more favorable, offering a 6% loan with a 12 million limit, and this program has been extended through 2030. Nevertheless, significant changes are likely from July 1 onward. There are reports that interest rates for families with children over six could rise to 12 percent, and discussions are underway about excluding higher-income families from the program.
A third widely used option remains the IT mortgage: a 5% loan with an 18 million limit. This program is valid until the end of the current year, with no confirmed information about extending it into the following year.
So, who should pursue loans at favorable rates right now? Those aiming to buy a new building should try to secure financing before July 1, since the average rate on standard market loans is around 17 percent today.
From a strategic perspective, any rate above 12 percent is seen as a hurdle, and there is little expectation for a near-term decrease. The key rate sits at 16 percent and is not expected to drop in the coming months or quarters.
For buyers considering real estate or land, waiting until July to review Cyan’s information on new programs may be worthwhile. For instance, one partner, Dom.RF Bank, is developing a unified mortgage offering more favorable terms for individual housing construction than currently available.
Will developers reduce housing prices once collective concessional mortgages are abolished? The expectation is not to see a price drop. In fact, new-building prices are likely to slow their rise or plateau, while second homes could experience a gradual price increase over time.
What tools can borrowers use today when applying for a mortgage? If cost savings are the goal, it is wise not to limit choices to exclusive programs alone. Cyan highlights special programs and promotions from developers and banks. Many developers can offer lower interest rates by raising down payments, or alternatively, reduce the initial payment through subsequent overpayments.
Moat mortgages, which involve loans paid in installments, are gaining momentum because they reduce the financial burden and make homeownership more affordable. Given the high interest rates in the secondary market, Cyan is developing a collaboration with banks to offer a program that substantially lowers the rate, cutting both monthly payments and overpayments on the loan.
How should a borrower select the right option? At Cyan.Mortgage, a calculator assists by guiding the process. After completing a brief questionnaire, the borrower submits applications to one or more banks, receives approvals, and then chooses the best loan source. This approach is part of an ongoing effort to improve the experience. Soon, a one-click form filling feature will fetch data from State Services to streamline the process.
How objective is Cyan’s selection of mortgage offers? The platform guarantees the reliability of the choices because offers come directly from banks. A dedicated team monitors relevance continuously, with heightened scrutiny during periods of rapid change. Cyan operates as a financial platform licensed by the Central Bank, obligated to verify that the signed loan agreement reflects precisely the terms shown at the approval stage. Responsibility is shared with the partnering banks. Among Russian platforms, only Cyan specializes in mortgages and positions itself as the country’s first dedicated financial mortgage platform.
People often ask how far Cyan has progressed in five years. More than 1.2 million families have benefited from its services, and banks have provided over 400 billion rubles to help them acquire real estate. During this period, the entire set of confidential files underwent a comprehensive digital transformation. The customer journey has been refined to reduce fragmentation and move toward a consolidated experience, though there is still no single platform that presents every program from every bank. The shift from scattered information to an integrated system has already begun, with active efforts to consolidate.
Another challenge is information overload: customers worry about missing important details. Personalization becomes essential. The aim is to offer tailored options rather than a sea of choices. The customer does not want to sift through dozens of offers; instead, they prefer a curated set of the three best options for their needs. The goal is a seamless real estate transaction experience that unites a financial platform, property search tools, real estate agents, digital mortgages, and electronic recording of transactions. The plan is to bring all these elements together in a single, efficient workflow so customers can finalize purchases quickly and with minimal offline visits.