At a government meeting, Russian Prime Minister Mikhail Mishustin announced that the Council of Ministers plans to allocate an additional 15 billion rubles to support the mortgage payment program for families with three or more children. The information was reported by TASS, the national news agency. This move signals a continued effort by the government to ease housing costs for large families and to stabilize their long term financial commitments in the housing market.
According to Mishustin, the extra funding will go to guarantee the fulfillment of mortgage loan obligations for families with three or more children starting after January 1, 2019. The plan is designed to provide a safety net that reduces the risk of missed payments and helps families maintain stability in their living arrangements. This support is aimed at ensuring that the burden of mortgage payments does not force families to compromise on essential needs or housing quality.
For eligible parents, the program offers payments up to 450 thousand rubles. This amount can be used to fully or partially repay outstanding housing loans, creating a meaningful reduction in monthly financial obligations and increasing the likelihood that families can stay in their homes as their children grow. The policy is framed as a targeted intervention to support demographic goals and housing security for larger households.
Mishustin highlighted that this decision will enable more than 33 thousand families to improve their living conditions. The broad reach of the measure reflects a prioritization of family welfare and the stability of households that contribute to demographic growth and social protection objectives. By easing debt burdens, the government aims to reinforce confidence in long term housing plans among these families.
In the same briefing, the prime minister noted that in the current year more than 60 billion rubles were allocated from the federal budget to repay funds to credit institutions. The majority of these allocations have already been accounted for, underscoring a sustained commitment to ensuring liquidity for lenders and borrowers alike. This financial flow is presented as part of a broader strategy to maintain housing market confidence and to safeguard the reliability of mortgage lending channels for citizens.
Additionally, the president of Russia, Vladimir Putin, was quoted as emphasizing the need for families with children to actively monitor income levels and to manage financial situations with prudence. The leadership message reinforces a policy stance that households should stay vigilant about their finances while benefiting from government support when navigating housing costs. The emphasis on income awareness aligns with broader social safety nets and economic planning efforts intended to protect family welfare.
On July 6, Mishustin announced an increase in the maximum amount of a preferential loan under the Rural Mortgage program from three million rubles to six million rubles. This adjustment broadens access to favorable financing terms for citizens living in rural areas and reflects a widening of the lending envelope to accommodate varying housing needs across regions. The extension of participation conditions signals a more inclusive approach to state lending and a recognition of rural housing demand as a priority area for public support.
The government also announced a reduction in the Rural Mortgage rate for border areas from 3 percent to 0.1 percent. This dramatic rate cut is positioned as a targeted incentive to encourage homeownership in remote and frontier districts, where housing affordability can be a significant barrier. The measure aims to stimulate investment in rural communities and to reinforce demographic stability by making mortgage access markedly more affordable for families choosing to settle in these regions.