Access to state mortgages for young people and relatives of IDPs has been simplified: what is expected
Kyiv • UNN
The government has made changes to the eHouse program, reducing the down payment for young people and expanding opportunities for IDP relatives. Certificates of “eRestoration” can now be used as a down payment, and the interest rate changes after 10 years.
The state loan program "eOselya" has been updated - now the program has easier conditions for young people, "eRestoration" certificates can be used as a down payment and new opportunities for relatives of internally displaced persons have appeared, the Ministry of Economy reported on Tuesday, UNN reports.
The government reportedly made a number of changes to the terms and conditions for granting preferential loans under the state loan program "eOselya" on August 16.
Youth
The down payment for Ukrainians under the age of 25 has been reduced to 10% (previously it was 20%). The option will come into effect 60 days after the date of publication of this resolution.
Certificates "eRestore"
They can now be used as a down payment for preferential loans under the government's eOselya lending program. This option will become effective 30 days after the publication of this resolution.
New opportunities for relatives of IDPs
Family members of an internally displaced person (IDP) of the first degree of kinship (parents, spouses, and their children) will be able to take out a preferential loan at 7% for IDPs. This option will become effective 120 days after the publication of this resolution.
Interest rate
The government is also making changes aimed at speeding up the repayment of old loans and using these funds to issue new preferential mortgages. To this end, the terms and conditions for granting a preferential interest rate under the eOselya program are being changed. For 10 years from the date of the loan agreement, the base interest rate will remain at 7% per annum, as before. However, starting from the first calendar day of the 11th year of the loan agreement, the interest rate will be 10% per annum.
For those categories that receive compensation up to the level of 3% per annum: starting from the first calendar day of the 11th year of the loan agreement, compensation will be provided up to the level of 6% per annum. The increase in the interest rate from the 11th year will not significantly increase the financial burden on the borrower, as the amount of accrued interest is halved after 10 years due to the repayment of the loan principal.
Most of the changes will come into force 30 days after their publication.