Sberbank cuts down payment on government-backed mortgages to 15% of real estate price

Jun 16, 2020
  • Government-backed mortgages at a preferential rate of 6.4% can be taken out online on DomClick.ru until November 1, 2020
  • When registering a deal in electronic form, the rate gets cut by 0.3 pp to 6.1% p.a. (until June 30, 2020)
     

June 16, 2020, Moscow — Sberbank is cutting the down payment for mortgages taken out with state support from 20% to 15% of the real estate price.

Now, you can raise a mortgage at a preferential rate of 6.4% per annum to buy an apartment in a new building with the lowest down payment possible. When registering a deal in electronic form, you will receive a discount of 0.3 percentage points until June 30, 2020, which reduces the preferential rate to 6.1% per annum.

Program members can buy housing in a new building by taking out a loan up to RUB8 mln in Moscow, Moscow Region, St. Petersburg, and Leningrad Region. In other regions of Russia, mortgages are capped at RUB3 mln. The lending term is 20 years.

To select a suitable apartment from a trusted developer, customers can access the catalog of new buildings accredited by Sberbank throughout Russia on DomClick.ru with convenient search filters and virtual tours of apartments online.

According to DOM.RF, Sberbank accounts for 47% of all soft mortgage loans with state support taken out in Russia.

Nikolay Vasyov, Director of DomClick Division, Sberbank,

“Since the launch of government-backed mortgages – in less than two months – over 21,000 of our customers throughout Russia have raised mortgages at the preferential rate of 6.4%. Lower down payment will make soft mortgage loans even more affordable for people, which means that more families will enjoy great deals to get their place.”

Government-backed mortgages at the preferential rate of 6.4% can be taken out online on DomClick.ru until November 1, 2020.