Russian families with mortgage loans are supported by the Russian government with 11.8 billion rubles. The funds to repay the mortgage loan are received by those families in which the third and subsequent child was born from January 1, 2019.
It is noted that over 70,000 applications have already been approved throughout the country. The programme was launched in the fall of 2019. The funds received with its help are used to pay off the principal debt, but if it is less than 450,000 rubles, then the money can go to pay interest.
It is specified that the increase in funding for the support programme will allow paying mortgage debt for 26,500 families additionally. It is stated that together with maternity capital, people get significant savings on mortgage payments. To date, approximately 5,000 families, after having paid off the debt, were able to completely close their mortgage loans.