In September 2021, Sberbank lowered the minimum age of mortgage borrowers to 18 years. During the validity of the conditions, more than a thousand people have issued such a loan in the amount of more than 2.8 billion rubles, most of which are for ready-made housing.
Most transactions were concluded in the Moscow region, Ufa, Yekaterinburg, Moscow, Kazan, St. Petersburg, Perm and Chelyabinsk.
“The most attractive mortgage program for young people aged 18 to 21 is the Acquisition of Finished Housing. Borrowers of this age give up the prospect of acquiring new housing and the possibility of arranging "for themselves", in favor of a high speed of moving, the absence of additional expenses that are difficult to predict: the purchase of materials, the search for contractors. We are constantly improving the terms of housing loans and are confident that lowering the age of borrowers will help young people realize their dream of owning an apartment. Given the positive dynamics from September 2021 to December 2021, we can assume that the number of transactions will continue to increase,” said Nikolai Vasev, Vice President of Sberbank, Director of the Domclick division of Sberbank.
Young people can apply for mortgage programs "Acquisition of finished housing" and "Acquisition of housing under construction".
The conditions for issuing mortgage loans for young people are the same as for an older audience. The interest rate in the first year of the loan is from 0.1%, the down payment is from 10%, the loan term is up to 30 years. The minimum loan amount is 300 thousand rubles, the maximum is 100 million rubles. The length of service at the current place of work must be at least three months.
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