Prime Minister: The Affordable Mortgage program will come in effect on October 1, 2022, for four categories of citizens

The Government has taken the first, but very crucial step towards the implementation of the initiative of President Volodymyr Zelenskyy — the affordable mortgage program for Ukrainian families, announced Prime Minister of Ukraine Denys Shmyhal.

During its session on August 2, the Government has approved the conditions for providing affordable mortgage lending by the state-owned company Ukrfinzhytlo.

"The Affordable Mortgage program will start operating on October 1, 2022, for four categories of citizens. The first is contract servicemen and employees of the security and defense sector. The second category is medical staff. The third is teachers and pedagogical staff. The fourth category is scientists," said Denys Shmyhal.

As the Prime Minister noted, the mortgage rate for all these categories of citizens would be 3%. The term of the mortgage is up to 20 years. The minimum down payment is 20% of the cost of housing.

"Starting next year, the program will work for all Ukrainians who need improvement of living conditions. The rate will also be preferential and will amount to only 7% per annum," added the Head of the Government.

Denys Shmyhal emphasized that the new large-scale mortgage program will enable the activation of new construction and significantly contribute to the recovery of the economy: "Our goal is to ensure that every soldier, rescuer, teacher and doctor to have their own home."