The affordable mortgage program at the rate of 3% per annum will be available from October 2022 to military personnel, law enforcement officers, medical workers, teachers and scientists. At the next stage – from the beginning of 2023 – it will be available to general public and allow all Ukrainians needing to improve living conditions and meeting the program requirements to get soft mortgage loan (at 7% per annum).

This was announced during the National TV marathon by First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko.

“We will launch the first stage of the “Affordable Mortgage” program which was initiated by President Volodymyr Zelenskyi yet before the war in October. Today this initiative is more than relevant, because thousands of people lost their homes as a result of the armed aggression of Russia and some people had to go abroad. We expect that by the end of the year military personnel, law enforcement officers, medical workers, teachers and scientists will receive about 2 thousand apartments on the terms of affordable mortgage. And at the second stage, all Ukrainians who need to improve living conditions and meet the program requirements will be eligible to take part in the program”, emphasized Yulia Svyrydenko.

Here is the main thing needed to know about the unique national program:
Who will be eligible to get an affordable mortgage

• Starting from October 2022, the program will be available to military personnel, law enforcement officers, medical workers, teachers and scientists.
• At the second stage, the program will be available to all Ukrainians aged from 18 to 70 years old (age limits are established on the fact that a person must correspond to banking criteria in terms of loan repayment), provided that they meet particular requirements.

Conditions of the “Affordable Mortgage” program

• Basic condition to get an affordable mortgage: 52.5 square meters per person + 21 square meters for each family member. That is, a family consisting of three members is eligible to get a mortgage loan for purchase of apartment up to 94.5 square meters.
• Interest rates:

1. 3% (for military personnel, law enforcement officers, medical workers, pedagogical staff and scientists)
2. 7% (for others)

• Mortgage term – up to 20 years.
• Down payment – 20% of the cost of housing.
• Participants of the programs shall not participate in others similar national programs. For example, if you repay any outstanding loan under the youth housing program, then you will not be eligible to use an affordable mortgage.
• Interest rate remains fixed for the entire mortgage term.

How to apply for the program
The algorithm of participation in the mortgage program is simplified to the maximum extent. A person will not need to go to the bank to apply. He/she can go through all procedures using Diia. It will save time and allow to achieve maximum efficiency. There is no need to drown in bureaucracy, waste efforts and time for long queues and numerous documents.
Thanks Diia, the process of decision-making by participating banks based on mortgage applications will be partially automated. Banks will independently adopt decisions on the basis of data obtained from the registers. Therefore, there will be no corruption.

About money
The authors of this program state that while processing mortgage applications, in terms of money one need to focus to average cost of housing in the regions.

If you want to buy something more expensive or of larger area, you will have to pay extra money on your own.
For example, you live alone and are eligible to apply for a mortgage loan to purchase housing having an area of 52.5 square meters, but you want an apartment of 70 square meters. Such 17.5 square meters in excess will have to be paid separately. 

The authors of the program assure that an affordable mortgage will definitely not help people who want to buy a penthouse in the city center. The program is not designated for elite housing.