The initial mortgage payment has reached almost a third of the cost of housing

The initial payment on a preferential mortgage has reached almost a third of the cost of housing, according to data from Dom.rf (Izvestia has it). In January, the indicator was at a record high of 32%, and according to preliminary information, it rose even more in February — above 33%.

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Housing loans are becoming less affordable for Russians despite government programs. It is for them that the bulk of loans are being issued now, as the rates on market offers are prohibitive. According to Frank RG estimates, in February banks issued mortgages for 230 billion rubles. Of these, state—backed loans accounted for 80% (186 billion rubles), and the most widespread program for families with children accounted for more than 70% of all loans (168 billion).

The average initial payment on a family mortgage in February reaches 35%, according to preliminary data from Dom.rf. By law, it should be at least 20% of the cost of housing, but banks have raised this level higher on their own initiative — for example, for individual players it can reach 80%.

The initial payment of about a third of the cost of housing can be considered very large, said Natalia Milchakova, a leading analyst at Freedom Finance Global. The growth of the indicator greatly reduces the ability of Russians to solve the housing problem.