Whether Student Can Receive Mortgage

Mortgage loans for students and youth exist for long time. For this purpose it is not required even an initial payment. Only the state on behalf of regional authorities can provide such mortgage. Subsidies are developed and successfully are applied for this purpose. It allows this category of the population to attract the loans for payment of housing without initial payment.

People call this mortgage for students “a presidential”. The head of the country noticed that in order this dream come true it is necessary to work much and the first that is required to do is to get a good job.

There was also a note of experts who, say that even in case of good initiative such as subsidizing of the first payment of mortgage loan everything can be ruined by fabulous high cost of the housing credits of banks. The mortgage rate of financial organizations remains excessively high, in spite the statement of the government that it will be gradually reduced. Today the percent for a mortgage is very heavy for most of the working people, not just for students.

There is one more fact which influences on mortgage lending. It is a social and economic development of regions. The difference in their development has an adverse effect on the program as the amount of subsidies for some people becomes almost inaccessible. Even in more developed regions there is a negative factor – increase of prices for housing. All these factors also influence development of the mortgage program for students.

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