SFYH TO RENEW ISSUING HOUSING LOANS FOR YOUTH: UPDATED TERMS!
The SFYH has significantly updated the mechanism of mortgage lending to young citizens. Since February 1, such loans have become much more profitable for young families.
For this purpose, the Procedure for providing young families and single young citizens with long-term soft loans for construction (reconstruction) and purchase of housing has been amended.
The SFYH carries out such lending to implement the state program for providing youth with housing for 2013-2023 based on the Decree of the Cabinet of Ministers of Ukraine No. 488 on 11 May 2011.
Lending is carried out at the expense of the authorized capital of the SFYH, formed by the Ministry of Communities and Territories Development of Ukraine.
Who may apply for a youth loan:
• a young family of citizens of Ukraine, where the age of each spouse is up to 35 years inclusive (or single young citizens of the same age);
• a family (or single young citizens) where the husband or wife is a scientist under the age of 40, inclusive, who has a Ph.D., provided that the age of the other spouse does not exceed 35 years, inclusive;
• the application questionnaire submitted and registered by the applicant;
• the applicant (applying for a loan) is on the register of citizens who need to improve housing conditions (the so-called "apartment register", it is maintained by local authorities), or:
• each of the members of the young family does not own housing, except for housing in the territory from the list of territories where hostilities are (were) taking place or temporarily occupied by the Russian Federation, or:
• each family member owns a dwelling, the area of which does not exceed 13.65 square meters. m,
• confirmation by the applicant of their solvency: after paying the monthly loan payment, the balance of the average monthly income of the candidate and adult family members cannot be less than the subsistence minimum for each family member;
• the applicant does not belong to the sanctioned persons.
The loan term constitutes up to 20 years.
The fixed interest rate for the entire lending period constitutes 7% per annum.
The first contribution of the family constitutes 6% of the cost of housing.
Lending under the youth program is carried out based on a place in queue according to the date of submission of application forms from citizens. Information about a citizen's place in the queue and the movement of the queue is posted on the websites of the regional branches of the SFYH in the corresponding section of the "Housing programs" tab.
Where to register to participate in the program:
• online – through the websites of regional branches of the SFYH,
• in person - in regional branches of the SFYH.
For which objects the SFYH issues a loan under this program:
• housing (built no longer than 50 or reconstructed no longer than 35 years ago);
• housing under construction.
The selection of the object of lending is not restricted. A family independently searches for housing that it plans to purchase on loan.
At the same time, the youth loan is issued for the construction or purchase of housing within the entire territory of Ukraine, regardless of the place of submission and registration of the application questionnaire by an applicant.
The exception – the object of lending cannot be located on the territory included in the list of territories approved by the Ministry of Reintegration in which hostilities are (were) occurring or are temporarily occupied by the Russian Federation.
The housing area for which one may be issued a loan constitutes 52.5 square meters. m for a single citizen of Ukraine or a family of two persons and 21 square meters. m for each subsequent family member.
Therefore, you may contact the regional branches of the SFYH to seek advice (a list of such branches one may find on the SFYH's website) or familiarize yourself with the full terms of the youth lending program on the SFYH's website, and if you meet the criteria, you may register to participate in the updated program.