Saturday02 November 2024
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Housing loans for displaced persons: who is eligible and how to apply for a mortgage.

Internally displaced persons can purchase housing through a loan at a preferential interest rate of 3% per annum for a term of up to 30 years. The down payment is set at 6% of the property's value.
Ипотека для переселенцев: кто и как может оформить кредит на жилье.
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This is reported by RBK-Ukraine referencing the State Fund for Youth Housing Construction. The information comes from Kontrakty.UA.

How to Register for the "Housing for IDPs" Program

To obtain a housing loan, you must submit an electronic application through the "Diia" portal. To participate, you must meet the following criteria:

  • have official IDP status
  • have official income for the last two quarters
  • not own residential property, except for properties in occupied territories or combat zones
  • not participate in other state housing programs

After submitting the application, the system will automatically verify the data against the relevant registries. If everything is confirmed, the candidate will be included in the register on the State Youth Housing website. The selection for the loan is conducted randomly under the supervision of German partners.

Conditions for Obtaining a Housing Loan

The interest rate is 3% per annum, and the loan term is up to 30 years, but not beyond the age of 65. The down payment must be at least 6% of the property's value.

The loan can be applied to an apartment or house built no more than 50 years ago, or reconstructed no more than 35 years ago. Participants in the program can choose the property themselves.

How the Loan Amount for Housing is Calculated

The housing area for one or two persons is 52.5 sq. m. An additional 21 sq. m is added for each subsequent family member. The maximum property price depends on the region. If the cost of the chosen property exceeds the loan amount, the buyer must cover the difference.

Before receiving the loan, a preliminary agreement must be signed with the property seller, detailing the characteristics of the property, its price, and the payment terms. It is also essential to confirm the availability of income to pay the loan.

Document Preparation

Successful candidates must submit documents to the regional office of the State Youth Housing within 30 days.

The following documents are required to process the loan:

  • copies of passports for all family members
  • copies of registration numbers of taxpayer identification cards (RNVKPP)
  • copies of IDP certificates for all family members
  • documents confirming family relationships
  • information from the registry about real estate (presence or absence of housing)
  • documents confirming solvency (certificate from the workplace, information about income and taxes)
  • written consent from each adult family member to participate in the program
  • preliminary agreement for the purchase of housing
  • report on the estimated value of the property

Most documents can be obtained in electronic format. After preparing them, you need to contact the regional office of the State Youth Housing, where you will fill out the loan application with an employee.

If selected, you have 30 days to find housing and prepare all documents. You can choose an apartment or house anywhere in Ukraine, except for temporarily occupied territories and active combat zones.

Conclusion of the Housing Purchase Agreement

Once the funds for your down payment and loan are credited to your account, you can start negotiating with the property seller and notary regarding the date of signing the purchase agreement. This date must align with the timelines specified in the preliminary agreement. The notary will provide you with information about all the necessary documents for the transaction.

Most documents will be provided by the seller, and you will only need identity documents and a marriage certificate if you are married. It is important to remember that the real estate purchase agreement must involve the other spouse or a notarized statement of their consent.

If the contract is signed and the information is sent to the State Youth Housing, the funds will be transferred to the seller's account. After the seller receives the money, the notary will update the information about the transfer of ownership in the state register, making you the official owner of the new property.

Previously, RBK-Ukraine reported that according to a survey, the majority of Ukrainians (48.4%) do not plan to buy housing in the near future, but 15.5% intend to make a purchase within a year. Another 11.8% plan to buy property within 2-3 years, and 14.1% within the next 3-5 years. Most buyers (69%) prefer apartments, while 21.8% choose houses. The majority spent between 30,000 and 70,000 dollars on housing, while only 12% purchased properties for amounts ranging from 70,000 to 150,000 dollars.

We also reported that the new construction market in Kyiv is facing serious challenges, which began with the COVID-19 pandemic and escalated due to the full-scale war. These factors have significantly complicated the ability of construction companies to fulfill their obligations to investors. Due to the unstable situation, the number of new projects in the market has significantly decreased, as many developers could not withstand financial pressure and were forced to suspend their activities.