Over the 22 months of the Far Eastern and Arctic Mortgage Program, residents of the Arkhangelsk Region have taken out some 9,500 concessional loans worth around 37.7 billion rubles, according to the regional government’s press service.

“Since the program is popular, the Government has allocated 9.6 billion rubles in additional funding for the Arctic and Far Eastern mortgage program. This means that more people in the Arkhangelsk Region will be able to buy housing on preferential terms,” noted Governor Alexander Tsybulsky.

The Press Service added that the concessional mortgage is available to young families, single parents aged 36 and younger with an underage child, members of the Arctic Hectare and Workforce Mobility programs, defense industry workers, medical workers and teachers aged up to 70 years, and some other categories. The annual interest rate is 2% with a down payment of 20%.