The state mortgage program eOselya remains attractive for Ukrainians, however, its accessibility in practice directly depends on the borrower's official income and the region of housing purchase. Banks focus not only on the preferential rate but also on the financial burden of the family and the size of the down payment. Visit Ukraine writes about this.
Market analysis shows that even under favorable conditions of the program, not all families can meet the banks' requirements. The decisive factors are the price of the apartment, the region, and the ratio of the monthly payment to salary.
What income is needed to purchase housing through eOselya
A financially safe level is considered when mortgage expenses do not exceed 40-45% of the family’s monthly income. For a one-room apartment on the primary market priced at about 1.5 million UAH, the monthly payment for eOselya is approximately 13-14 thousand UAH. In this case, the total net income of the family should be at least 32 thousand UAH per month.
In large cities, the requirements are much stricter. In Kyiv, Lviv, and Uzhhorod, the minimum income for mortgage approval can reach 50-60 thousand UAH, depending on the cost of housing, the down payment, and the term of the loan.
Down payment and salary burden
The size of the down payment varies significantly between regions. The most expensive one-room apartments are in Lviv and Uzhhorod, where the down payment reaches 765 thousand UAH and 686 thousand UAH respectively. In Kharkiv, Zaporizhzhia, and Mykolaiv, collecting the initial payment can be achieved faster, on average in 9-10 months.
The financial burden is also uneven:
- in Lviv and Uzhhorod, the payment can consume up to 79% of the average salary;
- in Kyiv - about 43% of income;
- in Chernihiv and Sumy - approximately 30%, which is considered an acceptable level.
Thus, the real accessibility of eOselya is determined not only by the rate but primarily by the family's income and regional housing prices.
Recall that mobilized individuals can take out a mortgage at 3%, and banks have started accepting applications for 'eOselya'.