PrivatBank launches mortgage with government support: 70% of the down payment and payments compensated by the state

PrivatBank has signed an agreement with the Pension Fund of Ukraine to implement a compensation mechanism within the 'eOselya' program. Now internally displaced persons and residents of frontline areas will have the opportunity to receive significant support when obtaining a mortgage loan, as reported in the bank's press release.Conditions of the 'eOselya' program:- 70% compensation for the first mortgage down payment (provided that the advance does not exceed 30% of the housing cost);- 70% reimbursement of monthly payments for the first year of lending (but no more than 150,000 UAH per year);- compensation for related expenses up to 40,000 UAH - commissions, fees, and insurance payments.'In practice, this means that the state covers 70% of the down payment on real estate up to 2 million UAH. The first payment will be approximately 180,000 UAH, and the monthly payment in the first year will be up to 4,000 UAH. Thanks to this, Ukrainians who did not have sufficient savings will be able to purchase housing under favorable conditions,' explained Dmytro Musienko, member of the Management Board of PrivatBank for retail business issues.Internally displaced persons and residents of frontline regions, who do not own any other housing except that located in areas of active hostilities or temporarily occupied territories, will be entitled to compensation. At the same time, the cost of housing may not exceed 2 million UAH.To receive compensation, you need to submit an application through the 'Dii' application, choose PrivatBank as the institution for mortgage registration, and submit the necessary documents. The Pension Fund will verify the data and make a decision on granting compensation.Lending conditions:- for IDPs - 7% rate;- for military personnel, medical workers, educators, scientists, and representatives of the security sector registered in frontline areas - 3%;- for other residents of frontline regions - 7%.Let us remind you that the first IDP family has already purchased housing under the 'eOselya' program.