How much do you need to earn to take a mortgage for an apartment under the 'eOselya' program: new real figures

The 'eOselya' program gives Ukrainians a chance to obtain their own housing at reduced rates — 3% or 7% per annum. It has been in operation for three years and has become one of the most popular state initiatives in the housing sector. Detailed conditions of the program were reported by Novyny.LIVE.

Who can take a mortgage under 'eOselya'

According to the company 'Ukrfinzhytlo,' applications can be submitted by Ukrainians aged 18 to 70 (at the time of loan repayment), with official income and without their own housing or with housing whose area is less than the established norms: 52.5 sq. m + 21 sq. m for each subsequent family member. 

For privileged categories — military personnel, medical workers, educators, and scientists — a reduced rate of 3% applies for the first ten years, after which it increases to 6%. For others — 7% with a transition to 10%.

What are the conditions for obtaining a mortgage under 'eOselya'

To start participating, you need to meet some basic conditions:

• Down payment: 20% of the cost of housing (or 10% for young people under 25).

• Loan term: up to 20 years.

• Housing area: no more than 52.5 sq. m + 21 sq. m for each family member.

• One-time commission: up to 1% of the loan amount.

• Insurance payments: 0.25–1.25% depending on the bank.

What income is needed to take a mortgage under 'eOselya'

The head of the partner relations department of 'Globus Bank,' Kateryna Lychana, explains that for a family of two with a combined monthly income of 40,000 UAH, banks usually approve loans provided that the minimum down payment is 20%. This will be enough to buy an apartment costing approximately 2.1 million UAH.

The average loan amount under the program is 1.65 million UAH, and the first monthly payment is about 11,000 UAH. Then it gradually decreases. If the housing costs 2 million UAH, you will need to make a down payment of 400,000 UAH from your own funds and take a loan of 1.6 million UAH at 3%.

Can relatives' income be considered?

The bank may consider the total income of the family, guarantors, or even parents if they are willing to guarantee the borrower's solvency. The key requirement is that the monthly payment should not exceed 30% of the family's income. In case of low incomes, the bank may reduce the loan amount or refuse participation.

For young Ukrainians (under 25), there are concessions: the down payment is only 10%. And for privileged categories, the rate will remain minimal — 3% for ten years. In the secondary market, the program only applies to housing that was put into operation no more than 3–10 years ago, depending on the borrower's category.

Thus, to realistically obtain a loan under the 'eOselya' program, you need to have an official stable income of 40 thousand hryvnias per month and prepare a down payment of 10–20% of the housing cost. 

Earlier, we reported that the first IDP family bought housing under the 'eOselya' program.