A program to subsidize home mortgages was approved yesterday by the Cabinet of Ministers

A program to subsidize home mortgages was approved yesterday by the Cabinet of Ministers. The government will pay the first 7% of the interest payment on a home mortgage loan. Currently, five banks offer mortgages at 10%. Aimed at young Ukrainian families, the program is for 15-year loans of up to $70,000 to buy a house or apartment built after 2015. Buyers must make a minimum payment of 15% of the cost of the dwelling. President Zelenskiy’s website says: “Mortgage lending will promote economic development and create additional incentives for young Ukrainians to stay and work in their homeland.”

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