Russian authorities are considering ending the subsidized mortgage program for IT workers as early as December 2026, even though its current terms provide for it to continue through the end of 2030. RBC reported on October 23, citing sources familiar with the discussions.
The Ministry of Digital Development confirmed that the program's future financing was under review amid limited budget resources. No final decision to stop issuing subsidized loans has been announced.
The IT mortgage program was launched in 2022 to support employees of accredited technology companies.
Eligible borrowers can use it to purchase housing at interest rates of up to 6% annually. The government subsidizes the difference between the preferential rate and the market cost of the loan.
In 2024, the program was extended through December 31, 2030, while its eligibility rules were changed. Moscow and St. Petersburg were among the locations excluded from the program.
Authorities regard the initiative as one of the tools for retaining skilled workers in Russia's IT industry. Ending it ahead of schedule could change home-buying conditions for technology company employees who have not yet used the benefit.
The Ministry of Digital Development said, however, that commitments to borrowers who have already received loans would be honored. Existing preferential interest rates are expected to remain in effect for the periods specified in their loan agreements.
Discussions about closing the program are taking place amid budget constraints and rising expenditure on subsidizing preferential mortgage lending.
The program remains in operation. The final date of any possible halt to new lending and transitional arrangements for applications already under review have not been announced.