eOselya – affordable housing lending program
In today’s world, affordable housing is one of the main aspects of a decent life. The eOselya program was created to enable people to get affordable housing loans.
Let’s take a closer look at what this program is, what are the conditions for participation in it, and what you need to know about it.
“eOselya” program: a loan to buy your own home at 3% per annum
The government program “eHouse” has opened the door for many Ukrainians who dream of owning their own home. Launched in October 2022, the program has expanded its scope and become available not only to military personnel, educators, and healthcare professionals, but also to a wide range of citizens.
However, even with such a convenient program, it is worth knowing who exactly can take advantage of it and what conditions must be met.
Who can get a loan?
At the moment, the eHouse program offers several mortgage options with interest rates of 3 and 7 percent per annum, respectively. To get a loan at three percent per annum, you must meet the following conditions:
- To be a military officer
- To be a medical worker of state or municipal institutions
- To be a teacher
- To be a researcher in educational institutions of state or municipal ownership
This program provides a loan for up to 20 years with a minimum down payment of 20% of the cost of housing. However, it is important to know that if a person loses the status of one of these categories during the term of the mortgage agreement, they will be transferred to a 7% per annum interest rate.
In some cases, local authorities may compensate interest or part of it for certain categories of borrowers. Contacting local authorities for details may be helpful.
Updated conditions and categories
At the end of summer 2023, the terms of the program were changed and new opportunities were added. Now the following groups of people can get a loan at seven percent per annum:
- War veterans and their family members
- People who took part in hostilities
- Citizens with disabilities as a result of hostilities
- Families of fallen veterans and defenders of Ukraine
- Citizens who do not own real estate, or those whose real estate area does not exceed 52.5 square meters per person. If there are other family members, then another 21 square meters of real estate is allowed for each.
Terms of participation and restrictions
All persons planning to use the eHouse program must meet certain criteria:
- You are an adult citizen of Ukraine
- You must not be more than seventy years old at the time of payment of the last installment of the loan
- Not be under sanctions
- You do not participate in other government programs for housing rehabilitation
Types and restrictions of housing
It should be noted that housing with certain characteristics, a certain type, terms of commissioning, etc. are available under eOselya. You can only purchase housing from a developer who is an accredited partner bank of the program.
In 2024, it will be allowed to buy not only apartments but also residential houses under eHouse. At the same time, private houses must have an area of 62.5 square meters per person plus 21 square meters for other family members.
Conclusions
The eHouse program is an important step towards providing housing for Ukrainian citizens. Its conditions are becoming more accessible and expanded every day. We should not miss our chance.
Why should you contact GlobalBud Ukraine?
The eOselya program can be a big step for those who dream of owning their own home but have limited financial resources. It is important to follow all the conditions and recommendations of the program to make the most of the opportunities it provides.
Our team of specialists will help you to deal with all the problems and difficulties on the way to your dream property. Our specialists have the necessary knowledge and experience in this area.
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