Time to start paying mortgage installments

According to Tejarat News, Mohammad Hassan Alamdari, a member of the Board of Directors of the Housing Bank, said about the method of repaying the facilities of the National Housing Movement plan: Provide through a subsidy paid by the National Housing Fund for the difference.

He said: “In this way, the low-income and middle classes will be able to repay the facilities.”

Alamdari stressed that applicants do not need to repay the facility installments during the construction period, adding: “People who are currently registered with the National Housing Movement do not need to pay the installments and must do so after the construction of their housing units.” It is usual for three years to start repaying the installments.

He explained: The Ministry of Roads and Urban Development is pursuing special arrangements for the low-income groups in need of support, so that these people will be exempted from paying facilities and better conditions will be provided for them in the field of housing.

According to IRNA, the Deputy Minister of Housing and Construction of the Ministry of Roads had previously said: “One of the features of the new housing plan (National Housing Movement) is that the number of facilities and interest subsidies is not fixed for all groups and is completely flexible;” Both the number of facilities and the subsidy provided as interest rates by the National Housing Fund will be completely different based on household income so that the target deciles can become housewives; There is also a special focus for low-income families so that these groups can also become housewives.

Source: IRNA