The Development of Mortgage Lending in Russia today

The system of mortgage lending in modern Russia requires the introduction of fundamentally new methods and tools that can improve the conditions for purchasing mortgage for the population, as well as taking into account the interests and requirements of creditors. One of such promising tools are mortgage points used in the USA mortgage system. The purpose of this work was to investigate the possibility of applying points to the practice of Russian mortgage lending. In the process of the study, the experience of foreign countries was studied, the main models of mortgage lending were identified and problems and trends in the development of the housing lending market in Russia were also pointed out. On the example of the acquisition of two types of housing on credit with the usage of mortgage points in St. Petersburg, it was found that with long-term loans, the application of points reduces the monthly payments of borrowers. When the mortgage interest rate is lowered, the effectiveness of the items also increases. This work can be the basis for a more detailed study of mortgage points in Russia.