Importance The problems of acquiring or obtaining affordable housing concern Russian citizens at all times. Mortgage lending is one of possible solutions to the problem of housing, and one of the ways to increase the availability of purchasing an apartment using a mortgage loan is mortgage insurance. Objectives The article discusses the conditions, under which the availability of certificate of mortgage insurance reduces the final cost of the purchased dwelling. Methods The paper analyzes the data of market survey conducted in 2013 by the Chair of mortgage lending and mortgage insurance of the Financial University under the Government of the Russian Federation on the subject "Research of information environment of the mortgage insurance market in the Russian Federation". These results are based on questionnaires received from 43 credit institutions. The study covered almost all Russian banks involved in mortgage lending except for institutions with State interest in equity. Conclusions and Relevance The undertaken study showed that mortgage insurance may lead to additional increase in the mortgage market at the level of 10-15%. The use of mortgage insurance reduces bank's exposure to credit risk, which leads to increased profitability of mortgage lending, and in the future, under competitive environment, to reduction in credit rates and, consequently, enhanced affordability of dwelling purchase and construction.
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