"New House" program to provide two categories of loans for new homes

The "New House" program will provide two categories of loans for new homes, respectively loans of up to 140,000 euros for which a down payment of 15% is charged and a state guarantee of 60% is granted, and 70,000 euros, with a down payment of 5% and a state guarantee of 50%, states the National Credit Guarantee Fund for Small and Medium-Sized Enterprises (FNGCIMM SA-IFN).

According to the quoted source, the down payment of 15% and the guarantee of 60% apply only to new homes that exceed the threshold of 70,000 euros up to 140,000 euros included.

For old houses (received at the end of construction works more than 5 years before the date of applying for the guaranteed loan) the conditions remain unchanged.

The "New House "program will extend two categories of loans for new homes (new home means any home, received at the end of the works, no later than 5 years before the date of application for the guaranteed loan as well as homes subject to intervention works in order to consolidate and / or reduce the seismic risk received at the end of the works at most 5 years before the date of requesting the guaranteed loan) respectively: 1) loans up to 140,000 euros for which a down payment of 15% is charged and a guarantee is granted in the name and state account in the amount of 60%; 2) and loans of up to 70,000 euros with a down payment of 5% and a guarantee in the name and state account of 50%", reads a FNGCIMM release sent on Thursday to AGERPRES.

FNGCIMM SA - IFN collaborates with 27 financial institutions based on working agreements.