“BCR asked the guarantee fund for SMEs for additional guarantee ceiling under First Home 6 program,” the bank said Thursday.
Late September, BCR said it would grant loans totaling RON136 million under the First Home program following the reassignment of government funding for the program.
The lender also estimated it will grant nearly 1,000 loans to home-buyers by mid-October under the government-backed program.
BCR has granted around 4,700 loans under the program this year and around 36,000 loans, totaling EUR6 billion, since the start of the program.
People seeking to buy homes under the First Home program have a budget of RON710 million available as state guarantees, as the government reassigned guarantee funding from homes built by the housing agency ANL to all types of homes.
Based on current demand, the national guarantee fund for SMEs, which guarantees mortgage loans under this program, estimates the program will have sufficient funds for all applications to be approved by the end of the year.