The people who qualify for these loans should provide a personal inflow of at least 5% of the purchase price or the construction costs of the home. The maximum financing period extends on 30 years.
Romania’s Government in June decided to increase by EUR200 million the guarantee ceiling for the state supported “First Home” program in 2012, and the money will be accessed only by the banks that exhausted the amount allotted previously and want to continue lending within the program.
The “First Home” program was launched in 2009, providing state guarantees for mortgage loans up to EUR60,000, and, since 2010, up to EUR70,000 for homes not yet built and EUR75,000 each for new homes bought by persons organized in associations.