The new incarnation of the program introduces fixed interest rates of 0.9%-5.5% on state-guaranteed mortgage loans and raises the loan cap to RON570,000 from the current program’s limit of RON250,000. Current interest rates are calculated based on the variable ROBOR or IRCC reference index plus a fixed margin of 2%.
The amended program requires a down payment of 5%-10% of the loan amount and the home acquired must be of 50-100 square meters. State guarantees may cover up to 80% of the loan from the current limit of 50%.
Finance minister Eugen Teodorovici said the new program could be implemented starting the last week of June.