More than 1,000 families managed to buy new homes during three months, since the launch of the “First Home Plus” program in August. The new program implemented by the Government attracted a significant number of young beneficiaries, with an average age of 35 years. They raised mortgages to buy homes that cost 400,000 to 2.5 million lei, IPN reports.
The total value of loans taken out through the “First Home Plus” program reached 1.2 billion lei. The state guaranteed loans of 720 million lei. 90% of the applicants bought apartments in cities, while 10% opted for housing in rural areas.
The program, supported by state guarantees, makes the financing process more accessible and supports citizens in building a stable future “at home”, said the director of the Organization for the Development of Entrepreneurship (ODA) Vadim Codreanu.
The “First Home Plus” program proposes a series of novelties and concessions. The program was extended to cover freelancers, such as lawyers, artists, taxi drivers and other specialists who do not have the status of employee. The lending ceiling was increased to 2.5 million lei. The maximum lending period was extended from 25 to 30 years, which allows people with low incomes to pay lower installments. In addition, the guarantee rate for business homes will increase to 70% in rural areas, while in Chisinau it will remain at 50%, and a rate of 65% will be applied for new homes.
Current beneficiaries of the program can change the lending bank in case of favorable conditions and can reapply to the program for a larger home if they own an apartment with an area smaller than 50 square meters. Also, the procedures were simplified by eliminating the need for a certificate from the Public Services Agency regarding the homes owned.
Over 1,000 families bought homes through “First Home Plus”
