The maximum margin that lenders will be able to apply in 2024 for state guaranteed loans within the First House Program will remain at the level of 3% a year. In 2022-2023, banks applied a similar maximum margin, IPN reports.

According to a draft law approved by the Cabinet, the 3% annual margin allows commercial banks participating in the state-run First House Program to cover the costs incurred for the mortgage and to grant a First House loan repayable in at most 25 years, with this period being set in accordance with the current normative framework.

The First House Program was launched in March 2018. According to the Ministry of Finance’s data, loans totaling over 4.4 billion lei have been granted through the program to purchase over 8,100 homes. Of the over 8,100 beneficiaries, more than 5,570 are families and more than 2,500 are unmarried young people. The average age of beneficiaries is 31 years.