In less than a week, the state program “First House” will come functional. Thus, as from March 26 the citizens can submit applications for financing to the banks that signed cooperation contracts with the Ministry of Finance and the Organization for the Development of Small and Medium-Sized Enterprises (ODIMM). These banks are Moldinconbank, Victoriabank and Agroindbank, which, according to the authorities, are ready to accept applications for financing within the project at all their branches in the country. The information was presented in the program launch conference on March 21, IPN reports.
“As this program is implemented through state guarantee, the product becomes more accessible than other home loans. The annual interest rate that will be applied now is about 9.03%,” said Minister of Finance Octavian Armasu.
The program is intended for citizens of the Republic of Moldova younger than 45 who have an official job. Those interested should not own another home or have an active home loan, while the monthly salary should be twice larger than the monthly interest rate. The incomes earned abroad by the wife, husband or relatives of the first decree who will apply to take part in the program will be considered eligible. The purchased homes must be finished and put on the Real Estate Register of the Public Services Agency. The home loan will be repayable in at most 25 years.
The program will be implemented through ODIMM, which was empowered to issue guarantees in the name of the state in favor of the banks participating in the program. The home loans released within the program will be guaranteed by the state in the amount of 50% of the balance of the loan.
“Those who want to apply to the program will choose by themselves the house they want, will prepare the necessary documents and will submit them to one of the participating banks. Those interested can get a home loan of up to 1 million lei, with an advance of 10% of the home’s value. Later, the applicant will sign a sale-purchase contract with the seller and, together with the bank’s representative, the home loan contract at a notary. After the two contracts are registered with the Public Services Agency, they will be presented to the bank and this will release the loan,” said ODIMM acting director general Petru Gurgurov.
Details about the state program “First House” are available here. Also, the interested persons can get a detailed answer on (022) 22 60 65.
