First Home programme becomes functional in Moldova from 26 March

Chisinau, 26 March /MOLDPRES/ – Young families can apply for mortgage loans for Programme: First Home, which has become functional today.

The persons aged 18 – 45, officially employed and not having other properties, but also mortgages, can file applications within programme. For 2018, state budget provides for a loan guarantee fund worth MDL 50 million. The loans are granted by banks only in national currency (MDL). The personal contribution of beneficiary must be at least 10 per cent of the total value of the dwelling, i.e. three times lower than the usual mortgage loans. If dwelling costs MDL 1 million, beneficiary’s contribution must be at least MDL 100,000. "If the person wants and has more money, the first contribution may be larger, so he can take a smaller amount of the loan," said Finance Minister, Octavian Armasu.

The mortgage loans are available in three banks: Moldindconbank, Victoriabank and Moldova – Agroindbank.

Programme: First Home will only be able to purchase finished homes, put into operation and registered into real estate register (RBI). The maximum purchase price to be accepted for lending is MDL 1 million.

Approximately ten thousand families are expected to apply to Programme: First Home. "The size of the programme is MDL 1 billion, meaning that banks can give loans MDL 4 billion. If we make a simple calculation, that would mean more than ten thousand apartments," said Minister of Finance in an interview.

In order to facilitate access of persons to info, it was launched web site www.primacasa.gov.md, including a computer estimating costs of dwelling that can be purchased based upon family income of the beneficiary. Information on participation in the programme can be also obtained: 022 22 60 65.

(Reporter V. Bercu, editor L. Alcaza)