Romanian State Guarantee System For „First Home” Program To Be Simplified – PM

Boc also said the interest rates for these types of loans vary depending on the bank, and that further details would be announced in the following period, through the methodological norms.

Government sources told MEDIAFAX earlier Wednesday that more than 20 banks filed indicative offers on their effective annual interest rate, or AER, for the “First Home” program, varying between 5.5% and 14% for euro-denominated loans, and between 13% and 23% for Romanian leu-denominated loans.

The Romanian Government announced two weeks ago a program to guarantee the loans contracted for the purchase of the first home, within the maximum limit of EUR60,000, with the entire financing granted to this program reaching EUR1 billion.

The guarantee will be granted to the persons buying their first dwelling who did not previously benefit from a mortgage loan.