BCR grants EUR 420 million of First House loans in one year
The First House program is a state-supported lending program for those who buy their first home. The state offers a guarantee of EUR 57,000, which is the maximum value of the loan. In case a buyer doesn't pay out their loan on time for 90 days, the state pays the bank the guarantee and the buyer's home goes into the possession of the state. The maximum price of the property should be of EUR 60,000, with the buyer paying a EUR 3,000 downpayment.