BCR grants EUR 420 million of First House loans in one year
Local lender BCR has granted over 10,000 mortgage loans as part of the First House program so far, with the total financing exceeding EUR 420 million on this program. BCR, which started offering the First House loans in August last year,…
Romania Insider · Journalist
· Updated · 1 min read
Local lender BCR has granted over 10,000 mortgage loans as part of the First House program so far, with the total financing exceeding EUR 420 million on this program. BCR, which started offering the First House loans in August last year, gave most of its loans in Bucharest – over 3,000 loans totaling EUR 150 million, while the rest were distributed among Transylvania, Banat and Crisana. 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.
