The Government has approved of Thursday the First House Project. Therefore, it is ready to be implemented. PM Pavel Filip declared that this document is the last necessary step to implement the program and expressed his gratitude to all who contributed to make it reality.
The Document states the requirements for beneficiaries, houses, as well as the banks that can participate.
It also describes the procedure of how a mortgage and state liens are given.
According to Finance Minister, Octavian Armașu, the mortgage rates cannot be more than 9%.
The First House Project was approved by the Parliament at the end of last year. Only people under 45, with an official employment and that don't own real estate, or other mortgage loans are eligible.
Their salaries have to be at least the double of the monthly rate, while the state will pay 50% of the mortgage.
For 2018, state budget will offer for this project 50 million lei.
The program will be implemented through Organization for Small and Medium Enterprises Sector Development.