The state guarantees for the First House  (Prima Casa) mortgage lending program will have a total value of almost RON 1.7 billion (EUR 377 million) this year, according to the Finance Ministry.

The amount grew by RON 200 million (EUR 44.3 million) compared to the initial estimations. The extra money came from last year’s unused funds.

Banks will be able to grant total loans of RON 3.4 billion (EUR 754 million) within this program, as the state guarantees half of the value of the credits. The money will be enough for about 20,000 loans. Some 18 banks are currently part of the program.

Over 180,000 Romanians have contracted loans through the First House program since the program was launched.

The state guarantee ceiling for the First House mortgage lending program amounted to  RON 2.5 billion (EUR 556.35 million) in 2015.

editor@romania-insider.com