Codices First House Program
According to the eligibility rules, those who want to benefit from a credit of a maximum of EUR 60,000 by the state have to meet a number of conditions related to both the income they have and the nature of the dwelling to be acquired. Here are the most important conditions First House:
Beneficiaries are not allowed to own a home or mortgage.
On the date of entry into force of the Government Ordinance no. 60/2009 (June 4, 2009), the beneficiaries of the program should not own a home, individually or jointly, with their spouses or other persons, no matter how they were acquired or have no credit mortgage. The conditions of the First House require that proof of this criterion be fulfilled by a declaration on the sole responsibility of the beneficiary, given in the atutentic form, to the notary.
Advance 5% for homes up to 60,000 Euros.
The advance to be paid is 5% of the purchase price, if it is less than or equal to 60,000 Euros. Emil Boc explains: If you want to buy a home of 100,000 euros, you pay 3,000 euros, plus the difference from 60,000 euros to 100,000 euros, or 40,000 euros. If your home costs 60,000 euros, you pay only 5%. List of Credit Conditions The First House requires the beneficiaries to pay the difference between the price and the amount of the loan to be paid with the advance.
Mortgage on the acquired dwelling and sales restrictions.
Those who access the program first house must lodge in favor of the Romanian state, a rank mortgage on the house purchased in credit guaranteed and is forbidden to sell the house for a period of at least five years and then, in the case of acquisition credit agreement , the new buyer must meet the same conditions as the First House, thus avoiding speculation on the real estate market.
Home insurance and collateral deposit to guarantee interest.
The credit beneficiaries undertake to secure the housing purchased from the guaranteed financing against all risks, transferring the rights of indemnity to the Romanian state. At the same time, they undertake to establish a collateral deposit to guarantee the interest, amounting to 3 interest rates.
In addition to this, the internal lending rules of the financing banks are also the conditions of the first home program and must be met by the beneficiaries of the loan.
Regarding the nature of the dwelling that is to be purchased, the conditions of the first house program are as follows:
The home must be located on the territory of Romania, be enrolled in the land book in accordance with the law and be free of charge.
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