First House Program
On May 20, 2009, the Government adopted the First House program, designed to support people who first acquire a home on the Romanian territory. The First House program implies that the loans contracted through this program are guaranteed by the state through the National Loan Guarantee Fund.
Thus, the maximum state guaranteed by the First House program will be 60,000 euros. This value represents, according to Government estimates, the average price of a home in Romania. The guarantee occurs when the beneficiary fails to pay the loan, in which case the state reimburses the amount of the loan to the creditor bank, using the mortgage right on the real estate through ANAF.