The guarantee ceiling allocated for the New House Program, 2024 edition, in the amount of 1 billion lei, was approved in the government meeting on January 31, 2024. To facilitate access to the program, the costs associated with loan guarantees and notarial fees have been reduced.

The New House Program remains the most advantageous mortgage credit, distinguishing itself from other credit offers on the market by the minimum down payment of 5% and the state guarantee.

By Order No. 141/2024, the Ministry of Finance reduced the management fee from 0.30% per year to a level of 0.15% per year calculated on the guarantee balance, and by Order No. 177C/2024 of the Ministry of Justice, beneficiaries of the Program will also benefit from a 30% reduction in fees for authenticating sales-purchase contracts and any other documents concluded within the "New House" program, with certain expressly provided exceptions.

In addition to the mentioned cost reductions, the New House Program 2024 allows the enrollment of new financiers, who can submit their enrollment request within a maximum of 7 working days from the entry into force of the Government Decision.

The program has been carried out so far through 14 partner banks: BRD-GSG, BCR, Banca Transilvania, CEC Bank, ING Bank, Raiffeisen Bank, OTP Bank, Banca Românească, Unicredit Bank, Garanti Bank, First Bank, Vista Bank, Intesa Sanpaolo Bank, and Alpha Bank.

The ceiling allocated for the year 2024, amounting to 1 billion lei, will be distributed with the agreement of the Ministry of Finance to the participating banks, according to the ceiling requests submitted by the financiers, correlated with the proportion of guarantees granted by each participant in the previous year.

The New House Program 2024 continues to have a significant impact on society and the national economy, both through the volume of financing supported by state guarantees and through the remarkable performance recorded in the field of lending.

Thus, from the launch of the First Home Program in 2009 until the end of December 2023, 333,219 guarantees and guarantee promises amounting to a total value of 31.57 billion lei have been granted, supporting loans worth 63.8 billion lei.

The effective default rate of the guarantees is 0.316%, and in terms of value, approximately 0.26% in relation to the total portfolio of guarantees granted, well below the default rate of loans related to individual debtors across the entire banking system.

Complete information regarding eligibility criteria, required documents, and how to access the New House Program, 2024 edition, is published on the website www.fngcimm.ro.

For easy access to the program, FNGCIMM provides beneficiaries with the New House 2024 Guide, which can be accessed at the address https://www.fngcimm.ro/attachment/lSVMh_NOUA%20CASA%202024%203.pdf.

For constant updates and news about the New House Program 2024, FNGCIMM encourages following the official pages on social networks. (Photo: Freepik)