Government will compensate the increase in the bank interest rate for the beneficiaries of the "First House" Program until July 2023
More than eight thousand families, who bought their homes through the "First House" Program, will receive compensation from the Government for paying the monthly mortgage interest under the program, as a result of the accelerated increase in the interest rate. A decision in this sense is to be approved in the meeting of Wednesday, January 25, of the Cabinet of Ministers. According to the Government, the state will thus compensate up to four percentage points of the increased amount of the interest rate. For this purpose, 75 million lei were provided in the state budget for 2023.
According to the Government, the compensation will be allocated monthly between January and June of the current year. The transfer of compensations for the month of January will be carried out in February of this year, after the implementation of the Government decision. In case of early repayment of the mortgage loan, the compensation transfer will cease from the month following the month in which the last installment was paid.
We remind you that, in order to mitigate the impact of the economic crisis on the beneficiaries of the "First House" Program, the maximum margin applied by creditors was capped at 3%.
Last year, the Government allocated additional resources to offset 50% of the interest rate increase for the period July to December. Any citizen of the Republic of Moldova aged between 18 and 50, at the time of applying for the mortgage loan, can be a beneficiary of the "First House" State Program.
The credit applicant must be officially employed in the labor field, in the public or private sector of the Republic of Moldova, and, respectively, have income from official sources.
