The Ministry of Finance has announced significant changes in the ”Prima Casa” program, aimed at expanding citizens’ access to financing for home purchases in the Republic of Moldova. According to the new provisions, state guarantees will increase to 70%, improving beneficiaries’ lending conditions.
One of the main changes is that applicants no longer need to be employed in the Republic of Moldova, allowing freelancers and other categories to apply for the program. Also, the program will now allow the purchase of homes valued up to 2.5 million lei, up from the previous 1 million lei. The maximum loan period will also extend from 25 to 30 years, making it easier for people with lower incomes to access lower rates.
Additionally, the program will increase the guarantee rate for loans requested for homes outside the municipality of Chisinau to 65% or 70%, depending on the locality and the home status. This change will benefit families in rural areas and support regional economic development.
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Active program beneficiaries will have the opportunity to refinance their loans by switching to a more advantageous lending bank, and simplifying the application process will involve eliminating certificates issued by the Public Administration for owned properties.
These modifications aim to support at least 2000 families annually in purchasing homes and to extend the maturity term of mortgage loans up to 30 years to facilitate access to decent housing nationwide. Citizens returning to the country will access at least 30% of the homes purchased through the program.