The Romanian government has cut funding for the First Home program in 2016 by 50 percent to RON 1.5bn. The interest rate for the First Home program fell by half a percentage point. Additionally, the interest charge on mortgage loans offered by the fund will be reduced by cutting the maximum margin rate to 2 percent (from 2.5 percent) over ROBOR 3M.
Since launching the program in 2009, over 166,000 loan guarantees were granted for credits worth over RON 13.9bn.
