At least two thousand families that could not afford a mortgage loan before, now have the chance to purchase their own home through the First House Project.

According to an analysis published on infoalert.md, the program has more advantages than a simple mortgage loan.

After the offers of both the Government and Banks were examined, it was concluded that the First House Projects saves both time and money.

The loan offered by the Government's project is also bigger than those offered by banks.

For example, if an apartment costs 700 000 lei, the loan can reach to 630 000 lei, by 35 000 lei more than a simple mortgage loan.

 At the same time, the initial interest rate reached to 210 000 lei, or 30% of the credit's worth. In exchange, the loans offered by the program is by three times smaller.

The Loan Repayment Program of the First House Project also reached to 25 years, while that of a simple mortgage loan 10 and 20 years. Another advantage of this program is the fact that the state guarantees 50% of the loan.

A simple mortgage loan required at least a 30% down payment. The First House Project is available since March 26, 2018.