“My House 2”: Details of criteria, beneficiaries, dates – Detailed example
Detailed information about the program “My house 2” was presented in a program of the state television. The budget of the program reaches 2 billion euros, while the beneficiaries of the program reach 20,000 and the age range is 25 to 50 years. Applications will be made from January 15.
Minimum income that someone should have is 10,000 euros and when he is single the “ceiling” reaches 20,000 euros.
When he is married it reaches 28,000 euros and there is also an surcharge of 4,000 euros for each child, in order to strengthen the institution of the family and make it easier to obtain housing.
It is noted that the “My Home 2” program has been designed in such a way by the Ministry of Family, in order to strengthen both large and single-parent families. The “ceiling” reaches 31,000 euros and there is an additional 5,000 euros for each child.
The maximum amount of the loan reaches 190,000 euros and essentially covers 90% of the property‘s objective value.
The repayment term is from 3 to 30 years, because there is a wide range that meets the needs of borrowers. The interest rate is zero for 50% because it is subsidized with money from the Recovery Fund and reduced for the remaining 50%.
For those with multiple children and three children, there will be an additional 25% subsidy on the interest rate.
The basic features of the program include that a house must be purchased that will be used only for a primary residence. It should have an area of up to 150 square meters. The prices and maximum value of the property are up to 250,000 euros.
Example for “My Home 2” program
- Apartment 80 sq.m, Nea Smyrni (1985)
- For sale 160,000 euros
- Purchase with loans: 110,000 euros
- Duration of 25 years
- Monthly installment without plan: 660 euros
- Monthly installment with plan: 440 euros
- Monthly benefit: 220 euros
- 25-year benefit: 65,000 euro