Loans

Noua Casa Credit

Prudent choices are the best, especially in the long run. Choose now the Noua Casa Credit with an advance of at least 5% of the purchase price of the real estate and an extended lending period of up to 30 years. 

  • Your advantages
  • Interest rates and commissions
  • Eligibility criteria
  • Warranties
  • Required documents

Your advantages

  • FLEXIBILITY – You can have several types of income (salaries, pensions, commissions, incomes from self employed activities, copyright, etc.), you have financial preapproval valid for 90 calendaristic days and the possibility to obtain a guarantee promise from FNGCIMM.
  • ADVANCE OF MINIMUM 5% of the purchase price for all categories of housing, if the purchase price is maximum 70,000 euros, respectively at least 15% of the purchase price of new homes, if the price is between 70,001 and 140,000 euros, lei equivalent.
  • 0% MONTHLY COMMISSION for credit administration fee, 0% file analysis fee and 0% early repayment fee. A guarantee management fee due to FNGCIMM of 0.30% is applied annually to the guarantee balance.
  • EXTENDED LENDING PERIOD of up to 30 years, implicitly lower monthly installments on borrowed amounts even up to EUR 119,000 (RON equivalent).

 

Characteristics RON
Financing any category of housing, for which the purchase price (value) is maximum EUR 70,000 RON equivalent of EUR 66,500
Financing a new home, whose purchase price is between EUR 70,001 and maximum EUR 140,000 Minimum: RON equivalent of EUR 59,501

Maximum: RON equivalent of EUR 119,000

The credits from the “New Home” program are intended for the purchase of new homes, for which the reception documents at the end of the construction/consolidation works were signed no later than 5 years before the date of applying for the loan – the financed value is in this case 66,500 euros (lei equivalent).

For the acquisition of other housing categories, the financed value falls between 59,501 and 119,000 euros (lei equivalent).

Exim Banca Romaneasca can grant loans within the ceiling allocated by the Ministry of Finance only.

Interest rates and commissions

Interest rates

Product Currency Benchmark CCB Value(%) Fixed margin(%) Variable interest rate(%) APRC*(%)
Noua Casa RON IRCC 5.96 2 7.96 8.51

*The APRC is calculated for a credit of 225,000 RON, granted for a period of 30 years. In calculating the APRC, have been included the fees charged by RNPM, the evaluation fee, the management fee charged by FNGCIMM, the account management fee. The APRC does not include costs charged by third parties (insurance, notary costs, OCPI costs, etc.).

The interest rate is variable and is calculated as the sum between CCB (IRCC) and the fixed margin of the Bank.

The interest rate is variable and is revised quarterly, on 1 January, 1 April, 1 July, 1 October, taking into account the consumer credit benchmark (IRCC) value calculated by the NBR at the end of each quarter, according to the calculation methodology regulated by GEO 19/2019 and published on the NBR website on the last working day of the quarter.

The change in the benchmark index can determine the fluctuation of the loan rates and the total amount to be paid for your loan. The fluctuation in your income may affect the possibility of paying the monthly installments related to the credit.

Commissions

Commission RON
File analysis fee 0
Guarantee management fee due to FNGCIMM (annually calculated on the guarantee balance) 0.30%
Single commission analysis guarantee promise (calculated on the value of the promise, proportional to the number of months of validity) 0.15%
Early repayment fee 0%

Other costs paid by the client

  • Real estate insurance policy – the cost differs depending on the insured amount and/or depending on the company where the insurance policy is done.
  • Registration fee at the RNPM– 87.6 RON.
  • Notary charges and fees – the cost differs depending on the fees and charges charged by the notaries public who authenticate the sale-purchase agreement/mortgage agreement.
  • The cost of the valuation report of the property brought under guarantee – will be borne by the client prior to granting the credit. The cost established and charged by the approved valuation companies: 500 RON for apartments, 600 RON ground floor houses with related land and 800 RON for multi-storey villas with afferent land.

Eligibility criteria

You can apply for a New Home credit if:

  • You are a Romanian citizen, the co-debtor is a Romanian or foreign citizen with permanent or temporary residence in Romania;
  • You are at least 20 years old and you do not exceed 70 years at the end of the credit period;
  • The monthly income per family is at least 1,200 lei;
  • If necessary, you can bring a maximum of two co-debtors, having the status of spouse, parents, children, brother/sister;
  • At the date of applying for the loan, either you do not own exclusively, or together with your husband or wife, any home, or you own exclusively, or together with your husband or wife, at most one dwelling, acquired by any other way than through the First Home Program, with a usable area of less than 50 sqm;
  • You have a minimum advance of 5% of the purchase price for all categories of housing, if the price is maximum 70,000 euros, RON equivalent at the NBR exchange rate valid on the date of conclusion of the pre-sale-purchase agreement, respectively of at least 15% of the purchase price of new homes, if the price is between 70,001 and 140,000 euros,  RON equivalent at the NBR exchange rate valid on the date of conclusion of the pre-sale-purchase agreement;
  • You purchase within the program a single completed home, located on the territory of Romania, registered in the Land Registry under the law.

Warranties

  • First tier mortgage on the house purchased with the credit, established in favor of the bank and in favor of the Romanian state (Ministry of Public Finance) for new buildings, proportional to the guarantee percentage.
  • The guarantee issued by FNGCIMM in the name and on behalf of the state, through the Guarantee Agreement concluded between FNGCIMM, the bank and the borrower, for the guaranteed amount from the loan balance.
  • Mortgage on the collateral deposit established by the borrower with the bank during the entire loan period, representing three interest rates, established in favor of the bank.
  • Mortgage on all present and future credit balances of the borrower’s accounts opened with the bank.
  • Home insurance policy transferred in favor of the bank and the Romanian state, represented by the Ministry of Public Finance.

Required documents

  •  Applicant, spouse and co-debtor’s identity documents (original);
  • ANAF agreement;
  • Real estate ownership documents, cadastral documentation, conclusion of registration of property right, Land Book Extract for information;
  • Pre-sale-purchase agreement in authentic form specifying the price of the real estate and the amount paid in advance from own sources;
  • Affidavit attesting compliance with the eligibility criteria of the program;
  • Energy performance certificate.