Loans

“New Home” Loan

Wise choices are the best, especially in the long term.

Choose now the New Home loan with a down payment starting from 5% of the purchase price and an extended repayment period of up to 30 years.

  • Advantages
  • Interest Rates and Fees
  • Eligibility Criteria
  • Guarantees
  • Required Documents

Advantages

That’s why we offer an affordable solution withinthe government program “New Home”:

  • FLEXIBILITY – You can have multiple types of income (salaries, pensions, commissions, freelance income, copyrights, etc.), you receive financial pre-approval valid for 90 calendar days, and you have the possibility to obtain a guarantee commitment from FNGCIMM.
  • MINIMUM 5% DOWN PAYMENT ofthe purchase price for all categories of homes if the purchase price is up to €70,000; respectively, respectively a minimum of 15% for new homes if the price is between €70,001 and €140,000 (LEI equivalent).
  • 0% FEES – 0% monthly loan administration fee, 0% file analysis fee, and 0% early repayment fee. A guarantee management fee payable to FNGCIMM applies, amounting to 0.15% annually on the outstanding guarantee balance.
  • EXTENDED LOAN PERIOD – Up to 30 years, resulting in lower monthly installments for borrowed amounts, even up to €119,000 (LEI equivalent).
Loan Characteristics
Financing for any type of home priced up to 70,000 € RON equivalent of 66,500 €
Financing for a new home priced between 70,001 € and 140,000 € Minimum: RON equivalent of 59,501€

Maximum: RON equivalent of 119,000 €

Loans under the “New Home” program are intended for the purchase of new homes whose completion documents were signed no more than 5 years before the loan application date – in this case, the financed value is 66,500 € (RON equivalent).

For other types of homes, financing ranges between 59,501 € and 119,000€ (RON equivalent).

Exim Romanian Bank can grant loans only within the ceiling allocated by the Ministry of Finance.

Interest Rates and Fees

Interest Rates

Product Currency Reference Index IRCC (%) Fixed Margin (%) Variable Interest (%) APR (%)*
New Home RON IRCC 5.58 2 7.58 7.97

*APR is calculated for a loan of 300,000 RON over 30 years; the monthly payment is 2,114.10 RON, APR 7.97%, total payable amount 768,414.52 RON.

The APR includes RNPM fees, valuation fee, FNGCIMM guarantee management fee, and account administration fee. It does not include third-party costs (insurance, notary fees, land registry costs, etc.).

The interest rate is variable and is revised quarterly, on 1 January, 1 April, 1 July, 1 October, taking into account the CCB 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 CCB (IRCC benchmark) index can determine the fluctuation of loan rates and the total amount payable for your loan. The fluctuation of your income may affect the possibility of paying the monthly installments related to the loan.

Fees

Fee RON
File analysis fee 0
FNGCIMM guarantee management fee 0.15% annually
Guarantee promise analysis fee 0.15%
Early repayment fee 0%

Other Costs Paid by the Client

  • Property insurance policy –the cost differs depending on the insured amount and/or on the company where the insurance policy is signed.
  • Registration tax with theNational Real Estate Publicity Register– 88.40 RON
  • Notary fees – the cost differs depending on the taxes and fees practiced by the public notaries authenticating the selling-buying contract/mortgage contract.
  • Property valuation report –will be paid by the client prior to the granting of the loan: 636 RON for apartments and 890 RON for houses/villas with land

Eligibility Criteria

You can apply for a New Home loan if:

  • You are a Romanian citizen; the co-borrower may be Romanian or a foreign citizen with permanent or temporary residence in Romania
  • You are at least 20 years old and not more than 70 years at the end of the lending period;
  • Your minimum net monthly family income is 2,400 RON
  • If needed, you may bring up to two co-borrowers (spouse, parents, children, siblings)

Additionally:

  • At the time of application, you either:
    • Do not own any home, or
    • Own at most one home (not acquired through the Prima/New Home program) with a usable area under 50 sqm
  • You provide:
    • Minimum 5% down payment for homes up to 70,000 €
    • Minimum 15% down payment for homes between 70,001 € and 40,000 €
  • You purchase only one completed home located in Romania and registered in the Land Register

Guarantees

  • First-rank mortgage on the purchased home in favor of the bank and the Romanian state
  • Guarantee issued by FNGCIMM covering part of the loan
  • Pledge over a collateral deposit equal to three interest installments
  • Pledge over all current and future account balances of the borrower
  • Home insurance policy assigned to the bank and the Romanian state

Required Documents

  • Identity documents of the applicant, husband/wife and co-debtor (in original);
  • NAFA accord and income documents (as the case may be);
  • Real estate ownership documents, cadastral documentation, land registry extract
  • Pre-sale contract specifying property price and down payment
  • Self-declaration confirming eligibility under the program
  • Energy performance certificate