• Customer's guide

With the First House Loan from Banca Romaneasca you have an installment as a rent, but the house is yours. Go to www.fostchirias.ro and find out how much money you can borrow with the rent you are paying now.

THE BENEFITS of the First House Loan 2010 from Banca Romaneasca:

• The file analysis is free of charge
• Up front fee: 0
• The house evaluation is free of charge
• The financial preapproval is valid for 90 calendar days
• The annual management fee for the FNGCIMM is paid in advance by the bank and recovered from the client afterwards

Eligibility Criteria:

• At the date of entering in force of OUG 60/2009 the beneficiary doesn't own or owned a house, individually or together with the spouse or with a third party, and he hasn't bought one after the OUG came into force, regardless the way it was obtained, excepting the parts from the inheritances
• The beneficiary can buy through Prima Casa program only one finalized house, in Romania, registered with the Land registry
• The beneficiary must have a minimum 5% of the transaction/construction price

What can you access through the First House Program 2010?  

LOAN CHARACTERISTICS:

• The beneficiaries are Romanian citizens, with permanent or temporary residence  in Romanian
• The age between 20-70 yrs old (25-60 for Sailors)
• Loan currency:  RON and EUR
• Maximum loan tenor: 30 yrs
• Minimum own contribution: 5% form the acquisition/construction price (the value must cover the differences between the acquisition/construction price and the maximum granted amount)

NECESSARY DOCUMENTS:  

• ID  of the applicant, spouse and co borrower (original)
• Marriage certificate, if case (original)
• Last utility invoice (electricity, phone, etc.-original)
• Proving documents for the income obtained in the current year (example: Income certificate)
• Proving documents for the income obtained in the last concluded year income (example: Fiscal Statement)
• Real estate ownership documents, cadastre file and certificate presenting the ownership right registration, Land Registry Extract for Information
• Pre-selling contract/ construction contract (with the estimative working plan) made by a Public Notary or with legalized signatures. 
• Self-Liability Statement given by the beneficiary, (and by the spouse if the spouse participate with the incomes as co debtor)
• ID copies for the Sellers

CREDIT costs:

• Loan cost at granting date:
  • The loan analysis fee: 0%
  • Collateral Evaluation fee: paid by the bank
  • Public Notary fee: depending on the price of the public notary who will supervise the transaction
• Cost during the loan tenor:
  • Monthly administration fee: 0%
  • Early reimbursement fee: 0%
  • House insurance: paid by the client
  • Management fee for the FNGCIMM: 0.0408% applied monthly to the outstanding balance of the loan.
  • Variable interest rate

 LOAN GUARANTEES in favor of the Bank

• Guarantee contract conclude between FNGCIMM, Banca Romaneasca and borrower that covers 100% the loan value (principal).
• Collateral Deposit equal with 3 monthly interest installments, opened in the loan currency
• Pledge over the present and future balances of the accounts opened with Banca Romaneasca.

LOAN GUARANTEES in favor of the Romanian state:

• First rank mortgage over the bought house in favor of the Romanian state, through the Ministry of Public Finance.
• Insurance of the mortgaged real estate having as beneficiary the Romanian state, represented by the Ministry of Public Finance

INTEREST RATE

How to calculate the variable interest rate:
Variable interest rate = Variable Part (Reference Index*) + Fixed Margin
*Robor 3M, Euribor 3M, reference index determined based on the loan currency, according to the value of the reference index valid for 15^th of March, 15^th of June, 15^th of September, 15^th of  December with application starting with 25^th of  March, 25^th of June, 25^th of September, 25^th of  December.  

You can find out more information about the mortgage loan by accessing the Customer's guide.