The Cabinet has approved the “First Home Plus” program. The maximum value of the homes purchased through the agency of the program is increased from 1 million to 2.5 million lei, IPN reports.

The applicant no longer needs to be employed in the Republic of Moldova. Thus, people who do not have employee status, such as freelancers, lawyers, bailiffs, mediators, taxi drivers, and also people from the diaspora will also be able to apply to the program.

The new provisions increase the maximum loan repayment term from 25 to 30 years. The guarantee rate of loans for homes located outside the municipality of Chisinau will be 50%, 65% or 70%, depending on the locality, life expectancy and status of the home.

The draft law also provides for the possibility of refinancing the mortgage raised earlier within the program. The beneficiaries will have the right to change their lending bank by refinancing the loan, in case of more advantageous conditions.

People who own homes with a living area of up to 50 square meters can apply repeatedly to the program.