The purpose of these changes was to improve operation and expand the possibilities of using the program. Last year, 6628 loans for the total amount of USD 852.6 million were granted.

Plans for 2009 assume the implementation of 19.2 thousand loans worth USD 2.5 billion, three times more.

Growing interest


Everything indicates that these intentions have a chance to be realized. Information from Good Finance, which is an institution that supports the financing of this program, shows that there is a growing interest in it from both commercial banks and their clients.

In January this year, 669 loans were granted with a government subsidy of USD 99 million, and in February it was twice as much. 1319 people used it, and the value of loans amounted to just over USD 204 million.

Spring and the beginning of summer are usually a period of increased traffic on the housing market, so it can be expected that in the coming months and the government program will be more popular.

Housing becomes more accessible to more people


The situation in the real estate market is also conducive to its implementation. Housing prices are falling, which means that own housing becomes more accessible to more people. Interest rate cuts made by the Monetary Policy Council are conducive to reducing the cost of loans.

This trend is more sustainable, so it will support borrowers. In the past, this factor was a strong stimulus supporting the demand for housing. If banks also start lowering interest rates on loans and do not exaggerate with the application of restrictive rules for granting them, the housing market has a chance to revive.

Purchase of the real estate

The subsidy reimbursing half the interest on the loan for eight years under the “Family on its own” program is also a serious incentive to buy an apartment. It should work like the tax reliefs used in the past in the form of tax deduction of interest costs or part of expenses related to the purchase of the real estate.

You can apply for a loan under the program at the branches of Honest Bank, Thrift Bank, Good Finance, cooperative banks affiliated with the ZAB regional bank, GFI Bank, and GCB branches operating within the Good Finance Savings.

You can also use the brokerage and professional help of financial consulting companies, among others Good Finance, Sure Invest or Free Finance. If you want to know about finances, just contact us.