21.Sep .2021 16:00

How Many Mortgage Loans Were Issued Within the State Subsidy Program?

How Many Mortgage Loans Were Issued Within the State Subsidy Program?
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47 mortgage loans have been already issued within the framework of the state subsidy program. As of today, 17 are under consideration, - LEPL Enterprise Georgia reports.

The new program of the agency Enterprise Georgia was launched on September 1. The Georgian government subsidizes mortgage loans for families with newborn children and multi-child families.

The terms of the state subsidy are:

•The state will offer a loan subsidy to families who will have a child from September 1 with a maximum loan amount of 200,000 GEL (about $64,012 /€53,801).
•The state will subsidise 6% of the loan if the newborn is a first or second child.
•The state will subsidise about 8% of the loan if the newborn is a third or fourth child.
•The state will subsidise about 4% of the loan for families who have three or more children (without having a newborn child).
•The loan interest will be repaid within five years.