Thousands of My Home bids

More than 14,000 applications from young people and young couples have already been submitted for My Home, a new program of cheap loans for acquiring a first residence, with an interest rate corresponding to a quarter of the normal market interest rate.

The interest being shown is greater than expected, a fact that renders likely even the doubling of the initial amount that was foreseen by the Public Employment Service (DYPA), in order to reach 1 billion euros.

According to the latest data from DYPA, which Kathimerini has seen and is able to reveal, at least 600 of the applications have already been pre-approved by the banks, while there are also 50 cases that are ready to enter the main phase of the program, as the interested parties have submitted to the bank and the required authorities the documents for a specific property.

After all, finding the right property is the most important step for approval, provided that the prospective borrowers meet the basic conditions for participating in the program: they are up to 39 years old, have an income of more than €10,000 but no more than €16,000 and do not already own a home. Of course, what makes the program extremely attractive is the particularly low interest rate, since it is about a quarter of the market rate and 0% for families with three or more children, since 75% of the loan granted by DYPA will have no interest and only 25% will be given, based on the conditions determined by the participating banks.

This is what has led to the submission of at least 14,000 applications up to last Thursday.

It is reminded that the interested parties select the bank they want and then submit their applications.

All four systemic banks – Alpha Bank, Eurobank, National Bank and Piraeus Bank – are participating in the program.

Pancreta, the cooperative banks of Epirus, Thessaly, Karditsa and Hania, as well as Attica Bank are also taking part.