Home Business Development Government Program - Mortgage Subsidy

 

State Program - "Subsidized Mortgage Loan"

 

 

 

  • The scope of the Program
    • Enterprise Georgia launches a mortgage loan subsidy program for families with newborns or with multiple children. The program involves subsidizing the interest on mortgage loans for five years term.
  • A potential beneficiary of the program
    • Family/single or widowed parent, if at the time of receiving the loan the child is under 12 months old, and born after September 1, 2021;
    • Family/single or widowed parent, if at the time of obtaining the mortgage loan they have three or more children;
    • Family/single or widowed parent who adopted a minor child after September 1, 2021.
  • Purpose of the loan
    • Purchase of an apartment/house (from either a developer and a private seller)
    • to build a house
  • Loan amount
    • The maximum loan amount is 200 000 GEL (₾). However, the cost of the purchased apartment / house or for building of the house may exceed 200 000 GEL (₾).
  • Funding Amount
    • In case of loan approval by a commercial bank under this program, the Agency shall subsidize the interest rate of the loan issued to the beneficiary within 60 (sixty) months after the loan is granted.
    • If loan terms issued by a commercial bank are less than 60 (sixty) months, the Agency will subsidize the annual interest rate on the given loan for the loan term.
    • In case the borrower has one or two children, the co-financing terms will be as followed:
      • The refinancing rate set by the National Bank of Georgia minus 3.5% (but not more than 6%);
    • In case the borrower has three or more children, the co-financing terms will be as followed:
      • The refinancing rate set by the National Bank of Georgia minus 1.5% (but not more than 8%).
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