After the government’s decision to double the Program’s budget “My house” and the issuance of the relevant decisions, the Hellenic Development Bank HDB reports that it completed the necessary checks with quick and transparent procedures, within a few hours and earlier than the target dates, committing an additional 275 million euros to the banking system.

It is recalled that, through the “My Home” program, young people or new couples, aged 25-39 years, can acquire a home with a monthly installment significantly lower than that corresponding to market mortgages, as 75% of the capital is granted interest-free by DYPA, while, for those with three children, those with many children and those who acquire this status, the loan is interest free in full. The “My Home” Program has a total budget of 1 billion euros.

The amount of incoming active applications for the Program managed for the D.Y.P.A. the Hellenic Development Bank HDB, amounts to 650 million euros, already covering 85% of the budget of the Ministry of Foreign Affairs. which now amounts to 750 million euros.

Based on HDB data, the amount of the commitment concerns 8,000 housing loans, with the average approved financing amounting to approximately 105,000 euros.

75% of each loan is granted interest-free (subsidized by the Public Employment Service – DYPA, managed by the Hellenic Development Bank – HDB), while the remaining 25% is granted by the cooperating financial institutions. In addition, there is the possibility of a full interest rate subsidy for families with three and many children.

The relevant applications have already been forwarded to the commercial banks. Applications continue until the available funds are exhausted (about €100 million left)

The CEO of HDB Athena Hatzipetrou stated in this regard: “The Hellenic Development Bank-HDB responded once again, with speed, transparency, efficiency and reliability, to a large social sensitivity program announced and implemented by the government.

With the Co-financed Housing Program “My House”, the Hellenic Development Bank HDB makes a decisive contribution to credit expansion, offering sufficient collateral to the banking system and – most importantly – direct access at a lower cost of money to borrowers, in this particular case to young people with low incomes.

The Hellenic Development Bank HDB, in recent years, has established itself in the position it deserves in the economic planning of the State.

It is no coincidence that in both developed and developing economies worldwide, the long-term contribution of development banks is crucial and particularly effective…”.

The Public Employment Service (PYPA) announced details of the implementation of the “My Home” housing program.

Specifically, in the period from April 3, 2023 to August 9, 2023:

  • A total of 39,587 applications were submitted, of which 34,420 have already been evaluated, i.e. almost 9 out of 10 (87%).
  • Of the 34,420 assessed applications, 23,393 received pre-approval, i.e. almost 7 out of 10 (68%), while the rest were rejected as they did not meet the conditions.
  • Of the 23,393 pre-approvals, 7,976 loans have been approved, i.e. more than 1 in 3 (34%), as a property has been found and the legal and technical audit has begun, with an average approval amount of 105,584 euros.
  • In total, the approvals have committed 631,604,489 euros, which corresponds to 84% of the total budget of DYPA of 750,000,000 euros for the program.

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