BPER Banca is offering mortgages to individuals under 36 years of age that cover up to 100% of the property value, facilitated by the Italian government’s First Home Fund (Fondo Prima Casa), managed by Consap.
The initiative, detailed on BPER Banca’s website, aims to address challenges faced by young people seeking homeownership in Italy, where property prices have been steadily increasing, with rises of around 4% annually in major cities like Milan, Rome, and Bologna. Rising interest rates on mortgages further complicate the situation, particularly for those with temporary or part-time employment contracts.
The “Mutuo 100 Per Cento Prima Casa” program, as It’s known, allows eligible applicants to finance the entire cost of a first home. The 2024 budget law extended the guarantee provided by the First Home Fund to 80% of the loan’s capital, a measure valid until December 31, 2027. This guarantee is available for mortgages exceeding 80% of the property’s value.
To qualify, applicants must be under 36 years of age and have an ISEE (Equivalent Economic Situation Indicator) of no more than €40,000. The maximum loan amount is capped at €250,000. BPER Banca offers both fixed and variable interest rate options, with the Consap guarantee available for both. The bank states that parental guarantees are not required for these mortgages.
Customers can apply for the mortgage directly through the BPER Banca app if they are existing clients, or through the bank’s website with assistance from advisors. The bank also offers a “Mutuo Green” option, specifically for the purchase of energy-efficient homes or for energy-saving renovations.
BPER Banca also promotes a “Mutuo Assicurato” (Insured Mortgage) designed to protect both the homeowner and their family. The bank’s website features a mortgage calculator and encourages potential applicants to schedule appointments with specialists to discuss personalized financing options.
