Caja Rural del Sur Joins Young Housing Guarantee Program to Facilitate Home Ownership for Young Andalusians

Caja Rural del Sur has joined, as a collaborating entity, the program Young Housing Guarantee by which the Junta de Andalucía will grant guarantees to make it more accessible for young Andalusians up to 35 years old to cover, together with the bank mortgage, 95% of the cost of acquiring their first home.

This program will facilitate the purchase of a home for young people since the guarantee will reach the amount of the loan that exceeds 80% of the reference price and up to 95% thereof.

Thus, all those young people who want to access their first home will have it easier when applying for the mortgage guarantee since, even if you have sufficient income to pay the mortgage payments, you will be guaranteed the amounts necessary to pay the down payment, 20% of the price of the home, taxes and expenses of the sale and financing.

The warranty will be current until the moment in which the outstanding mortgage loan principal is equal to or less than 80% of its initial amount.

Requirements to request endorsement

According to the requirements of the Young Housing Guarantee program, the reference price limit for homes is 295.240 eurosbut it increases by 20% for homes with energy classification A or B. The minimum amount to finance is established at 30,000 euros.

The guarantee request will be made at the Caja Rural del Sur offices at no cost. Applicants must be registered in a municipality in Andalusia, be up to 35 years old and use the home as their habitual residence for at least two years. It is also an essential requirement to be up to date with compliance with tax and Social Security obligations.

They will only be provided Mortgage guarantees for first-time home buyers, whether free or protected or new or used. The guarantee is also compatible with any other aid for the purchase of housing as long as it does not exceed 100% of the price of the home.

with the loan preconceived by the entity, the Junta de Andalucía will resolve the granting of the guarantee and, subsequently, the loan will be granted.

All those interested in accessing more information about this mortgage access program can obtain it by going to any of the offices in the Caja Rural del Sur office network or through digital banking at www.cajaruraldelsur.es.