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  • Building
    • Building
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News
ICO guarantees for your first home
 19

  FEB

ICO guarantees for your first home

Recently, the Spanish government has approved new guarantees of 2.5 billion euros through the Official Credit Institute (ICO), aimed at individuals under 35 with annual gross incomes below 37,800 euros and families with dependents purchasing their first home.
 
To qualify for the ICO guarantee, in the case of two buyers, their combined incomes must not exceed the established limit for each individual. An additional 2,520 euros will be added for each dependent child, if applicable, and for single-parent families, the increase can be up to 70%.
 
The guaranteed individual's assets must not exceed 100,000 euros, and, with few exceptions, individuals owning another property cannot avail of these guarantees.
 
The ICO can guarantee up to 20% of the loan, increasing to 25% if the home has an energy rating of D or higher.
 
The guarantee period is a maximum of 10 years from the official transaction date, regardless of loan repayment. The deadline for formalizing loans associated with these guarantees is December 31, 2025.
 
Thanks to these guarantees, approximately 50,000 young individuals and families with decent incomes but insufficient savings can easily access mortgages and purchase their first homes.
 
Understanding government initiatives is crucial for those interested in taking advantage of beneficial measures like the one discussed here.
Diseñado por CRM Inmovilla

Responsable: XIOB INMOBILIARIA, S.L.U., con NIF B-02890945.

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Responsable: XIOB INMOBILIARIA, S.L.U., con NIF B-02890945.

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Responsable: XIOB INMOBILIARIA, S.L.U., con NIF B-02890945.

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Destinatarios: Your data won’t be transferred to anyone, if not for legal obligation.

Derechos: You may use your right to access, modify, suppress, oppose, transfer or withdraw your consent on your personal data through the email lopd@xiobgrup.com

Responsable: XIOB INMOBILIARIA, S.L.U., con NIF B-02890945.

Finalidad: To handle information requests through the website, aiming to offer real estate professional services and to give information about what’s requested.

Legitimación: The legitimacy is based on the consent you gave us when clicking the button “I accept the data protection policy”.

Destinatarios: Your data won’t be transferred to anyone, if not for legal obligation.

Derechos: You may use your right to access, modify, suppress, oppose, transfer or withdraw your consent on your personal data through the email lopd@xiobgrup.com

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