First home mortgages for the under 36s, the manoeuvre extends aid for three years: here's how it works

The Budget Law 2025 has extended for the first time to three years (until 2027) the allocation for the First Home Fund, which offers a public guarantee to families and young people on mortgages for the purchase of their first home. The budget envisaged by the manoeuvre is 130 million for next year and 270 million for each of the following two years, for a total of 670 million. This is a breath of fresh air for a fund that in the first nine months of the year, in the face of the progressive fall in interest rates, saw the number of admitted applications grow by more than 15% compared to the same period in 2023.

"We are very satisfied with this result, with respect to which I was not so optimistic," comments the CEO of Consap (the in-house company of the Ministry of Economy and Finance that manages the resources), Vincenzo Sanasi d'Arpe, emphasising that the fund has been 'largely refinanced' and that 'for the first time it will have a duration of three years' and not six-monthly or annual as in the past, thus guaranteeing greater continuity to the facilities.

In total, since 2013, the year in which the fund was set up, as at 30 September, Consap has received over 582 thousand applications for access, of which 537 thousand have been admitted to the guarantee - for a total of over EUR 62 billion - and 441 thousand mortgages disbursed. In the first nine months of 2024, more than 61,000 applications were admitted to the guarantee, compared to approximately 53,000 in 2023 (+15.2%). Approximately 70% of first home loans disbursed, moreover, are guaranteed to under 36..

The First Home Fund is open to all citizens who, at the date of submitting the loan application for the purchase of their first home, do not own any other property for residential use (including abroad). The amount of the loan must not exceed €250,000. The Fund provides a 50% public guarantee. Priority in accessing the Fund's benefits is granted to the following categories: young couples who have been married or cohabiting for at least two years; single-parent families with minor children cohabiting; young people under the age of 36.

The Support Decree bis has also provided for the possibility of requesting an increase in the guarantee to 80% for all those who fall into the priority categories have an Isee not exceeding 40,000 euro per year and request a mortgage exceeding 80% of the purchase price of the property. From January 2024, concessions have also been introduced for large families, who have the possibility of accessing additional guarantees increasing up to 90% based on the number of children and Isee.