Buying a home is the ultimate dream for many young people, and to achieve it, they need a mortgage.
However, not all young people qualify for a mortgage. Fortunately, there are specific aids and organizations that make it easier for those looking to take the plunge and buy their first home.
State mortgage aid for young people
In Spain, several government programs and specific grants are designed to help young people access homeownership. These grants are typically aimed at those under 35 and are intended to cover part of the costs of purchasing their first permanent home.
To adapt to a younger profile, financial institutions often:
- Extend repayment terms , offering options up to 40 years.
- Increase the financing percentage , exceeding 80% of the home's value and even reaching 90 or 95% in some cases.
- Reduce some costs associated with mortgages , such as
