Murcia expands housing guarantees for young buyers

The Government of Murcia has increased its 'Línea Aval Joven' (Youth Guarantee Line) by six million euros, bringing the total accumulated since 2021 to 29.5 million euros. This measure is designed to assist young people in accessing the mortgage market by providing guarantees for the 20% down payment typically required by banks, potentially allowing for mortgages covering up to 100% of the purchase price.

To qualify, applicants must be no older than 40, have annual incomes not exceeding 6.5 times the IPRE, and be purchasing their first property with a maximum price of 220,000 euros. The additional funding is expected to benefit approximately 320 additional young people, joining the 1,253 who have already utilized the program. Applications are managed through Icref in coordination with CaixaBank, Cajamar, Caja Rural Central, and Caja Rural de Murcia. The current application period is open until December 31, though officials warn the new funds may be exhausted sooner.