Spain’s Valencian Institute of Finance (IVF) has approved the first six guarantees to support home purchases for young people in the Valencia Community. The news was shared by the regional president, Carlos Mazón, who underscored the government’s commitment to deliver practical, fast, and realistic measures that meet the needs of young residents and help them access housing. He noted that within just about a month since the program’s launch, several young people are already positioned to take the significant step of buying their first home and starting their life projects. (Cited: IVF progress update)
Specifically, the initial IVF guarantees amount to nearly 482,000 euros, facilitated through six mortgage loans arranged with Caixabank and Caixa Rural La Vall San Isidro Cooperativa. This funding enables the acquisition of six homes in the towns of Ibi, Pobla de Farnals, Senyera, Cocentaina, La Vall d’Uixó, and Valencia. (Cited: Guaranty agreements and participating lenders)
The president expressed gratitude to the collaborating financial institutions for their readiness to participate in the program and for the speed at which it was launched. He highlighted their ability to mobilize their sales networks to share information about the product with its final recipients, specifically the young residents of the Valencia Community facing the challenge of buying their first home. (Cited: Collaboration and rollout)
Novo partner entity
Additionally, Mazón announced that Caja Rural Central has joined the 14 financial institutions that signed the cooperation agreement with the IVF a month earlier, bringing the total number of participating entities to 15 for this line of financing. He reaffirmed that since taking office, the administration has pursued an inclusive and accessible housing policy with the aim of easing access, stimulating the housing market, creating opportunities, and helping many young people prosper in the Community. (Cited: Expanded network)
The IVF’s guarantees program helps young buyers up to 45 years old access credit for their first property. The plan allows the borrower to secure a loan covering up to 95% of the home’s price, reducing the burden of saving a 20% down payment. (Cited: Down payment relief and terms)
The homes can be new or resale, on open market or public protection schemes, and intended as the buyer’s primary residence. The purchase price, excluding purchase costs and taxes, must be equal to or below 277,000 euros. (Cited: Eligibility and price cap)