The first home regional loan provides for tax breaks that can be deducted from interest expense deriving from loan contracts; to access the facilities it is necessary to have the minimum requisites required for the acceptance of the regional mortgage:
Obviously the term “first home” means the home where the tax payer usually lives, or the main home. Listed below are the requirements for regional mortgages:
- the dwelling purchased must not be luxury (it must not exceed 160 net sqm, the ceiling height can reach a maximum of 3.30 m, it cannot be provided with a swimming pool or tennis court or other similar structure, etc.) ;
- the house must be in the municipality of residence or next residence; neither of the spouses, in the case of a couple, or the individual must possess another home.
In the event that the purchaser of the first home is a young couple, regional or municipal contributions may vary depending on the region itself or the municipality.
The Municipality and the Region are the only two entities that can activate certain benefits such as obtaining extremely advantageous rates or receive one-off contributions with a lost fund.
The regional mortgage is intended as a loan that includes subsidies at the local level.
Funds can be disbursed either by the ordinary or special statute regions, each with its own regulation containing the rules and exceptions provided for; usually the regional mortgage is granted to particular categories of citizens and for particular purposes: construction and purchase of a first home by lower income families.
Logically, those interested in a regional mortgage must carefully consider the regulation to which they must refer; above all it is necessary to pay attention to some aspects of the mortgage concerning the requirements of the possible tax payer, because they are those for which the rules change from region to region and, in the same region, over time.
Usually the institutes regions promote calls for applications to facilitate the purchase of the first home. Anyone who has specific variable requirements for each region can register. We summarize below some requirements for obtaining a soft loan:
Requirements for obtaining a concession for a regional mortgage
The assignment of contributions is different between the region and various tenders. Generally it can be said that you can get grants for purchases up to 40,000 euros with a lost one-time fund, as well as the total reduction of interest on the mortgage.
The income of the family unit must not exceed the threshold mentioned in the regional announcement.
Usually the citizenship of the participant in the announcement must be Italian, sometimes even residence in the region is requested; many regions also grant access to contributions to non-EU citizens, in which case this specification must be mentioned on the subsidized mortgage call for non-EU citizens.
Other benefits for the home mortgage
Taxpayers must not have previously used other forms of benefits for the same cause.
The applicant cannot be in possession of other suitable accommodation or of another First House and must be located in the region that issues the notice. The types of houses eligible for contribution vary from region to region according to the proposed notice.
They must reside in the facility subject to the facilitation for the expiry date of the announcement and the regions also establish minimum durations.
In addition, many regions limit contributions to Young Couples only:
“young couple” means that formed by two persons of different sexes married (some regions only accept applications from married couples and not copies made in fact) not earlier than the date stated on the specific Call (usually up to a year before exit of the Call for Proposals) or who intend to marry by the deadline of the public notice (usually up to a year before the announcement is published); in any case, it must be taken into account that each region establishes its own rules.
The young couples must have an age that can be different depending on the region, indicatively between 35 years and 45 years from the publication of the announcement; the contributions and benefits of the region for the first home are obtained by presenting the various documents that certify the possession of the necessary requirements and vary from zero interest to contributions up to 40,000 euros according to the regions and requirements possessed.
Every year all the Regions of Italy, with different deadlines, issue calls for applications for subsidized mortgages, to which they can access all or exclusive for young couples (about to marry / live together or recently married).
The prerequisites for obtaining the facilitation change from the policies of the individual regions but the calls are all retroactive.