CaixaBank has released excellent news for young people and families under the age of 35 who dream of buying their first home.
This initiative is in line with the bank’s efforts to facilitate access to housing and provide grants and special mortgage conditions. This is everything you need to know about these scholarships, the requirements that must be met, and how you can benefit from this unique opportunity.
Help from CaixaBank to buy your first home
CaixaBank has signed an agreement with the Institute of Official Credit (ICO) to offer guarantees to young people and families who want to buy their first home. This measure is designed to help those who have financial solvency, but have not been able to save enough to cover a mortgage entrance.
CaixaBank assistance covers up to 20% of the loan amount, and in some cases it can be up to 25% if the home has an energy rating of D or higher. This means that if you buy a home that meets certain energy efficiency standards, you will be able to get more financial support.
This initiative targets young people under the age of 35 and families with dependent minors. Applicants’ gross annual income must not exceed €37,800, which is 4.5 times the minimumGeneral index of income with multiple effects (IPREM).
In addition, if you have dependent minors, the income limit can be increased by approximately €2,520 per minor. For single-parent families, the limit is increased by an additional 70%.
Requirements for obtaining aid
To be able to access these scholarships, applicants must meet the following requirements:
- You must be under 35 years old.
- Not to exceed a total of €37,800 per year, with possible increases if there are minor dependents.
- The house must be intended for habitual and permanent residence.
- Proof of sufficient financial ability to obtain a loan.
To apply for these grants, those interested must go to a CaixaBank office and submit documents proving their financial and personal situation. This includes proof of income, marital status, and the presence of minor dependents, if applicable.
The deadline for formalizing loans covered by this guarantee line will end on December 31, 2025, with the possibility of being extended until 2027 if necessary.
Additional benefits for CaixaBank grants
These grants not only make it easier to buy a home, but also promote energy efficiency, as they provide more benefits to homes with a good energy rating. This is not only good for the environment, but can also result in long-term energy cost savings for homeowners.
By covering a significant portion of the loan inputs, CaixaBank reduces one of the main barriers that young people and families face when trying to buy their first home. This allows them to obtain mortgages under more favorable conditions and with less financial stress.
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