My First Home programme with the Community of Madrid

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What does the agreement involve?

If you are from the Community of Madrid, you can take advantage of the agreement signed with the Government of this Autonomous Community, which will help you buy your first home.

AGREEMENT WITH THE COMMUNITY OF MADRID TO GET A MORTGAGE OF UP TO 95% FOR YOUR HOME¹

Intended for people under 40 years of age, and large and single-parent families, as well as any person due to the birth or adoption of a child in the calendar year of the call and during the term of the agreement formalised between the Bank and the Community of Madrid, in these cases without age limit, who do not have the necessary prior savings for the acquisition of their first home. The mortgage will be greater than 80% and up to 95% of the value of the property (the sale price or the valuation price, whichever is lowest. You must always contribute, at least through your own funds, the difference between the purchase price and the amount financed).

ELIGIBILITY REQUIREMENTS FOR THE MY FIRST HOME PROGRAMME

You will be able to access the program if you meet any of the following requirements:

You are of legal age and not over 40 years old.
You are a large family or single-parent, with no age limit.
A child is born or adopted in the calendar year of the call and during the term of the agreement formalized between the Bank and the Community of Madrid, with no age limit.

And you also meet all of the following:

You have resided in the Community of Madrid for at least 2 years, continuously and uninterruptedly.
It is your first home purchase.
The property is located in the Community of Madrid.
Will be your main and permanent home for at least two years from the purchase date.
Is worth €390,000 or less, excluding purchase fees and taxes.

Find out everything you need to know about the My First Home Scheme.

We know buying your first home is not an easy decision. For this reason and so that you have all the information you need just one click away, you can calculate your mortgage's monthly repayment and associated costs in our simulator.

1. Financing subject to approval by Banco Santander. For housing free of encumbrances and liens Home mortgage loan. Lender: Banco Santander, S.A.

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