The clock is ticking for beneficiaries of the Home My II housing support program. Those with already approved mortgages have until Monday, August 31, 2026, to sign their loan agreements with participating banks. This deadline applies exclusively to finalizing pending contracts — no new applications have been accepted since May 31, 2026.
A Limited Window for Finalization
The August 31 cutoff was extended specifically for applicants whose mortgage approvals were granted but not yet formalized by June 2. These cases remain eligible for funding drawn from national resources managed by the Hellenic Development Bank (HDB), ensuring continuity for purchases already underway — even as the broader Recovery and Resilience Facility timeline tightens.
On Wednesday, August 26, Minister of Social Cohesion and Family Domna Michailidou confirmed that total program approvals have reached approximately 15,000. Importantly, this figure reflects all approvals issued to date — not the number of outstanding signatures due by August 31.
What Must Be Completed Before Signing?
A clear distinction exists between pre-approval and enrollment in the program. Pre-approval is a preliminary bank assessment of borrowing capacity; enrollment requires identification of a specific, eligible property — one that has been assigned an electronic property ID. A bank’s pre-approval alone does not guarantee entry into the final stage.
Prior to signing the loan agreement, applicants must complete both the legal and technical due diligence on the property, and the final purchase contract must be signed. Loan disbursement — a separate step governed by each bank’s internal procedures — is not covered by the August 31 deadline. That date applies solely to the signing of the loan contract itself.
Individual file deadlines also apply. Under the general rule, an enrollment approval remains valid for 150 days. If the purchase contract is signed but the loan agreement remains unsigned, validity may be extended by 30 additional days — provided the bank notifies the Hellenic Development Bank before the original approval expires. However, this extension does not push the final signature deadline beyond August 31.
Failure to meet the deadline means the enrollment lapses and the approved funding is automatically released — no longer available to the applicant.
Financial Terms and Requirements
The program offers significant financial relief: 50% of the loan amount carries zero interest, while the remaining half accrues interest at the rate set by the cooperating bank. Total financing can reach up to €190,000, capped at 90% of the property’s value as stated in the purchase contract. Repayment terms range from 3 to 30 years.
Crucially, the 90% cap does not imply a flat 10% buyer contribution across all cases. For example, on a €250,000 property — even if the maximum €190,000 loan is granted — the buyer must still cover at least €60,000 out of pocket just for the purchase price.