Whoever submitted application gets subsidies - All pending home loan applications to be processed shortly

The National Mortgage Insurance Corporation (NMIC) said in a release that it had stopped receiving new applications for subsidized home loans, adding that all pending loan applications would be processed shortly.

- Given that the interest of citizens is huge, we hope that additional funds will be earmarked for that purpose in the revised budget - people at NMIC told Beta news agency.

The release reads that banks were notified Wednesday (27 June 2012) that all funds earmarked for that purpose in the 2012 budget had been spent and that NMIC was unable to receive new applications.

However, this will not affect applications for subsidized home loans that are already being processed by NMIC, which will be accepted provided that all necessary requirements are met and that there is enough money to pay subsidies.

A total of RSD 1.7 billion have been earmarked for subsidized home loans in this year's budget and used to grant over 1,100 such loans, NMIC said in the release.