If you are thinking of buying your first home and you are worried about not having the 20% of savings that banks normally ask for, the ICO guarantee in Andalusia may be the opportunity you have been waiting for.
This guarantee, promoted by the Official Credit Institute (ICO) and managed through financial institutions, allows the State to guarantee up to 20% of the price of your primary residence, facilitating access to a mortgage without the need for large initial savings.
From Irene Homes, we explain what it consists of, what the requirements are and how to apply for it correctly.
✅ What is the ICO guarantee for home purchases?
The ICO guarantee is a government measure to facilitate access to housing, especially for young people and middle-income families who do not have the necessary savings to cover the down payment on a house.
🟡 The State guarantees up to 20% of the mortgage loan.
🟡 Available only for the purchase of primary residence.
🟡 In force until December 2025 (or until funds are exhausted).
📍 Who can apply for the ICO guarantee in Andalusia?
To access this assistance, you must meet the following requirements:
- 👤 Be under 35 years of age (or be part of a family with dependent minors).
- 🏠 Purchase of a habitual residence (second or vacation home is not allowed).
- Individual income less than €37,800 gross per year.
- If you are two buyers, the limit is multiplied by two: €75,600.
- ❌ You cannot own another dwelling (except in the case of inheritance or other specific cases).
- 📍 The property must be in Spain, and in Andalusia there are active agreements with banks that are already processing these guaranteed mortgages.
🏦 How do I apply for the ICO guarantee?
The process is done directly through the bank. There is no need to go to the ICO or to go through complex procedures.
- Go to an affiliated financial institution (Banco Santander, Caixabank, Unicaja, BBVA, etc.).
- Apply for a mortgage with ICO guarantee.
- The bank will review your financial profile and present the operation with the corresponding guarantee.
💡 At Irene Homes we collaborate with entities that offer this product and we help you manage the purchase step by step, without complications.
📌 What are the advantages?
✔️ You do not need to have a 20% down payment saved.
✔️ You can finance up to 100% of the price of the property (excluding expenses).
✔️ Opens the door to home ownership without waiting years to save.
✔️ It is compatible with other public subsidies for young people and first-time homebuyers.
💡 Tips for successfully applying for ICO guarantees
- Prepare all your updated financial documentation (income, contracts, income tax, etc.).
- Choose a home that is well appraised by the bank to avoid appraisal discrepancies.
- Seek professional advice to choose the right bank and negotiate conditions.
- Please note that the purchase and sale expenses are not covered by the guarantee (notary, registration, taxes…).
At Irene Homes we help you to buy your first home.
If you meet the requirements of the ICO guarantee in Andalusia, at Irene Homes we help you find a home that fits your profile, we put you in contact with banks that already offer this mortgage and we advise you throughout the process.
Do you want to know if you are eligible for the ICO guarantee?
Contact us today and start building your future with security.
Irene Homes
“More than 30 years of experience serving your dreams.”
