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Loan to build a house
Make your dreams of your own home come true today!
This type of loan is intended for people who want to build their own property.
A home construction loan is different from a regular real estate loan. The main features include the so-called hello construction. It can last up to 3 years. This is the time when the investor - that is you, receives the money and carries out the next stages of construction.
PURPOSE OF THE LOAN
the cost of developing the plot, the cost of construction works and materials,
costs of investment preparation (costs of geological surveys, costs of developing technical documentation, costs of preparing the site for construction) and construction insurance fees,
real estate broker cost,
costs related to the transaction, including, among others: tax, notary and court costs (actually incurred or in accordance with the client's declaration),
cost of finishing works,
the first fee for perpetual usufruct of land,
the cost of the appraisal made by a property appraiser.
real estate development
renovation of the property
In the case of granting a loan for construction on a construction plot already owned by the client, the cost of the investment is the market value of the plot on which the investment is carried out, as entered by the client in the application. The final value of the plot is determined based on the estimate of a property appraiser. The value of the plot may also be the customer's own contribution.
The bank credits the investment if the funds from the loan or the loan together with own share enable the completion of the investment or bringing it to a condition that allows for the settlement or use of the property. Completion of the investment or bringing it to a state allowing for the settlement or use of the property should take place not later than within 36 months from the date of concluding the loan agreement. As soon as the Bank has obtained appropriate explanations regarding the impossibility of completing the investment and there were no other contraindications to extend the above-mentioned period, it is allowed to extend it.
The Home Loan for Start program (commonly known as "Mieszkanie na start 2024") was designed to provide broader access to financing for residential property purchases, particularly for individuals and families who may have previously encountered difficulties obtaining a mortgage on market terms. The terms and conditions of this program are discussed in detail below:
1. Purchase of the First Apartment:
The main objective of the program is to enable beneficiaries to purchase their first apartment or house, which is intended to improve the housing situation of people who do not own their own property.
The exception is large families, for whom the program provides financing for the purchase of another property. This solution is intended to support families with increased housing needs, requiring more space due to the increased number of household members.
2. No Amount and Price Limits:
The program does not impose upper limits on the loan amount, which means that beneficiaries can apply for financing tailored to the value of the property they are interested in, without fear of exceeding the maximum allowable loan amount.
Moreover, there are no price limits for apartments, which gives greater freedom in choosing properties on various housing markets, both in large cities and smaller towns.
3. Loan Installment Subsidies:
A key element of the program is subsidies for loan installments, which are intended to significantly reduce interest rates, even to 0-1.5%. This is significant support that can significantly reduce beneficiaries' monthly financial burden.
The largest subsidies are provided for large families, reflecting the program's commitment to providing specific support to these households. These subsidies are intended to reduce the cost of borrowing to a minimum, in some cases even to 0%, making property purchases much more affordable for families with multiple children.
These lending conditions in the First Apartment - Start-up Housing Loan program are intended to create a more inclusive and accessible support system that will enable a wider group of beneficiaries to realize their dreams of their own apartment, while minimizing the financial burden associated with servicing a mortgage loan.