Higher loans, more eligible people – families should know these new funding details
A b Monday, significantly more families than before can benefit from KfW’s home ownership support. As of October 16th, the income limits for the state-owned development bank’s “Home Ownership for Families” program will increase by 30,000 euros: Previously, a family’s taxable annual income was not allowed to exceed 60,000 euros, but now it is 90.000 Euro for a family with one child, plus 10,000 euros for each additional child.
This increases the circle of those who are eligible for funding. Also the Loan maximums are raised to up to 35,000 euros .
The Program number 300 has been running since the beginning of June, but has hardly been taken up due to the income requirements on the one hand and the strict efficiency regulations on the other. By the end of August, only a little more than 200 applications had been approved, according to a request from the CDU parliamentary group at the time.
The KfW loans are certainly attractive. With a Effective interest rate currently 0.01 percent They are well below the current average interest rates for a standard loan of almost five percent.
Improvements were made at the housing construction summit with Federal Construction Minister Klara Geywitz (SPD) at the beginning of October. Basically, however, it remains the case that only building or buying one new house or a new apartment is supported, and only for families with children who do not yet own their own home – and who also want to use their future home ownership themselves.
In addition, only particularly efficient new buildings are funded: in the simpler funding level “climate-friendly residential building”. Efficiency house level 40 requirement , the house must also be below a certain CO₂ emission value, which also takes the building materials used into account. Oil, gas or biomass are not permitted for heating.
In this first funding level Under the new conditions you will now receive up to 170,000 euros Credit with up to two children. With three or four children it is 200,000 euros, with five children or more 220,000 euros, as the KfW reports.
In the second funding level If the loan amounts are higher, in addition to the EH-40 standard, there must also be a “Sustainable Building Quality Seal”, either in a “Plus” or a “Premium” version. Here the requirements for the overall emission values are even higher, and particularly climate-friendly or regional building materials must have been used.
That’s what these are for Loan amounts from October 16th once again higher : With one or two children, KfW awards up to 220,000 euros, with three or four children 250,000 euros, and with five children or more 270,000 euros. If you don’t build yourself, but buy a new building, you have to pay attention to certain deadlines: The first purchase must take place within twelve months of the building acceptance.
The entire expenditure for the building, the services of specialist planning and construction supervision, including services for life cycle analysis or sustainability certification are eligible. If you make your own contributions, the expenses for the materials are eligible for funding.
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