Who is eligible for a low-interest rate loan of 2%?

Eligible for a favorable loan with a low-interest rate of 2% is a person who is under 45 years old and does not currently or previously own any rights to a flat, house, or cooperative ownership of a premises or house. In the case of a married couple or parents with a common child, at least one of the partners must meet the age requirement.

How much can I borrow?

The maximum amount one person can obtain through the loan is 500,000 PLN. In the case of a married couple or parents with a common child, this amount increases to 600,000 PLN. This loan can be used for purchasing both primary and secondary market apartments. There is no price limitation per 1 m2 of the apartment in the program.

Is my creditworthiness sufficient?

The assessment of creditworthiness is carried out by the loan institution. If you meet the legal criteria and they are positively verified, the decision to grant the loan is made by the bank.

What is the subsidy?

The subsidy for mortgage loan installments is the difference between the established fixed rate based on the average interest rate of fixed-rate loans in lending institutions and the loan interest rate at a level of 2%. This subsidy will be granted for a period of 10 years.

What criteria must be met to obtain a low-interest rate loan of 2%?

The interested party should meet the following conditions:

• have a creditworthiness corresponding to the loan amount they want to obtain;
• not be the owner of an apartment or single-family house before the loan is granted;
• not have cooperative rights to an apartment or single-family house;
• not be older than 45 years on the day of loan granting.

The program is intended for individuals who plan to purchase an apartment or single-family house or build a house to meet their own housing needs. In the case of renting such an apartment while using subsidies for low-interest rate loan installments, the subsidies expire on the last day of the month in which this event occurs, and the subsidy amounts received after that day are subject to return to the National Housing Fund. However, the bill does not provide for an obligation to return already paid subsidies after the period they are due (after 10 years), and the decision to rent an apartment remains at the discretion of the borrower.

What is the interest rate on the loan?

During the subsidy period (the first 10 years of loan repayment), the loan interest rate for the borrower will be 2%, increased by the margin and commission (if charged by the bank).

Are there any limits on the number of loans granted per year?

Depending on the available funds for subsidies, the government will be able to finance between 30,000 and 40,000 loans annually. Planned expenses will start appearing from 2024 and will increase until 2027. It is expected that annual expenditures will amount to 800 million PLN in 2024 and 1.5 billion PLN in 2027. After this period, they will gradually decrease. It is estimated that this will meet the needs of the majority of individuals who meet the criteria for receiving the subsidy and have creditworthiness.