Housing subsidy

The state of Hesse promotes home ownership with two types of loan - arranged via the WI-Bank (Wirtschafts- und Infrastrukturbank Hessen): the Hessen-Baudarlehen for new construction projects and the Hessen-Darlehen for the purchase of existing properties.

This gives young families in particular the opportunity to acquire residential property - the housing subsidy advises and supports the purchase of an existing property or a new build and helps with applications for subsidized loans free of charge. The city would like to offer families long-term prospects for living in Offenbach.

The chances of obtaining such a loan are not bad. However, applicants must fulfill certain conditions:

• The application must be submitted before the notarized purchase contract for a property is signed or before construction begins.
• Income is the first decisive factor for eligibility. It must not exceed certain limits, at the same time the applicant must be solvent enough to shoulder the loan and
• proof of 15% equity must be provided. Based on the income statement, it can be checked directly and quickly whether there is an entitlement to a subsidized loan.

Seeking advice can clarify in advance to what extent there is a basic entitlement to a subsidy, so that you can look for a suitable property in a targeted manner. The advisors can also provide useful tips on buying a property.

Experience has shown that two to three consultation appointments are necessary before the actual application is submitted. It takes six to eight weeks after the application has been submitted before the grant is approved. Eligibility for the subsidy also depends on the size of the property. It must not be too lavish, but must be appropriate.

If all conditions are met, a family can receive a maximum loan of 115,000 euros for a new build. The offer could also be of interest to families who would like to settle in the "An den Eichen" building area. A loan of up to 100,000 euros is also possible for the purchase of an existing property, provided it is an appropriate property.