Is it worth taking advantage of the 2% program?

The answer to this question is not obvious. On the one hand, it looks very encouraging. With the example maximum amount for a single, i.e. 500k, and 30 years of credit, the installment drops from 3540zl to 2200zl. The subsidy lasts as long as 10 years, i.e. 1/3 of the full term of the loan. The installment is fixed-with no risk of change. You can find the difference between fixed and variable interest rates here. It sounds great.

The website of the Ministry of Development and Technology has a number of different questions and answers regarding the Act. It’s worth a look

https://www.gov.pl/web/rozwoj-technologia/pierwsze-mieszkanie

What are the buts? The subsidy can be lost due to:

  • presenting false documents in order to obtain the aforementioned credit
  • declaring untruths, e.g. that one does not currently own any property
  • rental of the apartment – the borrower is obliged to move into the credited real estate no later than 24months from the date of completion of the construction of the single-family house, acquisition of ownership of the dwelling or single-family house
  • stop living in the purchased property, without renting it out
  • delay in repayment even 1 zloty, or delay of 1 day – then the subsidy disappears from the future installment and in the meantime you have to apply for another loan subsidy
  • selling the apartment before the end of 10 years
  • refinancing a loan with a 2% subsidy

It is worthwhile first:

  • check your assets, what is your own contribution -minimum amounts you need to have at your disposal I described in the previous article
  • establish what is the maximum amount of financing you can get
  • calculate creditworthiness and learn the parameters of the monthly installment with and without financing
  • start looking for real estate

As for the rest of the details, I invite you to contact me directly or comment under the post

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