What is Safe 2 percent credit? Program conditions, repayment period, loan amount

The Safe Credit program is a government offer for those who, for various reasons, have not yet been able to finance the purchase of their own apartment. A fixed interest rate of 2 percent for the first 10 years of the loan is an opportunity for young married couples and large families who have not yet been able to afford to buy their own home. The program also provides for the possibility of purchasing an apartment without the required own contribution, which has often kept young people awake at night so far. people.

Safe loan 2 percent – ​​what is this program?

The 2 percent safe loan is the government’s response to the increasingly difficult realities on the housing market. High interest rates, rising prices on the real estate market, and the need to make an own contribution of 20 percent are the three most common problems that young people face when buying their own apartment. To make it easier for them, the government has created a program that allows you to purchase real estate without your own contribution and guarantees a loan with a fixed interest rate for the first 10 years of the loan. The condition for using the program is that you do not previously own any real estate or have the right to a cooperative premises.

Who is the 2 percent Safe Loan for?

To use the program, you must meet the following conditions:

• the borrower cannot be more than 45 years old

• cannot have ownership title or cooperative right to another property

• may own a plot of land if he or she applies for a loan to build a house

Rules of the Safe 2 percent loan program

The program has several rules:

• a loan can be obtained for both premises on the primary and secondary market

• The loan can be taken out for a period of 15-35 years

• To get a loan, you must have permanent employment and stable income and undergo the creditworthiness assessment process

• there is no price limit for 1 square meter of apartment

• the subsidy applies for the first 10 years of the loan

• the maximum loan amount that a single person can get is PLN 500,000. zloty.

• the maximum loan amount for a married couple or parents with a child is PLN 600,000. zloty.

Own contribution and the Safe Credit 2 percent program

Under the Safe 2 percent loan program, you can get a loan both with and without your own contribution. However, this must be distinguished.

1. The Safe Credit 2 percent program is a loan program that operates on the same principles as other mortgage loans. The only difference is the subsidies for the first 10 years of the loan. This means that when using the program, you must make an own contribution of 20 percent of the property value. The final amount depends on the bank, but it should not be higher than PLN 200,000.

2. In the program you can buy a flat or a house without a down payment. This option is called Safe Loan 2 percent and Apartment Without Own Contribution. People who take advantage of it will not be entitled to family repayments.

Safe loan 2 percent – ​​formalities

To use the loan, you must go through the lending process exactly the same as in the case of other mortgage loans. First of all, you need to choose a property and check what financing will be necessary. Then you need to obtain a certificate of income from work, provide the bank with an account statement confirming incoming transfers and a preliminary agreement for the purchase of real estate. Then you should submit an application for a loan agreement and wait for the bank’s decision.