IFB Supplementary Loan
Low-interest subordinated loan up to €100,000 for the construction or purchase of owner-occupied residential property in Hamburg with a 10- or 15-year fixed interest rate. Applications can be submitted at any time through cooperating credit institutions.
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Grant criteria
Funding objective
Promotion of the construction or acquisition of owner-occupied residential property in Hamburg through subordinated supplementary loans on more favorable terms.
Eligible expenses
- Land and purchase price costs
- Ancillary construction costs
- Costs for outdoor facilities
- Acquisition incidental costs
- Modernization and repair costs (usually up to 50%)
Eligible to apply
- Individuals
Funding requirements
- Natural persons intending to acquire owner-occupied residential property in Hamburg
- Application prior to the conclusion of the notarized purchase contract
- Submission via a credit institution with a cooperation agreement with IFB Hamburg
Documents required for application
- Self-disclosure of the financing institution
- Proof of identity
- Salary statements/tax assessment
- Proof of self-employment
- Financing offers
- Proof of equity
- Draft purchase contract or exposé
- Declaration of division
- Draft contract for work and construction description
- Cost breakdown
- Living space calculation
- Floor plans/section/elevation
- Online confirmation from the KfW expert (for KfW loans)
Description
IFB Supplementary Loan provides a low-interest subordinated loan of up to €100,000 and is aimed at individuals who wish to build or purchase owner-occupied residential property in Hamburg. With an optional fixed interest period of 10 or 15 years, it complements the primary bank loan and thus reduces the overall financing costs. Applications can be submitted at any time through a financial institution with an existing cooperation agreement with IFB Hamburg, whereby planning and consulting services are not considered the project start. Submission prior to the notarized purchase contract is a prerequisite; a later application excludes funding. The interest rate is based on current capital market developments and is published in the terms overview.
Covered are land and purchase price costs, ancillary construction costs, as well as expenses for outdoor facilities and acquisition-related costs. Modernization and repair measures are funded up to 50%. The total term ranges from 120 to 180 months. Required documents for submission include, among others, a self-disclosure, proof of identity, salary statements or tax assessments, proof of equity, a draft purchase contract or exposé, and for new construction, a draft contract for work and services, construction description, cost breakdown, living space calculation, and floor plans. By combining with other funding instruments, the total sum of all loans and grants is limited to a maximum of €150,000. This long-term funding sustainably supports the acquisition and construction of owner-occupied homes in Hamburg.
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