IFB Modernization Loan
Long-term loan up to €25,000 for the modernization and repair of owner-occupied or rented residential property in Hamburg. Applications can be submitted at any time through cooperating credit institutions.
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Grant criteria
Funding objective
Support for the general modernization and renovation of residential properties in Hamburg.
Eligible expenses
- General modernization and repair measures (e.g. sanitary installation, water supply, flooring, attic conversion, balcony renovation, insulation, heating)
Eligible to apply
- Individuals
Funding requirements
- Natural persons with investment measures in owner-occupied or rented residential property in Hamburg
Description
The IFB Modernization Loan offers long-term financing options for individuals wishing to modernize or renovate residential properties in Hamburg. With a loan volume of up to €25,000 per residential unit and a term ranging from 60 to 360 months, 100% of the eligible costs can be covered. Funding is provided for general modernization and renovation measures such as sanitary installations, water supply systems, flooring, attic conversions, balcony refurbishment, insulation, or heating. Interest rate security is available with a choice of a five- or ten-year fixed period, with the final interest rate based on capital market developments. Combining this with other funding sources is possible, enabling tailored financing for individual renovation projects.
Applications can be submitted at any time through a cooperating credit institution in Hamburg that has entered into an agreement with IFB HAMBURG. Planning and consulting services do not count as the project start, ensuring timely submission before construction work begins. In addition to individual applications, the IFB-WEGfinanz program can alternatively be used for condominium owners' associations. Through straightforward processing via the house bank, documents are reviewed and the application is submitted directly to IFB HAMBURG. This model enables efficient processing and prompt provision of funds for sustainable modernization projects in the Hanseatic city.
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