IFB Modernization Loan
Low-interest loan for the modernization of owner-occupied or rented residential properties in Hamburg up to €25,000; application through a cooperating credit institution.
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Grant criteria
Funding objective
Promotion of the energy-efficient and structural modernization as well as the renovation of residential properties in Hamburg through long-term loans.
Eligible expenses
- Costs of the building plot
- Construction costs including incidental construction costs
- Costs of the outdoor facilities
- Purchase price including incidental purchase costs as well as modernization, repair, and conversion costs
Eligible to apply
- Individuals
Funding requirements
- German citizens or holders of a permanent residence or settlement permit or permanent right of residence
- Application and approval are made through a cooperating credit institution
- Sufficient performance capability and reliability
- Own contribution at least equal to the incidental costs and 50% of the modernization costs
- Overall financing must be secured
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Documents required for application
- Application form through the cooperating credit institution
Description
The IFB Modernization Loan from the Hamburg Investment and Development Bank (IFB Hamburg) supports individuals in the energy-efficient and structural modernization as well as the repair of owner-occupied or rented residential properties in Hamburg. As a long-term, low-interest loan, a funding volume of up to €25,000 per residential unit is available, covering up to 100% of eligible expenses. Eligible costs include, among others, the building plot, construction and ancillary construction costs, outdoor facilities, as well as modernization, repair, and conversion costs. The term varies between 60 and 360 months, optionally with a grace period without repayment. Combining this loan with other funding programs is possible.
A prerequisite for approval is the application through a cooperating credit institution, which conducts the assessment of creditworthiness, reliability, and overall capital adequacy. A personal contribution amounting to the ancillary costs as well as 50% of the modernization costs is required as a minimum; the total financing must be secured and the loan must be collateralized in accordance with banking standards. Eligible applicants are German citizens or holders of a permanent residence or settlement permit. Since applications can be submitted continuously, the program offers a flexible financing solution for comprehensive renovation measures, thereby contributing to the value increase and energy efficiency of residential properties in Hamburg.
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