It is the dream of so many: their own four walls. Yes, it’s an expensive thing – no question about it. But you can also get help from the state. There are quasi real cash gifts, such as bonuses and grants. There are also promotional loans.
News, tips & advice from the financial world. Here is our overview!
Gifts and support – that’s always nice. If it’s about the financial support of the home, then that’s all the better. Our financial expert Maximilian Blusch ensures the right perspective and starts with three gifts from the state:
„First: The housing construction premium or WoP for short – you get it depending on certain income limits in connection with a building society account. You get ten percent of the annual payments, a maximum of 70 euros per year.
Secondly: The employee savings allowance that is received by those who save capital-forming benefits or VL in one of the investment opportunities offered. These are, for example, the building society account or the securities savings plan. Depending on the type of savings chosen, the employee savings allowance can amount to up to 80 euros per year for single people, for example. Certain income limits also apply here. For married couples and life partners, double the amount applies.
Third: Residential Riester – the so-called ‘triple funding’ for home ownership also includes the Riester funding, which is independent of income limits. With the “Wohnriestern”, for example, a building society account is used to collect your savings contributions. You will receive Riester allowances from the state on the savings and later on the repayment of the building society loan. For example, if you have a family with two children, you will receive allowances of up to 950 euros per year. In addition, Riester can offer tax advantages. “
So much for bonuses and grants. KfW Bank also gives you low-interest loans for building or renovating and purchasing real estate. Loans are also available if you want to make your home energy-efficient or low-barrier. If you don’t need a loan, there are also direct grants. The NRW-Bank offers promotional loans for construction or purchase or the energetic renovation of owner-occupied living space. The NRW Bank specifically supports households with at least one child or one person with severe disabilities, with certain income limits. For KFW and NRW Bank, the following applies: Loans are applied for directly from the experts at your institute.
So that you don’t miss any of the grants and loans in the “funding jungle”, it is best to speak directly to the financing experts at your savings bank or bank, who will provide you with free and competent information on all relevant grant and loan programs.
We have more information for you:
Here is the Funding check.
Here for the Riester calculator.
KfW also offers a Grant portal.
And the NRW-Bank provides information on Home Promotion
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