Mortgage Loan Calculator "Start-Up"

There is no maximum loan amount. There is no limit on investment costs. There is no requirement for a minimum own contribution. Having own contribution is not required. The start is planned for the second half of 2024, more likely in autumn than in the third quarter due to legislative reasons. The program`s duration is 4 years. Interest subsidies apply only up to a certain loan amount, depending on the number of people in the household and the investment location. The amount of the subsidy also depends on the total gross income in the household. The preferential interest rate portion of the loan is dependent on the number of people in the household.

1. Single individuals without children (under 35 years old).
2. Single individuals, married couples, and informal partnerships with at least one child (no age limit for the child).
3. Married couples and informal partnerships without children (no specified age limit).
4. Individuals who have not owned and do not own their own apartment or single-family home (except for a 50% share in the ownership right of an apartment or cooperative ownership right to a premises, acquired by inheritance or donation).
5. Individuals who own one apartment and have at least three children in the household.
6. Individuals who want to cover the costs of participation in the Social Housing Initiative (SIM) or in a social construction society (TBS), or want to cover the contribution related to cooperative tenancy rights (consumer credit, currently no possibility of using preferential financing for such expenses).
7. A maximum of two individuals, regardless of gender and legal-family relationship, can collectively own up to 50% of the ownership right to an apartment or cooperative ownership right to one premises, acquired by inheritance or donation (e.g., 25% for both parties).
8. These two individuals must acquire the property on the basis of co-ownership (joint or fractional) in a 50% proportion for each (introduction of a mechanism to eliminate excessive inclusion of persons in the credit agreement and excessive creditworthiness, leading to more favorable conditions for receiving subsidies). This is particularly important in the case of planned construction of a house on a plot owned by only one of the two future credit applicants.

1. Purchase of the first apartment with the option of renovation or finishing.
2. Purchase of the first house, including renovation or finishing.
3. Construction of a house.
4. Continuation of house construction (the 2% Safe Credit Program limited availability due to own contribution. Without this limitation, the form of own contribution should not matter).
5. Purchase (or construction) of a second residential property by individuals who already own a maximum of one apartment, and their household consists of at least three children. There is no certainty whether owning a house also allows for the acquisition of another property.
6. Covering the costs of participation in the Social Housing Initiative (SIM) or in a social construction society (TBS), or the contribution made in connection with cooperative tenancy rights.

1. The subsidy period is 10 years.
2. The interest rate is fixed during the subsidy period.
3. After the subsidy period, the interest rate becomes variable.
4. During the subsidy period, installments decrease.
5. After the subsidy period, installments are fixed.

The more people in the household, the lower the interest rate:

1. 1.5% for one-person and two-person households.
2. 1% for a three-person household.
3. 0.5% for a four-person household.
4. 0% for a five-person or larger household and for consumer loans to cover participation costs in SIM/TBS or housing contributions in a housing cooperative.

Due to the need to exclude individuals who could obtain a loan on market terms, a maximum gross income criterion was established for the household of the loan recipients:

1. PLN 10,000 gross monthly for a one-person household.
2. PLN 18,000 gross monthly for a two-person household.
3. PLN 23,000 gross monthly for a three-person household.
4. PLN 28,000 gross monthly for a four-person household.
5. PLN 33,000 gross monthly for a five-person or larger household.

Exceeding these values will not automatically eliminate the possibility of receiving subsidies. However, subsidies will gradually decrease as the set thresholds are exceeded, until the subsidy reaches zero.

For each exceeding of the limit by PLN 1, the monthly subsidy will be reduced by:

1. 50 cents for a one-person household.
2. 25 cents for other households.

1. Single-person household - PLN 200,000
2. Two-person household - PLN 400,000
3. Three-person household - PLN 450,000
4. Four-person household - PLN 500,000
5. Five-person household - PLN 600,000
6. For each additional person above five - additional PLN 100,000

In the event of a loan being granted to two individuals and one of them withdrawing from the loan agreement during the subsidy period, the subsidy amount will be recalculated and reduced according to the new number of people in the household. This may result in an increase in the loan interest rate.

If the property is acquired in a city with county rights that is the capital of a voivodeship, where the value of reconstruction per 1m2 of residential premises announced by the voivode is at least:

1. 15% higher than the value announced for the whole country, the above-mentioned basic subsidy amounts will be increased by at least 10%.

In cities where the value of reconstruction per 1m2 of residential premises is at least:

1. 30% higher than the value announced for the whole country, the basic subsidy amounts will be 20% higher.

According to the guidelines of the Financial Supervision Commission, banks may take into account preferential government loans when calculating creditworthiness, taking into account installments net of subsidies. However, whether banks will exercise this right remains uncertain for now and we will have to wait for clarification.

The value of creditworthiness may be heavily dependent on the final structure of the loan. If the loan is fully preferentially interest-bearing, creditworthiness may be even better than in the case of the 2% Safe Credit. However, if the proportion of market-rate interest-bearing portion is significant, creditworthiness may be similar to standard loans or even worse in some cases. This results from differences in the structure of the Start-Up Loan compared to standard loans granted in equal installments.

These assumptions do not include promoting family enlargement. The Start-Up Loan favors large families, but does not support increasing the number of family members in any way.

There is no information provided on the need to sell the previous property by households with at least three children after acquiring another one. This idea was raised during the program consultations, but it is unknown whether it will be included.

It is only known that PLN 500 million is planned for the year 2024. However, it should be taken into account that the program may be launched at the end of the year, which may affect this amount. Budget plans for subsequent years have not been presented so far.

If the entire loan amount remains within the limit, the entire loan will be subject to the preferential rate. If the loan amount does not cover the entire cost of the housing project, the missing amount can be supplemented:

1. from own contribution,
2. through a standard housing loan.

In the second case, we receive one loan for the full amount, interest-bearing based on a gradually weighted average: preferentially in the subsidized portion and market rate in the remaining portion.