Cancel promotion of owner-occupied housing and max interest rate

Hello,

is it possible to basically cancel the promised funding? It takes about 6 months for the application to be processed. What if, for example, the property has been sold to someone else by then, can it be canceled or do you have to accept that person?

At what intervals is the income checked and what would be the max interest rate?

The following text is completely to be translated and reads: ???

Which funding exactly do you mean? It sounds like social housing funding from the state of NRW, which is approved by the municipality of the building location, right?

At what stage are you there?

As long as you have not yet received approval from the municipality, that should be possible at any time. Whether one then has to pay the costs for the review, I do not know. The same goes for what happens after approval.

Depending on how long the approval takes, they want proof of income for the application and then possibly again shortly before the funding commitment. At least that was the case for us.

After that, income checks are usually conducted every 5 years. The maximum interest rate is stated somewhere on their information sheet. Even nicely divided into when the interest rate may/can be how high.

Hi, yes exactly, I mean this housing construction subsidy of the state of NRW. Then I will check the documents to see if there is anything about the max. interest rate. Thanks!

Do I understand correctly that the interest rate will be increased from 0.5% to 2% from the 6th to the 15th year, unless the family income is not that high? And that the interest rate can be between 2-4% from the 16th to the 20th year depending on income? And from the 21st year it is 4%, but a reduction is possible.