New funding for family home ownership

No, the interest rate is 0.5% + 0.5% administrative fee with a 30-year fixed interest period and possible repayment subsidies. The offer is not that bad.

Thanks, I was looking at some other funding product. Does the funding have restrictions on the living space?

No, the interest rates are 0.5% + 0.5% administrative fee for a 30-year fixed interest period with possible repayment bonuses. The offer is not that bad.

What is the calculation basis for the subsidy? Last tax assessment?

Well, the difference for a child is almost 15,000 EUR per year, I think that's exactly the exciting part where it is theoretically possible for some again (that's almost 500 euros net more per month)

You can't quantify the difference quite so generally. The basis is your gross income. From that, several flat rates are deducted, such as your advertising costs... a rough guideline is the eligibility checker on the NRW.Bank site

Thanks, I was looking at some other funding product. Does the funding have restrictions on living area?

Yes, but at least our district didn't give me any exact figures. Of course, it also depends on the number of children.

What is the calculation basis of the funding? Last tax assessment?

Gross income for eligibility. Net income for determining the affordability of the burden. Usually, the last 12 months are considered. However, if there are changes in income in the next 12 months, these must also be specified.

On what legal basis should there be restrictions regarding the living area? Nothing about this can be found in the [Merkblatt]. Presumably, the caseworkers were just bluffing. Now one has to look into the future as well. This is getting more and more amusing.

I don't know and am only passing on what I've been told. My financial advisor had mentioned that as well.

In our district, there are two ladies who process the applications. Allegedly, the distribution of the applications among them is no longer based on number, but on weight...

And the best part is yet to come: To avoid losing eligibility for funding, you are not allowed to start building after submitting the application until it has been checked whether a valid application is available. It took over 8 weeks for us to receive the first feedback, and we still don't know if we will get the funding. If the conditions weren't so extremely good, I would have given up on this thrill long ago. Just putting together all the necessary documents cost me several days at the desk...

And the best is yet to come: In order not to lose the eligibility for funding, you are not allowed to start building after submitting the application until it has been checked whether a verifiable application is available.

But you are talking about the NRW loan now and not about KfW 297/298/300 - right?