Payout installments ISB Bank Rhineland-Palatinate

Good morning and Happy New Year!

We are right in the middle of our home ownership project and I have the following question.
Has anyone here applied for the subsidy loan for home ownership from the Investment and Structural Bank Rhineland-Palatinate?

If yes: The 3rd disbursement installment is only provided upon readiness for occupancy and the 4th installment only upon completion of the exterior facilities. How did you handle that? I can hardly pay the craftsmen only after moving in? The other construction financing components have already been largely used up.

So: Is there a possibility to have the remaining loan amount paid out, for example, to a blocked account at the house bank (Sparkasse)? From there, it could be quickly accessed, for example, to take advantage of discounts.

Best regards
karni

Hello Karni,

have you already applied for the loan or has it been approved yet?

I can't speak for the ISB or RLP, but other federal states have similar programs with similar rules, and to keep it short, I'll put it like this:

You have to meet completely different conditions beforehand, and when you get that far, the third and fourth installments are the least of your worries, because you always pay upfront with your own money and then get the money back from the ISB (or whoever processes the loan).

For example, we only received the last 6,000 EUR after completing the paving work. So you first pay this amount from your own capital, then the money is reimbursed. I could imagine it has to work the same way for you.

Good morning. The loan has already been approved; we are already building.

I will get in touch with the ISB and then report here.

I have now received a response from the ISB. Partial payments of the 3rd and 4th installment are possible upon submission of the respective invoice without further ado.

Hi Karni186,

I am currently facing the same question. Does that mean I can receive partial payments according to the progress payment invoices from the developer? Otherwise, we won’t make it...

Best regards,

Nessa

Good morning,

we spoke with the ISB and were then able to secure another payment with pictures of the construction and a current cost statement (what has been paid so far / what still needs to be paid). The whole thing should also be signed by us and not by the architect / site manager as before.

Since we had already completed the planned outdoor facilities, the last installment was also paid out and only 50% of the penultimate one was withheld. It is best to call the responsible caseworker and discuss the procedure. We clearly stated that the rest of the financing has been used up (planned equity / loan KfW and Sparkasse).