Promotion Hessen Loan - WI Bank

Good evening everyone,

we are in the process of acquiring a home here in Hessen. We have also received various offers from banks and financing confirmations. The purchase price has now been fully negotiated and in the next few days we have to sign a reservation agreement. Afterwards, everything else should be set in motion.

Now, relatively late in the whole process, I came across the Hessen-Darlehen Bestandserwerb from Wi Bank for the first time and am, of course, very interested in securing these great interest rates (0.68%). My girlfriend and I would be eligible for the funding program. Next Tuesday I have an appointment at the housing promotion office to get support for correctly filling out the forms. Now to the question:

- Has anyone experienced how long the processing of such an application takes, possibly also with a preliminary approval?
- How would you proceed now, as I think not much time will pass until the purchase contract, notary, etc., but I would definitely wait to (hopefully) secure this loan for myself?

I thank you in advance for answers and tips and wish everyone a cozy week.

https://www.hausbau-forum.de/threads/hessen-darlehen-neubau-erfolgreich-beantragen.44724/

Take a look at the older posts, I have already shared my experiences with the Hessen loan there.

https://www.hausbau-forum.de/threads/hessen-darlehen-neubau-erfolgreich-beantragen.44724/

Take a look at the older posts, where I have already shared my experiences with the Hessen loan.

Thank you, I have done that. Still, maybe the question of how you would act regarding waiting for application processing and an appointment with the notary, etc.

The question is how soon the notary appointment is planned... if necessary, it can still be postponed. You have the appointment at the funding office next Tuesday... Then you can discuss everything there. If the conditions are met, then complete and submit the application as quickly as possible...

When I went through the process, it became clear to me why this is so rarely used in existing property acquisitions. The market is all about speed, agents preferably want buyers with existing financing approval, and if someone doesn’t have that yet, they simply take someone else. We were lucky that our sellers had planned extra time and basically waited for us.

The question is how soon the notary appointment is planned... if necessary, it can still be postponed. You have the appointment at the funding agency next Tuesday... You can discuss everything then. If the requirements are met, prepare and send the application as quickly as possible...

When I went through the process, it became clear to me why this is so rarely used for existing property purchases. In this market, it's all about speed, brokers prefer buyers with existing financing approval, and if someone doesn't have that yet, they just take someone else. We were lucky that our sellers had planned extra time and practically waited for us.

I am very grateful for your contribution/recommendation The notary appointment is not scheduled at all yet and I am still waiting for the reservation agreement from the broker.

I will hope for a quick processing and then talk to the broker after the appointment on Tuesday

https://www.hausbau-forum.de/threads/hessen-darlehen-neubau-erfolgreich-beantragen.44724/

Take a look at the older posts, there I have already shared my experiences with the Hessen loan.

One more quick question
The promotional loan can only cover a maximum of 50% of the total costs. Do you already need a suitable offer from another bank (topic external financing) when applying, and how cooperative are the banks in this regard? The 10% of the total costs are already planned in the WI Bank loan and that would also be my maximum amount of equity.

Thanks in advance!