Program for Existing Owner-Occupied Dwellings
The purchase of existing owner-occupied properties as an alternative to building new ones crucially helps promote the amount of residential properties available for families. This program supports the purchase of owner-occupied family-friendly, duly scaled houses or apartments such that they are affordable for households with children. The precondition is that the family does not yet own residential property. The loans are interest-free for a maximum of ten years and are redemption-free for the first five years.
The State of Hessen also makes financing available to promote the purchase of existing properties (so-called Hessen Loans). Low-income families with several children can draw on both programs if only with the assistance of the additional municipal loan can they bear the financial burden of buying property. The Municipal Residential Construction Support Agency provides advice and takes receipt of applications. For details on the State program you can also simply visit WI-Bank. Under the heading of “Promoting Owner-Occupied Homes” you will find the requisite application form and a property checklist that informs you about the construction status of a used property and the possible outlays needed for modernization.