IFB Supplementary Loan
The IFB Supplementary Loan from the Hamburg Investment and Development Bank offers low-interest financing for the construction or acquisition of owner-occupied single-family homes and condominiums in Hamburg. It targets natural persons and allows for co-financing of up to 100 percent of eligible costs, with a maximum of 100,000 euros. This program is a central instrument for promoting private residential construction in Hamburg.
Who is Funded: Target Groups and Regional Focus of the IFB Supplementary Loan
The IFB Supplementary Loan is aimed at natural persons in Hamburg who wish to use a single-family home or condominium for their own occupancy, in order to finance its construction or acquisition. It is intended for German citizens and persons with permanent residency rights who meet certain financial requirements. The program aims to support residential construction and real estate acquisition in Hamburg.
What is Funded: Measures and Costs
The program promotes the construction or acquisition of owner-occupied single-family homes and condominiums in Hamburg. This includes land, construction, and ancillary costs, as well as purchase price, modernization, and conversion costs. Furnishings are excluded. The funding is directed at measures in the area of private residential construction and acquisition.
Type and Scope of Funding: Loans and Conditions
The IFB Supplementary Loan is offered as a low-interest loan. It amounts to up to 100,000 euros or up to 100 percent of eligible costs per housing unit. Loan terms can be up to 30 years, with fixed interest periods of either 10 or 15 years.
Conditions and Requirements: Eligibility and Collateral
Applicants must be natural persons with German citizenship or permanent residency rights, who are sufficiently capable and reliable. An own contribution of at least the ancillary costs and 50% of the modernization costs is required. The loan must be secured in a customary banking manner, typically by a land charge. Refinancing and subsequent financing are excluded.
Application Process: Procedure and Selection
Applications for the IFB Supplementary Loan are submitted to IFB Hamburg through a cooperating financial institution before the start of the project. IFB Hamburg decides on the allocation of funds within the available budgets. There is no legal entitlement to the granting of funding.
Legal Basis and Official Documents
The IFB Supplementary Loan is based on § 4 para. 3 of the Law on the Hamburg Investment and Development Bank in agreement with the Ministry of Urban Development and Housing (BSW). The relevant funding conditions are laid down in the "Product Information for the Financing of Residential Property Acquisition" from March 1, 2020, and are available from IFB Hamburg.
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Funding Overview
Funding Status:
Open
Maximum Amount:
€100,000
Deadline:
always open
Open Until:
Ongoing
Award Channel:
Individual Aid
Region:
Hamburg (Germany)
Sectors:
Other
Application Type:
Single Applicant
Funding Stages:
Implementation, Infrastructure
Funding Provider
Program Level:
Regional
Funding Body:
Hamburg Investment and Development Bank (IFB Hamburg)
Managed By:
Hamburg Investment and Development Bank (IFB Hamburg)
Additional Partners:
Credit institutions (cooperation partners for channeling KfW and supplementary financing loans)