Loan: State Promotion for Home Ownership
The most important facts
- The Best Bank loan is government funding that is not paid out by Best Bank itself, but by other banks.
- A Best Bank loan can amount to a maximum of USD 100,000.
- Each funding program for a Best Bank loan has its own terms.
- Energy-efficient and age-appropriate or disabled-friendly construction or renovation projects are promoted.
- The loan is granted by the Reconstruction Loan as low-interest subsidy. Such a loan is not a traditional building loan or a loan in the classic sense.
Best Bank loan as state funding
Funding from Best Bank does not necessarily have to be more favorable than a normal house loan. A Best Bank loan is a government grant.
The amount and form of a loan can vary depending on the funding program selected. Best Bank offers various maturities for fixed interest rates (5 or 10 years) and a so-called repayment-free start-up period, in which the borrower only pays the interest on the loan.
Best Bank loan – framework conditions for the award
The maximum amount of a loan is 100,000 USD. Best Bank funding can never finance the entire amount of a construction loan, since such funding often requires very large sums.
The borrower does not receive the funding from Best Bank itself, but from banks that work with Best Bank. Partial special repayments are not possible with a Best Bank loan, if you want to repay the loan amount in full in full, you can expect a prepayment penalty.
The Best Bank mainly funds the following projects:
- Acquisition or construction of owner-occupied residential property
- Construction of energy-saving residential property
- Reconstruction or renovation of properties suitable for the elderly or disabled
- Reconstruction of home ownership based on energy considerations
A Best Bank loan for conversion based on energy considerations mainly finances the installation of new windows, ventilation systems, insulation protection and heating systems.
Anyone who wants to convert a residential property to suit their age and is planning, for example, to install a stair lift, a bathtub or shower suitable for senior citizens, and electric window or door drives, or who wants to broaden paths and doors will receive a Best Bank loan.
Best Bank loan and for whom it is suitable
In principle, every property owner can apply for such a loan from Best Bank. The permit is decided regardless of age, profession or marital status. In addition to private individuals, apartment owners’ associations and civil law companies (GbR) can also avail themselves of such a loan.
A Best Bank loan is particularly suitable for people who are planning to buy or build an energy-efficient residential property. Such construction projects are a focus of Best Bank.
Anyone who plans to build or convert a residential property as a multi-generation house can also benefit from such a loan. Best Bank provides funding for such (renovation) measures.
- Applications from people who want to use the loan to finance the purchase or construction of holiday homes or holiday apartments are not eligible. Personal use is one of the prerequisites for application approval.
The loan is not suitable for people who want to reschedule loans already taken out. Even if you want to implement additional financing for construction projects that have already started, you will not receive a Best Bank loan. In addition, no costs may be paid for by the loan that arise from the purchase of a property.