Requirements for receiving a subsidy are defined by the Law on Subsidizing Housing Loans. If the legal requirements are not met, the subsidy will not be approved, so pay attention to the guidelines below. CONDITIONS FOR A SUBSIDY APPLICANT / HOUSING LOAN USER

a citizen residing on the territory of the Republic of Croatia
not older than 45 years – when submitting the request you must not have just turned 45
who, or whose spouse or cohabiting partner or non-formal cohabiting partner does not own a dwelling, or has a dwelling in such a state of usability that there are basic hygiene and technical conditions for life, or who owns only one dwelling that is in such a state of usability that there are basic hygiene and technical conditions for life, and who is selling (at the latest within two years of the date of concluding the subsidized loan contract)

LOAN PURPOSE

purchase of an apartment or house
construction of a house

the price of which, including the value added tax per square meter of the net useful floor area of the apartment or house, is not higher than EUR 1,500 in Croatian kruna exchange rate according to the average exchange rate of the Croatian National Bank. Subsidized loans are approved for loans whose amount does not exceed EUR 100,000 in Croatian kruna exchange rate according to the average exchange rate of HNB. REPAYMENT PERIOD OF THE LOAN

according to the Law, the repayment period of the loan must not be less than 15 years

SUBSIDY ON THE LOAN

in the first five years of loan repayment, the state (APN) subsidizes from 30 to 51% of the amount of the annuity/installment, depending on the 8 group in which the town or municipality is located according to the development index. In the VIII group, the subsidy is 30% of the monthly installment or annuity, and this includes the cities of Zagreb, Rijeka, Split, Zadar, and Varaždin

possibility of additional extension of the repayment period for the subsidized loan:
for one year for each minor child at the time of concluding the contract for subsidized housing loan – a new feature in 2019
for two years for each child born or adopted during the period of loan subsidy
for two years in the event that the applicant or a member of his household is determined to have a disability of at least 50%

EFFECTIVE INTEREST RATE – represents the actual cost of the loan

the effective interest rate (EIR) on the housing loan for the first five years of its repayment must not exceed 3.75% per annum

Do not forget! The method of calculating EIR is unique for all Croatian banks and is prescribed by the Croatian National Bank (HNB). The effective interest rate is influenced by the regular interest rate, various fees that the client pays to the bank (e.g. processing fee), property valuation costs, property insurance costs through insurance policies, client loan insurance costs, and intercalary interest. Carefully check all credit conditions! All banks participating in this Program will strive to attract customers with a lower interest rate, without a fee for processing the loan application, property valuation on the bank's account, and various discounts and benefits related to insurance policies. The banks will offer a loan offer with a currency clause in EUR, and Croatian loans, with the possibility of choosing loan repayment in monthly annuities or installments. Verification checklist for documentation required by the commercial bank and APN

Loan application for a housing loan (for the bank)
Application for subsidized loan (for APN)
Nationally certified statement of the loan applicant that he/she does not own/applies for ownership of a dwelling
Nationally certified statement of the partner that he/she does not own/applies for ownership of a dwelling
Copy of the personal identity card (front and back)
Copy of the birth certificate for a minor child
Statement on the property belonging to the level of development of the municipality
Confirmation of the Croatian Institute of Public Health about the entry of the person in the Croatian Register of Persons with Disabilities (if the applicant or a member of his household has a disability of at least 50%)
Creditworthiness documentation
Land Registry excerpt
Letter of intent or Contract for the sale of an apartment / house (for purchase purposes)
Copy of the personal identity card (front and back) of the seller (natural person) or Extract from the Court Registry (legal entity)
Statement on marital inheritance or the spouse's consent (if not included in the Letter of Intent / Contract for Sale)
For the purchase of an apartment or house: copy of the act on the use of the building in which the apartment or house is located
For construction/reconstruction/refurbishment of a house: copy of the act on construction and copy of the estimate of costs, based on the main or executive project, from which the amount of construction costs is evident

Author: Martina Mataić Škugor

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