Terms for receiving a subsidy are defined by the Law. If the legal conditions are not met, the subsidy will not be approved, so please pay attention to the guidelines below.

Conditions for a subsidy applicant/user of a housing loan

A citizen with permanent residence in the Republic of Croatia.
A citizen who is not older than 45 years - upon submission of the application, you should not have reached 45 years of age.
A citizen whose spouse or life partner, informal life partner, does not own an apartment, or a house in a condition of usability where there are basic hygienic-technical conditions for living or who owns only one apartment or house in a condition of usability where there are basic hygienic-technical conditions for living and who sells (the deadline for sale is two years from the date of signing the agreement on a subsidized loan).

Loan purpose

The purpose of such a loan is exclusively for purchase of an apartment or a house to build them whose price with VAT per square meter of net usable area of the apartment or house is not higher than 1,500.00 euros. Subsidization of the loan is approved for a loan whose amount does not exceed 100,000.00 euros.

Loan repayment term

According to the Law, the loan repayment term should not be less than 15 years.

Loan subsidy

The state (APN) subsidizes the first five years of loan repayment from 30 to 51% of the annuity/monthly installment depending on eight groups of cities and municipalities according to the development index. In the VIII group, the subsidy is 30% of the monthly installment, and this includes cities of Zagreb, Rijeka, Split, Zadar, Varaždin.

possibility of additional extension of the deadline for subsidizing a loan:

for one year for each minor child at the time of signing the agreement on the subsidized housing loan,
for two years for each born or adopted child during the period of loan subsidization,
for two years if the applicant, or a member of their family household is determined to be at least 50% disabled.

Effective interest rate – represents the real cost of the loan

The Law on subsidized housing loans prescribes that the level of the effective interest rate (EIR) on a housing loan for the first five years of its repayment should not be higher than 3.75% per annum.

Good to know!

The way to calculate the EIR is unique for all Croatian banks, and it is prescribed by the Croatian National Bank (HNB). The level of the EIR is affected by the level of the regular interest rate, the level of different charges that the client pays to the bank (e.g. the charge for processing a loan), costs of property valuation, costs of property insurance through insurance policies, costs of the borrower's insurance, intercalary interest.

How to calculate the subsidized loan amount in accordance with legal conditions

1. Legal condition – Net usable area

Subsidization of the loan is approved only for the purchase of an apartment or a house, or for the construction of a house whose price per square meter of net usable area of the apartment or house is not higher than 1,500.00 euros (with VAT on the added value). The price per square meter of net usable area of the apartment or house can be higher than the specified amount, but APN subsidizes only up to that amount.

2. Legal condition – Maximum subsidized loan amount

Subsidization of the loan is approved for a loan whose amount does not exceed 100,000.00 euros. A housing loan can be higher than 100,000.00 euros, but APN subsidizes the loan installment/annuity whose amount does not exceed 100,000.00 euros.

Detailed check all conditions for lending!

All banks that will participate in this Program will try to attract clients with a lower interest rate, without a charge for loan processing, with the bank's valuation of the property's value, with various discounts and advantages related to insurance policies.

The credit intermediary offers free credit intermediary service, and the services are:

Verification of documentation of the property (ownership, legality),
Calculation of initial creditworthiness,
Comparison of conditions of multiple banks,
Preparation of documentation for the bank and APN,
Passing on the subject to the premises,
Coordination and monitoring of your subject, step by step, until payment.

Written by: Martina Mataić Škugor for: zeneinovac.com'

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