The Polish government intends to help those who buy their first home. In what way?

On July 1, 2023, the «First Home» program will start working in Poland. This is a mortgage subsidy scheme that should help people under the age of 45 buy their first home.

More about the program. So, the government will offer home loans with a fixed interest rate of 2% for 10 years — this applies only to the first house or apartment. People under the age of 45 will be able to take out such a loan. The size of the house to be purchased can be anything.

What will be the limit on the amount of the mortgage? If the loan is taken out by a single person, the maximum loan amount will be up to 500,000 PLN (€106,540); for married couples, families and single parents, the threshold reaches 600,000 PLN (€127,862). 

As a bonus. Under the program, it will be possible to open a special savings account at a commercial bank. Moreover, if you meet a number of conditions, you can count on an additional financial bonus from the state. The conditions are as follows: you need to add from 106 euros to 426 euros in this account at least 11 times a year for 3-10 years, and then spend the accumulated amount to buy a house within the next five years.

 

You can learn more about obtaining a mortgage in Poland from our guide on mortgages in Poland for foreigners. It covers the key aspects of the process, from the list of required documents to a step-by-step guide for arranging housing loans.