If you are assigned to social housing by a modest income, you will in many cases still be eligible for a social loan. For example, for renovating your social home. At simulatielening.be you will receive a clear overview of your options with regard to applying for a social loan.
Why a social loan
You can request a social loan for the purchase or renovation of a social home or apartment. However, a number of conditions have been imposed on this application. For example, your taxable income may not be less than 9,999 euros and not exceed the maximum limit. The maximum permitted taxable income is determined on the basis of your family composition, but the location of your apartment or residence is also taken into account. You can make a simulation of the social loan on the basis of your taxable income.
How much is the social loan
When purchasing a home or apartment, the purchase price serves as the maximum amount of the social housing loan. If you use the loan to realize your renovation, the cost price is used as the maximum amount. The maximum amount of the social loan may not exceed the estimated sales value of your home or apartment after the renovation has been included in the calculation.
The interest rate
The interest rate is calculated in combination with your taxable income and the number of people that make up your family. In addition, the interest rate is reduced if your home or apartment is located in a core city or if you have a seriously disabled child. The interest rate will be adjusted to your situation during the term of the social loan. Your taxable income is also examined during the term and this has an effect on the interest rate.
During the social loan simulation you must enter some information. Among other things, you will be asked about your family situation and your taxable income. The results of this simulation determine whether you are eligible for a social loan. The simulation provides you with a first impression of your options and is not binding. After the simulation you can make an appointment with a specialist to be able to take out the social loan. During the appointment it will only be confirmed with certainty whether you are eligible for the social loan.