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All about CSOK Plusz 2024

CSOK Plusz 2024 Guide

In 2024, Hungary is set to introduce the CSOK Plusz program, a revamped version of the existing Family Housing Allowance Scheme (CSOK), tailored to further support families in achieving homeownership. Here’s an overview of what you need to know about CSOK Plusz 2024:

Key Features:

  • Subsidized Loans: The program offers loans ranging from 2.5 to 50 million HUF, with the amount depending on the number of existing and future children in the family. These loans come with a highly favorable fixed interest rate of up to 3%​​.
  • Loan Terms: Beneficiaries can choose loan terms between 10 to 25 years, providing flexibility in repayment plans​​​.
  • Debt Forgiveness: Starting from the second child born after the contract is signed, families can benefit from a 10 million HUF debt forgiveness for each new child, significantly reducing the total repayable amount​​.

Eligibility:

  • For Married Couples: The program is specifically designed for married couples planning to have children. Single parents and unmarried couples do not qualify​​.
  • Age Limit: Initially, mothers up to 41 years of age can apply, with special consideration for pregnant women in their 12th week or later​​.

Financial Advantages:

  • Reduced Monthly Payments: In the first year following loan issuance, only interest payments are required, substantially lowering the initial financial burden on families​​.
  • Special Conditions for First-Time Buyers: For those purchasing their first home, a minimum of only 10% down payment is required, compared to the standard 20% for other types of loans​​.

Application Process:

  • The process involves expert consultation, signing a real estate purchase contract, submitting a CSOK Plusz application, and undergoing a 30-day evaluation period before the loan is disbursed to the property seller​​.

Additional Insights:

  • Property Restrictions: The program does not cover land purchases and sets a maximum property value at 80 million HUF for first-time homebuyers​​.
  • Support for Construction: Families looking to build their homes can access free architectural plans to aid in the construction process​​.

Implementation and Future Developments:

  • The detailed rules and conditions for CSOK Plusz are expected to be finalized by November, with the program officially starting in January 2024​​.

The CSOK Plusz program represents a significant enhancement to Hungary’s family support system, aiming to make homeownership more accessible and financially manageable for families planning to grow. As the program’s launch approaches, prospective applicants should stay informed about the final details and prepare accordingly to take full advantage of the benefits offered.

Conclusion

The CSOK Plusz 2024 program marks a significant step towards making homeownership more attainable for families in Hungary, offering substantial financial support and incentives. With its favorable loan conditions, debt forgiveness for new children, and special provisions for first-time buyers, CSOK Plusz is poised to help many achieve their dream of owning a home.

Understanding the intricacies of such a comprehensive program can be challenging, but you don’t have to navigate it alone. Our real estate agency is here to assist you in exploring your options and applying for CSOK Plusz loans. With our expertise and support, we can help simplify the process, ensuring you make the most of the benefits available to you and your family. Contact us to discuss how we can assist you in securing a loan under the CSOK Plusz program and take a step closer to your ideal home.

For more detailed information and guidance on the CSOK Plusz program, don’t hesitate to reach out to our team. We’re here to provide you with the support and expertise you need to navigate the home buying process successfully.

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