Hungary's Prime Minister Viktor Orban posted a short video on his social media page about the Home Start Program launched this week. In his post, he wrote: “Your own home? With Home Start, it’s this simple. Get on it!”
The short film demonstrates
how easy it is to take out the 3% loan—from the initial idea all the way to implementation, that is, purchasing of a home.
As has been widely reported, through Hungary’s largest home creation program of recent decades, as of Monday, people can now apply for the fixed 3% interest home loan. Compared to the current 7% market mortgage rates, this represents massive savings for first-time homebuyers.
The preferential loan can be taken out with just a 10% down payment by anyone who: does not currently own and has never owned more than a 50% share in a residential property, can demonstrate at least two years of social security contribution history, has no criminal record, has no outstanding public debt, and is deemed creditworthy.
The fixed 3% interest loan, with a maximum term of 25 years, can also be combined with other family support schemes such as CSOK+ (Family Housing Benefit Plus), Rural CSOK, and the Baby Expecting Loan.
