If you are allocated to social housing by a modest income, you will in many cases still be eligible for a social loan . For example for the renovation of your social home. At coregroupinstall.com you will receive an unambiguous overview of your options with regard to applying for a social loan . The social housing companies operating in Belgium are Brussels Regional Housing Company (BGHM), Flemish Social Housing Company (VMSW) and Société Wallonne du Logement (SWL).
Why a social loan
You can apply for a social loan for the purchase or renovation of a social housing or apartment. However, some conditions have been set for this application. For example, your taxable income cannot be less than US $ 9,999 or exceed the maximum limit. The maximum permitted taxable income is determined on the basis of your family composition, but also the location of your apartment or home. 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 house or apartment, the purchase price serves as the maximum amount of the social home 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 house 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 house or apartment is located in a core city or if you have a seriously disabled child. During the term of the social loan, the interest rate is adjusted to your situation. During the term, your taxable income is also considered and this affects the interest rate.
During the social loan simulation you need to enter some data. 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 take out the social loan. During the appointment, it will only be confirmed with certainty whether you are eligible for the social loan.