These mortgage loans are also called “social loans” and are granted by social organizations or accredited by the Walloon Region.
Simulate your loan online
The loans are granted for:
- the purchase, construction, renovation, or transformation of a home;
- the implementation of energy-saving works;
- the repayment of an expensive loan already contracted for a home;
- the creation of a nearby housing intended to accommodate elderly parent(s);
- the purchase of a building plot.
The Walloon Large Families Housing Fund is a cooperative society that grants social loans to large families with dependent children at decreasing rates. Created in 1929, the foundation’s main missions are outlined in Article 179 of the Walloon Code of Housing and Sustainable Habitat.
This includes social mortgage loans, ecopacks, and renopacks (for Walloon families wishing to buy a house or renovate their home), rent assistance (to finance the renovation and repair of housing that will be rented mainly to large families).
And the management of social housing organizations (OFS). The foundation’s website details all the conditions under which these aids are available. Our credit brokers are at your disposal to assist you with your large family credit file in the Walloon Region.
Conditions for granting the large family loan
The borrower has a family with at least three dependent children. He resides in Belgium and is not the full owner or usufructuary of another home. His taxable income must not exceed certain ceilings.
The property must be located in the Walloon Region. Its market value and volume must not exceed regulatory limits.
The interest rate is calculated based on taxable income, the number of dependent children of the borrower, and the geographical location of the property.
The loan amount depends on the market value of the property.
Loan repayment is made monthly, over a period determined by the household budget and the borrower’s age.
Guarantees
The Housing Fund requires a double guarantee:
- loan coverage through a single premium decreasing balance life insurance, which can be advanced by the Fund
- the taking of a mortgage registration on the home.