The Walloon housing fund grants mortgage loans to large families. The interest rates are advantageous and the conditions are studied and adapted to each situation.
These mortgage loans are also called “social loans” and are granted by social organizations or accredited by the Walloon Region.
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Loans are granted for:
- the purchase, construction, renovation or transformation of housing;
- carrying out energy-saving work;
- the repayment of an expensive loan already taken out for a home;
- the creation of local housing intended to accommodate elderly parent(s);
- the purchase of building land.
The Walloon Large Families Housing Fund is a cooperative society which grants social loans to large families with dependent children at decreasing rates. Created in 1929, the foundation’s main missions are article 179 of the Walloon housing and sustainable housing code.
These include social mortgage loans, ecopacks and renopacks (for Walloon families who wish to buy a house or renovate their home), rental assistance (to finance the renovation and repair of housing which 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 this aid is available. Our credit brokers are at your disposal to help you with your large family credit file Walloon Region.
Conditions for granting a 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. Their taxable income cannot exceed certain ceilings.
The building must be located in the Walloon Region. Its market value and volume do 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 building.
The loan is repaid monthly, over a period set according to the household budget and the age of the borrower.
Guarantees
The Housing Fund requires a double guarantee:
- coverage of the loan by means of death insurance of the outstanding balance type with a single premium, which can be advanced by the Fund
- taking out a mortgage registration on the accommodation.
