A Better Option Than CSOK Plus: CSOK x CSOK for Hungarians in Budapest

Published: December 12 2023

The Hungarian government has recently introduced the CSOK Plusz program, which allows those who have already received the previous CSOK subsidy to apply for an increased subsidized loan. This new program offers larger loan amounts and more favorable terms, making it an attractive option for families in Budapest. In this article, we will explore the details and requirements of the CSOK Plusz program.

To be eligible for the CSOK Plusz program, applicants must meet certain criteria. This includes having already received the CSOK subsidy and fulfilling the requirements for the CSOK Plusz program, such as committing to have additional children. Additionally, if the application is submitted between January 1 and March 31, 2024, children born after January 1 will also be considered eligible for the CSOK Plusz program.

The loan amounts available through the CSOK Plusz program depend on the number of children and whether the loan is used for a new or used property. Families who have committed to one child and have not yet had the child can receive up to 600,000 HUF. For families who have committed to two or three children, the loan amount can range from 1.43 million to 10 million HUF, depending on the type of property and the number of children that have already been born.

If an applicant already has an existing CSOK loan and wants to apply for the CSOK Plusz program, they will need to repay the previously received interest subsidy and close the existing subsidy agreement. The exact amount to be repaid depends on the loan amount, the repayment period, and the contractual interest rate determined by the banks based on the reference index specified in the regulation.

To apply for the CSOK Plusz program, applicants must submit their application to the relevant authority along with the necessary documents. The application process involves verifying eligibility, reviewing the submitted documents, and assessing the loan amount that the applicant is eligible for. Once the application is approved, the applicant can proceed with the loan disbursement process.

The CSOK Plusz program offers several benefits for families in Budapest. With larger loan amounts and more favorable terms, families can afford to purchase or renovate larger properties to accommodate their growing families. The program also provides financial support to families who have already received the CSOK subsidy, allowing them to access additional funds for their housing needs.

In conclusion, the CSOK Plusz program is an attractive option for families in Budapest who have already received the CSOK subsidy. With larger loan amounts and more favorable terms, this program provides additional financial support to families with growing children. By taking advantage of the CSOK Plusz program, families can secure affordable housing options that meet their needs.

What is CSOK Plusz in Hungary? CSOK Plusz is a program in Hungary that offers increased subsidies and loans for families who want to purchase or build a home.

Who is eligible to apply for CSOK Plusz in Hungary? Hungarian citizens who have already taken advantage of the regular CSOK program as well as those who have not yet completed their childbearing obligations can apply for CSOK Plusz. However, specific eligibility criteria will depend on the number of children the applicant has and their future childbearing plans.

What are the repayment requirements for CSOK Plusz in Hungary? To qualify for CSOK Plusz, applicants who are currently repaying CSOK loans must repay the previously received interest rate support and close their support agreement. The exact repayment amount will depend on factors such as the loan amount, repayment period, and the contractual interest rate determined by the banks.

What additional benefits does CSOK Plusz offer compared to the regular CSOK program? CSOK Plusz offers significantly increased subsidized loans, with amounts ranging up to 50 million forints, compared to the maximum of 15 million forints offered by the regular CSOK program. This allows families to access larger loans at lower interest rates.

Can individuals who have already purchased or built a property with CSOK assistance apply for CSOK Plusz? Individuals who have already utilized CSOK assistance to purchase or build a property but do not plan on having any more children beyond their current obligations are not eligible for CSOK Plusz. However, those who are willing to have additional children may need to look for a larger property, as the requirement to move into a larger property with more children remains for CSOK Plusz as well.

How is the repayment amount calculated for CSOK Plusz in Hungary? The amount that needs to be repaid for CSOK Plusz depends on the number of children the applicant has already committed to but have not yet been born. The repayment amount includes the difference between the already received amount and an additional 600,000 forints for one child, or additional amounts for two or three children depending on whether the property is new or used.

When can someone apply for CSOK Plusz if their child is born after January 1, 2024? In the case where a child is born after January 1, 2024, but before submitting the CSOK Plusz application between January 1 and March 31, they can still be considered as part of the CSOK Plusz eligibility criteria.

What is the CSOK Plusz interest rate in Hungary? The CSOK Plusz program offers a 3% subsidized interest rate for the loans. However, the specific interest rate will depend on the reference rate determined by the banks and may vary over time.

What is the CSOK Plusz application period? The application period for CSOK Plusz starts from January 1, 2024, and individuals have until March 31, 2024, to submit their applications.