Starter Loan

Here's how the Starter Loan works

The Starters Loan is a support for starters in the housing market. The municipality of Wassenaar thus makes a first home purchase possible. How does this supplementary loan work? And where do you apply for the Starters Loan? We have listed it for you.

The Starter Loan is an additional loan

The Starter Loan is an additional loan on top of the regular (first) mortgage. This additional loan can bridge the gap between the maximum mortgage a bank provides and the amount needed to buy the first home.

You can apply for the Starter Loan at the municipality 

You apply for the starter loan at the municipality, using the digital application form. Within 4 to 8 weeks you will receive a decision on your application. The stimulus fund executes the starters loan. With the positive decision you can apply for the starters loan at the SVn. The SVn does the financial test and makes a decision whether or not to grant the starters loan and determines the amount of the starters loan.

For current information on the Starter Loan, visit www.svn.nl. You can make a preliminary calculation to see if you qualify for a Starter Loan.

The Starter Loan consists of two parts 

The Loan to value (the ratio of the loan to the value of the home) is limited to 100% of the purchase price or (appraised) value of the home. A box 1 (mortgage) loan that you repay on an annuity basis and an incremental box 3 loan. We call the box 3 loan the Combination Loan. For both loan parts you have no monthly costs for the first 3 years. You "pay" the repayment of the Starter Loan during the first 3 years with the Combination Loan. Therefore, the Combination Loan is always increasing during the first 3 years. After this 3-year period, you will (in principle) pay interest and repayment. The moment you pay the full interest and/or repayment, you repay both the Starter Loan and the Combination Loan.

The Starter Loan is guaranteed by the Home Ownership Guarantee Fund (WEW). 

The WEW guarantees the Box 1 loan. The Combination Loan does not fall under the guarantee of the WEW. In case of a loss declaration at the WEW, SVn will take care of the remaining Combination Loan.

The Starter Loan can be repaid penalty-free 

You can make additional repayments at any time. It costs nothing, you don't have to pay a penalty. Just transfer the amount you want to repay to SVn and they will do the rest. Always state your loan number.

Do you want to apply for a Starter Loan? Learn more on the SVn website or watch the video about the Starters Loan.

Due to Privacy laws, correspondence regarding the application will only be with the applicant (home buyer) and not with the financial advisor/mortgage lender or third parties.

How does it work?

Who is the Starter Loan intended for?

For young starters who cannot get the financing to buy their first home, the municipality offers a solution through the Starter Loan. The maximum Starter Loan is €40,000.00. You can only submit the application once you are going to buy a home and have an agreement on the purchase price. You can submit the application in advance and submit a signed purchase agreement within 2 weeks.

If you meet all the Requirements, you can submit the online Starter Loan application form.

  1. Are you buying a home for the first time? This criteria applies to both applicants.
  2. Are you between the ages of 18 and 40? The age requirement applies to both applicants.
  3. Have you lived within the municipality of Wassenaar for at least five consecutive years or have you lived within the municipality for at least five consecutive years? Do any of the applicants of Are you currently living in the municipality and have been renting an independent social rental property for at least two consecutive years and will this property become available for social rental again? Applies to both applicants.
  4. The total acquisition cost for the home does not exceed €450,000 (mortgage with NHG) For homes that invest in energy-saving features, the NHG cost limit increases to a maximum of €477,000

What to do

You, the buyer(s) of the home apply for a Starter Loan by completing the digital form (via DigiD). On the basis of the data you provide, we will check whether you meet the Requirements. If you meet the Requirements then you will receive an allocation decision by mail and email.

If you do not meet the Requirements , you will receive a rejection decision.

Due to short processing times, this application can only be applied for by the Starter Loan applicant and not by intermediaries and/or third parties (such as a financial advisor, mortgage lender).

How long does it take?

If you submit an application, you will receive an acknowledgement of receipt within two weeks.

Within eight weeks of receiving a complete application, you will receive an allocation or rejection decision.

Please note that the entire application process for a Starter Loan takes approximately three months.

Additional information

All communication regarding your Starters Loan application goes through SVn. They also determine the amount of the Starter Loan. If you want to borrow a lower amount (i.e. different amount), you must communicate this directly with the SVn, so they can take this into account.

Directly arrange online

The municipality of Wassenaar works with DigiD. Would you like to know more or apply for a DigiD? Please visit www.digid.nl

Before filling out the e-form, it is advisable to be aware of the NHG standards.

DigiDApplication form starter loan with DigiD

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