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Do I qualify for the affordable housing scheme

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  • 28-01-2023 8:39pm
    #1
    KurtBarlow
    Registered Users Posts: 390 ✭✭


    Just wondering if I would be eligible for the affordable housing scheme as a single applicant. I have a decent job but alot of the extras I get are from shift and overtime which the banks won't consider. I had a conversation with the CU and the most they could lend me was 200k



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    #2
    zell12
    Registered Users Posts: 23,617 ✭✭✭✭zell12


    Of course you are eligible.



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    #3
    KurtBarlow
    Registered Users Posts: 390 ✭✭KurtBarlow


    I think I am also eligible for the help to buy . Just wondering is the help to buy considered the deposit or do I need to also have 10% deposit myself



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    #4
    KurtBarlow
    Registered Users Posts: 390 ✭✭KurtBarlow


    If I take advantage of both the help to buy and the affordable housing scheme the max that's available is 30%. If the new build I want to buy is 300k that means 90k benefit is available to me so I'll need to be approved for 210k from the bank. I believe I also need to have 10% of the purchase price myself. Is this correct? And in this situation would it be 10% of 300k or 210k ?



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    #5
    Oscar Madison
    Registered Users Posts: 693 ✭✭✭Oscar Madison


    I really feel for people purchasing a property today!

    Incredible expectations on buyers by developers & banks!



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    #6
    rob316
    Registered Users Posts: 17,978 ✭✭✭✭rob316


    https://www.boards.ie/discussion/comment/120171222#Comment_120171222

    You need 10% of purchase price 30k, if you qualify for the full 30k help to buy that's your deposit, if not you need to make up the rest of the 30k in cash. You can get the state to take 20% equity in your new build, you then get mortgage for remainder.



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