First-Time Homebuyer Loan
How the Starter Loan Works
The Starter Loan is a helping hand for first-time homebuyers. The municipality of Voorschoten uses this program to help people purchase their first home. How does this supplemental loan work? And where can you apply for the Starter Loan? We’ve laid it all out for you.
The Starter Loan is a supplemental loan
The Starter Loan is a supplemental loan taken out in addition to a standard (first) mortgage. This supplemental loan can bridge the gap between the maximum mortgage amount a bank will provide and the amount needed to purchase a first home.
You can apply for the Starter Loan at city hall
You apply for the starter loan through the municipality using the online application form. You will receive a decision on your application within 4 to 8 weeks. The incentive fund administers the starter loan. Once you receive a positive decision, you can apply for the starter loan through SVn. SVn conducts a financial assessment, decides whether or not to grant the starter loan, and determines the amount of the loan.
For the latest information on the Starterslening, visit www.svn.nl.
The Starter Loan consists of two parts
The “loan-to-value” ratio (the ratio between the loan amount and 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 using the annuity method and an increasing Box 3 loan. We refer to the Box 3 loan as the Combination Loan. For both loan components, you have no monthly payments for the first 3 years. You “pay off” the Starter Loan during the first 3 years using the Combination Loan. As a result, the Combination Loan balance always increases during the first 3 years. After this 3-year period, you (in principle) pay both interest and principal. Once you begin paying the full amount of interest and/or principal, you’ll be making payments on both the Starter Loan and the Combination Loan.
The Starter Loan is guaranteed by the Homeownership Guarantee Fund (WEW)
The WEW guarantees the Box 1 loan. The Combination Loan is not covered by the WEW’s guarantee. In the event of a loss claim filed with the WEW, SVn will assume responsibility for the remaining Combination Loan.
You can repay the Starter Loan without incurring a penalty
You can always make an extra payment. There’s no charge, and you won’t have to pay a penalty. Simply transfer the amount you want to pay toward your loan to SVn, and they’ll take care of the rest. Be sure to always include your loan number when making the payment.
Would you like to apply for a Starter Loan? Learn more on the SVn website at or watch the video at about the Starter Loan.
In accordance with privacy laws, correspondence regarding the application will be conducted solely with the applicant (the homebuyer), not with the financial advisor, mortgage lender, or any third parties.
How does it work?
Who is the Starter Loan intended for?
For young first-time homebuyers who are unable to secure financing for the purchase of their first home, the municipality offers a solution through the First-Time Homebuyer Loan. The maximum loan amount is €35,000.00. You can only submit your application once you are ready to purchase a home and have reached an agreement on the purchase price. You may submit your application in advance and submit a signed purchase agreement within two weeks.
If you meet all the requirements, you can submit the online application form for the Starter Loan.
- Are you buying a home for the first time? This criterion applies to both applicants.
- Are you between the ages of 18 and 35? The age requirement applies to both applicants.
- Have you lived in the municipality of Voorschoten for at least five consecutive years, or are you currently living there for at least five consecutive years? This applies to one of the applicants.
- The total purchase price of the home does not exceed €450,000 (mortgage with NHG). For homes in which investments are made in energy-saving features, the NHG price limit increases to a maximum of €477,000.
What should I do?
You, the buyer(s) of the home, apply for a First-Time Homebuyer Loan by filling out the online form (using DigiD). Based on the information you provide, we will determine whether you meet the eligibility requirements. If you meet the requirements, you will receive a notice of approval by mail and email.
If you do not meet the requirements, you will receive a notice of denial.
Due to the short processing times, this application can only be submitted by the applicant for the Starters Loan and not by intermediaries and/or third parties (such as a financial advisor or mortgage lender).
How long does it take?
If you submit an application, you will receive a confirmation of receipt within two weeks.
Within eight weeks of receiving a complete application, you will receive a decision granting or denying your application.
Please note that the entire application process for a Starterslening takes approximately three months.
Additional Information
All communication regarding your Starter Loan application is handled by SVn. SVn also determines the amount of the Starter Loan. If you wish to borrow a lower amount (i.e., a different amount), you must contact SVn directly so they can take this into account.
Arrange it online right away
The municipality of Voorschoten uses DigiD. Would you like to learn more or apply for a DigiD? If so, please visit www.digid.nl
Before filling out the e-form, it is advisable to familiarize yourself with the NHG standards.
Application Form for a Starter Loan with DigiD