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Subsidy Balsts

Subsidy Balsts is a one-time support to families with children for reducing the first payment for purchase or construction of housing.

    • At the amount of EUR 8,000 if there are 3 children in the family (or 2 children and the third is expected)

    • At the amount of EUR 10,000 if there are 4 children in the family (or 3 children and the fourth is expected)

    The subsidy is increased by EUR 2,000 if the purchased/built house has almost zero energy consumption in line with the energy efficiency norms.

    The subsidy can be granted if:

    • a loan is received in the bank for purchase or construction of housing;

    • there are at least 3 or more children in the family (or 2 children and the third is expected);

    • the recipient of the subsidy does not own any other residential premises (house, apartment, summer cottage);

    • the gross family income in the previous taxation year does not exceed EUR 17,000 per family member;

    • the recipient of the subsidy has been a tax payer in Latvia for the past 12 months;

    • the subsidy does not exceed 50% of the transaction sum (max. EUR 250,000);

    • the subsidy has not been granted earlier to the recipient.

  • How to apply? 

    In order to receive the subsidy, you have to turn to any of the banks ALTUM has cooperation with and apply for a mortgage loan, marking that you wish to receive subsidy Balsts. It can be granted together with the housing guarantee for families with children.