Mortgage Without a Down Payment in Poland: The RKM Programme

Buying a flat in Warsaw, Kraków or Wrocław without savings for a down payment is not a fantasy. Poland has a state programme, Rodzinny Kredyt Mieszkaniowy (RKM), which allows you to take a mortgage with a zero down payment or with a minimum down payment of 10%. In Mokko Real Estate’s practice we regularly see clients who spent years postponing a purchase for lack of starting capital successfully closing a deal through this very programme.

What the RKM programme is and who it suits

RKM is not a subsidy and not a preferential rate. The state acts as guarantor of the loan in place of a down payment: the bank gets security, and the borrower gets the chance to buy a home without having 10–20% of the property’s value. The programme is aimed primarily at people buying their first home. Formally, both single borrowers and families — including those without children — can take part. The main condition: at the time of application you must not own any other residential property.

Key parameters of the programme

The state guarantee covers from 10 to 20% of the property’s value — exactly the part that is usually the down payment. The maximum loan amount with a guarantee is PLN 500,000 for a single person and PLN 600,000 for a family. The property must meet the price-per-square-metre limit, which depends on the city and the type of market (primary or secondary). For Warsaw and Gdańsk the limits are traditionally higher, for smaller cities lower. An important nuance: if a family has or acquires a second child, the state additionally repays part of the debt.

How it works in practice

You apply to one of the participating banks — the list is published by BGK (Bank Gospodarstwa Krajowego). The bank assesses your creditworthiness under the standard scheme: income, expenses, credit history. The BGK guarantee is attached automatically if you meet the programme’s conditions. In our experience, one of the frequent stumbling blocks is a chosen property that does not meet the price-per-square-metre limits. This is where Mokko Real Estate helps clients select properties that fit the programme’s parameters in advance — saving weeks of time and nerves.

What to pay attention to before applying

A few things we check with clients before the visit to the bank. First — the status of owned property: if you or your partner ever held a share in a residential property, this needs to be clarified separately. Second — the current price limits for your city: they are reviewed periodically, and a flat that fitted three months ago may now fall outside them. Third — your income must be documented: employees go through more easily, sole traders and freelancers with more difficulty, but they pass too. In Mokko Real Estate’s practice we support clients at the document-gathering stage and help present the financial picture to the bank correctly.

Advantages and limitations worth knowing

The main advantage is obvious: you can buy a flat in Poznań, Gdańsk or Warsaw without savings for a down payment. The rate is the market rate — there are no artificial interest subsidies. As for limitations: the purchased home cannot be rented out during the first years of the guarantee — this is a strict condition of the programme, and breaching it cancels the guarantee and the debt must be repaid early. In addition, the property must be intended for personal residence. The programme does not suit those buying for investment.

Is it worth trying

If you have a stable income, a clean credit history and no savings for a down payment, RKM deserves serious consideration. The programme really works: we regularly see deals closed through it. The main thing is to assess the property and your own situation soberly before applying, so as not to waste time on properties that will clearly fail the limits.