These regulated credits may be related to state aid that allows you to borrow on better terms. Namely, the bank or financial institution from which you subscribe to such a mortgage must have signed an agreement with the State. Depending on the type of mortgage it can finance all or part of the cost of your operation. As its name indicates, regulated credits are granted under certain conditions.
Zero-rate or PTZ credit
This interest-free credit is intended to finance the acquisition of a first asset for households. It can be interpreted as state aid for home ownership. It is mainly used for the purchase of a new property but can be used in rare cases for the acquisition of an old property. This mortgage can not finance the entire credit, it must be completed by other credits. This zero-rated credit is highly regulated, the conditions for granting are numerous. The level of income and the personal situation of the borrower, the geographical location and the state of the property, the energy performance of the property, the number of people likely to live in this property are all criteria that will allow you to know if you are eligible for such credit.
The Social Accession Loan (PAS)
This credit is granted for low- and middle-income households wishing to acquire a new or old property as their principal residence. Unlike the PTZ, it generates interest and can finance the entire cost of your real estate project. Again, this credit will be granted under certain conditions. Indeed, your income must not exceed a certain ceiling depending on the chosen place of residence. The repayment period of SSP can range from 5 to 25 years and this duration will determine the fixed or variable rate applied.
The real estate loan agreement
This credit can finance the purchase of a property new or old or work. It can finance the entire cost and is granted without means test. The repayment term for such a loan can range from 5 to 35 years. The rates for this loan agreement may be fixed or variable and depend on the income of the borrower. The main advantage of this credit is that it opens the right to Personalized Housing Assistance (APL). This APL will allow you to reduce the amount of monthly payments of your credit. The amount paid under APL is determined by the location of your residence and the number in your home. It can be granted without or with a personal contribution.
Home savings loan
This credit is primarily granted to people with a housing savings plan (PEL) that has reached its term of 4 years. This type of credit entitles you to a favorable rate and a state bonus. This bonus is capped at $ 1525. Namely, it’s the opening date of your home savings plan that will determine the rate and the amount of the premium you can claim. Generally, you must take out this loan from the bank that manages your home savings plan, but this is not an obligation. The maximum amount of such a loan is $ 92,000 and its maximum duration is 15 years. It is the interest you have earned during your savings that will determine the amount and duration.
This multitude of real estate loans makes complex the choice of the credit which you can subscribe to finance your real estate transaction. It is therefore necessary to consult an online real estate credit comparison to make your choice.