The interest-free loan or is a device to help households with modest incomes to buy their own home. This type of loan is granted under certain conditions of resources in order to access home ownership. It has been in place for a few years and beneficiaries can still benefit from it until now.
Interest-free loan: for what?
First of all, it is a loan granted by the government. Unlike other types of financing, the borrower will repay the amount borrowed without paying interest. The interest-free loan allows you to finance part of the purchase of a home or the construction of a principal residence. The device also makes it possible to finance the acquisition of an old dwelling whose cost of work represents 25% of the total amount of the operation. The interest-free loan is also used to finance the construction of a dwelling accompanied by the acquisition of the right to build or the land for the construction of the dwelling in question. In addition, it can also finance the development of premises not intended for residential use as housing. Finally, it can be used to finance the acquisition of social housing under certain conditions.
Who are the beneficiaries?
To obtain a zero-interest loan, you must first be a natural person. The loan is dedicated to first-time buyers, i.e. a person who has not owned a principal residence in the last two years. This condition is valid whether the house is an inheritance or a donation. Can also benefit from the enhanced interest-free loans any person who wants to buy his future principal residence in the eligible area, whether it is new or old. However, there are a few exceptions. According to the Code de la Construction et de l’Habitation, the enhanced interest-free loansis not only for first-time buyers. It is quite possible to benefit from this offer if the borrower is a holder of a 2nd or 3rd category disability card. Recipients of an allowance for the education of disabled children or an allowance for disabled adults can also access the enhanced interest-free loans. Finally, this type of loan is for victims of a disaster that has caused damage to the main residence, rendering it uninhabitable.
Criteria to be taken into account to obtain an enhanced interest-free loans. To obtain a zero-interest loan, several criteria must be met. The first concerns the characteristics of the property. It must be a new or old property with work representing 25% of the total cost of the entire operation. It is also possible to obtain the loan for an HLM housing. The second is the location of the property. It must be located in zone A, B1, B2 and C. Then, it is necessary to consider the income level of the person concerned, the size of his family and his personal contribution. Very important, the borrower must make sure that his resources do not exceed the threshold established by law.