The purchase of a property is very expensive and many people do not manage to realize their dream of becoming a homeowner. The zero-interest loan is a bank loan created in 1995 in France which aims to support buyers under certain conditions. How does it work and how to benefit from it?
Which bank for the zero-interest loan ?
The zero-interest loan is a credit entirely financed by the State. To benefit from it, you must therefore approach approved organizations or banks. You can find the list of these institutions on the SGFGAS website. They are among others :
- Banque Populaire
- Société Générale
- Crédit Agricole
- BNP Paribas
- Société de Banque et d’Expansion
- Crédit Maritime d’Outre-Mer
- Crédit Foncier de France
- BCP Bank
Choose the institution closest to you and apply online or in person. Once the loan is obtained, you can finance all or part of the real estate purchase.
How is the interest-free loan calculated?
The amount of the zero-interest loan corresponds to a percentage of the total price of the transaction you wish to make. For the purchase of a new home in zones A and B1, this percentage is 40% while in zones B2 and C, it is 20%. If you wish to buy an old property and renovate it, only zones B2 and C are concerned and then the percentage is 40%.
For a resale of a HLM, the quota is 10% regardless of the zone. Suppose that a couple in zone A wishes to buy a new property for 210 000 euros. To determine the zero rate loan, you must do the following operation: 210 000 x 40% = 84 000 euros. You can determine the amount of your zero-interest loan on certain dedicated sites such as the anil.
What are the conditions to benefit from a zero-interest loan?
The first condition to benefit from a zero-interest loan is to be a first-time buyer. This means that you must not have owned a primary residence in the two years preceding your purchase. It is necessary to respect the ceiling of resources according to your geographical zone and the number of people living under your roof. It is about :
- 51,800 euros for two people living in zone A or A bis
- 62,900 euros for three people living in zone A or A bis
- 60,000 euros for four people living in zone B1
In addition to respecting the ceiling of the operation, you must also buy an old house. This one must require a significant renovation for its refurbishment.
When do you start paying back the zero-interest loan?
The payment of your zero-interest loan is done in two stages. Indeed, a deferred period during which you do not repay is granted to you. This period ranges from 5 to 15 years depending on several factors. The repayment period varies between 10 and 15 years. This means that you have a 20 to 25 year window from the time you take out the loan. To find out the repayment range, divide your income by your family coefficient. With the result obtained, go to the site of the central financing to consult the table of acquittal.