Among the different types of mortgage, there is a category called “home help”. These are regulated loans, accessible only under certain conditions, and allowing borrowers to back state aid to their credit. The best known (and most used) of these loans is undoubtedly the zero rate loan, or PTZ. Here’s how it works.
What is the zero rate loan?
Get credit without paying interest on it? This is essentially what the zero rate loan offers – at least to some extent. Because it is not a complete loan: technically, the PTZ is only used to finance part of the acquisition or construction of a home, and must be supplemented by another loan, conventional or not (conventional loan, loan for social accession, loan approved, etc.), as well as by a personal contribution. However, the amount concerned, it will be indeed free of interest to be reimbursed, these being borne by the State.
We commonly speak of “PTZ” or “PTZ +”. There are no differences between the two names: the name PTZ + was simply given to zero-rate credit by the State when its new formula was implemented in 2011 (we also spoke of “loan to rate 0 reinforced ”).
However, the PTZ evolves from year to year. Resource ceilings, accessible amounts and eligible operations tend to change according to government decisions. So the PTZ 2016 is not exactly identical to its 2015 version, nor this one to its 2014 version, etc.
Generally, however, these are small changes. For example, the transition from the 2017 zero-rate loan resulted in only a minor change (in this case, taking into account the acquisition “as the first property of real property rights in a principal residence in as part of a real joint lease ”, according to the amending finance law adopted in December 2016).
In which cases can you benefit from zero rate credit?
To be able to benefit from the loan at zero rate, you must meet a number of conditions:
- Buy a main residence, and have not owned your home in the past two years (unless you have a disability card, you receive the disabled adult allowance, or your home has been destroyed by a natural disaster noted by prefectural decree). Note that the accommodation must meet the standards of “low energy consumption” (BBC 2005 or RT 2012 label).
- Acquire a home in the new, and more rarely in the old (in which case, the necessary work must assimilate it fiscally to a new home, or that they represent a quarter of the total cost of the acquisition);
- Do not rent out the accommodation for 6 years after obtaining the PTZ, with exceptions.
Also note that the rate 0 home loan is only accessible under certain means conditions. These depend on the living area and the number of people who must occupy the accommodation. Thus, the maximum resources of the tax household must be:
- From $ 37,000 to $ 118,400 for accommodation located in zone A (from 1 to 8 people or more);
- From $ 30,000 to $ 96,000 in zone B1;
- From $ 27,000 to $ 86,400 in zone B2;
- From $ 24,000 to $ 76,800 in zone C.
Knowing that the reference year taken into account for the calculation of the loan at zero rate is “n-2”, that is to say the penultimate year before the request for mortgage.
(These ceilings are those of the PTZ version 2017.)
How much can you borrow with a PTZ?
The amounts attached to the 0-rate loan also depend on the geographic location of the targeted property and the number of people who will occupy it. Here are the maximums for the most recent PTZ, for two occupants:
- $ 84,000 in zone A;
- $ 75,600 in zone B1;
- $ 61,600 in zone B2;
- $ 56,000 in zone C.
It should also be taken into account that the zero rate loan is capped at 40% of the total cost of the property.
Finally, be aware that the repayment tenure depends on your income and the area (again). High incomes are backed by a reduced repayment period, and vice versa. It generally extends over 20 to 25 years and comprises two stages: a deferred phase (during which the zero rate loan is not reimbursed) and an effective repayment phase.