A zero interest loan is a very interesting type of loan since you only repay the borrowed capital. But to benefit from it, you have to respect a number of conditions that we will detail in this special issue. So you can easily apply for a zero rate loan and get the funds quickly to realize your project!
The conditions for obtaining a zero interest loan
A loan with a zero rate is repayable over a period between 3 years and 25 years maximum. To obtain this credit with such an attractive rate, you must meet many conditions while making sure that your project complies with the provisions of the zero interest loan.
A. Projects eligible for the zero interest loan
One of the main points to get a zero interest loan is to have a project that is itself eligible. These are specified by several articles of law presented in the code of housing construction. Because if the loan at zero rate is possible, it is thanks to the help of the French state that supports the interests with banks that have concluded an agreement with it. In order for your project to be valid, it must be for the purchase or construction of your future principal residence. In addition, if you buy an old home, it will be imperative that it is located in rural areas and that major renovations are necessary. If you have decided to build your future home, you can also include in the financing of your project the purchase of the building land.
B. The conditions of resources
In order to apply for a zero rate loan you must meet a number of conditions in your personal situation and your income. There are ceilings that depend on both the number of people in your household, but also the area of your future home. These areas are defined by the decree of September 30, 2014 which allows to classify your place of housing according to the tension of the local real estate market. The goal is to adapt the criteria required to the situation to allow you to still borrow when the market is tense; this is particularly the case of the island of France or the entire Côte d’Azur.
C. How to get a zero rate credit
To obtain a zero rate credit , you must first verify that you are eligible and that your project is also eligible. To make the request, you will have to turn to one of the twenty banks that have signed an agreement on this subject with the French State. During the constitution of your file, you will have to particular inform your personal situation (identity, resources) while providing the supporting documents (identity card, family record book, payslip). You will also need to specify your request with all the elements concerning your real estate project (new, old, land, construction zone). Finally, you will also have to provide the necessary supporting documents to ensure that this project aims to acquire your principal residence (rent receipts for the last two years or certificate of accommodation for free).
The conditions for obtaining a zero-rated ecological credit
Eco-loan at zero rate is another form of credit with a zero interest rate of up to 30,000 €. In order to guide you, here are the different conditions to fulfill to obtain a zero rate eco loan.
A. The work involved in the zero interest eco-loan
To obtain a zero-rated eco-credit (eco PTZ), it is imperative that your renovation project for your home concerns either: