The public services have deployed a few devices to enable low-income households to become owners. Among them is the social accession loan (PAS) which, like the loan under the agreement, makes it possible to reach the APL to facilitate the repayment of the loan. Presentation of the PAS, its beneficiaries and the amount they can claim.
What is the social accession loan?
Available from banks and financial institutions that have signed the agreement with the State, the Social Accession Loan (PAS) is used to acquire a main residence. It can result in the purchase of an apartment or a house, in the new or the old one, but also by the construction of housing or the realization of works of improvement or energy saving of a minimum amount of $ 4,000.
Beyond a few reductions in ancillary costs (application fees limited to $ 500, exemption from land advertising tax, reduced notary fees), the main feature of the PAS is to allow the subscriber to benefit from the APL, at the most along with the repayment of this loan.
This allowance is systematically paid directly to the bank with which the recipient contracted the loan. It is deducted from the amount of the monthly payment of the loan taken by the bank.
Its amount depends on the resources of the borrower. Its calculation method is complex and the ideal will be to use CAF’s online simulators.Naturally, all these advantages imply a counterpart: the PAS is subject to means conditions…
Who can claim it?
As its name suggests, the PAS is intended to promote homeownership for people with modest incomes. The threshold not to be exceeded is fixed according to the tax reference income, the location and the composition of the family.
The geographic influence is based on the breakdown initiated by the rental investment system known as “Robien” (revised since in 2006, 2009 and 2014): A, B1, B2 and C covering the zones according to their tension in the local real estate market.
Thus a family of 4 wishing to benefit from the PAS cannot have resources greater than $ 48,000 in zone C (Guingamp), $ 54,000 in zone B2 (Pornic), $ 60,000 in zone B1 (Bordeaux ) and $ 74,000 in zone A (Paris).
How much of the funding can it cover?
Like the loan under the agreement, the PAS can cover all of the financings, with the exception of notary fees.
In April 2017, the reference interest rate for this loan was 0.95%. On this basis, it is then necessary to add the margin of banking establishments within the limit of these percentages: 3.25% for loans with variable or fixed rate less than or equal to 12 years, 3.45% for a PAS of 12 to 15 years, 3.60% between 16 and 20 years and 3.70% for a loan of more than 20 years.
With historically low fixed rates, the interest of the borrower to seek this type of financing lies in the comparison of the total costs of the respective credits while not omitting the possibility for the borrower beneficiary of the PAS to see his total cost of the credit reduced. thanks to the benefit of the APL.
Finally, it can also be supplemented by other advantageous devices: the PTZ +, the PEL / CEL, the Action Logement loan, the eco-PTZ under certain conditions, etc. On the other hand, the PAS cannot be associated with a conventional mortgage.
Note that the accumulation of several loans (PAS, PTZ … or even consumption) should encourage the borrower to consider smoothing the different monthly payments he supports. It is common sense in this configuration to use a courier to carry out this credit restructuring operation.