The social accession loan (PAS) must be used to acquire the main residence which can be that of the borrower, his spouse or the ascendants and descendants. It is part of the aid put in place by the public authorities to help households access homeownership.
The social accession loan can finance the acquisition of new housing (detached house or apartment in a future state of completion) as well as annexes such as the garage. It can also be used to finance only the land.
Purchase of old housing
This subsidized loan can also be used to purchase an old housing with or without work. For accommodation over 20 years old, you must have an inventory drawn up by a professional. This type of credit, therefore, takes longer to set up. This is why we suggest that you start your research as soon as the sales agreement is signed.
Certain works may be financed by a loan for social accession such as.
- Upgrading to habitability standards
- Transformation of premises not intended for housing
- Energy saving
NOTE: the nature of the work that can be financed by a PAS loan is subject to a ministerial decree.
In a much rarer situation, the loan for social accession can be used to repay a progressive loan agreement.
The conditions for obtaining the social accession loan
Obtaining the social accession loan is subject to a resource ceiling (see table below).
Depending on the date or the purchaser makes his request, the account will be taken of the tax income of N-1 if the beneficiary has received his notice of taxation or of the tax income of N-2 if the beneficiary of the loan for social accession does didn’t receive it.
APL (personalized housing assistance)
The main advantage of the PAS loan is that it gives entitlement to the APL (Personalized housing assistance). However, this aid is subject to conditions.
The social accession loan allows the borrower or his spouse to benefit from a guarantee system in the event of unemployment. The operation is simple: in the event of unemployment, the monthly installments are deferred free for half for one year.
The formalities to be completed
You can only take out a social accession loan with a bank that has signed an agreement with the state, which is the case for most banks and credit institutions.
The functioning of the social accession loan
The social accession loan can finance the entire operation, excluding notary fees, and can be combined with other loans.
However, it must not be less than $ 4,500 for new buildings and $ 1,500 for work
The duration of repayment of a loan for social accession ranges from 5 to 30 years with a possible extension to 35 years maximum.
NO capped rates
Announced advantage of the loan for social accession, the interest rate is capped. In reality, this ceiling is higher than the rates practiced on the market at present. As with all loan offers, you have the choice between a fixed rate or a variable rate.
Reference rates are published quarterly.
Regarding variable rates, the maximum is set at 5.50% for mainland France and 6.15% in the French overseas departments and territories, whatever the duration of the social accession loan.