Are you a teacher and want to become an owner? Discover the specifics of real estate credit for this category of civil servants.
Teachers of National Education and contractors have the opportunity to benefit from tailor-made property credit offers and attractive financing conditions. Indeed, this type of profile is of great interest to banks. All the explanations.
The real estate loan for public servants: what is it?
The real estate loan for civil servants is intended for public servants, including teachers. It may be granted as part of a project to acquire a new or old property, with or without work to be done.
However, the housing loan for civil servants can not cover the total cost of housing. It must imperatively rely on a loan social accession (PAS) or a loan agreement. Its amount depends on the characteristics of the housing (number of rooms in particular) and its geographical location.
If the loan is subscribed to two and only one works in the public service, it may be interesting to contract two different credits in order to enjoy the benefits of the real estate loan and those of the 1% employer loan.
An advantageous loan insurance
The mortgage insurance is claimed by the bank when granting credit. This contract allows the lender to be assured of recovering the outstanding capital in the event of death, illness, disability or incapacity. This insurance is also necessary for the borrower who will not have to assume the repayment of the remaining monthly payments in these situations.
Thanks to his mutual insurance, the teacher can benefit from a lower rate for his credit insurance. Remember that there is no single rate for teachers, which vary from one mutual to another.
Mortgage loan: the privileged teachers
The surety insures the repayment of the bank in case of default of payment outside the cases covered by the borrower insurance. There are several bonding agencies dedicated to civil servants. The best known is DENAS, a cooperative public service bank that offers a no-cost guarantee. Previously reserved for teachers, this organization is now open to all professionals in the public service.
It should be noted that the bonding agreement is not systematic. Indeed, several elements can lead the organization to refuse this request: an excessive accumulation of debts, a debt ratio too high, a remainder to live insufficient, a topic stuck in the FICP or a non-existent personal contribution.
PTZ reserved for teachers deleted
In 2010, the government decided to eliminate the zero-rated loan (PTZ) reserved for teachers and implemented with Pontale Bank just under a year and a half after its launch. This announcement had led to the misunderstanding of the unions, who were demanding the introduction of an equivalent mechanism.