Created to facilitate access to property for low incomes , the Social Accession Loan.
Commonly known as the PAS loan, allows (mainly) beneficiaries to obtain Personal Housing Assistance (CLA), but not only.
Who can benefit
The PAS loan is reserved for households that do not exceed a certain income threshold. The calculation of this ceiling is done on the reference fiscal income of year N-2 of the project. You will find it on your corresponding tax notice.
For which project?
The loan PAS finances the acquisition in principal residence. Thus, it can finance the purchase of a new property or a construction, the purchase of an old housing, or even of work of improvement of the housing or saving of energy on the conditions that the works exceed 4000 €.
PAS loan characteristics
The maximum repayment term is 25 years. The contract may provide for an extension up to 35 years.
The PAS loan can finance up to 100% of the operation .
It is the bank that decides the applicable rate on each file, without being able to exceed a maximum rate, currently set at 3.25% for rates of 15 to 20 years, and 3.35% for loans over 20 years. .
The PAS loan is necessarily accompanied by a real guarantee , ie either a mortgage or a lender’s lien.
The benefits of the PAS loan
Reduced filing fees
The maximum application fee on a PAS loan is 500 €. (some banks have a higher fee schedule, so you’re limited to $ 500)
Right to APL
Surely the biggest advantage of a PAS loan, the latter gives you the right to APL . Feel free to do a simulation. Be careful however, LPAs are temporary and recalculated each year based on your income. We advise not to take them into account in your calculations and consider them as additional income.
Security in case of unemployment
The PAS loan finally gives the beneficiaries security if one of them is affected by unemployment. Indeed, in case of unemployment, 50% of the monthly payment can be postponed at the end of the loan, and therefore not settled immediately. This period can not exceed 12 consecutive months.