Mortgage: a reduced rate for the middle class? | Real Estate by SeLoger

The Primary Housing Loan Support Program (PTZ) will not remain unchanged in 2024, as rising interest rates have forced the government to relax loan eligibility conditions.

The

PTZ comes with no interest rate and is designed for low-income families and can be taken out for 10, 22 or 25 years, with repayment deferred for 5, 10 or 15 years.

PTZ, just like the future program to support interest-free loans (PTB), is not intended to finance 100% of the purchase price''s home, but allows it to supplement a conventional mortgage loan at market rates and serves as a deposit for banks, which typically require 10% of the total value of the home as a pledge of seriousness.

First, the PTZ will be extended through 2027. And while new homes will no longer qualify for the loan, the percentage of the project that can be financed will increase from the current 40% to 50% from 2024.

The income limits that must not be exceeded to qualify for the loan will increase significantly, which will also allow the middle class to benefit from the program.