The conditions for obtaining a home loan for an employee are identical to other employees in the private sector. However, civil servants enjoy certain special advantages and can benefit from more attractive loan rates because of their status.
What are the benefits for public servants?
An advantageous guarantee
Civil servants or members of a public service mutual are interesting profiles for banks that have made them their target. This is why some banks, such as ABC Bank, have set up agreements with mutuals and public service banks such as Banque Française Mutualiste, in order to provide them with attractive benefits.
With regard to the guarantee fees, the mutual can provide security for an official so that the mortgage is avoided on a financed property, the costs of the guarantee will be lower. The mortgage guarantee can also be substituted by a bond for the partner banks; thus the cost of the guarantee is greatly reduced.
A lower mortgage rate
A type of “public real estate loan” exists for this typology of buyer, the conditions of obtaining are identical to the Loan Action Housing or 1% housing. The sums obtained when the funds are released are in addition to another loan agreement such as the loan PAS (social loan accession).
Preferred borrower insurance
The status of public servants also allows them to obtain other credit insurance benefits for the financing to be optimized. insurance expert, real estate loan broker, will help you to find all the advantages in order to have the best mortgage at the best price while negotiating a mortgage insurance cheaper. It is necessary in this case to go through a delegation of insurance from another lender.
What are the conditions for an official to obtain an Immo loan?
The conditions for obtaining a home loan when one is a civil servant are the same as for a classic home loan:
- The debt ratio
- The age of the borrower
- The nationality
- A work contract
- Your income
What type of funding can public servants access?
Public servants can access the same types of loans as all other borrowers:
- The purchase of a property or its construction
- The purchase of an old property that will improve
- Works that aim to expand housing
- A non-residential space that turns into housing
- Financing a principal residence
- Financing a second home
- Financing a rental residence
What are the amounts and duration of a loan taken out by an employee?
The amount of mortgage
In general, a home loan starts from 70 000 €. If your mortgage is less than this amount, it is better to choose a personal loan. The only limit on the amount of your mortgage will be your ability to repay it.
The duration of mortgage
All mortgage terms are possible: a 5-year loan as a 30-year loan, the average term is close to 20 to 25 years.