The 1% housing loan
1% housing loan (or employer loan) – An employee can apply to his employer for the purpose of purchasing his main residence or possibly having work carried out on it. This loan therefore does not work for rental investment.
This very advantageous loan is distributed without means test but be careful however, tariff increases can be applied according to your financial capacities.
The 1% housing loan can make you realize significant savings
This type of assisted loan certainly has many financial advantages and has the ability to really help depending on the situation. However, his subscription condition is very specific and there are many conditions to be complied with. So ask your expert for help in your choice and find the most advantageous loan, according to your profile.
What exactly is a 1% housing loan?
The 1% housing loan is actually regulated at a rate of 1.50%. It is a loan considered today as a personal contribution that can be combined with all of the regulated loans. In general, the loan is equivalent to a sum between $ 6,400 and $ 17,600 (the main determining criterion is the geographic location of the purchase).
Depending on the collecting cases, notary fees can be covered. It is an advantageous loan but however very regulated according to the collecting cases (more particularly within the framework of a real estate in the old without work).
Important to know
The loaned amounts rarely reach the ceilings (it would be necessary in this case two to make this request near your companies). In addition, it often happens that the repayment tenure is too short and that you are then obliged to find suitable additional financing.
Note that this loan does not concern all companies but only “industrial or commercial companies employing at least ten employees”. If the name of loan 1% housing was given is that originally this aid represented about 1% of the wage bill, for a sum equal to 0.45% of the wages paid in favor of the housing of employees.
Do not hesitate to obtain the maximum information from your company as well as to be accompanied throughout this process by Lite Lender, expert in real estate loan.
TO REMEMBER !
- Ask your company if the 1% housing loan is feasible
- The amount of your loan will depend on the collection fund
- The 1% housing loan saves you money