What Are The Different Types Of Loans? – Houston Home Loans


Depending on your needs and your requirements, you have the choice to subscribe several types of home loans in Houston:

It is accessible for the purchase of a new or old property, with or without work, for improvement work in a property of more than 10 years or work intended to reduce energy expenditure in existing dwellings. 07/01/1981. The dwelling must be the principal residence of the borrower, or that of his ascendants, descendants or spouse or the ascendants and descendants of his spouse. Financing at 100% of the cost of the operation is made possible, including real estate agency fees and appraisal fees, made compulsory for property over 20 years. This expertise will confirm the conformity of housing with the living standards defined by Decree or designate the work to be financed for its compliance. Mortgage guarantee fees are reduced and the application fees are capped at 500 €.

SAP entitles you to Personalized Housing Assistance (APL). It is also guaranteed by the Guarantee Fund for Social Accession (FGAS) which allows the intervention of a mediator in case of default of the borrower.

Warning: The SSP does not finance the notary fees and it is granted to you only for the acquisition of a principal residence. Except in special cases, the rental of the house, after its occupation, will require you to buy this home loans in Houston by a conventional loan.

Our opinion: Accession to the PAS loan requires an expertise of the situation for each borrower. It’s a specialist business.

Our advice: Use an In & Fi Credits Advisor who can claim your rights to this loan.

Conventional Loan (PC)

The home loans in Houston agreement allows the financing of 100% of the cost of the operation, including real estate agency fees and the cost of the work planned or made compulsory by an expert, when it comes to compliance with a home of more than 20 years.

The dwelling must be the principal residence of the borrower, or that of his ascendants, descendants or spouse or the ascendants and descendants of his spouse.

It must be occupied for a minimum of 8 months a year for the duration of the repayment of the home loans in Houston, except professional obligation, reason of health or case of force majeure.

The borrower can rent his housing financed with a PC temporarily:

for a maximum of 6 years from the date of completion of the work when he buys or has built in perspective of his retirement, his return from abroad or DOM-TOM. In this case, the borrower declares it to the lending institution.

upon simple declaration to the lending institution, when he can no longer direct the dwelling to his principal residence and to the LPA paying agency in case of benefit of the aid.

In all cases, the lease must comply with the conditions provided by the law of 6/07/1989 amended. The beneficiary of a PC can also buy or build a new home to rent: the housing will be the main residence of the tenant.

The borrower can:

enter into an agreement with the State that regulates the conditions of the lease and in this case, its tenant is entitled to the APL, if the PC finances operations involving the acquisition of existing housing, only this option is possible;

rent in common law conditions. In this case, the initial rent is free, the tenant is not entitled to the APL but possibly to the housing allowance.

During the repayment period of the contracted loan, the unit may not be converted into commercial premises, nor assigned to seasonal rentals or furnished rentals for more than four months per year, nor used as a second home, nor used as a vacation home. accessory to a contract of employment.

With reduced warranty fees, it also opens right up to APLs. No income standards are imposed. The PC may also be suitable for the acquisition of a rental residence as well as the financing of SCIs and the surety bond.

To note: For the housing put in hiring, the APL of the tenant can be paid to you directly, the complement of the rent remaining to the load of the tenant. In this case, a rent ceiling regulated by decree will apply.

Loan at 0% rate Ministry of Housing (PTZ)

Its main advantage is of course in its rate but also in its repayment formulas, especially for low income. Considered as a personal contribution, it is a loan that concerns both new and old with or without work. It is also possible to link it with all regulated loans.

Essential: You must not have owned your principal residence in the last 2 years. Your taxable income must be in accordance with the limits of resources. It is also imperative to have a registered tax notice for the persons destined to live in the dwelling.

Our opinion: Reserved for the principal residence, it is an essential loan. However, the standards and supporting documents required require an assessment of your situation. Call an In & Fi Credit Advisor who can define your rights.

The ECO PTZ loan

This measure, put in place on January 1, 2009, concerns the improvement of energy expenditure. It offers the possibility to borrow up to € 30,000 for less than 10 years for the financing of works involving at least two improvements from a list defined by decree.

Loan 1% housing

Its rate is regulated at 1.50%. This is a loan considered as a personal contribution. Some collectors agree to finance notary fees. The amounts loaned generally range between € 6400 and € 17,600, depending on the geographic location of purchase. It can be coupled with all regulated loans.

It has the disadvantage of being highly regulated according to the collector boxes, especially for the old without work. In addition, loan amounts rarely reach the limits, unless you are two to apply for them in your respective companies. In addition, according to the caisses, the 1% housing loan is repayable over a period that is sometimes too short. In this case, it will be necessary to find a complementary financing adapted with the option “smoothing”.

Our advice: Get reliable information from your company because the files are processed when the complementary loan is granted. All it takes is incorrect information to have to reissue the offer of the complementary loan, sometimes only a few days before the notary’s signature.

Our advice: Use an In & Fi Credits advisor who will guide you.

Free loan

Compatible with all real estate transactions, this is the most common. It is open to all and without regulatory constraints. It allows you to benefit from all the technical options: modulation, mixing, smoothing, franchise, bank guarantee. He is also eligible for housing allowance.

The regulated loan

Ideal for a first purchase, this loan gives entitlement to state aid: PTZ Department of Housing or City of Paris, reduced warranty fees, APL. It can be secured to deal with unforeseen events such as unemployment, job mobility, or family events. Some remain exclusive to the purchase of a principal residence.

Relay or Resale Loan

Between the time you buy a new home and the time your previous home is actually sold, it can take several months. The loan Relay intervenes to allow you to realize your acquisition without waiting.

It can cover notary fees, and settle the outstanding amount of property for sale or a personal loan. Practiced over 12 or 24 months maximum, its rate is usually very low. In addition, you do not have to advance the interest because they will be deducted from the fruit of your resale.

Tip: The secret of Relay is to sell at the right price. Analyze well the local market and give you the best chances by knowing how to put forward all the assets of your good.

Our advice: The multitude of relay products offered requires an expertise of your situation. Use an In & Fi Credits advisor who will offer you a tailor-made solution.

In Fine Loan

Reserved primarily for highly taxed investors, this type of loan primarily concerns the financing of a purchase intended for renting.

The monthly payment does not amortize the loan, it only charges interest. Depreciation is provided by an investment product provided for this purpose, existing or to be subscribed. It can be Life Insurance or another investment product. When this investment, plus remunerative interest, represents the capital borrowed, the bank repays itself in one installment.

Advantage: If the billing of interest is higher than for a conventional loan, it allows to reduce effectively the property profit by declaring more interest paid during the year and thus reducing the taxation.

Disadvantage: You need a starting capital that will remain locked until the loan is repaid. In addition, the duration of the loan is uncertain because it depends on the performance of the investment allowing the balance.

Classic loan or In Fine? Our specialists have means of comparison and can advise you the best solution.

The mortgag

The principle is simple: You give in guarantee the good which you possess, in exchange for a sum intended for any use: purchase of a housing abroad, repayments of debts, family help …

Very useful in solving a large number of financial needs, this loan rarely exceeds 60% of the value of your property. In addition, the mortgage must be exclusive to the lender.

Important: Mortgage interest rates are higher than rates prevailing in the traditional real estate market. On the other hand, this type of loan is very flexible to use.

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