7. Subsidised Mortgages for French Residents

1. 7.1. Introduction
   7.2. Interest Free Mortgage
   7.3. Employer Loans
   7.4. Social Loans
   7.5. Paris Loans
   7.6. Home Purchase Savings Plans

7.5. Paris Loans

7.5.1. Purpose of Loan

The prêt Paris logement 0% is an interest free loan from the Paris City Council towards the purchase of a main residence in the city.

7.5.2. Maximum Amount of Loan

The maximum amount of the loan is €24,200 for a single person, and €39,600 for two or more persons. The repayment period is 15 years.

This loan can be used in conjunction with the national interest free mortgage, outlined above.

7.5.3. Eligible applicants

The following persons are eligible, on a means tested basis.

• Households who currently have their main home in the city, and have done so for at least a year at the time of their application, not having ownership of a property during at least the last three years;
• Disabled persons buying an adapted property. The requirement to have lived in Paris for the past year does not apply, although applicants must not previously have been a homeowner over the past three years.
• Police officers, firemen or those working in a hospital. Once again, there is no requirement to have had their main home in Paris for the past year, although applicants must not previously have been a homeowner over the past three years.

7.5.4. Income Thresholds

There are also upper income limits for eligibility, although these are quite generous.

For a one person household the income limit is €25,425, which increases to €35,871 for two persons, and upwards for larger households.

As is normally the case it is important to note that the definition of ‘income’ for the purposes of this loan is the revenue fiscal de reference on the income tax notice from the tax authority. This is your net income after deductions and allowances.

7.5.5. Application

Visit a bank, most of whom have signed a partnership agreement with the Council.