{"id":306958,"date":"2024-03-25T10:00:36","date_gmt":"2024-03-25T09:00:36","guid":{"rendered":"https:\/\/lagencerie.apercu.ovh\/blog\/buying-a-home-in-2024-a-complete-guide-to-assistance-programs-for-first-time-homebuyers\/"},"modified":"2024-03-25T10:00:36","modified_gmt":"2024-03-25T09:00:36","slug":"buying-a-home-in-2024-a-complete-guide-to-assistance-programs-for-first-time-homebuyers","status":"publish","type":"post","link":"https:\/\/www.lagencerie.fr\/en\/blog\/buying-a-home-in-2024-a-complete-guide-to-assistance-programs-for-first-time-homebuyers\/","title":{"rendered":"Buying a Home in 2024: A Complete Guide to Assistance Programs for First-Time Homebuyers"},"content":{"rendered":"

Are you thinking about buying your first home in 2024? But with mortgage rates at an all-time high and housing prices still on the rise, are you hesitating and looking to take advantage of the available financial assistance?<\/span> Recent revisions to assistance programs now allow more first-time homebuyers to benefit from them <\/b>to reduce <\/span>the costs associated with their home purchase<\/span><\/a>, whether it\u2019s a new or existing home.<\/span><\/p>\n

L’Agencerie<\/span><\/a> has put together a guide for you on all the assistance programs available to help you become a homeowner: from the revamped Zero-Interest Loan to little-known local assistance programs, including discounted home-purchase schemes\u2014you have all the options at your fingertips. Follow the guide!<\/span><\/p>\n

The Zero-Interest Loan in 2024: Major Changes<\/strong><\/h2>\n

The flagship program for first-time homebuyers, the Zero-Interest Loan (PTZ), is gaining momentum. With no fees or interest, it supplements the main loan and <\/span>significantly increase the down payment<\/b>. Its revised 2024 version, featuring significant changes, makes it more accessible and better suited to the specific needs of first-time homebuyers. Here are the key changes.<\/span><\/p>\n

Higher income limits<\/strong><\/h3>\n

Income limits have been raised, with <\/span>increases ranging from 14 to 38 percent depending on the bracket<\/span><\/i>. The goal? <\/span>To make a much wider range of households eligible<\/b> for the PTZ, particularly middle-class households with net monthly incomes ranging from \u20ac2,500 to \u20ac4,000. <\/span> <\/p>\n

A real lifeline for those on the tightest budgets! With nearly 6 million potential new beneficiaries, the revamped PTZ is designed to be an effective stepping stone to homeownership. <\/span><\/i><\/p>\n

Subsidized financing covering 50% of the real estate transaction amount<\/strong><\/h3>\n

Another key measure is that the portion of a real estate project eligible for financing through the PTZ will increase from 40% to 50% starting in 2024. In practical terms, for a purchase of \u20ac200,000, you\u2019ll be able to obtain up to \u20ac100,000 in PTZ financing, compared to \u20ac80,000 in the past. <\/span>This is a significant boost for saving up your down payment, especially since mortgage rates are still hovering around 4%<\/b>.<\/span><\/i><\/p>\n

This would provide significant relief to the budgets of low-income households and allow them to borrow the remainder at the standard rate with greater peace of mind.<\/span><\/p>\n

Refocusing the PTZ 2024 on new multi-unit housing located in high-demand areas<\/strong><\/h3>\n

New for 2024: New single-family homes are no longer eligible for the PTZ program! The program now targets new multi-family housing units located in the so-called high-demand zones A bis, A, and B1, where housing demand is highest. <\/span><\/p>\n

However, the PTZ remains available to finance older homes requiring renovations, though it is now limited to the less competitive B2 and C zones.<\/span><\/p>\n

Purchasing public housing made easier with an interest-free loan (PTZ) increased to 20%<\/strong><\/h3>\n

The latest major change: Social housing tenants looking to purchase their primary residence will be able to finance up to 20% of the purchase through the PTZ\u2014compared to just 10% previously. \u200b<\/span>A huge boost<\/span><\/i> toward independence and the joys of homeownership!<\/span><\/p>\n

Do you think you qualify as a first-time homebuyer? Check your eligibility for the new version of the PTZ right away! <\/b>The simulation tool below will give you an initial idea:<\/span><\/p>\n

PTZ Simulator 2024<\/span><\/a> (to be inserted as a popup\/iframe)<\/span><\/i><\/p>\n

Plan for your purchase with the PEL at 2.25%<\/strong><\/h2>\n

Another valuable tool for first-time homebuyers, the Home Savings Plan (PEL), will see its interest rate jump to <\/span>2.25% as of January 1, 2024<\/b>, up from 1% since 2016. This should <\/span>significantly boost your interest earnings<\/span><\/i> to build a solid nest egg before taking the plunge into homeownership.<\/span><\/p>\n

A quick reminder of how this regulated savings product works:<\/span><\/p>\n