Real estate loan for disabled worker

Getting a mortgage when you have a disability requires removing several obstacles. Here is a complete file on the assistance to the accession brought to the handicapped people and invaluable councils to enable them to become an owner of their housing or to finance works of accessibility. 

Aid for accession

bank

The state and local authorities can facilitate the acquisition of property for those eligible for the various types of aid. They most often take the form of subsidized home loans, but also of subsidies or discounts on the purchase price of housing. They make up for the absence or insufficiency of capital since they are taken into account in the calculation of the personal contribution.

The PTZ

If you buy a new home to make it your main residence and if you meet a certain income ceiling, you are entitled to the loan at zero rates. The maximum amount depends both on the number of people in the household and the geographic area where the accommodation is located.
Important: beneficiaries of the AAH or the AEEH do not have to meet the condition of first-time access to benefit from the PTZ. 

Local aid

In addition to the PTZ distributed by the State, certain local authorities seek to encourage the installation of new inhabitants and grant financial aid.
To find out if your municipality is part of it, ask the housing services of your town hall.

The Action Logement loan

money

Reserved for private-sector employees working in companies with more than 10 people, the Housing Action loan is not systematically granted. Indeed, the CIL (1) or the entrepreneur can decide to devote the entire financial envelope to the social rental sector. On the other hand, it is possible that by the time you plan to submit your request, this envelope will be exhausted.
To find out your available envelope, contact your employer or the CIL, which manages your company’s funds.
(1): Interprofessional Housing Committee

The APL for owners

Please note that personalized housing assistance is not limited to tenants only. If you plan to acquire your main residence, you can benefit from the owner’s APL allocated by the family allowance fund, on the double condition:

  1. To respect a certain ceiling of resources.
  2. To be eligible for the social accession loan.

Remember to make a simulation on the CAF website or go to the cashier in your sector. 

Exemptions for AAH beneficiaries

Exemptions for AAH beneficiaries

On the housing tax

You benefit from a total exemption from housing tax if you meet the following conditions:

  • You occupy the accommodation as your principal residence.
  • You benefit from AAH ( disabled adult allowance )
  • Your reference tax income does not exceed the amount provided for by the General Tax Code.

Note: you must make your request to the tax center before December 31 of the current year to benefit from the exemption the following year.

On the property tax

To be exempt from property tax, you must:

  • Benefit from AAH
  • Do not exceed the ceiling provided for by the General Tax Code.

Aid to finance accessibility and adaptation works

Since 2007, new housing and renovated old buildings must be accessible to people with disabilities. These rules mainly concern access to the building, all common areas (passage of a wheelchair) and parking spaces. On the other hand, the State offers various aids to facilitate the financing of accessibility works. 

Development work in a condominium

Co-owners with disabilities who wish to carry out accessibility work in the common areas must submit an authorization request to their syndic. The latter will put the question on the agenda of the next general meeting.
Namely: the ANAH (National Housing Agency) finances up to 70% of the development work supported by the condominium, up to a limit of $ 15,000.

VAT reduced to 5.5%

Article 279 bis of the General Tax Code grants reduced rate VAT on all work carried out on a building over 2 years old, aimed at transforming or improving the access of housing to people with reduced mobility.

Tax credit

A 25% tax credit is granted on special equipment. It is calculated on the basis of an expenditure ceiling of $ 5,000 for a single person and $ 10,000 for two people, plus $ 400 per dependent child.
Note: the aid received to install or replace the special equipment is deducted from the tax credit calculation base.
Important: If the following transaction has a negative balance, the tax center reimburses it by check.
Tax payable – tax credit

PCH

The disability compensation service reimburses all or part of the various costs borne by the disabled person to adapt their accommodation. It is the departmental home for the disabled ( MDPH ) which decides the amount depending on the applicant’s financial situation.

The Housing Action grant

The former 1% employer, now Action Logement, offers subsidized loans to finance the realization of accessibility works on the main residence, within the limit of a double ceiling:

  1. 50% of the expense
  2. $ 16,000

Namely: the agreement is subject to the opinion of the MDPH

ANAH grants

The National Housing Agency offers grants to finance development work intended to make housing accessible to people with disabilities up to 70% of the amount of the work up to a limit of $ 8,000.

Insuring a loan against aggravated health risks

Refusals, increases, and exclusions: a lot of many policyholders

People with disabilities face major difficulties in securing their mortgage. Depending on the degree of invalidity, insurance companies’ proposals systematically include exclusions or significant price increases (which policyholders are often forced to accept) when they do not simply mean a refusal.

Some associations such as the FNATH ( Association of accident victims of life ) have signed an agreement with an insurer and allow coverage in death and sometimes in PTIA (total and irreversible loss of autonomy).
Depending on the requirements of the lender, these guarantees may prove to be insufficient. People who have a serious illness or a severe handicap must then fill the lack of guarantees and start a long obstacle course.

The AERAS convention

For borrowers who suffer from aggravated health risk, the AERAS agreement provides for 3 levels of intervention:

  1. Standard risk analysis by the bank’s insurer or by external delegation, depending on the borrower’s choice.
  2. If the insurance company refuses the file, a new study by a specialized service, second level.
  3. In the event of further refusal, return to the third level of analysis, as long as the amount of the loan does not exceed 320,000 dollars and the insured does not exceed 70 years at the end of the loan.

If at this stage no solution is found, the bank has the obligation to seek alternative solutions allowing to replace the borrower insurance contract by another guarantee.
Good to know: if your income does not exceed a certain amount fixed by decree, you benefit from a mechanism that makes it possible to limit any rate increases in the insurance contract to 1.4 points of the TEG. Articles that should interest you

  • My loan is refused for reasons related to my health
  • What you need to know to succeed in your real estate project
  • What type of loan to carry out the work on his main residence?

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