Zero-rate loan (PTZ)
A state-subsidized, interest-free loan reserved for first-time buyers within income limits to fund part of their main home. Its amount, eligible zones and deferral period depend on the current scale. Always paired with a main loan, it lowers overall cost and strengthens the borrower's contribution.
Key points
- Reserved for first-time buyers who meet the means test set by the annual scale.
- Always paired with a main loan; never covers 100% of the transaction alone.
- A deferred repayment period eases the first years of combined loan repayment.
- The property's geographic zone determines the eligible amount and financed share.
Frequently asked questions
How does the PTZ fit into a financing plan?
The PTZ supplements a main loan by reducing the interest-bearing capital, thereby cutting overall cost. The broker typically integrates it into a smoothed structure so that the total monthly payment stays flat despite the differing terms of the two loans.
What mistakes should be avoided when structuring a PTZ file?
The most common mistake is failing to check the zone and income thresholds in force on the date the offer is issued, not when the sale agreement is signed. An incorrect zone can shift the eligible amount and unbalance the whole financing plan.
What is the difference between a PTZ and an agreement loan?
The PTZ bears no interest and covers only part of the purchase; it is income-capped and limited to first-time buyers. The agreement loan carries an interest rate (capped), is not restricted to first-time buyers, and can in principle cover the full purchase price.
In practice
On a €220,000 purchase in zone B1, an eligible borrower might obtain a €88,000 interest-free PTZ alongside a €132,000 main loan, lowering the blended APRC of the structure by several dozen basis points compared with full bank financing.
Official sources
- Zero-rate loan (PTZ) · Service-Public.gouv.fr
- Obtaining a mortgage loan · Service-Public.gouv.fr
- Mortgage credit (official guide) · Service-Public.gouv.fr