Whether you want to obtain a personal loan or take out any other type of loan, official credit can be an advantageous solution. This is of course aimed at people with civil servant status, but not only. Here are some tips to benefit from it.
Civil servant credit: who can benefit from it?
A government-backed loan is a loan subsidized by the government, which protects lenders against defaults on payments, thus making it a lot easier for lenders to offer potential borrowers lower interest rates. Its primary aim is to make home ownership affordable to lower income households and first-time buyers.
As its name suggests, the official credit is intended for public officials (state, hospital, territorial), holders, trainees or contract workers, but also:
- their spouse, whether active or not;
- their descendants and ascendants, whether active or not;
- employees of public or private law in establishments or companies in the public sector
- to local, national or elected representatives.
What official credit to request?
The official credit includes several types of credits:
- personal loans (automobile, leisure, work), which finance the purchase of a vehicle from a boat, or the renovation of one’s house, for an amount of $ 3,000 to $ 20,000;
- the mortgage, intended to finance the purchase of housing;
- revolving credit which ensures that the borrower has credit to use according to his wishes and which can be replenished. It allows you to borrow up to $ 3,000;
- the repurchase of credits which combines several credits into one to ensure the borrower to obtain lower monthly payments; – the “loan to civil servants” which can be granted in addition to a real estate loan (agreement or social accession) subject to means.
Official credit: who to contact?
To choose the most advantageous official loan, you should compare the different offers, for example by visiting the websites:
Simulations are offered. Be careful to compare also with classic offers which can sometimes prove to be more advantageous. It is recommended to turn to your mutual insurance company: it can itself offer credits reserved for civil servants or advise and guide its members. For the “loan to civil servants”, it is from his employer that the agent can obtain information.