When you want to buy a house or an apartment, you often have to go through a mortgage. How do you know if you can qualify for this type of loan, based on your financial and personal situation?
What are the expectations of banking establishments in terms of mortgage?
The bank is the lender par excellence, when we speak of a mortgage. When it grants a sum of money, substantial or not, it requests in return interest which runs over the entire duration of the reimbursement.
To obtain a real estate loan, you must therefore prove that you are solvent. It is imperative to prove that we will be able to repay all the monthly payments of a loan.
For this, the bank is interested in the applicant’s income. It is not necessary to have very high incomes as long as the financial situation is stable. A CDI type contract is necessarily appreciated.
Perform a simulation on the Internet:
To find out if you can take out a home loan, there are simulators on the internet. You can find them for all types of credits; whether real estate or consumption. Thus, all banking establishments make them available to customers, as well as credit companies. It’s a quick and easy way to find out if, potentially, the request is workable.
Since the offers are not identical from one bank to another, a comparison can be made beforehand. You will know the rate charged by each of them. This rate, in terms of your financial possibilities and your real estate project, can considerably change the situation. It is for this reason that it is necessary, sometimes, to compete, to find an attractive rate.
Go through the help of a real estate broker, a solution to have the best credit:
If you think that a little help would not be superfluous, to help you find the best mortgage offer, you can turn to an expert in this field: the mortgage broker. More and more people trust him to find the bank with which they can negotiate a mortgage suitable for their needs.
If you are unsure as to the feasibility of your request, the broker will quickly tell you what it is. For this, he will take all of your income, your fixed costs and ask you about your family composition.
Knowing how many people live at home helps them calculate what is called the rest of the living. It will also ask you if you have outstanding loans, which may affect the response the bank can give you.
If, following this examination of your finances, the broker thinks that your file is completely admissible, ask him to refer you to the most suitable bank. Better rate, longer repayment period, possibility of negotiating certain clauses of the loan contract: many criteria come into play to find the right mortgage.