5 steps are enough to prepare and obtain a mortgage, from the search for real estate to obtaining the offer of credit agreement, here are tips and tricks to know imperatively to succeed in his project.
1 / Know your borrowing capacity
The first and most obvious step is to know how much you can borrow for a real estate project with its current financial situation, with its net income, whether you have loans in the process of repayment or not. For that, it is enough to calculate the amount of its maximum monthly payment, it corresponds to 33% of the income (threshold of the indebtedness) but in the case where monthly payments are already in repayment, it will be necessary to envisage to withdraw them to obtain the exact amount that can be spent on the repayment of a home loan.
2 / Target the real estate
Knowing its ability to borrow, we can target the property to buy, namely a house or apartment and start negotiations because once the agreement of the bank is effective, it is possible to block the purchase of the house and so to be a priority, as much to have the contacts to be able to save time in the steps. It is possible to find real estate by going to the notaries or through real estate agencies, see the classifieds sites.
3 / Clean up your bank accounts
Having bank accounts and without any presence of irregularities (unpaid, late payments …) is a safe bet for banks, it is the guarantee of having a healthy borrower and especially who knows how to manage his bank accounts. It also makes it possible to negotiate loan terms, especially when there is a personal contribution to add to the financing. Wait a few months that everything is clean and then contact the bank, it’s a trick that works.
4 / Compare offers with a credit comparator
Mortgage comparators have a simple operation, that of offering a borrower a canvass ultra fast by filling a single form. The form is simply adapted to take into account the needs of each bank and each financial institution, which then allows the borrower to receive several loan offers and choose the best one. This step is crucial because it allows to survey the establishments and to obtain in a few clicks an estimate of the rates practiced as well as the total cost of credit.
5 / Take the time to think
The time for reflection is important and for a credit contract offer, it is 10 calendar days . As of the 11th day, the borrower can return the signed loan offer to the lender. This period is very important because in the context of a mortgage, it is often a large debt, spread over a long period, on average between 20 and 25 years. We must therefore be aware of the commitment made, on the one hand on the good that will be bought (be sure of its purchase and the good itself) and on the other hand on the credit subscribed, with the rate and the total cost of financing.