Obtaining a home loan is not always easy. If the profile of his interlocutor does not manage to reassure the bank, it is quite possible that he will reject his file, which very often happens when a candidate does not have a stable job.
To improve the quality of their file, borrowers often decide to take out a mortgage together, but when in the couple one is on CDD and the other on CDI, everything is not won. How to borrow under such conditions? Explanations.
When a borrower wishes to take out a mortgage with a bank or lending institution, his file will be carefully studied (see this guide). Indeed, banks naturally need to be certain that their interlocutor will be able to pay off their debt once they have received the capital they have requested. Thus, if the professional situation of the candidate is not stable enough in the eyes of the banks, there is a good chance that the file will be rejected. A professional situation is considered stable when there is little likelihood that its holder will find itself unemployed.
In general, these are jobs in the public service and employment contracts of indefinite duration or CDI. When lenders are faced with this type of borrower, they are therefore more inclined to grant real estate financing. On the other hand, borrowers who only have a fixed-term contract will have more difficulty convincing lenders. In such a case, the borrower holding a CDD can obtain the support of a spouse holding a CDI to improve his file.
It is not uncommon to see a couple with a CDD and a CDI looking for real estate financing. In general, the spouse holding a CDI is there to support the other in order to make their profile less risky in the eyes of the lending banks. This solution is effective insofar as borrowing together implies a higher level of income and therefore a low debt ratio allowing the bank to set up a risk-free mortgage. Borrowing with a spouse holding a permanent contract is also more reassuring for the bank, because the latter guarantees a stable source of income, even if the spouse on fixed-term contract loses his job.
However, the practice is that lending organizations only take into account the income of the spouse on a permanent contract when calculating the couple's debt ratio, even if the fixed-term contract is the highest income. Indeed, the bank will not be able to include it in its calculations since it is impossible to guarantee this professional situation over time. Only CDDs that can be assimilated to CDIs are likely to attract the attention of advisers, in particular, CDDs in the public service and CDDs in professions considered to be promising.
Insofar as the banks do not take into account in the calculation of the debt ratio the co-borrower in fixed-term contract, it is advisable not to mention it in the file, unless he exercises a buoyant profession or that it is a contractor in the public service. If this is not the case, it is better to borrow alone and take advantage of the many subsidized loans granted by the State. With a zero-rate loan, for example, the mortgage applicant has the possibility of borrowing a relatively large sum of money without having to pay interest. The capital obtained can then be used as a personal contribution to reduce the amount of the debt while providing a certain guarantee to the bank.
Borrowers able to make a contribution generally benefit from more advantageous conditions, particularly in terms of cost. To benefit from the offer at the best market rate, it is recommended to carry out a comparison between all the available proposals. This will make it easier to identify the most interesting offer. Such an approach is carried out via an online home loan comparator. The other solution is to wait for the co-borrower to sign a CDI in order to consolidate the loan file. Thus, the couple will be able to claim a larger loan and therefore a larger home.
