Considering taking out a home loan is an important act. To avoid being refused by your banker, you must take stock of your situation and your profile. Here is a list of questions you need to ask yourself.
To put the odds on your side and obtain the agreement of your bank for your mortgage, you must show your reliability. Already in relation to your professional situation, it is always preferable to have an open-ended contract, allowing the bank to be reassured about your repayment capacities. Likewise, your debt ratio must not go beyond 33%, otherwise it will be difficult to obtain the loan.
The question of personal contribution is also very important. This is your financial contribution as part of this real estate project. Be aware that the bank does not finance the entirety of the latter. There are charges that you have to pay yourself. This contribution can come from subsidized loans or personal savings. It also shows the financial institution that you are someone who can save and who knows how to manage their finances properly. Finally, show your bank a healthy financial situation by proving that you have not accumulated overdrafts in recent years. You must show good solidity with respect to your budget.
You have the choice between three types of rates. The most classic and safest is represented by the fixed rate. This is the choice to adopt if you want to know where you are stepping. The monthly payments remain the same throughout the loan with this one. Another possibility:the variable rate which can increase or decrease during the duration of the credit. It is a risky offer, because if the increase is significant, you will have to pay dearly for your loan every month. But if you're a gambler and don't want to take too many risks, opt for the capped variable rate, the rise in which is set beforehand by a ceiling.
Before signing, you should pay close attention to various details of your loan. In principle, the bank must give you a pre-contractual information sheet which includes a lot of information including the nature of the credit, the interest rate, the cost, the duration, the insurance, the administration fees or the deadlines. reimbursement. The sheet also mentions the Global Effective Annualized Rate which offers an overview of the total cost of the loan since it includes the nominal rate, the cost of insurance and all kinds of fees.
The answer is yes. And besides, you have to prepare for it when you subscribe. Among the additional costs are those dedicated to the agency which are equivalent to 5 to 10% of the cost of the operation. There are also notary fees which are worth on average 8% of the price of the house to be acquired.
