Low rates have convinced thousands of French to invest in stone. But facing the banker, how to obtain advantageous loan conditions?
Debt capacity, a determining point
Having a real estate acquisition project is not enough to embark on the adventure of homeownership. Because to set up such a project, besides the consultation of the real estate advertisements, it is necessary to pay particular attention to the conditions of future financing. In fact, the borrowing capacity of a household is one of the determining factors in the banking operation. This is a rate based on expenses and revenues. Thus, the bank advisers ensure that the ratio does not exceed 33%, that is to say, a third of revenues.
The employment contract of indefinite duration (CDI) can appear as a condition sine qua non of a mortgage. In practice, it is not mandatory but it is highly recommended. Professional stability can also be promoted through the status of the public official. Employee-type profiles are of particular interest to banks as this status provides additional security.
Professional stability is not everything since borrowers must also justify a good performance of their bank accounts. If a bank overdraft can seem like an “accident” in the management of finances, several recurring overdrafts can be synonymous with a complicated file. It is, therefore, better to anticipate this and then submit statements of sound finances.
The assets to obtain the best loan conditions
To put the chances of obtaining a home loan from a banking institution, the applicants have the possibility of domiciling their income. The domiciliation is not obligatory but it can be the object of a counterpart (expenses offered, negotiation of the rate of interest, exemption of the penalties of prepayment). From now on, this counterparty must be clearly written into the loan agreement. In return, the borrowers must respect a domiciliation of a minimum period of 10 years.
Finally, a contribution is a plus non-negligible. Because on the one hand, it is synonymous with an ability to save and on the other hand, it can cover the costs related to the purchase of a property (emoluments of the notary, etc). Note that with current low rates, the best profiles pampered by the bank have, sometimes, the opportunity to make a credit to 110% that is to say without input. The loan will then cover the amount of the acquisition and the attached to the sale.