When we decide to buy real estate, we often start, wrongly, by looking at classified ads. Because the disappointment can be great between the budget imagined and that effective. A mortgage loan simulation will define the budget and know the total cost of the future loan.
Determine your budget and the total cost of the loan using a simulation
Performing a mortgage loan is indeed essential to verify the relevance of the project. Potential buyers generally have a fairly precise idea of the type of property they wish to acquire: house or apartment, number of bedrooms, geographic location, etc. The process is also very simple and takes only a few seconds. Visit one of the many mortgage simulators on the Internet.
It is necessary to fill for example the total amount to borrow, that is to say, the price of the goods added to the notary fees, warranty fees, agency fees minus the personal contribution.
The mortgage candidate can then try several formulas to ensure that he can borrow the amount concerned with monthly payments that do not exceed his debt ratio or 33% of his income.
What about the deferred home loan?
Sometimes the type of real estate project may require something called deferred depreciation. This amounts to delaying the reimbursement of monthly payments. Concretely, several cases can arise:
The purchaser cannot assume the repayment of the monthly payments and the rent or the monthly payments of the old credit which continue to run until the moving in or the sale of the old good.
The purchaser has purchased goods in the state of completion (VEFA) and reimbursement begins when the goods have not yet been delivered.
The buyer must renovate his property before he can move in, which means paying for two dwellings during this period.
You should know that not all banks accept deferred reimbursement. They are also more or less flexible and can offer various solutions:
The total excess: the reimbursement of full monthly payments (capital, interest, insurance) is delayed to a later date.
The franchises in installments: sometimes offered by banks when an acquirer builds his property. This allows repayments to change depending on the progress of the work.
partial exemption: generally preferred formula based on the immediate reimbursement of interest, but with reimbursement of deferred capital.
This practice has a cost, however. And concerning the last solution, you should know that the interest is very high at the start of the loan. The buyer must, therefore, pay approximately half of his future monthly payments.