Do you want to make a home loan and want to have the most advantageous rate possible? In this case, you will have to be ready to negotiate with the financial organization that will grant you the credit. You should know that you have 45 days to negotiate a mortgage from the date of signing the promise of sale.
However, the conditions vary according to the different criteria specific to each borrower. Accordingly, here are some solid arguments to use during negotiations to convince your bank to grant you an attractive loan.
The debt ratio
The lower your debt ratio, the more likely you are to obtain an advantageous mortgage. If this rate is less than 15%, you fall into the category of those who have a very favorable borrowing profile.
However, if you reach 33% debt, no bank will be willing to lend you money. This rate is calculated according to the ratio between your monthly income and the financial charges attached to it. To know your debt ratio, use the simulators available on the net.
The amount of the remainder to live
This term refers to the money you have left after paying all your monthly bills. It takes an average of 400 euros per household. Some credit organizations require that there is at least 600 euros left per household before granting credit.
Now, do not hesitate to put all the assets on your side, for example if your monthly income is important. The more favorable elements you have at your disposal, the more likely you will be to convince your banker in negotiating the loan. There are many simulation tools online to easily calculate your ‘rest to live’.
When you go to a bank for a loan, they will ask for your last 3 bank statements to know if your finances are healthy or not. If you are a good manager and you do not suffer from any overdraft, you have not encountered payment problems on your current loans, you have no current consumer credit and you do not live beyond your means, the bank will consider that you have exemplary account management and will be more open to granting you a mortgage.
Now, if you do not meet all of these criteria, it is better to postpone your loan application and take the time to rectify your situation rather than run the risk of ending up with a bad file.
Read also: How to terminate your mortgage loan insurance?
The personal contribution
It will be easier for you to obtain a mortgage if you have a personal contribution. Often, you will be asked to provide 10% of the value of the property to obtain a loan, this sum to cover notary fees generally amounting to around 8%. Be aware, however, that it is possible to obtain financing without prior contribution.
Now, other sources can help you finance your contribution, such as a participation bonus obtained from your employer, a sum of money lent by one of your relatives, a loan granted by a mutual fund or other. , a PTZ (zero rate loan) if you are entitled to it.
Read also: How to get your loan for sure?