Access to the property without contribution, it is possible provided you put the odds on your side. Discover our advice for obtaining a mortgage without contribution. How to appear reliable with a bank and obtain a mortgage without money aside? How can your loved ones help you buy a house? What are the aids to become an owner without contribution? We answer all your questions.
Summary
Real estate credit, How to present a good file to your banker?
Taking care of your file is the first thing to do to have a chance of obtaining a mortgage without contribution. To score points with your banker, play the card of total transparency. Bring all the necessary supporting documents and try to be as precise as possible. Do not wait for reminders from your banker to provide him with the necessary documents.
The other trick is to do a financing study and present it to the bank with your project. Determine your borrowing capacity and accurately calculate your debt ratio. This financing study represents a good basis for discussions with bankers. In the same way, wait for the appropriate moment before presenting your file. Before granting you a home loan, the bank analyzes your ability to repay future installments. It takes into account the proper keeping of accounts. Apply for a home loan when you have at least three months of positive statements. No need to canvass a banking establishment if you have encountered a payment incident in the last three months (unpaid check, rejected direct debit, etc.).
To accept or not your request, the banker will take into account certain criteria including the level and regularity of your income, your professional stability and your marital situation. With a young investor, the banker relies on age, income and also the potential for development. Banking institutions are more reluctant to lend to people over forty. However, some banks have developed specific offers for this age group.
Note, whatever your age, it is preferable to present a file with a debt ratio of less than 30%. If you plan to buy a house or an apartment that needs work, put it off.
100% credit
When you have no savings or you prefer not to use your savings to undertake work, for example, it is possible however to buy a house without contribution through of course a mortgage that the is called in the banking sector a 100% credit.
There are several criteria that will be taken into account for your loan application file to be accepted:
- The choice of bank. Indeed, not all banks agree to lend money without contribution.
- Your profile. The bank will study your income, the way you manage your accounts, it will see if you are often overdrawn. It will also be interested in your age, your profession, your prospects for professional development… Depending on this, if your profile corresponds to the criteria defined by the bank, it is quite possible that it will authorize your loan request. immovable.
Generally, banks will favor young profiles who have recently entered working life. As a result, knowing that you are a young worker, the bank assumes that you have not yet had time to build up savings capital and it is more lenient in allowing you to borrow.
Questions to ask yourself to become a homeowner
To have a chance of getting a loan, be realistic and ask yourself the right questions. Be reasonable. Claiming a large loan without contribution is doomed to failure. On the contrary, identify your needs: what type of accommodation (house, apartment, studio… and with what living space? What is your borrowing capacity? How much will you have left to live on?
For a first purchase, aim more for accommodation with less living space. When you are at the head of a larger capital, you can consider buying a larger home.
Home loan without contribution, using a broker
To put the odds on your side, call a mortgage broker. This financing professional will draw up a precise assessment of your financial situation and will check the feasibility of your real estate project. It can also help you in granting state aid. The PTZ Plus as well as the loan from local authorities represent accession aid.
The real estate broker has a network of financial partners and has excellent knowledge of the market. He will choose for you the banks most likely to accept your credit application without contribution. Generally, specialized establishments such as Crédit Foncier or Crédit Immobilier de France remain the least demanding.
To choose the right broker, be vigilant. Play the competition and during the first meeting, ask the question of brokerage fees. In any case, make sure that the real estate broker is registered in a specific register specific to his trade. This is held by the Banque de France.
Buy without deposit: the surety of relatives
If the bank is very reluctant to lend you money, offer the surety of a relative. Before considering this solution, ask the parent’s consent. In the event of default on your part, this may have serious consequences for the guarantor. The bank can also offer you the use of a private surety company. Usually it belongs to him.
