Why and how to evaluate your mortgage online?

Properly evaluating the different contours of a real estate project is essential for its success. The same is true for the loan requested to finance the said project. Whether for your personal organization or to convince the bank of your solvency, you must assess its various aspects. But how to evaluate your mortgage online? What exactly is it for?

Why evaluate your mortgage online?

Evaluating your home loan consists of determining, as precisely as possible, the different characteristics of the operation. For this, it is now possible to perform various calculations and simulations online. This has several advantages:

To know its borrowing capacity

The first advantage of such an approach is that it allows know precisely the maximum amount of the loan which you can request from the bank. Without this, you risk negotiating a loan that is far beyond your capacity and having your application rejected altogether.

To test multiple scenarios

With an online tool like the loan simulation with E-real estate, you also have the ability to test multiple scenarios before making your request. You can for example:

  • Vary the duration of the loan envisaged in order to see the impact on the amount of the monthly payments to be paid;
  • Define the ideal amount of your personal contribution;
  • Set a maximum monthly payment or make simulations with several amounts in order to find the one that suits you best;
  • Make simulations with different credit rates to find the best rate for you.

Based on the different results obtained, you can thus apply for a home loan that exactly matches your profile. This will naturally have a better chance of succeeding than a request made on the basis of approximate parameters.

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The online loan simulation to check your eligibility

Zero-rate loan, Eco-PTZ, approved loan… there are many aid schemes for access to land. But the eligibility criteria are usually complex. With an online home loan simulator you can determine if you are eligible for any of these schemes.

Loan simulation for renegotiation

A mortgage loan simulation can also be useful in the context of a credit renegotiation. You can indeed start from the characteristics provided for a real estate project at the current date in order to renegotiate the terms of your credit with your bank.

Free and easy to use

Assessing your mortgage online is completely free. Besides, you don’t need to be a computer whiz to find your way around. In just a few clicks, you have all the necessary information about your credit from your smartphone or from your computer connected to the Internet. This avoids tedious calculations or paying a professional to do them.

How to evaluate your mortgage online?

To assess your mortgage online, simply provide the following information in the simulator:

  • The type of project you wish to finance: buy new, buy old property or building land;
  • Net income your home;
  • Loans being repaid: consumer credit, personal loans, auto credit, etc. Indicate the total amount of monthly payments paid;
  • The department in which the property is located. This detail is involved in the determination of notary fees, because the rate of the registration fee varies from one department to another;
  • Your age;
  • The amount of your personal contribution. As a general rule, it is recommended that the personal contribution be equivalent to at least 10% of the total amount of the project. This amount affects the maximum amount you can claim;
  • The repayment term credit.
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A few seconds are then enough to see all the information on your mortgage.

It should be noted that evaluating your mortgage online does not imply any commitment. You are therefore free to carry out as many simulations and evaluations as you wish before making your actual request.

Read also: Why and how to establish a good real estate financing plan for the bank?

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