You wish to buy a property and you have 40,000 dollar s of contribution. The positive response is assured. Really? If this money can help you with certain things, it takes a little more to convince a bank.
Is having a mortgage loan a good thing?
Some banks may authorize the release of an amount for real estate, and this without contribution, but this is relatively rare. It is fashionable, when one wishes to contract a loan, to show white paw by having a more or less important personal contribution.
40,000 dollar s represents a nice sum. However, the source of this amount may have an impact on the bank’s decision. If this amount comes from an inheritance or a gain at the games, it does not have the same meaning as if you had saved, to put it aside, for this very specific purpose. In the second case, you show the bank that you are in control of your budget.
This detail aside, the contribution remains a safe bet, to begin to reassure a bank. How then, to get a positive response?
Is a contribution of 40,000 dollar s sufficient to have a bank loan?
A contribution is a real strong point, when one wishes to acquire a real estate, but the bank will dwell on other financial considerations. The important thing for her is that you have a stable and lasting financial situation. In this, presenting a work contract as a permanent contract can only be profitable for you.
Not having a banking incident, like regular overdrafts, is also a good point. The banking establishment will look at all of your resources, as we have seen, but also your charges.
Fixed charges correspond to all the sums which are withdrawn from your resources each month. Water, electricity, telephone are some of the most classic.
But do you also have outstanding credits, for your car, for example? This type of information will inform the bank about your debt ratio at the time of the request. It must ensure, by adding the amount of monthly payments that the latter does not exceed the legislative maximum, in matters of credit.
Compare banking offers: an essential gesture for your mortgage
If all these points are validated, there is a high probability that your loan request will be granted. However, don’t be too hasty. You have obtained a favorable response in principle from a banking establishment. Is his loan offer the best?
To find out, know that there are very effective online comparators. By entering your various financial data and the amount of loan you would need to buy your new home, you are carefully examined by mortgage brokers.
By virtue of your answers, they send you the offers from the banks which have the most advantageous rate, less stringent grant conditions, reduced handling fees. A simple act, to find the most attractive offer, for your mortgage.