The simulator allows you to make one of the best real estate choices on the market without spending a lot of time searching. You can move in different banks and financial institutions to ask for the conditions of a mortgage but this step can make you waste a lot of time. Going to an online mortgage comparison platform allows you to find the right home loan offer for you in no time. You can also save money. Simulators rank offers according to their cost.
Using an online mortgage simulator is a completely free and unobtrusive step. You can find your happiness from home without anyone asking you the reason for your loan.
What is a mortgage for what purpose?
A home loan (mortgage loan) is a loan that is intended for the financing of real estate. It may cover all or part of the purchase of a property, the costs of a construction or work on a property already in acquisition.
A mortgage is characterized by a fixed amount, granted by a bank or a financial institution, sold by a bank or by a credit broker, established over a long period of time, at a fixed rate for the entire duration, in connection with a personal contribution , repayable by monthly payment in a continuous way, to have a guarantee on the property which is financed, accompanied by a life insurance on the borrower and expenses of file, limited to a part of the value of the good.
The conditions to benefit from a mortgage
Obtaining a home loan is subject to a thorough file review. Certain conditions are taken into account by the bank or financial institution.
You must have a fixed monthly income, that is to say, be in possession of a work contract and a payslip. The latter should be evaluated by the borrower with all of your sources of income.
The bank also considers the creditor’s indebtedness and takes particular account of its outstanding loans, its expenses: rent, taxes, insurance.
The state of health of the aspirant is also a criterion that influences the final decision of the lender. The application includes a questionnaire related to the state of health of the borrower, who must also have a loan insurance.