Now, home loan simulators are available online from financial organizations. The simulation can also be done with your bank. This technique makes it possible to define in advance your monthly payment, the duration of the loan, the distribution of the loan, its nature and of course the rate.
The mortgage loan simulation request is without commitment or signature of contract. It is also free and without charge. Online, making a mortgage loan simulation is quick and easy. Simply fill in the fields to find out, depending on the case, the future monthly mortgage loan payments, the amortization table, the borrowing provision.
There are different types of mortgage loan simulation requests:
As already mentioned, the mortgage loan simulation request is simple and quick to execute.
The Mortgage Simulation Application is presented as a digital application. For this, it is essential to provide some mandatory information about yourself. The simulation is divided into five parts.
> Identifications: here, it is essential to enter all the information concerning your identity such as full name, marital status, family status, etc.
> Information on income: it is essential to communicate in the mortgage loan simulation application the exact amount of your fixed income. If you are an employee, enter your salary and your monthly, quarterly or semi-annual bonuses.
> Fixed charges: the amount of fixed charges should also be mentioned. It is in fact your daily expenses such as electricity, gas, school fees, fuel, etc.
> Bank identities: the mortgage loan simulation request requires your bank identity or RIB.
> Bank loans: if you are in the process of reimbursing a bank loan, it is essential to specify in the simulation the amount of your other loans, their nature and the repayment period.
In the specific request for the mortgage loan simulation, there is a field specially intended for a specific request. This is an empty box in which you can enter a specific request. For example, you can mention that you are divorced and that you pay child support every month. You can also write in this special field that you have already applied for loans from banks and they are rejected, etc.