Sometimes we need money to complete an impending project, such as buying a car or real estate. However, loan applications for financiers do not always receive a positive response. How to put the odds on your side and optimize your credit application file?
The data of the people are kept for 5 years for the incidents of reimbursement characterized. As soon as you are in a situation where you have not repaid your credits, you will appear on the file. The regularization of the payment entails the early cancellation of the FICP. For more information, you can consult the official site of the administration of France .
Show your banker that you can manage your budget. If you live on a small salary, control your expenses so as not to go into the red at the end of the month. If, on the contrary, you have more means, show that you are not spending everything and that you are saving.
Everything depends on your saver profile: whether you are a recent graduate, on a fixed-term contract or an employee for years, show that you are realistic about the duration of the loan, the monthly payments but also the total amount to be repaid.
The monthly payments of all your current credits should not deprive you of an amount available each month for your daily living expenses.
In the context of a home loan, the personal contribution will greatly help you in optimizing your request. This can be made up of personal savings, the resale of real estate or an inheritance. A contribution is typically between 10% and 50% of the total amount of the loan. A high personal contribution will also allow you to obtain a more attractive interest rate for your credit.
The longer the term of the loan, the higher the rate. On the other hand, this will allow you to have lower monthly payments, which will fit better into your budget.
However, pay attention to the total amount of interest you will have to repay: this increases considerably by extending the duration of the loan. It will therefore be a question of finding the right balance between monthly payments and interest.
Each bank is different and has its own credit policy (apart from legal restrictions common to all). The rate may be better from one bank to another. Do not hesitate to prospect and compare!
Having a deposit will allow the bank to have a guarantee in case of non-payment on your part. The guarantor can be a member of your family or a relative who will have to pay in your place in the event of your incapacity (depending on the security scheme that the guarantor has accepted).
For a mortgage application, where the property purchased is pledged, you will have more chance of having a favorable response for an apartment in the city center than a country house requiring renovation work. The reason being that the first property will be easier to resell in the event of repayment difficulties.
Think carefully before taking out a loan. Carefully calculate your repayment possibilities and consider the development of your situation realistically.