Author: Sharon Garcia

Payday loans no credit checks no fees -Online payday loans no credit check are here

by Sharon Garcia

Loans without a job and free of charge are not allowed because the law forbids it!

Online credits in just 15 minutes without a job offer access to credit for people without a formal job. The first free loan gives you the opportunity to borrow for the first time free of interest and commissions. All you need is a bank account with a Latvian bank and an active mobile phone connection.

 

Search for Cash? Online payday loans no credit check are here

In order to get internet credit without a job, you must have no late payment or debt. You do not need to submit any documents. You need a mobile phone and a bank account to receive money in your bank account within minutes.

Online payday loans no credit check by Payday Loan Helpers are a popular way to apply and get money in the short term. This will usually take a couple of minutes as you do not need the extra paperwork and other paperwork required by the banks to get the credit. All of this is because fast credit is short-term credit and the amount is much lower than long-term credit.

 

Jobless loans mean:

  • Loan without a job
  • Loan without pledge
  • Loan without official income
  • Loan Free
  • Loan without interest
  • Loan without commission
  • Loan without guarantee
  • Loan without additional requirements

Jobless Internet loans and other requirements show you how easy it is to get fast Internet credit through the Internet. All you have to do is sign up and apply for a few clicks to get paid.

 

Free internet credits

Free internet loans and jobs give you the opportunity to borrow for the first time completely free - no commissions, no interest. This offer is for new first time borrowers.

 

What are free internet loans?

  • For example, if you borrow $ 100 for 13 days, you will have to return the same $ 100 after 13 days.
  • For example, if you borrow $ 150 for 18 days, you will have to return the same $ 150 after 18 days.
  • For example, if you borrow $ 190 for 25 days, you will have to return the same $ 190 after 25 days.

Global Annual Effective Rate

by Sharon Garcia

The overall effective rate of the loan

The overall effective rate of the loan

The global percentage rate (APR) takes into account all the elements of the cost of the loan, in addition to the interest rate, called the borrowing rate: borrower insurance costs (when required), application fees, other additional costs. Even if they are paid in one installment at the beginning of the credit, the fixed costs are divided by the duration of the credit in order to be calculated as a percentage.

For consumer loans and real estate loans, regulated by the Consumer Code, the TEG is referred to as the Annual Effective Rate (APR). The TEG (or APR) calculates the total cost of your credit and compares the offers as a whole, not just by comparing the borrowing rates.

Insurance costs

Insurance costs

In France, death and disability credit insurance, otherwise known as "borrower insurance", is made compulsory by financial institutions for any real estate credit but not for consumer credit. The higher the amount borrowed and the longer the term, the more this insurance makes sense, as it relieves your heirs of any repayment obligation.

The banks that give you credit at the same time offer the necessary credit insurance. Since the Lagarde reform of 2010, they can no longer require you to take group insurance. You can choose an individual insurance from the company of your choice. However, to be accepted by the bank, the contract must have the same level of collateral or coverage as that of the lending institution.

The law of 17 March 2014 on consumption, known as the "Hamon law", created a right of substitution of the borrower insurance contract for real estate loans. For offers issued since July 26, 2014, the borrower can change loan insurance, free of charge, during the first 12 months after signing the mortgage offer.

The February 2017 law ratifying the Ordinance on Consumer Credit Agreements replaces this right of substitution with an annual right of cancellation. As of March 1, 2017, borrowers can change borrower insurance each year, provided their credit offer is issued from the date of publication of the law. And from 1 January 2018, this new annual right of cancellation will be applicable to all borrowers with a mortgage loan being refunded, regardless of the date of signature of their mortgage.

The new insurance contract proposed in replacement must offer a level of guarantee equivalent to the group insurance contract.

Other insurance like job loss insurance is optional. Useful in particular for a long-term mortgage, it includes many exclusions of care (waiting periods, non application in case of precarious work situation, employment contract of indefinite duration ...). And because of its relatively high cost, this insurance is not retained by the borrowers during the subscription of the loan contract.

Application fee

Application fee

They are withdrawn by the credit institution when the credit is set up. They can be too if your file "does not pass" and your credit is denied. These fees correspond to the cost of analyzing the credit application file. Depending on the types of loans and banks, they may be fixed or proportional to the loan amount. They represent up to 1% of the amount financed.

Ancillary costs

Ancillary costs

They include the costs that the bank incurred on your behalf: tax stamps, registration fees, etc. As a rule, they do not exceed a few tens of USD. In case of purchase of real estate a notary will have to supervise and ratify the real estate transaction. These fees, which are mandatory and substantial (they represent 6 to 7% of the purchase price of an old home), are not credit-related costs and a good part of them are of a fiscal nature (registration fees). See the website of the Notaries of France

TEG and total cost of credit

TEG and total cost of credit

The effective rate of credit is an important element of the cost. Small differences in rates ultimately result in significant changes in the total cost of the loan: 6.5% interest rate instead of 6% on a loan of $ 50,000 borrowed over 10 years represents an additional monthly payment $ 12.64 and an overall additional cost of credit of more than $ 1,500.

The APR is not sufficient to assess the true cost of a revolving credit. It all depends on the rate at which the capital is repaid. The lower the monthly payments, the longer the credit repayment period and the higher the cost of credit. The Lagarde reform of 2010 set a maximum repayment period for the use of revolving loans: 3 years for an amount less than or equal to 3,000 USD, 5 years for an amount greater than 3,000 USD.

Payday loans for an opportunity not only for debtors

by Sharon Garcia

In the general public belief and partly in the common practice of loan companies, it has been established that payday loans are a financial product addressed to debtors. To people who for various reasons will not receive a standard loan (for higher amounts) and who can forget about a bank loan at the start. Recent months on the financial market show, however, that this trend is starting to change.

 

How?

Another group of debtors is still joined by another: young people between 18-23 years of age who take out loans for consumption. The most frequently indicated reason for reaching for a financial commitment is the desire to buy a telephone or other electronic equipment, the first car or a trip abroad. In the vast majority of cases, borrowers from this group do not yet have a stable source of income, employment contract or other financial security, which is why payday loans as proof prove to be the ideal solution for them.

 

What about repayment?

What about repayment?

An interesting statistic is that of how such loans are taken out by young people. It may surprise you that, contrary to appearances, there are no major problems with it. Only 15% of borrowers before the age of 23 have delays in paying their debts. The reason may be low installments for this type of loans and the repayment deadline spread over time; they are not amounts reaching hundreds of dollars, but usually several dozen or in the case of small loans, even several dollars per month.

 

Payday loans for proof and credit history

Payday loans for proof and credit history

Experts point to one more interesting phenomenon related to loans granted for the identity card itself. For young people, it's a great way to start building a positive credit history. Incurring a small liability even for a thousand dollars and paying it off on time - even with the same money - will allow you to enter in credit registers as a reliable and timely lender. And this has an impact on future loans and borrowings, which will be easier to obtain.

Termination of a revolving credit

by Sharon Garcia

 

We all know, subscribe to a contract, whatever it is, it is usually quite simple. To separate from it, it is much more complicated. Between the deadlines to be respected, the specific conditions, the tacit renewals, and what do I know yet, it is sometimes very difficult to terminate a contract. Fortunately, the laws have evolved a little in our good old France. So now, canceling a revolving credit has become very simple.

Act Châtel.

Act Châtel.

Indeed, since August 1, 2005 and the implementation of the Châtel law, it is possible to cancel a revolving credit at any time. In fact, you must of course have paid all the amounts borrowed, as well as any penalties provided for in the contract. Here are the two most common cases.

Termination on the anniversary date.

Termination on the anniversary date.

Since the Lagarde laws of 2012, the revolving credit has changed. Establishments and subscribers now enter into a contract on a one-year basis, renewable by tacit agreement on each anniversary date. However, 3 months before the anniversary date, the financing organization from which you have signed your contract must send you a letter in which it must stipulate the conditions of the contract for the coming year. This information must contain three elements, including the terms of termination.

In fact, you have up to 20 days before the anniversary date to send a mail to the establishment in question. In this mail, you simply specify that you want to see your revolving credit stop, and you accompany your mail with a check of the balance, if any.

You can do it because you do not want it anymore or because you do not accept the new conditions.

Termination due to the non-use of the revolving credit.

In case you do not use your reserve of money, know that it is suspended after a year of inactivity. However, it may be reactivated in the following year. In fact, you have to wait two full years without any action on the revolving credit so that it is terminated de facto. If, despite this time without use, you still have sums to settle, you must pay the balance at the same time.

Other case.

Other case.

There is one last case of termination. This is the revolving credit to which you have subscribed but which you do not wish to activate. If you are still within 14 days of the subscription, you have the right to request the termination of the contract. Formerly limited to seven days, this period of termination was extended by Law No. 2010-737 of July 1, 2010. Do not hesitate to use it when you retract.

In short, and to sum it up, it is possible to cancel your revolving credit when you wish, as long as the reserve is complete and you have no money left to repay. However, a non-employee revolving credit generates no fees and always leaves the possibility of an appreciable pay-out in case of a hard blow.

The total cost of credit

by Sharon Garcia

With these data, it is possible to establish the schedule of your repayments. This is called the amortization schedule of your loan. This document is obligatorily attached to the loan offer. It indicates the amount owed by the borrower at each maturity by detailing the distribution of the repayment between: the principal, the interest, the borrower insurance contribution and the capital remaining due after each monthly payment. In the case of a variable rate loan, it will only be possible to draw up an amortization schedule if the different interest rates and their date of application are established from the outset. But if the rate is indexed to uncertain data such as general interest rate developments, it will be impossible to establish the depreciation schedule that will actually apply.

The overall cost of your loan is equal to the difference between the total monthly payments (plus fixed costs) and the amount of the loan. This overall cost must be communicated to you by your banker.

This essential data is not the only criterion of choice. The financial burden you will have to pay at each term, what it will weigh in your budget is also an important factor in the decision. Never forget that the expenses of a credit are constrained expenses, fixed expenses in your budget. Alas, the credit that has the least overall cost is not necessarily bearable for your budget. You have to take into account these different dimensions, partly contradictory, to define the amount you can borrow, the repayment term and the interest rate you can get.

For example, choosing a longer term for a mortgage (for example 20 years instead of 15) usually leads to paying a generally higher interest rate for a longer time. The overall cost of credit is higher. But monthly payments are lower. If you set a priority goal of not exceeding a monthly financial burden limit, you can borrow more.

An encrypted example

An encrypted example

Hypothesis B: The amount of the loan is the same as in the hypothesis A. The credit is extended by 5 years. The interest rate is 0.2% higher. The cost of credit increases by 44% but monthly payments decrease by almost 15%. Assumption C: The credit is extended by 5 years compared to hypothesis A. The interest rate is 0.2% higher. The amount of monthly payments is stable (at $ 1,600). The overall cost of credit is 64.5% higher, but the amount of the loan is increased by almost 15%!

The repayment terms

The repayment terms

The method generally used is that of periodic repayments of a constant amount. This is most often monthly payments. All simulations provided by our calculator are based on this assumption. To measure the benefits, one can make the comparison with different methods of reimbursement. An amount of $ 50,000 over 4 years borrowed with an overall interest rate of 9%. Suppose for simplicity that payments are made by annuities.

The overall cost of credit is significantly higher (+ 50%) because the interest covers the entire capital for the entire period. However, this formula can be useful in two cases: when the borrower anticipates a cash receipt the year of the end of his loan, or if he can save himself the sums he will not have to pay. every year and if he can place them with a sufficient return (equal to or higher than the additional cost of the loan).

The cost of credit

by Sharon Garcia

You can get credit from a bank or from a specialized credit company.

A credit creates reciprocal commitments in a contract. The lender undertakes not to claim the principal (the loan sum) in advance and the lender undertakes to repay the principal according to the agreed terms. In addition, in order to remunerate the bank for the service it renders (to make available, in a short time, a sum of money) the borrower must pay him interest.

A distinction is made between real estate credit and consumer credit: the rates and borrowing conditions are not the same in both cases, in particular because the guarantees taken by the banks are infinitely less important - or nonexistent - in the consumer credit, hence the higher cost.

The level of interest rates

The level of interest rates

Each bank is free to set the interest rate of the credit it grants in the limit of the rate of wear. The interest rate or nominal rate of credit is the rate used as a basis for calculating interest. This rate is expressed as a percentage and for a full year. It is the global effective rate ( APR ), also called APR (A for "annual") that allows comparisons between different credit offers.

There is strong competition among banks, particularly in the credit sector. To attract customers - especially young people - banks offer very low rate loans. In recent years, because inflation was very low and key rates (set by central banks ) very low, credit rates, including real estate, have fallen considerably.

Mortgages: rates in the 2nd quarter of 2019

 

Average effective rate in Q2 2019

Wear rate applicable on July 1, 2019

Fixed rate loans under 10 years

2.04%

2.72%

Fixed rate loans from 10 years to less than 20 years

2.09%

2.79%

Fixed rate loans of 20 years and over

2.23%

2.97%

Floating rate loans

1.85%

2.47%

Relay loans

2.37%

3.16%

The average effective rate results, for each loan category, from the average TEG (total effective rate) observed during the quarter in question. In France, in order to protect borrowers, the law sets usury rates which are maximum rates that can be applied to the loan categories concerned. 

Consumer loans: consumer loan rates in Q2 2017

 

Average effective rate in the 2nd quarter of 2019

Wear rate applicable as of July 1, 2019

Less than $ 3,000

15.81%

21.08%

Between $ 3,000 and $ 6,000

9.37%

12.49%

Greater than $ 6,000

4.44%

5.92%

The total cost of credit

The total cost of credit

The total cost of credit is the "price" of credit. It is expressed in USD. It includes the total amount of interest, fees, insurance, etc. It adds to the borrowed capital.

The total cost is essential but it is not the only one, it is important to know the monthly payment to be refunded.

The borrower must be able to repay

The borrower must be able to repay

Credit is a very useful tool for financing projects. This is often the only way to buy a home. But do not go into debt too much. Banks are careful because an over-indebted client may not repay his loan and too many customer failures can lead to the bankruptcy of the bank itself. This is why, in France, the banks verify, when they grant a mortgage to a household, that the debt ratio does not exceed one third of its income. The household, meanwhile, before committing to a loan, must ensure that the monthly payment will be sustainable over the long term.

The longer the repayment period of a loan, the higher the total cost, even if the rate is the same. In fact, interest is calculated at each maturity on the outstanding capital. If the repayment rhythm is slow, with low monthly payments, the share of interest increases and increases the total cost.

In most loans, the monthly payment is fixed and includes a share of capital and a share of interest. In the first years of the loan, repayment is mainly interest and little capital, the situation is gradually reversed.

Over-indebtedness

Over-indebtedness

Over-indebtedness is the inability of a natural person to meet his or her borrowing costs or the payment of bills for current expenses (rent, electricity, heating, etc.).

In case of over-indebtedness, it is important to react quickly. It will be a matter of filing an over-indebtedness file with the Commission of over-indebtedness of Individuals of the departmental branch of the Ranco Bank.

Once the file has been accepted by the Commission, a solution, which seems to be the most adapted to the situation, is proposed. The goal is to help the individual overcome their financial difficulties over the long term while balancing the interests of the debtor and the creditors.

Revolving Credit Online Now: 3 Clicks for a Revolving Credit

by Sharon Garcia

A revolving credit remains primarily a credit. Receive your quotes online quickly! So, as with any credit application, we must complete a file with our comparator below. It is probably also to support this point that the official denomination voluntarily supports the word "credit", unlike the old names that put especially the side "reserve money".

Two different ways to obtain a revolving credit.

Two different ways to obtain a revolving credit.

Due to its specificity, revolving credit does not require as much precision as a conventional credit. In fact, there are two cases of underwriting.

Either you are already a customer with the organization offering the line of credit, and requests and subscriptions can go very  quickly, either, you are unknown to the finance company, and the deadlines will be substantially the same as for a conventional credit. In this second case, you will have to go through the online simulation exercise, then fill in a form. Then, you will have to print, fill out and mail the complete file, with the required supporting documents. Finally, the finance company will come back to you with its final agreement or refusal. From this moment, you will have the funds.

The advantage of taking out a revolving credit with your bank lies precisely in this period. As you are already customers, entry forms are often useless. You are known to your establishment. And, with your codes allowing you to join your online customer area, you can make the request directly. The saving of time is appreciable. And that is also why organizations like Bankate, or Bankcost, are able to react very quickly. And even more if you are already a customer of CreditCole or Credither respectively.

Be careful though, do not confuse demand and acceptance! It is not because your application has been validated on the basis of the figures you have given, that the funding will be accepted. As stated above, revolving credit is primarily a credit, and is therefore subject to the same rules regarding indebtedness. To complete on this point, do not confuse either agreement in principle and final agreement.

Agreement and agreement in principle.

Agreement and agreement in principle.

Many websites mean that they agree to issue you a revolving credit, in principle. That is, after you have done an online simulation. But things may differ once you provide them with your vouchers. Indeed, several reasons can push a financial institution to refuse to grant a credit;

  • Figures that do not match. The revenues noted on the simulation are different from those declared on the tax slip;
  • Occupational situations considered precarious or unstable. Thus, if you are self-employed (self-entrepreneur, artisan, self-employed worker ...), the inherent risk calculations are not the same, and it is common that you are asked two to three years of hindsight on your activity;
  • An entry in the Eicredit banking incident files, especially the credit report (FICP);
  • A debt ratio considered too high;
  • Etc.

So do not rely on online simulators to accept your credit application. They can be very reliable when it comes to calculating the amount of a maturity from a borrowed envelope. But this is limited to that.

However, if you are in an emergency, get closer to your bank. It is still the one who will react as quickly as possible. But in doubt, do not hesitate to put several irons in fire, constituting various file. In addition to comparing products and costs, you will also gain in contact.

Early repayment of home loans

by Sharon Garcia

A borrower can always, at any time, prepay his mortgage. The bank can not oppose an early repayment, except if it is a partial refund of an amount less than or equal to 10% of the initial loan amount (Article L312-21 of the Consumer Code) ).

The early repayment corresponds to the settlement of the outstanding capital, before the originally scheduled term of the loan.

The early repayment is total when you repay the entire capital outstanding, in case of sale of real estate or renegotiation of credit, for example.

The early repayment is partial when it relates to a part of the sums due, in case of exceptional cash inflow for example.

The conditions for early repayment are set in the contract

The conditions for early repayment are set in the contract

To compensate for the shortfall from interest that will not be paid, the lending institution may demand the payment of an indemnity, or penalty, for early repayment. It is not compulsory. That is to say, the lender can claim his payment only if this compensation is mentioned in the contract.

Before the conclusion of the loan agreement, it is possible to negotiate the reduction or even the cancellation of this prepayment allowance. The lender may agree to remove this indemnity, but after a minimum loan repayment period. But in many cases, the clause stipulating the absence of an early redemption fee will not be applicable in the event of the loan being bought back by a competing credit institution.

The conditions of the early repayment are to be studied closely. For "adjustable" fixed rate loans, the contract is often subject to the possibility of partial prepayments without penalty.

The amount of the early redemption fee is capped

The amount of the early redemption fee is capped

This prepayment allowance may vary depending on the type of loan. If it is low or zero for adjustable rate loans, it may be high for fixed rate loans.

The loan agreement sets the amount of the Early Redemption Amount (ARI) you will have to settle with your institution. The amount of compensation is limited by law (Article R312-2 of the Consumer Code). Its amount can not exceed 6 months of interest on the capital repaid at the average rate of the loan, without being able to exceed 3% of the outstanding capital.

You have taken out a loan of 150,000 USD, at the nominal rate of 4%, repaid over 20 years. At the end of 7 years, you repay in advance the total outstanding capital of 110,430 USD. The maximum prepayment compensation you will have to pay will be 2,208.60 USD. It corresponds to the lowest result of these two calculations:

  • 6 months interest on the amount reimbursed: 110,430 x 6 x 4% / 12 = 2,208.60 USD.

  • 3% of the outstanding capital: 110,430 x 3% = 3,312.90 USD.

Alternatively, instead of full repayment in advance, you make a partial early repayment of 40,000 USD. The maximum prepayment compensation you will have to pay will be 800 USD. It corresponds to the lowest result of these two calculations:

  • 6 months interest on the amount reimbursed: 40,000 x 6 x 4% / 12 = 800 USD.

  • 3% of the outstanding capital: 110,430 x 3% = 3,312.90 USD.

The consequences of an early partial refund

The consequences of an early partial refund

A partial refund of the credit modifies the original loan schedule. You can choose to reduce the amount of the monthly payments, by maintaining the initial duration of the loan. This way, you reduce the monthly repayment charge, but not the total cost of the loan. Either you continue to repay the amount of the original maturities, which allows you to reduce the loan term and therefore its total cost. You can also choose an intermediate solution mixing the two previous ones. Review your loan agreement to see if any of these options are applied by default by the lending institution.

Since the law of 25 June 1999 relating to savings and financial security, for loan agreements concluded as of 1 July 1999, no indemnity is due by the borrower in the event of early repayment motivated by the sale of the property following a change in the place of business activity of the borrower or his spouse, the forced termination of the professional activity (dismissal, etc.) or the death of the borrower or his spouse. (Article L312-21 of the Consumer Code)

In practice, you must contact the lending institution and indicate the amount you want to repay. In case of agreement for partial prepayment, a new depreciation schedule will be given. The early repayment of the loan also occurs frequently in the event of resale of the property or as a result of a significant cash inflow. Whatever happens, do your calculations!

Differences between personal loans and credit cards

by Sharon Garcia
At present, many of the people seeking financing do not know exactly what features should be fixed in the process, as which option will cost them less for their pockets or which one offers greater comfort. This is where loans and credits come into play. However, not everyone knows where the difference lies between a loan and a credit. That is why, from Good Finance, we show you the characteristics and differences between both options.

How do credit cards work?

How do credit cards work? Credit cards provide smaller amounts of money, that is, a certain amount of cash is available, up to a maximum limit. This is not necessary to spend, but it can be available, if so decided. For a set time - which usually lasts about a month - that money can be available partially or in its entirety. The use of credit cards is usually associated with the accumulation of operations. Once this one month cycle ends, the fee that represents the transactions to date will be charged. If these amounts are not paid at the moment, the bank may charge a series of interest as the equivalent annual rate, popularly known as APR.

How do personal loans work?

How do personal loans work? Personal loans cover a specific need in the plaintiff, for example, they are usually requested to make certain purchases (consumption), home renovations or, to reunify debts. Once the amount has been established, a maximum term for its return is agreed, this quota being totally flexible to the plaintiff, which gives it great comfort when paying the borrowed money. Loans are usually larger amounts of money that are provided in full at the time of contracting the service. For example, Good Finance gets loans to our users of up to € 30,000, currently. Unlike credit cards that are smaller amounts than those available during the month, or time established with the entity.

In loans the term is always the same

In loans the term is always the same While in credit cards this amount will vary depending on the transactions made during the estimated time. As an example, the loans you can get through your Good Finance app have a term of up to 72 months. In addition, in the loans the total interests are pre-established and therefore are invariable from the contractual act. Once you know all this information, if after this you are still looking for financing, do not worry, because from Good Finance you can get advice and your personal loan through the app or directly through our new website. Do you have any advice, curiosity or question that we have not commented on? What are you waiting for! You can help many users who read your comment on our blog?

Learn to Simulate Your Mortgage

by Sharon Garcia

Have you found the house of your dreams? Where do you want to build your future home? It will now be necessary to think about the financing of your property. Indeed nowadays few people buy their homes without resorting to credit. But how to know the amount of your future monthly payments? Or how to choose the duration of your mortgage, and the one that will best meet your expectations and needs? The real estate mortgage simulator is there to help you find your way around and answer your questions thanks to these simulation tools.

 

The mortgage and its specificities

The mortgage and its specificities

A mortgage is granted by a bank to finance your property, whether for a house, an apartment or a land. Different types of real estate loans exist, and you will be offered, depending on your project, or your situation.
In case you want to buy your property as your main residence, you can use the loans, that is to say, granted by the State, subject to fulfill the conditions of obtaining. The zero-rate loan, also known as PTZ +, is one of them. It allows a household of first-time buyers to help them access the property, in the case of a new property, or in some cases, an old property, under certain conditions.
Among the types of loans, the bank loan corresponds to the most common financing. All banks are able to offer them. There are several kinds :

  • The depreciable loan: it is the most common loan in France. The monthly payments made by the borrower amortize the capital borrowed and repay the interest on the mortgage over time. The last term of the mortgage means that the loan is fully repaid.
  • In fine loan: Unlike the depreciable loan, the capital is not repaid through monthly payments. It concerns borrowers who have available savings on which the financing will be backed. All borrowed capital will be repaid on the last due date.
  • The bridge loan: The bridge loan is not depreciable. It concerns borrowers who already own property, which they wish to put on sale, and which will not be sold before the purchase of a new home.

 

Simulate your mortgage

Simulate your mortgage

Thanks to the simulator, you can not only compare different types of loans, but also calculate your future monthly payments. With a few clicks, you can quickly assess the amount of monthly payments that you will have to repay based on the amount borrowed and the duration of your mortgage. It is also important to know your borrowing capacity. The simulator will also allow you to estimate the maximum amount of property you can buy and thus determine the amount of your future loan.
Finally, an important point, which will also be calculated by the bank from which you will subscribe your mortgage: the calculation of your debt ratio. The simulator will calculate for you your debt ratio based on your current income and expenses. The maximum debt ratio is about 33% of your income.

The mortgage calculator also allows you to compare the various offers of home loans, which are numerous. Many criteria must be taken into account and you must know the different points that you must compare: the interest rate of the loan, the duration of the loan, the cost of insurance and especially the total cost of credit.

 

Interest rate is fixed or revisable

Interest rate is fixed or revisable

With a fixed rate, the borrower knows the interest rate from the beginning of his loan and therefore the amount of his monthly payment. It will be fixed for the duration of the loan. For the revisable rate, the monthly payment varies over time according to a benchmark. Many adjustable-rate loans have been revised to protect borrowers from rate increases that may apply.

The mortgage simulator can also calculate the savings you can make if you want to renegotiate your loan. Indeed, current rates are more advantageous than a few years ago. With the simulator, you can calculate the impact of renegotiation, and know if you can lower the cost of your credit, and reduce your monthly payments and the duration of your mortgage.
Among all the features of the mortgage simulator, you can also assess the notary fees you will have to pay. They depend on the type of good purchased and will always be your responsibility. Finally, you can view your amortization table, with details by month or by year of your repayments throughout the life of vote mortgage.