Are you looking for your mortgage?
Generally, we start this research with an idea of the rate we want to obtain, the monthly payments we could settle and the duration we would not want to exceed. But now, a mortgage offer is composed of several other elements to take into account and seem very unknown when you embark on a real estate project for the first time.
Among the credits depreciable, in fine, smoothed, multi-line, variable rate, fixed rate, sureties, mortgages, IPPD, credit insurance, PTIA and quotations, there is enough to get lost! The Credither Guide has therefore decided to draft this file to help you see more clearly and better understand what your banker, broker or notary says.
I choose my section to be at the top on the subject! In fine or depreciable? Fixed or variable? Which loan setup to choose? Which mortgage insurance to choose? Which loan guarantee to choose?
What elements do I need to think about?
When looking for financing, you need to have a global vision of a credit offer. Several parameters must be taken into account. There is, of course, the interest rate (do I have to buy a fixed, semi-fixed or variable rate credit?) And the nature of the loan (amortizing credit or credit in fine?), But not only.
The mounting of your various loans (smoothing, multi-line loan?) Is also an important point, as well as the borrower insurance. On this point, you must ask yourself about the degree of coverage desired and the quota. You will also have to choose between the group insurance (that proposed by the bank) and the insurance delegation (you go through another financial institution to insure your loan). Feel free to compare the possibilities you can have using our free mortgage comparison tool.
Finally, the last parameter to study when you search for real estate credit: the type of guarantee you want to subscribe to protect you in case of repayment difficulties.
There are three real estate guarantees:
- the mortgage (a guarantee is placed on your property);
- bonding (a specialized organization guarantees the repayment of your loan);
- the lender’s lien registration (works on the same principle as the mortgage).