Many people are wondering about the use of a consumer credit as part of a real estate purchase. You have to look closely at this aspect before committing yourself.
Subscribe to a consumer loan before starting a real estate purchase
Those wishing to buy an apartment or house in the near future whether it be a primary residence, a secondary residence or an investment should pay close attention to consumer credit. In fact, it would be part of the household’s expenses and reduce its ability to borrow. The debt ratio is a data scrutinized by the bankers and if the household already has a consumer credit then the mortgage payment monthly will necessarily be lower.
Tip: before embarking on a real estate project, it is essential to show your banker his sound financial management. This is seen by no or few loans and positive accounts at the end of the month.
For those who already have several consumer credit, a credit buyback can consolidate the various loans subscribed in time and have a more suitable monthly payment.
Complete a mortgage loan with a consumer loan
If the banker agrees to obtain a loan of 180,000 €, for example. You have in mind a house for sale 200.000 € all expenses included. In this case, it would be appropriate to consider the consumer loan as a solution. No, it is not possible. You really have to limit yourself to the amount of mortgage especially as other fees come in addition.
Of course, after acquiring property, it is often necessary to buy furniture, appliances, or supplies for small jobs. The use of a consumer loan is sometimes necessary if this data could not be included in the preliminary calculation. When your bank refuses to unlock an additional consumer credit. we must look to independent organizations. They can be the financing solution. Only be careful to look at the proposed rate and the different fees.