At one time or another, many people feel the urge to buy real estate and then rent or resell it. In this sense, taking out a home loan appears to be the best way to finance this type of project. Discover, below, 3 foolproof tips to get your mortgage for sure.
Take care of your bank accounts
In terms of a home loan, to put the odds on your side, take care of your bank accounts for at least 3 months. Thanks to this approach, you can present a good borrowing profile in the eyes of the bank you are applying for.
In the same way, you show him your maturity in financial management. You may be wondering, why 3 months? Simply, because the lending institution traces the history of the movements of your bank accounts 3 months back.
Have persuasive savings
When you submit a mortgage application, the bank must study your borrowing profile. In addition to your financial and socio-professional stability, it will also check whether you have convincing savings.
In principle, a lending institution easily accepts the file of the borrower who earns less, but who manages to save regularly. On the other hand, he grants little credit to a client with a large income, but who does not save often. Therefore, you must build up substantial savings before starting the procedure for a mortgage.
Present a personal contribution
In 99% of cases, a bank asks its debtor for a personal contribution to obtain a mortgage. This personal contribution is not only a condition, but also a bargaining lever.
In other words, the more you have a personal real estate purchase contribution, the more you will be in a strong position to acquire a better credit rate. This contribution also allows you to reduce ancillary expenses, such as the cost of borrower insurance.
