How to successfully prepare a mortgage loan application?

[tanjimajuha20]

The first condition to be sure of successfully obtaining a mortgage loan is to be able to demonstrate excellent financial health . Not only is good day-to-day bank account management of capital importance, but also the borrower's profile must demonstrate good financial stability. To do this, the bank advisor will study the mortgage loan file in depth and, based on the elements provided, will be able to recalculate the borrowing capacity. This amount, studied in particular in MBA Insurance , corresponds to the sum that the borrower is able to devote to the repayment of his mortgage loan as well as to all of his current debts. In January 2022, this debt ratio is set at a maximum of 35%.

In addition, the financial moj database advisor will also take into account the remaining amount to live on, that is, the amount that remains in the bank account once all the charges have been paid by the borrower. Among the charges to be taken into account, there is of course the mortgage , but also the rent, as well as the current expenses of daily life such as food expenses, fuel, transport expenses, the children's canteen, etc.

In addition, the approval of a mortgage loan is also conditioned by the amount of the personal contribution. As a general rule, financial institutions appreciate initial payments that correspond to amounts greater than the equivalent of 10% of the total amount of the investment. This makes it possible to negotiate a more attractive interest rate for both the investor and the bank.

To successfully complete a mortgage application file, the borrower can also complete it with all the documents in his possession that can justify immediately available resources. This can be, for example, savings investments, a set of assets, company shares, or even life insurance contracts. It is also possible to make an early repayment in order to reduce the monthly payments of the mortgage loan, but also to renegotiate the mortgage rate. However, this approach requires excellent financial management throughout the mortgage loan contract on the part of the investor.