What are your recipes?
Before seeking a loan you need to know how much you have to pay on time. So you will initially list of recipes :
- Make a list of your regular income (wages, investment income, pension) without considering the hypothetical income such as bonuses, overtime
- do not include family benefits that are not eternal.
expenses to deduct from your income.
Once your recipes are counting you will now deduct your expenses in progress and future expenses related to the purchase of your home:
- subtract all your debts and credits that you're already committed (car, household appliances)
- list the expenses associated with the purchase of your property (transfer taxes, notary fees, mortgage possible, various fees when you buy a house)
- remember to account for expenditures related to change of address (moving, Insurance new housing, work, subscriptions to different networks)
- do not forget the expenses incident to the status of owner (residence tax is added as the payment of taxes which represents a heavy load)
- do not forget the cost of maintaining or repairing your home or if it is a flat, expenses condominium materialized through fundraising ... By comparing quarterly expenditure and revenue, you can establish a capital budget and a cash budget.
Limit your debt ratio
Given all these parameters, calculate how much you can spend each month to repay your loan. What bankers call the effort rate. The ideal is not to exceed 25 to 30% of your resources to be sure you can meet your monthly payments. Do not over spray on the progress of your purchasing power, given difficult to control, and above all, do not give some bankers who sometimes agree to pay beyond the repayment capacity. You may have for the difficult months!
A long-term
hard to escape the credit to finance a property purchase. No panic, banks loans concoct "custom" fit your profile.
Borrowing for housing is going into debt over a long period. On 12, 15 or 20 years, the loan interest represent a substantial sum which is added to the amount loaned. Hence the importance of getting a good rate and review the best "fitting" of your various loans (principal and supplementary).
A rate varies depending on your financial situation
To get the best rate, the golden rule is to have a "profile economically correct" and show you more than ant grasshopper. Thus, some savings in a savings plan or a book or a few securities reassure your banker. In contrast, a chronic discovered the wrong impression. The state of your bank account depends on the rate you willing your banker for example, for a rate ranging between 4.6 in a facility O% and 5.95%, the range is assigned the highest the borrower as "risky" than the average range that has a low savings rate and the best one that has a comfortable personal contribution. Nothing prevents you to shop around for banks to compete.
In this case, not compare the rates posted by institutions, but the percentage rate (APR) includes, in addition to interest on the loan, filing fees, the amount of death and disability insurance, disability.
Before seeking a loan you need to know how much you have to pay on time. So you will initially list of recipes :
- Make a list of your regular income (wages, investment income, pension) without considering the hypothetical income such as bonuses, overtime
- do not include family benefits that are not eternal.
Once your recipes are counting you will now deduct your expenses in progress and future expenses related to the purchase of your home:
- subtract all your debts and credits that you're already committed (car, household appliances)
- list the expenses associated with the purchase of your property (transfer taxes, notary fees, mortgage possible, various fees when you buy a house)
- remember to account for expenditures related to change of address (moving, Insurance new housing, work, subscriptions to different networks)
- do not forget the expenses incident to the status of owner (residence tax is added as the payment of taxes which represents a heavy load)
- do not forget the cost of maintaining or repairing your home or if it is a flat, expenses condominium materialized through fundraising ... By comparing quarterly expenditure and revenue, you can establish a capital budget and a cash budget.
Limit your debt ratio
Given all these parameters, calculate how much you can spend each month to repay your loan. What bankers call the effort rate. The ideal is not to exceed 25 to 30% of your resources to be sure you can meet your monthly payments. Do not over spray on the progress of your purchasing power, given difficult to control, and above all, do not give some bankers who sometimes agree to pay beyond the repayment capacity. You may have for the difficult months!
A long-term
hard to escape the credit to finance a property purchase. No panic, banks loans concoct "custom" fit your profile.
Borrowing for housing is going into debt over a long period. On 12, 15 or 20 years, the loan interest represent a substantial sum which is added to the amount loaned. Hence the importance of getting a good rate and review the best "fitting" of your various loans (principal and supplementary).
A rate varies depending on your financial situation
To get the best rate, the golden rule is to have a "profile economically correct" and show you more than ant grasshopper. Thus, some savings in a savings plan or a book or a few securities reassure your banker. In contrast, a chronic discovered the wrong impression. The state of your bank account depends on the rate you willing your banker for example, for a rate ranging between 4.6 in a facility O% and 5.95%, the range is assigned the highest the borrower as "risky" than the average range that has a low savings rate and the best one that has a comfortable personal contribution. Nothing prevents you to shop around for banks to compete.
In this case, not compare the rates posted by institutions, but the percentage rate (APR) includes, in addition to interest on the loan, filing fees, the amount of death and disability insurance, disability.
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