On this site, we will allow you to see more clearly about the loan universe. It must also be said that all this deserves to be clarified when we see the multiplicity of types of credit: real estate credit, consumer loan, personal loan, credit redemption, pooling of credits, renegotiation of your mortgage, in short, it there are many different types that we will explain over time on our site entirely dedicated to the theme and everything related to near or far.
Between the site and its blog part, we will allow you to find concrete definitions and answers to questions you ask about credit such as: what is the average cost of a mortgage? or again: what is a personal loan?
Possibility of borrowing simulations
In addition to information, one thing that attracts and most often interests borrowers is the ability to simulate a bank loan and see what the consequences on their budget. With our free real estate calculator online you can perform as many tests for your loan simulation as you want and start to consider passing through an accredited body and able to accompany you to the best solution for your finances.
Indeed, although we offer you on the site a calculating tool representative of what your mortgage can be once you have signed it, you must always go through an authorized lender such as a bank or broker in credit.
Realize a loan simulation: what interest?
You may be wondering after reading what we have just said about the interest of doing a simulation loan knowing that anyway, it will reiterate the latter with a duly authorized body? It’s quite simple, it’s actually an opportunity to prefigure what will be the reality of your credit once you have subscribed, it is an estimate .
Indeed, if the result of a query launched in a loan simulator is not official, it has the advantage of being able to give you a relatively accurate estimate of the monthly payments that will be yours depending on the amount total of your credit over a pre-established term and loan rate. After that, you just have to juggle with the different rates that you can see on the left-hand side or that will be announced in the various communications that you will see and / or receive.
Benefit from a rough vision of reality through a loan simulation will have several strengths like that, for example, to imagine what will be the purchasing power that you will remain according to the monthly payments that will be yours. Obviously, everything depends on the type of credit and all credits do not have the same issues, we agree (the consequences are not the same for a small consumer credit (because you want to make you happy) with a hobby a little more expensive than your usual hobbies) and a mortgage that represents a commitment, sometimes a lifetime.
Information needed to make your credit simulation
Here are the elements you need to have in mind to be able to do your credit simulation. You need :
- an idea of how much you want to borrow from the bank (or other credit institution),
- the length of time you want your loan to last (the period during which you will repay the monthly payment to the lender)
- the interest rate offered to you by the lender or the one you would like to obtain and around which you will potentially try to negotiate.
- possibly the percentage you will pay for the insurance in the case of a mortgage for example.
With all these elements at your disposal you will be able to exploit the simulator and see accordingly what this represents as monthly payments. Depending on the amount, you will be able to:
- either try to regulate them by increasing the duration during which you will borrow the same amount,
- either try to negotiate with the lender to lower the interest rate,
- either try to negotiate for insurance or whatever.
Remember that in addition to the interest and any insurance costs on your loan you will also have to pay fees such as fees.
Finally, you may also not be responsible for this search for the best rate for your credit and entrust this to a credit broker who will do the research for you. If applicable, you will also have to add to the other fees of your loan the fees of the broker you choose.
And if you planned, a little? Finally
One can easily imagine on an informative site of this kind and on a theme as particular as the world of the credit and all the facets that this last one can cover (negotiation of a mortgage at the best rate, obtaining the best insurance at the best price to be a borrower both satisfied and serene,) many people will say since it is only simulation so much to go directly to the door of any lending agency and see what it gives.
This is not completely false, and by the way, by doing so in a haphazard way, we might say, to use the term “consecrated”, you could find the rate you need and reduce current or current monthly payments. future to be able to maximize your purchasing power and continue to enjoy a lot of fun sometimes expensive (such as travel, such as important goods in the life of your home and which cause you the most expenses (here we think vehicles especially motor), or even various consumer goods) but which are sometimes very enviable and for which we would like to believe that it is possible, once that time to get them.
Except that here you could just as easily push the door of a lending agency at a time when the latter does not offer a very interesting rate or TEG, either because the period does not allow it or because it does not have a compelling need to recover new accounts receivable from the wallet, and so be frustrated at not getting or hoping for what you want. Borrowing simulation tools are also used for this purpose. Have a rough idea of the rates charged so that by taking our example above, if you do not have the chance to push the right door at the right time, you are aware and you have the reflex to push to at least a second to see what it gives. If we invite you to reason in this way it is because we are highly convinced of the importance of loans in the life of a home. To be convinced, we invite you to simply continue your reading below (before going to consult our blog dedicated to credit in all its forms of course).
Borrowing simulation and calculations
To help you, brokers and credit professionals generally seen just above, whether for a buy-back, a property on first accession or for a personal loan (and even professional), simulate with you, according to your resources and your borrowing capacity the amount they can make available to you. The calculations are based on the rates charged, to which must be added a fixed sum for the credit insurance in particular. This allows for a monthly repayment over the duration of the transaction. When borrowing, the interest is repaid first and the operation ends with the borrowed capital residue. This is one of the reasons that motivates simulations of loan redemptions .
In the logical sequence of a credit or loan simulation, the goal is to finance something inaccessible by own reserves. Let’s look at two cases, consumer credit (or personal loan) and mortgage.