How to compare different mortgage offers?

You are looking for a loan to finance your real estate project. You will probably contact several banks to compare their proposals. An assessment at http://fastpaths.com/loans-for-bad-credit-click-here-to-find-bad-credit-loans-online/

But how to compare one proposal reliably with another? It is enough to study carefully the following points:

The interest rate

The interest rate

The interest rate is the primary indicator that institutions report. It calculates the interest you will have to repay each month. If this indicator is useful, it is far from enough for borrowers. In order to have a more precise idea of ​​the amount of your credit, refer also to the Annual Effective Rate and the Annual Effective Rate of Insurance.

First point of comparison.

First point of comparison.

The tin the annual global effectif includes interest to pay every month, administration fees (typically representing 1% of the loan amount) and guarantee fees. All loan offers must mention the APR, which is a first point of comparison. The Prace replaced the Global Effective Rate that applied to real estate loans until October 2016.

To refine the comparison.

To refine the comparison.

To Annual Effect of insurance adds additional information: the cost of the insurance offered by the hotel to guarantee repayment of credit. This is the insurance covering you in the event of death, disability and temporary or permanent disability. This cost represents a significant part of the cost of your credit, it is a point to study absolutely to make your decision.

The total cost of credit: the price truth

This cost corresponds to the difference between the amount of your loan and the total amount of your monthly payments and fixed costs such as processing fees and guarantees. This cost, for proposals of the same amount and duration, will allow you to determine with certainty the most interesting credit offer.

From now on, we only distribute loans from Groupe BPCE’s institutions: Banque Populaire and Caisse d’Epargne. Whether for the purchase of a principal residence, secondary or rental investment, in the new or in the old, we will find the solution best suited to your needs.

 

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