Choosing a mortgage loan brokerage procedure, what advantages does it offer?

The mortgage brokerage service is not yet well enough known by everyone, and yet it should be! It is the service that will save you time, energy and money when you borrow to buy real estate.

The mortgage broker is there to save you time, he will look for the best possible credit offer on your behalf

The main goal in opting for a mortgage broker: to make your life easier!

The main goal in opting for a mortgage broker: to make your life easier!

In fact, looking for real estate is already a major source of stress and anxiety. It takes a lot of time, requires availability and patience. But this is only the beginning, because once the property of your dreams is found, you will need to apply for a loan from a bank and above all make sure of your financial capacity.

Let’s assume that you decide to do this by yourself, you will then have to: ask your bank. That is to say, succeeding in making an appointment quickly with your bank advisor, giving them personal and professional information and waiting for their return as to the feasibility of your real estate project and the offer that could result. to follow.

This step, you will have to repeat it with several banks because the objective here, is to compare the banks between them and obtain on your side the best offer. Please note, you will also need to take into account the insurance rate.

In fact, your loan is not only limited to the bank’s interest rate but also to the insurance rate and other additional conditions. Obviously, the banks will make sure to offer you their insurance rate (which can be a good rate but also a much higher rate than if you had gone through another insurer).

Make the good choice

Make the good choice

You will understand, this process is long and will require a lot of time. This approach also requires some market expertise, to know what is offered by the banks, and by the various insurance establishments. Without forgetting all the other additional criteria such as prepayment penalties for example.

TO REMEMBER

  1. Your real estate broker is paid for the result, only if you have set up the loan negotiated by him
  2. Using a free broker is like asking a live bank
  3. Entrusting your financing to a traditional broker is the assurance of obtaining the best financial conditions on the market
  4. The fees of the real estate broker are the consideration for the elimination of bank charges, so they should not exceed $ 950

 

Replacement loan and liquidity: how does it work?

 

Have you ever heard of the mortgage for replacement and liquidity? If you already have a mortgage for the purchase of the house, but you are unsatisfied and need more liquidity, you can ask your trusted Credit Advisor for the possibility of paying off the old mortgage and taking out a new one, at more advantageous economic conditions for you.

Find out in this guide how the replacement loan + liquidity works and what are the possible benefits to be exploited for your benefit.

How does the mortgage replacement + liquidity work?

How does the mortgage replacement + liquidity work?

Thanks to the law of 2007, it is possible to transfer a mortgage, closing the one in progress with the lender and accessing a new loan from the most convenient credit institution.

With the replacement of the mortgage, the borrower has the possibility to request additional additional liquidity to face the expenses for the restructuring or for other needs.

The replacement and liquidity loan grants the borrower up to 80% of the property value and usually has a maximum duration of 30 years . The borrower has the option to opt:

  • for the fixed rate, to be sure that the installments will remain constant for the entire duration of the amortization plan;
  • for the floating rate, to take advantage of the advantages of the financial ratios;
  • for the variable rate with CAP, which places a ceiling on interest to prevent the installment amount from growing too high.

Advantages Mortgage replacement + liquidity

Advantages Mortgage replacement + liquidity

The replacement provides for the early repayment of the mortgage in progress at the lender and the stipulation of a new mortgage at more advantageous conditions for the borrower at a new credit institution.

Replacing the mortgage can be an interesting solution to distribute the repayment of the installments over a longer period of time, in this way you can lower the amount, even if it can lead to an increase in the expenditure, sometimes even expensive.

Even if the amount lent by the lender exceeds that of the residual debt, the tax benefits to deduct the interest do not change and are not lost.

As regards the premium of the property insurance policy, it is included in the total cost of the mortgage.

How long to choose for a car credit?

More and more consumers are preparing to apply for a car credit to finance the purchase of a new or used vehicle. Faced with the term of the loan. When faced with the choice of the duration of the loan, buyers often find themselves in difficulty, especially when, for example, it is a question of comparing the loan offer with a lease. What are the advantages of short, medium or long term financing when it comes to financing the purchase of a car? All our explanations and advice.

 

Why choose a credit and not a lease?

car loan

If the solution of a leasing is today the most popular method for the purchase of a vehicle, the choice of the private loan increasingly attracts the buyers. But let’s see in detail this method of financing:

  • It allows to finance the vehicle in whole or in part. For example if the buyer already has funds, he can apply for a private loan to complete the missing amount for example.
  • It ensures total freedom for the buyer in terms of the make and model of the vehicle, but also as regards insurance (full or partial helmet), and also allows you to resell the car at any time.
  • Avoid having to re-purchase the vehicle at the end of the contract (or to resume a lease).
  • Finally, it allows tax deductions that can prove interesting.

 

Buying a car with a credit, all the benefits

Buying a car with a credit, all the benefits

As explained by the Lite Lender company on its website in the section dedicated to auto credit, choosing to apply for a loan to buy a new car has numerous advantages. Consult the section of this site to find out more.

 

Financing from 12 to 24 months

financial loan

A short-term loan is in principle reserved for customers who have a sufficient budget to guarantee a high monthly repayment and therefore allow to reduce the interest to be paid. It is also a good solution for people who are looking for a cheap vehicle or already have their own funds. Indeed a short-term credit:

  • It allows to reduce the total interest and consequently the “cost” of the credit
  • Monthly installments are higher

 

Financing from 36 to 48 months

Financing from 36 to 48 months

This type of medium-term financing is one of the most balanced solutions, because it avoids excessive total interests and at the same time guarantees a controlled monthly invoice:

  • Total interests balanced
  • Balanced monthly installments

 

Financing at 60 months and more

Financing at 60 months and more

Choosing a longer repayment term allows you to decrease the monthly cost, but it implies a very high total interest cost. For a type of long-term loan, it is therefore important to benefit from the lowest rate possible. This type of financing

  • It allows to reduce the monthly cost
  • It has a higher total cost

 

Who to contact?

car loan

As always, the best solution is to appeal to a specialist. Lite Lender also offers auto credits at the best rate, guaranteeing the free analysis of each applicant’s dossier. More than evaluating an offer, it is particularly important, for example, regarding the choice of the repayment period, to have a real consultancy service.