As seen above, the multitude of mortgages complicates your choice. Using the online real estate credit comparison tool makes it easier for you to choose the right mortgage for your situation. The comparator will aim to guide you on what type of mortgage to choose and in a second time, you will compare offers for the same credit.
The determination of the mortgage
To subscribe to a mortgage that corresponds to your situation, a real estate credit comparator will start by asking you for information about your personal situation.
To begin, the comparator will ask you to define your real estate project namely the amount, the duration of borrowing, if you have a contribution or not, the type of property you want to buy, the locality of the property, if this well is intended to be your main residence or other.
Thereafter, your personal situation will be studied, the comparator will ask you about your family situation, the number of people who make up your home, your monthly income, the banking institution to which you are attached, if you have a credit already in progress, your sector of activity, your job, the nature of your employment contract, whether you are currently a tenant or owner.
This is not an exhaustive list of the items requested by the various comparators but this will guide you on the information to prepare to carry out your project.
Once the items are filled, the comparator will submit several offers and will target the nature or types of real estate loans to which you can claim. Indeed, some home loans can be complementary to finance the entire cost of your project. For example, the zero-interest loan can only finance part of your project and should, therefore, be accompanied by another type of mortgage. To know also the regulated credits are granted only if you answer the conditions defined by the State itself, the comparator thus has for a role to direct you or not towards these regulated credits which are generally the most advantageous for you.
The phase of determination of real estate loans corresponding to your situation being finished, the comparator will submit you various offers. The difference between the offers can be made on the nature of the mortgage but also for the same type of credit on tangible items between financial institutions such as rates. It’s up to you, once the different offers in hand, to make your choice. The comparator points you but you remain decision-maker as for the final choice. Generally, you orient yourself towards the offers which will reduce as much as possible the total cost of your mortgage but you can also make your choice according to certain guarantees like insurance, etc …
All offers offered by the comparator also direct you to the financial institution to which you send. This comparison is useful to simplify your steps when you want to acquire a property. Beforehand, however, it is advisable to inquire about the commitments of the proposed mortgage credit before accepting any offer suggested by the comparator.