How to find mortgage financing
Are you looking for a mortgage? How to find financing for the acquisition of your first property?
A lot of people, just like you, are wondering, and we have some answers for it.
Indeed, in recent years, everything has been done to discourage new owners from investing in stone, the more the years pass, and the more there are particular constraints for the granting of a mortgage loan. The most recent is the financial contribution of 10% of your own funds other than your pension fund (LPP). These own funds can come from your liquidities, a repurchase or pledge of a 3rd pillar, a donation, or an advance on inheritance as well as on the increase of the mortgage credit of a relative. The amortization of the 2nd rank of the debt in a maximum of 15 years is also a new condition (previously 20 years).
Another point not to be overlooked is the real estate purchase costs (Notary, Land register, Transfer rights, and creation of mortgage certificates). They represent between 4% and 5% of the purchase price and may possibly be included in the financing under certain specific conditions.
The first thing to do is to call on a professional, so a financing broker, the latter will save you time, directly target the maximum loan value that you are entitled to and make a full tender. from all providers on the market, including insurance companies, banks, and possibly pension funds.
The work of the broker is generally free for clients, the broker is paid directly by the institutions according to the mortgage contracts brought in. The interest rates that you will be charged by the bank will not be higher to pay the broker, but often lower than if you go directly to the bank, because the broker has some negotiating power with financial institutions. following the volume of business that we bring them.