the best bank for your mortgage SourceLoans 

What is the best bank for your mortgage Source

Are you planning to buy real estate or have you already signed a sales agreement and are you wondering which bank to choose for your real estate financing? For this you wonder what is the bank that offers the best rate of the moment for your mortgage? Should we favor large banks such as Banque Postale, Société Générale, etc.? ? Or on the contrary go to a regional organization, an online company such as Boursorama or banks specializing in real estate such as Crédit Foncier or Crédit Immobilier de France? Dozens of companies to finance your real estate purchase Banks or credit organizations willing to finance your house or apartment there are several dozen. So how do you know which bank can offer you the best interest rate for your financing  ? You have the choice between:  Large national banks such as La Banque Postale (subsidiary of La Poste Group), BNP Paribas, Crédit Agricole, CIC, LCL, Société Générale, Caisse d’Epargne, Banque Populaire, Crédit Mutuel, HSBC, etc.  Specialized organizations that only have mortgage loans such as Crédit Foncier or the former Crédit Immobilier de France.  Regional banks such as Banque de Savoie, Bank of Brittany, Laydernier, Crédit du Nord, Société Marseillaise de Crédit, etc.  Online banks such as Boursorama, Fortuneo, ING Direct, etc.  Major insurance groups that also offer banking services such as Axa Banque, Groupama Banque, etc.  Credit specialists who finance real estate projects like Cetelem Immobilier. Each company defines its own mortgage credit policy based on its objectives, funding opportunities, targets, and so on. We thus find for each bank a rate grid for different profiles and different durations of borrowing. It is impossible to tell you if La Poste is the best or the one of the Société Générale or another since these grids of rates for real estate financing vary according to many parameters that we will detail below . The rates of each bank vary over time Each banking organization regularly changes its rate policy. For some, it will be very regular (every week or every 15 days), for others it will be a little more distant (every month or more rarely every quarter). The conditions that the same bank can offer you may vary from one moment to another depending on their new rate schedule and the adjustment of their policy according to their needs and objectives, financing conditions. in markets, etc. In addition, banks must comply with certain prudential rules, particularly with regard to solvency. They can therefore lend in volume only an amount that depends on their own funds. This is why you will never find the same conditions between two periods of time and that even within the same bank branch. On some files, it may even happen that advisors urge you to speed up your file before a rise or, conversely, to wait a few days before a rate cut. If yesterday it was the Banque Populaire which proposed the best rates for real estate because they had decided to be very competitive on this niche there. This may no longer be the case today with, for example, a competitor like Crédit Mutuel who will gain the upper hand today. And in a few days or weeks, it will be another bank or another credit agency. Rates that vary from one region to another You may have already read articles about rankings by some brokers to find out which cities have the lowest real estate rates. You will not borrow in Strasbourg when you finance a property in Toulouse. These comparisons between regions are therefore only of interest to show that the conditions vary according to the place. This can be explained by different factors: the level of real estate prices in this region, the outlook for the evolution of these prices (more or less risk of decline or, on the contrary, of potential capital gains), the specific policies for certain regional entities, etc. Thus the Caisse d’Epargne Rhone Alpes Lyon may be more interesting for you than the Crédit Agricole Center-Est while in Brittany it may be the Crédit Mutuel de Bretagne that will offer you the best financing conditions. Your personal and professional situation strongly impacts your borrowing conditions Each bank will study in detail your borrower profile and rank you in one of their categories. These are different from one society to another and may even change over time depending on the strategies of each organization. Your situation will therefore be studied in a magnifying glass: what job you do, what are your income, your mode of consumption, your profile saver, your situation is stable (official or permanent or contractor, temporary or CDD) , etc.)? These criteria for a single or multiple loan will allow the bank to judge the level of risk you present and your ability to repay. The more interesting your profile will be for the bank, the more it will be able to offer you a low interest rate for your home loan. Each bank has its own criteria and its own ranking. Your file may be better perceived in one organization than another. You will find in our follow-up current average rates of benchmarks compared to what is currently done. However, this will not replace a real simulation with your actual situation. In any case, it is always good to do your best to get closer to what banks are looking for the most. To help you, here are 15 tips to improve your borrower profile and get a better rate . So, how to choose a bank for your mortgage? To find when you need the bank that is ready to make the best proposal for your financing, you are forced to compete by comparing the loan offers of several banks at that time:  Either by doing it yourself: it can take time. It is often necessary to go back and forth between different organizations to show what the competition offers you and see if they can offer you better conditions, etc.  Either go through a broker: this saves time since the broker will do this. But again, there is no guarantee that another broker or bank will not be able to make a better overall offer. Your project is well advanced and you want to receive free loan offers for your real estate purchase. Do a mortgage simulation . This will take only few minutes. To accompany your loan, you will need a borrower insurance, here is what compare mortgage insurance . You can also do a simulation for a repurchase of your loans Source

Related posts

Leave a Comment