If you want to buy real estate, whether to invest your money or to live in it, you may need to borrow money from a competent body. In order to put the odds on your side, here are some tips to put in place.
Monitor your accounts
The person in charge of studying your file will take a very close look at your financial situation, in order to assess your usual spending behavior.
During the few months preceding the filing of your file, make sure you are not overdrawn, this is proof that you know how to manage your money, even at the end of the month. If you don't know how to do it, start by limiting unnecessary spending, because your banker will be looking at the details of your monthly statements. The ideal is even to save a little each month, because a more or less important contribution will be required of you. On average, it's around 10% of the total amount you want to borrow, but some organizations ask for up to 20%.
If you are in debt, now is the time to fix it. Make sure you are not listed at the Banque de France or the FICP. If this is your case, your mortgage application will necessarily be rejected.
Finally, it is necessary to have a regular income, a permanent job such as a CDI is recommended if it is not mandatory for some organizations. If your household has two fixed incomes, you are definitely putting the odds in your favor!
Note that monthly payments should ideally not exceed 33% of your household income, remember this when calculating your future monthly payments!
Prepare your file well
If you are not sure that you can achieve an optimal file, why not call a broker? This is a competent person who will take care of gathering all the information needed to create the file for you and take certain steps.
If you want to fend for yourself, make sure you are as clear and specific as possible. You must be able to defend your project, answer any questions from the banker about your ability to repay, your motivations, your plans for the future, etc.
In all cases, certain points should be evaluated to increase your chances of success:
If the home you want to buy is in an area that is dynamic, it means that it can be sold easily, which represents additional security for the bank.
Think carefully about the length of time you want to repay your mortgage: the more monthly payments, the more cautious the banks are!
Negotiate everything, whether it's administrative fees, interest rates or insurance: the market is competitive, you can choose to borrow in one place and take out insurance in another, nothing prohibits it and it can save you money.