In the age of the Web, it is often on the Web that we get information first when we plan to embark on the acquisition of a home.
Sometimes it only takes one or two conversations on the subject to find yourself scrolling through local real estate ads thanks to the multiple dedicated platforms.
And then, even if it means tackling the task, you can also carry out an online simulation in a few clicks in order to estimate the amount of the loan that you could obtain to afford this new dream.
But if it is very easy to get an idea of this envelope, do not take these evaluations at face value!
Two calculations to do
There are two complementary types of online calculators.
Borrowing capacity simulators allow you to assess the amount of credit you could claim.
But it is still necessary to correctly answer the proposed form for the estimate to be even slightly relevant...
“You must indicate your income and your contribution but also your expenses, understood as your current credits or even alimony for example”, explains Maël Bernier, the spokesperson for the MeilleurTaux.com real estate brokerage network.
And be careful, we are talking here about your net income before taxes!
You will therefore have to ignore your withholding tax in the equation.
This first calculator will then tell you an amount of X euros.
But beware of disillusionment because this virtual envelope corresponds to the maximum hypothetically borrowable, without mentioning the interest rate applied, nor the corresponding debt ratio (35% legal ceiling) or even the monthly repayments that go hand in hand.
This is why it will then be necessary to transfer this sum to a second simulator dedicated to the calculation of monthly payments to arrive at a more reasonable estimate of your project according to your lifestyle.
The in-depth analysis
If online simulators are a good way to get started, they are only a first step from your sofa and cannot replace an in-depth analysis with a bank advisor or broker!
"Many factors on a case-by-case basis can block a file which is nevertheless fundable at first sight", confirms Maël Bernier.
Age, state of health but also the current rate of wear – this legal ceiling that cannot be exceeded – have thus quickly forced you to revise your acquisition claims downwards.
OUR “LOAN” FILE
The key word to maximize the realization of your dream?
To anticipate !
Ideally, get a first idea of the budget using online simulators, before making an appointment with your banker or, better, a broker, to make a real financing estimate.
In this way, you will avoid unnecessary real estate visits, to focus on properties that are really within your reach.
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Create an exit door
The real estate market is particularly tense.
The will to move has indeed exploded since the confinements, supported by a democratization of teleworking which encourages many families to move away from their company to gain housing space.
Result: demand is strong and properties are going like hotcakes, both for rental and for acquisition!
Especially since the gradual rise in interest rates is pressing potential buyers who were still reluctant to take the plunge.
But you still have to be able to win this sesame, which is currently complicated due to a lagging wear rate which hampers many files.
In this more than delicate context, it is therefore crucial to always indicate in your purchase offer, then in the sales agreement, a condition precedent for obtaining the loan.
If you do not obtain the expected financing, you will be able to withdraw without penalties.
Similarly, when signing the compromise, do not hesitate to ask for a long sales process, spanning five or six months.
This way you will have time to find solutions if you ever have difficulty obtaining your loan, rather than seeing the house of your dreams pass you by.
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