Real estate loan with purchase of consumer credit – Solutis
It is possible to redeem your consumption credits and finance a home loan at the same time, either by including the amount dedicated to the purchase of real estate in the purchase of credits, or by applying to a bank for a loan. classic real estate.
Include the mortgage loan with the purchase of consumer loans
The repurchase of consumer loans makes it possible to buy several consumer loans (car, personal, renewable, works), which makes it possible to standardize the duration of repayment and especially the monthly payment. This operation may also reduce the amount of the monthly payment to a greater or lesser extent, which makes it possible to envisage a possible new need, subject to acceptance by the credit institutions. Good to know, the extension of the duration may result in an increase in the total cost of credit, the lower the monthly payment, the more the total cost of credit will tend to increase. It is possible to include an amount dedicated to a real estate project in a purchase of consumer credit, it may be work, financing the purchase of a house, an apartment, etc. This type of financing is subject to study, it is free and without commitment.
Advantages and disadvantages
The advantage of this solution makes it possible to centralize the financing within a single establishment, to be able to adjust the amount of the monthly payment and the duration according to its needs, and especially of its capacities of refunding. The disadvantage is the feasibility of the file and the amount that can be obtained for the purchase of real estate.
Subscribe to a real estate loan and buy a conso
Another solution is possible, that of the purchase of credits and mortgage. The idea is to redeem its consumer loans to reduce the amount of its monthly payments and then take out a mortgage for the purchase of the house, apartment or land. This financing is possible under conditions of receivability of the borrower, that is to say that its debt ratio (see our calculation tool) must allow to absorb a repayment of the mortgage without compromising the financial health of the borrower. the borrower. Again, a study is needed, we must first focus on the purchase of consumer loans to know the feasibility of the project and therefore the amount it will be possible to subscribe after redemption of the loans.
Advantages and disadvantages
The advantage of this solution is to dissociate the two operations by having recourse on the one hand to an expert of the repurchase of credit and the other to an expert of the mortgage loan. Rates can sometimes be more interesting for real estate credit, subject to study. On the other hand, these are two distinct operations and therefore this involves the processing of two files, which lengthens the processing times.