For 5 years, mortgage interest rates have continued to falter. Those with a real estate project in mind can take advantage of this rate cut to implement it. The existence of credit simulators on a large number of specialized sites allows everyone to take the first step of seeking financing. Whether it is a secondary or main residence, or even a rental investment, this powerful tool is available online and accessible to all.
Records broken regularly
Historically low interest rates are constantly being beaten. And people who have an interesting profile for banks can even benefit from particularly advantageous rates. Indeed, the minimum rate over 20 years in September 2016 is 1.08% and it is possible to obtain 0.90% over 15 years or 0.70% over 10 years. As for the average mortgage rate for the same period, it is 1.60% over 20 years, 1.45% over 15 years and 1.20% over 10 years.
A credit simulation for more details
The credit simulation allows the future borrower to calculate ancillary costs such as that of the notary, to know precisely the amount of the monthly payments and to estimate at the same time its borrowing capacity. This tool allows you to have all the details about your credit to make decisions with all the cards in hand.
The collection of all this information will also allow the borrower to choose the institution to which he will apply for credit. If the rate proposed by the organization often guides the choice, there remain different criteria that may influence the selection of the lending institution.
Finally, in light of this rate reduction, professionals in the real estate sector encourage people who are still tenants to change their status to become owners. Thus, a person who would buy today a property of 70 sqm area would pay for its investment after only 2 years and a half.