Without contribution, it is necessary to define the exact amount of the mortgage and therefore to integrate the costs into the operation, it is for this reason that a calculation is necessary to define the exact amount of the financing allowing to become owner or to invest in stone.
A more complex mortgage calculation
A borrower without contribution will have to borrow more to cover the amount of the costs related to the operation, there are first of all the costs of setting up the credit and the guarantee costs, the fees of the notary as well as the registration mortgage in connection with a mortgage and the costs of deposit for a bank guarantee. What is more, the feasibility without contribution will require a close analysis of the borrower’s situation to ensure that the latter is able to get into debt for the duration he wishes and that he will be able to repay the monthly payments.
The contribution has a guarantee effect, that is to say it reassures the banks on the sums which will be loaned and therefore on the repayment of the latter but it also makes it possible to cover the costs, thus leaving room to a simpler calculation of borrowing capacity. Without input, this calculation is therefore more complex and may require more time on the part of bank advisers.
Calculate a mortgage without contribution
To calculate this home loan, the borrower without contribution will have to start by filling out a simulated home loan by specifying the amount he wants and the repayment period. The calculation will revolve around these requirements and will allow us to study the various possible scenarios knowing that without any contribution, the sum to be reimbursed will have to include all the costs, we then speak of a 110% mortgage.
This calculation will be feasible from the information of the borrower, it will therefore have to specify in addition to the desired credit amount its current expenses and its income to be able to make two essential calculations in the context of a home loan without contribution: the current debt ratio and after financing but also the rest for living of the borrower, before and after financing. These two calculations will condition the obtaining of financing.
Credit calculation without contribution: the simulation
It is possible to calculate yourself the amount of your home loan without contribution, it is enough for that to deposit a request in the simulator, a comparator makes it possible to automatically probe the credit establishments best positioned and especially which can respond favorably at the request of the borrower taking into account the fact that he has no personal contribution to provide in the financing.
After validation of the data entered, the first offers of real estate loans are made to the applicant and the latter can see the result of the feasibility calculation carried out by the various credit institutions. It is a relatively simple and above all effective approach because it is free.