The mortgage rate does not sum up a loan on its own.

Before wanting to worry about a loan, you must always keep in mind that any loan is not just a mortgage rate.

What are the parameters to take into account to make the best possible decision when borrowing?

What are the parameters to take into account to make the best possible decision when borrowing?

Indeed, even if they may not spontaneously come to mind, many other parameters are also to be taken into account in order to obtain the mortgage loan most suited to your situation as a borrower :

  • the borrower insurance rate in particular;
  • exemption from early redemption indemnities (IRA);
  • transferability of the loan;
  • the modularity of the loan.

It therefore seems important to turn to a professional to ensure you all the best financing conditions on the market. Indeed, negotiating the mortgage rate well is not given to everyone!

Ask an industry professional to take out your loan or buy back your loan

Ask an industry professional to take out your loan or buy back your loan

With Lite Lender, expert in real estate lending and loan insurance, you are guaranteed to obtain a competitive rate, via a quality service, efficient but also fast. For this, the firm puts French banks and partner insurance companies into competition and will defend your project as it should.

You are supported throughout the purchasing process so you can ask any questions you have to be reassured!

Your advisor can negotiate for you a first mortgage rate for the purchase of your property but he can also take care of the repurchase of your current mortgage (also called repurchase of mortgage).

Indeed, many owners have obtained a loan with a much lower mortgage rate than those currently offered on the market. Therefore, it is advantageous to negotiate this mortgage rate again in order to get a better one and save money.

Whatever your initial request, in order to negotiate the mortgage rate according to your profile, trust an expert in real estate brokerage and let him get you the best market rate possible, all parameters combined.

TO REMEMBER !

  1. The mortgage is not only about the rate, there are other parameters to take into account
  2. The broker will accompany you throughout your process
  3. Call on Lite Lender, mortgage loan expert, to find you the best performing mortgage

Small loan despite Credit bureau.

The banks also check the data in the Credit bureau for a small loan, which most consumers are not even aware of because the process runs in the background. Of course they have to sign the so-called Credit bureau clause, but many do not pay attention to it. It becomes difficult when the creditworthiness is poor. Then even a small loan can fail. But with a good credit rating it is not an issue to get a small loan despite Credit bureau.

Who grants small loans?

Who grants small loans?

All banks issue small loans and the banks outbid each other with their offers. In addition to the branch banks, all of which now also have an Internet presence, pure online banks have appeared on the market in recent years. Most of them have no branch network and can only be reached online and by phone. Due to the lower personnel and business costs, they can grant their loans more cheaply than the branch banks. The result is lower interest rates and better conditions. A small loan despite Credit bureau is possible here at any time. Of course, you also pay attention to the applicant’s creditworthiness.

Credit with negative Credit bureau with guarantor

Credit with negative Credit bureau with guarantor

Many consumers prefer the offers of online banks. This is not only due to the lower interest rates and better conditions, but also because a personal appearance is not necessary and is even not possible at all. The loan seeker can easily complete his application online from home and within seconds the bank will let you know whether a loan is possible despite Credit bureau or not.

This is not only practical, but also pleasant, because there is no need to talk to the bank advisor, who always asks why the loan was given. With the online banks there is no need to specify a purpose. The only exception are real estate loans, because they can only be used for this purpose.

Credit during separation year.

Being creditworthy as a working single or as a married couple is not a particular challenge. Regulated living conditions are one of the most important security criteria for serious loan offers.

The problem with credit during the separation year is the lack of financial planning security for the future. We will present you with the hurdles you have to overcome, how you can convince the bank with your loan application and alternative solutions.

Credit during separation year – comprehensive problem

Credit during separation year - comprehensive problem

It is not easy for a clerk to grant a loan during the separation year. The credit requirement and its meaningfulness are understandable. A partner moves out during the separation year. He needs money for the rent deposit, for new furniture and possibly even a vehicle.

But the approval does not depend on the clerk’s understanding of the difficult situation. He only has to assess the risks of separation for the desired loan. He needs secure proof of repayment ability even after the divorce. Without a guarantor or co-applicant, the loan approval is very risky from the bank’s point of view.

Main earners don’t necessarily have an advantage

Main earners don

For the main earner, his risk assessment does not include the income shown in the current income statement. It is much more important to clarify the question of future income after the divorce. The court calculates the maintenance to be paid by the main earner individually.  However, the requirements are not binding on Heller and Pfennig. How much money the main earner has left for a living after the divorce can only be seen after the divorce decree.

In addition, there are divorce costs as an unknown risk factor. Some couples split up by amicable sharing of assets and debts, then divorce is cheap. If the values ​​in dispute skyrocket, since the separation couple does not agree, only one is happy – the lawyer. Its settlement and the court costs are based on the amount in dispute. If the couples manage to get “right in the wool”, the conjugal fortune is often not enough to settle the bill. Additional, unpredictable amounts of debt also do not speak for risk-free lending.

Credit during separation year – dependent partner

Credit during separation year - dependent partner

The dependent partner also has to deal with similar difficulties as the main earner. What actual maintenance the partner has to pay is difficult to estimate. Previously, income from a part-time job provided security for lending, but now it is difficult. A smaller income is often not enough to exceed the newly defined personal garnishment exemption limits.

If the partner pays maintenance on a regular basis, there is no guarantee that this maintenance will be available in the same amount later. Especially when couples separate in a strife, the debtor does everything possible to pay as little as possible. He would rather accept a penalty from the authorities and additional costs to annoy the ex-partner. If necessary, he quits his job. He works as a freelancer with an opaque income, hides abroad or simply does not pay on time.

Interim conclusion – credit during separation year:

Lending for a regular installment loan without a guarantor is extremely delicate from a credit security perspective.

What credit opportunities remain – quick credit solutions

What credit opportunities remain - quick credit solutions

It is easier for the clerk to grant a loan as a short-term loan during the separation year. The bank can cancel short-term loans much more easily than a long-term installment loan. At the same time, typical short-term loans, such as overdrafts or credit cards, are among the “gold donkeys” of money transactions.

An example of the risk being worthwhile for the bank would be a small loan of over 3,000 USD: the bank earns only 32.14 USD on the 3,000 USD installment loan from the loan comparison with a one-year term. If she gave the money as an overdraft, she would earn (not including repayment) around 500 USD from the loan. (Calculation basis for Sparkasse’s dispo rate of 16.88 percent as of April 2016).

If a smaller loan is sought during the separation year, various online providers offer the microcredit as a risk loan. The small loan comparison shows interesting offers for 100 to 500 USD net loan amount.

Maturities for mini loans vary between 30 and 90 days. The credit requirements for most offers are very easy to meet. From around 500 USD net income, even in spite of poor creditworthiness, one can hope for a loan during the separation year.

Installment loan during the separation year – private investors

Installment loan during the separation year - private investors

The names Good Finance and Best Lender stand for serious loan offers under difficult circumstances. Both portals are considered the market leader in credit brokerage from private to private. Loan requests for a loan during the separation year fit very well into the credit concept of private investors. Anyone who lends their money to a private investor decides regardless of the legal framework for commercial lending.

Taking on a higher credit risk than a bank is part of the winning strategy for private financing. However, the risks for investors are not clear. The loan presentation and the dialog show which loans are expected to be repaid.

The loan is also approved in the bidding process. Every investor only risks a very small loan amount. If enough donors trust the ability to repay and offer, the loan is granted privately during the separation year. A bank is now responsible for further loan processing. The bank accepts payment of the partial amounts from the various investors. Then she transfers the loan to the borrower in one sum.

Credit comparison – 2,000 dollars overdraft versus installment loan

Are you looking for a loan of USD 2,000 and don’t want to take advantage of the very first offer despite the small loan amount?

Our borrower provides all the important information for borrowers who also think carefully about “small” loans. Learn how the money is quickly available without paying high overdraft rates.

If banks reject your credit requests, but you need the loan, we will inform you about current offers that still offer serious credit opportunities.

A 2000 dollar loan – a well-considered decision pays off

A 2000 dollar loan - a well-considered decision pays off

With a loan of 2000 dollars, nobody makes an unmanageably high repayment obligation. Small amounts of credit tempt you to act lightly. Card payment minimizes the perception of how much money has actually been spent on purchases. The overdraft facility allows the checking account to overdraw about two monthly salaries. With an average net income of 2000 dollars net, it is 4000 dollars overdraft facility.

Credit card providers grant a loan in a similar way. The current account in most households comes with a Visa card or Mastercard. Nevertheless, it is worth making a decision carefully. The overdraft facility in Germany costs between 12 and 17.5 percent overdraft interest. The interest rate for a Visa or Mastercard loan is around 15 percent.

Once the account is in the red, the way back is difficult. For a loan of 2000 dollars, 14 percent effective interest, the borrower pays interest of around 280 dollars per year. Cleverly hidden in short billing periods, interest of USD 23.34 per month is not noticeable. Only a loan comparison shows how expensive a convenient loan is even with small sums.

Credit comparison – 2,000 dollars overdraft versus installment loan

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Loan offers at interest rates that are independent of creditworthiness are really safe and generally binding. Every borrower who has sufficient creditworthiness to obtain a loan receives this interest rate. If a loan amount of USD 2,000 were requested via a free credit comparison, the credit comparison shows 1.79 percent effective interest as the cheapest offer. (As of June 2016).

With a normal income, no excessively long terms are necessary for a loan of USD 2,000. Payments could be made in 12 to 36 monthly installments, but 24 payments should be enough. During this term, the loan calculator calculates the monthly installment at USD 84.88. The loan calculator shows the total cost of the loan at USD 37.20. For better comparability, at 12 months it would be only 19.29 dollars.

The credit via the overdraft facility or the credit card costs a whopping 280 dollars in interest in 12 months. Even rescheduling just USD 2,000 in loans could save USD 260.71 in interest per year. Or maybe an even more impressive number? For 1 year overdraft interest, the interest on the installment loan can be paid in the same amount for 14.5 years.

In view of these figures, does anyone dare to doubt that thoughtful action pays off even with small amounts of credit? Probably everyone is now considering how quickly their own overdraft facility would be possible.

Fast installment loan – small loan via Good Finance

Fast installment loan - small loan via Good Finance

Online installment credit has always been known for its interest rate advantages. However, in the past, it was not uncommon for a credit procedure to take up to 10 working days before the money could be paid out. The quick credit from the Internet was slowed down by the Post-ID procedure. The legislator prescribes the identity check, it cannot be avoided. But the postal route would be dispensable.

If a loan of USD 2,000 is requested today, the borrower has the choice. He can speed up the process extremely if Good Finance is chosen for the legally binding application. An employee calls the borrower via Skype and video telephony within 30 minutes to check their identity. The ID card and the requested documents are held up in front of the camera.

The identity check is completed after a maximum of 5 minutes. The application is considered legally binding and the bank can begin the final credit check. From 10 days until the approved loan can be paid out, many providers have now become 48 hours. Only the overdraft facility is even faster, but that should be compensated for because of the interest costs.

2000 dollar credit – despite weakened creditworthiness

All of the above information is of little help if regular credit institutions see problems with lending at a loan amount of USD 2000. Problems arise when the score shows a recognizable credit risk. Not even a past personal misconduct has to be decisive. Even with a clean Credit Checker, the score can be negative if comparison groups prove the risk.

The case often arises when the borrower’s neighborhood does not represent the best address. Or the employer does not have the best reputation because it is a temporary employment agency. In this case, a maximum loan of USD 2,000 would be possible through a guarantor or co-applicant. But, modern placement offers know serious alternatives.