Credit redemption calculator: how to use it
A credit redemption calculator is interesting when you want to get a home loan and you already have outstanding loans. You will be able to find the repurchase of credit at the best rate that will allow you to reduce your monthly payments and get your mortgage without exceeding the maximum debt ratio provided by your bank.
Why use a credit redemption calculator?
When you are looking for a home loan, you will be required to use a real estate mortgage calculator. This will calculate your borrowing capacity based on your income. But sometimes, the loan simulation indicates a mortgage payment too important or monthly payments of consumer credit come to modify and increase your debt ratio.
A credit consolidation can significantly reduce your monthly consumer loans to keep. Thus, the simulation of a mortgage loan becomes possible.
How to make a loan redemption to get a mortgage?
The real estate loan calculator shows the loan rate and monthly mortgage payment over the desired duration. The loan simulator tells you the possible margin so that your borrowing capacity is not exceeded.
With a comparison of consumer credit surrender rates, you can get the credit surrender credit with the longest term in order to have the smallest monthly payment.
The adapted restructuring credit
To group your credits, simply complete a loan application, with your income, your expenses and all of your loans and loans to collect. In the credit simulation, you have to ask for the longest duration to minimize your debt ratio.
The amortization table of your loan buyback will tell you the future monthly installment to add to that of the home loan.
It is better to group your credits before applying for a mortgage loan because otherwise you risk a refusal for the granting of your mortgage because of too high debt ratio.