In order to optimize your visits and your search for real estate, some brokers carry out a first simulation by telephone. The purpose of this conversation can be to determine precisely whether your real estate project is feasible , or even to determine the maximum value of the real estate on which you could make an offer to buy.
This telephone simulation will save you precious time in the search for the property of your dreams, not only because you will only make “useful” visits , but you will also be able to reassure the seller on the feasibility of your project (we explain how in the rest of this article). It can be a formidable weapon for you if you are in competition with other potential buyers!
A 5-minute conversation by phone can win you your purchase offer! Why deprive yourself of it?
Should the mortgage loan simulation be done by a bank or by a broker?
All banks can provide you with a mortgage simulation. But this simulation unfortunately has only little value because the bank advisers , very little trained in mortgage credit so as not to be interested in its implementation (unlike the sale of insurance, various credit cards, telephone subscriptions etc.), rarely know all the elements to take into account to ensure the feasibility of your real estate project .
A mortgage broker , on the other hand, is hyper-specialized in mortgage credit . He knows all the tricks and will study your personal and professional situation to be certain that you can acquire the coveted property! Besides, he earns his living by providing home loans to his clients. It therefore has no interest in telling you that your project is feasible if it is not (and vice versa, but this is less often the case ?). Not only because he cannot be paid if he cannot finalize your file, but also since he wishes to fight on your file to get you the best loan conditions.
Some brokers can even provide you with a document attesting to the feasibility of your project after this simulation. You can then send it to your seller to reassure him and encourage him to accept your offer!
Lite Lender, mortgage broker in Paris, can send you this “letter of admissibility”.
85% of the firm’s clients have their offer to purchase accepted thanks to this document!
And after the mortgage simulation?
And after ? If you are actively searching, a good mortgage broker should contact you regularly to keep abreast of the progress of your research and if necessary refine your mortgage simulation!
If your offer has been accepted – thanks to the admissibility letter or not for that matter – a good broker should receive you within 24 to 48 hours in order to prepare your loan file to send it to the banks. If he is responsive to you and clearly explains his way of working, you can be sure that he will fight on your file as if it were his own loan file ?
Being received quickly is the assurance of obtaining your loan in strict compliance with the condition precedent of obtaining a loan mentioned in your sales agreement. You will generally have 45 to 60 days to obtain your mortgage.
Being received quickly by a real estate loan broker will also allow you to determine with him the financing plan that suits you best (duration of the loan, technique for putting together your adapted loan file, loan insurance, etc.).
You will probably trust him with one of the investments of your life, so trusting him is easier if you know him and his work environment!
Once your file has been assembled and sent to banks, your broker should keep you informed of the progress of his research and come back to you with a firm and final agreement within 10 days .
In any case, it is the Lite Lender method: proximity to our customers, responsiveness and efficiency are our watchwords!
Our firm supports you from A to Z in the search for your mortgage
With Lite Lender, you can:
- Discuss with an advisor via a telephone appointment to confirm the feasibility of your project and ensure that your offer to purchase is accepted in 85% of cases by your seller.
- Get an appointment in 24 to 48 hours to build your loan file and determine the best financing plan for your situation
- Obtain a firm and final loan agreement within 10 days . This means that after having fully understood your project, your advisor will put in competition and negotiate with its partner banks and insurance companies to get you the best financing offer on the market according to your situation. It guarantees you a return within 10 days.
- To be supported throughout this process . Our advisers, from financial, economic and legal training, will be able to assist you with your main contacts (bank, notary, insurer, etc.) until the signing of your bill of sale.
A simulation to prepare the search for the best loan conditions
The objective of the mortgage loan simulation and to know the feasibility of your real estate project, but much more… It is also a way for Lite Lender to determine the essential parameters of the mortgage that should be negotiated with regard to your personal and professional situation.
Indeed, in addition to a rough negotiation of the interest rate, we take into account many other parameters (such as loan insurance for example). This is why your firm negotiates above all an overall result: the monthly installment including insurance and the overall cost of credit as low as possible!