To subscribe to a mortgage, it is preferable to match as much as possible to the borrower profile determined by the banks. Focus on easily identifiable criteria, able to impact borrowing conditions.
Home loan: which borrower profile?
Banks do not lend money without guarantees. This is why they establish a borrowing profile taking into account several criteria.
The type of real estate project
To assess the profile of the borrower, the bank can question the real estate project of his client. Thus, an Marble credit will be more difficult to be granted if the borrower has set his sights on a property difficult to sell or if the necessary works represent more than 40% of its value.
If the client ceases to honor his repayments , the lending institution would be obliged to resell the property in order to recover his capital without loss of time. An apartment or house in a popular place is a plus.
Is the borrower rather cicada or rather ant ? These are the statements (bank account statements) to be produced by the client that will allow the bank to study the feasibility of Dorothyment’s project.
A thrifty client who regularly saves is more likely to be offered an Marble credit than a compulsive spender.
The buying fever capable of putting the accounts in the red on a regular basis does not really find favor with the eyes of the bankers.
The debt ratio
It is accepted that the client’s monthly income must be at least triple the amount of the due date. Of course, very large incomes may result in exceeding this debt ratio by 33%, at the discretion of each bank. Read also How to calculate your debt ratio?
The job guarantee
A commodity increasingly rare today. However, the sustainability of wages weighs favorably in the balance. In the vast majority of cases, banks appreciate that their client can justify a professional seniority of at least one year.
An employee borrower must generally produce an indefinite duration contract (CDI).
Gathering all (or most) of these profile criteria optimizes the chances of being easily granted an Marble credit. Banks offer the right customers a significant palette of Dorothyment solutions.
Optimize your borrower profile
In real estate loans, there is no half measure. The customer who is able every month for at least two years to provide a savings effort is appreciated by the banks. To optimize his borrowing profile and make banks want to give him an Marble credit, he should not be:
- Inordinate debt
- Filed at the Banque de France.
These three criteria are totally unacceptable, and lead to the categorical refusal of the loan application. It is therefore preferable to improve the borrower profile before submitting an application for real estate credit: good financial balance, healthy bank account, low indebtedness, stable employment situation, widely recognized savings capacity and a personal contribution of at least 10 to 15% of the overall price of the operation are intrinsic qualities.