Commercial real estate financing is still known as low borrowing rates loan as it is mentioned in history. This article gives you the keys to choosing your mortgage and renegotiating it successfully. Check out our October 2017 online mortgage comparison on all the tricks to get your file accepted by getting the best rates.
It is generally difficult to establish comparative tables for mortgage loans. We can help you with some special tips to reduce the rate.
The interest rate grids for real estate finance vary according to many parameters
Including changes in exchange rates over time within the same bank, (individual, couple, married, peace, contribution, tenant, landlord, etc.)
Your professional situation (salaried or self-employed person, on a permanent or fixed-term contract, official or not, income, premiums, etc.).
However, online banks often have standardized rates for a typical borrower profile. Other credit institutions offer self-made simulations. Or realize personalized studies for you within 48 hours. Here is our comparison of mortgage online for commercial real estate financing.
It is also recommended that you be accompanied in your process by a professional. They will help you determine at best which banks offer you the most advantageous loans. In 2015, 2% of people used a real estate loan broker than the previous year. Mainly to obtain a more favorable rate for 59% of the answers or in order to save time for 27% of the respondents.
The broker specializing in real estate knows this market perfectly. They will be able to accompany you in the choice of your loan during the negotiation with your bank. It is often appreciated to entrust your wishes to a multi-brand interlocutor (the broker). The interlocutor always compares the offers through direct discussion with the adviser of your bank. The objective of the advisor from the bank is to make you take the loan proposed by his bank. The approach will be more personalized, refined and more sophisticated. It happened if you are going to compare the offers yourself.
Prepare your loan file carefully for commercial real estate financing
To have a solid financing record, you need a personal contribution of at least 15% to 20% of the price of the property you wish to acquire. Financing more than 20% of the amount of the acquisition with own funds is an element much appreciated by bankers.
Think of :
- Solder consumer loans
- Avoiding overdrafts
- Highlight your assets:
- young age,
- professional potential,
- your seniority with your employer,
- The existence of additional income or ability to save regularly.
Optionally, guarantee to the bank that will grant you the mortgage to domicile its wages.
File your file with at least 3 banks.
During the negotiation, present the offers of the competitors that you have solicited
Negotiating the Delegation of Insurance
Since September 2010, banks can no longer impose their own insurance on borrowers who have the option of insuring with the insurance company of their choice. Indeed, one should not just focus on the negotiation of the borrowing rate because insurance at a high rate can cause the loss of the benefit of an attractive mortgage.
The loss of employment guarantee
The loss of employment guarantee often offered with loan insurance. Of course, reserved for employees, is optional, unlike the total/irreversible loss of life/loss of autonomy.