Online mortgage loans – money to get with online loans

What we value the most when we are offered a product or service, is to be able to have it when we need it. In accordance with the demands of consumers, a new way of accessing third-party financing has been trending, online mortgage loans.

How to apply for mortgage loans online

How to apply for mortgage loans online

Online mortgage loans are basically loans that are made between individuals and are requested through the Internet. The client has to put their personal data on a form, in addition to specifying how much money is required and in how long they can return it. Once you submit the request, you need to wait for approval from investors, who usually respond on the spot.

“Before accepting the Mortgage loans online, the client will be able to know the interest charges and commissions that he will have to pay. Private equity lenders set the rates according to the level of risk of the financial operation. The rest of the procedure consists of presenting the documentation and signing the contract ”.

If we think that things get complicated here, we are wrong. This step is carried out at a notary’s office in the client’s city of residence, since we work throughout the Spanish territory. The money is then deposited into the bank account that the applicant currently uses; In total, the entire operation does not take more than a week.

Easy-to-manage mortgage loans

Easy-to-manage mortgage loans

Besides the fact that management is easy and immediate, it has few requirements. It is only mandatory to present the property title of a property without any type of charge. And it does not have to be from the applicant, since it can belong to a friend or a relative.

On the other hand, online mortgage loans have almost no restrictions for anyone. As much as that figure appears in a file of defaulters, has RAI or Financial Credit Institution or does not have a job, you can still get the money. Likewise, no payroll or third party guarantee is necessary, because we do not carry out previous studies of the client’s financial condition. We believe that no one knows his limits and needs better than himself.

Obtaining from 6,000 to 150,000 USD to be paid in installments of 1 to 15 years – with the possibility of refinancing at a cost of 0.25% – seems a difficult company, given the few conditions that the loan presents. However, what is targeted with online mortgage loans   it is to offer an effective and accessible palliative for the urgent financial problems of more and more people.

Do you know about student loans?

One of the best stages to undertake professionally and in any area of ​​our life is youth. When we are young we are loaded with dreams and innovative ideas that in the short term can become a good professional project.

That is why it is quite frequent that young people need loans to be able to bring all these ideas to fruition. And the first step to achieve this is to improve education. Hence, credit companies have seen the opportunity to create loans specifically for this sector of the population. These credits are characterized by perfectly adapting to this type of profile.

The experts of Private Lenders want to share with you everything you need about student loans. So you know what you can expect when using this type of financing. Do you want to know more about it? In that case, keep reading.

Student loans

Student loans

Student loans are specially designed for young people who want to improve their education as a method to achieve their professional goals. In general, student loans can be used to cover the following expenses:

  • Pay the tuition. It is usually the most frequent use given to this type of credit.
  • Pay the full university degree. In other words, in addition to paying the expenses associated with enrollment, they can also be used to pay credits and other expenses associated with obtaining the degree.
  • To improve training with a master’s or postgraduate degree. What allows a greater specialization in the professional sector for which the young person has opted.
  • To study abroad. Undoubtedly, Erasmus loans are another of the most used modalities. Hence, there are specific loans for this type of study.
  • Extracurricular courses. During the study period it is normal for universities to offer extracurricular courses that can help improve our specialization for the labor sector. Using loans to finance these courses is also frequent.

Characteristics of student loans

Characteristics of student loans

In general, student loans are characterized by being directed exclusively to this sector, offering advantages that other types of loans do not provide.

  • Much more flexible financing conditions. Something necessary if we think that as a rule students lack sufficient income to be able to pay for their studies. At the end of the day, their working hours cannot be complete.
  • Long repayment terms. Many credit institutions offer more than 15 years and even others the possibility of starting to amortize when they get a job. This gives an opportunity not to start debt repayment until a source of income is available.
  • Very low interest. Both private equity companies and banks that provide student loans are in charge of offering very advantageous conditions with really low interest rates. In fact they are usually the cheapest on the market.

To grant this type of loan, credit institutions will study the applicant’s profile to assess the repayment capacity. For this, special interest in the branch chosen by the young person is usually shown. And the professional opportunities that it has.

The grace period

The grace period

In addition to these facilities, many of these loans offer total or partial grace periods ranging from one year to s5 in duration. However, keep in mind that…

  • If you apply for a student loan with total deficit, the interest will be somewhat higher and your loan will become more expensive.
  • If you ask for a loan for students with partial deficiency, you will only pay the interest month after month, which will make the amount no longer rise.

Borrow with a CDD

Borrowing with a fixed-term contract is possible within the framework of a real estate project, under the conditions of being accompanied by a co-borrower with a long-term contract. Here is a complete file to borrow in CDD.

Obtaining a mortgage requires providing certain guarantees, such as the guarantee of having a regular income, having sufficient borrowing capacity, correct debt and obviously, an indefinite employment contract. The CDI, the civil servant contract or even a pensioner status are the three employment contracts that reassure the banks because the sustainability of employment ensures the sustainability of monthly repayments. In the context of a fixed-term contract, the bank has no long-term vision and cannot commit to granting real estate financing to the borrower, unless the latter is accompanied by a co-borrower with a long-term contract, that is to say a permanent contract, a contract of holder in public service or even a status of retiree.

Borrow with a public service contract with a public service contract

Borrow with a public service contract with a public service contract

Certain professions in the public service must go through the CDD stage, that is to say that the worker will accumulate CDD for several years to then obtain a CDI, but most of the time these contracts are renewed each year. CDDs in the public service are seen differently, they are sometimes even perceived as CDIs by banks, again on the condition of having a co-borrower with a guarantee relating to their employment contract. It is therefore easier to obtain real estate financing when you are a civil servant because the contracts are specific to the public service and the sustainability of the activity is only rarely called into question.

What solutions for borrowing on fixed-term contracts?

What solutions for borrowing on fixed-term contracts?

Obtaining a CDD home loan without a co-borrower will be complicated, ideally you should wait for a temporary contract or ask your employer for a promise to hire, which could reassure the bank and offer them a short-term perspective to grant financing. Some banks can also take intoaccount the situation of the borrower, that is to say that if the latter presents a reassuring profile, with a professional career made up of CDD but without interruption, bank accounts without rejections, without delays and savings that can be used as personal contribution, it is possible to find solutions. It is therefore advisable to carry out a mortgage loan simulation because there is no guarantee that all the indicators will be red to obtain its financing and this will allow all doubts to be dispelled as to the feasibility of this project.

Why choose private lenders despite the increase in bank credit?

Consider the option of private lenders

Consider the option of private lenders

If you are a press reader, listen to the radio, watch television or simply view billboards of any kind and on any medium, you will surely be surprised in the last few months by the new “blitz” of bank advertising, theoretically offering you financing.

Given these advertising inputs, you may be wondering why you should continue to consider the option of private lenders if you need financing if, in theory, from what you see in advertising, the bank already gives you that financing.

First of all, what must be said is that this new rebirth of bank loan advertising is a relative truth, it is a half truth, of course it is not a lie but it is far from the whole truth and private loans, like always, but in an increased way, they are still more necessary than ever.

It is true that banks have opened up the granting of loans to self-employed workers and companies in a certain way, but at what level? What requirements does the bank impose in order to grant you financing? In the past, it was easy to have practically any credit profile and the bank to grant you financing, nowadays everything has become much more selective and granting financing is no longer so easy.

Private lenders to solve the shortcomings of banks

Private lenders to solve the shortcomings of banks

Private lenders to solve the deficiencies of the bank will provide you with all the financing you need when the bank does not offer it to you or it is offered under conditions that do not complete what it requires .

For example, credit policies granted by banking entities that have always been one of the most used options by all types of companies today continue to be so, but, as always, but still more strongly, they do not They cover all the financing needs you may have. In these situations, private lenders to solve the shortcomings of banks make their appearance at the highest level.

In the case of personal loans for use that can be granted by banks, the same happens a bit as in the previous case, but with another added problem, the level of concession has also fallen a lot due to the difficulties of granting them (something that Let’s not kid ourselves also happens in the previous assumption). It is difficult for you to get these loans or at least it is very difficult to get them in the amount you need. In these cases, private lenders can also be very useful to replace the bank in granting this type of loan.

And finally, another area where private lenders can be extremely useful to you is in addition to the loans of the ICO lines that they can grant you. It is true that these official credit loans are offered under very advantageous conditions, but it is very likely that the amount granted will not be enough for you either, for all these cases private lenders will also be at your side to come up with more loans where the others do not arrive.

Real estate credit: how to get a good rate? – Cheap loan insurance

Although the current economic context is not very favorable, the mortgage market is still quite dynamic. Here’s how to get an attractive rate:

1 – Prepare your credit file well

1 - Prepare your credit file well

Before getting started, you need to prepare your mortgage loan file very carefully in order to build confidence in the bank. Build up a more or less substantial personal contribution because it is an essential element in negotiating your rate: the higher your contribution, the lower the rate. Financing with equity more than 20% of the amount of the acquisition is a point highly appreciated by banks.

Anticipate the steps…

Then, you must anticipate your approach at least three months before by cleaning your bank accounts and paying off your current consumer credits.

Highlighting strengths

Finally, prepare to highlight all your strong points to reassure your banker: young age, stable professional situation, additional income, the existence of a savings account…

2 – Use a broker

2 - Use a broker

Since banking establishments do not offer the same borrowing conditions and the offers are often limited in time, it appears difficult for an individual to contact the right bank at the right time. Thus, by going through a broker specializing in real estate credit, you will very quickly access the best offers on the market that he can negotiate for you.

3 – Negotiate loan insurance

3 - Negotiate loan insurance

Banks systematically offer their own loan insurance contract: the group contract. However, Lagarde law obliges them to accept loan insurance taken out with the insurance company of the borrower’s choice. Loan insurance is a significant element to negotiate because group contracts are generally more expensive than individual contracts.

Benefit from a better guarantee

By negotiating individual loan insurance (delegation of insurance), you can reduce the cost of your insurance by half compared to the group contract offered by the bank and benefit from more effective coverage whatever your situation:

  • aggravated health risks,
  • dangerous trades,
  • risky sports…

The broker

In summary, by going through a broker, you will save time and save money. You will get the financing solution that is most advantageous to you both in terms of price and conditions.

Income loan. 200 students denounce because of the indebtedness for their masters

 

More than 15,629 people have applied for these income loans since they began to be offered in 2007. In the first two calls, that is, in those of 2007 and 2008, students were only asked to repay the loan from the moment the one that began to receive a salary of $ 22,000 a year. But this clause was modified as of 2009, at which time a period was established to proceed with the repayment of the loan. Regardless of their income, borrowers were required to repay the loan amount on time.

Why do you need to repay the loan?

Why do you need to repay the loan?

As indicated by the platform affected by the income loan, this modification in the contracting of said loan was not notified to those who already enjoyed it. In addition, the new applicants received very deficient information in this regard. During the four years that the possibility of availing the income loan lasted, the Ministry of Education decided to change the name of said aid. In the words of the Ministry of Education itself, this loan was a real trap for the students because it was very poorly designed. For this reason, in 2011 it was decided to delete it.

According to the lawyer of the Association of those affected by the rent loan, the conditions were hardening year after year. Some entities that collaborated in the granting of this loan, such as Fine Bank, explain that the Ministry of Education is the only one that has the power to change the conditions of the loan since the income that was offered to the students came from public funds. As they explain, in addition, the ICO was the actual person in charge of lending the money while the financial entities that supported the initiative only functioned as mere intermediaries.

Loan for young people

Loan for young people

Given the continuous complaints and claims by the students who were affected, the Government decided to extend the grace period for the return of income loans. This extension was offered to all those who had serious difficulties in repaying the credit.

A real deception for young people who have not had a job opportunity after completing these master’s degrees and who now find themselves in the position of repaying a loan that in theory had no interest but also turned out to have them.

Prepare mortgage loan documents to deposit at your bank

 

Are you planning to apply for a home loan from a financial organization? You need to provide some important documents about yourself in order to obtain a mortgage. All individuals who plan to apply for a loan to purchase real estate must all go through this step. These documents are of great importance as they attest to your status as a reliable borrower. To help you, discover in this article this many paperwork to provide.

Documents to constitute for a mortgage loan application file

Documents to constitute for a mortgage loan application file

Regardless of the bank or institution authorized for the financial loan requested, specific documents must be provided by the future borrower. They help lenders find out more about the future client and their situation. If you plan to use a mortgage for the purchase of your house or apartment, you must, therefore, present a solid file including:

  • Civil status papers

These documents are formed by an identity document of the credit applicant, a marriage booklet or a PACS certificate. If you have divorced, a liquidation act or a final agreement is essential.

  • Documents justifying your direct debit

To apply for a mortgage, you must justify your place of residence. Note that there are three types of residents, including the owner, tenant or person accommodated free of charge. The documents attesting to his domicile are different for each of these profiles. For the first, you must attach a title deed and its property tax documents in your file. For the second profile, it is necessary to provide a lease contract. And finally, for the last one, the individual who hosts you must produce a handwritten accommodation certificate, with his signature. Proof of address is also attached to this certificate.

  • Papers that present your professional situation

The professional situation is one of the major elements that greatly influence the decision to grant a mortgage. To gain the confidence of a banker, having a good professional situation is essential. Financial institutions give little importance to unemployed mortgage loan applicants. If you are an employee, your file may have a chance of obtaining a positive decision from the bank. With this status, you must provide payslips for the last three months, a tax return, tax notices, a certificate of employment or an employment contract. If you are a public official, your mortgage application will have no problem. You can easily get a financial loan agreement.

Important documents concerning the property to be acquired

Important documents concerning the property to be acquired

Financial organizations always ask future customers, individuals or businesses, documents around the property to buy. A promise or a compromise of sale with the owner of the property to be acquired must be attached to his file. In order to obtain validation of your mortgage application, it is essential to always provide all the important paperwork for your banker. By carefully preparing all the essential documents to file, you are putting the odds in your favor in order to have a loan agreement.

Credit Repurchase: Is It Profitable?

The repurchase of credit has several names but the purpose remains the same, the goal is to group several loans into one in order to reduce the monthly payments and allow the creditor to rebuild his financial health. When too many loans have accumulated and the subscriber can no longer follow, credit consolidation can be a solution. The repurchase of credit is also very widely used to repurchase only one and single credit to save on the interests of the loan and thus in monthly payment and total cost of the loan. This practice has been more common than ever for a few years since mortgage rates have been going down for months.

Is it always profitable to buy a mortgage?

Is it always profitable to buy a mortgage?

No, this is not always a good transaction, you must first start by calculating the cost of buying back the loan, insurance and costs relating to this transaction. If the amount is significantly lower than the difference in credit rates, you can try your luck and contact credit unions or banking organizations. In certain cases the repurchase of credit is an excellent operation and it is largely possible to gain thousands of euros on the totality of a mortgage. We can advise a minimum of 0.9% difference between the base rate and the renegotiated credit.

How many active loans should you buy back?

How many active loans should you buy back?

There is no limit, you can group your monthly payments whenever you want. However, if you have no problem repaying your various credits, it is not useful to redeem your monthly payments. You still need to know that buying back credit has a cost and it is essential to understand that the monthly payments decrease but that the duration of the loan increases. A repurchase of several credits (conso, auto …) is a good operation when the creditor can no longer pay his different monthly payments.

Where to buy back your credits?

Where to buy back your credits?

A lot of organizations offer this service, you can start with your bank to get a first opinion. Always ask for at least three different opinions and quotes for your buy-back!

Do you know the online credits?

Since the crisis erupted in 2008, the failure of traditional financial institutions to offer consumer loans or to purchase a home has become our daily bread. The lack of job stability and lower and lower wages did not help improve the financial outlook for our country either.

Precisely as a result of this situation, where most of the Spaniards were completely abandoned by the banks and without the possibility of obtaining credit to continue with the day-to-day (either with consumer loans with mortgage loans), methods began to appear alternative financing. It was in 2012 when this type of alternative methods came to light and in 2013 when they would end up taking off and obtaining a significant gap in the Spanish financial system. And these methods became an immediate opportunity to continue for both individuals and companies that were born at that time and were unable to obtain credit from traditional financial institutions.

Online credit was born in a period severely affected by the crisis and became the solution for many of the Spanish who needed credit. It should not be forgotten that although financial institutions decided to stop lending money, people still needed to apply for financing. But, what were the reasons for the appearance of these credits?

Why online credits appear

Why online credits appear

  • Firstly, and as we have already explained, because traditional financial institutions decide to turn off the tap and stop lending, both to individuals and to emerging companies.
  • The continuous scandals that appear in the press about the bad actions carried out by banks, make confidence among the Spanish increase towards traditional financial entities. These go from being companies of complete trust and transparency, to apparently corrupt companies that only think for their own benefit. Although this involves exercising actions that are detrimental to customers.
  • New technologies are the order of the day and users are increasingly comfortable using them. E-commerce grows and security in transactions made through the internet becomes a tangible reality. The fear of operating through the internet (to buy, sell or contract services) gradually begins to disappear.
  • As a result of the situation, purely online banking entities arise that are in charge of filling the gap in financing left by traditional banks. They are authorized, trustworthy and one hundred percent legal companies, which are responsible for granting credit to both individuals and companies.

Online credit thus becomes a new method of secure financing to obtain credit, both for individuals and companies.

When do we talk about online credits?

When do we talk about online credits?

A credit is any financial action where a lender offers financing to a borrower in exchange for interest and the return of the amount in the agreed monthly installments.

We can speak of online credits when these amounts are obtained through the internet. Absolutely all actions are carried out online and from the comfort of the home or business of the individual or the company requesting the loan.

Both the paperwork and the request are made through the internet, without the need for the client to move to be able to make the credit effective.

Another advantage of this type of credit is the ease and speed of receiving the money. Normally, not as much information is required for the granting of the loan. In addition, in most cases, once the data is corroborated and verified by the lender, the client can have the money available in up to 48 hours and directly deposited into his checking account.