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
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?
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.