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Greater Opportunities with the Best Loan Application

To have your mortgage at the best rate, you need to have the best possible record. Here are criteria that will allow you to approach the best current loan rates available on the market. Specially with Opal finance you can find the best deal now.

Negotiate your mortgage rate

Before buying an apartment or house, most people find out about current home rates to find out how much they can borrow. 

The interest rate is one of the most important components of your home loan. We will therefore see what are the criteria that your banker will use to offer you the best rate for your mortgage. However, do not neglect the other elements of your credit and trust only the rate offered. You have to see your loan as a whole. We will come back to this after this list of tips to get the best possible rate. These tips are only a small part of those you will find in our method to boost your real estate financing. To get help with your home loan application you can find the best opportunities now.

Personal contribution: Finance part of your purchase with a personal contribution. At a minimum, you must be able to pay the notary fees yourself. The bank will not be the only one to take risks if ever there are subsequent problems, it will not finance the property 100%. By reducing the risk taken by your banker, he can offer you a better credit rate. 

Zero rate loan: Check if you are eligible for the zero rate loan. If you are eligible, this will allow you to borrow part of the required amount of money for free. The zero rate loans is considered personal contribution by your bank. 

PEL and CEL: Take advantage of the advantages of your PEL and / or your CEL by taking advantage of loan rights if the proposed rate is attractive. These are banking products specifically designed to prepare a real estate purchase. 

Other assisted loans: There are other assisted loans that allow you to obtain ultra-competitive rates for part of your loan. Ask your employer if you can benefit from the 1% housing loan, for example. These other subsidized loans are also included in your personal contribution. Click here to find out all about these aids! 

Reduce your other credits as much as possible: The less you have outstanding credits, the less the risk of non-repayment. The bank will therefore accept a higher monthly payment since your debt ratio will be lower. This will also give you, by reducing the risk, an advantage on the calculation of the credit rate. 

Limit your debt ratio: It is customary for banks not to lend more than 33% of your income.