Home loans over 30 years, a boon?

Banks are increasing the supply of mortgage loans over very long periods. As a result, an increasing number of young borrowers are able to access property.

The disappearance of APL accession and the number of beneficiaries of the falling zero rate loan leads banks to offer offers over very long periods. The purpose of lending institutions is to finance the real estate acquisitions of first-time buyers.

 

An advantage for young first-time buyers

An advantage for young first-time buyers

Thus, for young buyers who wish to become the owner of their main residence, this type of offer makes it possible to reduce the sum of the monthly payments so as not to exceed the debt ratio set at 33% of income. For modest assets with incomes between 1,500 and 2,000 dollars per month, these offers of long-term mortgage loans therefore represent a real bargain. A simulation carried out by a specialized broker reveals that a couple wishing to acquire a property of 300,000 dollars in Parisian inner suburbs, with a contribution of 10% and income of 4,000 dollars net per month will be well advised to take out a loan on a significant duration.

Indeed, it will be impossible to borrow over a period of 20 years because the debt ratio would be 38%. Over 25 years, the file would just pass, with a debt of 33% and monthly payments of 1,321 dollars. However, it is with a term of 30 years that the couple of borrowers would have more room for maneuver and a correct debt ratio at 31% for monthly payments of 1,231 dollars. However, over these long periods, interest rates are much higher and the cost of credit increases by more than half, reaching 143,026 dollars, against 66,720 dollars over 20 years.

 

A significant cost of credit

A significant cost of credit

The cost of credit over 30 years can put off more than one borrower. However, engaging in a home loan does not necessarily mean keeping it until maturity. Indeed, the real duration of a mortgage for a first-time buyer varies between 5 to 7 years.

Most households keep their property for a few years before reselling it by realizing a gain in order to acquire a higher quality property at a more advantageous rate. This limited duration therefore means that the cost of credit is only partially borne. However, it will be necessary to think carefully before embarking on such an operation, because during the first years, the borrower mainly reimburses only interest. A real estate loan repurchase transaction could also be considered if the borrower subsequently has several loans of different types (car loans, works, etc.) that he wishes to group together in order to benefit from a single monthly payment. This operation can be used to review the initial term of the loan, if the borrower’s income has changed.

What is a Credit travel simulation?

We all want to leave our comfort zone to go on an adventure and discover other cultures, other countries. In addition, it sometimes happens that employees take a sabbatical year to travel the world. Indeed, the law indicates that an employee can request up to a year of leave without pay.

This leave request is subject to a collective agreement and the company also reserves the right to refuse it. However, if she accepts, it is a suspension of the contract, so you will find the same position when you return.

Thus, starting a year can be risky, it is worth planning a solid enough cash to finance your trip and the cost of living during your stay. A loan can facilitate your financing because you will reimburse the cost of your trip through different monthly payments.

HOW TO SIMULATE A TRAVEL READY?

HOW TO SIMULATE A TRAVEL READY?

Do you want to travel, but don’t have enough money? Think of the travel credit to organize it without waiting. The reimbursement will be smoothed over a period ranging from 2 years to 6 years, which will allow you to maintain your purchasing power with controlled monthly payments.

With the travel credit simulator from Good Credit, you can accurately estimate the monthly payments that you will have to pay each month if you want to take out a loan to finance your stay. Before embarking on this process, remember to estimate the cost of your trip (flights, journeys, accommodation, visits, cost of living, etc.).

Then, you could quite easily calculate the amount of credit you want, by subtracting from the cost of your trip your personal contribution. Thus, the remaining amount will correspond to the amount of your credit request which will make it possible to complete the financing of your trip.

HOW DOES OUR SIMULATOR WORK?

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The travel loan simulator offered by Good Credit works like a loan calculator, but much more efficiently. In fact, you just need to enter the amount you want to borrow and the duration of the repayment, and click on “simulate this loan”.

After this step, you have all the information necessary to assess your credit: the monthly payments that you will have to repay, the APR (Annual Effective Annual Rate) and the total cost of your credit.

The simulation of your travel loan will give you all the keys to make your decision. You can also study all the solutions to find out how to finance your trip and make the best choice.

You can compare the different rates offered according to the duration, indeed it can be different and you can have a lower APR (Annual Effective Annual Rate) in some cases. Do not forget the monthly cost of the monthly repayment of your travel credit.

QUICKLY GET THE FUNDS FOR YOUR TRAVEL LOAN

QUICKLY GET THE FUNDS FOR YOUR TRAVEL LOAN

In compliance with the legal withdrawal period. In order for your file to be analyzed by the Good Credit team, all you have to do is follow all the instructions indicated on it. Firstly, you must be aware of the various provisions of this contract, then you can complete this file with the information requested.

As indicated on the file, you must attach supporting documents, the full list of which can be found in the credit file. Usually, you will need to provide a photocopy of your front/back identity card, your last salary slip, bank details as well as your last bank account statement.

These elements allow you to quickly analyze your file, which means that if it is finally accepted, you can receive the funds in record time on your bank account. So you can start thinking about planning your trip without waiting!

Swiss credit is the most common loan to apply with.

There may be many reasons why consumers in Germany do not want to apply for a loan. This can be negative credit bureau information, because without a good credit rating there would be no loan approval anyway. In principle, however, all loans taken out at German banks are reported to credit bureau.

There are quite a few people who disagree with it. Anyone who is entitled to credit bureau information can see this information. The only way to avoid this is to take out a loan from abroad.

Financial service providers broker loans from our neighboring countries

Financial service providers broker loans from our neighboring countries

Swiss credit is the most common. It is not dependent on the credit bureau entries, because these are not queried at all. Any employee residing in Germany and at least 18 years old can apply for this loan through financial service providers. The interest rate is a little higher than at the banks in Germany, but it’s still worth it if you don’t want credit bureau to know about it.

When a loan has to be paid off

When a loan has to be paid off

The loan from abroad is also often used by bank customers who already have to pay off a loan in Germany. Another loan request will rarely be successful unless it is soon paid off. Then you can ask the bank about an increase. However, if this is not the case, you should consider a loan from abroad. The fast loan is the best when it comes to quickness in processing.

Nobody learns about this here in Germany. It is therefore not only suitable for people with poor creditworthiness, but also for those who do not want to disclose their financial transactions to credit bureau. For many, this is going too far, but you can only protect yourself in Germany if you apply for a loan abroad.

A solution to finance your move: the move credit

Everyone has already known these moments: descending a washing machine on stairs that are too narrow, loading a refrigerator in an overfilled truck, or even taping cartons by the dozen. Moving is a must in your life, a risk of mobility and a must in the evolution of your professional and personal life.

However, this moment is often seen as a thankless task, and many fear it! We tell you everything you need to know about the preparation and cost of a quick and efficient move, but also about a form of credit that will no doubt give you a smile as you approach your relocation project: the loan move!

How does a move take place?

How does a move take place?

During a move entrusted to professionals, the first step is to prepare before giving the movers time to make a reconnaissance visit which allows them to gauge the means that will be put in place during the move.

Then, for the move to be successful, you must not forget to provide yourself with boxes to efficiently store your belongings. You should also plan a consistent date to avoid overly busy periods. Finally, in the case of a move without professionals, it is necessary to think of the rental solutions for trucks and vans.

What steps should you take to prepare for your move?

For a move to go well, it is important to take a few steps to finalize your change of domicile:

  • three months before the move, the owner or the trustee must be informed of the departure date;
  • you must also make a request to CAF to possibly receive the moving allowance;
  • if children are in school, contact new establishments to facilitate transfers;
  • just before the move, you must change your address on your personal documents: bank account, insurance, telephone operator, Internet operator;
  • you must also request redirection of your mail to the post;
  • after the move, the prefecture must be informed of the change of address within one month, in order to change the vehicle registration card.

You should know that changing your address on the national identity card, passport or driving license is optional. Do not forget to register on the electoral list of the new city!

What are the advantages of using moving professionals?

What are the advantages of using moving professionals?

Managing your move alone can quickly become a headache: organizing transport and storage solutions, and finding friends to help can quickly become difficult. Moving companies take care of almost everything! Of course, there are several formulas to accommodate all types of scholarships.

Professionals often provide cardboard and bubble wrap so that individuals can take care of the packaging of certain personal effects in advance. To find out which type of service best corresponds to a move, it is advisable to request several quotes from different moving companies.

It should be known in general that for the removal of a T3, one can count between 1200 and 1600 dollars TTC, and for a T2, it is necessary to count an average budget of 800 to 900 dollars TTC. Be careful, there are companies with dubious morals that try to scam customers.

It is therefore advisable to check that the company you are going to choose is registered with the chamber of commerce. Finally, it is possible to request a copy of the move which proves that the personal effects are in the hands of a professional. This can be useful in cases where insurance must be used.

A solution to finance your move: the move credit

A solution to finance your move: the move credit

The calculation of the budget for a move depends on many variables:

  • the square meters of accommodation;
  • the distance to travel to the new home;
  • the value and price of furniture;
  • the ease of access to the two apartments.

The amounts can quickly amount to thousands of dollars, especially in the case of turnkey formulas, where the mover takes care of everything. The solution to afford these services is to use a moving loan. Once the needs are clearly defined and a budget is established, it is possible to make a simulation of moving credit without commitment.

Moving loan: what type of loan should you choose?

Moving loan: what type of loan should you choose?

When it comes to moving loans, you have two main options: assigned credit and personal loans, both of which are consumer loans.

The rates for a personal loan are, in most cases, certainly significantly higher than those for an affected loan. Why? Because the bank does not know what the money will be used for. So she takes more risks. But unlike the allocated credit, which is devoted to a particular type of expenditure, the personal loan does not require proof of use.

You can use the amount borrowed both for the move itself and for any work to be done in your old and / or new home, or for the purchase of new furniture. Which is not uncommon when you change houses!

Bank does not offer this type of consumer credit

As we have seen, revolving credit is not a consumer credit like the others. With an excessive and hardly predictable total cost, it is potentially dangerous for the borrower who is not well informed or does not show a minimum of vigilance.

For all these reasons, Good Credit does not offer this type of consumer credit. With us, the urgent need for money can be met without putting your cash in danger, by means of a rapid and repayable credit, at the fixed APR: the personal loan.

The latter does not require any proof of the project. In other words, you are free to use the loan amount as you wish. Consequently, it also presents itself as a good alternative to restricted credit, which is linked to a specific purchase (this is called car credit, work loan, etc.).

Personal loan in detail

Personal loan in detail

In addition, everything is done online from our platform, from the simulation to the credit request, via the sending of supporting documents (identity document, proof of address and income …). Once your file is completed, a response will be sent to you within 24 hours. And when you need money quickly, these details, if any, are far from negligible!

If necessary, this form of consumer credit can be granted both by a bank and by a credit institution. If the steps to obtain it are simplified compared to other types of loans, the fact remains that the personal loan is governed by the Consumer Code.

Before signing the contract, the lending institution must provide you with a lot of information, such as:

  • His identity and address;
  • The total amount due;
  • The total cost of fees;
  • The APR (annual effective annual rate), expressed as a percentage of the amount borrowed; and this, with explanations on its method of calculation;
  • The existence of a withdrawal period (14 calendar days), during which you can renounce the credit.

As for the amount, it can be between 1000 and 50,000 $ at Good Credit, repayable at least in 6 months.

What about borrower insurance?

What about borrower insurance?

This is an optional insurance, which can nevertheless be useful in the event of a hardship. It applies in 5 cases:

  • Total temporary incapacity;
  • Partial permanent disability;
  • Total permanent disability;
  • Total and irreversible loss of autonomy;
  • Loss of employment (attention, this feature is optional).

Although it is difficult to know what tomorrow will be like, it is up to everyone to measure the share of risk. Anyway, three elements are imperative to be taken into consideration to make his choice: his resources, his heritage, and his need for money (amount to borrow).

Having to face an urgent need for money can happen to everyone, without warning. Good Credit responds effectively and transparently. To get a clear idea of ​​the monthly payments that would be yours, before applying for credit online, do not hesitate to use our credit simulator. It’s simple, fast, anonymous and completely free!

 

Quick Credit 10000 dollar loan can be taken out at the house bank

A quick loan of 10,000 USD can be taken out at the house bank or at another bank. Occasionally, private individuals also quickly grant loans of this amount. This is rarely the case with foreign banks, since the maximum loan amount is usually limited to USD 7,500. However, there are exceptions to this. If you are looking for it, you can get the help of a credit intermediary who is knowledgeable in this area. Ideally, the credit intermediary should have years or decades of experience and not only know the domestic but also the foreign credit market well.

Credit comparison

Credit comparison

10,000 USD is a loan amount that is very often in demand. For example, it is sufficient to finance home furnishings, a kitchen or other purchases. Even for a used car or a small new car, 10,000 USD could be a sufficient loan amount. In addition, some borrowers will want to pay off debts or redeem old loans. As a rule, it is of interest to the banks and the savings banks that do not grant a quick credit of 10,000 USD what you do with the money. The only exception is the dealer credit or the car loan. However, there is no dealer credit at the bank, but directly where you can buy the items that you want to finance with the loan.

This is often not recommended

This is often not recommended

Many people limit the search for a quick loan of 10,000 USD only to the house bank and the banks nearby. However, this is often not recommended, since other banks often offer significantly more favorable conditions. These banks do not necessarily have to be close to where they live, because today it is easy to apply for a quick loan of 10,000 USD on the Internet. A fast loan is characterized by the fact that the loan application is preferred and often processed within a few minutes. You will then immediately receive a message as to whether your loan application can be approved or whether it has to be rejected by the lender.

A loan comparison can be done in a short time if you use a loan portal on the Internet. Here you can use a loan calculator or a search mask. There you can enter your personal search criteria. This affects not only the loan amount of 10,000 USD, but also the desired monthly repayment rate and the term you prefer. You can immediately compare all the loan offers that are suitable for you and do not have to go from bank to bank to do so. Following a loan comparison, you can visit the websites of the loan providers that are of interest to you. There you can get more information and, if everything has been clarified, apply for a quick loan of 10,000 USD.

Credit terms and conditions

Credit terms and conditions

You should have enough regular income to allow you to pay regular monthly credit installments. How high these credit rates are depends on the term and the interest charged on the loan. After paying the loan installments, you should have enough money left to support yourself and your family. The bank will check this. But you should also ask yourself critically how much money you can really spare each month to pay the loan installments without getting into financial trouble.

Since a rapid loan 10,000 USD will in most cases be a loan that comes from a German lender, you have to expect that not only your income but also your credit bureau information will be checked to check your creditworthiness. If there are negative entries there, this can be very difficult, as they often mean the end of a loan application, even if your income would be sufficient to pay the loan installments.

The chances of a quick loan of 10,000 USD can often be significantly improved if the loan application is made not by just one person but two people. This can be, for example, a spouse or life partner who can also submit a loan application together, especially for purchases that are to be made together. An alternative is a guarantee. Here there is only one loan applicant and the other person takes over the guarantee. This means that it is only taken into account when the actual borrower is no longer able to pay the loan installments in full and regularly. This can be temporary or permanent. A guarantee can have a negative impact on your own creditworthiness, since the obligations arising from the guarantee take precedence over any new loan obligations.

Quick processing of the loan application

Quick processing of the loan application

A quick loan of 10,000 USD is characterized by quick processing of the loan application and, in the positive case, quick payment. This can often happen within a few moments. If you make the loan application in a branch near you, you often even have the option of waiting for the result of the check and then receiving the cash in cash at the cash register. If you do not want this, the money will be transferred to your account, where it is often credited the same day, especially if the loan application was made on the morning of the day.

The decision for a quick loan of 10,000 USD often has special reasons and is usually due to the fact that the money is needed very urgently and that financing is delayed. The loan must then be repaid in installments, similar to other loans. They are due monthly on a precisely specified date. In many cases, this is either the 1st of a month or the 15th of a month. The monthly credit rate depends on the term and the interest. Certain additional costs that the lender calculates may also be included in the credit installments for a quick loan of 10,000 USD.

What rate for a work loan?

 

Consumer credit affected, the work loan can be requested by individuals for all types of work relating to their housing. Here are our tips for everyone who needs financing for their renovation projects.

Understand what a work loan is

Understand what a work loan is

A work loan is a consumer loan used to carry out work in the housing occupied by the borrower. It should not be confused with the real estate loan with works which is also a financing for works, but backed by a real estate purchase.

These loans are not used to buy long-term assets or investments and are, instead, used to provide the working capital that covers a company’s short-term operational needs.

The work loan considered as assigned consumer credit can concern the financing of major works carried out by a professional as well as works carried out by the individual himself. It is a type of consumer credit that often concerns wealthier and older borrowers than applicants for other categories of consumer credit (auto loan, personal loan, etc.).

Take an interest in the current rates for works loans

Take an interest in the current rates for works loans

Overall declining in 2017, the rate of works loans reached bottom levels often record in January 2018 (examples: 1.70% for the minimum rates of works loans of less than $ 10,000 over 24 months, 2, 90% for over 60 months). To take advantage of the best rates, the individual must scrutinize the offers of the various banking establishments which can sometimes make your customers profit from work loans at promotional rates. Gathering all the costs linked to credit, the Annual Effective Annual Rate (APR) makes it possible to compare each loan with each other.

The possibility of resorting to zero-rate loans

The possibility of resorting to zero-rate loans

State-subsidized loan, the zero rate loan (PTZ) can complement a work loan if the individual (or his tax household) owns and has small incomes. The zero-rate loan notably allows the purchase of housing to be renovated with work to be done at least equal to 25% of the total cost of the operation. The zero-rate eco-loan (eco-PTZ) allows it to finance the energy renovation of housing, and is accessible to both landlords and occupants of old housing.