Buying and selling
Posted at June 11, 2020

How to choose your mortgage in Paris?

Invest in Paris, mortgage for house purchase

 

Real estate is one of the most popular investments of the French. However, buying accommodation is expensive, especially in Paris. Also, most individuals must take out a loan to access the property. The request for a loan goes through banks that impose various criteria to obtain an offer of multiple formulas. Choosing a mortgage can quickly give you a headache. That is why a real estate broker assist you in choosing the best deal based on your needs and financial situation.

Financing your real estate project

 

Choosing a real estate broker in the 14th district in Paris

Making an appointment with several banks to assess your loan possibilities is a tedious, time-consuming, and sometimes sterile exercise. A real estate broker in Paris 14, or your district of residence, allows a precious saving of time. Such a professional works on all types of real estate, whether it is to acquire a building, an apartment, or a house for personal or professional purposes. Whether for a primary or secondary residence, a broker will accompany you, whatever your real estate project.

Using a real estate broker in the 14th district in Paris allows you to receive advice from a specialist in the Parisian market. In addition to its network with banks and lending organizations, its expertise extends to the aid and subsidies put in place by the region and can, subject to eligibility, allow you to obtain a loan at a reduced rate.

What salary does it take to borrow 400,000 euros?

 

To accept a credit application, banks require the creditworthiness of the borrower. Indeed, they protect themselves against arrears and are subject to regulations on the rate of over-indebtedness. Also, the borrower's income is studied as well as his (if any) other outstanding loans.

With an average cost of 10,000 euros per m², Paris is one of the most expensive cities in France. So you don't have to have any salary to borrow 400,000 euros. To calculate the amount you can borrow, consider several criteria. The borrower's salary is a fundamental fact since the monthly repayment is capped. However, taking a loan over a long period allows low wages to obtain a credit of 400,000 euros.

Investing in real estate, betting on the future
 

With a budget of 400,000 euros, it is possible to acquire housing of around 40 m² in Paris. However, obtaining such a sum from a bank depends on many criteria (salary, status, loan duration, interest rate, personal contribution, mainly). Also, it is essential to choose your mortgage well by comparing the different offers and calling on someone outside the project.

A real estate broker is the ideal point of contact for assessing repayment possibilities and finding the bank that best fits the borrower's file. Besides, such a professional is entirely familiar with the laws and regulations relating to loans and real estate. Finally, without any link or bias, a real estate broker works objectively on his clients' project with the sole interest of seeing him find the best lending organization to become an owner.

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