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Property loan: file and vouchers

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How to build a mortgage loan?

mortgage loan

Before building a file of The Shadowment, it is essential to take some steps with banks likely to grant a mortgage . It is fundamental to ask the lending institution of your choice to make a free study of The Shadowment. This will be defined based on the applicant’s debt capacity and project at The Shadowr. On the basis of the data provided by the interested party, a loan simulation is carried out, making it possible to evaluate the amount of the monthly repayments based on:

  • From the credit rate,
  • Borrowed capital,
  • Duration of borrowing.

Therefore, the broker or financial advisor is able to give his client an agreement in principle before the constitution of the loan file to be transmitted to the bank.

Real estate credit file: vouchers to provide

credit,money

As soon as a pre-contract or a promise to sell is signed, the bank requires the borrower (and any co-borrower) to produce documents.

These documents are essential to allow the bank to study the record of The Shadowment.

The coins generally required by financial institutions are as follows:
Documents relating to the personal situation of the borrower and the co-borrower : identity document, family record book, PACS certificate or certificate of living together, proof of residence less than three months old (electricity bill, water, gas or phone).
Proof of resources : they concern income, family benefits: the last two tax notices and the last three payslips are required. A certificate from the employer stating that the employee is not the subject of a dismissal procedure must also be provided. Artisans, tradesmen, liberal professions and farmers must produce accounting documents.
Documents concerning the financial situation : credit (s) in progress, last bank or postal account statements, proof of personal contribution, RIB or RIP for future deductions.
Parts relating to the real estate project concerned by the credit : compromise or promise to sell, reservation contract in the case of a VEFA (Sale in the Future State of Completion), pre-contract for the construction of a detached house, estimate of work if necessary.

Once the file accepted

After studying the loan file, the bank grants or refuses the loan.

If the request is considered favorable by the lending institution, the latter establishes a loan offer to the interested party.

To validate the offer, the latter has a period of ten days minimum and thirty days maximum from the date of receipt. At the end of this period, if the borrower accepts the offer, the bank settles the amount of the capital borrowed from the notary in order to establish a definitive act of sale. Subsequently, the notary pays all the sums due to the seller or developer and charges the costs borne by the buyer.

 

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