The steps for buying a house
Access to the properties is an achievement for the French. Buying, acquiring your first property is an essential step in the lives of many French people. Contact French Riviera Luxury Real Estate for more information. On the other hand, the first time it is essential to prepare your purchase and be as informed as possible in order to generate the most judicious decisions. The situation of first membership is determined in relation to the 2 years preceding the purchase of a principal residence. This means that will be considered a first time buyer.
Documents to provide for a real estate purchase
Several pieces must be provided so that the bank can study a mortgage document every time you are a first buyer: the identity documents and relating to the personal situation of the buyers; resource documents, such as the last two tax notices, the last three payslips and also by December of the last calendar year, as well as proof of their personal contribution; the components relating to the property effort, that is, the compromise or promise to sell, the reservation or construction contract, or the building permit for the property. You must understand that for first-time buyers who want a loan in any case, rental receipts can also be requested to show that this is the very first real estate purchase. Discover : https://www.estatenetfrance.com/en/property-for-sale/mougins. The home equity loan is a loan that can be obtained by buyers who have started a home-ownership savings program or PEL, savings that have been stuck for four decades. This loan frequently offers advantageous conditions for the holders of an ELP. There are other types of loans for first-time buyers such as home loans.
The budget for his first real estate purchase.
The very first question to ask yourself before starting a real estate purchase is the budget. Really, he determines the rest of your business. To prepare for the purchase of your property, start by defining your borrowing capacity. The capacity of the mortgage loan requirements, therefore, the purchase of the property. The calculation of borrowing capacity is based on income and the degree of indebtedness. The level of debt is the ratio of all loan payments, regular expenses and income. It is estimated that this ratio should not exceed one third of income, or about 33%. Remember, depending on the amount and size of your current credits, you will only be able to spend a certain amount, more or less important, on the repayment of your mortgage.