Credit simulation: why and how?

Professional or private? To finance your projects, we offer you all the information on online mortgage simulators, the instructions to follow, for an increasingly advantageous rate.

Simulate to find the right credit

Simulate to find the right credit

It is often advisable for a future borrower to go through a simulator before committing to take out a loan. The argument put forward is that the loan simulation allows better study of the market in order to be able to negotiate its interest rate with the lender.

Interest from the credit simulation

Interest from the credit simulation

The credit simulation makes it possible to know the borrowing capacity of a borrower, that is to say the amount that the borrower can allocate to repay a new loan. This operation gives an estimate of the amount that can be obtained, and an idea of ​​the terms of the loan (amount of monthly payments, repayment period, total cost of credit). Then, the simulation allows competition to play by comparing the offers of different organizations. This makes it easier to negotiate and get the loan at the best rate.

Elements to be determined before simulating

Elements to be determined before simulating

Before going through a credit simulator, it is necessary to determine some elements beforehand. Indeed, the simulation tool will be based on these to analyze the situation of the borrower and provide the results. Thus, the borrower must take stock of his project (purchase of equipment, works, leisure, real estate purchase, etc.) on the one hand, and determine the amount necessary for financing on the other hand. His income and any current monthly payments are also to be defined.

Loan simulation: operation

Loan simulation: operation

Using the mortgage simulation tool is very simple. First, the borrower selects the type of project and indicates the amount he needs to finance this project. He will then have to fill in a few fields concerning his personal situation, his income or his current monthly payments. The mortgage simulator will use all of these parameters to calculate and provide the results. The borrower will then have a clear visibility of his future loan. Note that the rate communicated during the simulation must relate to the overall effective annual rate APR which includes all the costs linked to the credit.

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