First and foremost, the financing plan depends on the type of real estate project you plan to carry out and more specifically on the amount of your investment and your property situation.
That is why it is advisable first of all to establish a provisional budget even synthetic in the form of a plan, which will allow you to release your investment capacities.
In order for the real estate financing plan to be as relevant as possible, take into account all your future expenses, namely the property tax, any travel, insurance or heating expenses whose costs will necessarily change with the change of residence.
Once you have set the monthly amount you can allocate to your home, you will need to determine how much you can borrow.
Calculate your debt ratio and borrowing capacity
In this second step, you will first calculate your maximum debt ratio and then determine your borrowing capacity. These results will be very useful when you prepare the funding study.
To know how to calculate the debt ratio, simply put yourself in the place of the bank’s risk analysis service. The latter seeks to be surrounded by maximum precautions.
Also, it will retain only income of a certain nature. For example, incentive or participation bonuses will not be counted. On the other hand, a thirteenth month by its regularity will be considered as an integral part of the monthly remuneration.
On the other hand, the lending agency will reconcile the debt ratio to the amount remaining in the account once settled the mortgage, what is called the “rest to live”. This balance must be sufficient to cover all other expenses.
Clearly, we can face a refusal of bank loan, even with a debt ratio of less than 33%, especially if the “remainder to live” is considered insufficient.
Once you have checked the debt ratio, the next step is to determine how much you will be able to borrow. For this, we invite you to use our borrowing ability simulation software.
This financial calculator will help you determine how much you can borrow based on the term you choose and the interest rate. At this point, you may not know the final rate you are going to negotiate. Indicate an average rate close to the market to start your first simulations.
Take into account the different subsidies for accession
Be aware that a real estate financing plan can use different types of loans. It is therefore necessary to check in the first place if you can benefit from assisted loans. These are credits subsidized by the government, generally more advantageous than the bank loan, here are the main ones.
The zero interest loan
The last Finance Law has tackled a number of tax loopholes. As a result, the 2012 zero-rated loan terms have been fully modified. The PTZ is now limited to the acquisition in the new and its amount depends on the level of income of the borrower.
Some local authorities sometimes supplement the aid schemes put in place by the public authorities through various subsidies for accession in the form of subsidized loans or subsidies.
Find out about the site of your town hall, department and region to know the possible local aid and their conditions of obtaining. Here are some examples of local loans in effect.
The employer loan
The employer loan proposed by the CIL (Interprofessional Housing Committees) can be a great help. At a particularly attractive rate (most often around 1.5%), it is only open to non-civil servants working in companies with more than 10 employees.
To know your rights in this matter, you must contact your employer. However, be aware that this is not an absolute right and that the amount allocated depends primarily on the possibilities of the company at the time you make the request.
The Social Accession Loan (PAS) is not of particular interest, but can add value to your real estate financing plan, because it allows you to benefit according to the level of your income, the APL (Customized Assistance Housing).