Redeem your credit with a mortgage loan buyout

 

If you have a mortgage and are considering negotiating it or having better rates, this is the option for you. It is a formula dedicated to the repurchase of mortgage loan.

Mortgage buyback process

Mortgage buyback process

With Finday, you have the option to redeem your loans, especially mortgages. To do this, you must contract a new formula intended to lighten your charges. This is a buyout offer to decrease your repayments. Indeed, too high monthly payments with high rates often pushes you to find yourself in the red. By choosing a mortgage buy-back offer, you will solve all of these problems, including paying only ONE monthly payment and ONE rate.

We will therefore study together the issue of redemption and discuss your interests. We will proceed by an analysis of your financial statement and your means of reimbursement. Then, we will do a thorough study on the possibilities of repurchases of your loans. We will deduce from this whether it is profitable for you to buy back all your credits or whether it is necessary to find another solution. Since a redemption will generate many costs, consolidating all the credits with a single organization prevents you from over-indebtedness. It also allows you to save money. Advice from a broker will help you make the right choice.

Frequently asked questions about buying back a mortgage

Frequently asked questions about buying back a mortgage

  1. When to use a credit buy-back?

    If you are starting to experience difficulties in paying off your receivables, it may be time to think about a loan buyout. This, in order to avoid delicate financial situations and even the filing with the BNB.

    The repurchase or regrouping of the loans can make it possible to reduce the total amount of the monthly charges and this, by authorizing to repay the loan over a longer duration.

  2. What is the response time?

    As soon as we receive information from the borrower and details of the various loans in progress, we can already issue an opinion on the feasibility of the file.

    If it is favorable, we immediately transmit it to the banking organizations with which we work so that they analyze the financial situation of the borrower.

    If all the information provided is correct, the response to the credit request can often be made during the day.

  3. Is the interest rate fixed?

    In the event of repurchase of credit composed only of personal loans, the rate is fixed.

    In the case of a redemption with a mortgage loan and possibly one or more personal loans, the rate can be fixed, semi-fixed or variable. This will depend on the choice of the borrower on the type of rate he wants for his new credit.

  4. Is it necessary to have several credits in progress to be able to carry out a regrouping?

    No, even with a single loan, you can completely request a redemption or a grouping of loans.

  5. Can we buy back a credit union?

    After analyzing the request and if it is possible, it is of course possible to buy back a loan that has already been bought.

  6. What are the conditions for submitting a mortgage loan redemption request?

    At least have a current loan, whether personal or mortgage. And have a financial situation that meets the conditions requested by the banking organizations with which we collaborate.

  7. How do I get the full details of all my loans?

    If you can no longer find your different credit contracts, you can know the details for free via 3 ways:

    • Do you have an EID ID card reader? So take your identity card and your reader and go to the website of the Central Credits for Individuals
    • by going to the BNB branch nearest to you
    • by requesting the consultation of your data by post, accompanied by a double-sided copy of your identity card. 
  8. Do I have to have a current mortgage loan to buy back?

    No, if there is no mortgage to buy back, you can definitely ask for a personal loan redemption. This repurchase is also called credit consolidation.

  9. Who takes care of contacting the banking organizations and closing the credits in progress?

    In the event of repurchase of mortgage loan, it is the notary who will take care of contacting and closing the mortgage in progress thanks to the funds released by the new lender.

    In case of repurchase of personal loan (s), we take care of everything! Among other things, to contact banking organizations and to settle credits.

  10. What is the difference between redemption and credit consolidation?

    There is none, redemption and consolidation both have the same operating principle, that is to say that we buy the loan (s) in progress whether personal or mortgage.

Real estate loan for retirees

Are you retired or approaching retirement age and planning to borrow to buy real estate? Discover the essential information on the mortgage for retirees.

Apply for a home loan when you are retired

Apply for a home loan when you are retired

If it was previously complicated to be granted a loan while you are retired, it is now rarer for retirees or people over 60 to access the mortgage, with long-term financing term. Banking establishments are in fact less reluctant to lend money to seniors because of their quality of life, the financial wealth they have, as well as the increase in life expectancy.

With regard to shorter repayment credits, consumer loan organizations agree to lend to retired people because only small amounts are involved. You should also know that retirees want reassuring loan applicants for banks and financial organizations because they have a certain stability, both in terms of finance and life. They are not exposed to the risk of unemployment and dismissal (logical since they no longer work) and generally have real estate and movable assets. However, this does not mean that getting a real estate loan for retirees is easy!

When simulating a home loan, the retiree should know that the bank will look at his age at the end of the term. And it is rather rare that the repayment of a mortgage does not exceed an age of 80 or 85 years, knowing that a mortgage has a duration spanning an average of 15 years. Young retirees want to be the best candidates for long-term loans.

Apply for loan insurance

Apply for loan insurance

What creates the difference between two people applying for a real estate loan for retirees is their state of health, and consequently the cost of mortgage borrower insurance can be as high as the cost of the loan itself. And the more risky the state of health of the borrower, the higher the amount of the premiums.

You should know that the amount of borrower insurance is calculated from the health questionnaire that you complete when you apply for death insurance to guarantee the mortgage for retirees. It is recommended not to hide anything: the medical advisers conscientiously study each file and, in the event of erroneous declaration, you risk losing everything benefits from the insurance.

For an elderly person whose health comes to pose problems but who wishes to borrow, there are certain solutions, under the condition of having an inheritance: the mortgage life loan and the guaranteed mortgage loan.

The mortgage life loan provides access to the bank loan. The sum is lent in the form of an annuity or principal, and the guarantee put in place is a mortgage on real estate.

The guaranteed mortgage loan allows a loan in the form of capital or annuity. The loan cannot exceed 70% of the value of the property placed on the mortgage and can be repaid in monthly installments. It is covered by a double guarantee: the mortgage and the deposit.

You can therefore look for the retirement home loan that suits you best and thus access the loan to make your real estate project a reality. Do not hesitate to contact a broker to get help and to benefit from the best borrowing conditions.

Is it possible to get private loans without property?

Obtaining a loan is a complicated task since financial institutions put many obstacles to obtain it, as we all know, there is a crisis situation that has caused banks to refuse to provide loans to their clients with the same ease as before; These must meet a large number of requirements and conditions so that the user finally receives the money he needs. Given this situation, a series of private equity companies have emerged that provide private loans, if you want to apply for one of these financial aids, you need to have a property that guarantees the loan, in some critical cases, there are no real estate assets either. that guarantee the loan Is it possible to get private loans without property?

Check other lender companies offers

Check other lender companies offers

Depending on each company, one or other conditions are offered. In the case of our company, we can provide private loans to our clients with the only guarantee of a guarantee, this can be real property or not, which means that the client can guarantee his loan with almost any type of object. Our users can guarantee their private capital credits with real estate, vehicles, art collections, taxi licenses, etc. almost everything works, the only exception is jewelry.

This entails the fact that the user can qualify for a private equity loan without the need for real estate. We are going to grant you up to 20% of the value of the guarantee, for this, the quality of the guarantee must be optimal.

If you have real estate, these must meet a very important condition to be guarantees of our credits. Real estate must be free of charges and mortgages, flats, houses, premises, etc. may be valid. We do not accept plots, plots, warehouses, etc. since these goods are too subject to variations in their prices and therefore are not acceptable guarantees.

Team of private lenders

Team of private lenders

Our company is made up of a team of private and private lenders, we have extensive knowledge of financial and real estate issues, this enables us to provide clients with all the assistance they need and to be able to deal with as many aspects as possible. In this way, we can speed up the procedures and the client will obtain their money in the shortest possible time, this liquidity can be had in less than 72 hours, provided that we have received the necessary documents in our offices.

We offer all kinds of facilities to pay our private capital loans; quotas can be met in monthly, quarterly, semi-annual or annual installments. We adapt to the specific needs of each user; Among other advantages, we offer credits even to people who are in difficult economic situations, such as unemployment or late payment.

What’s in a private loan?

What

Our private loans are absolutely legal and are regulated by the Ministry of Health and Consumption; The agreements are signed before a notary and are carried out anywhere in the national territory, without the need for the client to travel.

In conclusion, our company offers private loans without real estate, there are many options to guarantee the credit and if you need cash, this is the best opportunity to get it in a short time and with guarantees.

Renovation loan for work on your home

Renovate, transform or enlarge your property via a contractor while taking advantage of an advantageous rate, it’s possible! The renovation credit allows you not to touch your savings and offers many advantages. We will detail the conditions required to be able to benefit from it.

In which cases is the loan of works advised?

In which cases is the loan of works advised?

This type of installment loan is ideal if you want to renovate or transform your home.

For example, you can use it to enlarge your house, carry out painting work, renovate your kitchen, install a new bathroom, equip yourself with an alarm system, arrange your garden or even build a veranda or a swimming pool. …

However, you cannot use it if:

  • You do not own the property to renovate
  • You want to do the work alone (without going through a contractor)

The advantages of a renovation loan

The advantages of a renovation loan

The work loan is much more flexible than mortgage credit:

  • You receive a quick decision
  • Funds are available 48 hours after signing the credit contract
  • The rate is fixed and advantageous: you therefore repay the same monthly payment every month
  • You must neither hire a notary nor waive mortgage guarantees
  • No expertise is required either before or after completion of the work

The conditions of the works credit

The conditions of the works credit

You will be asked to collect the various quotes or purchase orders received by the contractors you met in charge of the work to be done.

The amount of the loan for your renovations and alterations must be at least $ 1,500. The duration of the credit can range from 6 months to 120 months.

Regardless of the amount or duration of the loan, you will always benefit from a fixed prime rate of 2.94%.

To perform a non-binding simulation, use our credit simulation tool for your renovations. You can then submit your request online via our credit form to receive a quick response and carry out your projects.

Fast loan: Funding in less than 48 hours and in 4 steps!

Need immediate money? Using a consumer loan is recommended to benefit from funds to finance the purchase of goods or services. However, applying for a loan from a bank or financial institution often takes several days. What to do ? For an urgent need for money, most online financial organizations offer quick loans without proof. This is a great way to solve your financial problems quickly. In addition, this form of borrowing is obtained in less than 48 hours. How to do ? Details!

1. Compare fast credit offers without proof online

1. Compare fast credit offers without proof online

This type of loan is classified under the credit for small income. Indeed, for individuals with limited income, it is an ideal means of immediate financing. To know that this loan offer is easy to find today. On the internet, several fast credit proposals in less than 48 hours are available. You just have to choose the ideal offer. For this, it is necessary to go through the comparison of all these propositions. Indeed, comparing allows you to find the best offer adapted to your situation. If you want fast credit without proof and in less than 48 hours, you must use an online comparator. This tool makes it possible to come across an excellent proposal.

2.Have an ideal debt ratio for a deal in 48 hours

2.Have an ideal debt ratio for a deal in 48 hours

Getting a quick loan agreement without proof is quite simple. All you need is a good borrower profile. Moreover, the debt ratio is a determining factor in his situation as a trusted borrower. By proving to banks and financial institutions that you are able to repay the quick loan, a positive agreement is obtained. With a debt ratio below 33%, you can easily put financial institutions at ease. So getting a loan in less than 48 hours is easy.

3. Find the advantageous rate for your fast credit without proof

3. Find the advantageous rate for your fast credit without proof

For cheap immediate credit, finding the ideal rate is essential. You should know that each fast loan proposal and without proof online differs in terms of interest rate. In this regard, considering this point is essential to find cheap credit. You can actually use the interest rate of each offer as a criterion for choosing the best quick loan without proof. Be aware that using an online loan comparator is useful and effective in finding the cheap rate. In addition to helping to find a credit offer in less than 48 hours, this device is also practical for evaluating rates and comparing.

4. Make your immediate credit request in less than 48 hours

4. Make your immediate credit request in less than 48 hours

Fast credit without online proof is a form of consumer loan currently used by many households. To solve an immediate lack of funds problem, this is the best solution. These individuals all go online to apply for credit without proof in less than 48 hours. Indeed, you can make it easier to apply for a loan by going online. Guaranteed time savings without leaving your home!