The interest rate of banks has never been so low. Regarding the average rate of real estate loans, it is 1.41% excluding insurance at the end of September 2016 against approximately 4% in November 2011. These figures from the Observatory of financing CSA / Credit Housing show the plunge of rates real estate credit within 5 years. According to Sandrine Allonier, bank relations manager at the broker, it is even possible to obtain a rate of 1.30 or 1.40% for a standard file for a credit over 20 years.
Perform a simulation to be better fixed
In any case, the credit simulation is the best solution to find a loan at a competitive rate and in minutes. It is enough to connect to a specialized portal to find a credit simulator. It then remains to complete all the information requested by the tool to obtain after a few clicks all the essential elements of the loan. These include the total cost of credit, the Total Effective Rate (APR), the amount of monthly repayments, and the duration of the credit.
A simulator to find the best offer
The advantage of running an online credit simulation is that it is mostly free. This tool is also quite simple to use since it is enough to fill boxes to see the results appear after a few seconds. Its speed is also an essential asset, at the moment where saving time means money. Finally, it allows to find a selection of the best credit offers according to the criteria of the borrower. It only remains for him to select the one that seems to him the most attractive and to get in touch with the lending institution in order to begin the negotiations.
Whether buying a car, building a house or buying a home, or looking for a consumer loan, the credit simulation is both economical and practical.