Credit repurchase without contribution


 

In the context of a repurchase of mortgage, it can be possible to provide a contribution, this allows to settle the debt more quickly and to take advantage of a more attractive rate, this practice is still little known to borrowers.

Use loan repurchase without contribution

Use loan repurchase without contribution

There are two operations which make it possible to redeem a loan, it is the repurchase of mortgage and the grouping of credits. If the objective of the first operation is clearly to play on current conditions to negotiate a better rate, the second is rather oriented towards a need to reduce monthly payments and return to balance. The contribution is only rarely used in the context of a credit consolidation, however it regularly comes back to the minds of borrowers when buying a home loan.

The objective of this repurchase is to be able to run the loan over a new repayment period and take advantage of the lower rates to negotiate a better APR, this translates into lower interest and possible great savings. Simply put, some borrowers are looking to double-down and add a personal contribution to further reduce the duration and cost of credit, a possibility but absolutely not an obligation.

The repurchase of mortgage without contribution

The repurchase of mortgage without contribution

If borrowing in the context of a real estate project can be done without contribution, through banking institutions accepting these types of financing, the same goes for the repurchase of home loan. Generally, borrowers have already used their personal contribution for the initial loan and have no new sum to contribute, this does not hinder the implementation of loan repurchase since the bank will bet on another guarantee, the repatriation of Bank accounts.

It is therefore necessary to establish a request for redemption of outstanding loans and to specify the current amounts of this or these loans, the online simulator makes it possible to obtain an estimate of the new rate and the new monthly payment, it is fast and it does not take only a few minutes.

Consolidation of loans without contribution

Consolidation of loans without contribution

The grouping of loans is also an operation which consists in redeeming its credits but the difference with the repurchase of mortgage concerns the number and the nature of the loans. Indeed, with this operation you can combine several loans into one, namely consumer loans and mortgage loans. The nature of the financing will essentially depend on the share of the mortgage loans to be taken over.

This operation takes place without contribution and it is not necessary to have to provide a contribution since the objectives are quite other than for the repurchase of mortgage, the borrower will seek to reduce his monthly payment to find balance. Simply, some tenants will use this operation to reduce the amount of monthly payments on their consumer loans and to finance their acquisition project, some banks offer these arrangements. Within this specific framework, a contribution is strongly advised to validate the financing and buy the property.

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