Thanks to our home loan calculators, assess the cost of your loan as precisely as possible and adapt your financing plan accordingly.
Our online home loan simulators
Whether you want to estimate your borrowing capacity, calculate your monthly payments, judge your debt ratio or predict your notary fees, all of our home loan simulation tools are there to help you with your project.
Example of mortgage loan simulation
We are going to take the fictitious situation of a couple who wants to do an online loan simulation using our tools. After several months of searching, they have finally found their dream apartment in Bordeaux for €430,000 and they want to know if they can afford it.
To do this, they first noted some information about their situation: the income of each borrower, their expenses, their contribution…
Then, they used the tools available on lesferets to complete their free home loan simulation and obtain:
- The term of their home loan
- The rate of their mortgage
- Their borrowing capacity
- Notary fees
- their ability to buy
With all this information, they were able to fill in the following table and find out if they were going to be able to buy the apartment they want.
|List of necessary information
|Income of the 1st borrower
|€2,600 per month
|Income of the 2nd borrower
|€3,000 per month
|€300 per month (car loan)
|Duration of the mortgage
By varying the different parameters of our free home loan simulation tools, they determined that their project was feasible with a 25-year loan at a rate of 2.45% .
Thanks to this table, our couple knows precisely what their borrowing capacity is . If they wish to have lower monthly payments, they can call on a broker who will offer their file to several banking establishments.
With our notary fees simulator, our couple finally has the answer to the question “ how much to borrow for our project ”. Indeed, we must not forget that notary fees are added to the price of the property and that it is therefore necessary to include this significant sum in its free mortgage simulation.
Now that they know how much to borrow , what their purchasing capacity is and that they have performed a free home loan simulation , they are ready to compare offers and find the one that will be the most advantageous for them!
How to read a real estate loan simulation?
You have received a mortgage offer from a bank and you want to know how to understand it? Here are the things you need to pay attention to:
- the APR for annual percentage rate: the lower it is, the less your credit will cost you.
- the TAEA for effective annual rate of insurance: it corresponds to the borrower insurance of your loan
- the application fee : this is the amount that the bank charges for the study of your file
- guarantee fees : they vary according to the guarantee you have chosen for your mortgage
- early repayment indemnities : this is the amount that the bank will charge you if you wish to repay your credit earlier
Do not forget to also check the information concerning the repayment period of the loan or the amount of the monthly payments. All this data makes it easy to compare several offers with each other and determine which one is the most interesting for your project.
Simulate your mortgage online with lesfurets calculators
As you will have understood, using the free online project simulation and mortgage loan tools allows you to have a quick and realistic overview of your borrowing capacity , the amount of your monthly payments and your debt ratio so that you can find the suitable property.
In addition to ensuring that you obtain your financing correctly rather than having uncertainties by carrying out these procedures yourself, applying for a loan online via a mortgage loan comparator is the simplest method for making non-negligible savings on his project . Enjoy!
Frequently Asked Questions About Home Loan Simulation
How do I calculate my borrowing capacity?
To calculate its borrowing capacity, it is advisable to use a home loan calculator. By entering some information such as income, contribution or expenses, it is possible to obtain an estimate of your borrowing capacity in a few seconds. Depending on the duration of the loan, you then have an idea of the amount you can borrow but also the monthly payments you will have to repay.
How do I calculate my monthly mortgage payments?
Rather than doing complex calculations by hand, the easiest way is to go through a home loan calculator. The one we offer you is very easy to take in hand since you just have to indicate the amount you want to borrow and then choose the duration of the loan. Depending on your choices, you can vary the duration to find the monthly payment that best suits your situation.
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