This is a question that comes up regularly in the mouths of borrowers, whether one can smooth on a single line a mortgage and consumer loans? It is possible but we do not necessarily speak of smoothing.
Real estate loan, what to do credits conso?
Consumer loans can finance life projects, whether as part of a first housing development, whether to buy a vehicle or to pay in installments with a payment card. All these loans provide one-time life needs, but it is important not to be overloaded with these debts and especially to leave room to accommodate a monthly mortgage loan.
Thus, many homeowners end up with a home loan that has allowed them to access property and various consumer loans, which must still be repaid and with different levies each month. This credit management is not always comfortable and the legitimate idea of these borrowers and want to smooth everything in a single loan, that of mortgage. This operation is feasible but we do not speak of loan smoothing but rather of credit consolidation, the smoothing being associated with the formulation of an offer with two loans, this is for example the case with the PTZ.
Consolidate consumer loans and mortgages
Smoothing several loans over a single period amounts to repurchasing its various loans to benefit from a single contract, this operation is the grouping of credit. You should know that it is possible to proceed when the loans are in the process of repayment, if the borrower wishes for example to integrate a loan amount conso when applying for a mortgage, it may include consumer credit in the mortgage, the only requirement is that the amount granted is in connection with the mortgage, that is to say, dedicated to work or for example the purchase of a kitchen for the home.
If the mortgage is already signed, you can not go back on the amount, or the duration, so you have to proceed with a credit consolidation that requires you to buy back all outstanding loans, including the mortgage. The interest is to start on a new credit agreement by deferring all the amounts due and the different fees, if the share of mortgage is greater than 60% compared to the amounts to be repurchased, the repurchase of credit will be real estate. Otherwise, we are talking about a consumer loan buyback.
Simulate real estate loan and consumer loans together
To check if this operation is possible taking into account the situation of the borrower and the amounts to be bought back, it is possible to perform a simulation of credit consolidation, it allows to take into account the needs of the borrower and to propose several financing offers. Note that it is even possible to add a new project to finance in the operation, it is simply necessary to take into account the ability to repay and not to borrow more than necessary.