Banks have several financial requirements to give a home loan to a borrower. Among these requirements, banks want the borrower to have about 20% of the amount of real estate financed and this can be a problem for those who do not have a personal contribution.
To obtain a mortgage without any personal contribution or guarantee, how is it possible?
A mortgage can be obtained without personal contribution or guarantee. However, this is possible only if the bank considers you to be a good profile eligible for this favor.
A bank considers that a borrower has a good profile if he has a credible financial and professional position to a credit without contribution. This stability must be accompanied by attractive monthly income coupled with a CDI. Banks consider that the “good profile” is young, and has a minimum of savings.
The importance of the file
Even if you present a good file, you should not neglect an important step: the constitution of the file. The good borrower profile must have an excellent record to obtain a mortgage without any personal contribution or guarantee.
For this, the future buyer must pay all of its current loans, especially the heaviest, it will reassure banks.
The good borrower profile must also ensure that its debt capacity does not exceed 1/3 of its income. A mortgage simulation will allow you to judge your own situation.
Finally, the banks will ask you for your last three bank statements, so it is necessary to avoid bad management of your accounts and your overdrafts for the last three months after the request.
Zero Rate Loan
The Zero Rate Loan is considered a personal contribution. It facilitates access to real estate credit. This type of loan is interest-free and is for people who have not owned a principal residence for two years following the loan offer.