As you may know, we offer Internet users viewing our articles the opportunity to ask us questions. When a question comes up regularly we decide to make an article of it. A request comes up quite often: Is it possible to make several mortgage loans ?
We will answer it in two parts because this question is in fact twofold:
- Can we make several different credits to acquire the same accommodation?
- When you are buying a home, can you take out a second loan to buy a new property?
1) Not only is it possible to apply for several loans to buy the same property, but this is the case most of the time.
Generally the financing plan for the acquisition of real estate is composed as follows:
- A bank loan called a principal loan.
- A personal contribution.
- Loan 1% employer, if you are entitled to it, know that it cannot exceed 50% of the cost of the purchase. The rate is between 0 and 2%.
- Social accession loan (PAS) it was created to allow families with modest incomes to be able to access the property.
- The Zero Rate Loan (PTZ or PTZ +) was previously mainly reserved for buyers of new housing. For some time the purchasers of an old property can claim it on condition of carrying out renovation works representing at least 25% of the amount.
PAS and PTZ are subject to income conditions and various other award criteria.
Important: Be aware that not all loans will have the same repayment duration. Your bank advisor can help you build your file, not only for bank credit but also for additional loans. He may in particular proceed with a smoothing of the loan. It is a technique allowing you to integrate all the credits to which you are entitled and to be able to repay the same amount each month until the end. Inquire.
2) If you repay one or more mortgage loans, nothing prevents you from requesting another to acquire a new property.
The only brake is your debt capacity, that is to say that the lender will check if your financial situation (income, debt), allows you to repay the various loans without exceeding the debt ratio which is generally 30% of income.