The craftsmen or tradesmen can benefit from a mortgage allowing them to access the property or to invest in a secondary residence, here is a complete file on the financing of home loan for the artisans.
Artisan: borrow in real estate
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The status of craftsman is specific because it is about an entrepreneur, often in individual, who exerts a trade with a real know-how. Sole proprietorship clearly facilitates the management of a business for a craftsman, whether he is the only one to practice or has employees to accompany him in his business. Its revenues are therefore variable, sensitive to the activity of the company and also to the seasonal because in certain professions, days of closures or periods of inactivity are frequent.
Subscribing a home loan in a personal capacity will lead to a financial study involving the situation of the company, because the banker will have to check the amount and frequency of income. It is also advisable for craftsmen to have a minimum of 1000 euros per month excluding social security charges to follow up a housing loan file, without forgetting to provide the balance sheets of the company, as a rule the last 2 balance sheets help to reassure banks.
Borrow real estate by being a craftsman: the steps
Home loan procedures for a craftsman remain substantially identical to those of an employee borrower, it is only the consideration of income that can change depending on the status of the company and its activity. If a spouse is associated with the file, the application will have to involve the two borrowers, taking into account the marital status and income of the household. The first step is to apply for a loan online, making sure to specify the amount you want.
The simulation request will lead to a financing study, a study that can be done in 48 hours and that will require to provide supporting documents to validate the file and especially check the creditworthiness of the borrower. As part of a homeowner loan, it is usually the mortgage guarantee that will be retained to guarantee the repayment of the loan, which involves a visit to the notary. Finally, the borrower insurance must also cover the various cases of illness, incapacity or death, essential guarantees in an entrepreneurial activity and more specifically artisan. Simulations can also be done in this direction.
Compare mortgage rates for craftsmen
The status of craftsman does not mean that it is not possible to start comparisons and negotiations with several banks and credit institutions, it is instead strongly recommended to choose the best offer of financing. It is therefore possible to apply for a loan and to receive several proposals from specialized banks in the profiles of craftsmen. This quickly allows to study the rates currently offered in the real estate market but also to compare the insurance borrowers, guarantees that can be expensive among artisans. These steps are devoid of any commitment and especially offered free of charge.