You need a credit redemption with cash but you want to see a loan repayment simulation before. In fact, when an early repayment of a home loan, 3% of the repaid capital is due to the bank in prepayment penalties. Other fees are added to the loan application.
Get a credit redemption simulation
You want to collect all your credits (mortgage, consumer loans, personal loans, money reserves and overdraft). On the amortization table of the various loans, you will raise the remaining capital due after the last monthly payment.
For home loans and work loans
It will be necessary to add to this amount (capital remaining due after the last due date) a prepayment penalty of 3%. It is limited to 6 months of interest but as a precaution, we always retain 3% in the simulation.
For consumer credits
It will be necessary to add 1% to the outstanding capital only if the amount to be refunded is greater than 10 000 USD (reduced to 0.5% if the credit ends in less than 12 months). For money reserves also called revolving, there is no prepayment penalty regardless of the amount.
Once the amounts shown in the simulator, the loan repayment simulation is displayed indicating: the amount borrowed including the fees, the new monthly payment and the rate.
The grouping of real estate loans
It can be very interesting to consolidate real estate loans, despite the prepayment penalties to add because you get very low fixed rates. It will be enough to make a simulation of mortgage loan on a duration equivalent to that which you have left to realize the reduction of the monthly payment obtained.
The consolidation of consumer credit
The main interest is to reduce your debt and adapt the new monthly payment to your borrowing capacity in order to rebalance your budget. A pooling credit simulation immediately indicates the realized gain. The rate is also reduced and much lower than the rates applied for money reserves of course.
You ask yourself: how to get a credit redemption easily? We will respond to you immediately using a loan simulator. We study all possibilities with you. Then, we take care of everything for you (interrogation of the various specialized banks, follow-up of the file and setting up). It’s simple and easy.