A borrower with an auto company can sometimes have difficulties to find a mortgage loan financing, however there are institutions favoring these profiles, they can be found with a home loan comparator.
Auto entrepreneur and home loan
A borrower, having a stable and sustainable business, can at any time request a bank to obtain a mortgage. Simply, in the context of a entrepreneur in micro-enterprise status, the latter must reassure the bank on its business and it is the experience that will reassure the lender. It takes a minimum of 3 years of activity to hope for a home loan financing, below, the bank does not have enough perspective to be able to trust.
This assessment may, however, differ according to the credit institutions but also according to the possible co-borrower that may be added to the file. An auto entrepreneur with a permanent contract spouse may be able to obtain financing more easily, but only a feasibility study obtained through the comparator can confirm the funding.
Auto business and credit: more complex steps
The steps are systematically longer and tedious for an auto entrepreneur than for a borrower being an employee. Seasonality can play a role in the business of a microenterprise and it is mainly for this reason that banks will study the situation by analyzing income on an annual basis. Some months may be exceptional while others may be relatively low, which is important to have regular annual revenues.
The procedures are therefore necessarily more complex because it will take more than just the last three payslips to justify obtaining funding, a self-entrepreneur must submit his activity accounts and justify certain professional expenses or some income to complete the financing file, which will also require a feasibility study with the calculation of the debt ratio and the rest to live.
Solicit a comparator to save time
It is not easy to know which bank agrees to finance real estate projects for auto companies, knowing that the criteria are constantly changing and that some credit institutions are specialized in short-term financing, while others prefer financing. long-lasting. The comparator makes it possible to file an online simulation application and to centralize the application, which will solicit the organizations that can respond favorably to it.
The simulation of mortgage loan is offered free of charge and without constraint of commitment, it will be possible for a borrower in the status of micro enterprise to obtain several offers of housing loans allowing him to see the rates charged but especially of select the best financing proposal according to your situation. Good to know: this request is also valid for the purchase of a house, an apartment or a building, it is even possible to add an amount dedicated to the completion of work in the property).