What are the benefits of a real estate financing simulator?
One of the main concerns of those who decide to finance a property is, without a doubt, the interest rate. In fact, there are abusive charges that can compromise the buyer’s budget. A real estate financing simulator helps a lot in these hours, as it allows you to know in advance all the details of the transaction.
Quick and easy to use, simulators are important because they help you choose the best payment method. Thus, aware of the purchase conditions, the consumer is more relaxed to close the deal with the certainty that the installments will fit in the pocket. Read on and understand how it works!
What is a real estate financing simulator?
The simulator is nothing more than a tool offered by most financial institutions so that the client can have a preview of the values involved in the real estate transaction. The data requested for the calculation of the financing basically involve the following criteria:
- consumer purchase profile;
- category of property you are looking for;
- approximate value and location of the property;
- Type of financing chosen.
Experts recommend that if you are going to use simulators from different institutions, always compare the same quantities when making simulations. That is, if you want to opt for payment in the SAC table (Constant Amortization System), all simulations must be done using the same table, and so on with the other criteria.
How is the financing calculation done?
As we have seen, the real estate financing simulator uses some criteria to base the calculation. Generally, buyers are more concerned with the interest rate involved in the transaction. In order to calculate it, banks consider the customer’s risk rate, that is, their default possibilities.
The buyer’s monthly income, the financing term, the property’s entry price, the amount that will be committed to the installments, among other quantities that involve the client’s risks, are considered. Experts indicate that buyers should pay attention not only to interest rates but also to Total Effective Cost (CET) and how much they will pay for the entire transaction.
What are the benefits of the real estate financing simulator?
Helps you choose the best option
The great advantage of using a simulator is that the tool will point out which type of financing is most suitable for your profile. This is essential for choosing the funding institution. In fact, it is worth taking the simulation when negotiating with banks. Often, customers considered low risk get even lower interest rates.
Streamlines credit analysis
As we know, credit analysis is one of the most bureaucratic parts of the real estate financing process. There are a number of issues involved for the bank to consider the customer a good payer and then release the credit. After the simulation, it is easier to understand the conditions of the deal and make sure that the buyer will pay.
Easy to use
Financing simulators are available from most lending institutions. They offer the same options and the same comparisons, performing the simulation from the data of the purchase profile of each customer. Simply fill in the requested fields and simulate the details of the purchase.
With the real estate financing simulator, it became even easier to take the dream of home ownership out of the paper, ensuring a fast, safe and legitimate transaction!
Are you interested? Use our simulator and find out right now how much you can finance!
Financing conditions at CrediPronto:
- Standard interest rate from 6.90% pa + TR
- Financing up to 90% of the property value
- Issue of contract in 10 days