Prepayment of a real estate loan

If you want to pay off the entire mortgage loan you took out a few years ago, there is nothing so complicated about it, you just have to make an early repayment. However, before proceeding to this step, it would be preferable to send a letter of repayment of your real estate loan to the banking institution. You are not obliged to write a letter of prepayment for your mortgage. However, in order to facilitate your operation, it is recommended that you send a letter of request for repayment. Under Article L.313-47 of the Consumer Code, a borrower has every right to repay his or her home loan in full. However, before doing so, he must request the agreement of his lending institution. In order to proceed with the early repayment of the loan, it is advisable to make a request with a letter to be sent to the banking institution. This letter must be sent by registered mail with acknowledgement of receipt.Several factors push the borrowers to write a letter of early repayment of loan.Some realize a request for early repayment following a sale or a transfer of the real estate. Some borrowers request prepayment due to a sale or transfer of their property. It is perfectly acceptable to include the reason for your request in your letter. This reason may help you to waive the prepayment fee. In your letter, you should also include your contact information and that of the bank. Don't forget the purpose of your early repayment. Do not hesitate to use article L. 313-47 of the Consumer Code to support your request. It is important to know that this article authorizes you to make an early repayment of your mortgage. If you need help writing your letter of request for early repayment, we recommend that you follow this template. How do I do a loan simulation? Have you managed to pay off your current loan in full, but already have new real estate investment plans? If you were perhaps not very well informed when you took out your first loan, you know from experience that it is interesting, even essential, to do a loan simulation before taking out anything. These last years have indeed seen the strong growth of online banks, reputed to have products sometimes more advantageous than the traditional banks. However, if going through a broker to evaluate your borrowing capacities can save you time and money, the latter generally works with partner banks, and the fields of action can be restricted. The best way to do this is to use an online loan comparison service, where you can carry out a loan simulation in just a few clicks. This is the case of the website lesfurets.com. Specialists in the comparison of services such as insurance, credit or energy contracts, Les Furets offer simulations directly on their site. The simulation of real estate loan at Les FuretsBecause the subscription to a real estate loan requires to master more key elements, Les Furets propose simulators to evaluate different points:Your capacity of loan, to have an idea of the sum which you are able to refund each month while living correctly.Your debt ratio; it must not exceed 33% to obtain a loan.Your monthly loan payments: depending on your borrowing criteria, you will have an idea of the amount you will have to pay back each month.And to learn more about the real estate loan, go to the Furets website!