Including a car loan in a home loan is entirely possible through a financial transaction called loan consolidation. Explanations.
Combine your car loan with a mortgage
Many households wonder if this operation is possible: the answer is yes. A borrower who has taken out a car loan has the possibility of including it in a mortgage, it is also an operation which offers some significant advantages.
By using the grouping of loans of one or more consumer loans with a home loan, the borrower can benefit from the current real estate interest rate and have only one installment to repay all the months. Including a car loan in a home loan also allows you to be drawn only once a month by the same bank for the duration of the financing. The operation of this operation is simple: the remaining capital due will be assembled to form only one bank loan, including the car loan in the housing loan.
In addition, another solution is possible for first-time buyers who have taken out a consumer loan: buy a property with the help of a loan while integrating the loan already subscribed to in the transaction.
Include your car loan in a mortgage: organizations
To benefit from a grouping of receivables, it is recommended to turn to a specialized establishment which will take care of all administrative procedures instead of the borrower in order to find financing perfectly suited to its finances and reduce processing times..
As a banking intermediary, we are able to carry out a complete comparison of the different banks which offer to include a car loan (and motorbike) in a mortgage. The financial needs of the household will be taken into account so that the new credit adapts to the constant income of the borrowers and their life plans.
It is also possible to assemble the car loan, the home loan and an additional sum dedicated to a project such as the purchase of a new car or the performance of work in its housing. The total sum of the remaining capital due will be extended to reduce the amount of the monthly payment.
Simulation of repurchase of home loan by including its car loan
A tool that allows you to simulate, free of charge, your real estate loan consolidation operation with car loan is available on the website. It allows to realize the long-term effects of the operation on its finances and to establish a precise monthly payment taking into account the information provided on the form.
On the simulation, the borrower can indicate the credits being reimbursed and the amount he needs to finance a new project (real estate acquisition, purchase of a vehicle, works, etc.). The information collected is used to establish the borrower’s eligibility and the feasibility of its financing dossier.
Note that the validation of the simulator does not commit the household to continue the procedures.