by Team AllYourVideogames | Aug 25, 2022 | Shopping |
Gone are the days when simulate real estate financing it was a boring and bureaucratic task.
Now this process can be done in the comfort of your own home. All you need is a computer or mobile device with internet access.
In a few seconds, the tool shows you the best alternatives for your profile and financial planning, highlighting the characteristics of each one.
In this article, we will present a step-by-step guide for you to learn how to do the simulation quickly and efficiently.
Follow along and clear all your doubts.
Learn More: How to pay off a loan and pay less interest?
What do I need to know before simulating real estate financing?
One of the ways to simulate real estate financing is through the website Compare Bem.
The most interesting thing is that it is not necessary to be an expert in the subject to do this process.
Another positive point is that the user does not need to download any tool.
Just define which characteristics correspond to your profile and wait for the result.
Before showing how you can simulate real estate financing, it is important to explain two important terms that will influence the result: SAC and Price Table (TP).
Price Table (TP)
It is a system in which the user pays fixed installments.
In the first years, the customer pays only interest. Therefore, the interest value is low and the amortization value is higher.
Even in the face of this volatility, the installments remain fixed.
In this alternative, the amortization amount does not change during the financing and the interest amount decreases.
On the other hand, the installments of the first years have a higher value.
It is essential to make it clear that both alternatives contain positive and negative points.
The best option is the one that meets the goals of each client.
Which financial institution contains the best financing rate?
Before simulating financing for your property, many people have doubts about which bank offers the most economical rate.
The concern is justifiable, because it directly influences the final result.
On this point, we need to be honest: there is no definitive answer to this question.
On the other hand, it is possible to highlight that the effective interest rate changes between 7% and 10% per year.
Another particularity worth mentioning is that fees vary according to each bank.
The economic situation in our country and abroad can also influence values.
To better understand the ideal scenario, we recommend simulating real estate financing.
The real estate financing calculator is one of the best alternatives to find out which financial institution is most suitable for realizing the dream of owning a home.
After all, it makes a comparison automatically, without bureaucracy and free of charge.
How much can a bank finance a property?
Most institutions are able to finance between 70% and 80% of the cost of the property.
To give you an idea, some alternatives finance 70% of used properties and 80% of new properties.
The positive side is that there are several tools on the internet that show how much each financial institution can finance or what income a client needs to have to conquer the property of their dreams.
That way, you can understand if you have enough capital to purchase a property or how long it will take to get the idea off the ground.
How to simulate real estate financing?
After discovering the main details to finance a property, we will explain how this process works.
The first step is to enter the official website of Compare Bem.
In the right corner of the screen, you will have a tool that helps you simulate real estate financing in a simple and unbureaucratic way, which is called “Compare real estate financing”.
When locating the tool (see image below), choose which credit system you prefer: SAC or Price Table (TP).
If you have not yet made a decision regarding this matter, it is possible to choose both alternatives at the same time.
Then, you need to make it clear what percentage you will make available for the entry of the property.
At this point, it is very important to be transparent, as this information influences the result.
Then, inform your monthly income, the value of the property with which you intend to invest, the term that you intend to pay off the financing and the State of your preference.
Finally, enter your email so that the system presents the best financing options, according to the information that was added in the tool.
Without a doubt, Compare Bem is a great real estate financing calculator.
Documents for financing
After discovering how to simulate real estate financing and choosing the alternative you prefer, it is necessary to separate the documents that are required from customers.
- Identity document (RG or RNE);
- Work Card;
- FGTS extract;
- Proof of income;
- Proof of Civil Status;
- Income Tax Declaration;
- Proof of residence;
- Joint certificate of debts referring to federal taxes;
- Documents of the seller and the property to be financed.
Are there other alternatives to simulate real estate financing online?
Yes. Another interesting tip is the Caixa real estate financing simulator.
It is not necessary to go to the financial institution to do this process. Just run an online simulation.
Then, the customer needs to go to a correspondent Caixa or a bank branch to finalize their financing and obtain their credit.
It is also worth knowing the used Caixa real estate financing. It offers several benefits to the customers.
Santander real estate financing is another option that cannot be ignored on our list.
As with Caixa, the customer does not need to go to a financial institution to simulate real estate financing.
In addition, Santander financing offers several benefits to the customer:
- Financing for up to 35 years with installments that do not complicate your financial planning;
- Possibility of supplementing income with anyone, being allowed partners who do not belong to the family nucleus;
- Real estate credit analysis on time, being able to finance the new property over the internet.
For customers who prefer other alternatives, there is also the possibility of financing through the company Quinto Andar.
In this company, it is worth taking out financing when the customer has a high down payment, the property has a lower price, the residence can be valued for years to come, among other reasons.
Here, we highlight the best online financing simulator alternatives.
Choose the contract option that best suits your profile and make your dream come true this year. It has never been so easy to simulate real estate financing.
After discovering how to simulate real estate financing, learn how to take out a loan at Caixa Tem.