How to apply for a bank loan?

Published on : 18 March 20203 min reading time

Do you have a project that is close to your heart and you are looking for a reliable source of funding to make it happen? The solution is obviously with a lending organization. In order for your banker to be able to grant you a personal loan, there are certain steps that you should never neglect.

You have to fake it first!

Long before starting a bank loan application process, it is advisable to carry out a loan simulation. This is a fundamental step in order to submit an application. In order to do so, it is advisable to use an online loan simulation tool. This 100% free and non-binding tool allows you to check whether or not you are creditworthy for the loan you wish to take out with a lending institution. If you are creditworthy, you can then find out, again thanks to the online simulator, your borrowing capacity, i.e. the maximum sum that the bank will be able to grant you. Simulating allows you to have a first idea of the level of your future maturities, to measure the economic feasibility of your project and to put all the chances on your side when you apply for a loan. You have a personal project and wish to find an original and innovative formula to finance it? mozzeno.com offers you a formula of participative loan between 1.250,00 and 30.000,00 €. The duration of the loan varies according to the amount requested. It is of maximum 60 months.

Compare to avoid making a bad choice!

If you don’t have too much time to go round the banks, you just have to connect to the internet to put several credit institutions in competition. After having simulated, you can take the opportunity to compare the offers one by one. You will then have a better chance of finding the best credit offer that best suits your situation before you go ahead. In just a few clicks, you will have a range of possibilities and prices. From your computer, or smartphone, or tablet, you can compare the annual percentage rate of charge (APR) without forgetting the various qualitative aspects of each credit offer, such as the handling fee, repayment period, compensation in the event of early repayment (IRA)…

Concrete backrest

After having carried out a loan simulation and comparison, you must put together a very solid file to prove your credibility to your bank: identity document, permanent employment contract if possible, your last three pay slips, your account statements over the last 3 months to show your banker that your finances are well managed, and so on. If possible, it is better to specify in your file the additional sums that may inflate your monthly income: rental income, pensions, allowances… By analysing your file, your bank will undoubtedly determine your solvency. Therefore, the more your financial situation is in order and the more regular your income is, the more your banker will be inclined to grant you a loan to finance your project.

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How to carry out a home loan simulation?

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