How is the mortgage loan simulation going?

Borrowers often tend to minimize their commitments when it comes to lending. This often results in insolvency or over-indebtedness. It is strongly recommended to use a credit simulator before subscribing to a credit offer. Where to simulate and what information to provide? But above all, what information do you get with mortgage loan credit simulators? Read more at

Where to do your credit simulation?

Where to do your credit simulation?

You have several options to carry out your credit simulation. You can ask your bank to do a simulation. This approach, however, requires that you move to an agency. It will probably be necessary to make an appointment with a counselor. To avoid such inconvenience, you can simply use an online mortgage simulator.

The online simulator is conducted exclusively via the internet. The simulator sites are available 24/7. You can do your simulation anywhere and anyhow. The result is mostly instantaneous, without waiting. This is a considerable time saver.

A third option is to turn to a broker. The latter is an intermediary in independent credit whose mission is to assist borrowers in the search for financing solutions and in the constitution of the file. However, you should know that a broker is paid but the result is sometimes more convincing to find the most interesting offers.

What information to provide?


Each site has its own method for doing a credit simulation. Some ask you only the amount of the loan and the duration of it. These simulators then establish their result on an average of the rates charged by the main credit institutions that offer a mortgage loan. Other sites leave you to determine the interest rate. This means that you have previously compared the offers to select the one that suits you.

On the other hand, simulators may also ask you for other information such as the value of the property on which you want to build the mortgage loan. According to the information gathered, the result and the presentation of the result will differ.

What information is delivered by the simulator?

The loan simulator details the offer that interests you. Depending on the amount borrowed, the total duration of the credit and the rate applied, the simulation presents a table that reflects the evolution of your monthly payments consist of a share of capital and a share of interest. The most efficient simulators include in this estimate the costs of acts related to the constitution of mortgage, namely the duties and taxes and the emoluments of the notary. They also take into account the mortgage loan insurance fees. In the end, you get the total cost of credit based on the APR or overall annual effective rate.

The simulation’s main interest is to evaluate the feasibility of your project and to determine the most appropriate credit formula for your financial situation, income level, debt ratio, repayment capacity.

How is the mortgage loan simulation going?