You can accumulate several credits, whether real estate or consumption, within the limit of the maximum authorized debt of 33%.
You can have several credits in the process of repayment, whether they are real estate loans and / or consumer loans. The only limit lies in the authorized debt threshold, which is 33% of the borrower’s or borrowers’ income (if the credits were contracted together).
Have multiple credits
This means for example for a borrower who earns $ 2,000 net per month that he can accumulate monthly loan payments up to a maximum of $ 660 (2000 X 33/100). Beyond the 660 dollars of monthly payments, he finds himself in a situation of over-indebtedness and can meet serious difficulties to get out of it financially. It is therefore necessary to keep a regular eye on the state of its finances and not to wait until the situation becomes complicated to resort to solutions. Taking stock with your bank advisor can be a solution,
Rest assured, many households have several credits in the process of repayment and this does not constitute any danger, as long as the capacity of repayment and that the debt is consistent. Simply, it is always the unforeseen that can credit instabilities and therefore require the use of various operations, such as for example the grouping of credits which allows to pass from several loans in progress to one with a reduced monthly payment. The idea is simple: ask to have your various credits bought back by a specialized establishment to benefit from a single direct debit.
Have several mortgage loans
Some borrowers accumulate home loans, in particular for property acquisition projects, in primary residence, secondary residence or even in rental investment. It is quite possible to accumulate several credits within the limit where the debt capacity allows, again this is the 33% debt ratio. To calculate your debt, refer to our tool. If a borrower finds himself with too many credits or his debt ratio is too high, he can resort to a credit consolidation, an operation which makes it possible to combine several loans into one and to reduce the amount of monthly payments to find a correct debt . Again, this funding adapts to all types of needs and credits, we can combine consumer loans with home loans, and even finance a new project.
To obtain a free estimate within the framework of a grouping of several credits at the same time, it is advisable to carry out an online simulation making it possible to compare the proposals of banks and credit institutions offering this financing. The interest for the borrower lies mainly in the reduction of monthly payments but also in the clearly simplified management of the withdrawals from the bank account. Note that this simulation is offered free of charge and without obligation, it is intended for borrowers who are tenants (or hosted) as well as owners of their accommodation.