Credit: how long to have the money?

Money can be released quickly when you request an online credit simulator, but certain deadlines are incompressible, such as the reflection period.

How quickly can I get the money for a loan?

How quickly can I get the money for a loan?

To obtain a credit, you must submit an application either via an online simulator or at a bank branch, this application will then be studied and the applicant will be quickly informed of the feasibility of this financing. From the moment the agreement has been pronounced, it is necessary to wait for the reception of the offer of credit contract. From the signing of the contract, there is a compulsory period called the reflection period which allows the borrower to reverse his decision and cancel the obtaining of funds.

Deadline for obtaining credit funds:

  • Consumer credit: withdrawal period of 14 calendar days
  • Home loan: reflection period of 10 calendar days

This period cannot be reduced because it is a right given to the borrower and an obligation for the lender to respect this period. It is however possible for the borrower to play on the duration of the study by opting for an accelerated approach.

Get a credit in less than 24 hours

quick loans

Some online services guarantee that your credit will be obtained in less than 24 hours, very attractive times as this avoids waiting for the processing of your request. It is however necessary to establish a request during working days, immediately file the supporting documents requested, which allows very quickly to obtain a feasibility opinion. However, it is not a question of obtaining the funds in less than 24 hours because there again, it is necessary to respect the period of reflection or withdrawal to validate the release of the funds.

It is sometimes necessary to find a credit in an emergency, however, one should not confuse speed and haste, because obtaining a loan quickly still involves comparing rates, studying offers and making the right choice.

The simulator to quickly get a credit

credit loans

The online simulation tools are very practical, they allow you to quickly obtain a feasibility opinion for a loan but also offers from banking organizations. The principle is simple since the applicant can fill out a form, validate his entry and get in the process the best offers of consumer loan or mortgage according to his project. It is also useful to compare the bank loan conditions offered by different banks and financial institutions through comparative tables. Guides that allow you to quickly orient yourself to the right banking organization, making it easier to get credit quickly. Note that any loan simulation is free and without obligation.

Can we have several credits?

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

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

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.