As May 2024 approaches, many borrowers are wondering about the advisability of modifying their credit real estate. With rates announced at 3.71% for 15 years, 3.88% for 20 years and 3.98% for 25 years, this period could be strategic for those seeking to lighten their financial burden or optimize their savings. Let us analyze why and how to carry out such Steps.
Before taking steps with your bank, doing an online simulation will allow you to take stock of your current financial situation:
Analysis of current rates and their impact on your financial situation
In April 2024, the interest rates for the property loans offered were stable compared to March.
With a rate of 3.71% for a credit of 15 years, the rates are still more attractive than at the end of last year.
Whether you have an older credit with a higher rate, or you are considering a credit repurchase to reduce your monthly payments, is May the right time to renegotiate or repurchase your credit?
By reducing your borrowing rate, you can significantly reduce the amount of monthly payments you pay each month. But be careful, you risk extending your loan term and paying processing fees.
A suitable solution in times of crisis
Home loan repurchase is a particularly relevant strategy for those facing financial difficulties.
This approach not only allows you to benefit from better rate conditions, but also to consolidate several loans into a single debt with a reduced monthly payment and an adjusted repayment period.
If you are experiencing increased financial pressure due to a change in your professional or personal situation, this solution could restore your budgetary balance and bring you significant monthly financial comfort. Carefully consider whether current rates can justify this move before making a decision.
To judge the benefit of modifying your creditcarefully calculate the inherent costs, we recommend carrying out a simulation.
Strategies to Maximize the Benefits of New Credit
Edit your credit is not simply a matter of rate reduction. This may also be an opportunity to readjust the repayment term to better match your long-term goals.
For someone wishing to quickly free their budget from debt burdens, opting for accelerated repayment with higher monthly payments can be wise.
Conversely, extending your loan term can lower your monthly payments, thereby increasing your ability monthly to manage other expenses or investments.
