Make Up Your Credit Report
Once you have negotiated the terms of the home loan, the next step is to gather all the necessary supporting documents to study your application. Indeed, the Commitments Department will want to verify that you do not present a significant risk before agreeing.
What are the proofs to provide when setting up your credit report?
The documents that are requested by the bank can be classified into three categories:
- Documents that are related to the real estate purchase
- Proof of identity and residence
- All the documents concerning the financial situation of the borrowers
Justify your real estate investment
If you bought an old home, you must provide a copy of the sales agreement or the promise to sell. This must include the appendices if applicable and in particular all real estate diagnoses.
In the case of a purchase in new, you must submit a duplicate of the reservation contract if it is an apartment purchased off-plan through a developer or a copy of the construction contract if you have a house built. In both cases, you must attach a duplicate housing plans.
You must prove your identity. To do this, you must provide a copy of your national identity card or passport.
Warning: the documents must be valid. As well check this point before making your request and possibly do the necessary formalities.
To justify the address of your current home, you must produce:
- Invoice phone, gas, electricity or water
- Home insurance release
- Title of property or rent receipt
For first-time buyers who live with their parents, the bank will ask for the following documents
- A copy of the national identity card of parents
- A certificate of honor certifying that you live at home
- Proof of address in their name
The financial situation
Analysis of bank statements
The bank wants to analyze the bank statements of the last three months of the two co-borrowers. If you hold multiple accounts in different banks, you will need to provide the statements for each bank.
Proof of personal contribution
If you have a personal contribution, you will have to produce a duplicate of the last statements of your investment operations on which the funds are deposited (Livret A, savings plan housing, account title …).
If you have a caregiver, simply send a certificate on the donee’s honor on which he will mention the amount of the assistance provided and attach a copy of the records of operations.
Regarding your professional income, the bank asks for pay slips for the last three months as well as the latest tax notice. If your pay slip does not specify your date of entry into the company, you will not be able to prove your seniority and you will have to provide a copy of your employment contract.
Evidence to obtain the zero interest loan
If you invest in the new and you justify a standard BBC (Low Consumption Building), you can benefit from the loan at zero rate. For this you will need:
- Prove that you are a first-time buyer matching the definition given by the government (non-owner in the last 24 months). You can provide a certificate from your owner indicating the date of entry.
- Do not exceed a certain income ceiling set by decree.
List of parts of your loan file
- Proof of address
- Three last payslips
- Last three bank statements
- Copy of the CNI valid
- Last imposition opinion
- Copy of the preliminary contract (compromise, reservation or construction contract)
- Proof of the contribution
- Owner’s certificate
The contribution of the broker
If you use a real estate broker, you will get help with building your credit report. Indeed, most of them are responsible for collecting all the parts and directly bring your request to the financing organization.