The mortgage was initially set up to “liquidate a real estate asset”. Clearly, by allowing the mortgage bank or the credit institution to take a guarantee ( mortgage or bank guarantee ) on real estate, you can theoretically have funds freely available. We will see on our website that the reality is nevertheless much more nuanced.
Our section best mortgage loan companies Our solutions gives all the information needed to understand the main types of credits:
the classic mortgage loan : it allows, as we wrote above, to finance an object other than the real estate on which the mortgage will be taken,
the cash loan : No proof is expected in principle for the use of funds subject to the loan. However, banks and credit organizations must fight against the fraudulent use of funds and moreover do not finance in this context of professional needs,
- the loan without insurance : Often for reasons of age soucrcripteurs making prohibitive insurance, some loans are exempt,
- the loan nonresident : Credit offered to US living outside France for tax purposes. Expats are also concerned,
- the foreign credit : This type of loan offers to finance real estate abroad.
- the restated credit : This type of loan is dedicated to seniors.
FHMLM also offers mortgage loans in fine whose repayment can be provided by the sale of real estate. This allows you to have a cash advance before the actual sale of the property. For example, you want to do work in a second home that will become in a few years your main residence, after the sale of your current principal residence, and / or repay credits … FHMLM also offers mortgages in fine not subject to the sale of real estate.
Other organizations offer mortgages over two periods. During the first, for example 10 years, the loan is in fine (you only pay interest). You feed a life insurance type contract with an initial amount and possibly monthly payments. At the end of the first period, you repay all or part of the loan using the investment. The amount borrowed falls so much. The second period, for example 15 years, is depreciable. Everything happens as if you had a conventional mortgage credit with payment of principal and interest.
According to your need
In the Mortgage Credit Simulation section you will find the main practical cases. Each of the pages in this section deals with a subject, giving the principle and one or more examples: cash, inheritance, donation, redemption of balance, purchase of credits, retirement, real estate, financial investments…
Beyond the examples the most common mentioned above, you can finance any object with a mortgage loan: a sports car, a boat, a piece of art … For example, FHMLM has funded young retirees who had the wish to achieve a donation to their daughter, repay two consumer loans, and especially finance the trip around the world they had always dreamed of.
- Banks and credit institutions agree to make cash loans without justification in a few limited cases:
- the amount of the unjustified cash is less (hardly more than 50.000 €),
- the loan is made as a cash advance before the sale of real estate,
- the profile of the borrower is “upscale”,
- the need for cash for business purposes is not proven.
- Mortgage Loan, Cash, and Borrowing Capacity
There are two basic points to understand:
the mortgage does not generally allow funds to be freely available, without justifying to the bank how these funds will be used,
the amount of your wealth is generally not sufficient to determine your borrowing capacity.
On the first point, the 2006 decree authorizing the liquidation of real estate assets to finance any object infringes on banking law. Banks and credit organizations have an obligation to fight the fraudulent use of funds. They must therefore verify that you use the funds wisely. However, for some “big” profiles, banks specializing in mortgage lending can lend several hundred thousand euros without justification. This is known as mortgage loan cash.
On the second, we must understand the purpose of the mortgage: finance any object by taking a guarantee (mortgage or bond) on a property that belongs to you. Nothing more. This type of credit does not exempt you from proving to the bank that you will be able to repay monthly the monthly payments inherent to the credit (except in certain cases – mortgage loan, loan in fine specific …).
In summary, the mortgage is not a “magic” solution that meets all your cash needs. Contact our mortgage brokers. We will find together the best solutions to meet your needs.
Other sections of our site
Glossary and FAQ
The Mortgage Glossary and FAQ sections give specific information about the mortgages themselves (for example, details of what a mortgage is, mortgage in fine, mortgage rank, debt ratio …). ).
This will allow you to be more familiar with terms often used but sometimes misunderstood.
Do not hesitate to inform us of information that is missing in these sections. We will do our best to add it as soon as possible.
- Our Mortgage Brokers and Methods
- Our Mortgage Advisors section
- Offers a presentation of our mortgage brokers and explains their role
- Gives the commitments of FHMLM
- Summarizes the “+” of the mortgage broker
- Give information about our legitimacy and our ethics
The experience of our brokers will help you to see more clearly about the opportunities available to you, sometimes well beyond funding. Some clever financial packages can be proposed to you. Just fill out the contact form to be called back at the hours you have notified. Do not hesitate, the advice is free!
Information about FHMLM
For information on the FHMLM in one of the best mortgage loan companies, you can consult the FHMLM GROUP headings: Our activities. You will find our history, our structures and our methods, our development strategy, and you will see that our human resources and the sense of the customer are at the heart of our thoughts .
The main financial elements will support you in the fact that FHMLM is a healthy and solid structure.
A section Recruitment gives the different possibilities of working with FHMLM.