Real estate loan for a VEFA (sale in the future state of completion): the method!

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Many French are turning to the sale in the future state of completion, an interesting real estate project but which requires to subscribe the good mortgage.

Principle of the VEFA for a mortgage

Principle of the VEFA for a mortgage

Buying off-plan means buying a house or apartment off plan, that is to say that the financing will allow you to buy a property that does not exist yet, so you have to be able to project yourself on the rendering of the apartment or house. It is important to be well informed about the conditions of construction of the property, including the levels of finishes, it is important in a real estate program off-plan that everything is taken care of and that no expense is necessary during the delivery. of keys.

Most people interested in a VEFA will move either on a rental investment, namely to buy a property and then offer it for rent, or on a home as a principal residence. The idea is to take advantage of the construction of several houses or a building to achieve a beautiful financial operation.

Get a mortgage for a VEFA

Get a mortgage for a VEFA

Subscription to a property loan off-plan is special, simply because the property does not yet exist and the funds will have to be released as and when construction. The first step is to sign a reservation contract with the real estate developer who offers the property, this contract allows to define the characteristics of the housing, its price and the maximum delivery date. A first payment is required (5% of the price of the property) when signing the booking contract.

To obtain a loan, simply file a mortgage application specifying the amount of the property as for the purchase of a classic house, simply specify the nature of the purchase, namely a sale in the future state of completion. Regarding the repayment of the loan, it can be done at the time of delivery of keys, that is to say that the borrower begins to pay his monthly payments as soon as the property is delivered, or it can be done partially from the start of construction, this is called interim interest.

How to negotiate the best rate for a VEFA?

How to negotiate the best rate for a VEFA?

VEFA real estate purchase programs are common in real estate projects and banks are used to dealing with these issues, with all the advantages and constraints they represent. Thus, it is possible to apply for a mortgage by taking into account the amount of property, it allows to obtain first proposals, even if the price of the property is not yet final. It is also advisable to start upstream financing to get rate and guarantee proposals.

Finally, the use of online comparators makes it possible to quickly go around the banks and brokers present on the market, which allows to play the competition and finance its purchase in the best possible conditions. Note that the contribution can be a real asset in a VEFA, but this is not an obligation.