Getting a home loan when you are a manager of a company imposes more constraints than for an employee, everything depends on the type of remuneration chosen by the manager.
The principle of housing loans for business managers
Banks grant mortgages to all profiles of candidates, whether employees or managers of companies. Income stability, debt capacity and above all the sustainability of the business are the three essential elements for claiming a home loan. For an employee, the permanent contract or the status of permanent employee are solid guarantees and ensure in the vision of banks a profession for life, which can cover the repayment of the loan throughout its duration. Most employees also have a fixed base, ensuring regular income.
For the company manager, there is a more complex approach that is carried out because the sustainability of the job will be based on the financial health of the company, the bank will therefore ask to study the balance sheets, which will allow him to watch the evolution of the activity of the company and situate it in its development (growth, decline …). On the income side, the status of the manager and the company will play a big role because it can be a classic manager or a salaried manager. It should be noted that the liberal professions are better considered statutes, because the incomes are often greater.
How to get a mortgage loan as a business manager?
Because banks’ criteria play a big role, as does the status of the company and its manager, it is strongly advised to turn to a home loan professional to obtain loan estimates and a feasibility notice. as part of a real estate project. This can be done through direct contact with a conventional deposit bank, or through the use of a real estate broker. The advantage of the broker is to be able to survey the market and compare the rates offered, but also to take advantage of the advice provided.
Regarding obtaining the mortgage, a business manager must provide supporting documents such as the last three bank statements, proof of income and at least the last two balance sheets. The study is then done on a case-by-case basis, with a human approach to the file, that is to say that it is possible to justify certain important points of the file, or the peculiarities specific to the activity of the manager. . This study will then validate the file and be informed of funding opportunities.
Simulate an online home loan for a business manager
In order to save time in the home loan process, it is possible to simulate a mortgage online, using a mortgage loan comparison form. This makes it possible to quickly know if the project is feasible at first, but also to compare the rates offered by different credit institutions. This approach is offered free of charge and without any commitment.