A self-employed entrepreneur can access, like a salaried borrower, mortgage loan offers in order to become a homeowner, here’s how.
The auto company has already attracted more than 1 million French people wishing to create their own activity and embark on the path of entrepreneurship. A highly appreciated status for its simplified administrative procedures and the absence of certain third-party services such as the accountant for example. If this status makes it easier to develop its activity, it is however closely studied by banks and credit institutions, especially when it comes to a mortgage.
As part of a mortgage application made by a self-employed entrepreneur, the banking establishment will look at past annual activity, or even the last two years of exercise, the idea is to take into account seasonality and verify income stability. If the self-entrepreneur does not have at least two full years of exercise, it will be difficult to find an offer of financing, unless a co-borrower has a permanent contract.
Multiply the mortgage loan process by being an auto-entrepreneur
A status of self-entrepreneur is never easy when applying for a mortgage because some banks will be less confident than others and will not seek to offer to finance, they will often be based on very strict criteria to filter these requests as much as possible. On the contrary, there are specialized establishments and offering offers for these borrowers wishing to access the property or invest in stone.
It is therefore advisable to use a home loan comparator in order to canvass several credit institutions at the same time, this allows you to probe the offers of the market but also to put the banks in competition to obtain the best rate. By being an auto-entrepreneur, one can also negotiate the best rates on the market.
Self-employed and co-borrower
If the self-enterprise does not justify sufficient activity, that is to say at least two years of exercise, it is possible to bet on the co-borrower, provided that the latter justifies a contract open-ended work (or permanent civil servant contract ) and stable income. The presence of a co-borrower can reassure the banks and can help validate the home loan dossier, taking into account the income of the two borrowers as well as their situation.
Note that for a mortgage application, it is necessary to provide supporting documents during the examination of the file (not necessary during the online simulation), these are the last three account statements, wages, URSSAF declaration statements, identity cards, tax assessment and proof of address.
Are there mortgage brokers for micro-businesses?
Brokers have good knowledge of the mortgage market and know which banks can finance more than others the profiles of auto entrepreneurs. In 80% of cases, a refusal of a home loan for a self-employed entrepreneur is justified by the lack of activity, within particular an insufficient duration of an activity. The mortgage loan simulator allows you to probe both brokers and banks, in order to select the organizations offering this type of financial product, so it is a significant time-saver to find a financial organization capable of responding to a need a micro business.