From what borrowed amount is it interesting to go through a broker?

 The real estate broker is an intermediary responsible for negotiating the best financing terms for his client. He accompanies and advises him in his loan application.

From the calculation of borrowing capacity to the release of funds, the broker intervenes at all stages of the mortgage. In which cases is it wise to go through it? What are the advantages for the borrower? All the explanations.

Applying to a broker: the benefits

Applying to a broker: the benefits

The broker’s mission is to find you the lowest rate, the most advantageous conditions and the best guarantees. For this, he relies on his wide network of partners and his knowledge in the banking field. Due to the large volume of loans it brings, this professional can negotiate directly with real estate centers and lending institutions.

In addition to obtaining a preferential rate, the broker is able to give you personalized advice and accompany you throughout the subscription. This can be particularly interesting if you have an atypical profile (CDD, no contribution, etc.).

Appealing to a real estate broker finally saves time. Indeed, this intermediary is in charge of carrying out all the steps related to credit for you.

The use of a broker is not always useful

The use of a broker is not always useful

However, some borrowers will not find a more advantageous credit offer through a broker. This is particularly the case for those with low incomes (for example, a couple earning between 3,000 and 3,500 USD per month). In this situation, the broker can contact specialized organizations but is not sure to obtain a significant decrease in the interest rate. The risk for the plaintiffs is then to commit to a loan that is too high with a longer repayment period.

Thus, there is no precise sum from which it is interesting to use the services of a broker . It depends more on your profile and your financial situation. In any case, this professional can help you determine what are your chances of obtaining a mortgage and at what rate.

How much does a loan broker cost?

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Some real estate brokers are directly remunerated by banks and therefore do not claim any brokerage fees from clients. Others charge a processing fee when subscribing for the home loan, the amount of which generally corresponds to 1% of the capital borrowed, plus brokerage fees. In any case, all the fees paid by the borrower appear on the standardized information sheet (FSI), which must be given by the bank with the credit offer.

It is not uncommon for brokers to fail to inform their clients that they will have to pay fees to their bank. All this information must be clearly mentioned in the proposal or the mandate signed with this intermediary.

Loans Without Payroll: Are They Possible?

Loans without paycheck: conditions and options available

Loans without paycheck: conditions and options available

Loans without paychecks are, in theory, available to everyone, moreover, sometimes the company sends confidential invitations, sent in paper form, to selected ad hoc subjects to whom specific offers are offered with special conditions.

In general, however, these loans without paychecks necessarily require the presence of a guarantor, while it is not possible to obtain them by guaranteeing real estate.

So, to answer the question of whether you can get loans from despite not having a paycheck, the answer is yes, as long as you have a guarantor with good financial strength behind you, because unguaranteed loans are unfortunately a utopia.

Here are therefore the three formulas of personal loans that can be used, corresponding to as many offers:

  1. the Easy loan;
  2. the Jump loan;
  3. the Total Flex loan.

The Easy loan

The Easy personal loan is an example of the loans without paycheck which guarantees, to those who benefit from it, the maximum possibility of personalization : on the other hand, this formula can be combined with the Jump option, in case you need to postpone the payment of an installment, or with the Change option, if you wish to change or reduce the amount. The Easy loan is divided into four possible variations:

  • Easy Classic;
  • Easy Change;
  • Easy Jump;
  • Easy Flex.

Easy Classic is nothing more than the basic version of the loan without paycheck and does not allow you to take advantage of modification or flexibility options, providing the guarantee of an installment that cannot change and that, for the entire repayment period, it always remains the same.

Easy Change, on the other hand, allows you to add the Installment Change option, by virtue of which the installment can be reduced at no additional cost whenever you wish, for a maximum of five times: in this way, obviously, the duration of the refund is lengthened.

Easy Jump offers the Skip Installment option : in this case, you can skip the payment of an installment, always at no additional cost and whenever you wish for a maximum of five times, so that the payment itself is postponed to the end of the term.

Finally, here is Easy Flex, which offers the opportunity to combine the option Change Rate and the option Skip Rate: it combines the opportunities of Easy Change and Easy Jump, ensuring maximum flexibility.

The jump loan

The personal Jump loan allows you to simply skip an installment without having to deal with additional costs : highly appreciated among users of loans without paycheck, it allows you to avoid paying an installment once a year, in order not to more than five times during the entire funding period, totally free of charge. Here, therefore, that it becomes possible to postpone the payment to the end of the term: all you have to do is make the decision to skip the installment (jump).

The Total Flex loan

The other opportunity offered for loans without paychecks is that represented by the Total Flex loan, which consists of a totally flexible loan that can be exploited and function as the customer wishes.

This is the most suitable solution for those who need a certain versatility, having to do with objectives and projects that could presuppose changes of course: in fact, there are numerous solutions of duration and installment between which you can decide and anyone has the right to identify the reimbursement plan more in line with their preferences. A plan that can also be changed over time, always in a totally free form.

Total Flex is a very interesting solution because it allows you to skip an installment per year, postponing the payment to the end of the repayment term, or to decrease the amount of the installments, so that the plan is extended.

How to apply for the loan without paycheck

How to apply for the loan without paycheck

In order to apply for loans without paycheck, it is necessary to present, in addition to a valid identity document such as an identity card, also the tax code or the so-called service card (the regional health card) and the last tax return (as mentioned if you do not have a paycheck, you must be supported by a guarantor with good financial strength who can therefore honor the debt in the event that the applicant is unable to pay the installments).

Loans can be requested for an amount not exceeding 30 thousand USD by all residents in Italy who are 18 years of age and not older than 70 years. For foreign citizens, in addition to a valid residence permit, residence in Italy for at least one year is required.

As regards the method of disbursement and the relative timing, the agreed amount is paid very quickly, even within the day, with a check or a bank transfer.

The reimbursement, on the other hand, can be made with a bulletin to be delivered in a Sisal bookshop, in an authorized QuiPay point, in a Lottomatica point of sale or in a post office, or alternatively with automatic debit on the postal account or on the bank account.

Optional insurance coverages

Optional insurance coverages

Those who wish can also choose some insurance coverages, which are all optional, which allow to avoid the negative consequences deriving from any unexpected events. For example, you can opt for Creditor Protection insurance, which is offered in the Standard Package version and in the Plus Package version.

This policy of protection is the insured party in the event of any unforeseen events that may occur during the loan. The Standard Package, in particular, includes the Serious Illness guarantee, the Total Permanent Disability guarantee (following an illness or an accident) and the Death guarantee (regardless of the cause that caused it).

The Plus Package adds, to all those valid for the Standard Package, also the Hospitalization guarantee.

Conclusions

The loans without paycheck, in conclusion, have the advantage of being very versatile and of lending themselves to meet the most diverse needs in a variety of contexts. The catalog of offers is extensive, so that everyone can identify the formula that best suits their needs.

Quick payday loan simulator

You have decided to subscribe to a payday loan and you must find, very quickly, a bank or a credit institution whose interest rate is right for you. In order not to waste your time in the search for credit agency, you can use our payday loan simulator. The latter can allow you to gain a considerable time because it can offer you, in just 2 minutes, a dozen already negotiated offers. In addition, the fast payday loan simulator is used online. All you need is an internet connection and a computer to access this useful and practical tool.
Credit institutions in the payday loan simulator are well known and can attract many potential customers. Here is a guide that will let you know what a quick payday loan is.

What is a quick payday loan?

What is a quick payday loan?

A payday loan is a consumer loan granted by banks and specialized organizations. It allows to finance all types of projects. If you are married and you are expecting a child, you can apply for payday loan to finance the purchase of your new apartment or for other work. When you subscribe to a payday loan, you can spread the repayment term over 6 to 84 months depending on your repayment capacity and your monthly income.

To be able to obtain a payday loan, you must have a good situation both personal and professional. All the conditions for obtaining a payday loan are mentioned in the credit agreement that you must sign before the payment of the funds. The interest rates, the monthly repayment amount and the cost of the credit are fixed.
A quick payday loan can be requested online and you can get the funds on a very short time.

Why subscribe to a quick payday loan?

Why subscribe to a quick payday loan?

Fast payday loan can save you a lot of time because the waiting period of your agreement is short and you can get the funds in just a few hours after your request.
In addition, the payday loan allows you to have a fund that can be used as you see fit without proof of necessary expenditure.
The conditions for quick payday loan are fixed and do not change over time.

Personal Loans Without Guarantees

Are unsecured personal loans possible to obtain? If we were to respond without dwelling on the multiple forms of guarantees possible to obtain a personal loan then the answer is certainly not. But fortunately things are not always Yes or No or White or Black, there are perhaps yes if… or the various shades of color.

Premise: this article is dedicated to those people who have little experience in the field of personal loans without guarantees. For some, different concepts may seem obvious, but since not everyone knows them or is fully aware of them, they are still reported, in this way, we try to provide all that information that can give a complete overview as possible, to understand some concepts, first of all: banks and financial companies sell money, this is their job and you can be sure that they will do everything possible to give them to you, provided that they can be sufficiently sure to get them back with lots of interests.

Going back to personal funding, it’s basically the same thing. Everyone knows that the main guarantee of all the guarantees for this type of loan is the paycheck, but not everyone knows that there are many forms of guarantees that a bank or financial company takes into consideration when deciding whether to grant or not to grant a loan.

From the point of view of those who find themselves examining a request for financing, what is really important is to be able to understand if there is a real possibility, to get back the amount of money eventually granted plus practical management costs and interests. If such a possibility exists, the loan may be granted even if there are no personal guarantees. Let’s clarify.

Unsecured personal loans: possible scenarios

Unsecured personal loans: possible scenarios

Have you read the introduction and decided to continue reading the article? Very well! A sign that something I have to tell you could help you find a way to get your loan even if you apparently think you don’t have enough guarantees to achieve your goal.

Which category do you belong to? Do you not have a permanent job, or are you a self-employed and therefore without a paycheck, or are you not one or the other but simply looking for a job? Maybe you are a housewife, or you are a student or even a possible new entrepreneur who needs a loan to start his first business. If you find yourself in one of these categories just described, don’t despair, there is a solution.

Alternatives to unsecured personal loans

Alternatives to unsecured personal loans

Let’s start from the most problematic case, that is the one in which you need a loan but you have no personal guarantee to put on the balance, that is, there is no employee income, nor a rental income or other annuities, nor a property owned, nor precious stones to be sold as a pledge.

Despite everything, you must not throw in the towel, even if you fall into one of the categories mentioned above, there are still 2 possibilities to obtain a loan and they are: the intervention of a guarantor, a co-obligated cun or the so-called loan of honor.

Loans without personal guarantees but with Guarantor or Coobligato

The first of the two possibilities (the loan that involves co-obligation) is the one that opens if a guarantor with a sufficiently solid financial position intervenes to guarantee the loan to be able to pay the installments if the loan holder does not be able to return the due.

The ideal guarantor is someone who has a good credit reputation, who has never had reports to CRIF and who is not reported as a bad payer. Of course he must have an income from self-employment, or from employment, or receive a pension, but in this case he must not have exceeded 70/75 years of age. If these requirements are met, it is possible to obtain a personal loan without own guarantees.

Attention, it is not excluded that the bank asks the guarantor to sign bills, but generally this happens only if the sums requested are high. A house worth 200,000 thousand euros cannot be foreclosed for a loan of 5,000 euros.

Loans without guarantees: the Loan of Honor

The second possibility has some more constraints, we speak in this case of ” Honor Loan “. This type of loan is granted to all those who meet certain requirements and it may be that it is also right for you. So going to the point, if you need the loan because you are a student and you need the money to pay for your studies, you can ask for a loan of about 5,000 / 6,000 euros.

Still speaking of honor loan, if the same is used to open a business, a franchise, or another any other business, the amount that you can request is far greater than that expected for the students, in fact the same can reach over € 100,000. If this is your case, I advise you to talk about it with a good accountant, who will surely be able to explain the details, and eventually help you to submit a loan request with a lot of business plans.

Loans without paycheck guarantee but with demonstrable income

Don’t you have a paycheck or a guarantor? It’s okay anyway, because you have at least a small demonstrable income. In this case yours is not as desperate a situation as you might think.

You may not know, but, given that permanent employment is now a rarity, banks and financial companies have organized themselves to screen and possibly grant a loan without paycheck and without guarantor. The result is that often, as a guarantee, these also accept income from annuities such as those from rental of properties or other types of annuities provided they are documentable.

What are the documents required to document an income of this type? Simple, you can use the bank statements through which you collect this money. In addition to bank statements, the tax return of past years is sometimes required, so here we can reasonably speak of demonstrable income.

Of course, also in this case, the installments of the loan to be obtained must be sustainable. Let’s take an example: if you have a monthly net income of 800 euros, a sustainable installment (if there is no other income) will be more or less than 200 euros per month.

However, these data are indicative as each bank has its own parameters on which it calculates the sustainable installment. Finally, even if taken for granted, I suggest you not to take this path if the account balance is often in red.

Loans with bills

This option is undoubtedly the most difficult to implement. As I know you know, loans changed in 2018 are a rarity.

We are no longer in the era of the economic boom of the 60s, the “Italian miracle” is old and long-overdue history (unfortunately). I speak to you of that era because in those days, the changed loans were not the exception but the rule. If you ask an elderly person, he will surely confirm this to you.

Today loans with bills of exchange are the exception, as bills of exchange are used almost exclusively for commercial transactions and only in special cases that I am not able to explain to you because what is long and not inherent in the subject matter.

Coming to us, even if difficult to implement, exchanged loans are still possible. To apply for a loan of this type, you must necessarily have an asset that is “collectible” and that it has a sufficiently high value to amply repay the loan possibly granted.

The bill of exchange is an enforceable title, that is to say that if you do not pay the installments, the bank or the finance company will not return the bills to the signatory of the loan and will send them in protest. If what has just been said happens, in a short time it will come into possession of the attachable assets, but not only, if once they are auctioned they will not be sufficient to close the entire amount financed (because they are sold off), however, it will remain a debt position open with all the consequences of the case.

Loans from private individuals

Yes, there is also this possibility, among loans without guarantees and without a paycheck there are also loans with bills of exchange between individuals or even more generally loans between individuals.

Not everyone knows it but in the Italian legal system, this practice is contemplated provided it is occasional, that is to say (for the wily ones) that the private lender can do it but it certainly cannot become an unauthorized financial company.

Returning to us, if you know a private individual willing to lend you money but who at the same time wants to regularize this type of financing, know that it is possible. Among other things, the private individual who lends money can do so both free of charge and for profit, thus collecting interest, which, in no case, may in any case exceed the usury threshold. So when interest payments are foreseen, the loan is called ” loan for consideration “, if instead the interest is not provided for in private writing (which must always be done), the loan or mortgage, if you wish, is called ” mortgage free “.

Conclusions

 

Unsecured loans are practically impossible to obtain unless you also have alternatives. This article finds reason to be because it points to the fact that often not everyone knows that there are alternative guarantees that can be put on the balance, this species is referred to as small loans.

Of course, as you surely have guessed, the success of this type of operation is linked to multiple factors and it is not at all easy to complete successfully. To increase your chances of success (if you are not among those who can access the loan of honor) it is necessary that you prepare yourself well before going to ask for the loan in the bank.

Only proceed with the loan application if you can answer these questions: how do you intend to return the money you borrow? Do you have a guarantor who can act as a co-obligation? Does it have any income as long as it can be demonstrated? Do you own property?