OUR ADVICE

 

Mortgage, what will my
monthly payments be?  

Specialists in property development for over 60 years, our MGM experts can help you with all your project financing needs, and advise you on the most suitable types of loan.

Les Contamines-Montjoie - Votre Appartement - Pièce à vivre

How do I calculate my monthly mortgage payments?

Work out monthly payments without the calculator tool


You can also work out your monthly payments manually, as long as you are good with figures.

 

Calculation for fixed rate mortgages

 

With a fixed rate mortgage, the monthly payment is the same until the end of the mortgage. By calculating your budget and proving its reliability, you can show the lender that you will be able to pay back the mortgage.

How does a mortgage work?

MGM’s experts are here to help you understand more about how mortgages work, so you can borrow under the best possible conditions.

 

 

Mortgage regulations

 

When you take out a mortgage, you are protected by the law under the French Consumer Code. Article L. 312 and following entitle you to a 10-day withdrawal period. The Neiertz Law, meanwhile, protects and supports you against over-indebtedness:

  • Revision of the term of current loans.
  • Consolidation of loans to reduce the number of payments.
  • Sale of assets and quality of life analysis when applying to the over-indebtedness commission.

 

Working out your borrowing capacity


Working out your borrowing capacity is a key step towards successful borrowing. Many factors go into calculating this capacity: income, fees, rent, type of property, deposit, term of the mortgage, interest rate excluding insurance, etc.

To obtain an accurate estimate, we recommended using an online calculator, and carrying out an assessment with your bank. This will take account of two parameters: debt load and the minimum level of income guaranteed to you when repaying your loan. Knowing your borrowing capacity will also tell you how much you should invest in your project in total.

 

 

Mortgage: how long should the term be?

 

Your mortgage can be spread over years or even decades. However, you should know that the longer the term of the loan, the higher the interest rate will be. To plan a property project that is right for you, we recommend that you accurately assess what monthly mortgage payments you can afford, and do not make the term of the mortgage unnecessarily long.

 

An expert in construction and mountain property development, at MGM group we can assist you with every step of the financing process. You can also call on our experts to help you work out how much to borrow, understand the signing of the preliminary contract and invest in rental property successfully with total peace of mind. MGM’s new-build developments offer luxury residences at the heart of the Alps’ most beautiful resorts, or on the shores of Lake Annecy (department 74) or Lake Bourget at Aix-les-Bains (department 73).

 

Discover the advantages of our upmarket establishments and our range of tailored assistance services online.

Tell us about your property plan:

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