How can a Loan Broker help you?

Your logbook😊

1. You decided to buy a house and you begin to study the market of mortgages loans: you assess and compare banks on proficient webpages, by you get an initial answer about loans and their costs.

2. You have chosen 5 banks (with low costs), you make 5 trips to 5 banks, you wait turn to the bank loan officer from the first bank, you receved the first offer and then move to the next bank, next offer and so on, until you get 5 offers, from all 5 banks.

3. You arrive home with the offers, analyze them, compare them, you choose the bank with low costs.

4. You submit the file to the chosen bank, it checks income and expenses for you and for your partner (usually on ANAF), and the bank gives you an answer: financially approved or not.

5. If you don't will receive the financial approval, you need to start the same process of financial approval with another bank ...and so on until you manage to get it; each bank calculates the eligibil income in a different way, depending of the income composition (salary, bonuses, overtime, rent, dividends, salary increases in the last 6 months, etc.), work seniority at the current employer or total work seniority.

6. The next step, after the financial approval is the legal approval of the bank on the property documents, which will bring you the first costs (differs, depending on the bank): The promise of sale - which will be signed before the sale contract (between 500 -900 ron), the fee for the evaluation of the house (between 470 -790 ron).

7. Regarding the property documents of the apartment / house found by you, the bank approves them or not (some banks accept, others do not: a certain “specificity” mentioned in the propert documents). Here it is important to be sure that the bank to which you submitted the loan file will agree to accept the house and approve your loan, so as not to lose money for the evaluation of the house (470-790 RON) and in that case you will be constrained to go to another bank...until you find the bank that accepts that "specificity". 

8. Usually the bank’s legal representative check the property documents and find that they are ok, this means you will receive the final approval of your loan.

9. The bank schedules the signing of your Credit Agreement, Sale and Mortgage Agreement

10. Congratulations, you are owner!

Our logbook😊

1. I am waiting for you for a coffee at my office, you give me data about the type of loan (mortgage, personal loan, etc.), your personal data (income, seniority, etc.), you help me with what is a priority for you (time for analysis, interest, type of income accepted, etc.).

2. Based on the information received, I send you on email 4-5 offers detalied with all of they the cost, from 4-5 banks (chosen according to your priorities, your income, your work seniority, etc.); we discuss all aspects of credit (credit costs, credit stages, ... I answer all your questions, until you sign your contract with the bank).

3. I negotiate with the bank for you, if is necessary for income, seniority, costs.

4. I submit the file for the financial approval to 1-2 banks (for your confort).

5. I get your financial approval, with the amount of money you requested; financial approval is valid for 90 to 120 days (the loan costs remain unchanged during this period).

6. For the next step, legal approval, you will receive from me the list of property documents, a list that I will draw up according to the requirements of the bank; I am waiting for them by email, enter them in the bank's application and request the legal opinion.

7. I let you know when your mortgage loan is approved

8. I prepare together with the bank, the notary and the insurer the signing of your Credit, Sale and Mortgage Agreement, so that on the day of signing everything goes well.

9. After you sign, I'll keep you up to date with what's new in the credit market (changing the IRCC index, promotional campaigns with better costs, calculations for prepayments, etc.).

10. And most importantly for you, my services are free for you. I am an authorized broker, who does NOT charge any commission from the client.

11. Congratulations, you are owner!

12. I'm a message away from you, let me know if I can help you.