Do you want to do a mortgage repurchase simulation and get a better mortgage rate ?
Comparing mortgage rates lets you know if you can save money by buying back a loan.
Do a simulation and compare how much you could earn with a new bank loan or by changing banks.
Credit redemption simulator
The results obtained using our calculators have an informative and non-contractual value.
How to use the credit redemption simulator?
Whether you are an owner, tenant, private individual, professional, civil servant, executive or non-executive employee, you can simulate mortgage repurchase. Fill in the fields of the form starting with the details of your current mortgage.
Then, complete the information on your new credit: loan rate and duration. The mortgage repurchase simulation will tell you whether or not it is worthwhile to carry out this operation and the potential savings achievable.
The credit buyback calculator does not take into account mortgage insurance, which can significantly reduce the cost of Taeg.
You can also try our cash balance redemption simulation .
Why buy back your mortgage?
Carrying out a mortgage repurchase consists in having your mortgage bought back by a competing credit institution which will apply the current borrowing conditions. Labougeotte is responsible for finding the banking organization that offers the most advantageous real estate rate according to your needs.
The lower the mortgage rates, the more interesting it is to have your loan redeemed. There is a significant difference in applied rates and an opportunity not to be missed thanks to this rate cut. Renegotiating your home loan with financial institutions at a more advantageous fixed rate can reduce either the amount of your monthly payment or the duration of your credit.
Don't forget to take into account warranty and prepayment charges. Redeeming your credit as a civil servant can also be interesting.
How to perform an online mortgage repurchase simulation?
This mortgage repurchase request is calculated using the amount of possible savings to be made on the total cost of your mortgage. Using our credit redemption simulation calculator, check if this operation with current rates is profitable.
If the outstanding capital is greater than 50,000 us dollars and the remaining term of your credit is greater than 7 years , then you have every interest in going through a loan repurchase broker who will redirect you to another banking institution for your loan redemption.
Have you determined that switching banks could be beneficial for you? Use our credit comparator to be contacted by an expert who will support you in your loan renegotiation:
This operation is to be differentiated from a consolidation of consumer loans which consists of merging all your consumer loans into one and the same monthly payment.
Example of credit redemption calculation
To go further, let's take an example of an interesting case for a credit redemption:
- You have contracted a loan in the amount of $ 250,000 over 20 years at a rate of 1.8%
- 3 years later, you want to buy back a loan because the rates are lower
- You therefore still have an outstanding capital of $ 217,071, including penalties and guarantees, the amount to be redeemed is $ 221,641
- On a new 17 year loan offer at a rate of 1.1%, the estimated amount you can earn is $ 9,173
The loan renegotiation can therefore be very interesting if there have been significant variations in mortgage rates since the moment you took out your loan. The repurchase of credit can allow you to reduce the cost of your monthly payments or the duration of your loan.