Do you have plans on buying property in France?
In this French mortgage calculator, you can calculate your mortgage in France if you were to buy property there.
If you purchase property in France, you will normally have to pay the Notaire’s Fees, unless you’ve negotiated it to be a cost to the seller. With the help of the Official French Notaires Fees Calculator, you can estimate what the Notaire’s fee will be for you.
Using the French Mortgage calculator
Using this French mortgage calculator is very easy.
1. Fill in your purchase price
This is the price that you are going to or expect paying for the home in France.
2. Fill in down payment
This is the amount that you are going to pay in cash upfront for your property on the French Riviera.
If you purchase tax outside of France, the minimum deposit is 15%, something that is worth knowing.
If you’re a French taxpayer, you might not have to make a deposit.
Your Mortgage Payment Information
The Mortgage Calculator estimates monthly payments with taxes, insurance, PMI & more.
Click on the “calculate” for a description of each input & how they are used in calculations. Set an input to zero to remove it from the calculation.
Worth knowing about mortgages in France
Mortgages, also known as home loans, or in French hypothèque, are offered by all major French banks, as well as many foreign banks. The mortgages in France are not only available to residents of France, but they are also available to non-residents, however, the security can be tougher if you’re a non-resident of France. And if they feel you aren’t a good loan taker, they might deny your mortgage request. If you are going to take a French mortgage. It is particularly difficult to obtain a French Mortgage if you don’t have a regular or assets in France. Moreover, if you are a single woman, it can be especially difficult to obtain a mortgage in France.
It’s worth knowing that French mortgages are generally a lot shorter than for instance in the US and the UK, and as a result, the repayments of your mortgage might be a lot higher.
If you want to take a French mortgage from a French bank, the most major banks in France are:
- Crédit Agricole (CA)
- BNP Paribas.
- Société Générale.
- Caisse d’Epargne (CE)
- Banque Populaire (BP)
- Crédit Mutuel.
- La Banque Postale.
But that is not to say that foreign banks are any good.
When using this French mortgage calculator, it is good to know that the interests of French mortgages can be fixed or variable, making it a bit difficult to estimate your exact mortgage. If you select a fixed rate, it will be a bit higher than if you choose a variable one, in order to support the increased risk to the lender – the bank. The benefit, however, with choosing a fixed rate is that it allows you to know exactly how much you are going to have to pay for your French mortgage, thus making it easier to plan your mortgage cost with the help of this French mortgage calculator.
The variable rates can be fixed the first few years, and then after that, they are normally adjusted up and down up to 3% baased on prevailing interest rate
All French mortgages use the capital and interest method of repayment, and in France, endowment and pension-linked mortgages aren’t offered.