The Army offers different types of contracts to the military, including fixed-term contracts and long-term contracts such as the non-commissioned member. Professional soldiers and those under contract can, therefore, claim to obtain a mortgage in order to buy a main residence or possibly a secondary residence, or even a rental investment.
The mortgage can be offered by the military bank or by a real estate broker, see an establishment specialized in the financing of civil servants and military of the State. This loan is accessible with a minimum of 75,000 dollars for the real estate project and can be repaid over a maximum duration of 30 years, or even 35 years according to certain banking establishments.
The military real estate loan file
Whether you are a mobile gendarme, a barracks gendarme or a military gendarme in intervention, it is not easy to find time to assemble a mortgage loan but you should know that this operation can be done remotely, without the need to meet with the bank agent who will be responsible for examining the file. First of all, it is a question of carrying out a simulation of a mortgage on the internet, which allows us to have the first opinion of feasibility and to be able to project quickly.
The examination of the file will require a telephone point on the situation, the project, and possible additional information to be provided to the bank advisor. Then just send the requested supporting documents (account statements, salaries, tax assessment, etc.) and the advisor is responsible for completing the file which will then be final, that is to say after a positive response financing (sometimes with pre-acceptance) of the military home loan.
IGESA military mortgage
The institution of social management of the armies (IGESA) offers financial products only dedicated to workers in the army, so you must above all be part of the military or civilian personnel of the armies and be active. IGESA offers two loans, a homeownership loan with a preferential rate, intended to finance part of the property acquisition (capped amount). The other loan is an additional homeownership loan which complements the homeownership loan and which is inseparable, the amount is also capped. Good to know: it is possible to combine these assisted loans with the zero rate loan which also makes it possible to finance part of the property, without interest this time.
Home loan guarantee
There are two ways to secure a loan: the mortgage and the surety. The mortgage consists of placing the lender as a priority in the event of nonpayment of the sums, which leaves him the possibility of recovering the property if necessary, that is to say without the possibility of repaying the sums and after the failed negotiation with the mediator . The deposit is based on the same principle with the exception that it is a company which stands surety and which will turn in the event of non-payment to the military borrower to recover the sums due, with priority recourse to mediation and lastly, the obligation to sell the property.
Simulation of a real estate loan for the military
The home loan simulation is free and without obligation for civilian or military personnel of the French Army. The form thus offers to obtain several financing offers, without having to travel and at any time of the day. You just need to fill in the information and confirm the entry to get the first financing proposals at the best rate.