What Might a Versatile French Property Mortgage Calculator Be?

Introducing French Property Tools For A Web 2.0 Generation

The word mortgage is a very interesting one. Some use other terms such as secured loan or simply property loan. But to avoid any confusion with other kind of loans that exist the term mortgage is unique. So what's the etymology of the word "mortgage"?
 

The word mortgage comes from the Middle English word morgage, which itself comes from the two Old French words: mort, (dead)  combined with the term gage (pledge). So a mortgage is "a temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt".

Okay, let's put it in a different way, a mortgage is like a consumer loan but with a twist. You borrow money especially for the purpose of buying a property or real estate. You can also borrow to finance a purchase. But the common conditions are that if you fail to repay (there's the pledge), then the creditor is entitled to repossess your property.

So what might a French Property Mortgage Calculator be? Yes, you're absolutely right; an online tool that allows you to calculate any aspect of  mortgage on a French Property.

Aspects of a mortgage:

• The main output is the monthly payments. That's what most people like to estimate. These payments will depend in part, on the following:

• The amount to borrow

• The repayment period

• The interest rate

• The type of mortgage [e.g. fixed, variable, interest only, capital and interest].

• Other lending institution include other parameters such as the loan to value.

So, if you provide all the information required, a French Property Mortgage Calculator should allow you to calculate the monthly payment. Actually, any mortgage calculator should be able to do that.

The main thing to consider though is that few financial institutions, other than those which are French, will be keen to lend you money to buy French property. However things are changing so we'll keep you posted here.

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