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Purchase of credit for military: what specificities?

The military can set up a credit buyback to rebalance their finances. Find out what are the characteristics of this operation.

In France, the status of civil servant can make it possible to obtain an offer to buy back credit on favorable terms. Indeed, thanks to a stable employment situation and regular income, they can expect to benefit from a competitive rate. What are the specificities of the military buyout? Explanations.

Military: why buy back his credits?

Military: why buy back his credits?

The repurchase of credit consists in grouping the loans subscribed in one. This operation makes it possible to settle only one lower monthly payment and thus to better manage its budget. The reduction in monthly payments nevertheless implies an extension of the repayment term and a higher total cost of credit. There is another benefit to bundling credits: the possibility of including funding for a new project. Be careful however, this cash is not systematically granted by the credit agency and requires a preliminary study.

The purchase of credit for military can include different types of loans: car loans, credits credits, revolving credits, mortgages. The nature of the transaction depends on the share of real estate loans in relation to the total amount to be repurchased.

The Criteria for Using Military Credit Redemption

The Criteria for Using Military Credit Redemption

The repurchase of credit, whatever the status of the applicant, is subject to certain conditions imposed by the lender. To obtain this financing, the borrower must prove a professional situation and stable income. Military status therefore tends to reassure banks.

More specifically, according to the various offers on the market, the minimum amount of loans to be repurchased must be 1,500 euros. The repayment term of the new loan must be between 12 and 420 months. The member has the option of including in the credit redemption the financing of an additional project and optional insurance.

Like all applicants, the military must do a preliminary study to verify the feasibility of their project. In particular, they must specify the nature of their employment contract. Indeed, certain contracts such as 5 to 8 years missions can be considered as fixed-term contracts (CDD). This information will allow the lender to offer you a suitable credit buyback offer.

Make a military buyout simulation

Make a military buyout simulation

Whether you are a tenant, owner of your real estate or housing function, you have every interest in a simulation of buyback credit for military. This free, non-binding tool allows you to get a quick first estimate without having to fill out an extended form. It will give you two essential information: the total cost of the transaction and the annual percentage rate of charge (APR). The APR will be very useful for comparing offers.

Finally, the online credit redemption simulator saves you time. Indeed, you do not need to move because offers are sent directly to you by email. Do not hesitate to make several simulations to observe the cost differences according to the chosen duration.

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