If you have to take out a mortgage and you don’t know how to do it yourself. Then a credit advisor can help us. Who is a credit counselor and how much will he earn from helping us?
Credit counselor commission – how much does a credit counselor earn?
Credit advisor, prepares a thorough analysis of the borrower’s capabilities and on this basis selects the most favorable bank loan for him. The help of a financial adviser is particularly important if you are looking for a mortgage offer to buy an apartment or build a house.
The amount of such a loan usually exceeds several hundred thousand zlotys and is repaid for 20-30 years. In this situation, the selection of the right commitment is really extremely important.
The advice of a credit advisor is free. His remuneration is a loan commission. Usually, the larger the loan he “sells” his clients, the higher his commission and earnings.
This commission is granted by the bank to which the client submits an application for the grant of a given mortgage. Which is logical that his adviser’s earnings increase with the amount of the loan. This, of course, does not mean that he will choose his credit by force. In this situation, the bank will reject our application.
Credit advisor – is it worth using his services?
Why can the help of a credit advisor be important to us? First of all, because we do not always have the appropriate knowledge to choose the best offer. For long-term loans, our creditworthiness is extremely important, which is calculated not only on the basis of our earnings, but also on all our expenses and financial obligations.
The adviser thoroughly analyzes our revenues and expenses, thanks to which he knows how high a monthly installment we will be able to pay back. Only then will he choose the best loan offer for us.
People who do not want to use the help of a financial adviser can try to prepare such an analysis themselves and choose a loan. You need to accurately calculate your mortgage cost and creditworthiness. To this end, they should use online loan calculators, including:
- creditworthiness calculator;
- loan installment calculator;
- and a mortgage calculator.
If you want to choose the right loan offer yourself, check out our mini mortgage guide.
However, it is worth remembering that using calculators we will get only approximate data, and the data of financial advisor will be more current.