Securing a home loan can be challenging, especially if your employment doesn't signal long-term stability to lenders. Banks often reject applications from those without steady jobs. Many couples improve their odds by applying together—but what if one partner is on a fixed-term contract (CDD) and the other on a permanent one (CDI)? Here's how to navigate this effectively.
Before approving a mortgage, banks scrutinize your finances closely (see this guide). They need assurance you'll repay the loan. Stable employment—such as public sector roles or CDI contracts—reduces unemployment risk, making lenders more comfortable granting financing.
Fixed-term contracts (CDD) raise concerns due to their temporary nature. However, pairing with a CDI-holding spouse strengthens the application by boosting combined income and lowering the debt-to-income ratio, even if the CDD ends.
Couples with one CDD and one CDI frequently seek home loans, using the stable CDI income to offset risks. Joint applications often yield higher borrowing power and favorable terms, as the CDI provides reliable repayment security.
That said, banks typically exclude CDD income from debt ratio calculations due to its uncertainty—even if it's the higher earner. Exceptions include public sector CDDs or those in high-demand fields, which mimic CDI stability and may be factored in.
To maximize approval chances, omit the CDD income from debt calculations unless it's in a stable sector like public service or a growing industry. Instead, consider solo borrowing on the CDI with state-backed aids like zero-interest loans (PTZ). These can serve as a down payment, reducing borrowed amounts and reassuring banks.
A solid down payment often unlocks better rates and terms. Compare offers using online mortgage simulators to find the best deal. Alternatively, wait for the CDD partner to secure a CDI, enabling a stronger joint application for a larger loan and property.
