Carefully weigh the disadvantages and benefits of the loan. However, do not allow yourself to be blinded by low interest rates in the real estate credit comparison: Even if one can build up capital for the home purchase through various savings options, there is often not enough equity available to cover the costs of the dream home. Buy a home without equity – which bank is financing it? The more equity you bring in, the lower the loan amount.
Loan comparison: How to find the cheapest price quote
If you want to buy a property and have taken advantage of a loan, take a close look at the different loan offers. The loan comparison for the dwelling usually takes place at standard conditions, but gives first indications. Then make an appointment with your bank and other institutions for a free loan comparison.
Get a detailed and calm explanation of the loan conditions.
Set up your financial framework for loan comparison when buying a home: How much can you raise for loan payments per calendar month? Define your framework conditions for a credit for the Bauspar comparison. Your financial situation will be carefully checked by the bank.
In addition to the net income for the year, the number and amount of other loans also play an important role. Of course, the bank wants to know which real estate it finances. Have your requirements been fully considered by the Bank in its proposal? Do not be afraid to ask for a credit comparison.
Instead of using the borrowing rate for the loan, you should use the annual effective interest rate in the bank comparison: It includes all costs incurred, such as handling fees, loan or account management fees. Important in the loan comparison: For interest, every decimal point is important. If it is only 0.25 percentage points higher, the residual debt increases by several thousand USDos: Do not be fooled by low interest rates in real estate credit comparison:
In the example, with a loan of USD 150,000 and a target fixed interest rate over ten years, three credit institutions make an offer: Special redemption optionUlter repayment optionOnly 98% of the loan will be paid out, the remainder will be retained as a discount – a prepayment. Conclusion: The bank has applied a different fixed rate than you specified.
For the loan comparison, you should get a corrected quote. Conclusion: The bank has been able to follow your instructions and clearly indicates the target interest rate and the effective interest rate. Favorable conditions for a loan comparison. You have to take this into account when comparing loans. Take a closer look at the repayment plan for a loan comparison: Here you can see how the monthly installments of interest and principal repayments are set and what loan amount remains at the end of the fixed interest period.
Only if it complies with the reimbursement plan of the respective service providers can the remaining debt be used as a yardstick for the loan comparison. As an alternative to the repayment, you should therefore give banks a steady monthly loan-to-loan ratio if you want to use the remaining debt as a benchmark.