Mortgage credit: a loan for your new home
Purchasing real estate, usually a private home, requires a significant sum of money. The chance that you have such an amount in your savings account is of course small. That is why all banks offer various types of mortgage loans . To get familiar with the complicated tangle of mortgages, you should opt for expert and independent advice.
A customized mortgage loan: factors that play a role
Various factors play an important role in your choice of mortgage credit. The price and the tuning to your personal possibilities and needs are of decisive importance. That is why the credit institutions would like to take the time to discuss the following aspects of a mortgage or home loan:
- The interest rate on a mortgage loan determines how much interest you pay on the repayment of the borrowed capital and currently fluctuates between 4 and 5 percent.
- When taking out a mortgage loan, you have the choice between a fixed or variable interest rate. If you opt for a variable interest rate, the interest rate will be adjusted to the current market situation after a few years. In some cases, a variable interest rate is cheaper than a fixed interest rate.
- Although it is not required by law, almost all banks ask to take out outstanding balance insurance when taking out a mortgage. You can pay that insurance in one go or in annual installments. The price for such insurance is very different from bank to bank.
- When taking out a mortgage loan, you always have administrative costs. Here too, the prices are very different, ranging from a fixed amount per file to a percentage of the loan amount.
- Finally, a number of banks oblige customers to deposit their wages in an account of their bank. A new current account obviously means extra annual costs.
Professional advice for tailor-made credit
The credit calculation of the total cost for a mortgage loan and the search for the cheapest loan institution or bank therefore requires a lot of effort. The fast credit house does all this for you. We help you calculate the cheapest solution in your situation. In the meantime, you can already make a credit simulation on our website of the calculation of possible mortgage loans.