What are the costs in addition to the purchase price of a property? Who is a mortgage for? What is special about mortgage loans? What documents does the bank need for a real estate loan? Finally I found my dream home and even reserved the necessary bank calls.
To what extent does it take from the agreement with the provider to the signing of the purchase contract (home purchase)?
Purchase contract has already been certified. The request for payment has been sent to the central bank. There was also a document from the seller’s house bank where the house bank suddenly asked for the full purchase price. In the case of a transfer to the bank account indicated by the liquidator, the transferor would now refuse the keys as this was regulated differently in the contract.
Now we have some fears, because after the sales contract, we have already abandoned our facility and our apartment. Is the sales contract extinguished by this?
Mortgage lending: Choosing the right financing period: Tips & Hints
When will a loan be repaid? That is the question of who equips his house with funds from banks and Co. An example of the financing period is the repayment plan you get with your loan offer. After all, the actual financing time depends on many different aspects:
Often, borrowers have the option to increase or decrease the repayment installment and make unscheduled repayments. In this way you can match the funding to your personal life situation and the current financial situation. Homestay with child and sole earner: Many of the young host families start with a small repayment, which they later increase – if both sides get back money or the two are self-employed.
Paired with having a future baby wish: If you expect a lost salary at a later date and have less resources on hand, you can start with a higher repayment – and reduce it if necessary. You do not necessarily have to put all your energy into the current repayment. You can choose a low repayment and repay the remaining debt later with special payments.
In the past, it was normal to buy a property at the age of 30 and to be debt free at the age of 60. Only at the age of fifty, many can set up or buy their own house and at the age of 65 they can still be debt-free – possibly through higher repayment rates and / or special effects. Pensioners usually have significantly less income.
The decisive factor,
Whether you have enough capital to pay in installments – possibly even for a residual loan. For most borrowers, the interest is hedged over a longer period of time, eg 5, 10, 15, 20 years or even until full repayment. However, it is difficult to predict what the interest rate will be for later financing of the remaining debt.
For careful calculation, many calculation models then assume an interest rate of 5, 6 or 7% plus 1-2% repayment per year.