Favorable follow-up financing to the real estate loan?

You can choose between three different financing options for follow-up financing. Experts will check the best conditions for you and advise you in detail on the forward loan, the prolongation and the rescheduling of the real estate loan. Which follow-up financing is suitable for you depends on various factors and requires optimal planning.

The most frequent questions in consultations

• How high are the interest rates for follow-up financing?
• How does the follow-up financing work?
• What does follow-up financing cost?
• When can you do a follow-on financing?

Roughly speaking, the following applies to follow-up financing (rule of thumb)

If the new interest rate is at least 0.2% below the previous one, the debt restructuring is worthwhile.

What do I have to consider?

• Early start of planning
• Save equity capital
• Check offers thoroughly
• Negotiate with your bank advisor
• Tip. Not only interest rates, also pay attention to the ancillary conditions
• Set monthly installments
• Optimize them so that you make all repayments safely, regularly
• If possible, make additional special repayments
• Tip. Also use your special termination option

After 10 years, you can reschedule and make use of your special termination right, more on this in a moment, after the tips the next bank appointment.

Real estate financing: How the bank thinks – Video Tip

The following two videos give good insights into the mindset of banks with “Internals on Lending” and “How to Prepare for a Bank Appointment”.

Video: Internals on lending

For more information, check out this video by Alex Fischer:

Video: How to prepare for the bank appointment

Follow-up financing before expiry of the fixed borrowing rate

Would you like to refinance earlier due to an older and high-interest property financing and not wait until the fixed interest rate expires?

After 10 years, you can reschedule and make use of your special termination right without your desire for a cheaper loan for your property being accompanied by an early repayment penalty for the bank. In terms of follow-up financing, low interest rates are the first choice of our customers. Keep in mind that a low interest rate alone is not enough if the terms and conditions elsewhere do not suit you. We will find your personal follow-up financing and make you an offer that suits you in its entirety.

Compare the advantages of individual follow-up financing

Identifying the best terms on an offer requires a lot of know-how and core expertise in evaluating follow-up loans. Your lender will take this task off your hands and recommend a loan that matches your desire for follow-up financing in terms of its orientation and contractual basis.

Each lender’s condition offer is unique and tailored to your needs.

There is no blanket, for every property owner equally suitable follow-up financing with primary advantage. First and foremost, it depends on the right choice of loan and on the conditions and terms of flexibility that suit you.

Calculator: rate, repayment rate, residual debt

What will your planned construction financing cost you? But much more important in everyday life, how high will your monthly burden be and what happens if the repayment rate changes later? How high will the remaining debt be at the end of the fixed interest rate? Many questions, this rate calculator gives you all the important answers to rate, repayment rate and residual debt.

• Rate calculator

Der Beitrag Follow-up financing: Favorable real estate loan, interest, forecast & full repayment + calculator erschien zuerst auf ℄ Real Estates.

Budget calculator: Overview of income and expenditure

Real estate buyers and builders are usually dependent on a real estate loan. The sum can only be paid in cash in very rare cases. Before you can calculate the budget for your real estate financing, it is important that you get an overview of all income and expenses with the budget calculator. You will continue to carry most items despite taking out the property loan. If you have been living for rent up to now, this will fall away when you move into your own home. However, it is a fallacy if you assume that you can simply convert the rent into a monthly installment. The monthly instalment that you pay for the mortgage is more or less the same as the basic rent.

In addition, there are the ancillary costs that you have to pay as the owner of a house. These include the costs for electricity, water and heating. Furthermore, waste charges, property tax and fees for the work of the chimney sweep are due. As a homeowner, you are also responsible for the costs of all repairs. For this reason, it is important that you build up a monthly reserve. All in all, an average-sized family home will add up to several hundred euros a month. You need to include this in your budget if you want to put the financing of your new property on a firm footing.

Use budget calculator effectively

A budget calculator will help you list all the costs that are incurred in the process of household management. In principle, of course, you can do these calculations on paper. In practice, however, it has been found that often items are forgotten or calculated too tightly. In the budget calculator, all possible costs that may arise in connection with household management are clearly listed.

Functions of the calculator

You determine which costs you incur and enter the corresponding amount. Leave the fields that are not relevant for you blank. Make sure that you enter all costs realistically, otherwise the budget calculator will not be of any effective use to you. After all, you want to give an honest forecast and not falsify it with embellished information. Effective use requires a realistic indication of the actual costs incurred. If this is difficult for you because you have not thought about it at all so far, it is advisable to keep a budget book for a month. In this way, you can see what you are really spending. You can then transfer the values to the budget calculator.

Budget item

The individual items that are incurred for the management of a household, differ very individually. They depend on the household income, but also on personal interests. However, basic items can be defined in general terms, as they are incurred in almost every household. The costs in detail:

• Food
• Rent/loan instalments for own property
• Energy costs (gas/heating oil/pellets, water, electricity)
• Service charges (rent or individual payment according to invoice)
• Telephone and Internet
• Insurances
• Clothes
• Cosmetics and drugstore articles
• Books and magazines
• Fuel/public transport
• Medication/doctor’s fees
• Radio and television

Other costs and fees can be very individual. In many households, the following items are added:

• Daycare and school
• Sports Club
• Culture (cinema, theatre, lectures)
• Further education
• Travel
• Vehicle purchase
• Hobby
• Savings rates
• Credit rates

The advantage of a budget book is that you can also include small amounts in your calculation. This gives you a very good overview and you only need to transfer the results into the budget calculator.

Get an overview of income and expenditure

Once you have listed all the costs, compare them with your income in the household calculator. At the end you will get an evaluation. You will find out whether you have an amount left over in the month or whether your budget is negative. You can react to this accordingly.

Budget calculator and construction financing

In the context of construction financing, the budget calculator plays a very important role. It is used in the planning phase to determine what savings opportunities there are in the budget. This becomes necessary when money is to be freed up from the household income to pay loan installments. A budget calculator is very effective if you use it correctly.

Calculator at a glance

Calculator – Exact planning of the construction financing

Calculators are necessary in relation to construction financing in order to accurately determine the cost of purchasing or renovating a property. A calculator is also used to determine the cost of the loan. The credit costs are composed of the interest and the repayment portion for the current loan amount. The interest plays an important role. Since the term of a real estate loan is usually ten years, the interest payment is spread over a long period. If an offer from a bank is only half a percentage point cheaper in their interest, you can already save several hundred euros a year. This is also due to the high loan amounts, which for most construction financing a six-digit amount. Before taking out a loan, an individual consultation is important. Often the construction financing consists of several pillars and not just a single loan. A building savings contract, equity capital and development loans come before taking out the classic bank loan. The reason for this is that these financings are significantly cheaper than the bank loan in terms of their costs. The calculator helps you to divide the financing into different elements and thus determine the costs with certainty.

• Learn more about the calculator.

Interest calculator – Construction financing

The interest rates are a very large item in a construction financing. It is recommended that you compare the various offers and conditions well in advance. In this way, you will find out which construction financing is particularly favorable. Since the interest is a very large part of the monthly loan payment, especially in the first years of real estate financing, it is important that you try to save costs.

• Learn more about the interest calculator.

Budget Calculator – Equity & Income

Before the purchase of a house, a comprehensive renovation or a new building can be planned, it is very important to determine the available budget. Construction financing is planned over a period of many years. Financing between ten and 25 years is possible. It is important that the financing is planned from the beginning on a secure foundation. The basis for the budget that is available to you for the conclusion of a construction financing is your income.

• Learn more about the budget calculator.

Offer comparison calculator – advice & options

The offer comparison calculator is an important tool when it comes to choosing a partner for taking out construction financing. Many builders are dependent on taking out a classic loan at a bank or savings bank, because the funds from the equity, a building savings contract and a subsidized loan are not enough. Although the comparison possibilities of the indication by the Internet are very simple and transparent, many owners trust only in the offer of their house bank.

• Learn more about the quote comparison calculator.

Der Beitrag Budget calculator – income and expenditure at a glance erschien zuerst auf ℄ Real Estates.