The home loan may not be missing in any real estate financing. It really completes solid financing. It is said again and again and nothing is wrong. Also very often spoken of the particularly favorable home savings loans interest. But are they actually always as cheap as often assumed? This question arises many a builder many times, which is no wonder. For this you first have to take a closer look at the entire Bauspar contract. High commissions and termination fees are due, the credit interest is negligible. Of course, in return, the home loan interest rates seem to be low, but you have to face the costs and the low credit interest. Then you quickly realize that the savings loan interest rates are not so cheap, as often assumed.
However, there are also significant differences in home savings loans, which should be looked at more closely. The home savings loans interest rates are usually set at contract conclusion. This has the advantage that you can secure low interest rates, which may currently dominate the market for a loan in the distant future. However, if the current interest rates on the conclusion of a home savings contract are high, the savings loans are also fixed at this level. For example, when paying out the loan, you pay higher interest rates than usual on the market at this time. Anyone who fears such a development, should rather forego the building society loan. In such a case, it may make sense to pay attention to a contract at the conclusion of the contract, which provides for a bonus payment in case of non-use of the loan.
However, if the home savings loan interest rates are in fact very low in individual cases, the loan should also be used in any case, in order to make the entire mortgage lending sound and long-term. It is worthwhile to compare home savings loans, which are currently prevalent on the market, even before a home savings loan is taken out. If the bank loan is offered more favorably than the Bauspar loan interest rates, because these were agreed in a high interest rate, this form of financing should be waived. Then it can make more sense to raise more equity and to claim all state subsidies.
At the conclusion of the home savings contract, it should also be noted which home savings loans interest rates the individual building societies offer. Because there are just as big differences here as in the area of the banks themselves, so that with a targeted comparison much cheaper home savings loans interest rates can be achieved. Of course, this requires a little time and an intensive preoccupation with the individual offers, but it is well worth it in the long run.
Compare interest rate building society loan exactly
Although the home savings loan is the cheapest option and an important building block for any mortgage lending, the interest rate home savings loan should always be checked exactly. Of course, a home savings loan can be a useful supplement to conventional bank financing. However, it can not completely replace them. For that reason alone, special attention should be given to the interest rate on home savings loans.
First of all, it is important to know that the interest rate home savings loan is already agreed with the conclusion of the Bauspar contract. This means that it pays to wait for a period of low interest rates in order to obtain a particularly favorable interest rate home savings loan. As many as possible of different Bauspar providers should be compared with each other to actually find the cheapest interest rate home savings loan for themselves.
In addition to the interest rate building society loan, it is of course also important that the savings contributions can be applied. This is only possible if the costs for the Bauspar contract are not too high, which is however regularly the case. Just commissions and termination fees cause high costs, which make it difficult to save. Likewise, attention must be paid to the rationing license. Some insurers offer faster rationing than others. Without this, however, a home savings loan can not be disbursed.
Since these reasons are important in order to decide on the right Bauspar contract, a corresponding comparison should be made in advance. It is equally important that the interest rate on home savings loans is taken into account and how quickly the loan must be repaid. Especially with home savings loans, the banks often require a very quick repayment, which brings with it a low interest burden, but also high monthly installments. Even when comparing the interest rate savings loan should therefore be attached to this point, a certain importance. Finally, only in this way, a suitable Bauspar contract can be found.
The interest rate home savings loan is also dependent on the individual insurers. Interested parties should therefore ensure that not too many costs flow into the administrative apparatus of the building society. Then the interest rate building loan can be a little lower. This also depends on how high the loan should be and how much credit has already been saved. Most building societies grant a loan only when about 40 to 50 percent of the targeted building savings (ie the sum of savings and loan amount) were saved. The higher the saved sum, the lower the loan and thus the interest rates. Again, this should be taken into account when comparing the interest rate building loans.
All in all, however, it still applies that the home savings loan is a favorable and meaningful addition to pure bank financing, since the interest rate on home savings loans is usually much lower than for a bank loan.