Mortgages Will Be Well Planned

Before any property purchase, the related mortgage lending should be well planned out. Banks and various financial service providers offer each potential house builders today various types of loans that will be briefly described below: Annuittendarlehen: The standard product of all construction financing loans. The borrower pays a monthly always equal to constant rate, which is composed of principal and interest. Provided repayments reduce the amount of interest expense. The burden is thus good for the customer to calculate. Variable loans: A variable loan initially does not require repayment. It covered only the interest on a monthly basis. The amount and timing of repayment be left to the borrower. Therefore, variable loan to offer, especially for making intermediate and short-term maturities. Bausparvertrag: This is a mixture of Guthabenansparung and borrowing. Even at the contract, the customer knows what conditions he will receive the credit in the future. From the accumulation phase a certain monthly rate is paid. Overall, withachieved one Bausparvertrag quick relief, however, these installments are also higher. For each loan, the bank will demand collateral from borrowers. These are primarily known as liens (mortgage), any guarantees or other additional collateral, such as transfers of capital life or pledges of bank accounts. Besides the various types of loans is a certain percentage of any equity based mortgage lending. As a rule of thumb, and often requested by banks, which have 20-30% of total costs. Each equity also reduces the loan amount for buying a house. Also you can save in-house services. Everything we carry out the construction themselves, saving the wages and earnings increases of contractors. This does not minimize costs is also the amount that would otherwise have to finance it.