If you want to build a house or buy an apartment, you have to consider at an early stage how you can fund such a project most efficiently.
Many fall back on a classic home loan, others opt for a home loan .
Despite or even because of currently low interest rates, the home loan savings contract is still a popular financing tool when it comes to financing your own four walls.
Best bank savers first a certain amount of money.
If he has finally reached the minimum savings amount through regular deposits, he has acquired the right to claim a very low-interest loan from his building society.
Such a home loan can only be used for the following purposes:
- New construction of a residential property
- Buying an apartment or house
- Modernization work on an existing property
- Conversion work on the existing home
- Securing housing rights (e.g. in a senior residence)
The home loan is therefore earmarked and may not be used, for example, to buy a new vehicle or to travel.
Best bank the so-called savings phase behind him, in which he deposits money and builds up a Best bank credit.
The next step is the allotment with the allotment date. In order to be ready for allocation, he must have a certain part of the agreed savings amount (the minimum savings balance) determined by the building society, and the minimum saving time must be available, which is usually around 18 months.
As a final requirement, the home saver must achieve the target rating number. It shows the ratio of the savings performance of the home saver to other savers.
- You can steer the target rating up by accumulating a lot of home savings in a very short time. In this way, an earlier allocation date and payment can be achieved.
If all the requirements for an allocation are met, the third and last period begins in the loan phase, in which the home loan is paid out to the home saver against an interest rate between 2 and 3% (based on the loan amount). The amount of the loan is calculated from the difference between the home savings balance achieved and the fixed home savings sum.
Repayment of the loan has little time.
Fixed-rate interest over the entire term is also an advantage of a home loan. This gives the home saver great planning security and is independent of fluctuating interest rates.
A special feature of this loan form is the very high flexibility that can be B. show the special repayments for which the home saver does not have to spend additional costs in the form of fees.
To provide security.
A home loan is usually worthwhile if the home saver does not want to build his own four walls immediately, but only wants to realize the purchase or construction project in a few years. Since the minimum age for the conclusion of a building society contract is already possible at the age of 16 at many health insurance companies, you should consider working on your own home early.