Easily calculate building loans with the construction loan calculator
A home can be financed in most cases only with a loan. But how much loan is possible with the existing income or loan installment can be transferred? Using the calculator on Baukreditrechner.me these calculations can be done quickly and easily to get a first orientation. With this data the real estate market can be checked and a suitable object can be found. Even the later financing is hereby made much easier.
Create financial planning with the construction loan calculator
Good financing depends on long-term planning. So, before you set out to find a suitable property, it should be checked which monthly rate is themaximum portable. Only who knows what revenue he can expect on a monthly basis and what expenses have to be taken into account can determine which rate is acceptable. It is important to plan the actual expenditures that are actually available, because major restrictions or even a reduction in the standard of living should be avoided.
These data are compared with the revenue statement:
- revenue expenditure
- Net income living with utilities
- Income from self-employment work food
- Child money clothing
- Income from renting / leasing leisure / going out
- Pensions Mobility (including tax / insurance) communication
- Private insurance
- other fixed regular issues
Such a comparison makes it clear at first glance how much is spent monthly for which areas and how much money is available. In the best case, the current rent is used for the future monthly installment, which has already been used up to now. In addition, it should be noted, however, that the additional costs for a property are much higher than for an apartment. The banks expect an average of 2 euros per square meter here. In addition, reserves for maintenance must be set up in order to be prepared for necessary renovation and modernization work. Depending on the size of the object should 100-200 euros per month.
Calculate the maximum loan amount
Not only the maximum portable rate can be determined with the construction credit calculator, it is also possible to determine the maximum loan amount on the basis of this data. The loan calculator sets to this, the current yield level and the desired maturity basis and thus determines the repayment portion of the loan and the payable monthly. The total costs that have to be paid to the bank during the term are also determined. It quickly becomes clear how much the dream property can cost and which maximum amount can be spent. If equity capital is available or own contributions are used, the final investment sum may even be higher.
Maximum possible loan amount on the basis of the monthly freely available rates +
Own work / equity
= total investment
In order to check whether the respective construction project or the property fits the existing budget, the associated costs should be listed exactly. In addition to the purchase costs, above all brokerage fees, land transfer taxes and the land register entry must be taken into account. A lineup can help to identify the respective costs and to each number.
Tip: Calculate the cost using estimates or architect calculations. Always plan a small contingency buffer to avoid costly re-financing.
Create a repayment and payment plan
If it is clear how much money is needed, the calculator can now be used to carry out an individual credit calculation. It calculates not only the monthly payable rate, it also calculates which interest and redemption portion is individually included. It becomes clear that, especially in the first few years, a rather high interest component has to be paid. With increasing repayment, however, the repayment increases and the interestpayable decreases. Care should also be taken in this calculation to increase the maturity of the loan the lower the initial repayment is chosen. With a repayment of only one percent While the rate is very low, the maturity in these cases is more than 40 years, which significantly increases the overall cost of the loan.
Average maturities for 100,000 euros after redemption, interest rate 2% pa
1 percent 55 years
2 percent 35 years, 9 months
3 percent 26 years, 7 months
4 percent 20 years, 4 months
5 percent 17 years, 11 months
For many mortgage loans, borrowers have the right to make special repayments. The Construction Loan Calculator makes it easy to determine the impact of special repayment and the savings that can be made. This significantly simplifies individual financial planning.
Find cheap loans with the building loan calculator
In addition to individual financial planning, the construction credit calculator also allows a comparison of the various providers . The bids can be very different in terms of both their costs and the other conditions . Therefore, a comparison of the loans is recommended, which is easily possible online with the computer. Within a few minutes, the construction loan calculator shows which bank offers a suitable offer and on what terms this can be concluded. Even the smallest differences of 0.2-0.5 percent have a long-term impact and can lead to additional costs of a few thousand euros.
Special conditions that may include real estate loans
- long-term deployment at no cost
- Duration of fixed interest
- unscheduled options
When choosing finance, however, loan seekers should not only keep an eye on costs but also check the special conditions associated with the loan . Anyone who builds new or wants to finance extensive modernization projects should pay attention to the longest possible provision. Often, three months after the conclusion of the contract, provisioning fees are due, which can cause high costs overall. It is better in these cases, a contract in which to be charged after six or 12 months delivery rates . The duration of fixed interest rates is an important issue, especially in times of low capital market rates. Even if longer fixed interest rates are often associated with small interest premiums, these can make sense, as borrowers thus protect against rising interest rates. Special repayment options ultimately offer the opportunity to respond flexibly and to invest existing assets directly in the financing.
Apply for a construction loan online
As soon as a cheap offer has been found with the help of the construction loan calculator, the construction loan can also be requested directly online. For this purpose, it is necessary to complete the loan application at home on the PC and to submit it to the financing bank. The most important information required for the application includes personal information, income information and information about the property. It is important that all information can be substantiated with appropriate evidence . This makes it easier for the credit decision-makers at the respective banks to make a decision.
This data is needed for a financing offer:
- complete self-disclosure including existing liabilities and assets
- Information on income including proof
- if applicable, employment tax assessment
- possibly bank statements
- Proof of existing equity
- Documents for the financing object / Baumappe
Customers who do not want to conclude such extensive financing themselves on the PC can alternatively make an appointment with a local bank or savings bank. Even freelance financial advisers can help find suitable loans and put the financing on solid feet. With the building loan calculator prospective buyers are in any case well prepared and can enter into fair negotiations regarding the conditions as well as the credit conditions.