We would like to inform you optimally about the application for a house financing, and with our financial editorial team and experienced experts we have worked out a comparison for a good overview. If you would also like to read more about the topic or are interested in specific aspects, you can find a comprehensive guide under the comparison. Find the best home finance options for you now and apply for them online!
The best home finance at a glance
Have you always dreamed of not having to pay rent anymore, but instead of buying or building your own property using flexible house financing tailored to your personal needs? Or the deadline for fixed interest rates for your existing loan ends soon and you are looking for a particularly cheap follow-up loan?
Then you should only put yourself in the best hands and find the best conditions for you and a competent partner with a comparison. Most providers not only finance your house purchase or house construction cheaply at the best positions, but also have the terms adapted to your individual life situation during the term. The best conditions are:
- Low interest rates for 5, 10 or 15 years
- Redemption from 1 to 10 percent pa freely selectable
- Change of redemption possible twice free of charge
- 6 months free of interest
Home finance should give you all the freedom you need. Optimal is therefore a clear basic loan with additional conditions to be set individually.
Do you want to check in advance without obligation and free of charge what financing amount you can afford or whether a change of bank is worthwhile for follow-up financing? Then use the online comparison calculator to calculate the best conditions in advance and find the best home finance in a convenient and clear manner.
Are you planning to realize your dream of owning a home and are you looking for home finance? The current low interest rates on the capital market are ideal for this, but home financing still needs to be well thought out so that you and your family can secure themselves over the long term.
The best home finance – what services should the credit institution offer
Your house bank or the new provider for your house financing should essentially meet the following minimum requirements: in addition to the classic takeover of new and follow-up financing, it should also offer forward loans and advise you on funding options from the Reconstruction Credit Institute
In addition, you are entitled to services such as loan extensions, small loans (residential loans) for renovations, modernizations or complete renovations. As a rule, the provider will apply for these funds for you and pay them out to you immediately if they are approved.
Also ask for interest rate discounts. Some areas receive special funding, which the bank should pass on to you. These interest rate reductions then also apply to follow-up financing or forward loans. In the case of loan extensions, however, not because the interest conditions of the original contract are used there. It is worth considering the possibility of debt restructuring here.
The best home finance – The path to home refinancing
Homeowners who want to take out a loan for the first time or make a financing request are often still unsure how they should ultimately get from the request to a loan provider to their dream home. A home finance calculator first helps to clarify the most important question: What does home finance cost overall? The result shows clearly and without obligation whether the dream can be planned realistically or not. A further inquiry to the desired potential loan provider with a click will then provide you with information about further steps, how the application for funding will ultimately be made, which documents will be necessary and which provider will offer you personal advice if you use the online service -Procedures are not familiar and would prefer an additional on-site discussion.In any case, use an online calculator to get an overview. You will be surprised at the differences between the providers. The mortgage calculator answers the following questions:
- What does my planned house financing cost in total? So basic amount plus interest costs plus additional costs
- How much will the monthly financial burden be?
- What happens if the repayment rate changes?
- How much will the remaining debt be at the end of the fixed interest period?
The calculator gives the opportunity to play with different conditions. So you can develop different scenarios and try out the effects on interest rate developments with different terms. The relevant interest rate for you is the annual percentage rate, because in contrast to the borrowing rate, it includes all incidental costs that the bank charges.
The best home financing – how does it work with follow-up financing?
Follow-up financing after the end of the fixed interest period is usually the rule for home financing. In the case of larger projects, multiple follow-up financing is often necessary, because either the old loan contract will have to be extended or rescheduling to another bank will take place if it offers the better conditions. With the follow-up financing, the remaining debt is repaid. So that you can compare in peace, you should take care of corresponding offers in good time before the interest rate lock expires. Since such a comparison works for follow-up financing, for a contract extension with the current bank or for a debt rescheduling and a normal loan comparison outside home, an online calculator can also do an excellent job here.A new provider can offer you a new interest rate if market rates have changed.
The best home finance – comparing is worthwhile
So if you use the online calculator to find a cheaper offer than your current financing bank, rescheduling can make sense. It is best to use the end of the fixed interest period, because then you can usually terminate the old contract with one month’s notice, without having to pay a cent prepayment penalty.
If your loan has been running for at least ten years, you can cancel at any time with a notice period of 6 months. All credit institutions are obliged to do this and you as a borrower should keep your good money together with low interest rates. You have nothing to give away. Since the banks usually regulate the debt restructuring procedure among themselves, it remains easy for you after the comparison and your signature: you do not have to worry about transfer and conversion afterwards. You only benefit from more favorable terms, because the higher the remaining debt and the compared interest rate difference, the more meaningful the debt restructuring becomes.
The best home finance with forward loans
A forward loan is also often worthwhile for follow-up financing. You can take out this loan up to 60 months before the end of your fixed interest period and then use it to replace the old loan or rescheduling. Favorable: You do not have to pay any installments during the lead time – during this time everything is frozen, so to speak, even the cheapest interest that you secure for the future. So you have made two loans side by side for a while, but you only have to pay one. A forward loan usually has a small premium, which the lower interest rates make up for. Therefore, use phases of low interest rates with a forward loan to secure the best conditions for your home financing.
The best home finance with Reconstruction Credit Institute funding
Reconstruction Credit Institute grants are divided according to various criteria, depending on which measures are to be funded across Germany or across Europe. In recent years, the focus has been on energy renovation to increase the energy efficiency of old buildings and energy-efficient construction on new properties. This includes subsidies for thermal insulation on walls, roofs and ceilings, renovations for heating or windows and external doors, installation or renovation of ventilation systems and the optimization of an existing heating system.
Furthermore, in the context of conversions or refurbishments, the handicapped or elderly building is promoted. Find out in advance about the various options on the Reconstruction Credit Institute website and speak to your bank about them, because in addition to low-interest loans, Reconstruction Credit Institute also offers guarantees and, under certain conditions, grants that do not have to be repaid. Services by architects and other consultants are also promoted by taking over a certain percentage.
If you want to finance a house and are dealing with the subject for the first time, you will often be amazed at how serious an interest advantage of only 0.1 percent is. This is related to the high construction or purchase sums and the long terms when buying a home loan. It is therefore important to compare and test before home financing as well as follow-up financing after 5 to 15 years. The following applies: the higher the amount to be financed and the longer the loan runs, the greater the influence of the interest rate difference between two loan offers. Determine this difference using our loan calculator. Therefore, a comparison is definitely advisable if the project should fit into the individual budget.Only each consumer can find out which is the best home finance for themselves in a comparison and home finance test.