Online loan home purchase

Therefore, this should be calculated well to get a cheap home purchase loan. Before lending, the banks make a Credit bureau request to protect themselves from excessive credit risks but also the possibility to take out a loan directly from private investors.

No credit for house purchase (contract law)

No credit for house purchase (contract law)

Dear advice seekers, Thank you for your question, which I will answer based on your information as follows: Whether you are forced to take over the building depends primarily on whether the rental agreement concluded in 2003 between you and the house owner came into force. For a sales contract, through which the property owner undertakes to transfer ownership and the other business partner to take over the property, a notarized certification is required in accordance with Section 311b (1) sentence 1 BGB.

After you concluded a purchase contract in 2003, that you would acquire the house you moved into in 2009 after payment of the remaining purchase price and the home owner committed himself in this purchase contract to the ownership of the property to you and thus also to the house you lived in to pass, a certification according to financy company was also required.

Conclude the contract

Conclude the contract

According to your information, this certification is available so that an effective purchase contract has been concluded between you and the house owner. Because I have no further information here to speak against an effective conclusion of the contract (for example, this could be the insignificant case that one of the contracting parties was unable to act at the time the contract was concluded, the legal transaction would be null and void under 105 BGB) I assume.

Because the principle of adhering to effective contracts applies after the contract has been concluded, you are now also obliged to pay the remaining purchase price and to transfer the ownership of the house to you after this contract has been concluded. As a debtor for a cash payment, you usually bear the risk of loss because you are no longer able to make payments due to exhausted credit lines.

However, this means that your payment problems are no reason for you to withdraw from this 2003 employment contract and that you are still subject to this employment contract. I regret that I was unable to provide you with any good information here, but I hope that I have given you a first impression and will continue to assist you in the future primarily in connection with the function of free demand.

However, so that you can check exactly whether there are no possibilities for you to be released from the obligation to fulfill this contract, it is necessary to know the complete notarial contract.

Real estate financing – personal loans immediately online

While your parents used to save many years to buy a property, more and more people are buying or building a house today – even if they have little or no financial reserves. We’ll tell you how you can get your own home now. Use the online comparison calculator free of charge and find the right real estate financing!

As a borrower, take advantage of the tougher competition in the real estate financing market: numerous new real estate financing providers have also increased the range of real estate financing offered, and existing banks have to act more flexibly in order to remain competitive in the competition . The monthly charge for a borrower is low with construction financing despite full financing, the interest level is favorable.

Until a few years ago, 20 to 30 percent of the purchase price had to be available as equity when buying a property. Nowadays it is possible to finance up to 117 percent through real estate financing. Real estate financing is therefore particularly recommended for those interested in buying or building who have so far saved little or no equity, but at the same time have a high and secure income.

A home savings contract is still the usual offer from a bank to a future homeowner, but a home savings contract is always accompanied by a demand for long savings. We do not recommend this, because the average seven-year savings period on a certain amount of equity means that favorable interest rates cannot be used. Real estate financing is also possible much earlier, namely now.


Insurance: Builders need real estate financing and builders’ liability

home loan

A builder’s liability insurance repels unjustified claims and settles justified claims for damages – and thereby protects some proud builders from financial ruin.

Building owner liability would apply, for example, if a skater fell on the sidewalk soiled by the construction site and a leg broke or children who were unauthorized on the building shell were injured by insufficient protection. In the event of personal injury, she pays treatment costs, loss of earnings, pain relief and, if necessary, a lifelong pension. The builder’s liability insurance applies until the completion of the insured construction project and without deductible, even minor claims for damages are covered by the insurance.

The client is insured, all employed contractors, architects and craftsmen as well as friends, relatives and friends who help with the construction. Remember, a builder not only needs good real estate financing, but also a builder’s liability insurance!

Our tip: The online interest calculator will find the best real estate financing for you in the shortest possible time!


Insurance: Baufi protection secures your real estate financing in the event of unemployment

home loan

Fear of unemployment is the most common reason why people choose not to buy property. Of course, this fear is justified in the face of high unemployment and bankruptcies, but any real estate financing can be protected by building protection, which takes over the monthly loan payments in the event of unemployment or inability to work on the part of the client , thus guaranteeing real estate financing.

An early decision is important here, Baufi protection can only be concluded in connection with construction financing. Once taken out, the insurance period is five years and then automatically extended for another year if the Baufi protection is not terminated with three months’ notice to the next expiry date.


Compare real estate financing – follow-up financing

If a loan from an existing building loan needs to be extended, a good follow-up loan can save a lot of money, often even amounts of several thousand dollars.

Follow-up financing with a forward loan: The word “forward” already says it – “preliminary run”. If your current fixed interest rate ends within the next twelve to sixty months, you can already take out a forward loan and benefit from the current interest rate level.

The forward loan is a classic annuity loan with special agreements. The special agreements state that you are already concluding the follow-up financing contract, but payment and installments will only be made at a later, contractually agreed time. A forward loan does not incur any additional costs.

The right choice of loan term

Long loan terms make the loan more expensive

The total loan costs consist of the loan amount, the sum of the monthly interest costs and the processing costs. With a longer loan term, the monthly charge decreases due to the lower repayment rate, but with a longer term you also pay more interest because this is calculated for each month of the term.

List your earnings

List your earnings

Suppose you need financing for the living room furnishings and would like to take out a loan of 4,000 USD for this. Then you should note the following. Facilities are generally long-lived assets, i.e. purchases that you will not renew in a hurry. You should choose the loan term so that you can easily pay the monthly installments from your freely disposable income. This is calculated from the sum of your income minus your current expenses. Income includes net income and other income such as social benefits (child benefit, parental benefit), capital income and rental income. You should list your expenses as precisely as possible so that you can calculate your freely disposable income.

Calculate your monthly expenses accurately

Calculate your monthly expenses accurately

The expenses include your monthly payment obligations for rent, electricity, cell phone etc., i.e. payments that are to be made regularly on a monthly basis. When making your household bill, take into account certain payment obligations, such as insurance premiums, which are usually incurred annually or every six months. The rates for loans that are already in progress, the running costs for the car and of course the cost of living for food, clothing and personal hygiene must also be included. In addition, you should include spending on leisure activities such as vacation, cinema, restaurant visits, because you definitely do not want to do without that.

Only the freely disposable income is decisive

If, after deduction of all monthly payment obligations, you can freely dispose, for example, of 300 USD a month, then you should not use this amount completely for the installment repayment. Take unforeseen events into account when planning. Maybe the washing machine breaks or your son suddenly needs money for a school trip. In the example described, the monthly installments should not exceed 100 USD. The loan term now of course depends on the conditions – especially the interest rates – which differ from bank to bank.

Compare the APR

Compare the APR

Financial service providers not only specify the borrowing rate, but also the effective annual rate so that the various offers can be compared directly. The APR includes all the cost components of a loan, including ancillary costs such as processing fees. It is a few hundredths of a percent above the annual borrowing rate. If you compare the offers of the different providers, you will be guided by the effective annual interest rate.