Mortgages without equity is worth in the interest rate low in all cases Berlin 14.11.2011 – who want to realize the own real estate dream, cannot survive without corresponding capital. Most people have limited own funds and must ask a real estate financing with a credit institution accordingly. At present, the conditions for this are very tempting: the interest rates are at record lows. Several institutions offer even full financing, so a real estate financing without equity. Can not answered the question whether is worth a construction financing due to the currently very favorable rates even without the equity largely recommended by experts by approx. 20%.
The answer requires the analysis of personal life, income and financial situation. Which possibilities and disadvantages associated with a full financing? Just for younger people, who mostly have little or no savings are or which provides for a short-term real estate dream Full financing a possibility to realize without according to existing equity. Currently added another consideration: is the funding realized now at reasonable interest rates, this might be much cheaper, so for years to come to save, then with possibly worse terms to complete. What sounds at first even plausible, but requires a detailed examination: full financing mean higher rates burden, because the loan amount and the calculated interest when compared to existing equity financing are disproportionately high. The loan limit is usually between 60 and 80 percent conventional real estate financing. The Bank requires appropriate premiums for full financing increased security risk (security of repayment). An increased monthly burden must then be contested by the borrower of disposable income. Alternatively, also called Bausparsofortkredite by building societies in question can be: here a loan amount is disbursed also (no accumulation phase) immediately and then interest payment and savings performance be carried out on a combined to final concept. After the allocation, the construction savings as repayment performance is used, as previously no repayments have been made.