Nothing as exciting as buying a new home. It usually starts with a difficult search, but once the sale agreement is concluded, there is no turning back: that fantastic home will soon be entirely yours! That is, if you have also completed the financial side of the matter. Because investment in real estate is almost always accompanied by a mortgage loan. Curious about how to negotiate the best loan? You discover it here!
You are not rushed to negotiate a loan
If after a long search you finally have a house in mind, the temptation is to take out a home loan as quickly as possible. And you are right, but it is better not to rush. Anyone who wants to get the most advantageous loan out of the fire is best to take the pragmatic approach and show the necessary patience. Comparing as many lenders as possible is what counts. The smallest rate improvement already makes a huge difference on the final bill. Start with an online simulation of your mortgage loan and record multiple agreements.
The better the preparation, the better the loan
Have you made an appointment with the bank? Then it is best to prepare thoroughly. Check well in advance exactly what amount you want to borrow and make sure you have a good idea of the long-term interest rate. Here are some other tips:
- Always request a repayment table on paper. This will make it easier for you to convince another lender to make a better proposal.
- Weigh the different rates, durations and formulas well and do not compare apples with pears. Therefore, look at the total amount that must be paid off (capital and interest) and also note the conditions that banks link to their preferential rate. For example, are you obliged to link one or more insurance policies to your mortgage loan with the same lender? Take a calculator anyway to calculate the total cost.
Take out the right insurance policies
A cheap loan, that also means a well-insured loan. For example, debt balance insurance is a must. This is not mandatory, but it is the guarantee for a carefree future for your relatives. With a debt balance insurance you avoid financial problems if you suddenly die. Depending on the percentage for which you are insured, the insurer takes over part or all of the repayment of the credit. In addition, a debt balance insurance is tax deductible under certain conditions. Tip: you choose the debt balance insurer with which you will work. Here too, comparing is the message!