Those looking for affordable home loans and are well familiar with the matter should go with the mouse on the Internet on the search. More and more banks and credit discount brokers offer a home loan to at bargain prices. Even so, some bank building society and tradition mixed in the online market with now. For builders and home buyers may be worth browsing powerful.
Interest rates are on average much cheaper than the local bank around the corner, like Barbara Re, mortgage adviser to the Consumer Nordrhein-Westfalen stresses. It also stresses that extensive knowledge is required to benefit actually do.

“0.4 to 0.5% points are there loose there,” outlines the savings potential of the Internet provider back. For a home loan of 300 000 DM with 15 years fixed interest rate makes this “little” difference from 14000-34000 DM, Foundation, calculates Warentest. Such a huge price advantage may not offer the local bank or bank branch to retail easy. Online credit intermediaries such Dr.Klein & Co or interhyp.de other hand, can help as a “wholesale” loans to their customers at attractive rates, as explained back.

That virtually all Internet service providers also have to give cost estimates, partial payment charges and accounting fees from the outset, is an extra plus. The computer inquiry and credit management for consumers is already charged.

But the beautiful new home loan Bargain World has hooks. Consultation is in there with such “special offers” no. Anyone who decides to direct business to quickly click of a mouse, has basically already know, looks like its financing concept. “New to this field should not be uninformed plunge into the online process,” warns Re. On the computer there is no comparison, the hard terms explained, illustrated or alternatives computer models shows also give experts Stiftung Warentest consider. Questions must often be made by e-mail. Prompt responses are not guaranteed. All who hear the first of effective interest and principal should first undergo a consultation with a consumer organization, before they venture out on the floor in the anonymous network.

Also complete the home loan application on the screen is far from easy way providers like to emphasize. “Have patience” is for the partial rigid masks and cumbersome forms “is needed to confirm return. Who wants a standard financing will get with the automated processing of home loan applications, but ultimately only a few problems. The search engines of credit brokers and banks within a few minutes picking out the offers that are relevant for the key data entered by the customer in question. Before a transaction is authentic, the customer first must submit documentation such as payslips and equity certificates by mail.

For complicated financial plans and special requests to increase the number of computer programs from Internet providers, however, already far in advance. Another sticking point: go online specialists at their credit offers in the rule not to public funds of countries that would be in addition to certain homeowners in there, such as return means.

Online mortgage trend

In spite of all reservations to keep consumer associations the booming market of online mortgage lending for highly viable. Currently, only one percent of all home loans in Germany, settled over the Internet, Stiftung Warentest. Back in 2004, the market share according to an estimate by Forrester Reserach “have risen to around 15%.

Financial expert Barbara considers it worth going back to work themselves with the online offerings. The clearer the ideas of their own funding concept, the more good the anonymous credit provision. It is advisable also to participate in a neutral mortgage seminar or a personal individual consultation, in each case at a local consumer organization. “It is also his offers – whether of bank or online – can tap off with us and take a closer look,” said the expert, Düsseldorf.

The mortgage calculator is suitable for complex calculations and prepare a detailed mortgage amortization schedule, also taking account of unscheduled.

The mortgage calculator allows very wide variety of calculations for mortgages and other annuity.

The online computer determines from the input data either the home loan amount, the amount of the rates, the interest rate, the initial eradication, the term, the remaining debt or the annual special repayment.

From the list of input parameters are two sizes to choose which are to be calculated. All other indicators should also be determined. This allows very flexible, the computer calculations.

The frequency of payments you can choose between monthly, quarterly, half yearly and yearly.

The level of rates is kept constant over the entire period, so that the principal portion increases contained in the course of time and the interest portion decreases accordingly.

The interest rate can either be used as nominal or effective annual interest rate specified or calculated because no case of non payment of annual rates, these two rates coincide.

In addition, a mortgage calculator allows the integration of annual unscheduled, each made at the end of each year.

The data also a detailed repayment plan is created in which all payments for interest and principal, and unscheduled be clearly displayed. The amortization table shows this either on annual or monthly basis the progress of the debt and cash.

For each year or each month of each old debt, paying up to shares to interest payments and the new debt is called.

In addition, the annual percentage rate (IRR) is calculated, which is an important benchmark for various loan quotes of importance.

And a final charge for the loan can be considered, which is immediately to assist in loan disbursement and directly influences the effective annual interest rate.

In addition, a mortgage calculator allows to take into account an initial grace period in which the installment payments are initially exposed. For this purpose, interest earned lead either to an increase in initial debt and therefore How to translate in the repayment rate or to be paid separately.

A mortgage loan is almost always a very long-term exposure in the form of repayment for the borrower dar.Daher is precisely in this area all the more important that you have to offer a favorable decision, that is for a mortgage loan, which includes low mortgage rates. Even a few tenths of percents can make at the relatively high loan amounts large differences in the load. To compare items can and, in addition to the various components of the loan, such as information, for example, interest amount, principal payments or the amount the rate can be offered by the use of various mortgage calculator that will be offered online at various websites to use. It is precisely in the mortgage calculator is a small computer program that is based on credit data, loan amount, term, interest rate and repayment. In entering these data, the user can calculate and display can be, what will be the loan rate for the mortgage loan or you can also can create a complete interest rate and repayment plan.

The calculators are usually provided free of financial or consumer web site, and enable comparison of offers as well as the identification of data and numbers. In practice, the mortgage calculator is used most often to calculate the expected loan rate can be. If you enter for example the following data in the online calculator, type: Loan amount of 100,000 €, the rate of four percent in early repayment of one percent, we obtain the result that the monthly rate payable is € 416.66. This application of the mortgage calculator is one too easy of use, because, as already briefly mentioned, you can also make full repayment plans are calculated, that is what is finally due for example to a repayment period of ten years is. The mortgage calculator can be used not only by consumers and individuals, but also the bank employees use the possibilities of these computer programs within their business application programs and the mortgage interest rate calculator to often.

Your current mortgage rate is 3.25%, savings rates are below one percent: After repayment of the mortgage you would be, therefore, the bottom line of 200 francs per month more disposable income. But you must remember that even if you renew your mortgage for two years, increases your disposable income per month compared to 150 francs – because of lower mortgage rates. Because depending on the bank you get a fixed-rate mortgage for two years starting from 1.5 percent: this would damage your budget with more than 50 francs.

Is added that the rental value of your home after the repayment of the mortgage by proposing again fully taxable income. Since I made your records is not clear how much income you pay taxes, I can not tell you how much this affects your tax burden. I suspect that the mortgage interest saved not too much was left.

My conclusion: For you, it is hardly worthwhile to pay off the mortgage. Above all, remember you must: Refrain from, 000 francs are left with $ 100 in your account and you can do what you want. I assume that you are comfortable with the pension and pension and pay the mortgage easily. Their savings would be freely available money. Give it a try, to enjoy with her husband’s life.

But even if you pay off the mortgage now, you should need not to worry. The fact that you “get more money from any bank,” is slightly exaggerated. “My” Kantonalbank (Basler) issues such as mortgages “in every age” after the “overall situation” of the customer. The amortization of the mortgage could indeed “make sense”, but sometimes an increase in the mortgage would be advisable (for example, tax point of view) and make “no greater risk to the bank” dar.

Meanwhile, as for some services have a four before the decimal point. The fear of national bankruptcy in the euro zone also makes the ten-year government bonds and mortgage bonds of comparable rise, where the conditions are based on mortgages. Pfandbriefe are collateralized with home loans, bonds. With each Rettungsakt as recently for the banks in Ireland, also increase the potential burdens on the Federal Republic. Thus, the mortgage bond yields Deka-Bank and regional banks of 2.44 percent in late August and have risen to a high of 3.19 percent. This is an increase by 0.75 percentage points in just under three months, an unusual development for the interest rate market.

Rising interest rates increase the cost home loan for 10 000 €

“The low point in interest rates is over,” says Kai Oppel from the mortgage broker company Mortgage Discount. Three months ago, took Comdirect and the credit intermediary Interhyp only 2.95 percent effective interest rate for a period of ten years if the customer had brought at least 50 percent equity. Meanwhile, must be paid at the Comdirect Bank 3.43 percent and 3.40 percent interest Interhyp. This makes the construction financing with a home loan of 200 000 € over a period of ten years, more expensive to just under 10 000 €.

Now, property developers and buyers have to re-adjust to rising interest rates. Max also fall by the FMH financial advice will not rule out that rates have reached their low point. “Our index for a ten-year mortgage has risen since the end of August from 3.40 to 3.53 per cent currently,” says Herbst. The index records the average interest rate on a mortgage of the property by 60 percent. Most builders, however, can not afford 40 percent equity and have to pay higher interest rates. So taste a ten-year home loan of EUR 150 000, in which 20 percent equity allowed, at Commerzbank 3.76 percent and the Hamburger Sparkasse 3.94 per cent interest, as is evident from the comparison of the FMH-building home loans financial advice. The best offer comes from the Alliance with an effective high interest rates of 3.53 percent. The importance of the banks is now possible level of customer equity, the offer shows of the Sparda Bank Hamburg. With 50 percent equity, the customer gets the very low effective interest rate of 3.12 percent. If he is only 20 per cent equity for the acquisition of the property toward the purchase, he must pay the same 4.11 percent high interest rates.

The risk of rising interest rates will next year

Despite the rise in recent weeks, the interest on mortgages are still favorable. Potential borrowers must not overlook, however, not, as the euro crisis can affect high interest rates. “The more-land for € solidified the image of a quasi-fiscal equalization in the strong to weak countries, money is transferred, the stronger will be the pressure on the German long-term interest rates,” says Robert Haselsteiner Interhyp. For Germany as Europe’s largest economy would have to bear the largest share. “The danger that we see much higher interest rates in 2011, is not to be underestimated.” This is what the economists of the Commerzbank, yields on ten-year government bonds within one year increase from 2.6 to 3.6 percent. Mortgages over ten years would then cost more than four percent interest. Therefore, it may be useful to secure follow-on investments, the more favorable interest rates. This allows a forward loans are locked in a modest increase to the current conditions. For a loan of EUR 100 000, which must be renewed in 18 months, are currently required in the effective average 4.04 percent interest.

A little hectic, it is every year before Christmas, not just private. Professional also delayed by the holidays – including the mortgage loans: Who would like to get paid this year are real estate loans must hurry, warns Marcus Rex, Director of the BS building loan specialists AG.

End of November, for some banks have the final deadline to submit a loan application-2010s. But: “The last possible date varies from bank to bank,” says Rex. If you want the old year receive only the pure credit decision may be partly until 15 December Time leave. Then there are the loan commitment, perhaps between the holidays. The payment should then but are only in 2011.

Who will draw up operating loans or grant from the KfW, applies to: Until the commitment by the State Bank may take six weeks. It also takes a little longer so because of this credit will not be completed directly through KfW, but always on the bank. Therefore, applies here: note deadlines. For some banks it is expected now until year-end no longer sufficient, and many wanted the complete documentation about the KfW application before December are on the table.

What else is trend towards the end of 2010? Provides information Gawarecki Stephan, spokesman for the building loan agent, Dr. Klein, a “Trend Indicator Home Finance offers: In October, the average cost of financing for first time home ownership has increased since the beginning again. This increase reflects the economic situation. Not only the export, but also the German domestic economy is growing. The more optimistic environment stimulates private consumption and investment. All this results in rising mortgage interest rates.

Loan amount
The average loan size in Germany in October was 145 000 euros to 4,000 euros in the September value (149 000 euros). The background to this: The first signs of a rise in interest rates have been secured, according to Dr. Klein many borrowers in September, especially for larger loans the best interest. When interest rates are now increased, decreased the average loan volume. A rise or fall of three percent, however, lie within the normal range for the average loan size over the past two years.

Eradication rate
The average repayment rate for housing loans fell from 1.95 percent in September to 1.86 percent in October. Because how much can repay a loan each month and will also depends on how expensive loans are. When interest rates rise is less left over to repay, experts know. Compared to the same month last year is now paid off but still significantly more (repayment rate October 2009: 1.6 percent).

Target fixation
Those who want security in the cash flows of its loan should select long lead times. This security is usually paid a higher interest rate – the longer the fixation target of a loan, the higher the interest rate agreed. Rising interest rates increase, then the interest rates for all loan terms. Since nominal interest rates for longer are more expensive than shorter, the borrower eventually decide against becoming more expensive over many years. Instead, they agree on average shorter again set interest rates. And exactly this is currently observed.

Types of loans
The share of short-term loans (“variable”) fell in October to below four percent of all construction loans. As is expected from rising interest rates, it is no longer so attractive to include variable loans.

Also appears that the early fixation of interest on a financing deal not to be as interesting as in September. Therefore, decreased in October, the proportion of forward loans. As the interest rates are rising even more in the future, is the current interest rates, especially for forwards still very promising.

Prepayment penalty: rules against excessive costs
A prepayment penalty is used to replace the bank of the damage which it caused by the early repayment of the loan. This is theoretically the difference between the contractual lending rate and the reinvestment rate at the time of loan termination. Long experience has shown that banks here to be happy and powerful count their losses larger than it actually is. It is often taken as the re-investment interest rate is the yield on public bonds. The law provides however that the interest rate on mortgage bonds – which is higher be made to them.

Advice is often required
Banks must also take into account that the counterparty risk of a mortgage bond is lower than that of an individual borrower. The reduced risk also reduces the damage of the bank, created by the loan termination. Banks must take into account when calculating the prepayment penalty beyond, if possible free bonuses at any stage of maturity were: Then it must be assumed that this would have been used. will also have to assume that the mortgages had been terminated 10 years after its withdrawal from the borrower – that is always possible at no cost.

Banks mighty long for early termination of
Roll over could be so easy if the bank would not be. Will join the cancellation of a loan with fixed-rate and the subsequent new recording of another loan only with a prepayment penalty, the erosion of the expected interest savings substantially. Is terminated without cause, banks can determine the amount of compensation in its reasonable discretion. In contrast to this design have elapsed since the (full) payment of 10 years. In this case, a free cancellation is possible, even if the fixation is longer.

Any legitimate, the termination effective
More favorable termination conditions are present, even if the loan is terminated for a legitimate interest. counts as a legitimate interest for example The sale of the property that serves as collateral. Also rejected the request of the owner to an increase in the loan for the purpose of reorganization is one of the events giving rise to a legitimate interest. Although the bank may not even exist if a legitimate interest of an early repayment charge. Then apply but from the perspective of the borrower favorable rules that are defined by statute and case law.

Prepayment penalty: banks like to count wrong
In calculating the compensation banks must then eg the interest rate on public sector bonds and do not originate from the bond. The interest on mortgage bonds are usually higher, so that compensation fails smaller. Moreover, the institutions are obliged to start from a free termination by the borrower after 10 years. You also need to take in his favor, that all possibilities would have been used to free unscheduled. In practice, banks consider the rules do not always. (Leave) is therefore worth recalculating often!

In general, mortgage or mortgage-secured loans, so-called loans-Ral, finished with a specific fixed interest rate (now often 5 to 15 years), ie a “fixed rate”. During this period interest and principal are firmly agreed, the monthly payments remain constant. But since the end of the fixed interest rate, the bank debt is usually not eradicated completely, it must be renegotiated with the bank, the conditions for the terminal funding.
The former were higher interest rates, you’ll love the borrower, because he pays for his follow-up financing a lower monthly payment – or he agreed to a higher repayment. But the reverse is possible: With higher interest rates, it becomes more expensive for property owners.

Is this your bank hesitant?

From the side of consumer advocates criticized that some banks offer their customers before the end of the fixed interest only slowly and rather unattractive terms for follow-up financing. Reason enough for owners whose fixed interest rate expires soon, also consult early in the competition after a follow-on financing. Also conditions of Internet Direct financiers are sometimes cheaper by a few tenths of points – the result is the buzz that can make over the years a few thousand euros savings. Who is responsible for follow-on financing, however, changes the bank has to bear additional costs, once for a truly new mortgage in the land for the new bank, or just for the assignment of mortgage from the bank to the new date.

With support from the St. Galler Kantonalbank organized the FDP Uzwil information regarding the region development in building a house and interest rates. The second part presented questions about the budget Mayor 2011th

For once, this was the budget of the municipality Uzwil the FDP is not in the foreground. To the General Assembly on Monday President Ralph Wyss, the emphasis was placed on the house construction and renovation and development of the interest rate front for the mortgage. The budget for 2011, the village was subsequently treated in a brief question and answer session to address the mayor Werner Walser.

No interest rate increase for housing construction in sight
For competent information on regional development of construction activity and interest rate trends as well as on financial issues in house construction Uzwil the FDP had invited two specialists of the St. Galler Kantonalbank Uzwil. Bank manager Bruno Colle and customer service Daniel Schmidli gave an overview of current developments and funding recommendations for investments in housing construction.

Bank manager Bruno Colle pointed to on the basis of statistics that interest rates on both variable and fixed mortgage evolved in a similar context. Appealing for a building decision today is the deep interest rate by 2% for fixed mortgages, while the variable rate was higher than 2.5 percent. On the situation regarding construction activity is given by Colle for the region a peaceful development. Was clearly visible but the rising price of houses, which are the regional but significantly lower than the Swiss average. Colle further pointed out that it is worth thanks to contributions also support renovations. Regarding interest, had a low risk of inflation in sight, but a moderate rise in interest rates in 2011 is expected.

The St. Galler Kantonalbank operates according to customer advisor Daniel Schmidli a conservative financing. Thus, the first mortgage to a maximum of 66.6% invested, with the second mortgage provided for repayment could take up to 80%. Observed after Schmidli further that the sum of interest payments, repayments and maintenance at the property owners a third of their income does not exceed. Longer term, with interest of 5% for the 1 Mortgage to be expected. For a balanced interest burden would be discussed via staggered mortgages.

Uzwil with mediocre control force
To questions from the audience, Mayor Werner Walser presented regarding the 2011 budget, which is coming up for debate. Walsh pointed out the good level of ability to pay in Uzwil, which lies just below the cantonal funds. In Uzwil there are certain burdens on average, they included the schools and sports. The school attested Walser but a highly cost-conscious attitude. Under the cantonal means moving the social field, in managing the Uzwil show even anorexic, how Walsh put it. This will be whether the growth and the increased duties will soon have to change again.

Transport development was Walser noted that congestion in Uzwil also occur in the future propagated. Tempo 30 traffic calming will also continue. Uzwil was about to pass the Gupfenstrasse but in the best locations for the relief center. As the current focus Walser called the centralization of the administration.

Concluding, the party president Ralph Wyss down again once the duties of the parties that they were working not only to promote politicians, but also for the control of the policy. A membership can be based on the passive contribution support the current policy of the FDP.