Friday, 29 January 2010

Savings contracts and home finance

If you want to realize the dream of home ownership, we can take out a mortgage lending. There are different forms and, depending on personal circumstances and needs, one should choose the appropriate one.

The most famous building is the construction loan agreement. It ensures that the entire property will be paid immediately and can be more favorable financing. The contract period is usually 30 years for repayment and the rates remain constant during this period. Even interest rates are completely safe and can not change over the long term. Here it does not matter which model or one can decide in which house. A building loan contract, however, requires a careful planning in advance and securing finance. You can connect the building loan contract with an advance loan, if one does not already have savings agreement.
Savings contracts and home finance

All mortgage loans can be secured even with a grant of protection or term life insurance. In the event of unemployment or an accident you must not make the house. Nothing happens, so you can use the protection as an investment. Especially if one wants to use the property as an investment, it is suitable financing. Here, you pay no current applications for the eradication, but only the agreed interest. All debt remain constant over the life and leased real estate can be deducted over the life as professional expenses. Should a disaster happen, so members are covered with. Ill the main earner in the household, a financial safe-can step in and protect the contract.

The construction financing, with continuous eradication is another variant in the field of mortgage lending. The loan will be repaid while the same amount again, together with the respective contributions from an interest and a repayment component. During the term of reducing the share of the interest and principal payments may increase. Initially, it is possible that the elimination of only one percent. Again, a term of 30 years is not uncommon.

Do not forget the costs, if you build, for example, the floor plan can be characterized. And if you then have a ready-made object, you may need a professional real estate in the form of a 3D visualization exposés.

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