The real estate loan is free of discounts and closing fees and must be repaid in constant monthly installments. Unscheduled repayments are permitted special payments to your mortgage lender. With unscheduled repayments, you can save a lot of money, because over time you will pay a lot less interest on your building loan than if you only pay back regularly. In order to reduce credit debt as quickly as possible, it makes sense to agree on the possibility of special payments. Equipped with interest and repayment plan, unscheduled repayment & interest rate change, remaining debt, total term, full repayment.
Pay attention to unscheduled repayments of real estate loans.
all key credit indicators are recorded in writing in the loan agreement. In addition to the loan amount and the loan interest rate, this also includes the monthly repayment rates and the credit term derived from them. Due to the large loan amount, the maturity of real estate loans is often twenty to thirty years – a period in which the borrower’s financing scope can change.
If changes in salary, bonus or inheritance result in excess capital being available, it often makes sense to invest this in a prepayment of the loan and to trigger a so-called special repayment. The agreed payment can either be part of the loan amount not yet due or the full repayment of the loan.
As part of rescheduling or follow-up financing, borrowers can make unscheduled repayments after a fixed period of ten years without the house bank being able to charge an early repayment fee.
Calculate special repayment
On the basis of these fees, consumers should always calculate exactly whether the special repayment is worthwhile before making a special payment: A credit comparison can quickly determine how high the interest savings are in relation to the expenses for the special repayment. This calculation is particularly useful if Astro Finance does not allow the borrower to repay the loan free of charge, since an additional fee is payable in addition to the early repayment for these special payments.