One of the most important prerequisites for a loan is sufficient equity capital, eg the freelance share of the “Intrasavings bank Entrepreneur Loan”.
Can not you already pay your dream home without equity?
Can not you already pay your dream home without equity? However, financial service providers are increasingly being asked if they can manage without equity. What about equity? Equity – that is the money that the customer or acquirer intends to contribute to the financing. This has the great advantage: If you have equity, you have less to borrow.
For example, you can agree on an increased repayment installment and pay off the loan more quickly. Who can you co-finance without equity? If you do not have equity, you should definitely have a good salary and a permanent employment contract. How can I manage without equity? If you want to refinance your property without equity, you can in principle choose between two options:
Additional costs such as land transfer tax, land register and notary fees are borne by the owner or acquirer on their own. 100% debt financing thus opens up better opportunities for equity-free debt financing. What are the arguments against a financing option without own funds? If you do not contribute your own funds, the credit risk for the battery increases. In the case of equity-free financing, it is essential to estimate your monthly working capacity in a realistic manner and to optimally plan a financing buffer.
Experts recommend anyway an equity ratio of at least 20 percentage points of the cost price. Anyone who wants to maintain an equity-free financing option, should also consider the conclusion of a home savings contract – provided, of course, there is enough financial room for maneuver. You as a building saver deposit a reserve for the maintenance of your property, get a favorable interest and can make a special repayment with the loan after the austerity phase if necessary.
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