The mortgage calculator is easy to understand and clearly structured. At first, enter how much the favored object costs in the appropriate field. A loan amount must also be specified. To calculate this, the prospective creditor adds the additional costs to the purchase price. They are made up of:
Land Registration Fees
notary fees
property transfer tax
if applicable, expenses for brokers
Now deduct the available equity from the sum of the purchase price and ancillary costs. The home buyer enters the result in the Loan Amount field. So that the prospective borrower can plan with fixed mortgage interest rates for several years, he also sets a debit interest rate commitment of 5 to 30 years. You don’t have to worry about the amount of the debit interest – the mortgage calculator automatically calculates a value. The prospective borrower also has the option of setting the date of the first installment.
As soon as this basic information about mortgage financing has been stored, it is time to choose a suitable repayment. Depending on personal preference, the home buyer chooses one of these repayment options:
Amortization rate (default)
Specification of the monthly rate
Full repayment with fixed interest rate
Full repayment in xx years
no repayment (repayment suspension)