Calculate loan: useful online calculations for borrowing.

Need a loan? Calculate first!

Need a loan? Calculate first!

It’s all about numbers when taking out a loan. Now you can of course take out a loan without delving into the details – but it is more sensible if you know very well what you are doing. Only then will you be able to make the optimal decisions for the loan you want to apply for.

Those details revolve on the one hand about the characteristics and properties of various forms of borrowing money and on the other hand about the numbers. You can rely on what an advisor or bank offers you for those figures.

Calculate how much you can borrow

Calculate how much you can borrow

First of all, it is useful to know the maximum amount that you can borrow. Lenders all work with the same loan standards from the Association of Lite Lender Company (VFN). Our calculation of your maximum loan is based on the same loan standards and therefore gives you a very good idea of ​​what is possible for you.

Calculation of your monthly charge

Calculation of your monthly charge

It is of course nice to know what you can borrow to the maximum – for your monthly budget it is much more interesting to consider what you have to pay for it per month. You can easily calculate the monthly charge with our monthly charge calculation. You also have to enter an interest rate – you can easily find that in our loan comparison. Then take a good look at the calculated monthly charge and whether you can pay it over the entire term.

Find out what you pay in total for your loan

Find out what you pay in total for your loan

Such a monthly charge often looks very manageable, as if borrowing money does not cost much. That is why it is good to also take a look at the total cost of the loan that you have in mind. If you subtract the amount to be borrowed from that total cost, you know exactly how much you pay extra for your expenditure. That could possibly be a reason to continue saving until you have the necessary amount together.

Calculate how long your loan will last

Calculate how long your loan will last

With a personal loan you agree on an amount and a term, which results in a monthly amount. You can also calculate the other way around: you have an amount that you want to pay per month – how long do you take to pay off the loan amount that you have in mind? You can easily check this with our term calculation. This way you will find out how long it takes before your loan will be fully repaid.

Rapid loan with immediate approval for trainees

After graduating from school, young people begin a completely new phase of life with vocational training. And if the parents lack the financial means, the trainees will have to make some expensive investments – for example for a driver’s license, their own vehicle or for moving to another city. The training allowance is generally not sufficient to cover these costs. And even if child benefit and the training allowance are not generous, all that is left is for the trainees to take out a quick loan.

Trainees: An interesting clientele for banks and loans

Trainees: An interesting clientele for banks and loans

Basically, apprentices are an extremely interesting target group for banks, which they naturally want to retain for as long as possible. That is why trainees usually receive checking accounts at extremely favorable conditions – of course, the credit institutions have the hope that they will be able to sell the apprentices further financial products. When it comes to a loan, negotiations with the bank are not that easy. Because a loan to trainees is linked to various criteria. The trainees must be of legal age and reside in Germany. You should also have no negative entry in the credit bureau. Furthermore, the trainees must be able to prove a regular income – usually a minimum income of 600 euros is required. Child benefit and German state funding do not count as income for the bank.

The trainees can therefore only show their training fee. The living situation also plays an important role. The reason: If the trainees still live with their parents, there is already a large cost factor, namely the rent. In this case, the financial scope of the trainees can be sufficiently large to be able to service the loan installments, especially if the sums involved are not too large. For example, the cost of a driver’s license or a used car can be financed through a loan. In order to increase the chances of getting a loan, the trainees should in any case draw up a solid budget, taking into account all income and expenditure.

Better chances of getting a loan with immediate 

Better chances of getting a loan with immediate 

Under the following link you can find which online loan brokers with immediate approval according to europa-web.de are also suitable for trainees (and other “problem groups”). If the trainee takes out a loan together with a co-applicant with a good credit rating, the chances of a positive loan decision by the bank not only increase. In this case, the trainee usually receives the loan on better terms. (For details, see the section “Is there a loan with an immediate approval even without a credit rating?” On Europa-Web). A co-applicant offers another advantage for the bank compared to a guarantor who also has to step in if the trainee cannot pay the installments: the co-applicant has the right to have a say in the use of the loan amount. Parents are, of course, the ideal partner for trainees. The trainee can also apply for the loan with his partner. This person must provide proof of a regular income, be in an unconditional employment relationship and of course have successfully passed the probationary period.

What about a loan during the trial period?

During the probationary period, trainees usually have a poor chance of getting a loan (at least if they want to apply for it themselves and without a co-applicant!). On the contrary; many credit institutions even require that the employment relationship must have existed for at least six months – even if the trial period is shorter. Incidentally, the trainee has no chance of getting a loan in the first month of work. The reason: he is not yet able to provide proof of salary.

Housing Loans with 0.98 and 0.95 Interest Calculation

Announced that some housing banks will calculate housing loans with 0.95 interest rates and housing loans with an interest rate of 0.98 for housing projects.

It is announced that the remaining 0.8% of the banks will be taken from contractors or companies. The upper limit of the mortgage loan was set at 500,000 thousand USD. In this way, it is aimed to host narrow-cut families.

Banks that calculate housing loans with 0.95 interest rate

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We searched for banks that calculate housing loans with 0.95 interest rate and housing loans with 0.98 interest rate for you. And we wanted to give you an example of mortgage loan rates of 0.95 and 0.98.

There are some cost items when getting a mortgage loan or calculating. As you know, housing loans are exempt from GFIC and GFIC tax items. Other mortgage loan cost items are listed below.

  • Mortgage Fee
  • Appraisal Fee
  • File Cost
  • Life insurance
  • Residence insurance
  • Compulsory Earthquake Insurance (TCIP)

Banks keep their interest rates constant

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Since the banks keep their interest rates constant, the mortgage loan cost items given above should be taken into consideration. The cost items for each bank are different. Let’s give you a few examples of these differences.

Honest Bank Housing Loan?

  • Mortgage fee: 129 USD including VAT.
  • Appraisal fee: 650 USD.

Thrift Housing Loan

  • Mortgage fee: 354 USD including VAT.
  • Appraisal fee: 950 USD.

Halk Bank Housing Loan?

  • Mortgage fee: 150 USD including VAT.
  • Appraisal fee: 650 USD.

Business Bank Loans?

  • Mortgage fee: 148 USD including VAT.
  • Appraisal fee: 975 USD.

Other costs belonging to banks are the file cost, life insurance, home insurance, and compulsory earthquake insurance (TCIP). These cost items vary according to the age of the person who will get the mortgage loan and the age of the building.

There is not much information or an accurate source of these costs on the Internet. You want to take them directly from your credit or appropriate (agricultural bank, trust bank, community bank, job bank) individually read through these four banks that we need to find the cheapest housing loans.

It guides you to get a bit of mortgage fees and appraisal fees. We must follow such campaigns.

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We advise you to read our previous article titled Best Affordable Home Loan Calculation Interest Rates. You can browse the topics that may be of interest in our Mortgage Credits category. If you want to know more about housing loans just keep in touch with us.

Apply for a loan: how does taking out a loan work?

 

Borrowing money, how does it work?

Borrowing money, how does it work?

If you want to apply for a loan, we advise you to compare loans first. The interest rates that lenders charge vary widely. At Huckleberry Finn you can compare and apply for loans.

1. What should you pay attention to when applying for a loan?

1. What should you pay attention to when applying for a loan?

  • Can you borrow the desired or required amount?
  • Which loan suits you?
  • Acceptance criteria – when will you be accepted for a loan?
  • What is the interest rate?
  • Are you dealing with closing costs / advice costs / insurance with the loan in question?

Can you borrow the desired or required amount?

Before applying for a loan, it is wise to first calculate whether you can borrow the desired amount. This prevents you from being rejected after you have applied for a loan, for example because your income is insufficient. Click here to calculate your maximum loan.

Which loan suits you?

There are different forms of borrowing money, the difference being the interest rate, but also the flexibility to take back repaid amounts or to repay a loan early without penalty. Determine which loan suits you.

Acceptance criteria – when will you be accepted for a loan?

Not everyone is eligible for all loans offered. For example, lenders look at things like your type of employment, age, and living situation to determine if they want to provide you with a loan. At the top of our comparisons, you can first enter this type of personal data. Based on this information, we show loans for which you are eligible. This increases the chance that you will be accepted.

What is the interest rate?

When applying for a loan, you naturally look at the interest. It determines how expensive a loan is and how long you are attached to the loan. Do you opt for a revolving credit? Check annually by means of a loan comparison whether the interest you pay is still in line with the interest you should pay elsewhere. Is there a difference of more than 0.2%? Then switch.

Are you dealing with closing costs / advice costs / insurance?

Are you considering taking out a loan through an intermediary? In that case, make sure that they do not charge any consultancy, closing or brokerage costs for taking out the loan. This is prohibited by law. However, an intermediary may charge costs if you also take out insurance with the credit. Do not just put a signature under an offered insurance, but first ask yourself whether you need the insurance, what the payment is, when the payment is made and whether it is the best product.

2. How fast is applying for a loan?

2. How fast is applying for a loan?

If you apply for a loan via Huckleberry Finn, you usually receive a quote in your mailbox within 1 working day. The lender may have additional questions. In that case they will contact you by phone. This also usually happens the same day.

3. How quickly can you dispose of your money?

How quickly you have access to the money when you apply for a loan differs per lender, but you also have partial control over it. If you return the necessary papers as soon as possible after receipt of the loan offer or loan agreement, you can usually have the money within a week.

4. What documents do you need to provide when applying for a loan?

It differs per lender which documents you need when applying for a loan, but what you almost always have to provide are: income documents (pay slip for example), copy of your ID and bank statement (print of internet banking).

5. Can you request multiple loan quotes?

5. Can you request multiple loan quotes?

You can request multiple loan quotes. It is even wise to request two, for example, so that you can compare well. However, you can already do an important part of the comparison on our website. It doesn’t make much sense to request more than two quotes.

A loan in training is an installment loan that can be used for any purpose

Banks offer a variety of different standard loans for all customers. However, there are also loans that are tailored to a specific customer group. This also includes the loan in training, which is referred to as student loan or training loan. A loan in training is an installment loan that can be used for any purpose. The particularly favorable conditions are particularly interesting for this type of loan. The trainee receives a very low interest rate on a loan for the training. These loans are mostly so-called “blank loans” that are granted without collateral.

What loans are there as a loan in training

What loans are there as a loan in training

In addition to the installment loan, the banks also offer training loans in the form of overdraft facilities or general loans. However, these are used much less frequently. The credit line is a loan of a fixed maximum amount, which can be used in certain parts or in full.

In addition to the banks and savings banks that can be used for a loan in training, there is also government funding that can be managed through Intrasavings Bank. These are known as so-called educational loans.

The following loans are generally offered to trainees:

• Bank installment loan as a loan in training
• Special credit lines
• The overdraft facility as a loan in training
• State funding through a loan from Intrasavings Bank

What are the requirements for a loan in training?

What are the requirements for a loan in training?

A basic requirement for a loan in training is the legal age of the borrower. Because these people are so-called creditworthy customers, which is not the case with underage trainees. Another important prerequisite for a loan in training is sufficient creditworthiness or creditworthiness, which is certainly not guaranteed by a trainee salary as described on the website. The young customer’s creditworthiness is determined by Credit Bureau information and income or training allowance. Banks are often required to provide a surety.

When it comes to government funding within the framework of a loan during the apprenticeship period, this looks somewhat different. Because the approved loan amount only has to be repaid after completing your studies, with a waiting period of up to two years. This gives the trainee the opportunity to fall back on the sum in order to cover the running costs for training and living without having to think about repaying the loan. Because once real money is earned, the rate and the low interest can be repaid without any problems.

Taking out a private training loan – what are the options? |

Trainees who no longer live with their parents know the problem all too well: they earn their own money, but they cannot make big leaps with it. If there is an unforeseen issue such as the repair or purchase of a washing machine, it can hardly be handled with the meager trainee salary.

These and similar costs, for example for moving, can be paid by trainees with a small loan, which is not so easy to get during the training. On the other hand, the situation is different when a loan is taken out by credit banks to finance the training. The reason is that the rather low salary is not really a security.

Do not rush with the trainee loan

Do not rush with the trainee loan

In general, trainees should think carefully about whether they really want to take out a loan during their training. Because if the expenditure is higher than the income, young trainees run the risk of falling into the debt trap because they may not be able to repay the loan.

A training loan offers this possibility

A training loan offers this possibility

Above all, the graduates of secondary schools are faced with the problem that they must be able to finance an academic education – if they aspire to it – first of all. In most cases, they therefore work alongside their studies, apply for a student loan or a student loan, which is not a problem in most cases. However, there are also various non-academic training courses in which the trainee must first invest money. This applies, for example, to prospective pilots, who can generally take advantage of a financing program in the form of a loan from the respective airline, which they have to repay after their training.

If this route is not possible, the trainees have to finance their training elsewhere with a loan, but this involves a certain risk. Because if they don’t complete the training, they still have to pay back the debt.

A training loan from the house bank?

A training loan from the house bank?

The first way for borrowing naturally leads most trainees to their house bank. However, before borrowing, you should inquire about the conditions that apply to a personal loan. Because very often the conditions with competitors of the house bank or with an online bank are significantly cheaper. However, borrowing is only worthwhile if the conditions are significantly better. If the differences are only minor, borrowing from the house bank is recommended. The reason: Here the borrowers have a direct and personal contact person with whom they can also negotiate directly if difficulties should arise during the day of the loan.

Home loans: the rates offered by banks always lower

 

Home mortgage rates continue to fall, a trend which is partly due to the accommodative policy of the Best Bank.

Back to school is explosive for real estate rates. In September, the banks went on the offensive again, applying significant reductions. In this context, the renegotiation of credit finds interest. It remains to be seen how far the drop in mortgage rates will go.

 

Mortgage Boosted by Rates Below Inflation

home loans

The durations the most significant decline over 20 years. In its last study published on August 29, the Central Finance specifies that these borrowing conditions are exceptional in view of inflation which reached 1.80% in 2018 and should settle at 1.20% this year. With a monthly payment of 950 dollars and a monthly salary of 3,500 dollars which would progress at the same rate as inflation, at 1.50% on average over 5 years, a borrower could thus see his debt drop from 27% to 24%.

The Best Bank unveiled new measures to support the economy on September 12. It reserved the possibility of lowering its rates once again and abandoned any specific horizon to raise them. This announcement shows her determination to support a slowing economy.

 

Rates fall again and again on mortgage loans from 10 to 25 years

Rates fall again and again on mortgage loans from 10 to 25 years

After a fairly calm month of August, mortgage rates continue to fall, whatever the duration and the profiles. The largest decreases can be seen in loans over 20 and 25 years.

According to broker Milerite Finance, average rates are 1.22% over 15 years, 1.27% over 20 years, 1.52% over 25 years. The best files can hope to benefit from a rate of 0.56% over 15 years, 0.68% over 20 years, 0.85% over 25 years. For a few weeks, the rates of assimilable Treasury bonds (OAT) which serve as a benchmark for banks when calculating mortgage rates, have been below 0%, around -0.40%. Against this background, rates should remain at their lowest level.

 

Falling credit rates: the perfect time to renegotiate your loan

home loans

Some profiles have every interest in taking advantage of this lower rate to renegotiate their mortgage. Many borrowers seem to have already seized this opportunity. Indeed, the broker VineSpan Financer notes that requests for renegotiating credit have increased by 40% since March compared to summer 2018. It is now possible to renegotiate loans obtained in 2016 or 2017 for less than 1 %. The big winners are those who have chosen short durations, who can benefit from new rates at less than 0.5% over 7 or 10 years.

However, not all borrowers have an interest in renegotiating their credit. This operation is only interesting if the difference between the old rate and the new rate is at least equal to 0.7%. To successfully renegotiate a loan, you must have more than 100,000 dollars to repay and be in the first third of your credit life. It is also important to take into account the prepayment penalties and the guarantee costs, which correspond on average to 3% of the capital remaining due.

 

Will the exceptional 1% rate excluding insurance be the new standard?

Will the exceptional 1% rate excluding insurance be the new standard?

The real question is whether the decline in property rates will last. Brokers are optimistic on the subject. According to Henry Yarns, Deputy Managing Director at Cream Lending, in view of the political announcements and the market trend, “the banks should align themselves with rates of less than 1% for durations of less than 25 years”.

Esmael Curtis, communications director at Milerite Finance, adds that the banks’ scales could drop again in the coming weeks following the Best Bank’s announcements. “The rate at 1% could become the norm in the coming weeks,” according to the broker’s forecasts.

According to Slyverster Laferre, President of the Central Financing, the measures to support the economy announced by the Best Bank “should prove to be very accommodating and move in the direction of the further reduction in rates”.