Financing your own home is always an extremely important issue, because once the house or apartment has been paid off, there is no longer a monthly financial burden, which is payable for a rented apartment or generally for a rented property. In general, consumers have several options to make their dream of owning a home come true – however, not all options are suitable for every customer, and the comparison shows that some banks and savings banks pay unnecessarily.

Full financing without equity

Full financing without equity

This is an interesting topic for many consumers, since they have no saved capital and, if they want to finance property, full or 110% or 120% financing is necessary. Many banks are already shaking their heads at the cautious question of whether real estate loans without equity are generally possible.

In principle, however, real estate financing without equity is neither riskier for the bank / savings bank nor for the borrower itself than a real estate loan that is granted with equity. This is also how various online credit agencies. The creditworthiness of the borrower is decisive, and one must also note that full financing is more expensive in comparison.

Building society contract and building society loan

Building society contract and building society loan

The home loan savings contract is an option for people who have a fixed construction project but have not yet saved any equity. For a certain period of time, capital is deposited in a pot with other borrowers until you are entitled to receive the credit plus a relatively cheap home loan.

Building savings is a good option for people who need planning security, wait a few more years with their construction project and do not want to buy or build a property directly, so they have enough time to go through the savings phase in building savings in peace and quiet.

The so-called rent purchase is always an issue – you move into the property during the contract period and pay a monthly rate, which is usually higher than the local rent. The property remains in the hands of the seller until the end of the term, and the property only changes hands once the high final rate has been paid.