Then there is the moment that you have been hoping for so long: that nice apartment in the center is finally for sale. You call the broker and … your world collapses. Well, a home costs a lot of money. But don’t worry, because we have good news for you. You can take out a loan for these types of purchases. In fact, it is best to borrow as large an amount as possible, because the interest on a loan has been very low for a while. Even with a modest income you can spread a home loan over as many as 20 or 25 years. And by performing a mortgage loan simulation you can find the cheapest monthly installment.
A home loan is usually the largest expense you make in your life. It is also the smartest loan that you can take out. It is a clean feeling that the residence is now yours, all yours (okay, also a bit from the lender until the last installment is made. And as the years go by, the property becomes even more valuable. the biggest advantages of being a homeowner is that your money is safely invested in stone, you can often also borrow to do repairs to your house, and there are currently all sorts of premiums from the government for double glazing or insulating the roof. to take out a loan as cheaply as possible.
Every lender nowadays has a simulation tool on the website that you can use to get started. With a mortgage loan simulation you only have to enter a few details to know what your monthly payment will be within a few seconds. The money you borrow is the same everywhere, but there are still some differences between all those providers when it comes to interest and borrowing costs. The Belgian government obliges the providers to also include this. This way you know where you stand and you can judge for yourself whether the size of the loan suits you.
First you have to view your own income and expenses. Your partner’s income may also be included. The loan amount may generally not exceed 40% of your income. Then you view the expenses, such as rent / housing loan, water, gas, electricity, car use, insurance, food, hobbies and so on. Subtract the expenses from the income and then see how much is left. You could therefore pay this amount in principle. A bank also calculates the risk that they owe you.
So first do a mortgage loan simulation to find the cheapest home loan. If you do not have time to compare the many lenders, then you will see here a number of providers with home loans at competitive rates – completely adjusted to your situation. You can click through to their websites and see for yourself who is the best for you. So you do not have to search long to find and take out the cheapest loan.