Even small interest rate differentials can have a huge impact on a real estate loan. The large loan amount and the comparatively long term lead to the fact that even a tenth of a percentage point in the long run can lead to several thousand euros in additional interest burden. Therefore, it is even more important to complete the real estate loan as cheaply as possible or at an attractive interest rate.
Cheap real estate loans are found primarily through an interest rate comparison
However, certain influential factors also have a noticeable effect on the loan interest rate, which is why they should be reviewed in the context of the search for a loan. This applies in particular to the loan: Which interest rate is set by a bank depends on the respective mortgage lending limit. Under certain circumstances, the loan amount is very close to a mortgage lending limit. In such cases, it may be worthwhile to slightly reduce the amount of funding so that the limit is different and the loan interest rate is appreciably lower. Therefore, one should specifically ask about the mortgage limits.
Minimum loan amounts
Incidentally, the same applies to minimum loan amounts: as soon as a certain loan amount is reached, the interest rate improves. Many banks draw a limit of 200,000 euros. Who accepts this amount as a loan amount, gets a better interest rate than, for example, at 199,000 euros. Also in this regard, you should specifically ask to optimize the real estate financing, if necessary. Although the inclusion of a higher loan amount contradicts the first tip to achieve a better mortgage lending limit, the bottom line is that it always depends on the individual case anyway.
Incidentally, an increased loan amount does not harm the financing. If the interest rate is cheaper, it is worth taking this step: By special repayment, the excess amount can be repaid quickly later.