Useful to investigate this further with a mortgage calculator
If you are going to get a mortgage, it may be useful to investigate this further with a mortgage calculator. You will find this at the bottom of this article. First, we provide an explanation of what to expect with this mortgage calculator. The purpose of it is that it will help you find the cheapest mortgage. It is not enough just to look at interest and fees. Other factors are also important.
Calculator calculates the effective interest rate
In this calculator you first select a security class (60% or 80% of market value) and enter the loan amount. The calculator calculates the effective interest rate for each lender, based on the loan amount you enter. At the same time, the monthly installment amount is calculated (calculated as annuity loans).
All the banks in the country are thus reviewed. Based on them, a selection is presented.
Interest rate list should always be comparable
The interest rate list should always be comparable. You will not find a mix of “old” and “new” interest rates. Some banks offer a given interest rate as long as you meet the collateral requirement and possibly a certain loan amount.