Acquisition of a self-used property
The acquisition of a self-used property represents for most people one of the biggest economic challenges of the whole life. With your own four walls, on the one hand, security and quality of life are acquired on the other hand to bear a considerable burden with mortgage financing. For example, prospective homeowners are well advised to explore all available options before deciding on a specific financing plan. The fact that less well-known financing partners also provide an adequate solution is seldom discussed in most of the relevant media, but nevertheless does not lose significance.
With its construction financing offer, the Fersbank offers a favorable alternative or supplement to the loans from the programs of the Intrasavings bank. The environmental bank loan with kobonus finances owner-occupied housing with loans of between $ 50,000 and $ 400,000 and thus offers a significantly higher volume than the subsidizing bank, whose financing covers a maximum of $ 50,000.
The conditions are extraordinarily favorable
However, the conditions are extraordinarily favorable: For a loan to finance a passive house with a fixed interest rate of five years, 4.75 percent nominal interest is payable, longer fixed interest periods over seven or ten years are required for each five basis points to get more. The loan is paid out to one hundred percent. The repayment can be determined by the borrower, with annual repayments ranging from one to five percent of the loan amount. The terms and conditions apply to a lending expiry of up to sixty percent, so that in combination with a subordinated loan from Intrasavings bank from their homeownership program and a relatively modest own contribution, a very favorable financing concept can be conceptualized.
Energy saving houses that do not achieve the status of a passive house are also promoted. The key criterion here is the suitability for a loan from Intrasavings bank’s energy-saving programs: if the conditions are met, the Fersbank will also grant a loan. For Intrasavings bank energy-saving homes 40, which consume no more than 40 kilowatt-hours of energy per year per square meter of living space, five basis points are attributed to loan terms. For energy-efficient homes 60, 0.1 percentage points more interest is payable than for a passive house, and 0.15 percentage points for buildings that meet the requirements of the German Energy Saving Ordinance. Buildings that offer added ecological value through certain measures, such as the installation of rainwater harvesting equipment, can be classified in the most favorable interest rate.
With a higher mortgage lending rate
With a higher mortgage lending rate than the specified sixty percent, the loan becomes more expensive. If the market value is up to seventy percent, the Environmental Bank charges a premium of 0.1 percent on the entire loan, with a loan expiry of eighty percent 0.2 percent more interest.
The offer of the Fersbank is suitable for all builders who want to build their own home according to ecological criteria. The added value of this is not only in a good conscience: energy-efficient buildings are associated with significantly lower operating costs in times of high prices for electricity and natural gas, and are also worthwhile in economic terms.