serenity199
2017-08-31 10:46:44
- #1
Hello,
we are currently at the very beginning of our planning/financing. Therefore, many people here will surely have more knowledge and be able to help me with my questions for understanding.
It is clear that we will finance the land and the house separately. For the land, we have an offer with 1.34% and a 2-year fixed interest period. Allegedly, the cancellation of the loan thereafter is free of charge. Of course, we want to keep the option to cancel open in order to choose other loan providers for the house loan as well.
My questions regarding this:
1. If I cancel the loan after 2 years because I want to refinance, do I then only pay back the remaining debt to the bank or the remaining debt plus the planned interest?
2. Will there really be no costs for me, or what should I watch out for in the contract to prevent that from happening? What about a prepayment penalty, for example?
we are currently at the very beginning of our planning/financing. Therefore, many people here will surely have more knowledge and be able to help me with my questions for understanding.
It is clear that we will finance the land and the house separately. For the land, we have an offer with 1.34% and a 2-year fixed interest period. Allegedly, the cancellation of the loan thereafter is free of charge. Of course, we want to keep the option to cancel open in order to choose other loan providers for the house loan as well.
My questions regarding this:
1. If I cancel the loan after 2 years because I want to refinance, do I then only pay back the remaining debt to the bank or the remaining debt plus the planned interest?
2. Will there really be no costs for me, or what should I watch out for in the contract to prevent that from happening? What about a prepayment penalty, for example?