bestens
2022-04-29 20:01:33
- #1
Hello,
I bought an old building and took out a renovation loan of 100,000 EUR. The commitment interest is calculated based on the loan amount not yet drawn, right? And the repayment of the loan only begins when the entire loan has been disbursed 100%.
Disbursements must be at least 25,000 EUR.
Can I then simply have the amount of 75,000 EUR disbursed at the beginning of the renovation, so that I only have to pay the commitment interest on the 25,000 EUR? Commitment interest is 3% per year, so 0.25% per month.
That would only be 125 EUR interest per month.
The bank said I can have everything paid out directly without proof since it is "only" 100K, but only in 25,000 EUR increments. Proof is only required for amounts over 100K.
I bought an old building and took out a renovation loan of 100,000 EUR. The commitment interest is calculated based on the loan amount not yet drawn, right? And the repayment of the loan only begins when the entire loan has been disbursed 100%.
Disbursements must be at least 25,000 EUR.
Can I then simply have the amount of 75,000 EUR disbursed at the beginning of the renovation, so that I only have to pay the commitment interest on the 25,000 EUR? Commitment interest is 3% per year, so 0.25% per month.
That would only be 125 EUR interest per month.
The bank said I can have everything paid out directly without proof since it is "only" 100K, but only in 25,000 EUR increments. Proof is only required for amounts over 100K.