Where can a man get the best mortgage loan?

I would like to build/buy a new house for my family for the new year. However, I have no knowledge of banking at all. Which institution would you recommend to me? When I enter the word Immobilienkredit in Google, I am just flooded with offers. Somehow, the whole thing overwhelms me. Thank you very much for your help.

To answer the question, you would need to know a bit more. What kind of house is it going to be (new build, old building)?, how high should the purchase or construction price be?, how much equity do you have available?, how much could you afford monthly for interest and repayment? How long should the loan run? What use is a very low interest rate if it is connected with a very high repayment rate, which you then cannot afford monthly? A home financing is a complex matter that cannot be done just by "googling" on the internet.

Regards

Hello Günther911,

there is no such thing as a "universally best financing option for everyone."

When it comes to construction financing, simply too many personal factors play a role, which exclude generalization.

So the only option left for you is to obtain several offers in order to get a direct comparison of your personal possibilities.

A good start is to request an initial offer from your house bank and one from an independent financing broker as a comparative offer.

This way, you will already get a fairly good overview of your financing options.

Best regards

M. Thiemann

Just take a look at the daily newspaper. They often offer tables that advertise the "best interest rate offers." That can give you an initial overview. But be careful, as MarcoT already wrote, the financing option definitely plays a role. Do I have a talented and motivated bank advisor or someone who can only calculate interest and repayments?

Gut feeling is very important; do you feel well taken care of by them? Do they also address things that go beyond the obvious – risk balancing or "What happens at the end of the fixed interest period"? Such things should at least be mentioned.

Ask around among acquaintances and relatives. Who were they satisfied with? Please be cautious with their statements, also with forums like this one – including MY posting – someone who has done a construction financing once in their life always thinks they know everything. But what was good or right for them does not necessarily have to suit you.

And don’t sign anything you don’t understand.

The most effective way to find the right financing partner is to get a recommendation. So ask around among your friends and family who has already had good experiences with whom. Then the likelihood is very high that you will also have a good experience with this person. When contacting the recommended financing partner, you should definitely mention that you are coming on a recommendation. Because then the financing partner has a reputation to lose.

If you still do not receive a recommendation from your surroundings, turn to an independent financial advisor, get as much as possible in writing, and check the advisor's statements and assumptions as well as you can.

Financial consulting is a shark tank!