If you lend 1 million to a cooperative, you must pay a monthly payment to the bank of between DKK 5,000 and 6,500 . per. borrowed millions. What affects your price for borrowing 1 million cooperative housing loans is: The loan amount (minus your deposit + formation costs in the bank and to the state), the bank’s interest rate level and the maturity of the cooperative housing loan. Especially the interest rate on the loan to your cooperative housing affects the rotal costs. In the below you can see how much you have to pay in interest and repayments to the bank at different interest rates on housing loan loans. Further editorial at http://marabi.net
How your bank makes loans for cooperative housing matters how much it will cost you. Most banks offer loans of 100% of the share value and 95% of the share’s purchase price, while others divide the loan into two or three. If the bank divides the loan into two, you get the first 80% of the loan at a cheap interest rate and the last 20% at a higher interest rate. If you only need to borrow 80% of the value of the share, you can therefore advantageously choose a bank that shares the loan and possibly get it cheaper.
You can easily obtain quotes for what it costs you to borrow one million kroner – and thereby get a cheap housing loan here.
The cooperative housing loan is used to finance a purchase of a co-operative housing and is taken up as a bank loan. This requires the bank to receive the first priority mortgage on the cooperative housing. The fact that the bank gets a mortgage in the home means that the security is greater and thus a housing cooperative loan is cheaper than, for example. a consumer loan. Although the cost of the loan depends on the interest rate the bank will offer you, we have calculated the example below.
The co-operative’s value is DKK 1,250,000, since when you have a savings, the desired loan amount is DKK 1,000,000. The loan term is 30 years. The loan is taken up as a common housing loan with settlement.
It costs money to set up the loan so that various costs are deducted from the loan principal, so that DKK 975,815 is paid. With an annual variable interest rate of 3.4%, DKK 4,430 must be paid. month for the 30 years. The APR, also known as the annual percentage rate, is 3.7%. Overall, therefore, DKK 1,598,257 must be paid back to the bank over the term of the loan. In the principal of the loan, where various costs are deducted, DKK 24,185 is included in the creation costs, including DKK 16,600 for ia. registration of collateral in the housing cooperative.