Whether you are just moving into a new home or have been living in your home for a long time and you really want to implement the renovation plans, a renovation loan is very useful. This way you do not need to get your savings and you can still start the renovation. You can make a simulation of the renovation loan via simulation loan.be. You receive the results of the simulation loan in a handy overview. newviewpublications.com has more details
Why a renovation loan
The renovation loan applies for private purposes and the credit that you receive serves to finance your renovation project. A renovation loan is therefore ideally suited for individuals who want to finance a large or small renovation project. At the conclusion of a renovation loan, not only the loan amount is known in advance. The interest rate and the amount of the monthly repayment are also clear from the start. This way you know how much you have to pay and how long the exact duration is. In addition, you grant yourself a buffer because you do not have to worry about your savings. This is especially useful for a renovation project, because it regularly happens that unforeseen circumstances occur. Also, the credit from the renovation loan is usually made available to you quickly. This is mainly due to the simple and limited regulations and formalities regarding a renovation loan. Finally, the interest is tax deductible if the renovation project is an energy-saving investment.
The simulation of the renovation loan
The amount that you can borrow differs per institution. In general you can already apply for a renovation loan for the amount of 2000 euros. The maximum amount depends, among other things, on the size of the project and your ability to pay back. During the simulation of the renovation loan, you indicate, among other things, what amount you want to borrow. You also enter the amount of the term. You will notice that the calculator itself is already making a calculation. The duration depends on the amount borrowed and varies between 6 to 120 months.
The simulation has been made
If you have entered all the data, the simulation calculates how high your monthly interest and repayment amounts are for the given amount and the selected term. On the basis of this information you can contact the financial institution to go through the simulation. The simulation serves in most cases to give you an initial insight into your financial options. The loan is tailor-made based on the simulation.