Month: February 2020

First loan without interest

by Erik Vogt
Currently, one of the most popular alternatives to obtain extra fast money is to apply for loans online. Unlike banks, the web pages dedicated to granting loans or credits do not ask for so many requirements and the processes are usually simple and agile for greater customer comfort. These types of loans are designed to help us solve any type of inconvenience that may arise in our daily lives, such as a medical emergency or an urgent repair at home. In this way you can solve the problem without spending the savings or decompleting the budget. To apply for a loan you simply have to follow the detailed procedures on each of the pages dedicated to that business or use a loan comparator to see all the options available in the market that fit your profile and ability to pay.

How to choose a loan online?

How to choose a loan online? Perhaps the most complicated part when applying for a loan online is the choice that suits us best. In the market we can find a large number of companies that are dedicated to the loan of money. However, not all of them are reliable and it is important to pay attention to some details. The first thing you should see when entering is that the page has a valid security certificate and that the address is HTTPS, otherwise you would be taking the risk when entering your personal data. It is also important to check that the page does not take you to other addresses. One option is to read the reviews that other users have published on the internet to find out if it is a safe company. This also to know how is the experience of applying for a loan with that company and the conditions they provide to their clients. On the other hand, if you use a comparator you can rest easy because you will only find companies with a proven reputation for greater security when hiring. Also, the loans you will have in the options have been chosen because they have clear conditions and have no hidden or misleading clauses.

How to apply for a loan?

How to apply for a loan? Although each entity has its own procedures and requirements to grant a loan there are some that repeat. For example, first, you must fill out a form directly on the page of the company where we are making the request. The answer is usually given in a matter of minutes. The next step once we have the approval is to send the missing documents. The following requirements are usually requested:
  • Have valid ID
  • Be of age
  • Be a bank account holder
  • Reside in the country
Other companies ask for some more requirements such as having a private email account or non-corporate mobile number, but these are the most important. As you will see, they are more flexible requirements than you will find in a traditional bank. In addition, you will not have to queue or wait in an agency just to be denied the loan. It also offers an opportunity for those without credit history or with a very low history. This way they can build their credit profile with an online loan. Finally, as a customer you can choose how long you want to pay the loan.

Recommendations before applying for a loan

Recommendations before applying for a loan Applying for a loan is easy and fast, but that is why it is still a financial product that must be treated carefully to avoid getting into more debt. The first thing you should do before making the request is to analyze if you really need the money or if you can get it elsewhere. In any case, you should avoid taking loans that are above our ability to pay as we could end up with a larger debt than the amount requested. It is important to make a study of our financial situation prior to the request. In addition, you have to be attentive to the terms and conditions of the loans. Especially the payment deadlines and what happens in case we cannot meet the quota at some time. With a comparator you can see all the conditions quickly to avoid unpleasant surprises in the future.

When is debt restructuring worthwhile?

by Erik Vogt
Experts repeatedly advise that high overdraft rates should not simply be tacitly accepted. It is, therefore, an excellent solution to convert the overdraft facility into an installment loan and thus save high costs. In principle, this is also easily possible and offers valuable advantages for the consumer. By repaying, the borrower now receives constant installments, cheaper interest rates and thus the chance of prompt debt relief is significantly higher. In addition, only a few points need to be taken into account when arranging debt overdrafts, and repayment is no problem for many banks even in a short time. It is rarely made so easy for the consumer.

When is debt restructuring worthwhile?

When is debt restructuring worthwhile? Debt rescheduling is always worthwhile if it appears that it is no longer possible to get out of the overdraft facility without further ado and the situation could probably even get worse. Another reason for the redemption could be that the overdraft rates are simply too high. This is often the case since there is no law in Germany that sets the maximum limit for the interest to be charged. You can also make a very simple list yourself or use one of the many comparison computers on the Internet to determine the cheaper option by comparing them. In addition, you should always keep in mind that an overdraft facility has a double-digit interest. Unfortunately, 15 percent of pa is a reality these days. An installment loan, on the other hand, is significantly cheaper. The interest rates are well below 10 percent.

Debt restructuring is not worth it – alternative free current account

Debt restructuring is not worth it - alternative free current account In rare cases, rescheduling may not be worthwhile. In this case, it is important that you still try to keep the costs as low as possible. A good way to do this is to look for a free checking account with, particularly cheap overdraft facilities. Of course, this measure should be carried out in advance, before the overdraft facility was exhausted. The Internet also offers a wide range of comparison calculators and advice options for finding a great provider and not tapping from one cost trap to the next.

How does it work?

Debt rescheduling is really easy and a good way to get your bank account back on track. The best thing to do is to find a loan provider of your choice on the Internet and apply for an installment loan. You should make sure that the loan amount is chosen slightly higher than the target amount on the checking account. After all, you don’t want to slip back into the dispo immediately. After submitting relevant evidence and providing information to Schufa, the bank will usually pay the loan in cash or transfer it to the overdrawn account. This account is now cleared and the overdraft facility is replaced. One should nevertheless keep in mind that interest payments will also be incurred for an installment loan, which must also be paid monthly. In addition, of course, the agreed repayment amount must be paid. That is why it is important not to leave the selection of the provider to change and to carry out a corresponding comparison. Our team will be happy to advise you and help you to redeem your overdraft facility.

Debt restructuring of real estate loans.

by Erik Vogt
There are always times when you had to accept very high interest rates when financing your property. If there is a relatively low interest rate again, you should think about a possible debt rescheduling as a real estate financer. So that a low interest rate phase is not missed and the follow-up interest rate phase suddenly ends in a high interest rate phase, we have already proposed hedging with a forward loan. This option for follow-up financing can be secured when the contract is signed. In all other situations, a corresponding calculation must be made to determine whether rescheduling makes sense in the prevailing situation. Basically, however, it can be said: Within a fixed interest rate, it makes little sense for a real estate financier to reschedule. This only makes sense if it has been designed for a period of more than 10 years. Because here, according to German legislation, every borrower has the right to repay the previous loan in whole or in part with a period of six months. A debt restructuring can therefore make sense here. If the loan is below this deadline, the real estate financier is not only dependent on the accommodating of his lender, but can also be replaced by a hefty payment of a prepayment penalty.

Fixed interest rate for the construction loan

Fixed interest rate for the construction loan If, on the other hand, there is an end to the fixed interest rate for the construction loan, then it is easy to reschedule or even switch. Interested parties should not let their bank urge them to stay just because they are told that the change would result in extremely high fees. In most cases, the opposite is the case, because what is ultimately saved through a change is often less than what would have to be paid in fees. Interested parties should therefore not put too much pressure on themselves, but rather analyze the market in good time. Many banks, on the other hand, still rely on the inactivity of their customers and ultimately remain winners only because they offer them completely overpriced offers for follow-up financing. Therefore, use – if necessary – the rescheduling to another lender. Debt rescheduling or follow-up financing can be carried out for land, condominiums, semi-detached houses and terraced houses, for apartment buildings as well as for one and two-family houses and of course for residential and commercial buildings. In the case of debt rescheduling and follow-up financing, in addition to the commitment fees, there are also partial payment fees in the event that the committed loan is called up later or in partial amounts. There may also be corresponding valuation fees in the event that the lender appraises the property. If you are on the way to cheap follow-up financing, you should always pay attention to the seriousness of the respective provider. After all, what use is the most tempting offer to the future follow-up financier if all of the financing ultimately leads to the debt trap? So before the final decision to sign the contract is made, prospective buyers should examine an in-depth comparison of the various offers on offer, including a small print, of course. Appropriate follow-up financing can be found very easily on the Internet thanks to global networking.

The pros and cons of debt restructuring

The pros and cons of debt restructuring As already mentioned, debt restructuring within real estate financing can be rescheduled in two different ways: one is rescheduling when the previous agreement expires, the second is early rescheduling before the previous fixed interest period has expired. A debt rescheduling in the area of ​​mortgage lending is therefore always pending when the fixed interest rate has expired. Borrowers who have agreed on a variable interest rate, that they can use this loan all the way up to full repayment of the loan amount without rescheduling the advantage. In the case of a fixed interest rate agreement, on the other hand, the borrower has the option of deciding whether to extend the loan at the existing conditions or to transfer it to another bank. If the lender is switched to a new loan offer, there is real debt restructuring. Who wants to make a premature debt restructuring, has, however, that the bank does not have to agree with this commutation the problem. Such approval is almost always granted, but only at a high prepayment penalty. If you do not take this cost factor into account, you may not be able to drive your new interest rate more cheaply, even if it should be cheap. However, this can be avoided by not canceling the loan, but instead applying for a forward loan to replace your old loan. Here the borrower has the decisive advantage that he does not have to cancel his loan, rather he already sets the debt rescheduling for the future. At this point, however, it must also be mentioned that a forward loan can also prove disadvantageous. This is the case if the interest rates remain at the same level or even fall until the forward loan is drawn. Because a forward loan is only suitable in the event that interest rates will rise significantly in the future. Therefore, before an interested party decides on certain loans as part of a mortgage, a comparison of interest rates should be advised. Because even even the smallest differences between the providers themselves leading in most cases to an enormous savings potential with regard to the applied rates. Interested parties have the opportunity to do this using an interest calculator on various internet platforms. However, if you want to compare interest rates, you should still make sure that the provider also delivers well-founded comparison results. The interest rate should serve as an interest comparison, ie the comparison should make use of the effective interest rate, since the nominal interest rate does not include costs, fees or repayments. Likewise, there are two types of mortgage interest rates to consider. These differ in the duration of their fixed interest rates. On the one hand there is the interest rate for a variable loan, on the other hand there are different interest rates for fixed loans. Reason: With the duration of the fixed interest rate, the interest rate that the lending bank then demands for the fixed-interest loan also increases accordingly.

Credit Simulator in the country

by Erik Vogt
The loans, since the banks were invented, have been contracts in which the client receives money from the entity. Meanwhile, the first one agrees to pay it at a certain time and under certain conditions. An online loan is the new face of our loan agreements with banks. Technology and digital identity are today, a new way of accessing benefits and new ways of doing business.

Credit Simulator

bank That is why entities such as Good Finance grow the financial world digitally by granting loans online. Having to lose a whole morning coming and going from a bank, sitting waiting to be served, then waiting at least a couple of days to receive an answer and then acting with an answer in hand is one of the many vicissitudes that arise With regular bank loans. With a credit simulator like Good Finance’s, the information is for everyone in a matter of seconds.

How Good Finance works

Good Finance specializes in helping all types of people choosing loans online at their convenience and works in all circumstances. With the technological development of business and, above all, current banking, user information is digitized for business use and every interaction, operation or change is recorded forever. The credits do not escape technological innovation, the financial system being one of the first that users expect to be digitally transformed. The web portals currently offer some bank credit simulator in which one of these loans can be quickly calculated. All banks that offer this type of service generally have some specifications to calculate the value of the credit to be granted. Among them they can be:
  • Value of the property: It is considered to verify that the amount of the loan to be requested is allowed by the bank rules or the laws of the country.
  • Initial fee: The amount requested from users. It does not always equal 10% of the total value of the loan.
  • Credit amount: The magic number. How much do you need?
  • Deadline to pay: You choose the one that suits you best.
  • Personal PDatos: They usually ask everyone who has to do with your identity.
After all this, the banking entities, institutions or other entity that is responsible for managing the digital request, in seconds calculates the interest rate, the fees to be paid and perhaps even the total value at the time of the credit.

The Good Finance credit simulator works differently

The Good Finance credit simulator works differently When you enter the Good Finance website you can request the credit you need on your page, by clicking on a button that will take you to a credit simulator. There you can get an idea of ​​the credit process in terms of payment and interest, always taking into account the amount of money requested and the term set by yourself to pay them.

After using the credit simulator

In a hypothetical case, you can make some decisions based on your experience with the credit simulator. Let’s say the initial fee is less than you thought and you are willing to pay more money in each installment. In that particular situation, you can change one of the Paying in less time is equivalent to a slightly higher monthly fee, and less interest in the total credit. You can see the effect of changing this variable as well. Initially ask the credit simulator for long-term calculation. You will see that the total credit value will be lower because you will not pay interest for two years. Now, suppose the quota is higher than your expectations:
  • Modify the value of the credit to request. Request less money.
  • Extend the deadline, ask for more time
You can modify the variables as many times as you need until you find the quota that best suits your needs.

What are credit simulators for?

It is a tool that will help you project what the interests, costs, and rates of the products you want to acquire will be so that you make an informed decision. Simulators are useful for comparison. You could tell which bank is lending at a lower rate. The important thing to be able to make a good comparison is to repeat the same information on each form. If you don’t have time, we help you get the best deals for your credit. Good Finance is the ideal tool to request your loans and acquire them in a short time. Loan simulators are online calculators, which offer almost all financial institutions, and that helps to know what type of credit and which bank best suits our needs. Although the simulators are very useful, you have to keep in mind that before looking for a loan or asking for it, it is necessary to know how much money is needed and how much you want to borrow, since you will know what kind of interest you can pay. When using a simulator it is very simple since normally you only have to include two data:
  • The amount we want to request
  • The terms of return of the same (days, months, years).
With this data, the tool itself is responsible for automatically establishing the interest rate with which the operation will be taxed and even, many of them, give you the possibility that at the same time you calculate it you can hire it directly by filling in a series of forms. All Colombian banking entities have developed their own credit simulators. Many of the banks, before carrying out the calculation, ask the user questions as if they are a customer, number of holders, amount of money to request, average income and monthly expenses. If the user passes these filters, he will obtain some calculations in which the monthly fee, the opening commission, the interest rate and the total amount to be returned are indicated.

How to find a reliable company

money These are the signs that will help you find a reliable credit company, such as Good Finance.

Has a good reputation on the internet

No matter what you are asking for a loan, do not give in to hurry and take your time to google the reputation of the company to which you will apply for the loan. Check the background of the company and the opinions of other users; If most are good.

Offer “moderate” sums of money or according to your ability to pay

A reliable lender takes precautions and is transparent with its clients. If you approach them for the first time, in addition to reviewing your credit history, it is expected that they offer you only the minimum, in this way they ensure that you will have the ability to pay, and they will begin a relationship with you to increase the amounts and improve the conditions of Payment in future loans.

Do not ask you to sign contracts or make agency payments before applying to the loan

A reliable company knows that you are asking for money because you don’t have it, so it will obviously facilitate the conditions for you to get it fast, but it will NOT charge you before giving you the loan. Although there are management procedures, these will be quick, and they should never “condition you” to pay ‘fees’, ‘insurance or opening commission’ or any deposit before knowing whether or not you will have the credit authorized.

Check your credit history but do not ask for private details

Reliable lender companies review your credit history in a bureau or credit circle, as a procedure, but ask for your written authorization, and also verify public information. You are not asked for passwords or passwords for your bank accounts at any time.

Clearly explain the date and amount of your payments

When acquiring a loan or obtaining a loan, a reliable company will offer you free financial advice to guide you in any doubt; but also, it will explicitly show you how your payment scheme will be: how often you decided to pay and the amount that corresponds to each term, as well as the interest, generated.

Mortgage Credit Simulator

Mortgage Credit Simulator It is likely that, when you search for credits to buy your home, you have found several pages that give you the option of using your mortgage credit simulator. If you do not know what it is and if it is reliable, here we explain its function and usefulness so you can take advantage of it.

What is a mortgage credit simulator?

A mortgage credit simulator is a tool offered by most websites of financial institutions to help you calculate the value of the monthly installments that you would have to pay for the credit you are interested in contracting. Good Finance offers you a

What is a mortgage credit simulator for?

A simulator serves you like a mortgage loan calculator. Before making the purchase of your house through a mortgage loan you should know if you will have the ability to meet the mortgage payments in such a way that you make sure that you do not jeopardize the economic security of your family. The mortgage credit simulator is very useful for everyone because it estimates a monthly installment amount to cover after it has been assigned. This will prevent you from wasting time when requesting more information and doing paperwork at the physical headquarters of the banks that offer these credits that are often difficult to pay.

Compare is key

A mortgage credit simulator will also help you compare the credits offered by the different financial institutions so that you can value all the options and be able to choose the one that is most profitable for you and that suits your possibilities. Credit simulators such as Good Finance are used to give you an approximation of the amount of the monthly payment that you should meet to cancel your mortgage, but that kind of information is, above all, of an orientation type. This is very important to keep in mind, because the information is not accurate, only an approximate one.

How does a mortgage credit simulator work?

How does a mortgage credit simulator work? To use a mortgage credit simulator you must fill out a form with the information requested. The main data required are the cost of housing, the amount you want to request, the term or years in which you want to repay the loan, and the interest rate you want; if you want it to be fixed, variable, mixed, etc. In this way, the simulator will calculate the estimated monthly payments that you should cover for certain credit and will give you all the information you need to know about the mortgage fee to make the best decision. Take into account that in order to correctly use a mortgage credit simulator and understand the information given to you, you must first be clear about what a mortgage loan is, what it is and know the criteria that are managed. How to know if a mortgage credit simulator is reliable

Feeling distrust is natural

It is normal for the use of a mortgage simulator to cause you distrust and uncertainty. To ensure that the calculation you receive is reliable, check that the simulator is regulated by a government entity and / or has a reliable user base that will give it a good reputation. Now that you know the function of the mortgage credit simulator, take advantage of its use, calculate your monthly installment and make sure you have the payment options to solve the mortgage you wish to apply for.