How does a construction financing work?

 

Most people who want to buy or build their own home are interested in the financing process.
In this article, we describe the process of a construction financing consultation at our company, from the initial contact to loan acceptance.

As a rule, we receive most inquiries in the area of real estate financing through our online presence and through referrals. Often there is already a concrete object, which wants to be acquired. Due to the current situation on the real estate market, speed is required in addition to sound advice. We can score points with our customers because we are not bound to any opening hours and also allow "spontaneous" appointments.

The initial contact for construction financing

Quite classically, we will i.D.R. Nor contacted by telephone or e-mail. After making an appointment, you will receive an e-mail from us with a checklist for the documents we need for the consultation.
If you are not able to bring one or the other document to the appointment, it is not a problem. The appointment takes place, the missing documents can be submitted later.

The first consultation

In the first consultation we take enough time to ask the exact intention of the person, to get to know us a little and to discuss the open questions.
When we have clarified how high the financing volume is, we look at the fixed income and expenses.
With this information i.D.R. Already make a rough statement whether a financing is feasible. We stand by the following statement out of conviction:

This means that the service of the real estate loan should be possible in any life situation. This is especially true in the case of unemployment or when children are added to the family. In this first consultation, we also discuss, among other things:

  1. The interest rate lock they want and the term of the loan
  2. The repayment request
  3. Whether to use certain subsidy programs such as kfw loans
  4. Whether the inclusion of building savings contracts seems reasonable
  5. Whether and how much equity capital should be used for the financing
  6. Own contributions, which are to be furnished
  7. The necessary provision-free time for the loan

Once the framework parameters have been established, we will arrange a second appointment as soon as possible. Until then, we do our homework and try to find solutions that correspond to the wishes of the person in question.

Due to the numerous partners in the form of banks, insurance companies and building societies, it is particularly important for us to find the optimal offer for the customer. Since sellers are often expected to make very quick purchase decisions when buying real estate, our flexibility is a great advantage for us. For this reason we always try to present a result very promptly.

The second consultation

In the second appointment we will present our elaborations. We summarize again the wishes and needs of the interested party and then present our result. At this appointment, questions often arise about how to proceed further. We try to answer these questions as precisely as possible and to support you in your further plans.

After the consultation

As a rule, a decision is then also made quite promptly. Nevertheless, we ask that you allow yourself a "night" to think about which financing partner and which financing model you would like to use for your financing.

After a decision has been made for a variant, we contact the financing partner.
A final commitment is then finally received from the financing institution to which we submit the application. This then takes 2 to 14 days depending on the institute. Of course, we know the processing times and will also select the appropriate partners in this respect.

We are in close contact with the financing partners and have our direct contact person at each institute. Thus, we can always communicate any special cases that arise or special requests of the interested party directly with the appropriate bank.

Acceptance of the application and the description of the further procedure

After a positive financing decision, we receive the loan agreement, which must then be signed. We go through the contract together with the interested party and send it back to the bank with the appropriate documents.

What added value can we offer?

As you could perhaps determine, a financing consultation is nevertheless very individually arranged. Thanks to our cooperation with a large number of banks, insurance companies and building societies, we can use our years of experience in the construction financing sector to show you the best options for making your dream of owning your own home come true.

  • Favorable loan interest rates (often more favorable than your own bank)
  • Flexible scheduling (even after the bank's normal opening hours)
  • We, as the direct contact on site in bad essen
  • Wide range of financing options

What costs will you incur and how will we be paid?

We advise you free of charge and without obligation to what extent financing is possible and reasonable for you. Should we be able to arrange financing for you, you will not pay any additional consulting fee. This we receive directly from the respective bank/insurance/building society and is not charged separately.
If no financing comes after our consultation, you also pay no consulting fee!

Thus you take no risk and can get non-binding advice.

If we have piqued your interest and you are interested in a free and independent consultation, please feel free to contact us using the following input form.
There you can also ask questions or ask for feedback regarding an appointment.
You are also welcome to contact us by phone or take advantage of our online consulting service.