Cheap Loans from the Reconstruction Loan
The Good Credit supports the purchase, construction, and renovation of housing with extremely cheap loans and grants. With a development loan from the state bank, builders and property buyers can often save thousands of euros in interest costs.
Good Credit does not grant its popular promotional loans directly to end customers; rather, sales are made through banks and savings banks. The first point of contact for Good Credit is, therefore, the local house bank.
It checks the prospect’s funding request and, if the decision is positive, acts as the borrower’s official contractual partner. The lending bank must be liable to Good Credit for the repayment; in return, it may retain part of the interest gains from the lending business.
Good Credit loans are suitable for various purposes
Every citizen who wants to buy or build a home and has the necessary creditworthiness can claim a loan from the Good Credit homeownership program. For homeowners who want to renovate their property from scratch and want to improve thermal insulation, for example, the development bank offers particularly high and affordable loans.
You receive an additional repayment subsidy from the state and the bottom line is that you have to pay almost nothing for the loan in the first 10 years, the bonus almost compensates for the interest costs. Good Credit loans for the age-appropriate renovation of a property or the first purchase or construction of a house with very low energy requirements are only marginally more expensive.
There are special Good Credit loans for this purpose, the terms of which depend on the specific energy requirements of the property. The lower the consumption, the cheaper the loan.
Beware of mixed financing
Good Credit only sets maximum interest rates for its credit products. Within this framework, banks can freely decide on the interest conditions. Many banks grant their customers an interest discount on the Good Credit loan if they take out a regular loan at the same time.
Many builders or property buyers, therefore, opt for mixed financing from Good Credit and ordinary bank loans. Particular attention should be paid to the total cost of the bank loan, some banks simply try to add the interest rate discount on the Good Credit loan to their own product. The bottom line is that nothing is gained for the borrower.