When you want mortgage interest on your mortgage, you pay, in addition to the normal contribution rate, also a surcharge, and in the 4 major institutes, the minimum is 0.1% if the mortgage is below 40% and the highest is 1%.
Currently, “interest-free” bonds have been issued with interest rates of 1% – 2.5% for a total of USD 289 billion.
This means that the homeowners pay at least USD 289 million in contributions for the freedom to pay the installment, but the most likely is that between 289 and 950 million extra is paid.
If you have a mortgage-free loan of USD 3 million and 80% loan, you pay approx. USD 9,900 extra a year in contributions for the freedom of installment.
The Good Finance model is based on the fact that you take out the mortgage with repayments and finance the repayments from a mortgage. The rate on loans with repayments is higher than on a traditional loan with repayment, so you have to borrow less.
Currently, only 30-year loans can be borrowed at 0.5% interest. Here the price difference today is 1.2 points, so if you take out a repayment loan of 3 million, you only need to borrow a loan of USD 2,963,000 to get the same amount paid out. Your starting debt will thus be USD 37,000 lower in the example.
If you use the Good Finance model for interest-only payment, your entire installment payment will be raised on the priority credit. Interest, installments and contributions. You must, as a minimum, pay interest and contributions on the mortgage. But you can also choose to pay a little more. In that case, it’s installment, but you decide how much. The repayment of a 0.5% loan of USD 3 million is initially approx. USD 7,700 per month. In this example, you can choose to deposit between 0 and 7,700 kroner and you do not have to pay the same amount each time.
After a while, and you have used the prepayment mortgage
You can also choose to pay an extra amount. For example, used the mortgage for repayment for one year on the loan in the example, the credit has been deducted kroner 118,000 and the debt on the mortgage has decreased by kroner 118,000, so you owe net more. But you can freely reduce the credit by a larger amount if you wish. Completely free of cost and without alerts.