Mortgage calculator

Neo Mortgage Calculator!

We would like to explain the most important points of our mortgage calculator.

Mortgage

A mortgage defines a loan to finance a property.

Interest

Interest (or mortgage interest) is the annual percentage rate you pay to the bank on the mortgage you receive.

Amortization

If you buy or build your own home, 80% of the value of the property is usually taken as a mortgage. 20 percent must be contributed from the capital. The amortization repays the part of the mortgage that exceeds two thirds of the value of the real estate.

Own funds

Your assets are, for example, your savings, the third pillar (3a or 3b) or the second pillar. Generally, you should collect at least 20% of the purchase price as own funds.

Additional costs

The amount of additional costs is usually 1% of the value of the property, which you need to set aside annually for all costs incurred. In the monthly costs we have already included the maintenance costs in our mortgage calculator.

Loan

Lending means the ratio of capital to purchase price. Mortgage lenders typically require at least 20% equity. As a result, the loan-to-value ratio should not exceed 80 percent.

Portability

In case of availability, the cost of the property is compared to the gross income. As a rule, property is considered affordable if the monthly expenses do not make up more than one third of the gross income.

Monthly expenses

All calculations result in monthly expenses. Note: the monthly costs vary due to the age of the property. You can also have higher costs.