Are you a homeowner and do you need some extra money? If you are considering a loan, the fact that you have a house works to your advantage. More affordable loans are available for homeowners than for people who do not own a house. What’s up with that? People who have their own house have more financial security. Because of this certainty, lenders are prepared to borrow higher amounts of money at a cheaper interest rate. Moreover, conditions that apply when granting credit can be relaxed.
Borrow more economically for homeowners
Previously you had the WOZ credit for homeowners. This was a cheap loan and therefore a nice alternative to a second mortgage or a personal loan. However, the WOZ loan no longer exists. Instead, there are attractive forms for homeowners for all kinds of loans. This applies to revolving credit and to a personal account. So when you own a house, it is important to always look at the favorable conditions that a loan has when it comes to homeowners.
A personal loan is ideally suited to pay for a one-off major purchase. You can adjust this loan precisely to the purchase that you want to make. When you own a house it becomes easier to take out such a loan. The difference with loans for people who do not own a house is that the term of the loan is extended. In addition, you also receive a more attractive interest rate and you can borrow a higher amount. In terms of additional conditions, you can also take out a loan at a later age in comparison with non-homeowners.
Even with revolving credit, more attractive conditions apply to homeowners. This form of loan is ideal for unexpected extra expenses. With this form of credit you can withdraw as much up to a certain amount as you want and also pay it off as quickly as possible if you prefer. If you are a homeowner, you can get a higher maximum amount that you can borrow in total at a lower interest rate. Here too, the conditions are more flexible for homeowners.
When applying for a loan, first request a quote. When requesting a quote, it is therefore important to state that you own a house. This allows them to make you a better offer. It is always wise to study quotes well and to compare the associated conditions with each other. You can also compare who has the most advantageous conditions for homeowners. It is wise to request at least three different quotes and compare them with each other.