A credit calculation makes it possible to get precise ideas about the total financing or repayment expenses before the actual borrowing.

If you include the most important parameters of real estate financing in the calculation, you can determine the cheapest option for your own financing project in a subsequent comparison of different offers and financing options.

The most important parameters of the loan calculation include, for example, the interest rate, details of the repayment or the desired loan amount.

With practical online calculators, the loan calculation is usually quick and free of charge.

## Credit calculation with the loan calculator

With the help of a loan calculator on the Internet, anyone interested can have their loan calculated themselves. Only a few details are required for this, including:

- the desired loan amount
- Start date of the loan
- the desired term
- possible consideration of special repayments.

Within a few seconds, future borrowers will be shown the appropriate information from various banks. The monthly rate is also given directly. Interested parties can now change their entries based on this information.

For example, a longer term can be entered in the loan calculator, which leads to a lower monthly loan rate.

- A loan calculation should be tailored to the different loan types. For example, an annuity loan requires a different calculation than a repayment loan. Therefore, use specific calculators that contain parameters adapted to the respective loan form. At hauskredite.de/rechner you will find our most important calculators for all common types of credit.

#### Loan calculation of installment loans

Amount of credit Interest per month Processing fee Duration in months Cost of processing fees Interest expenses Total cost installment loan Monthly loan installment

### From the loan calculation to the repayment plan

A sensible and realistic loan calculation can serve as a starting point for the repayment plan. The entire repayment history of the selected form of financing is recorded in this plan. It serves as the most important and binding guide for the borrower.

The repayment schedule contains all the time and financial information on the installments, interest and repayments.

## Tips for your own loan calculation

The following aspects should be considered when calculating credit:

- choose the shortest possible term of the loan
- Do not take out residual debt insurance for small loans (only recommended for construction and real estate loans)
- Increase creditworthiness (by adding a second borrower with regular income)
- Many banks pay less interest on collateral

It is also important:

- Calculation is based on the APR (fees are included, APRs include all the costs of a loan)
- Additional fees (e.g. residual debt insurance) may apply.
- Borrowers should check whether a processing fee is allowed at all. The Federal Court of Justice ruled in 2014 that processing fees for many loans are not permitted.