{"id":9487,"date":"2022-12-14T18:18:35","date_gmt":"2022-12-14T17:18:35","guid":{"rendered":"https:\/\/www.hypotheekwinkel.be\/hypothecaire-lening\/"},"modified":"2026-04-23T16:18:10","modified_gmt":"2026-04-23T14:18:10","slug":"mortgage-loan","status":"publish","type":"page","link":"https:\/\/www.hypotheekwinkel.be\/en\/mortgage-loan\/","title":{"rendered":"Mortgage Loan"},"content":{"rendered":"\n\n
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Mortgage Loan<\/h1>\n <\/div>\n <\/div>\n \n \n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n\t
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A mortgage loan, in simpler terms, is called a home loan. Do those words ring a bell, but you have no idea what they mean? Don’t worry, we are here to explain step by step what a mortgage loan is, how it works, and how to choose the best one.<\/p>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n\n\n\n\t

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What is a Mortgage Loan?<\/h2>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t
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Here’s how it works: you, the borrower, enter into an agreement with the lender. This is usually a bank, which, upon agreement, deposits a large sum of money into your account. With this, you can buy a house, an apartment, or a plot of land, but you can also build or renovate a property. Of course, there\u2019s a catch. Your property serves as collateral for the loan. This means that if you don\u2019t pay off your loan each month, the bank becomes the owner of your house.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n\n\n\n

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How Much Does a Mortgage Loan Cost?<\/h4>\n \n
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How much you pay back each month depends on several factors, such as the total amount you borrow, your income, the value of your property, your own funds, existing loans, etc. It can be quite complicated, but don\u2019t worry: we will help you figure out how much a mortgage loan for your dream house will cost<\/a>.<\/p>\n<\/div>\n <\/div>\n \n <\/div>\n

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Borrowing Money Also Costs Money<\/h4>\n \n
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Yes, the interest rate: the interest you pay on the borrowed amount. If we may offer some advice: don\u2019t just focus on the lowest interest rate. By doing so, you might overlook other important costs, such as various expensive insurances that come with your loan. Golden advice from Aunt Mortgage.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Fixed or Variable Interest Rate?<\/h4>\n \n
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Besides the percentage, you also need to choose the variability of your interest rate. If you opt for a fixed interest rate, you pay a fixed percentage for the duration of the loan. If you choose a variable interest rate, there are rates that change every year, but there are also ones where the interest rate only changes, for example, after 16 years.<\/p>\n<\/div>\n

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Mortgage Loan Term<\/h4>\n \n
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A mortgage loan lasts a minimum of ten and a maximum of thirty years. The term of your home loan is important because it not only determines your interest rate but also your monthly payments. For example, if you borrow 300,000 euros over 20 years, you pay about 1,700 euros per month. If you do it over 25 years, you pay about 1,500 euros per month. By the way: the longer your loan term, the more you will have paid in total at the end of the term. Calculate your specific home loan here.<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n <\/div>\n \n <\/div>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n

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And Then There Are Additional Costs<\/h4>\n \n
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When you buy a home and take out a mortgage loan, you also pay many additional costs. From notary fees<\/a> to registration fees to appraisal costs: with our handy tool, you can calculate a simulation of your home loan.<\/p>\n<\/div>\n <\/div>\n \n <\/div>\n

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Insurances Everywhere<\/h4>\n \n
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In addition to those extra costs (and of course your home loan itself), you are also required to take out several insurances. From fire insurance to a loan balance insurance, be sure you can save a lot of money by comparing prices first. To compare apples to apples and not get lost in the endless options, you can come to us.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n <\/div>\n \n <\/div>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n

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Legally Avoiding Taxes<\/h4>\n \n
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The home bonus was buried in 2020. But it didn\u2019t stop there, because there are still ways to save on taxes when you buy a home.<\/p>\n

We are happy to explain further the possibilities to make it as tax-efficient as possible.<\/p>\n <\/div>\n \n <\/div>\n

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First Time?<\/h4>\n \n
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Are you buying a house for the first time or do you already have some experience? Are you planning to live in it yourself, rent it out, or use it as a vacation home? Are you buying something domestically or abroad? When you take out a home loan, each of these questions comes with a different story. And we, we have the ans<\/p>\n <\/div>\n \n <\/div>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n

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What Type of Repayment?<\/h4>\n \n
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Taking out a mortgage loan where you repay part interest and part principal each month seems like a logical decision at first glance. But if you expect a large sum of money in a few years, that suddenly becomes less logical. So here too, you have plenty of options. Do you want to pay more or less in the first few years? You will have to make a choice here as well.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n <\/div>\n \n <\/div>\n

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Calculating a Mortgage Loan<\/h2>\n <\/div>\n <\/div>\n \n
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Applying for the best mortgage loan will probably be the most expensive decision of your life. And you can bet that the first offer you get from your bank won\u2019t be the best one. Being sure you\u2019ve got a good deal isn\u2019t easy. Comparing with friends and family isn\u2019t a foolproof strategy, and sometimes interest rates can change dramatically overnight.<\/p>\n

And let\u2019s assume that the interest rate completely determines your home loan. Nothing is further from the truth, because banks get their biggest earnings not from that shiny percentage that draws all the attention. From what then? The expensive fire and loan balance insurances that you must take out to get that low interest rate.<\/p>\n <\/div>\n <\/div>\n <\/div>\n \n <\/div>\n <\/div>\n <\/div>\n<\/section>\n\n\n\n\n\t\t\t

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