Foundation costs cover the costs incurred when borrowing. These are costs in addition to the principal, interest and other fees. There are foundation costs on most types of loans. The cost of setting up loans can quickly constitute a significant item, which is why they are important to note as they also affect the loan’s OPP. However, do not worry about the foundation costs of our online loan as we do not impose this.
What does foundation cost entail?
Founding costs consist of a number of different items. Below, we will review what costs you may incur in taking out a loan:
Establishment fees are mostly fixed, which is why it remains constant regardless of the size of the loan. The fee is typically around USD 1,000 and can be described as a lump sum you pay to take out a loan.
Land Registration fee
The registration fee, or registration fee, can be a difficult size to understand. It covers a public registration of real estate, housing, car or the like, but can also be marriages or furniture. You pay by document and a fee must be paid for everything that is registered. Thus, the tax is not collected into one, but you do pay per. item that has a document or mortgage deed. If you want the bank to declare something in connection with the loan, you should expect to add USD 1,000 to your foundation costs.
A further fixed amount is paid to the state of USD 1,400, which covers documents and mortgage deeds to be registered. The documents are compulsory to get registered, and you do not pay USD 1,400 in total, but per. document.
Founding commission is a percentage that is paid to the bank when the loan is taken out. This is at 2% and has a ceiling of around USD 10,000. This means that with a loan of USD 300,000 you pay USD 6,000 in foundation commission directly to the bank.
In the example of a mortgage of 300,000, the distribution of the above-mentioned foundation costs looks like this:
A 100% transparent loan
With us, you should not worry about foundation costs, as the entire loan process is 100% online and automatic. It also means that it only takes a few minutes and that you have the money in your account right away. You will receive an answer to your application immediately and if you are considered creditworthy, you can start borrowing directly.
We offer a first loan with a 50% discount for up to 30 days, and you can borrow up to USD 6,000 if you are 20 years old. You choose your own maturity of up to 30 days with the option of an extension for a fee. Below you can see the development in the maximum amount you can borrow from us:
If you have already taken advantage of our interest-free and fee-free introductory offers, you can advantageously use our incorporated loan calculator, which can at any time show you the real cost of your loan. That’s because it makes a complicated interest calculation in just seconds.
The loan calculator is also one of the key reasons why we can offer a 100% transparent loan for what you are missing. In other words, there are no unpleasant surprises when you borrow from us – neither foundation costs nor any other hidden fees.
Credit amount 6000, – Maturity 12 months Total credit costs. 7908, – Mdl. maximum payment 1716, – Total repayment 13908, – ÅOP 816.67% Debt rate / annual fixed: 243.3%. 14 days cancellation right on the credit agreement. Age 20+