Borrow Money

You can borrow money for a house, a car, a renovation, etc. There are several reasons why you would want to borrow money.

Borrow money via Forento.be

Of course you can also take out a loan to temporarily have some extra financial breathing space. Below you will find more information to find the best loan for your project.

Borrow money for a house

 You take out a mortgage loan or home loan to pay for the purchase of a house. In principle, this is only a part of the purchase price. The additional costs such as notary fees and registration fees are therefore directly at your expense. The lender takes out a mortgage registration with this type of loan. This means that the lender may sell your house if you do not repay the loan.

Personal loan

A personal loan is an installment loan. This allows you to borrow money for different purposes. For example, it could be a party, a washing machine, etc. So you do not have to submit an invoice for which expenses you have paid via a personal credit. This loan is therefore a great alternative if you prefer not to withdraw money from your savings account. In addition to a personal loan, many banks also offer credit facilities today. This is a form of borrowing money where, in contrast to a personal loan, you do not receive a fixed amount. As a borrower you can use the money as much as you want, provided you repay it within the agreed arrangements.

How much money can I borrow?

How much you can borrow via a loan depends on your personal situation. Of course, the lender will be interested in your monthly income. This could for example be your wages, fixed rental income, etc. On the other hand, the lender places your fixed expenses. In addition to the repayment of a mortgage loan or the payment of rent, you can also have other current loans. Based on these two elements, the lender can determine how much you can put aside on a monthly basis. You could therefore also spend this amount on the loan.

In how much time do I have to repay the loan?

The longer the term of a loan, the lower your monthly amount of repayment will be. Yet it is not always so interesting to spread your loan in time as long as possible. The interest you have to pay will then be higher. This is because the lender calculates the interest on the outstanding capital.

On the other hand, the legislator has imposed a maximum period for certain loans. This is the case, for example, with the personal loan or consumer credit. The maximum period in which you have to repay your loan is determined by the amount you have borrowed. For example, with a loan of EUR 7,501 you will have to repay this amount within a maximum of 48 months. That is 4 years. A residential loan is not allowed in practice for more than 30 years. That is because the mortgage registration and therefore the lender’s privilege automatically disappears after 30 years. With a mortgage loan, the term therefore varies between 10 and 25 years.