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by volkerp
1985 days ago
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Bought an apartment in Germany this year. My effective interest rate is 0.74% fixed 20 years with a downpayment of 40%. The bank guy said the bank will make no money on this loan. They do it anyway because they want the object in the portfolio.
Inflation in the housing market has been tremendous in the last years in germany. |
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Ha, I believe that the guy told you that, I don't believe he is correct. :) The bank is not a non-profit and is totally making money on that mortgage. A considerable margin in fact, given how much effort goes into it.