Two loan documents state different initial instalments. The cheaper sheet is therefore not necessarily the better offer for you. The loan amount, term, fixed-rate period or required ancillary services may differ. A sensible comparison therefore begins with the common assumptions and the question of which document you actually have in front of you. The ESIS information sheet can be an important source of information in this regard.
Distinguish between information and a binding offer
The Hypothekar- und Immobilienkreditgesetz provides consumer-tailored pre-contractual information on the ESIS information sheet in § 8. § 12 also governs the binding offer and the draft contract. These tasks are connected, but not identical. [HIKRG] Whether you already have a binding offer and which conditions apply must be clarified on the basis of the specific documents.
Our editorial recommendation: Note the document type, creation date and the personal details on which it is based on your comparison sheet first. Assign each sheet to the relevant project. An example online calculation with different own funds should not be treated as a direct alternative to a personalised offer. Ask if the basis of the calculation is unclear.
Bring both offers to the same starting point
Write down the planned financing amount, actually available own funds and the intended disbursement schedule. If these data do not agree, the comparison should make the deviation visible. A lower loan amount often leads to a different instalment under otherwise identical conditions; this is not yet proof of more favourable contractual terms.
Example, fictitious: One offer assumes a loan of 280.000 euros, the other 300.000 euros. Additional works are financed in the second. If you only compare the monthly instalment side by side, you are evaluating two different projects. The household should therefore first clarify which works and incidental costs are covered in the same way in both variants. Only then should the further calculation be compared.
Read interest only together with period and repayment
Note how long a stated interest rate is intended to apply and what adjustment is planned afterwards. Separate nominal interest rate, annual percentage rate and the stated total amount. If you do not understand why a figure differs, ask for an explanation based on the costs and assumptions actually recorded. Avoid a comparison in which different terms are equated merely because the same percentage figure is used.
A complete payment plan can additionally show how outstanding debt and repayment develop. A pleasantly low initial instalment does not yet explain the remaining burden at the end of a fixed-rate period. Under variable conditions, assumed future values must not be treated as guaranteed developments. This article does not provide an interest-rate forecast or a personal credit decision.
See ancillary services and your own expenses in full
Ask which additional services are required for the specific offer and which costs are included in the figures shown. At the same time, note expenses outside the loan comparison that your project actually requires. A complete financing requirement and a standardised information sheet are not automatically the same list.
Our editorial recommendation: Mark each item as covered, estimated or still open. An unresolved amount should not be given an arbitrarily precise value. A concrete follow-up question to the bank can therefore be: "Which service is included in this total amount, and which additional expense must I plan for separately?" That is more helpful than a blanket question about hidden costs.
Do not compare changes only orally
If the loan amount, term or other essential features change, file the updated document as a new version. Keep the previous version, but do not inadvertently continue to use it as current. A later explanation also belongs to the document status to which it actually refers.
In the end there is a short list with the same initial assumptions, explained differences and conditions still open. Share this list with the advising party and have anything you do not understand clarified before committing. The information sheet supports the decision; it does not replace your own household calculation or individual financing advice. A suitable choice takes availability, repayment and remaining reserve into account together.