110% financing in one or two loans?

Which numbers do you need exactly?

- Purchase price - Additional costs - Planned measures (and costs) - Possibly other costs (Subtotal "project costs") + Equity capital (in the sense of: cash check, this much money you have available.) + Disposable income With these numbers, you can determine the external capital requirement and estimate whether that could be feasible for you. To then discuss loan options: - Loan amount(s) - Interest rate - Fixed interest period - Initial repayment or annuity or planned term - Effective interest rate

I just wanted to post an update or the "final result" because I often miss this in other threads where many people have participated.

We ultimately decided on the following option:

€219,000 purchase price -> financed 100%
Mixed interest rate 2.6%, €970 installment, full repayment, 30-year term, component 1 drops off after 25 years, afterwards the installment is around €400, after 30 years €0 remaining debt
Prepayments possible anytime, up to 10% annually

€26,000 ancillary purchase costs -> financed with a consumer loan
Interest rate 2.99%, €300 installment, 8-year term
Prepayments possible anytime

The numbers are rounded for simplicity.

Next year a home savings contract matures, the profits of about ~€15,000 we want to use largely for the prepayment of the consumer loan to significantly shorten its term.

We kept our equity because, as mentioned, we want to use it for the renovation, landscaping including fences, the kitchen, as well as our upcoming wedding, and additionally keep a buffer for unplanned costs such as a broken heating system.

For us, this was the best solution and we are very satisfied with it. We are with a local bank and were advised there by my brother-in-law. In my opinion, he is not only very trustworthy but also in our age group and therefore will be available as a contact person for a long time if he should have given us bad advice — just kidding, there is absolutely no reason for such speculation.
The total costs, despite the 2.99% consumer loan, are significantly (!) lower than those of the much-praised providers like Interhyp and Dr. Klein. The cheapest offer from Dr. Klein was €30,000 more expensive.

Congratulations, but personally I wouldn’t want such a high interest rate over the term. However, that’s because I have to borrow almost twice as much! What is the overall blended interest rate and is the loan enough for you? How high is the repayment?

Thanks for the update. Something like this is unfortunately rare here.

You, I can understand that, Our local Sparkasse had also made us an even better interest offer (surprisingly, with no equity at all, right?), but with "only" 15 years fixed interest and therefore residual debt. I might have taken the "risk," but my boyfriend considered interest rate security and full repayment over the entire term very important. What do you mean by whether the loan is enough for us? Whether the €26,000 is enough to cover the incidental purchase costs?

You, I can understand that, Our local Sparkasse also made us an offer with even better interest rates (surprisingly, without any equity, right?), but with "only" 15 years of fixed interest and therefore residual debt. I might have taken the "risk", but my boyfriend considered interest rate security and full repayment over the entire term very important.

What do you mean by whether the loan is enough for us? Whether the €26,000 is enough to cover the incidental purchase costs?

Oh, it is already in place, then everything is fine. You can manage the renovation costs yourselves.

You have a building savings contract that is fully paid off but are taking out a loan? Last year there were no prepayment penalties anymore.