wibble
2020-09-08 19:11:33
- #1
Good evening,
due to the slope of our plot, we have decided to build a granny flat in the basement and rent it out, which is why we now need a loan of 600,000 euros.
More like 550,000, but I want some buffer.
We currently earn 6,000 net per month, plus the bonus/Christmas holiday pay.
Since I am currently abroad for work until 08.10, we can only see a financial advisor after that.
Nevertheless, I would like an assessment of whether we will get a loan and at what interest rates roughly and what options there are to improve the interest rate.
We keep a household budget and currently have about 2,500 euros left per month with rent of 1,550 euros. So basically, the installments are not a problem for us.
We are building KFW 55 and could take advantage of the KFW loan twice at 120,000 euros each, but they only have a fixed interest rate for 10 years.
How did you do it? Building savings contracts offer a bad interest rate, as do forward loans. What about repayment changes so that one mainly repays the KFW first? Of course, this only makes sense if the interest rates of the other loan are not significantly higher.
How do you assess our situation? Do you have any tips?
Equity capital is only about 80,000.
due to the slope of our plot, we have decided to build a granny flat in the basement and rent it out, which is why we now need a loan of 600,000 euros.
More like 550,000, but I want some buffer.
We currently earn 6,000 net per month, plus the bonus/Christmas holiday pay.
Since I am currently abroad for work until 08.10, we can only see a financial advisor after that.
Nevertheless, I would like an assessment of whether we will get a loan and at what interest rates roughly and what options there are to improve the interest rate.
We keep a household budget and currently have about 2,500 euros left per month with rent of 1,550 euros. So basically, the installments are not a problem for us.
We are building KFW 55 and could take advantage of the KFW loan twice at 120,000 euros each, but they only have a fixed interest rate for 10 years.
How did you do it? Building savings contracts offer a bad interest rate, as do forward loans. What about repayment changes so that one mainly repays the KFW first? Of course, this only makes sense if the interest rates of the other loan are not significantly higher.
How do you assess our situation? Do you have any tips?
Equity capital is only about 80,000.