Primaora
2011-01-05 18:31:05
- #1
Hello!
This spring we want to build a single-family house. In total - taking our own capital into account - we still need €250,000.
How is this financing option viewed:
We want to finance €94,000 through a KFW loan, €156,000 through an annuity loan from Ing-Diba, each with a 15-year fixed interest rate. At the same time, but independently of this, we want to pay into a home savings contract with €220 per month, which should be ready for allocation after 15 years. We want to pay the remaining outstanding amount from the loans with the home savings loan, then repay the home savings loan over the following years (depending on special repayments made beforehand, but no longer than 10 1/2 years). According to the calculation of our financial advisor, we should have paid off all liabilities by then. Advantage: The interest rate is fixed until the end - beyond the 15 years - through the conclusion of the home savings contract.
Are there any concerns about this type of financing?
Thank you very much in advance for the help,
Primadora
This spring we want to build a single-family house. In total - taking our own capital into account - we still need €250,000.
How is this financing option viewed:
We want to finance €94,000 through a KFW loan, €156,000 through an annuity loan from Ing-Diba, each with a 15-year fixed interest rate. At the same time, but independently of this, we want to pay into a home savings contract with €220 per month, which should be ready for allocation after 15 years. We want to pay the remaining outstanding amount from the loans with the home savings loan, then repay the home savings loan over the following years (depending on special repayments made beforehand, but no longer than 10 1/2 years). According to the calculation of our financial advisor, we should have paid off all liabilities by then. Advantage: The interest rate is fixed until the end - beyond the 15 years - through the conclusion of the home savings contract.
Are there any concerns about this type of financing?
Thank you very much in advance for the help,
Primadora