Musketier
2015-01-08 18:32:09
- #1
I have not read all the posts and therefore do not know if the special repayment of 5000€ is made consistently. If so, then you probably have a calculation error in there.
12x735€=8820 rate/year
Special repayment = 5000€/year
that makes a total payment of 276,400€ in 20 years minus your calculated interest of 52,680€ equals 223,720€ principal repayment, although you only took out 200k€. According to my calculation, you would already be done after about 18 years with approx. 47k€ interest costs.
That fits.
12x993.33€=11,919.96 rate/year
Special repayment = 5000€/year
that makes a total payment of 338,400€ in 20 years minus your calculated interest of 56,178€ equals 282,222€ principal repayment, although you only took out 250k€. According to my calculation, you would already be done after about 18.5 years with approx. 60.6k€ interest costs.
You forget that the annuity loan also wants to be repaid.
Example with your assumed 250,000 €:
Annuity loan: 200,000€
Nominal interest rate: 2.41%
Repayment: 2%
annual special repayment assumed: 5,000 €
Term: 20 years
results in: monthly burden of 735.00 €.
Remaining debt after 20 years: 26,280.74 €.
12x735€=8820 rate/year
Special repayment = 5000€/year
that makes a total payment of 276,400€ in 20 years minus your calculated interest of 52,680€ equals 223,720€ principal repayment, although you only took out 200k€. According to my calculation, you would already be done after about 18 years with approx. 47k€ interest costs.
The KFW loan could be repaid with 265.00 € at a maximum monthly burden of 1,000 €.
I calculated with 1.25% KFW as well as a repayment of 5% with a term of 10 years and a loan volume of 50,000 €:
monthly rate: 260.42€
Remaining debt after 10 years: 23,386.05 €.
KFW follow-up financing:
I assume the following here: nominal interest rate of 4.5%, repayment 7.5%.. although the bank will have a say in this.
Monthly repayment rate: 233.86 €. Remaining debt after 10 years: 1,286.51 €.
That fits.
If I now compare a pure annuity loan it looks as follows:
Annuity: 250,000 €
Nominal interest rate: 2.41 %
Repayment: 3.55 %
without special repayment!
monthly rate: 993.33 €
Remaining debt after 20 years: 17,778.28 €.
12x993.33€=11,919.96 rate/year
Special repayment = 5000€/year
that makes a total payment of 338,400€ in 20 years minus your calculated interest of 56,178€ equals 282,222€ principal repayment, although you only took out 250k€. According to my calculation, you would already be done after about 18.5 years with approx. 60.6k€ interest costs.