Assess interest rate conditions!

Hello dear forum,

my wife and I are about to build a single-family house in Münster-Amelsbüren. Today we signed the loan contract and received the following conditions.

160,000€ at 2.49% nominal, term 30 years, repayment 2.25%, 5% special repayment / year, 12 months no commitment interest, Münchener Hypothekenbank
In addition, we are receiving Wfa funds from the NRW.Bank in the amount of 133,000€.

What do you think of the above conditions?

Greetings Tobias

If the special repayments are to be used, then the conditions are probably too expensive because there is no reason for the long fixed interest period. If the option for special repayment is not to be used, the conditions are probably also too expensive because the possibility of special repayment means an interest surcharge. It's just the all-inclusive package.:D

@ Musketeer: I need all-round care-free :-)

If you have already signed, the question is quite pointless, isn't it? Or do you now want to give yourselves a bad feeling. There will always be someone who thinks it is too expensive.

Then at the current time, it is exactly the right decision for you.

In 17 years you may have already paid everything off through special repayments, then in retrospect it was probably the wrong decision to choose such a long fixed interest period. Just as well, interest rates could drop another two tenths next week. Then it was also the wrong decision to sign this week already. But in retrospect, one is always wiser.

We signed the financing 3 years ago and with a 15-year fixed interest period we are quite a bit above your conditions. But I don't regret it, because for that we have already been living in the house for 1.5 years.

So if you signed the contract today, then be happy, check that topic off your list and focus on the other topics. There are plenty when building a house.

Yes, that's exactly how I think too! What's the point of regretting it afterward, it only ruins the nice evenings at home.