Assessment of financing condominium in Düsseldorf - Thank you!

Hello everyone! Unfortunately, I am not very familiar with construction financing and also do not have any experts in my circle of acquaintances. Therefore, I would appreciate a brief assessment. We want to buy an apartment in Düsseldorf. Almost 80 sqm.

Including additional costs, we are looking at a purchase price of just under 260,000 euros. Equity of 35,000 euros will be used. One offer now offers us 2.17% for 15 years. A second one 2.6% for 20 years. Both can still be optimized.

Today, a two-part offer came through the financial advisor: 2/3 of the amount for 2.17% for 20 years (initially only 1% repayment) 1/3 for 2.04% for 15 years (5.5% repayment, paid off after 15 years) (effective interest rates, special repayments and repayment rate can be adjusted 3 times free of charge). Approximately 850 euros per month.

After 15 years, only one loan would remain to be repaid. What do you think? There are two of us with a net income of 3200 euros, but unfortunately we are part of the generation of fixed-term employed academics in the public sector. Therefore, not every bank makes us an offer.

New building? Old building?

The consultant from the last offer deserves to be tarred and quartered! Absolutely irresponsible...

Can you be a bit more precise about your private situation and everything surrounding it? With a temporarily employed academic at that salary, I can imagine quite a lot and yet nothing conclusive.

Many greetings from the end of the S28 from Kaarst.

Btw... there are banks in the Düsseldorf metropolitan area where you should be able to get well below 2% for 15 years.

Hello!
At universities, people are often repeatedly employed on fixed-term contracts as research associates for years despite having a Master's degree. One of us at 100%, the other at 50%. Therefore, the total net salary amounts to 3200 euros. Some banks are familiar with this practice and would grant us a loan despite the two fixed-term contracts.

Why is the offer irresponsible?

Additional costs including commission?
Why exactly this condominium? What are the convincing points?
Do you have a house bank that can get an impression from the household budget.

Otherwise, also inquire at branch banks or nationwide providers such as Interhyp or Dr. Klein.

Nobody needs a financial advisor.

In the two-part offer, the repayment rate of 1% for the main portion of the financing is FAR too low. At the current interest rate level, this is an almost endless bet on consistently low interest rates. You can certainly divide the financing into two or three components and work with different interest rate locks, but the initial repayment should not be below 2%, preferably 2.5%. Have the financing arranged so that you finish on time before retirement. Also, a free right to change the repayment rate (the more often possible, the better) so that you are flexible (child arrives, one becomes unemployed, salary increases, ...), with which you can then flexibly control the terms. Prepayment rights are probably rather unimportant for your income (no offense intended).