Have 3,800 EUR income, 1 child, no other financing running, permanent employment contract and exactly the 25,000 equity as land. Is that too little for financing 200,000 EUR?
Have an income of 3,800 EUR, 1 child, no other financing running, permanent employment contract and exactly the 25,000 equity as land. Is that too little for financing 200,000 EUR?
Income should correspond to the loan amount. Equity barely covers incidental construction costs. Not to mention kitchen, landscaping, etc. What kind of house should it be for 200,000 EUR? There isn’t much house for that..
I would claim: if you pay less than the standard land value, the purchase price is used. If you pay more than the standard land value, the standard land value is taken. Always safely and in favor of the bank.
Depends on the bank. As I said... we paid more than double and the bank credited the full purchase price.
Have an income of 3,800 EUR, 1 child, no other financing running, permanent employment contract and the 25,000 equity as land. Is that too little for financing 200,000 EUR?
I would also say that this basically fits. For 200,000 EUR including ancillary construction costs, there is hardly any house. Your equity ratio would be 12.5%. The financing would also be possible with that, but personally I would try to increase the ratio to at least 20% by saving or with the help of family. That already makes a noticeable difference compared to full financing. But everyone sees that differently.
I would also say that this basically fits. For 200,000 EUR including incidental construction costs, there is hardly any house available. Your equity ratio would be 12.5%. You could also get the financing with that, but personally I would try to increase the ratio to at least 20% by saving or with the help of family. That already makes a noticeable difference compared to full financing. But everyone sees that differently.
Equity ratio 12% that is the usual cosmetic calculation. Your equity ratio is (at best) 0%. More like less. Why? Because you need the 25k for incidental construction costs and the bank has to fully finance the house. Loan-to-value therefore 100%... rather higher
1. This is not about me.
2. My answer also referred to the assumption that the 200,000 include the incidental construction costs.
3. The reference that there is hardly any house for this.
4. "Läge" is subjunctive.