At what value is the property assessed during financing?

  • Erstellt am 2016-01-29 09:24:25

alex1304

2016-01-29 11:35:28
  • #1
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?
 

Steffen80

2016-01-29 11:46:03
  • #2


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..

Regards, Steffen
 

Steffen80

2016-01-29 11:47:11
  • #3


Depends on the bank. As I said... we paid more than double and the bank credited the full purchase price.
 

sirhc

2016-01-29 11:58:12
  • #4


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.
 

Steffen80

2016-01-29 12:02:10
  • #5


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

Regards, Steffen
 

sirhc

2016-01-29 12:04:55
  • #6
So:

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.

Hope to have helped.
 

Similar topics
20.07.2011House construction: Equity / incidental construction costs realistic?14
01.05.2013No equity / existing consumer loans / financing possible?11
19.11.2014Financing single-family house - How much can we afford?47
14.11.2013Is financing for construction projects feasible?10
21.08.2014Is financing without equity realistic?19
27.10.2014Fixed interest rate financing without equity?20
18.12.2015Financing unequal equity ratios of unmarried partners24
15.09.2016Financing without equity with security?52
21.04.2016Is financing with land and equity possible like this?20
14.05.2016House purchase: Financing (with/without equity)24
25.05.2016Financing without equity - Repayment / Interest63
20.06.2016Experiences with income from self-employed individuals in financing?12
08.08.2016Financing of construction projects45
29.08.2016Can we afford this? Income / Investment / Equity131
13.10.2020Land available - ancillary construction costs, ancillary house costs, financing?34
10.11.20202 (dream) properties - financing unclear. Save equity?40
01.07.2021Financing / Equity / Granny Flat - Fundamental Thoughts48
06.11.2021Financing land and single-family house near Mainz27
21.02.2022Desired financing possible despite Federal Financial Supervisory Authority hammer, 0 KfW funding, etc.?20

Oben