Bank + subsidized loans term planning

Hello dear community,

I am currently working my way through a possible real estate financing again and have come across some questions.

Background: We see 1-2 opportunities on the horizon to acquire a building plot.
For a new build, we would be entitled to two different promotional loans and would additionally have to take out a bank loan. This results in the following components:
(1) KFW Home Ownership for Families (165k€, 35-year term, 0.97% interest, up to 5 years interest-only, 10 years fixed interest); of course, we are aware of the corresponding requirements
(2) IFB Home Loan Hamburg (150k€, repayment at least 2.5%, 2% interest, 1 year interest-only, 15 years fixed interest)
(3) Bank loan (approx. 400k€, repayment X%, approx. 4% interest, immediate start of repayment, X years fixed interest)

Question 1:
How would one ideally structure the bank loan so that it fits best with (1) & (2)?
In particular, regarding the fixed interest period of the bank loan, I wonder whether I should synchronize it with the fixed interest periods of the promotional loans.
For example, I could choose a 10-year fixed interest period to refinance the bank loan + KFW loan together (IFB is a subordinated loan).
Am I correct in thinking that, for example, a 20-year fixed interest period would be less sensible here because I would then have to refinance each individual component separately again after the fixed interest period? Or would that actually be an advantage because then I would refinance a partial loan every approx. 5 years and thus the risk of rising interest rates (and the resulting increasing rate) would be somewhat lower?

Question 2:
My approach would be to make the term (or repayment) of the promotional loans as long as possible and to fully utilize the interest-only period. This way, the "full" rate would only come into effect in year 6, and by then our children would all be in school and my wife would also have a predictable (part-time) income again, so that the rate would be much easier for us to manage.

I have deliberately omitted the details of the project, income, expenses, etc., as these are not to be part of the discussion.
I am more interested in understanding how to sensibly put together and structure such a "loan portfolio".
Looking forward to your input.

Best regards!

I would be interested to know how one can simultaneously obtain a loan from the NRW.Bank and a Hamburg promotional bank?

I would be interested to know how to get a loan from NRW.Bank and a Hamburg development bank at the same time?

Not at all. But the OP is not applying at NRW.Bank at all, but at KfW ;-)

Mea Culpa, I did not read carefully enough. Pardon.

The details about the project, income, expenses, etc. I have deliberately left out now, as these should not be part of the discussion.

If it is supposed to work without, I would…

and fully exploit the interest-only period.

… exactly avoid something like that. It has the disadvantage that you waste the years and cannot make them work for yourself by also being able to get rid of the debt sometimes. I also find 5 years quite cheeky, so too long… in my opinion that is far too long without repayment. €130, which for 60 months, before you can serve the loan. What is preventing €250 monthly from flowing into the repayment? Interest-only period is no blessing, especially as everything else is also calculated tightly, limited, and on the edge. And yes, the different terms are not great. Usually, it makes sense if you already know that in 10 or 15 years a cash flow can pay off a loan after its term. Apropos: what happened to the idea with the parents? Financing €700,000 is no small matter.

Warning, layman’s knowledge. As far as I know, after 10 years from full payout you always have a special right of termination, regardless of how the fixed interest period was. (With a 6-month notice period or so, so even a termination of a 20-year loan would be possible about 10 years and 6 months after full payout). If you want to refinance in 10 years and interest rates are currently way better, then you can possibly also terminate a loan that actually runs longer and repay it at the same time. It might not be exactly finished at the same time as the termination, but if it’s only a matter of a few months or maybe a year, I believe it can usually still be combined (for example by the new repayment loan having a forward portion. Especially if they thereby move into first rank, banks are not so averse to that). On the one hand it’s unfortunate, on the other hand not so unfortunate, if the interest rates are higher in 10 years instead and you actually don’t want to refinance and have components with different terms. “On the one hand unfortunate” because it makes refinancing initially more complicated. Maybe the individual amount of the loan that is currently running out is already too small to get decent real estate loan conditions. Maybe the first rank is still occupied by the longer-running loan, which limits bank selection. “On the other hand not so unfortunate” because the longer-running loan can simply continue at the cheaper conditions. Therefore, just regarding “fits with the rest” I would say: It basically doesn’t matter, you already have different terms anyway? We only had one loan but looked at how the outstanding debt is after the fixed interest period ends (also keep in mind from when repayment begins. As far as I know, the fixed interest period already starts running from contract conclusion (?) -> in case of doubt ask the advisor again. In new builds you usually don’t repay yet because not everything has been drawn, when calculating we always subtracted about a year and that is probably still too little as of today). And we just felt more comfortable with at least 15 years. I actually hope that interest rates will be lower in 10 years and that it turns out to have “not been necessary” – but if not, we just have a few more years to wait and simply keep it running and repay and see if the situation improves.