Building a house without equity

I just wanted to mention that you can't categorically say that financing without equity is not okay, risky, etc... It depends on the income and the overall situation. But unfortunately, 2700 euros is clearly too little.

Yes, that's true, I noticed that too. The desire to have children takes priority, which is why there is only such a small income. It would be crazy otherwise. I also want to be able to provide something for my child and not always have to say no because you can't afford it.

Our financer got back to us with a 10-year fixed interest rate. 940 euros per month sounds fantastic, but afterwards there are still over 230,000 euros of debt left. That's crazy. He also mentioned a building savings contract (probably for the next commission), but I simply can't afford that during parental leave.

Thanks again for your honest words.

Our financier has come back with a 10-year fixed interest rate. 940 euros per month sounds fantastic, but after that there are still over 230,000 euros of debt remaining. That's crazy. He also mentioned a home savings contract (probably because of the next commission), but I simply can't afford that during parental leave.

Hello, the option with the shorter fixed interest rate and "security" through a home savings contract can certainly make sense. But the lower interest rates must then of course be put into higher repayments and the savings for the home savings contract, so that the loan amount is significantly paid off right from the start. If then, thanks to the low interest rate and the high repayment, the remaining amount after the 10-year fixed interest rate period is not much higher than, for example, after 15 years with a higher interest rate, that is acceptable. However, with your loan and installment amounts, this will definitely not be the case. Best regards Jochen