Building savings loan with building savings contract

So, our case is a bit special. I am 42, my wife is 43, a three-year-old daughter. We are both employed full-time. Net income 5300 euros. Child benefit 255 euros. We want to buy a single-family house from the fifties. 2012 - completely renovated. Purchase price 310,000 euros. Equity about 20,000 euros. We know that we have little equity. There are reasons for this. We are foreigners, have been living in Germany for 7 years. Before that, in our country (no possibility to save anything). We both work full-time with a small child and pursue our dream. Due to our age, we no longer have time to save. I will now show pictures with the financing offer from the local bank. Thank you in advance for all opinions and comments!

Personally, I have no use for building savings contracts. Whether this is due to prejudices or because a mixed form of financing always seems suspicious to me, or whether it is because banks are supposed to make a good profit from it and therefore always try to push something like that on you? I think can help you evaluate this. He knows his stuff well.

Sent too early.... So the bank wants security. I know - the advisor gets a fat commission, but I also know - with many banks we don’t get a loan because we need 105% financing.

Were you at a bank or with intermediaries? Some banks only lend up to a certain loan-to-value ratio, and otherwise building society savings come into play. Other banks handle this differently. If you haven't done so yet, definitely go to an intermediary.

This is a Sparkasse. I was also at the broker a few weeks ago regarding another house. There you can also get a loan, but the missing amount for the incidental costs is covered with a private loan with interest over 6%.

This is a savings bank. I also visited the intermediary a few weeks ago regarding another house. You can get a loan there as well, but the missing amount for the additional costs is covered with a private loan with interest rates over 6%.

The interest rate ultimately does not matter if the total offer is cheaper.
The interest rate from home savers always looks great, but since no repayment takes place during the accumulation phase, you always pay the interest rate on the full loan.
This means that with the same interest rate, the home saver is always significantly more expensive. Therefore, always compare both options over the entire term.
In addition, the advantages of the home saver only arise over the term. But if, for example, you want to make special repayments, the term is reduced and the advantage of the home saver applies for a shorter time.