Construction financing for an existing property

4200 net for two is not much... I hope it's irony

That's already pretty good especially since there are extra payments on top as mentioned above

I would also take the Vermittler card and then take whatever lets you sleep best, you'll be done long before your retirement anyway ;) good luck!

Conditions are difficult right now as they are very volatile. But that doesn't sound completely wrong. What are your planned rate and remaining debt? With the high equity, it should be under 100k in 10 years anyway. A full repayment might also make sense here?

We have also considered full repayment, but of course we are not 100% sure about it. If we do full repayment, we pay higher interest for about 18 years (without special repayments) or am I misunderstanding that? If we take a rate of about €1300 for only 10 years, we are under €100,000. With special repayments of about €5000, we would then be at about €40,000 to €50,000.

Before you check the banks one by one, get yourself a financing broker. Everything else is unnecessary extra effort. He will advise you properly. Currently, with your data, you would get a nominal interest rate of 3.64% for 15 years. 10 years 3.47%.

Yes, you are right, the conversation is taking place tonight. Our house banks promised us a quicker appointment. Unfortunately, we have to hurry a bit because we are not the only interested parties. However, if we get a certificate from the house bank that financing is not a problem, the house will be reserved for us and we can find the best financing partner in "peace".

4200 net for 2 is not much, but with the house price probably in the middle of nowhere. If you have saved that much, why repay less now, or was the apartment rent-free until now? When children come, it will be tight unless the salary is unevenly distributed

€2300 M €1900 F and yes we live in the middle of Thuringia and yes we also pay rent :) (€594 warm for 82 m2) :P but as I said, no children are planned.

For full repayment loans, there is usually a small discount on the interest rate. If you make a full repayment in 15 years, for example, that would definitely be an option. That way, you don’t need to worry about follow-up financing. Follow-up financings under 100k are generally only moderately popular with banks and are often charged with a surcharge. The work for a loan is more or less the same regardless of the amount. Basically, you are in the range of what other people plan for follow-up financing or even below that. That’s why I would seriously consider fixing it now until the end. A rate of €1300 would personally be too low for me given the current interest rates and also considering your previous savings rate of well over €20k per year. Instead of calculating a €5000 special repayment, I would simply increase the rate accordingly. That way, it will actually be repaid and not used for other things.

I can only agree with . If you have paid off the 120,000 over the last 4.5 years through regular saving from your normal salaries and bonuses, and there were no larger monetary gifts involved, then that corresponded to an average of 2,200 per month.

If you then assume a rate of 1,900 euros, the loan of 200,000 euros will be paid off after 10 years and 5 months.

If you then set a rate of 1900 euros, the loan of 200,000 euros is repaid after 10 years and 5 months.

But if you are out of the teenage years (under 30) at some point and want to live well, I would never tie myself to such a rate. And that without necessity.

Hello,

I would rather suggest 15 years full repayment here, it would then be somewhat over €1250 monthly but with no interest rate risk.

Alternatively: 10 years fixed + work with special repayments, then it is also relatively well payable (4% repayment + 5% special repayment, and you are done in 10 years)

currently, interest rates are moving slightly downwards, i.e. possibly wait a bit, then you can get slightly under 3.50% for 10 years