Construction financing is available

Hello,

I received the offer for our financing from the bank last week.
Beforehand, the bank advisor had advised us to definitely obtain other offers, but I was so impressed by the conditions that I am unsure if that is even necessary.

The financing is as follows:
Financing requirement: 385,000

The offer has 2 components.
1st component:
Loan amount: 300,000
Interest rate: 1.36%
Fixed interest period: 15 years
Repayment rate: 3.55%
Special repayment: 5%
Monthly rate: 1,227.5

2nd component:
Loan amount: 85,000
Interest rate: 0.97%
Fixed interest period: 2 years
Repayment rate: 2%
Special repayment: -
Monthly rate: 210.38

The 2nd component comes about because we currently still live in our [ETW].
The 85k is the minimum the advisor expects in "profit," it could certainly be more. As soon as the apartment is sold, the loan will be repaid immediately. Therefore, it is actually rather unimportant.

I find the 1st component very good. Low interest rate, good repayment rate, finished in 25 years without special repayments.

Is there anything to criticise about this or can I sign it with a clear conscience?
I have another offer with a [Riester-BVS], but honestly that is too opaque for me and I already have a [Riester contract] that has been maximally funded for about 10 years.

Thanks in advance for your assessments.

My follow-up financing was a few months ago, but I find the interest rate pretty nice and would sign it immediately :) But wait and see what the others say (although I would be surprised if anyone had anything to complain about).

Sounds nice. Chance of KFW or included?

Currently without KfW. I am still waiting for the surcharge for Kfw55 to see if it pays off with the interest savings and the repayment subsidy. I don’t know why he didn’t include the KfW124, but I will ask again. So as it stands now, purely with bank funds.

I don't think the KFW 124 is that great. There is no option for special repayments and the interest rates are not lower either. We took it back then because of the repayment-free start-up years, but if you don't need that, I wouldn't include it.

Honestly: Sounds great, the offer. I would go with that. Of course, you can still compare, but overall it's really good.

I might consider taking a cap loan with a short fixed interest period for module 2 instead. That would make you a bit more flexible. With the current option, the bank might insist on a prepayment penalty for module 2 if you sell the apartment, for example, after one year instead of two. Or you explicitly have the waiver of the prepayment penalty included.