Construction financing loan repayment

Yes, even my financial broker did not pay attention to the smaller loan of mine. The full installment started on the specified date, although at the beginning I naturally had a higher repayment portion since not everything had been drawn yet. But it did surprise us. However, since it was the smaller loan, it was not so bad.

It is common practice to start repayment only after full disbursement. However, this is not stated here.

Because only an excerpt is available. The start of the repayment period is certainly defined in another section, specifying exactly when that is. It would not be unusual to have, in addition to the full disbursement, a repayment-free first year.

At what conditions were you finally able to close?

We got 3.09% for 20 years.

Yes, even my financial broker did not pay attention with the smaller loan of mine. The full installment started exactly on the specified date, although at the beginning I naturally had a higher repayment share since not everything had been drawn yet.

Same here. I didn't expect it, but as a DINK it luckily only affected the savings rate. The positive aspect was the higher repayment - strictly speaking, I should now save a few euros in interest over the term.

You just have to factor it in or renegotiate if the installment cannot be managed alongside the rent.

Because only an excerpt is available. The start date of the repayment is certainly defined in another section, specifying exactly when that is. It is not uncommon to have a repayment-free first year alongside the full disbursement.

Nowhere in the contract is it mentioned when the full disbursement takes place. Only a date is given by which I must fully draw down the loan.

It is common practice to start repayment only after full disbursement. But that is not stated here.

Just as a thought experiment. Until 30.10 we only draw 25 thousand or 0 euros, since construction starts mid-October and certainly no invoice from the construction company is yet available.

So I pay the full installment for 0€ or 25 thousand? That’s nonsense.