Construction financing - what can we afford?

spoken (soil class 6 - geotechnical report he has for both

Both architects are right. In geotechnical reports, several spot checks are made in the area of the future footprint of the building. It does not help whether measurements are taken at one point or another if the rock is much closer to the surface just 2 meters away. Only digging and chiseling helps there.

By the way, KFW acts as the intermediary bank. You do not deal directly with KFW.

Crazy stuff... what people always earn. I always thought we weren’t doing that badly
You have 25k € equity with a required sum of 650k € - wow. Do you dare a payment of nearly 3000 €? (that would be 5.5%)

That sounds like a lot, and it is, but it works quite well. We also financed 625,000 euros with 25,000 euros equity, at about 1.9% fixed for 10-20 years. Fixed rate at 2000 euros/month, we do a lot through ST (up to 18,000 euros p.a. possible) to stay flexible. If the household net income fits, why not?

Would be the last to discourage anyone from building (others do that) - but one should really think it over given the amount - so you pay off €2000 fixed and €1500 variable... so a total of €3500. With that amount definitely reasonable.

so you are repaying 2000 € fixed and 1500 € variable... so a total of 3500 €. With that amount certainly reasonable.

The 18,000 ST p.A. is the maximum possible amount, what will be possible year after year remains to be seen

I would be cautious with the soil survey. It can happen that just 1 meter away there is a completely different soil present (Aufschiebung/Abschiebung, Diskordanz).

Hello to those still reading,

In the meantime, we have obtained initial offers:

The local VR Bank offers us a construction loan of 630,000€ at an 2.3% effective annual interest rate, 2% repayment with a 15 year term.

Interhyp brings PSD into play, offering 625,000€ at an 1.57% effective annual interest rate, 2% repayment with a 15 year term, and

Hypovereinsbank, which offers 625,000€ at an 1.74% effective annual interest rate, 2% repayment with a 20 year term.

To be fair, it must be said that at VR Bank, unlike the other two offers, the KfW subsidy is not yet included in the effective interest rate (although it doesn’t exactly make the deal better).

On the same Friday we obtained these offers, however, we also learned that we must reckon with 700,000€, meaning a financing requirement of about 675,000€.