Construction financing with parental allowance - 1 income

Hello,

we are planning to take out a construction loan (new build) and after initial contacts with banks, parental allowance has become a problem.

We normally have around €2500/month available with employee income and child benefit.

Currently, however, we only receive parental allowance. The banks calculate with high monthly living costs and therefore we cannot get a loan from them.

Are there banks that calculate differently?

Regards Billiger

You now have 2500€ while you receive [Elterngeld] or when you both work full-time again? Also, the [Elterngeld] is limited in time, what if for whatever reason you cannot go back to work immediately when you no longer receive [Elterngeld] because, for example, you have no other childcare for the child? Then you have even less money available and I think the bank also takes things like that into account.

Are you now receiving 2500€ while getting parental allowance or when you both work full time again?

We are now getting just under 1800€ and "actually" 2500€ with one employee salary.

Do you mean a Mafia Bank0? How do you expect to get by with 3 people + installments with 1.8? That’s barely enough even without credit (as long as you don’t eat a can of Aldi soup every day). Do you have equity?

Equity amounts to just under €190,000.