Construction financing without equity as an option?

how does that fit together? And both are supposed to be current?

so the over 2% (60% run-off, 10 years) and 3% (full financing 10 years) = are current the 2.20% over 20 years (2.97% with forward surcharge) = the offer the OP had, how old it is? you have to ask him that.... I simply calculated the forward surcharge out, and with what interest rates the institution calculates without forward surcharge... when the offer is from, I have no idea... so you shouldn't compare the two things with each other....

so the over 2% (60% run-off, 10 years) and 3% (full financing 10 years) = are current

the 2.20% over 20 years (2.97% with forward premium) = that is the offer the OP had, how old it is? you may ask him that....
I simply deducted the forward premium, and with which interest rates the institution calculates without forward premium... I have no idea when the offer is from...

therefore, one should not compare the two things with each other....

Ha, scho...

He writes:

Currently I have an offer of 2.94% for a 20-year term

Then it won't be from October 2021. :rolleyes:

Good morning, and what do today's conditions look like?

That is the crucial question – are the conditions even still redeemable today? To me, they sound quite "old," so my question is also how it looks there. Without these, the answer is clear in my opinion – no chance at that purchase price. How exactly does this "securing" of the interest rates work, and how much time was bridged with it? Signed by the bank, returned within 4 weeks?

But what also needs to be considered – the supposed €700,000 and more for the property are values from the "pre-reunification period." Or is it very close to Hamburg? Based on your data, you can calculate what minimum equity you need so that it still works with your current income. And think about cost increases and unplanned expenses during a renovation – what about a buffer, and what if you have to refinance, for example, €50,000?

The crucial question – how secure are the jobs really? Civil servants or public sector? There is not much that is similarly secure.

Currently I have an offer of 2.94% for a 20-year term

that is probably as current as the other "without equity, so 100% financing from Saturday has an offer of 1.87% for 15 years" ;)

I have often encountered customers who have a quote sent to them, then look at it 1 week later (or 2 weeks later) and then say: I have that, can it get any better???

then I say: accept it immediately.... and 1 day later they show up: "it was no longer valid" because no one looks closely when the bank feels bound to the interest rates ;)

a few weeks ago you could still partially backdate the conditions by 1 week at many banks, but since it can sometimes already make a difference of 0.20-0.30% interest rate, many banks have stopped doing that.

TE probably won't get back to us …. I suspect that unfortunately securing the interest didn't work out

Presumably. Although I find €720,000 with 110% financing already quite a lot. A payment of €3,000 is really a lot despite €6,800 net income. Can you even get that much credit with that income? The jobs should definitely be secure.