Construction loan from the bank - Do we have chances?

Hello, I registered in this forum to learn something before visiting a bank.

I am 29 years old and earn 1800 net, my wife about 800. We have a son.

Currently, we still rent, but we definitely want to buy a house.

We were thinking of a small, cozy terraced house, we have already found one, it costs 155,000 euros, is 100 sqm, and it doesn’t need much work anymore. At most about 1200 euros at first...

We have a total of 12,000 euros available.

Do you think that would work? My parents might still support us a bit, we haven’t talked about it yet.

I would like to hear your opinion, best regards.

Hello,

yes, that could work, provided you have no further payment obligations for other loans or installment credits and your Schufa is in order.

The monthly payment is then around 658 EUR and should therefore be feasible at a rent-like amount.

Please feel free to contact me if you need a more detailed financing plan.

Best regards

M. Thiemann