Error in financing?

Again: NO! Not many do!

More than before, yes. But even if I double 3%, 6% is not many.

Bank clerks or employees of the financial sector are not necessarily always the best advisors. And what about former bank clerks? Of course, I know what you want to say, but a professional qualification is not lost that easily. They are only part of the whole. Or did they all build without equity? I can't really imagine that. Besides, every case is unique and individual.

Have you ever been to a bank (or better several) and had them give you offers? That would be interesting and helpful for you and more valuable than a real estate agent who does a bit of financing on the side.

The best advisor is to get a comprehensive picture, and you are on the way there.

And regarding the insults here, you should consider whether your behavior is right. Always stay friendly.

and/or have also sometimes worked in the financial sector, former bank clerks, etc...

Since 21.03.2016 there are simply new rules. WIKR is the keyword. The past is irrelevant to you.

Everything used to be different, better, whatever. In the past, bankers could just hand out money like that. Today the machine more often calls the shots.

Moreover, >100% financing used to be quite common.

For example, the share was 15% in 2005, but crashed massively from 2010 to 4.2%, and in Q1 2016 we are at 2.6% (in 2015 3.45%).

So what has your buddy, who is a financial advisor today calculated for you? It doesn't even take 1 hour to fire up his mortgage platform calculator.

3% doubled are 6%, not many.

There are not more. There are fewer and fewer...

It rather goes like this: "yes - of course it's always better with equity and 10 years ago it wouldn't have worked without it at all, but meanwhile many people do it and it's not worth saving first only to have interest rates rise afterward and in the end you have to pay longer when no income comes anymore".

Oh really... seriously? But what do 80% of the people here preach all the time? But those who expect rising interest rates are truly the experts. That’s probably why they also advise a 110% financing with a 30-year fixed interest rate.

The only question is where the rising interest rate should come from.

Security is good. Exaggerations are always bad.

Unemployment benefits, child benefits, etc. included, which would apply in such a case

You assume that you a) receive a severance payment and b) unemployment benefits. Unfortunately, that is not always the case and not permanent. And if your acquaintances say otherwise, there are two possibilities: They know more than we do here or you told them differently. Or they know less because there are enough people who do not fully disclose their own financial situation to their acquaintances. Or they tell you what you want to hear because they know how you react *g*

I spoke with the BHW consultant, which resulted in this thread. The numbers did not come from the home seller but from the follow-up conversation with the lady from BHW or Postbank.

Then I spoke with an old school acquaintance who is a financial service provider, self-employed, and does this kind of thing all day long. Maybe not only real estate, but many home financing deals.

He wants to sell in the end, of course, but pointed out many things I need to pay attention to, etc... for example, what’s problematic about having a building savings contract where you don’t repay immediately compared to direct repayment, and also where this BHW lady gets some commission and that there are no special cooperation conditions, but it is presented like that, blah blah...

He prepared other scenarios for me, tending towards a 20-year annuity loan; then the fixed interest period ends simultaneously with the KFW one, plus the scenarios with building savings contract for after that or without, and with a lot or only a minimum amount of private loans alongside because of the 100% financing. Both have advantages and disadvantages.

Where do the numbers with over 100% financiers come from? That it is supposed to be declining is something I can hardly believe given the current market situation and how saving behavior has developed – see in my case...