Error in financing?

Thanks for the answer. I still stick to my opinion. Loans that are paid off after 4.5 years and the resulting amount can very well be used permanently for my house, but they have had nothing whatsoever to do with the lifestyle led at that time or had any relation to it in recent years.

yes exactly, you can provide the proof in 4.5 years

You just don't want to understand, do you? I don't even know why I'm trying to explain it again in different words. There was a reason why you took out loans. Excluding student loans, the reason was that you wanted to afford something for which you had no money. So a loan was taken out. If you put the money freed up from the loans into a 30-year mortgage, what will you do when you want to acquire something bigger? Save the money beforehand? But from what, presumably not much money is left over each month. A new loan? This would increase your monthly fixed costs even more. What many estimate as the result is impending over-indebtedness, precisely because you have not learned to handle money.

You just don’t want to understand, do you? I don’t even know why I’m trying to explain it again with different words.
There was a reason why you took out loans.
Except for student loans, the reason was that you wanted to afford something for which you had no money. So a loan was taken out. If you put this freed-up money from the loans into a 30-year mortgage, what will you do when you want to buy something bigger?
Have saved the money BEFORE? But from what, probably not much money is left over monthly. New loan? This increases your fixed monthly costs even more.
What many consider the result is the impending over-indebtedness, precisely because you haven’t learned to handle money.

That is also called a debt spiral, Henrik calls it targeted saving

@all
Calm down again and keep your feet still.
He has made his position (more or less) clear. We have communicated our point of view to him several times and pointed out potential dangers in his calculation. We have also written to him quite clearly that we have our doubts that he/she can sustainably change their lifestyle (by 180 degrees).

Now has to deal with this information himself.
We do not need to (for certainly well-meaning reasons) beat him up.
If thinks that AFTER paying off his loans (whenever that is), he can permanently manage this project, then he has to approach it accordingly in the future.
He is not stupid, not slow-witted, and not a child. He asked for opinions here and received them. Now he has to draw his own conclusions.

Yes – if the loans are paid off and you add your rent, you should be able to afford a rate of 1,500 euros + 500 euros ancillary costs.
The doubt that many (including me) expressed here still exists with US and was well summarized again in post #198 by . Generally speaking, you have spent your entire income every year so far. What you could not afford directly from income was financed by credit (wedding). You want to move away from this way of life from now on.

This is very difficult. PS: Does your wife know this as well?

In addition, you are planning a (second) child, which means that at least for a while one income will be significantly reduced (the idea that with 2 children both parents go back to work full-time remains an illusion for most). (I hope I am not confusing the thread now, but I am not going to read through the >200 posts again).

I wish you that everything in your plans turns out as you imagine. I can and will not write more in this thread. Everyone is the architect of their own happiness and must live with their decisions. It is/was good that you sought advice. Maybe you were able to take something away. You have to deal with the information received and the corresponding consequences. We/can I cannot help you with that.

Thanks again for the last answers, I hadn’t seen them before. Back to the actual topic of evaluating a financing offer, assuming that part is settled, whether one can afford it or wants to.

What’s bothering me right now is the fact that I have received a clear construct through BHW in connection with the developer, I see all costs and can therefore also calculate what the whole construct costs me in total, how long I will pay what, etc. (except for the remaining sum after KFW funding, here you depend on the then prevailing market interest rate, unless repaid beforehand).

Someone independent now says that none of this is good because of the payment deferral in the first 15 years with the home savings contract (although it is absolutely not a huge sum you pay on it compared to direct repayment), but cannot provide a clear counteroffer. This should all be much, much easier – in the end, it is always a term X, the interest rate depending on that, and then the remaining sum with interest rate risk.

Since I want to avoid interest rate risk if possible, doesn’t that scream for a home savings contract?

Again, the conditions if I leave out KFW, etc., with a request for a sober evaluation if one could actually get it like that in the end:

1. 100k home savings contract, 1.35%, 15 years, no repayment, then 2.35% from allocation. Depending on how much one saves directly, it could then be only 11 years from allocation with significantly higher installments (or splitting and for example 70% goes into allocation and 30% differently, financed longer) or also e.g. with higher installments in the first 15 years and then no increase in the installment for another 15,16 years to keep the installment constant.

2. Everything identical, sum 205k (or more), 1.9%, 15 years, no repayment, then as in 1) 2.35%.

I find this very understandable now and can calculate everything. Is this still not a good product and could it be done much better?

As an alternative, you could for example have a 20-year fixed interest rate, but that is firstly not low and secondly leaves a really large sum open, so that at 4% and more it is directly significantly worse overall than in the above alternative.

Opinions?

do it

Don't do it. Choose a 15-year fixed period and a higher repayment.