Feedback on financing offer requested

Hello everyone,

I would like your feedback on our first financing offer. :)

Building Savings Offer
Building savings amount: 369,000 euros
Total term: 30 years and 9 months

1st Phase
Savings period 14 years 11 months
Credit interest rate: 0.10%
monthly savings rate 772.00 euros
Building savings credit at the end of the savings phase 134,873 euros
Contract fee 3,690 euros
Additional fees 15.00 euros p.a.; plus 369 euros one-time

2nd Phase
Start of repayment phase 01.07.2031
Loan term 15 years and 10 months
Loan amount 234,126.96 euros
Fixed nominal interest rate 2.00% per year
Effective annual interest rate 2.44% per year
monthly rate 1,476 euros
Special repayment options at any time in any amount
Outstanding debt at the end of the loan term 0.00 euros

We can hardly believe our eyes: interest payments made at the end of the repayment phase 40,738.87 euros

Can this be true? Where is the catch or should we just go for it :D?
By the way: our desired rate is 1,100 euros

Thanks and regards,
housedreamer

Well, that can be the case. But it's only half the truth.
Of course, you still have to add the interest from the repayment deferral of the first 15 years.

And with your home savings contract, you have a repayment of about 5.5%.
If you make this repayment with a classic annuity loan, your interest payments won't look much different.

And the second point:

btw: unsere Wunschrate liegt bei 1.100 Euro

monatliche Rate 1.476,- Euro

Doesn't quite add up, does it?

You want to build in 15 years and are already requesting financing? Or why else is there no interest rate for the first 15 years?

You want to build in 15 years and are already asking for financing? Or why else is there no interest rate for the first 15 years?

Certainly a preliminary loan that is repaid through the building savings contract, right?

Sorry:rolleyes: here is the follow-up

3. financing component
15 years
effective 1.81%
nominal interest rate 1.78%
installment 547.35 Euro
special repayments 5% once annually
interest payments made 96,880 Euro

As long as there are no children, we can manage 1,500 per month.

Thank you for your quick feedback

The question is how high the interest rates are during the savings phase. I suppose around 2%. That would be about [Fa. 100.000€] interest for the first 15 years. That would also roughly fit your desired rate of 1100€ (770€ savings + 330€ interest).

For me, not a particularly good offer, even with 100% financing. Bauspar contracts are in my opinion especially attractive with short terms. We had an offer with 1.25% nominal interest, or just over 1.5% effective. However, the term was only 20 years.