Financing a single-family house approx. 450k - How to implement?

2018-03-10 13:45:12

Firstly, no one said anything about 1% repayment.. It will rather be towards 2%. And if you calculate with an interest rate level of 5% over 10 years, you should perhaps rather recommend not building now but saving and then buying cheaply... Reasonable assumptions are the basis for sensible economic decisions. With solid planning, a loan amount of max. 400k, it is absolutely possible.

2018-03-10 13:46:50

Are you sure about the costs for the house? Do you have an offer or a calculation for that? Otherwise, the following loan calculations are pointless. It feels like the 300k€ for Bavaria might be a bit tight, especially since in Bavaria anything under 180sqm is considered a small single-family house. From our experience with the banks: anything that is not firmly stated in the employment contract does not matter, monthly spikes upwards due to Christmas bonuses/night bonuses/vacation pay were also not considered.

2018-03-10 13:56:22

Firstly, no one said anything about 1% repayment.. It will probably be more in the direction of 2%. And if you're calculating with an interest rate level of 5% over 10 years, you should maybe rather recommend not to build now but to save and then buy cheaply... Reasonable assumptions are the basis for sensible economic decisions. With solid planning, a loan amount of max. 400k is absolutely possible.

- True, the OP would even want to pay less than 1% repayment based on his first post.
- Have you been following the last 4 months? Interest rates have risen by 0.5-0.6%. You should never say never for 10 years. The economy will not go to the dogs if the interest rate rises.
- I am currently building 138 sqm in Bavaria with a basement and outdoor area. All in 530k€, of which 95k€ is land. In Bavaria, you won't get far with max. 400k€ all in.

Let's just leave it at that. I don't feel like responding anymore. We simply have different views. And that's not what this is about here.

2018-03-10 14:12:17

True, the OP would want to pay less than 1% repayment based on his first post. with 20k special repayment per year? - have you followed the last 4 months? Interest rates have risen by 0.5-0.6%. You should never say never for 10 years. The economy will not go to the dogs if interest rates rise. Interest rates rise, interest rates fall, the long-term trend only points in one direction... - Currently building 138 sqm with basement and outdoor facilities in Bavaria. All in 530k€ of which 95k€ land. In Bavaria, you won’t get far with max. 400k€ all in. 400k debt + 65k equity - basement is unlikely with a 300k house. Well, at least the OP hasn’t just heard one opinion...

2018-03-10 15:02:12

Thank you very much for (just) the many different opinions (although I can see a tendency...). That is what my post here is intended for.

It is quite fascinating how difficult it must be to finance a house with a single income of more than €110k per year. That makes me wonder how someone who is entitled to the announced Baukindergeld (with a family income of max. €75k) is supposed to manage it.

Would another type of financing be conceivable through the combination of a loan (that is not amortized) and a home savings contract with high special payments?

Well, in the end, the bank has the final say anyway!

Oh yes, regarding the house: the previous offers were all a (good) bit under €300k for about 175 sqm without a basement. I can't say exactly yet because the building plot has not yet been finally assigned.

2018-03-10 15:17:18

For 2 children, the limit for the Baukindergeld due to the allowances is 105k€. Therefore, an application with children at Up to 100k€ is rather a kind of luxury problem.

My assumption is that your case will be considered "individually" for credit approval in internal service.

This is just a guess

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Financing a single-family house approx. 450k - How to implement?

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