Financing commitment at the current time

1 income + child benefit: 6.4k Monthly burden of new house loan: 3k [...] Currently it is 3.11

Yes, but it is clear here that the old loan must first be paid off through a sale, right? Otherwise, you will have an interim burden that is as high as your income. With an additional bridging loan for the missing equity, it will get even worse.

How old are you? Will you be able to repay the new loan before retirement?

1 income + child benefit: 6.4k Monthly burden new mortgage: 3k Monthly expenses according to household book: 2.5k

So what now? In the first post, the expenses were 1000€ less. Otherwise, I can definitely understand the banks. Almost 50% of the household income for the loan, with additional costs well over 50%. Only one income. Large family and therefore high living expenses. The whole thing is pretty much at the limit and actually a bit over. You need the equity from the house sale so that the whole thing also comes with an acceptable term (with a 700k loan and 3% interest, we are at just under 30 years). But you currently don’t have the money.

At that time, we were able to finance the current property without a single euro of equity and without batting an eye. That's why I asked here, and it doesn't help me at all when you tell me that we have too little income to get financing.

Did you already have the four children then? Or were you both working full-time?
Otherwise, the situation is not comparable at all.

Is it even an option to wait another year? The youngest will then be in kindergarten, you will go back to work, interest rates will probably remain the same, but the construction industry including all current uncertainties will hopefully have stabilized.

Our construction is a bit complicated, so it’s understandable that the bank is hesitating. Here are the numbers so that we can get a well-founded assessment from you: House construction + land purchase including all additional costs: 800k Debt on old house: 320k Market value of old house: 420k Min. equity after house sale: 100k Additional cash assets: 50k Financing amount: 700k 1 income + child benefit: 6.4k Monthly burden of new home loan: 3k Monthly expenses according to household budget: 2.5k According to FiBe a realistic undertaking – what do you think?

Ok, thanks! That is not complicated, but rather not representable! First of all, if you are so frugal (and need little money), there should already be many thousands (CASH) available now. That is not the case because 6 people really cost money. (Today even much more than a few years ago). Also, the 800k€ for the project only exist on paper for now. That would be the first Bvh with pinpoint landing, unless you have already calculated a buffer of 50-100k€ there. (Which I rather don’t think). Outdoor facilities, kitchen, furniture and other stuff etc. already all accounted for? The house will be at least 150 sqm (rather 180 sqm) in size. That can and will not work like this! All understandable why the bank signal here is red.

Ok, thanks! This is not complicated, but not feasible! First of all, if you are so economical (and need little money), there should already be many many thousands (in cash) available. That is not the case, because 6 heads cost a lot of money. (Today even much more than a few years ago). Also, the 800k€ for the project only exist on paper for now. That would be the first building project with a pinpoint landing, unless you have already calculated a buffer of 50-100k€. (Which I rather don’t think). Outdoor facilities, kitchen, furniture and other stuff etc. already taken into account? The house will be at least 150 sqm (rather 180 sqm) in size. That can and will not work like that! All understandable why the bank traffic light here is red.

So listen, I really find your insinuations inappropriate. We are not idiots! We have actually calculated a buffer of 100k, furniture is of course available and we are building the kitchen ourselves. Our TV is 12 years old, as we said we have no car BUT we have had a listed old building for 12 years which has eaten all our euros so far (one reason for a new build, since we fought for a roof expansion for two years that ultimately was not approved due to the arbitrariness of some individuals) and therefore we simply have not saved half a million. It may sound strange to you, but there are also people who truly need very little to live on. Even with 4 children. Our friends, for example, need about 15k holiday money per year. That is very important to them. But not to us. We don’t need expensive clothes, we buy second hand or make them ourselves. We grow fruit and vegetables, keep chickens for eggs and for slaughter, and built our last Ikea kitchen ourselves, which cost less than 3500€. So please, I never asked for your opinion. My question was: ARE THERE PEOPLE HERE CURRENTLY IN THE FINANCING PHASE? I would like to exchange ideas with these. Obviously you don’t belong to them and insinuate pure stupidity on our part, I don’t have time for that, sorry.