Financing comparison - Now it's getting serious

2021-08-03 22:44:35

There are always such fashion trends. Twenty years ago, building or buying a house was often financed with capital-forming life insurance policies. Everything was nicely calculated and also lucrative thanks to surplus participation.

But what is the situation with that actually? You don't hear anything about it anymore. Many are now facing the ruins of their construction financing.

Although most have still been lucky because prices have naturally risen sharply.

2021-08-04 07:14:02

Even if the problems do not occur (already) during the term - what happens with the typical 10-year fixed-interest financing, with minimal repayment? If the amount repaid so far is "eaten up" by the book value depreciation of the house?

One should know that as much as possible must be repaid within the time. If there are no major incidents (illness, unemployment -> rather unlikely due to secure jobs), then we plan to repay at least €200,000 of the €494,000 within the 10 years. If the standard land value remains (which I do not assume, since the current market price is about 3-4 times higher), we are only at 50% financing for the undeveloped land. With the house, the financing will be less than the lending value.

2021-08-04 10:25:29

I hope the original poster isn't upset if I use their post for a similar question :)

For us, it isn't that concrete yet, but I have a rough plan on how to best "approach" such a financing comparison. Our main bank is the Commerzbank (household account), ING (my account), DKB (wife), then an advisor at LBS and one at Interhyp (we are in regular contact with both).

Would you "check out" all of them? The problem nowadays is that you have to be quick and need a financing confirmation. I assume that it won't be feasible time-wise.

Is it possible to first go to an advisor (e.g. Interhyp), then the main bank, and then again (if the offer is better) back to Interhyp? (or vice versa) I once read that advisors can no longer access the offers/conditions if the main bank has already drawn up a financing plan!?

Thanks

2021-08-04 10:35:21

I hope the original poster is not upset if I use his post for a similar question :)

It’s not yet that concrete for us, but I have a rough plan on how to best "go about" such a financing comparison. We have as our house bank Commerzbank (household account), ING (my account), DKB (wife), then an advisor at LBS and one at Interhyp (we are in regular contact with both).

Would you check out all of them? The problem nowadays is that you also have to be quick and need a financing confirmation. I assume it won’t be feasible time-wise.

Is it possible to first go to the advisor (e.g. Interhyp), then the house bank, and then again (if the offer is better) back to Interhyp? (or vice versa) I once read that advisors can no longer access the offers/conditions if the house bank has already prepared a financing plan!?

Thanks

You should by now have figures on the table due to your shown interest in the 1955 property. :rolleyes:

2021-08-04 10:39:19

I hope the thread creator is not upset if I use his post for a similar question :)

It’s not quite concrete for us yet, but I have a rough plan on how to best "go about" such a financing comparison. Our main bank is Commerzbank (household account), then ING (my account), DKB (wife), plus an advisor at LBS and one at Interhyp (we are in regular contact with both).

Would you check all of them? The problem nowadays is that you have to be quick and need a financing confirmation. I assume it won’t be feasible time-wise.

Is it possible to go first to the advisor (e.g. Interhyp), then to the house bank, and then back (if the offer is better) to Interhyp? (or vice versa) I once read that advisors can no longer access offers/conditions if the house bank has already prepared a financing plan!?

Thanks

So, I went to Interhyp and then to ING (our house bank). It was a better offer but not as good as MBS. Also, the waiting times at ING (as far as I’ve heard) are quite long. It can take 6-8 weeks until payout. At MBS it goes (according to the employee) very quickly. As soon as all documents are signed and the land charge is registered, the payout can begin.

2021-08-04 10:44:54

Up to 6-8 weeks can pass until the payout.

So once the contract is sealed including the mortgage, etc., it goes quickly at ING as well. What currently takes a lot of time is the review in non-standard configurations.

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Financing comparison - Now it's getting serious

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