Financing comparison - Now it's getting serious

Am I reading this correctly that Commerzbank requires 20% equity?

I plan (as already mentioned) to increase the rate to 1,600 once the property is paid off. Also with special repayment, so that we come to a maximum of 25 years. Worst-case is the company pension and my wife's pension, which will be paid out at 67. Please read completely first before making such bold claims :)

The adjustment is not entirely in line with the Residential Mortgage Credit Directive, and a credit institution must comply with it.

Don’t drive yourselves crazy. Even if the house isn’t paid off by retirement, who cares? If necessary, it will be sold or simply paid off further. As a teacher with A13 pay grade and a well-paid controller, you’ll probably be able to continue paying those few hundred euros. Even 1.95 or 2% repayment would be completely fine.

My parents paid off their property before retirement, and then with my mother’s retirement, borrowed another 150,000, bought an awesome motorhome, and spent 6-9 months a year on vacation. Live as long as you can. Three months ago, my dad was diagnosed with cancer; they are very glad they still had over 5 years to enjoy. Whether we inherit 150,000 EUR more or less is totally irrelevant.

Don’t let yourselves go crazy, enjoy life, do everything right. A mortgagable house is a smart savings pot. A debt-free house is not always the smartest.

Good luck!

You are right. However, we are not fans of loans. If at all, we want to pay them back quickly. On the other hand, we also don’t want to rebuild to worsen our standard of living. That’s why we choose the installment so that we can still save about €1,750 monthly and also make special repayments later.