martinh1337
2021-02-17 08:47:45
- #1
Hello everyone, for our project I got an offer from my house bank (Raiffeisenbank) and I wanted to share it with you and hear your opinion about it. Estimated construction costs are about 325k-350k and equity of nearly 70k is available. Our loan amount is 300k (to have enough buffer). 300,000€ total. 200,000€ will be financed through Fuchs Topzins (0.67% fixed interest for 15 years, after 15 years secured with a building savings contract for another 15 years at 1.55%). 100,000€ runs through the bank at 0.80% over 10 years, the remaining debt is covered and secured with my existing Riester contract. Altogether we have an effective interest rate of 0.94% over the entire term (planning about 26 years with 1000€ repayment per month). What do you think about the offer? The construction is in Bavaria, rural area in the Upper Palatinate, land already available.