Financing offer, purchase of existing property, single-family house

Hello dear forum members,

I am so bold with my first post to immediately tap into the existing knowledge regarding our upcoming financing wish....

Initial situation:
Purchase of an existing single-family house without a broker
Year built 2003
187 sqm living space, 70 sqm indoor pool, 180 sqm basement, (for better illustration 440 sqm underfloor heating), 38 cm solid brick exterior with insulating plaster without unwanted full thermal insulation, double garage, hipped roof, balcony 30 sqm + balcony 18 sqm, gas boiler, etc.)
Purchase price €250,000
Appraised value €300,000

Financing wish:
€200,000 or the maximum amount for top creditworthiness (own funds up to max. €120,000 available)
Term max. 15 years full repayment with unlimited prepayment amount
Plan for full repayment in 10 years (15 years only to keep the agreed rate low and to pay the rest by prepayment towards the 10-year target)
Variable interest rate with minimal 3-month Euribor margin!
Secured by an interest rate cap of 2.5% for 10 years amortizing (currently costs about €8,000)
Lowest BAG, etc.

Creditworthiness:
Married couple
Debt-free and no leasing
3 properties owned (1*single-family house and 2*condominiums), all paid off, debt-free, and owner-occupied
Combined monthly net income €9,400 (12x)
Monthly expenses €2,400

The crucial question for us: what conditions are possible? And the bank fees?

Thank you!

You will have to ask a bank ... or an intermediary.

You get the best conditions at 50-60% loan-to-value, i.e. if the bank values it the same way you do (€300,000), then you borrow €150,000-180,000. Have you had the house appraised? Sounds too good to be true. Variable loan or CAP - why? It's more expensive than 5-year fixed conditions. With your liquidity and normal expenses, I would fix it for 5 years. If a significant interest rate increase becomes noticeable, you are always within reach of a forward loan. I estimate 5-year conditions just under 1%. Just call Interhyp, Dr. Klein or something like that, you can quickly get a good assessment of what is currently possible. Provided your income is continuous and verifiable for at least 3 years (that's how most banks want it). What does the house bank say?

If the purchase price is at 250 TEUR, the market value will hardly be at 300 TEUR. If it is, then either one price or the other is incorrect.

And with the framework conditions, the property must be at the AdW.

In principle, you can pay for the house out of petty cash and fully repay it in 15 years. No CAP is needed for that either.

Unlimited special repayments cost money because the bank cannot plan long-term. Then variable with CAP is better. But actually, it’s not worth it for these amounts. So make it fixed for 15 years with special repayments of 5 or 10%. That makes things calculable for the bank and you...

With additional land charges on the unencumbered properties, you also get the top conditions.

So, topic closed.

if renting out then fully finance and offset the interest. But that doesn't seem to be your motivation, which I can understand given the income and equity. However, I agree with toxi. Market value = purchase price for the bank. This is also usually used to determine the terms. Unless you buy within the family, appraisal, etc. But it depends on the bank.

Definitely ask an intermediary first