Financing offer single-family house

Sorry, was a lapse in thought. There are just a bit too many numbers at the moment... you are of course right.

Good, one less misconception for you, one good deed more for me. :-)

Hello dear people,

I would like to give you an update on our financing plans and ask for your opinion once again. Your last points have already helped us a lot.

First of all, we have reduced our installment and are now going into the race with about 1,300 EUR - 1,400 EUR monthly. We have been to 5 providers (banks and brokers) and have already cut out the first ones from a long list. Since banks often work with home loan contracts, it is somewhat difficult for us to compare the offers, so we have chosen the following points for ourselves to compare the providers:

- Remaining debt
- Term
- Interest costs

The follow-up financing was always calculated differently as a model, so the effective interest rate is unfortunately no longer a factor.

Here are the offers:
(Info: The total remaining debt also includes the KfW loan, which expires after 10 years. Otherwise, the costs only include the costs within the fixed interest period, costs for follow-up financing are excluded, as these were calculated differently by everyone.)

Provider 1:
Advantage: Full repayment. However, the installment is also higher than planned.

Provider 2:
Actually too short fixed interest period and too high remaining debt at 161k EUR.

Provider 3 and 4:
Both comparable, only that the remaining debt and interest costs are different with both providers.

Provider 5:
The annuity loan expires here after 15 years and 87k EUR remain to be financed. Otherwise, it is more in the middle. The 170k EUR is a home loan contract and also makes up the largest part of the costs.

All providers (No. 5 is still hesitating, but will probably do it) offer 12 months interest-free provisioning. All providers have also offered to improve again once they know how much is still "missing". Since the offers are difficult to compare, I don’t know how we should play it.

Can you wash my head again and give me some ideas on the points? I am wavering back and forth. If we are not allowed to post the offers like this, sorry – then I will delete the picture right away.

Best regards
Greg

You are comparing apples and oranges. Sorry, but you can't approach it that way.

You mix different terms and then add the outstanding debts at different points in time.

The approach is good, but the comparability of the offers is ABSOLUTELY not given!

The only two comparable offers are 3+4, and you could have said that 3 is better.

You have to bring all 5 offers to a comparable level, but you cannot do that quantitatively.

Thank you toxicmolotow. Yes, you are right, we just need to first find out whether we prefer apples or pears :)

Until yesterday, I didn't understand why a home savings contract always has such a "bad" reputation. The interest rates are actually quite good in the example. I only realized then that the actual interest after the accumulation phase is 2.85%.

It currently comes down to offer 3, because a long fixed interest period is simply interesting for us.

Exactly, if you only like pears stored for 25 years, the other 3 offers are currently out. The only thing that helps is to obtain the appropriate pear offers if you want more selection.