Financing offer: TA loan with building savings contract

  • Erstellt am 2021-01-04 00:44:39

Franconia

2021-01-04 00:44:39
  • #1
Hello dear ones.

Following situation:

Credit requirement: 530k
KFW:120k (18k grant)

I have an offer (TA loan with building savings contract) for signature, which consists of several components.

Loan 1:
188k on property 1, interest eff. 1.4 (0.94 nominal)
Fixed interest rate for 20 years
Paid off after 33 years

Loan 2:
328 on new build, interest eff. 1.31 (0.89 nominal)
Fixed interest rate for 20 years
Paid off after 33 years.

Loan 3:
KfW/outstanding balance after 10 years just under 68k

Question: is the offer good? We wanted a rate around 1900 (we have 1930 total now) and as little risk as possible. We have two mortgage-free existing properties, I am a civil servant, and our household net income is about 7500 net.

I am a bit uncertain whether an annuity loan would be more cost-effective with the same performance?

Thank you for your opinion and your input.

Franconia
 

HilfeHilfe

2021-01-04 07:27:18
  • #2
have you contacted an intermediary?
 

Franconia

2021-01-04 07:41:17
  • #3
Good morning. Yes, I have contacted them, but Interhyp has so far only offered loans with a maximum interest rate fixed for 20 years and therefore a large remaining debt, although I explicitly wanted a solution without remaining debt. I have another appointment at Interhyp tomorrow.

The present offer comes directly from the bank and must be signed by 12.1.
 

Joedreck

2021-01-04 07:46:53
  • #4
Without claiming to be an expert here, this seems quite expensive to me. However, some data is apparently missing for the complete evaluation, such as the purchase price and the equity ratio.
 

Franconia

2021-01-04 07:51:24
  • #5
Full financing, but secured with an additional mortgage on a unencumbered [ETW]. Additional security without mortgage registration: unencumbered single-family house. Loan-to-value ratio 70 percent (new build) or 80 percent ([ETW]) respectively.
 

Olli-Ka

2021-01-04 08:21:12
  • #6

Hi,
that seems very expensive to me.
The residual debt depends on the repayment and not on the term.
With your conditions (existing property + salary), more should be possible.
And if that’s what you wanted...
... you are the boss, but 20 years is quite a long time.
Olli
 

Similar topics
08.02.2016Cancel the loan and accept a better offer?37
08.05.2016Renovation & Attic Expansion: KfW? Cost-effectiveness vs. New Construction?18
12.04.2016Once again, opinion on the financing offer requested.16
09.05.2017Construction financing with a low fixed rate56
27.06.2018What financing is suitable for new construction in 2018?41
25.02.2020Financing option - Assessment - New construction21
04.12.2020Property already financed - is another bank possible for house construction?42
29.04.2021Financing single-family house in southern Lower Saxony - SPK on strike!75
14.02.202210 or 17 years fixed interest rate on a 250k loan?24
29.01.2023KFW Credit 261: New Construction Efficiency House 40 NH17
29.09.2022High interest rates with fixed interest, alternative flex loans?54
17.10.2024Increasing repayment on which loan improves experience?13

Oben