Financing plan for new construction on existing property

Ok then I'll be more specific :)

Special requests/buffer... the €40,000 is firmly allocated for the house for additional equipment. So in total for the house €310,000 + €40,000 = €350,000.

Besides the equity, there are another €50,000 available in accounts (partly in stocks, partly bonds, partly overnight money), but all highly liquid. According to the plan, we would prefer not to touch it, but if another €20,000 were needed, it wouldn’t be a big deal.

After the comments, I conclude for myself:
1) Financing possible with equity and salary -> I’m glad :)
2) Regarding the house price, I will reflect critically again and speak with my general contractor. What I already planned is to review the construction contract. Also to quantify our special requests more precisely.
3) In parallel, I will now talk to 2-3 banks regarding financing and visit Dr. Klein or Interhyp.

Many thanks for your evaluation/advice/comments! Great forum!

Regards Maik

Thank you very much, you have just put yourself in an offside position. Compare your post #25

Furthermore:
There are indeed banks (even state development banks) that further subsidize the KFW programs and are therefore cheaper than the KFW itself. Whether it is ultimately cheaper, however, must be considered on a case-by-case basis.

But there are also banks that offer me the same conditions with or without KFW, even if they take on a higher exposure with the KFW. They apparently calculate similarly to the insurance company you mentioned.

Below 80%, the bank basically only takes on a much greater enforcement risk; the enforcement rates are at a similar level in the long term. Therefore, it’s six of one, half a dozen of the other.

Regarding the structuring of conditions below that, it is based on the fact that up to 60% Pfandbrief eligibility is given for cheaper refinancing. And here too, the KFW is excluded because this part of the refinancing is given congruently. The borrower risk can be neglected.

Boahhhh, what are you trying to tell me???? But usually, state development banks have a different name for the program!!

Honestly, what are you trying to say now. KfW funds are KfW funds, state development funds are state development funds. Do all consumers benefit from state development funds? Let's assume yes, who provides the other money? Where can I specifically take out the KfW close funds? At which state development bank? Where? How do I get the other money? When does the state development bank go into subordination so that the main bank can issue the conditions as 60% conditions instead of the 70% conditions? At which one? How do I get subsidized KfW funds (at which development bank is that still available???) and can take out the main loan at just any bank???

I only know the IBB in Berlin, the rest is a bit more complicated to look at than you want to state here!

What are you talking about risk calculation? The banks I choose screen between 60% up to 70%, up to 80%, etc.!!!! Sometimes every euro counts, yes, even the small expensive building loan contract can suddenly be interesting, which one actually did not want to use because the old contract and interest rate are too expensive.

One more thing, did I say consumers should take out KfW funds? If I get funds cheaper at my bank, of course I don't apply for KfW funds, but that was not what my tip was about at all.

The funds passed on by the development banks that I am talking about are KFW funds. There is no further funding (and thus double funding) by KFW. We are not talking about funding programs for social housing here. But I assume that is not what you meant. There are known restrictions on the group of beneficiaries there. Is the name of a funding program really relevant? What it contains counts, you said yourself. And maybe I feel like looking up such a program for you tonight. It was still a topic here last year.

Social housing???

The state development banks of the federal states have different funding programs for the purchase, new construction or modernization of residential properties.

Very few have KfW passthroughs, but the L-Bank, for example, has KfW-like programs that are modeled on the conditions of the KfW.

Which development bank, apart from the IBB in Berlin (an absolute top story that they offer there), actually passes through KfW at the moment is unknown to me, especially which development bank offers this subsidized. And if so, where does the customer get the remaining money? Main bank and then state development bank, as far as I can oversee, does not work at most state development banks (except IBB), just as I described with main bank and Alte Leipziger.

Can you please tell me which development bank provides me with the KfW funds, covers the subordinate tranche and takes the risk from the main bank at the peak? Which one – apart from IBB – is that???

The L-Bank does this with the KfW-like programs, but then the loan-to-value ratio may not exceed a certain percentage and the NRW.Bank only handles the entire financing, and most fail due to the set income thresholds (earn too much) and/or even the missing equity of mostly 15%.