Financing plan: high equity / 2.67% / 15 years / full repayment

Hi,

can you take a look at this?

Purchase price property: 420,000 euros
Incidental purchase costs: 50,000 euros

Total requirement: 470,000 euros
Equity: 350,000 euros

For the gap of 120,000 euros, I have an offer with
a term of 15 years at 2.67% effective interest,
so I pay 809 euros per month. Full repayment.

Is this okay?
Is Wohn-Riester actually worth it? I have 1 child and
could pay in the required 4% of my salary.
However, I haven’t fully checked Wohnriester yet,
otherwise I wouldn’t be asking....logical.

Regards
GT2006

Sounds really good!

I wouldn't bother with Wohn-Riester anymore. I would rather use Riester for "pure" retirement provision, as you also benefit from the subsidies ... e.g., bank savings plan.

yes, very good interest rate. Allow for special repayments?

Hello,

yes, special repayments are possible, 5% in 1 to 2 payments per year possible.
That amounts to 500 euros / month or 6,000 euros / year.

Regards
GT2006

When I read 350K€ equity, I naturally wonder how it was generated. If the income is so high that it was self-earned, then the 809€ installment does not quite fit. Possibly, for such a relatively manageable financing amount, a 10-year fixed interest period could also be considered, especially if special repayments are planned. This only makes sense, of course, if the interest rate difference between 10 and 15 years fixed interest period is correspondingly high.

Inheritance is definitely an option :)