Financing property purchase and modernization

The OP has around 90k of an estimated 200k. What exactly is wrong with the equity/debt?

From a bank's perspective, only if he uses it. And upfront. I don't give loans on promises; I want to see the equity immediately in the financing. In my bank, in 99% of cases, this is a dealbreaker. No upfront equity contribution = incomplete overall financing = not approvable.

It may be that you or your bank handle it that way, but it still doesn't always apply. That's all I wanted to say.

It may be that you or your bank handle it that way, but it still doesn’t always apply. That’s all I wanted to say.

But the big ones do it that way. Mortgage financing is a mass/standard business. You want to minimize the risk that the equity capital is missing when it is only used late. Often, some equity capital is also proven. My advisor back then said the savings contract would be difficult since it had not yet been terminated and whether I could copy something from grandma.

The big ones do it that way though

I would now assume that the Sparkasse belongs to the big ones but, as described, we have no problem using the equity in the end

Commerzbank. I don’t know if you’ve heard of them yet I don’t want to argue about what the usual procedure is, I understand that it requires “equity first” (etc.) but with a correspondingly healthy financing (and possibly a good personal impression), sometimes something is possible.

I would now assume that Sparkasse belongs to the big ones, but as described, we have no problem using the equity capital at the end

The savings banks still operate in a decentralized manner and are often more expensive (not always but often). However, this gives them the advantage of being able to tailor everything more individually.

I financed with Signal and it was okay that the equity capital was not used immediately. I believe I paid it at construction progress stage 3.