Financing question for our construction project

Hello forum,

our construction project has now reached the financing question. Due to rising interest rates, we want to complete this issue and ask for your assessment of whether the offer fits our project.

Total construction sum 470,000,-
Pure land price (already paid) 98,000,-
Construction costs (standard will be KFW70) 370,000,-
Remaining equity 130,000,-
This results in a financing requirement of 240,000,- of which 50,000,- comes from KFW153 at 1.0% and 190,000 from a classic bank loan.
Our net income is 4,700 euros – since there are no children yet but 2 are planned in the next 2-3 years, a certain flexibility in financing is desired. A change of the rate or temporarily suspending the Kfw repayment would be an option.

Our "best" offer comes from the local bank which offers us:
190,000;- payout at 100% with 15 years fixed interest rate at an effective interest rate of 1.92% and a repayment rate of 4.42%. The rate would thus be 1,000 euros per month + from the 13th month the Kfw annuity (interest + repayment) of 450 euros.
KFW would be completely paid off after 10 years, after 15 years a residual debt of 44,516,- would remain at the bank.
A special repayment option of 5% would also still be possible!

Should one accept? Or should something be optimized? With regard to KFW, I find it difficult to repay the "cheapest" loan so quickly instead of investing 400,- (about 50 euros interest is to be paid anyway with the KFW) more in the repayment of the expensive bank loan to get rid of the residual debt faster... does the offer by the banker make more sense??
Maybe you have a tip for us. Many thanks :-)

I find the rate from the 13th month on too high, especially if a salary possibly disappears shortly after and additional costs arise. It would be interesting to know how long and how much money would have to be foregone.

Do you have the possibility to adjust the rate during the fixed interest period? Otherwise, I would reduce the KFW loan a bit and repay it after 10 years of accumulated capital.

Or prepay the KfW during the period, then you have a bit more leeway. Why is it actually 1%, for KfW 70 it is 0.85%?

Hello,

with such a good equity/loan situation, I would contact brokers. Is the property free of encumbrances? Was it paid with equity?

Or make special repayments on the KfW during that time, then you have a bit more leeway. Why do you actually have 1%, for KfW 70 it is supposed to be 0.85%?

Nope, KfW 70 is at 1%. at least this morning ...

Oh, so the interest rate increases are going through after all. L-Bank also raised it to 0.8% at the beginning of the week, as I just see.