Financing | Single-family house | Feasibility | 2nd rank

Doesn't matter, it won't be sold anyway. Also because of the emotional attachment mentioned here in passing (supporting the tenant in communication with the authorities...). Always difficult when investments are linked with emotions, it makes you unable to act.

To make it simple: You can mentally cross out the apartment, it is irrelevant in this constellation. It is not sensibly mortgageable, the capital is tied up in it and selling is undesirable and probably not nearly as profitable as hoped.

What remains on paper is 100% financing and the desire to additionally finance the incidental purchase costs. This is usually done through a consumer loan with corresponding conditions. Unfortunately, there are already glaring consumer debts.

As a result, this simply won't happen easily. If at all, only very expensively.
Apart from the fact that it is unreasonable. There is definitely a risk of over-indebtedness here.

Sounds like denial of reality! The original poster wouldn't be the first nor the last to proceed like this. You can't really blame her if she's been looking for something suitable for quite a while. The only problem is that the condominium is not supposed to be sold. In doing so, you take on high conditions and if you realize in 2-5 years that you can't handle it, the apartment will be sold and the conditions will still be crap because you acted wrongly.

The equity capital is at least enough for the incidental purchase costs, so you wouldn't have to finance those. However, the consumer loan remains; if you pay that off, then again the incidental purchase costs need to be financed... By the way, you are allowed to pay those from the [KfW loan]. I also had an auto loan, but also an equivalent countervalue – that wasn't seen as critical, the installment was included in the household budget and that was fine.

If you take the income of €5400 (the base salaries and the child benefit) and subtract the €550 for the "consumer loans," you are left with €4850. That is very borderline sufficient for the desired sum of €460k. Assumption: the condominium pays for itself credit-wise through the apparently secured rent. Taxes do apply, but you can offset the interest expense in return, right? It would then be sensible to repay as little as possible here. What maintenance reserve do you have to provide? That is also deducted from the €4850.

Well, the situation is not rosy, there is no discussion about that. Very annoying that you didn't work towards your dream (= saved), now it’s catching up with you. It would be good if the family could support a little more so that the equity capital situation improves.

Only you know your actual expenditure situation, you have to know what you have left and whether the calculation works out for you. Otherwise, you just have to see if a bank makes an offer and what it looks like.

To make it simple: You can mentally cross out the apartment; it is irrelevant in this constellation.

Not quite. The net rent will be reduced by the bank (usually by 20% for operating costs). Thus, the original poster pays on net and the income decreases. This is also the case in reality – maintenance reserves, administration, taxes, etc.

Sounds like denial of reality! The OP wouldn’t be the first or the last to proceed like this. One can’t really blame her when she’s been looking for something suitable for quite a while. The only problem is that the condominium is not meant to be sold. For that, you end up with high conditions, and if in 2-5 years you realize you can’t manage it, the apartment is sold and the conditions remain terrible because you proceeded incorrectly.

Oh God, one thing I want to make clear. I am male.

The equity capital is at least enough for the incidental purchase costs, so you wouldn’t have to finance those. But then the consumer loan remains; if you pay it off, the incidental purchase costs would have to be financed again... By the way, you can also pay those with the KfW loan.
I also had a car loan, but also a corresponding equivalent value; that was not seen as critical, the installment was included in the household budget and that was fine.

If you take 550€ for the "consumer loans" from the income of 5400€ (the base salaries and child benefit), 4850€ remain. That is very barely enough for the desired amount of 460k€.
Assumption: the condominium finances itself credit-wise through the apparently secured rent. Taxes are incurred, but you can offset the interest burden in return, right? It would then be sensible to repay as little as possible here. What maintenance reserve do you have to provide? That still has to be deducted from the 4850€.

Well, the situation is not rosy, there is no discussion. Very annoying that you didn’t work toward your dream (= saved), now it’s coming back to bite you. It would be good if the family could support a little so that the equity situation improves.

Only you know your actual spending situation; you have to know what you have left over and whether the calculation works out for you.
Otherwise, you just have to see if a bank makes an offer and what that looks like.

Wrong, there is no equity capital. They just cover the consumer loans.

So equity capital = 0

The value of the apartment does not matter since it is an illiquid asset.

The equity capital at least covers the ancillary purchase costs, so those wouldn't have to be financed. However, the consumer loan remains; if you pay it off, then the ancillary purchase costs have to be financed again... By the way, you can also pay that from the KfW loan.
I also had a car loan, but with a corresponding equivalent value—that was not viewed critically, the installment was included in the household budget and that was fine.

If you take the income of €5400 (the base salaries and child benefit) and subtract the €550 for the "consumer loans," you are left with €4850. That is a very tight fit for the desired amount of €460k.
Assumption: the condominium financially pays for itself through the apparently secured rent. Taxes do apply, but you can also deduct the interest burden in return, right? It would then be sensible to repay as little as possible here. What maintenance reserve do you have to provide? That also has to be subtracted from the €4850.

Well, the situation is not rosy, there is no discussion about that. It's very annoying that you didn't work toward your dream (= save), and now that's biting you. It would be good if the family could still support a bit to improve the equity situation.

Only you know your actual expense situation; you have to know what you have left over and whether the calculation works for you.
Otherwise, you just have to see if a bank makes an offer and what it looks like.

Thank you for your feedback. In case of emergency, we have the possibility to receive 10% of the total loan amount from the family, which I have considered after your comments. Let's see how everything develops.