Financing single-family solid house for 296,000 Euros

I wouldn't start with 1% at the current interest rate level but rather with 2-3%. Once you get used to the rate, you don't change it. With 1% repayment, there remains still a very large portion of the outstanding debt.

also the special repayment is hardly utilized, especially in the first few years

The offer from Ing-Diba was presented to us by Interhyp.

Let's not kid ourselves, 1% repayment is a joke. BUT it does fit quite well with our current situation IF we increase it soon.

I'm not so good at interest calculation anymore. Let's assume we manage to pay 4000€ annually in special repayments, would that be equivalent to a 2% repayment?

Thanks in advance for your answers

Just enter the data into an interest calculator online. There is really more than enough of those. I find 1% repayment far too little with such a high loan-to-value ratio. Without any special repayments, there will still be a remaining debt of a good €310,000 after 15 years. With 2%, it is still €240,000.

I consider 1% outdated; even 2% is little.

With Ing-Diba, you can adjust the repayment rate 2 (?) times, right? Therefore, I would definitely start with the higher rate from the beginning, maybe even higher than 2%. It’s also about self-discipline here. Save the additional requirement for parental leave now.

Regardless, I think it is important to check again whether the overall calculation of the house costs is correct, as has already been pointed out here.

I'm not quite up to date with interest calculation. Let's assume we manage to make annual special repayments of 4000€, would that be equivalent to a 2% repayment?

You indicated that you want to take out a loan of 380,000 euros. With an initial repayment rate of 1%, the following special repayments are necessary to achieve 2% or 3% repayment: 380,000 euros * 0.01 = 3800 euros p.a. for 2% repayment. 380,000 euros * 0.02 = 7600 euros p.a. for 3% repayment. With your annuity, you repay at 1% initial repayment in the 1st month after full disbursement 380,000 euros * 0.01/12 = 316.67 euros. Then continuously more. In the fixed rate, we also only have about 2% repayment and want to increase it to (at least) 3% through special repayments.

As far as I understand, the 296,000 euros are the initial house price without additional costs for [Bemusterung] and [Außenanlagen], right? I don't know anyone who doesn't have extra costs for [Bemusterung], so I would add at least 20,000 euros. Why are you considering a 1% repayment rate? Your salary is high enough, or do you have other loans to repay? With your salary, I would pay off at least 1,500 euros monthly and use the option of special repayments if there is still money left.

Best regards Sabine