Financing - Special Termination and Deadlines

Hello, ask your bank and an intermediary. You have a good starting position since both loans expire at the same time. I look into the crystal ball and say your bank will be more expensive.

The numbers are from the contract. The folder is lying next to me. The 731 are pure total repayments of the loan and the KfW. 183€ are additional. So 914€ go to the nice financial service providers. We have used the option of special repayments a few times. It was a few times 5050€. 10a*12M+183€ I arrive at a theoretical ~22,000€

Jokester. :D So the building savings contract is therefore separate from the loans!? The remaining amount is manageable. Take the 43 k€ KFW, refinance directly and take the 47 k€ for 2023 via forward directly. (That's probably how I would proceed) You can turn your back on the house bank by 98%…

Joker. :D

Why, did I write something wrong somewhere?

So the home savings contract is independent from the loans!?

Yes. It should only serve as security to reliably put something aside and not be caught off guard in case of an interest rate explosion.

The remaining amount is manageable.

Some say so, others say otherwise. I don’t like debts and want to be independent from the bank as quickly as possible.

Take the 43 k€ KfW, refinance directly and take the 47 k€ for 2023 via forward contract directly. (That’s probably how I would proceed)

Can I already initiate that to secure a good interest rate?
The new amount for 2023 is only set for the KfW. The main loan will only be in repayment for ten years starting in 2024. How can I combine them?

You can turn your back to the house bank 98 %…

My house bank couldn’t finance at that time because the savings bank somehow outsourced it and pooled it. So, there was never a financing.
We ended up with the DSL. Do you think I won’t get a good offer there?

Thanks for your help.

Can I already initiate this to secure a good interest rate? The new amount is only fixed for the KfW in 2023. The main loan has only been in repayment for ten years since 2024. How can I combine them?

do you maybe have an idea? Thanks for your help.

I believe this can be done with 2 disbursement steps, analogous to the disbursement by construction phases. The problem will be that you can only terminate with 6 months' notice starting in November 2024. That means refinancing is only possible in May 2025. That is still over 3 years away. This accordingly results in interest surcharges.

Are you sure that the KFW loan can already be repaid now? We financed almost at the same time. At that time there was the KFW 153 loan (for KFW70 houses and better), which was probably significantly cheaper, and then there was the regular KFW 124 for home financing.
The 153 loan could be partially or fully repaid at any time. But I thought that did not apply to the KFW 124.
You should check that.

Another option
If refinancing of the KFW loan is actually possible now, then you could also take out 53k now (in 2nd rank), use it to repay the KFW loan, and make special repayments of €5000 each in 2021 and early 2022 on the main loan. According to my calculation, there should still be just over €11k outstanding in May 2025. That should somehow be coverable – either through further special repayments until 2025, or through free liquidity at the end, or through the withdrawal of building savings funds from the building savings contract.
And if none of that works, you still have the fixed interest rate until 2028. With monthly interest of less than €30 (tending to decrease), the savings effect would not be that big. At the latest, the loan would be repaid by March 2027 anyway.

If refinancing the KFW loan is actually possible now, then you could already take out 53k (in second rank) now, pay off the KFW loan with it, and make special repayments of €5000 each in 2021 and early 2022 on the main loan.

That is logically not feasible. The bank won't do that. @TE: Actually, everything has been said, go to an advisor or directly to Interhyp. Regarding paying off KfW. Our ASP (house bank) said "back then" that KfW can be paid off at any time. Whether he meant only our KfW60 with that or if this applies in general, I do not know.