Financing - where is the mistake?

That’s not recorded in the Schufa, right?

This is purely about informing you so that you know where you stand.

Remember that a private loan for €25k in additional costs was also included. With a term of 60 months, the loan already costs you €420 in principal repayment (+ interest, which I did not take into account). If the term was shorter, then more!

No calculation error by your broker, wrong loan chosen - you probably simply cannot get another type of financing because the loan-to-value ratio is extremely high.

I had already 'mixed-calculated' the interest, but I really don’t know the principal repayment.

Remember that a private loan for €25k in additional costs was also included. With a term of 60 months, the loan already costs you €420 repayment (+ interest, which I did not consider). If the term was shorter, then more!

No calculation error by your broker, wrong loan chosen - you probably just won't get any other type of financing because the loan-to-value ratio is extremely high.

Wrong loan - otherwise I wouldn't have any options, right? I thought I have to go through a private loan in this case?

Wrong loan - otherwise I wouldn't have any options, right? I thought I have to go through a private loan in this case?

You only have to if you don’t get a "normal" construction loan – due to lack of equity. However, this consumer loan makes the financing immensely expensive for several years, as I already wrote. It is similar to a loan for furniture, a car, or the like – it must also be repaid within a few years. P.S. Sad that you get an offer but have no idea what is being offered to you

You only have to if you don’t get a "normal" mortgage – due to lack of equity. However, this consumer loan makes the financing immensely expensive for a few years, as I already mentioned. It’s similar to a loan for furniture, a car, or the like – it also has to be repaid within a few years.

P.S. Sad that you get an offer but have no idea what is being offered to you

That sounds so harsh... : )

My problem was simply the immense time pressure I was under. I have been looking at the market repeatedly for quite some time and then, by quite a big coincidence, I came across this house, which was actually already promised to someone else, so I had to clarify everything within one day. Therefore, I only got the agent’s statement in a ten-minute phone call beforehand about whether it would even be financed by a bank. I had never really dealt with it before because I thought they’d just laugh us out of the bank... with my husband on parental leave/studying with only 20k equity despite a civil servant job.

That sounds terrible, my scribbling. Actually, I am pretty well planned : )