Financing without equity with security?

What term and fixed interest period is this actually calculated for? Sounds like a 10-year fixed interest period...

What exactly are the conditions? And why do you have so little equity? Do you keep track of your monthly expenses?

Wow - so many responses - thank you very much in any case also for your critical opinions!

How you might possibly ease it a bit: Finance the land using your parents' house as security. Make it a full repayment loan over 5 years. You then mortgage the land along with the new house for the new house.

Talk to the bank about how much they want for a low interest rate - we got 50k as security from the parents. In 5 years that can/will be removed and my parents are out...

That sounds like manageable solutions - I will also address that, thanks!

What term and fixed interest period is that actually calculated on? Sounds somehow like 10 years fixed interest...

Our first "trial calculations" were based on a term of 15 years and a simultaneously running home savings contract, to secure (high) 2,xx% and to avoid an interest crash. (In case interest rates rise above 5,x%)

What exactly do the conditions look like? And why do you have so little equity? Do you keep track of your monthly costs?

What other conditions do you mean? Key data would be 27 years at 2.77%, payment <= 950€ (with 50k€ KfW over 20 years), with 15 years fixed interest. Special repayments possible once a year. (I don’t have the percentage in my head right now). Afterwards either a follow-up financing or the home savings contract with <3%. Now there was the (still verbal) offer of 1.66% with additional security, which I want to question a bit critically. (because of the security of the parents’ house)

The low equity mainly comes from the fact that I had a car accident 4 years ago, which I had to take responsibility for (bad luck with the trailer loan and its insurance) and was still paying for until recently... So a kind of legacy debt.
We have been tracking our finances in an Excel file for 5-6 years. So I would say yes - we have a pretty good overview of our finances. Currently, after all fixed expenses (including utilities, insurance, cars, food, fuel, etc) and with 530€ rent, I have a monthly net surplus of about 1100€, which I want to partially transfer into my home savings contract or to a daily money account starting 01/2016. If I add the rent on top of that, it would be about 1500€ that I could invest in house, saving and free time.

I am somewhat surprised that it is said to be a low income. It is just a normal engineering salary 10% above the normal rate in the Osnabrück/Emsland region. With what income would you want to calculate at least in order to handle a 1000€ loan and the additional financial burdens of a house?

I forgot to mention: I have not yet included my girlfriend's salary here - there is another good €1000 net coming in, but I do not want to take it into account for the "risk analysis" because, in my opinion, it must also work with just one salary in an emergency.

I almost forgot: I haven’t included my girlfriend’s salary here yet – that adds another good €1000 net to the equation, but I don’t want to factor that into the "risk analysis" because, in my opinion, it has to work with just one salary in an emergency.

Good consideration or decision!

That answers all my questions.

Certainly, it is feasible but it is a very tight situation with an uncertain outcome.
I recommend saving equity over the next three to five years. If you can actually set aside the targeted €1,100, your position will look much better.
Building a house just because interest rates are currently low is, in my view, the wrong approach. I would then possibly leverage the parental home at 25-30% later on.