Home financing 100% full financing, is that possible or too risky?

2021-02-17 06:56:22

well, you can do that. if an income disappears, it gets tight. otherwise, the risks for the parents are named.

2021-02-17 07:19:26

I think you shouldn't ask other people

Why not?

Here everyone will tell you ...... something different.

That is the purpose of a forum: many answers can question one's own perspective or calculation.

2021-02-17 17:59:34

Hello everyone,

We would like to buy a semi-detached house soon and would like your opinion on the financing. We are in our mid-30s and have a 2-year-old child.

Semi-detached house Efficiency House 40 Plus: €620,000
Equity: only the incidental costs will be paid by us, safety buffer for furniture and the rest €60,000.
Additional security: land charge parents' house €250,000.

Income situation: Net income I €4,200 (public sector), my wife €2,000 (26 hours), child benefit €219 = total €6,419
Income development until 2023 through step advancement: approx. €7,000 net household income.

Currently, we keep a household book and our monthly fixed and variable expenses are about €2,300 excluding cold rent.

Would the financing be possible or too risky? We have not yet received advice from any bank.

Should be possible! We also completed 100% financing! The detached house via developer in Hamburg costs €680,000. Our income is €8,000. The installment will be about €2,000.

2021-02-17 19:27:11

Equity: only the incidental costs are paid by us, a security buffer for furniture and the remaining €60,000.

Are the incidental costs already included in the €60,000 or are they extra? So furniture and buffer = €10,000?
In this case, it would be important that you keep the topic of sample selection in mind and possibly do a pre-selection before the financing is finalized. Otherwise, the €10,000 can be gone quite quickly.
Another important point: KfW funding. If you sign the contract by June, you must start the financing by the end of June. The new BEG funding must be applied for before the contract is signed.

2021-02-19 12:48:35

The €60,000 is additional to the ancillary costs. So, together €110,000 equity capital. With a little more being added every month. I personally calculated that the house will be paid off in 26 years and that we will have at least €20,000 each year available for vacations and savings. According to the figures, this would initially be the case, and with tariff increases etc., something would be added every year. Furthermore, I have the possibility that through the house I can generate additional secondary income as a lecturer and head of a consulting office (tax assistance association) through a home office.

2021-02-19 18:52:53

Wow, I find the buffer almost a bit too cautious. In this case, I would calculate exactly with the bank how much additional equity you need to reach which loan-to-value ratio. A 2% lower loan-to-value ratio can make a difference in the interest rate.

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Home financing 100% full financing, is that possible or too risky?

HilfeHilfe

ypg

Prosperity

WilderSueden

olaf081983

WilderSueden