House financing through SAB

2016-01-19 22:40:09

Briefly about our financial situation.

He approx. 2,400 net income - 12 monthly salaries, no Christmas, night, and holiday pay

She approx. 2,400 net income (incl. 1x child benefit) - 12 monthly salaries, Christmas, night, and holiday pay according to TV-L regulations as a teacher

From approx. May/June my wife will be at home regarding the 2nd child. Planned return June 2017.

According to Excel list income and expenses, we have approx. €1,000 available for the monthly installment.

Income sounds good. But only €1,000 for the installment??? I hope that doesn't mean you have €4,000 in monthly expenses? You should consider higher additional housing costs and reserves as well as savings. Especially since this is a 100% financing. The €43k equity capital is probably just enough for the additional costs.

Regards, Steffen

2016-01-19 23:03:37

But that means it including all costs such as vacation, car, insurance, taxes, reserves or provisions house, special repayments...

2016-01-19 23:47:04

Well, if you don't answer my questions, you can't expect a proper analysis.

The KFW 124 is apparently additionally subsidized through the SAB. This brings it down to 0.25%.
The additional funding at 0.65% fixed over 25 years is naturally the real highlight.
And the bank loan is perfectly acceptable.

Actually, you can't go wrong with these conditions. I almost find it outrageous that the funding varies so much in different federal states.

2016-01-20 07:33:11

Actually, you can't really go wrong with these conditions. I almost find it outrageous that the funding varies so much between different federal states.

Supply and demand?

2016-01-20 07:37:34

Well, if you don’t answer my questions, you can’t expect a proper analysis.

The KFW 124 is apparently additionally subsidized via the SAB. This brings it down to 0.25%.
The additional funding with 0.65% fixed over 25 years is of course an absolute knockout.
And the bank loan is completely fine.

Actually, you can’t go wrong much with these conditions. I almost find it outrageous that the funding varies so much in different federal states.

In the new federal states, they want to create an incentive especially to keep young people settled. The East is practically bleeding out. I have in-laws there and we visit often. Only old people. Even refugees want to leave.

As far as I know, the SAB also has a limited pot of funds. Especially towards the end of the year, it gets tight.

2016-01-20 09:10:02

@toxic, sorry if I missed a question...

Thanks for the info or assessment.

Yes, that's true. A lot is being done here so that not everyone moves toward the old federal states.

Do you have any tips regarding the second child, better to apply right away or wait for the 2nd child with the risk that financing might fall through because only one person is working full-time?

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House financing through SAB

Steffen80

Goldi09111

toxicmolotof

Wastl

HilfeHilfe

Goldi09111