House financing through SAB

Caution, please compare carefully with regular bank loans!

Caution, please compare carefully with regular bank loans!

Yes, of course, but why caution? Just because of the missing options for special repayments? Or because of what?

Due to the conditions one gets today at a bank / savings bank. Above all, one is fully flexible regarding repayment etc.

With the SAB as an example, one is tied to certain packages.

If you take the KfW programs (124 and 153 (for KFW 55,40, 40+), you can definitely make the regular repayment with the latter. Even with the 124 program, you can make special repayments, but you have to pay a prepayment penalty.

What exactly do you mean that with the SAB you are tied to certain packages? You can also get a normal annuity loan there. I will find out tomorrow what the conditions are there. Unfortunately, the promotional loan for children (75t) is no longer available at the moment, the fund for it is exhausted...

The additional loan for children (€75,000) unfortunately no longer exists. Maybe it will be available again in the new year, but it could also happen that this will only be the case in late summer (according to today's information from SAB).

I have now also received an offer, conditions like yours goldi09111, only the supplementary funding loan (for us €95,000) at 1.41% with a 15-year fixed interest rate.
You can make special repayments on the KFW153 (KFW55,40 or 40+) there just like outside SAB.
The supplementary funding loan can only be repaid early at 2.5% p.a. and it even has a repayment-free period (1 year).
The only thing is that the commitment interest after the commitment-free period of 12 or 4 months (KFW124) at 3% is higher than usual.

So far, I can’t see any real catch. You have to get the form filled out by the responsible municipality, which in my opinion is not a problem.
Of the 3 comparative offers that you have to obtain from home construction companies, I haven’t been told anything yet.

Precisely BECAUSE it is a great starting position, I don't quite understand where NRW.Bank sees a need for funding there. Or to put it another way: clearly more builders who consider themselves "well-off" should rather check again whether they could also take advantage of subsidies

The great starting position is relative. When calculated in tax class I without children, depending on the level, between €3,000 and €3,500 net remain. That is, of course, more than enough for a single household.

Married with 2 children in tax class IV, a "solid" €200 more remains, which then has to support 3 other people. That is a completely different calculation.

Best regards Dirk Grafe