How long is the fixed interest period?

I will now try to explain a building savings contract simply and understandably:

A building savings contract with a savings target consists of a savings phase and a loan phase. In order to use the loan, you have to save a certain percentage of the savings target (usually 40 or 50%).

Example based on a contract with a savings target of €60,000 and 50%: First, you have to save €30,000 at a certain interest rate. When this (and other factors) has been achieved, the contract reaches allocation. Then you have the choice whether you want to have the €30,000 savings paid out or whether you want the €30,000 savings + €30,000 loan. The conditions and repayment rate etc. are already set at the time of contract conclusion.

More details can also be found on various websites – or very importantly: with the respective contract.

If the contract was concluded many years ago, it will probably not be worthwhile to use the loan (interest rate too high). However, you should reconsider this when the contract becomes ready for allocation. (Decision for building loan if the building loan rate is lower than the normal loan interest rate and the monthly burden fits.)

All right, thank you. Then there is a 30TEUR credit.

Hello, you forgot that you also have to repay the KfW loan during the first 10 years. Then your calculation with a rate of €1200 no longer works. If you want to repay the KfW loan with about €484 additionally during the first 10 years, it works out with a remaining amount of about €50k.

Have you considered that as well?

Yes, that is factored in. Since we can adjust the other loan quite well and the KfW loan has a fixed rate (which is really not very high), that should work.

So you pay an installment of 1684 euros for the first 10 years? Ambitious :)

Net net income together 5200 euros, both 2600 each. There will be increases (her bonus, my collective agreement). Loan 260,000 euros. Of which 50,000 euros KFW loan with 1.0% for 10 years. The plan would be to take the remaining 210,000 euros as an annuity loan through e.g. Sparda. For 15 years we would have an interest rate of 1.87% and a quite flexible offer with 10% special repayment and annual installment adjustment.

I would only fix the rate for 10 years under these conditions. Inflation would also increase your incomes; either way, the remaining debt is not that dramatic, and you still have time.

So you pay a rate of 1684 euros for the first 10 years? Ambitious :)

With 5200 net I still see room there (for special repayments).