How many offers and how far do they go?

The question in construction financing is actually not the score. Either one services their existing liabilities and therefore has no negative entries in the [Schufa], or one has problems with their repayments. In the first case, there is construction financing, with conditions primarily depending on the collateral (creditworthiness and negotiation skills may also play a small role). However, if one already has a bad [Schufa] = documented payment difficulties etc., one should have very good reasons for the bank as to why it should lend money to a "bad" customer.

Good day.

For us, it is like this: we have a property in sight and will probably buy it if it works out, 99%. Actually, we wanted to build, but unfortunately that probably won’t happen, anyway, different topic.

I have already compared something like this, but I would be interested to know which bank you do your financing with (2015)?

Furthermore, I have 50,000 euros in a building savings contract (Wüstenrot) where the interest rates are between 2.25 - 2.7 (I don’t remember exactly), since the interest rate at many banks is below 2, I don’t know what to do, possibly cancel the building savings contract and invest the equity capital with the respective bank? How would you do it?

I have never taken out a loan, so I am really clueless here, one doesn’t want to make a mistake!

The property costs between 220k and 250k (semi-detached house) and we would like to pay it off in 15 years! (equity capital from building savings + another 35,000 euros)

Best regards

How much money is in the building savings contract, is it ready for allocation?

Who finances with which bank or which insurance company is actually of little relevance to you, as everyone brings different conditions.

I would recommend that you get advice from an intermediary and obtain offers, if you have not done so yet.

Wow, that was fast.

As written, there are 50,000 euros in the building savings contract and it is already eligible for allocation. It is a 150,000 building savings contract!!!

The property is, by the way, a semi-detached house and is supposed to cost between 220k and 250k. Equity: my building savings contract + another approx. 35k!!!

Best regards

Almost all banks offer to check conditions online or by phone. Not much else comes out of non-binding inquiries anyway. We went to a broker and a bank and ended up with very good conditions - but it is still advisable to keep your eyes open. Only after we mentioned to our broker a cheaper offer from a direct bank (which he also brokers) did he fire up his calculator again and then "found" it... The bank we chose somehow also made 2 credit inquiries (the longer ones that remain for a year) with Schufa - but my score even went up by 0.9 because of that .. I don’t quite understand the Schufa system either...

In addition, I have €50,000 in a home savings contract (Wüstenrot) where the interest rates are between 2.25 - 2.7 (I don’t remember the exact figure right now). Since the interest rate at many banks is below 2, I don’t know what to do, possibly cancel the home savings contract and put the equity into the respective bank? How would you do it?

I am just considering whether the 2.25 - 2.7% interest rate you mentioned refers to the loan interest rate or still the credit interest rate from an old home savings contract.

OK – I’ll assume it is the loan interest rate, because otherwise giving a range would make little sense.
At this interest rate, in my view, it makes little sense to take out the home savings contract loan. The interest rates are higher. Furthermore, you would have to pay a loan fee once on this loan (unless otherwise specified in the contract).
The only advantage of a home savings contract loan is that you can repay a home savings contract loan at any time in any amount (including full repayment). With a classic loan, you pay your installment and possibly have the option of an annual special repayment. In addition, the fixed interest rate is not subject to an interest rate lock – that means the interest rate remains the same until the end.
In my opinion, you should specify the €50,000 + €35,000 minus a safety amount as equity when taking out the loan (provided you don’t have to pay for other things with it – e.g. kitchen) and take out an annuity loan.

For safety’s sake, I’ll briefly address the case that the posted interest rate is a credit interest rate.
Here, you should try to take out the €50,000 as a variable loan with your bank. The interest difference between your credit interest and the debit interest of the variable loan would be your "profit" (which, however, increases your home savings contract credit and is not paid out). If the variable loan later has a higher interest rate than your credit balance, you cancel the home savings contract and completely repay the variable loan. But beware: credit interest is subject to withholding tax, which lowers your interest income.