How much credit is possible?

  • Erstellt am 2010-12-30 21:36:16

Alise1

2010-12-30 21:36:16
  • #1
Hello,
we plan to build a single-family house in 2011.
We are a married couple (31 and 29 years old) and a 3-year-old child.
We have a net income of 2800,- per month (2 salaries and child benefit).
We have flexible expenses of about 1200,- per month. Fixed expenses such as insurance and incidental costs.
At the moment we live with my parents and do not pay rent. We already have a developed plot of land in the countryside (value approx. 45,000,-) and 25,000 in equity. In addition, there are 2 building savings contracts that are not yet eligible for allocation.
It is to be an energy-efficient house and we are planning with a KFW loan and possibly an interest-subsidized loan from the Landesbodenkreditanstalt.
Due to my husband’s profession and my father’s company, the roof and electrical installation can be done entirely by ourselves. Almost everything else can also be done by ourselves (tiling, painting work as well as interior finishing).
What do you think, how much credit from the bank is possible if we can repay about 700,- per month?
Thank you very much.
 

S.D.

2010-12-31 14:21:10
  • #2
Hard to say. It depends on how you want to distribute the loans and how long you want to take with the repayment. A building savings contract, for example, has relatively high repayment rates. With the Kfw, you can choose between 10 and 30 years. With a good and reasonable mixed financing, I would roughly say that a loan amount between 120,000 and 150,000 euros should be manageable. Regards
 

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