Is funding realizable?

As already mentioned in another post, we are in the middle of the discovery and realization phase. This means we roughly have the "basic framework" and figures with which we can now confront the banks/financial advisors. But many know a lot anyway, so here are just the key data. Maybe someone has a better idea. All values and figures are simply rounded.

Plot (fully developed): 515 sqm = €75,000

House (Kfw70) 111 sqm, pure living space (solid construction) €155,000

=> Construction project = approx. €200,000 (additional items are estimated rather generously than narrowly)

Own contribution/muscle mortgage approx. €20,000

Financing should be feasible with one (my) salary.
Salary: approx. €2,500 net (civil servant; married; 1 child)
Loans approx. €100/month otherwise no other burdens.
Insurance burden (incl. car tax) approx. €380/month

KFW(124) home ownership program: €85,000
Kfw(153) energy-efficient building: €50,000

Bank loan: approx. €130,000
Fixed interest period: 15 years

I have an offer from the financial planner of our construction company:

Total installment amounts to:
€980/month in the 1st year
€1,166/month in the 2nd year (Kfw: €380 + €225/month) + (bank: €560/month)

Additionally approx. €185/month housekeeping costs

==> €1,351/month, so a little more than 50% of the salary

Hello Neu_Kieler,

realizing this financing request will not be easy since you are not using any equity. Based on the total costs listed below, I have found only one offer.

Total costs:

75,000 EUR land
200,000 EUR house costs
30,000 EUR acquisition and ancillary construction costs
285,000 EUR total sum


Financing:

20,000 EUR personal contributions
50,000 EUR KFW 153, 3.35%/3.39%, fixed for 10 years, 2.05% repayment = 225.00 EUR
85,000 EUR Kfw 124, 3.55%/3.60%, fixed for 10 years, 1.53% repayment = 359.83 EUR
130,000 EUR 4.25%/4.33%, fixed for 15 years, 1.00% repayment = 568.75 EUR

285,000 EUR = 1,153.58 EUR starting from the 2nd year (repayment beginning for KfW loans from the 2nd year)

Some fine-tuning is certainly still required here and the options for financial institutions are somewhat limited. But the financing should - albeit with some restrictions - basically be feasible.

Best regards M. Thiemann