Is home financing with mother possible?

Good day,

My mother and I plan to buy a two-family house in the next few years and I would like some help from you regarding our plans, an assessment from people who might share their experience.

We want to buy the house in about 3-4 years. My mother (55) is a civil servant for life and earns €3000 net. I (23) am married and have a daughter. I am in a permanent employment relationship and currently earn €1900 net. With child benefits, we are at €2100. Our total income is thus €5100. We want to take out the loan together. The equity amounts to €25,000.

That is our life situation for now. The house should cost a maximum of €280,000. We have no debts or negative credit records.

Is this plan realistic? What are our chances of getting a loan approved in this constellation?

I would be very grateful for experiences/criticism/tips. Until then,

Best regards

The house should cost a maximum of €280,000.

Is that realistic in your desired area?

Is that realistic in your desired area?

Yes, definitely

If you want to buy in 3-4 years, how much equity can you save by then? The house will still need to be furnished / renovated or possibly even refurbished.

If I were you, I would get advice right now. It doesn't make sense to rely only on the opinion here in the forum and then find out in 3 years that no bank cooperates. The amount of your mother's pension will certainly also play a role for the bank. If suddenly €1000 are missing and you don't earn significantly more, it could become tight. Even if the bank is still okay with it, you have to clarify for yourselves whether you can still manage well then.

Maybe you should also start writing down your income and expenses now to know what kind of installment you could live with in good conscience.

What do you pay for (cold) rent? I assume that you are currently not living together, but each on your own? And how have the savings been so far? Will your wife also contribute a salary in the future?

Why with the mother?? And not with the man?