Is property financing feasible?

  • Erstellt am 2015-01-07 19:28:36

Stefan G.

2015-01-12 14:58:40
  • #1
Hello Nina,

the thing with the KFW loan is a tricky one. Our house easily reaches Kfw70. Nevertheless, a KFW appraiser must come for the acceptance of our house. According to an inquiry with the KFW bank, the appraisal for the loan for our house / region costs €2,800.

So, first get the money back in. Somehow, I don't see it. We are about 28% above the required energy regulation. That is more than enough for me. We have also considered the 20 years option. After another conversation with our advisor, we now have an offer of 2.48% for 25 years, with 2 free repayment changes and 5% prepayment p.a. I think we will go with that. I am fully satisfied with the offer. Even without prepayment, I will easily get through the fixed interest period.

15 months free provision
 

toxicmolotof

2015-01-12 15:10:40
  • #2
What exactly is a KFW appraiser and what exactly are they supposed to charge 2,800 euros for? And how does KFW know what that costs? Do they have their own appraisers?

I advise the OP to consult their own structural engineer about what they want for KFW70-compliant support including all necessary confirmations.

Some prefabricated house providers even include these services for KFW houses. Maybe your structural engineer as well?
 

Jochen104

2015-01-12 15:36:23
  • #3
So with us, the thermal insulation certificate (which we need anyway for the building permit), the online confirmation for the application "Energieeffizient Bauen" (KFW 153), the BlowerDoor test (which I would do anyway), and the final confirmation cost just a quarter of the above-mentioned expenses. Stefan, it’s best to talk to your contractor, architect, structural engineer, or someone like that. Maybe the costs are already included in the house you commissioned.
 

Stefan G.

2015-01-12 15:52:13
  • #4
I can't tell you exactly. These fees were quoted to me by KFW Bank. Apparently, this has been the case since May 2014. Thermal insulation certification and BlowerDoor test are also done here. As I said, we stick to the 25 years and 2.48%. With the 5% special repayment, I am quite happy, and even without special repayment, we have no outstanding debt during the fixed interest period. That gives me enough security.
 

Jochen104

2015-01-12 16:02:41
  • #5

That sounds like the costs for the construction supervision you need if you want a KfW55 energy-efficient house. For KfW70, it probably won't be much more than an additional printout for your energy consultant (just a guess!).

That is also a good interest rate for the term. Do you know what your loan-to-value ratio is? Below 60%? Because the KfW loan is usually subordinate and could possibly reduce the interest rate on your bank loan a bit.
 

toxicmolotof

2015-01-12 18:33:24
  • #6


No, it usually isn’t. And that’s exactly why it normally doesn’t work.

There are only 2 (3) cases where this applies.
1) Liability release of KfW for the forwarding institution. But this does not exist with 124/151/153 etc.
2) The bank somehow includes the risk costs of the KfW loan already in the primary condition, thus applying a corresponding markup there.
3) The bank cannot calculate.
 

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