Is the financing offer okay like this?

  • Erstellt am 2018-07-24 16:49:53

duolux

2018-07-24 16:49:53
  • #1
Hi,

I received two offers from my bank today.

We are planning to build a house that costs €650,000.
We have declared equity of €132,000 and still have about €60,000 in reserves.

Unfortunately, we don't know much about this, which is also okay nowadays.

Here are the offers in the attachment:
 

Zaba12

2018-07-24 17:00:28
  • #2
But you have already looked at the terms and the fixed interest period. Does all of that suit you so far? Are you not getting any stomach aches? So 520k€ loan with less than 2% repayment, seriously? If you just turned 20 then you should be finished by retirement, or maybe not depending on how high the interest rates are in 15 or 10 years.

The interest rate is your smallest challenge but ok for the loan-to-value ratio. Have you been to a broker yet? Maybe there is still something possible!

How come you ended up with the DB?
 

duolux

2018-07-24 17:05:26
  • #3



Thanks for your answer!

As I said, we don't know anything about this at all and are just at the beginning. Do you have any idea what would be better? Can you say that in general?
 

Zaba12

2018-07-24 17:06:58
  • #4
The question marks are not just decoration :) You have to have dealt with it in some form beforehand and informed your banking partner. An offer doesn’t just come flying to you, right? You have to determine the parameters yourself. After all, you will be repaying it for the next 40 years (..not the bank).
 

duolux

2018-07-24 17:09:36
  • #5


Yes, he sent me that. He said Deutsche Bank currently has the best offer.
As I said, we are new to this.
That's why I also registered here to make myself smarter ;-) I think it's great that there is something like this forum to exchange ideas!
 

Zaba12

2018-07-24 17:21:18
  • #6
I have to correct myself. The interest rates are 0.3% worse than at HVB (assuming that it will really be an 80% loan-to-value for you). But it's not just about the interest rates. What do you think about the fixed interest period? Either you go directly (online/offline) to them or through a financing broker. At the same time, if my suspicion is confirmed, you can give DB the middle finger for the *vertriebs_bla_bla*. Another question: The rate + additional costs would be 2350€ with the mDB offer! Do you think you can manage that over the next 30-40 years, depending on special repayments?
 

Similar topics
20.05.2013Question: 1% repayment and 10 years fixed interest rate. Will the house never be paid off?13
29.07.2014Fixed interest period and loan term for 10, 15, or 20 years?12
27.10.2014Fixed interest rate financing without equity?20
11.07.2016Interest rate fixation - financing assessment23
05.09.2017Finance land/house separately - fixed interest rate11
31.07.2018For how many years of fixed interest period would you currently finance?57
02.07.2019Financing with a 35-year fixed interest rate52
21.06.2019Larger loan with only 5 years interest fixation14
14.12.2019Fixed interest rate for the entire term or only 10 years?52
08.04.2020Early repayment after the fixed interest period expires22
12.03.2021What is the interest rate lock period in construction financing?92
17.06.2021House purchase - Is the fixed interest rate realistically estimated?11
14.02.202210 or 17 years fixed interest rate on a 250k loan?24
29.09.2022High interest rates with fixed interest, alternative flex loans?54
17.12.2022End of fixed interest period 2027 - increase repayment or other options?33
13.01.2023Forward loan, special termination, fixed interest rate, experiences?12
22.02.20233 years fixed interest rate - Which banks do this?13
29.04.2023Interest rate fixation 10 vs. 15/20 years14

Oben