Knowing the credit limit one year in advance – is that possible?

  • Erstellt am 2022-01-25 15:08:48

Ysop***

2022-01-27 06:51:44
  • #1
As a child, I wouldn't want to snag the house too cheaply at my parents' expense if they still need the money themselves. I don't find it strange at all that the parents would like to have the value of the house. There is absolutely no talk of squeezing to the limit here :rolleyes: Would it be okay the other way around if the child squeezed the parents?
 

K1300S

2022-01-27 07:18:56
  • #2
I don't think so either, but I know that with my children I would always allow enough leeway so that it fits for them. Maybe the wording here is just a bit unfortunate.
 

Tolentino

2022-01-27 07:27:01
  • #3
Yes, until they have completed their first training. After that, definitely more socially accepted than the other way around, although I do not see any clear signs of that described here yet.
 

Hausbautraum20

2022-01-27 07:36:05
  • #4
What I don't understand: The house value and the maximum credit limit for you are two completely different things. If the house is worth 300k and your bank advisor now says that he will give you a 600k loan, then you will pay 600k? Also, many people ask the bank at the beginning of their search what credit limit would be conceivable. So I don't find that strange at all. And otherwise, I agree with my predecessors, it would be more sensible to buy it now, since interest rates will rise.
 

minimini

2022-01-27 07:45:09
  • #5


The context only becomes relevant when house value/purchase price > credit limit. ;-) In this respect, is right that she has to clarify both. I don’t read here that the credit limit determines the value.

don’t you have an approximate idea of what the place would go for on the market? When I think of my parents’ house, for example, I see quite a few things locally on the usual portals that are comparable and I think I can assess that quite well. That helps for a very first reference point, e.g. the 100/110 rule of thumb already gets you further.
 

chand1986

2022-01-27 08:40:47
  • #6
a) My possibly incorrect assumption that financing 100% of our needs with a fixed-term contract + probation period could lead to unfavorable loan conditions. b) My possibly incorrect assumption that my parents might have irrational issues with “renting” in their former own house. If both a) AND b) are wrong, objectively nothing. No. I definitely communicated that incorrectly, perhaps misunderstood/misused the term 100% financing. We want to know how much the property is worth to the financing bank as collateral and to have THIS amount as a 100% loan. Whether we would get more based on our salaries is not the issue. Maybe it doesn’t work that way? My parents would like to know THIS still unknown amount for their own planning security. Since I assume that this is LESS than the market value to third parties AND we save 6.5% tax on purchase (about 20k), I don’t even see the “squeezing” on the horizon. I assume that I did not represent the situation well. A very rough one. The free(!) super quick analysis you can get online from various portals resulted in a range from 340k to 380k in September 2021. Such a delta is too much for my parents for their own planning, especially since their purchase and this valuation would also be 1.5 years apart timewise. I didn’t explicitly write that either and in my opinion did not imply it? So you understood me correctly, see above!
 
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