MarcoT
2010-06-01 11:40:54
- #1
Hello Robert,
if you now even want to invest 300,000 EUR of equity, I agree with you. That really means almost zero risk for the bank with your project.
Since you want to repay the loan completely after 5 years, only a 5-year fixed interest period makes sense (the loan must not be fully repaid during the fixed interest period – so a 10-year condition is out of the question).
Of course, even as a self-employed person, you can receive a KfW loan from the [Wohneigentum] program for the purchase of an owner-occupied property (not for commercial or rented properties).
However, the term is at least 20 years and would probably no longer be an option for you if you want to have everything repaid in 5 years.
The conditions for the 5-year range are 2.80% nominal and 2.84% effective.
But it also depends on exactly what you do professionally. Some banks impose restrictions here.
Best regards
M. Thiemann
if you now even want to invest 300,000 EUR of equity, I agree with you. That really means almost zero risk for the bank with your project.
Since you want to repay the loan completely after 5 years, only a 5-year fixed interest period makes sense (the loan must not be fully repaid during the fixed interest period – so a 10-year condition is out of the question).
Of course, even as a self-employed person, you can receive a KfW loan from the [Wohneigentum] program for the purchase of an owner-occupied property (not for commercial or rented properties).
However, the term is at least 20 years and would probably no longer be an option for you if you want to have everything repaid in 5 years.
The conditions for the 5-year range are 2.80% nominal and 2.84% effective.
But it also depends on exactly what you do professionally. Some banks impose restrictions here.
Best regards
M. Thiemann