Offer evaluation for banks

2018-08-03 16:49:47

...without income but harder to assess because a bank looks at creditworthiness when granting the conditions. Of course, it's your decision whether you want to disclose that.

Based on what you post... too expensive. And if there are no other reasons in favor (high special repayment possible, due [Bausparvertrag's]), the fixed interest rate/outstanding debt at first would be too high for me.

2018-08-03 16:53:28

I just had a quick look on the go. What strikes me first:

You have 100% financing (equity = incidental costs), which is of course not optimal and maybe that's why the terms are like that. It would also be a question how your income situation and other circumstances are.

Personally, I find the terms generally too expensive. In both variants. Over 15 years more than 2% interest is steep. Where do the offers come from? Internet? Broker?

The other thing is that apples are being compared with pears. The second variant with the building society contract offers a much longer interest rate security.

What is important to you? Have you already looked at how much outstanding debt remains after the end of the fixed interest period?

Why 100% financing? According to my calculation I come to under 90%. The brokerage runs through the National Bank for the first option and through the Postbank for the second.

2018-08-03 16:56:30

Because the additional costs are not included. Your equity is enough to cover the additional costs. That means the house must be financed 100% by the bank.

Or the other way around. If you couldn't pay tomorrow and the bank had to sell the house, they wouldn't get the additional costs back.

2018-08-03 16:59:22

Get more offers. But first, think about what is important to you. Otherwise, you'll get lost in the variants.

If you value interest rate security, then go ahead and get offers for a mix of 15 and 20 years, for example, or even longer, and compare them with offers including [Bausparvertrag]. That would be the most comparable.

I would also suggest going to a regional bank. Around here, people don’t do so badly with that, especially if you’re aiming for nearly 100% financing.

Oh, and one more thing... interest rates are often very hard to compare... look at the total costs (i.e., the sum of all payments)...

2018-08-03 17:00:18

Okay, that makes sense to me. I thought the equity was always set in relation to the purchase price.

What can I generally do to reduce the % or to get a better offer in general?

I have also scheduled an appointment with Sparda and Interhyp.

2018-08-03 17:03:01

Go ahead to Sparda... they might hesitate a bit because of the equity. I've been told several times that they don't really like 100% financing. But there are still more regional banks.

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Offer evaluation for banks

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