Our Construction Project - Our Financial Situation

I too am professionally surprised by some of the consultations at banks.

But there are 2 things to consider: 1) What does the customer want? 2) Can I as a bank grant the loan taking the risks into account?

From the bank's perspective, both have to be reconciled and since you, apparently not stupid based on the text above alone, a loan approval is just a formality.

At what point should the bank advisor put you off the loan only to then be out of the race?

If it fits, then it fits and there is (still) no full coverage insurance for advisors. You are responsible for your own finances even if the [VBZ] would like otherwise.

In this respect, the presentation of the finances looks solid with comfortably enough buffer.

Hello f-pNo, it is indeed currently 350 euros (just under 80 euros per week). This is also because I have fruit and various food available at work, so I do not incur any food costs during the day. Our little one does eat enormous amounts, but during the day at the daycare. Nevertheless, you are of course right - in the long run this is not sustainable as soon as she spends more time at home. However, we are naturally flexible here and as you said, we have planned the buffers for that.

Hello toxicmolotow, thank you for the assessment. From this perspective, of course, it's true - the bank sees that it is feasible and gives a thumbs up. However, I hope that checks will still take place here? Like whether we are even creditworthy (Schufa) or if the equity capital is correct?

If you say that you have and want to contribute a sum X as equity, they will eventually want to see a bank statement for it (formality/peanuts). The credit bureau is usually more of a formality and a minor issue.

What do you think banks want to see in the credit bureau? The only deal-breaker is "lying" and sworn affidavits.

Whether you financed a TV at MM usually doesn't matter to anyone if it’s not extremely tight.

I must confess, I do not know what they see and want to see. I have never had a loan or financing, nor has my wife. Therefore, I entered the discussions with different expectations and also had documents with me ([Gehaltsabrechnungen etc.]). But I did not have to present these, as I know the net salaries by heart. So such a check is not done when the offer is made, but only before signing the financing contract, as I suspect.

Hello f-pNo,

maybe you can take another quick look with the changed parameters (KfW55, city villa, etc.)

I hope I understood what you mean...

Two-story with ZD will not be more expensive than two-story with a gable roof; rather about TEUR 5/6 cheaper. In earthquake zone II, not every brick can be used, so I guess it's the hollow bricks (I don't know the provider or their materials). Further additional costs concerning the earthquake zone can only be reliably named after calculating the statics following the soil survey.

For KFW 55, the hollow bricks must be filled, insulation increased, and usually a controlled ventilation system installed. For this type of house, this easily adds TEUR 18-20 on top.

Was that what you meant?

Rhenish regards