Our home financing - Feedback wanted

Thank you for thinking about what we have more than enough thought about in the past months.

And I have discovered a mistake again, forgive me! It is 2% special repayment!

Oh, and thank you also for your future outlook! However, this will not take place as such, because among other things our equity has grown (among other things thanks to the wedding) and we are pretty well positioned!!

Best regards

Attention, do not confuse Sondertilgung and Tilgung. The monthly rate you specified corresponds to 1% Tilgung. The problem is that after 10 years hardly anything has been repaid. Sondertilgungen you will hopefully be able to make more than 2% per year. It is simply a fact that not much is repaid with this rate and interest rates will rise. But you have now taken the plunge and I wish you all the best. I think if you want to, you can manage it. You also have family who can support you in case of possible tight spots. All the best!

So bungalows are usually quite a bit more expensive (larger foundation slab, etc.) + land and ancillary construction costs/own contribution, the 255,000€ budget is tight (in which region/state do you want to build?), for a "normal" KFW 70 house the budget should be enough. The other question is whether you can find a bank that will approve this loan even with the 40,000€ own capital; given the income, that should currently be difficult. Regards

So bungalows are usually considerably more expensive (larger base slab etc.) + land and additional building costs / personal contribution, the 255,000€ budget is tight (in which region/federal state do you want to build?), for a "normal" KfW 70 house the budget should be sufficient. The other thing is whether you can find a bank that approves this loan even with the 40,000€ equity; with that income, it should be difficult at the moment.
Regards

Sorry, didn’t read the entire thread—but congratulations!!!

Congratulations that everything is working out now... but I also have to say: I wouldn't have dared to sign that. Do you really have only 1% repayment? And a fixed interest rate for 10 years? In comparison, we borrowed "only" 165K, 2% repayment and fixed for 15 years at first... so we pay 700 euros per month. My husband could easily manage that alone, even though we don't plan to have children and we both work full time (he's a civil servant, I'm an employee). What I don't understand is that the bank didn't advise you to have at least 2% repayment. We were ALWAYS advised at least 1.5%, otherwise we wouldn't have gotten a loan (despite 58K euros equity). After 6 months, we will also make the first bigger special repayment. Our plan is to get down so far in the first 15 years that the interest rates could even double if necessary without our rate increasing. I hope everything works out for you... especially if maybe children are planned—they cost a lot more :) We have finished our renovation and have been living in the house since the end of November (by the way, very close to you in Bertlich) and one thing I can tell you: you always find something to buy/have to buy/can buy/want to buy...

Every now and then we drive past "your" construction site and see that it keeps growing. You must already be in the middle of building. How is it going? Is everything working out? I hope everything is going well for you and that you can move in soon! This summer we worked a lot on the garden, and it was quite exhausting, even though the garden was already laid out. You probably also realize that you never really finish somehow... in winter, it continues inside... Have fun and maybe you have time to post an update...