Planned new construction. What financing?

Good day, I intend to start a new construction next spring. Costs: the house approx. 270,000, land 80,000, total 350,000 Available funds: - Equity 40,000, - From the sale of a house approx. 170,000 will be added in the next months, - another 60,000 in November 2013 from a life insurance policy. Which financing should I choose? I was thinking of 50,000 KfW (10 years), 60,000 short-term annuity loan (until Dec.2013), 70,000 annuity loan (15, better 20 years term). Ongoing available funds/month for loan repayment: 500.00 € Thank you in advance! Best regards NA

A smart man wrote here in the forum a while ago that for every 100k EUR loan amount, 500 EUR annuity is incurred. This is, in any case, a rule of thumb. Very imprecise, but for me it fits *exactly*, even though I didn’t know it before ;)