Question about construction financing

OK, thanks already. As soon as I know something new next week, I will get in touch.

Unfortunately, I don't have any interest rates or anything else. He roughly calculated everything first because we were there without an appointment and our original advisor is no longer there. I only know that the fixed interest rate period is 10 years.

A fixed interest period of 10 years and a full repayment loan do not go together. I suspect that after the 10 years a significantly higher interest rate was assumed, which then led to a repayment period of 35 years.

No, I asked the financial advisor how long the fixed interest rate period is. And he told me it is 10 years.

Which simply means that the remaining outstanding amount must then be financed at the interest rate to be negotiated at that time (alternatively: paid, but that is rather the exception...)

Guys, you are talking here about a building savings contract model! <-BHW

The fixed interest rate for the interim financing runs for 10 years. Then it is presumably supposed to be replaced with the "real" building savings loan.

The OP should come out with details for all components. ;-)

Can you explain that in more detail?

As soon as I have more information, I will publish it, the gentleman wants to get in touch with me this week.