Real estate purchase three financing proposals

Good evening,

we would like to buy a house. We have been to four banks and have received three offers so far... Unfortunately, we don’t quite understand everything and would currently decide on the [Bausparvertrag]. But unfortunately, we only read negative things about it. Maybe someone can help us. Here are some details about us and the offers:

2 adults (30 and 31 years), 1 child (18 months)
Income: 4,500 euros net + child benefit
Expenses: private health insurance 250 euros
No other liabilities, only the usual insurances (liability, car insurance...)
Equity capital 50,000 euros (almost all goes towards incidental costs)

House from 2006
140m2, 5 rooms, 500m2 garden
Purchase price 340,000 euros

Financing offers for 340,000 euros:

1. Full repayment loan
Nominal interest rate: 2.8% p.a.
Effective interest rate: 2.86%
Repayment rate: 2.14%
30 years
Monthly installment: approx. 1,400 euros

2. Combination offer
Loan: 220,000 euros
Interest rate: 2.37%
Repayment rate: 2.3%
30 years
Monthly installment: 850 euros

[Bausparer]: 120,000 euros
Pre-financing:
Nominal interest rate: 2.2% 220 euros
Savings rate: 170 euros
Together up to allocation 390 euros
Allocation: 15 years

Loan phase:
Nominal interest rate: 2.85%
Interest and repayment contribution: 620 euros
Duration: 12.5 years

3. [Bausparvertrag]
Pre-financing:
Nominal interest rate: 2.05% 580 euros
Savings rate: 820 euros
Total: 1,400 euros until allocation: 12 years

Loan phase:
Nominal interest rate: 2.35% Effective: 2.52%
Interest and repayment contribution: 1,360 euros
Duration: 14.5 years

Special repayment: [Baukindergeld]

Total duration: 26.5 years

Why would we prefer the [Bausparvertrag]? The duration is almost 3 years shorter than with the other offers. Or do we have a misunderstanding?

Thank you very much for reading :)

Clear no. 3. Lower interest saves 3.5 years.

Building savings contracts have even more advantages. Extra repayments, for example, are possible at any time without having to agree on it. But I bet offer one is not the end of the line yet, so negotiate with the BSPV in the background.

Building savings contracts have even more advantages. Special repayments, for example, are possible at any time without having to arrange it. But I bet that offer one is not the end of the line, so negotiate with the BSPV in the background

We already tried... but all we got was the building savings contract. So there are no hidden things with such a pure building saver? Why is it disparaged everywhere?

Don't know.

Why is this being spoken of so badly everywhere?

Because this option is usually more expensive than the classic annuity loan. However, it doesn't look like that for you right now. The 2.80% is also not necessarily a top interest rate. There should still be some room in the market. Question about option 3 though: How does such a low rate come about in the repayment phase after the savings phase? After 12.5 years, you should have saved around €123,000 and thus still need to finance €217,000. But that doesn't match the rate. What are the closing fees for the building savings contract? Are they credited to the loan?