Realistic financing/What financing options are available?

We currently want to buy a house. Our monthly installment could be 800 €. Equity currently amounts to 20,000 €. I am permanently employed in the public sector. My partner is an automotive mechanic (but also wants to continue his education). One(!) child will definitely come as well. We are interested in a house that would eventually cost us 206,000 € including everything. We would also like to install a photovoltaic system estimated at 10,000 €. (already included in the 206,000 €) The house itself is from 2011 (divorce of the builders). Energetically, it should not be in a bad condition and has a solar system on the roof. (Walkthrough with building surveyor will definitely take place before purchase) I would very much like to take advantage of the currently low interest rates. Is it possible to work with KFW? Where can you find an independent and reliable(!!) mortgage broker and what does it cost? What is a sensible loan term for houses nowadays (I am 27, my partner 31)? How can you financially protect your house (apart from life insurance)?

Hello

I assume that a broker will not be involved? Then your equity would be sufficient. A brief question about you, what is your combined net income?



Intermediaries should NOT cost anything. Like insurance agents, they receive their commission from the bank. You basically pay it through the interest.


Otherwise, you should have at least a 15-year fixed rate & free prepayment options included.

I would first visit your house bank and have them calculate feasibility, then contact intermediaries (e.g. Interhyp / Dr. Klein)
Many report having had good experiences with Interhyp.

The Kfw home ownership program is possible, maybe also KfW70. Whether it makes sense for you will (hopefully) be something a competent intermediary can tell you!

What do you mean now by broker? A real estate agent? The house is being sold through a broker. However, the commission is already included in the final price. The final price of the house amounting to €206,000.00 is really the FINAL price here. Together we currently have €3,000.00 monthly. When you write that we pay a mediator through the interest, you don’t mean that we get a more expensive offer thanks to the mediator, do you?! I would also go to the house bank. But they also think of their own interests first.

Why is the house so cheap?

How big is the house? Does it have a basement? How big is the plot? What do plots usually cost per sqm?

Under €200,000 for a house built in 2011 I somehow can't imagine. Here houses from the 60s with a 10,000l oil tank etc. are sold for well over €280,000. (Bodenrichtwert knapp 150€/qm)

Because that is the normal market value here. (in the middle of nowhere. Highways 50km away in a small village) The purchase price itself is still significantly lower. (A garden still needs to be created and the garage completed. I have each accounted for with €10,000. and it is already included.) Houses from the 60s are offered here for around €80,000.

Hello

if the purchase price, photovoltaic, broker, and [grunderwerbsteuer] are to be financed here, I see it as tight