Repayment, installments, and interest of the financing all in order?

Hello forum,

I have been reading along for some time and now would like to speak up with a concern.

My wife & I (both 30) would like to buy a single-family house. The purchase price is €280,000, renovation costs amount to €50,000.
In total, we need to borrow €300,000. The ancillary costs (about €20,000) and €30,000 of the renovation costs we will pay from equity.

I now have the following financing offer.

Full amortization loan, 30 years term over 80% of the loan amount (with special repayment options and fully repayable from the 5th year), [Kfw] for 10 years and another subordinated loan over a small amount for 10 years:

€224,000 at 3.4% interest, 2% repayment --> €1,008 monthly rate

€50,000 [Kfw] at 2.35% interest, 2% repayment --> €181.25 monthly rate

€26,000 at 2.7% interest, 2% repayment --> €101.83 monthly rate

monthly burden: €1,291.08

Alternatively, we have this offer:

15 years term, except [KfW]:

1. €162,500 at 2.59% interest, 2% repayment --> €621.56 monthly rate
2. €52,000 at 3.39% interest, 2% repayment --> €233.57 monthly rate
3. €35,500 at 3.89% interest, 2% repayment --> €174.25 monthly rate
4. [KfW] €50,000 at 2.35%, 1.92% repayment --> €178.07 monthly rate

monthly burden: €1,207.45

Are the offers okay? Which one would you tend towards?
Thanks for your help.

Fabian

I would rather choose 20 years and a higher repayment rate. Then the interest rate should also be better. You should definitely calculate that. It is not possible to say whether the whole thing is okay like this. Some information is simply missing.

Thanks already for your reply!

Which information is missing?

Why are the interest rates for the 2nd and 3rd loans so high compared to the 1st loan for the 15-year term?

I roughly calculated both for the 1st year without considering compound interest.

Option 1
Interest €9,493
Repayment €5,999.96
Installment €15,492.96

Option 2
Interest €8,527.50
Repayment €5,961.90
Installment €14,489.40

In both options, you have almost the same repayment with differently high installments. In my opinion, the cheaper interest in Option 2 should be put into repayment to have a lower remaining balance after 15 years and thus over time the same again. To make the whole thing somewhat comparable, the installments should be adjusted.
As it is presented now, Option 2 can never be worthwhile, even if the remaining capital is offset by an interest bearing credit balance.

If the installment is to be increased in Option 2, then of course preferably with the loan with the highest interest rate.