Review of construction financing / loan

What exactly interests you? I finance a similar amount as a sole earner, even with less net income than the OP alone.

Correct, everything solid on my end

Zauberwesen wrote that for the majority it is probably very unlikely to structure financing so that one person can bear it alone. I would be interested to know if that is actually the case.

For us, the rate is such that one of us could bear it alone.

I told you that I am bearing the rate alone. Personal circumstances can (extremely) differ from what is advised here (also by me).

Zauberwesen wrote that it is probably very unlikely for the majority to set up financing in such a way that one person alone can bear it. I would be interested to know if that is actually the case. For us, the rate is such that one of us could bear it alone.

An extreme case is the death of a partner. There are affordable term life insurances; anyone who does not take that out is stupid. Otherwise, the main earner needs disability insurance, which is also expensive. In case of separation, things usually get complicated. Almost always, the property is sold. The bank does not care about the separation at first! Both remain loan borrowers. This concerns all 650k, 2% repayment with 4,500 net and [kinderwollenwirniehsben Finanzierungen].

The problem is: The bank evaluates your situation now. That your girlfriend will earn money someday or you will earn more money is also welcomed by the bank. But it is not relevant for the current offer.

The bank then only considers your income. That is also why your interest rate is so high. The bank factors in the currently visible additional risk – as of today. So it's unfortunate because you are now securing an interest rate at the current level, but in two years your personal situation (more net income) will look completely different.

I personally also find the remaining debt too high and the repayment too low. The term is 34 years. Phew. Overall, a risky finance

The problem is: The bank evaluates your situation now. That your girlfriend will earn money someday or you will earn more money is also welcomed by the bank. But it is not relevant for the current offer.

The bank then only considers your income. That is also why your interest rate is so high. The bank factors in the currently visible additional risk – as of today. So it's unfortunate because you are now securing an interest rate at the current level, but in two years your personal situation (more net income) will look completely different.

Very good explanation of why the interest rate in this case does not even come close to the advertised conditions on the internet! Since Thomas has done his calculations quite well, I would like to logically continue the cited thought:

Would it be an option for Thomas to go for only 5 years of fixed interest? 5 years with the "bad" interest rates and then, under new conditions (two incomes, some (special) repayments already made, house value increased, etc.), to finish financing in 5 years with top conditions? It doesn't look like interest rates will rise in the medium term (crisis is looming, continued expansive monetary policy has already been communicated, etc.) and if they do, one can take out a forward loan in two years.

: What do you think about this idea?

Your salary / Your salary is sufficient. I would see it relaxed. The conditions are just super bad. We have 15 years for 1.26%

The extreme case is the death of a partner. There are affordable term life insurances; anyone who doesn’t take one out is stupid.

Or he simply doesn’t get term life insurance, like me for example.