Which loan is feasible?

  • Erstellt am 2015-03-18 12:14:11

Haus-Starter

2015-03-18 12:14:11
  • #1
The following initial situation:

The following 3 options are available monthly for interest and repayment:

Minimal: €2500
Realistic: €3200
Optimistic: €4000

for secure availability.

What is the maximum credit limit for a loan variant with the following key points:

- Duration 10 years
- Repayment approx. 60 to 65% of the loan amount
- Option for special repayment
- The securities could be provided in full by land charges, or to significant parts from life insurances
- The repayments would consist of proceeds from photovoltaic systems and rental income (not from salary)
- WITHOUT [KFW]-funding (as it is uncertain whether all [KfW] requirements can be met during construction)

What would be a realistic loan interest rate from today's perspective?
What would be the minimal/realistic/optimistic credit limit?
 

HilfeHilfe

2015-03-18 12:58:14
  • #2
A good broker can tell you that.

I gather that the majority of the income is generated from rental & photovoltaic feed-in. Generally, with capital investments with little or no equity and a certain property size, you will have difficulties.

How does it look otherwise? Income, other loans, employed, equity?
 

Haus-Starter

2015-03-18 13:41:19
  • #3
Hello

I thought that a salary as a "secure" installment payment is not as secure as, for example, guaranteed income from, for example, photovoltaic systems..... of course... even an eon can go bankrupt. But it could also be that I will be unable to work tomorrow... Therefore, I thought that fairly "secure income" like long-term rental income, or photovoltaic feed-in tariffs, would be preferred by banks.
My net salary, after deducting various insurances (pension provision (life insurances), health insurance, various household insurances, legal protection, etc.), amounts to about €4000 net. From this, normal living expenses, vacations, and savings are covered. However, we did not want to include this salary in the financing because, on the one hand, we do not want to restrict our current lifestyle, and on the other hand, we want to continue saving capital (on a smaller scale) in parallel.
Our equity ratio in the planned total investment will probably be between about 25 to 33% (depending on the actual cost of building the house).
 

HilfeHilfe

2015-03-18 13:58:42
  • #4
Hello!

Why should rental income from leasing and income from photovoltaic systems be safer for a bank than a salary?

I don’t understand that. There are rent dodgers, photovoltaic systems can fail, changes in laws, income, etc. pp.

Equity share sounds good. How big can it be?
 

Haus-Starter

2015-03-18 16:05:02
  • #5
Well, I thought that income from rental and photovoltaic systems is "prefered" by banks over salaries from smaller medium-sized companies. But if that is not the case, honestly I don't care, since in the end the bank will probably only care about "THAT" the money comes in regularly and not "WHERE" it comes from.

Well... how big can it be ......:-)

The question I ask myself is: How big will "it" (the maximum loan amount) be if I consider the 3 different starting scenarios.

Depending on that, I would plan the house accordingly, or expand it in stages.

Since I try to live by the motto: "Having is better than needing," I would probably max out the possible credit limit anyway, as the current interest rate situation is more likely trending upwards over 10 years rather than downwards. And if after construction there is unexpectedly a significant amount of money left, nothing stands in the way of an appropriate special repayment. The question is just whether, with the repayment options, you are moving in a range of around 500k or (significantly) above, or (especially with the minimal variant with 2500 €/month) below.
 

HilfeHilfe

2015-03-19 07:33:24
  • #6
Such calculations are risky. It is best to consult the house bank. Here you only get vague estimates anyway. And income from [V+V] is difficult anyway.
 

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