Will we get funding?

Hello everyone,

we want to build in 2012, but we don't know if we would get the construction loan from a bank or if we can manage the whole project at all?!
We have about 30,000 euros in equity (including [Bausparverträge]) and about 4000€ per month.
I think we have to reckon with 300,000€ - is that possible with 10% equity?
Best regards Gigi

With the available monthly income, I would basically say that it should be feasible. However, I do not know your other expenses or your lifestyle. For me, the question also arises as to why the equity is not somewhat higher with that income.

Regards

Hello gigi80,

there are a lot of factors that also have to fit in 2012.

Bank conditions have recently increased quite a bit and how they will develop further remains to be seen.

In addition, not only your income side is decisive, your expenses must also be considered (installment loans, maintenance obligations, health insurance contributions, etc.).

Basically, based on the facts you mentioned, I also tend to a positive assessment of your loan request. However, the decisive factors are those in 2012, at the time of your loan application.

Best regards

M. Thiemann