The search for a suitable loan must start over
Depending on the income of the borrower, we have the right loan for every need. or simply do not meet the credit obligations (eg payment of the loan installment or interest). such as account and salary statements as well as the customer’s credit bureau file. Housing needs have increased, but household incomes have remained the same.
Construction costs are essential if at least half the cost of an equivalent new building is obtained. In the case of owner-occupied home ownership, construction loans are granted if at least four apartments are built in the house. The claim to an application is that: a suitable building land is available or evidence is provided that the purchase of such land is or will be ensured, the builder makes an appropriate own contribution.
The own contribution makes sense if it amounts to at least 15 percentage points of the total costs. If a leasehold was created for the property or if it is to be created, the duration of the leasehold authorization must exceed the stipulated loan period by at least 10 years. This corresponds to 20 v. H. of the approved construction loan for a commitment period of 20 years and 25% H. for a commitment period of 25 years.
The amount of the basic loan depends on the locally varying ground costs: land value per m of land including development costs and processing costs below 200 USD = 600 USD, from 200 to under 250 USD = 700 USD, from 250 to under 300 USD = 800 USD, from 300 to less than 350 USD = 900 USD, from 350 to less than 400 USD = 1000 USD, from 400 to less than 450 USD = 1.100 USD, from 450 to less than 500 USD = 1.200 USD and more than 500 = 1.300 USD.
In the creation of a wheelchair accessible apartment, the loan will be increased by 150 USD, in a barrier-free apartment by 50 USD and in a passive house by 150 USD per m 2 of selectable floor space. The construction loan will be paid out in the following amount, subject to adequate security: the remaining 10 percentage points of the loan amount after completion, including exterior plasters and external facilities.
The rental price (excluding operating costs) is limited to the local comparative lease in the sense of 558 BGB minus 15 percentage points. Permitted is the simultaneous use of funds from the conservation of monuments, the urban development programs, the village renewal program and the state program “Energy efficiency in rental housing”. Likewise, the parallel use of loans from KfW is possible.