We are about to buy a flat in the suburbs of ZH. Here are the numbers:
Flat has a size of 4.5 and approx 120sqm
Age: New will be built within the next 3 years
Location: Very good location with partially lake and mountain-view
Price: 1’660’000 incl. a parkingplace
People: 3 (Ms. Balaclava, our kid and I)
Age: early thirties
Income combined: 200k p.A.
Savings (combined mr and ms Balaclava):
2nd Pillar: 140k
Bank Account: 60k
Depot 420k mostly VT
I know its a crazy amount for a flat without a helipad, but it checks all the boxes we want and the location is very good, so we decided to go for it.
Now to the questions:
Our plan is to pay 15% while taking out the cash of the 2nd and 3rd pillar, get a 10y mortage and amortize indirectly over 3a again. Is this a realistic scenario?
What mortage-rates can we expect?
Which banks are open to only 10-15% of downpayment?
Is it a whise decision to empty 2nd and 3rd pillar? we think its right since its reduces the opportunity cost compared to selling VT.
How much down must the mortage be if we want to FIRE with lets say 2 MCHF in NW? Will the banks still play the game if the income drops substantially to 80k p.A. ?
What are the questions I should ask but didn’t :-)?
Since I try to contribute here as good as I can, I really hope that some of you with deep expertise in mortages are open to take the time to answer my questions.