Beratung

You need mortgage in Germany?

1. How does a german mortgage work?

In Germany a mortgage is typically used for purchasing a property. It involves borrowing a specific amount from a bank or financial institution, which is then paid back over an agreed period.

The financing institution will basically do two assessments:

• Personal and financial situation: e.g. type of employment, income, equity, liabilities, pension

• Object evaluation: e.g. location, size, condition, age, comparable sales

Main features of a german mortgage are:

• Interest rates can be fixed for a certain period, typically 5 to 30 years.

• Down payment often around 10% to 20% of the property’s value.

• Repayment and extra payments (typically 5%) possible.

I will assist you in preparing the personal assessment and provide a basic object evaluation. Based on your personal situation we develop your best mortgage solution.

My service is free of charge and I get paid directly by the bank or financial institution.

2. What is the way to get a mortgage in Germany?

There are three major steps to get a mortgage in Germany:

1. Define your options

A very important question is: How much you can afford? During my basic advice we work out the highest possible budget for your real estate project. Therefore I need basically three information:

1. Your monthly rate

2. Your income

3. Your downpayment

2. Find your real estate

As soon as you find a suitable real estate, I help you in evaluate the market price. Based on a property value and market analysis we decide, whether the purchase price is in line with the market. I will issue you with a financing confirmation for the viewing so that the seller or the broker has a certain level of security. 

3. Realize your optimal mortgage solution

For your optimal mortgage solution I can compare the complete german mortgage market and get personalized offers from 600+ lenders. In a final step we put together all documents, apply for the financing and get the confirmation of the lender.

In every single step I will help you to realize your mortgage in Germany!

3. What documents do I need to get a mortgage?

To approve a mortgage by german lenders, you are required to provide a full set of documentation verifying your financial situation and details to the real estate. I will support you step by step to get the full set of documents. There are three major categories:

• Application documents (e.g. self-disclosure, residence permit)

• Credit record (e.g. Income, equity, pension, credit obligations)

• Property documents (e.g. building descriptions, drawings, purchase contract)

You can submit all documents online, e.g. by Upload-Link. I try to keep it very simple for you and can organize some documents (land register extract) quick and easy. Over the years I created various templates (e.g. equity) which I can provide to you. 

I’m happy to help you!