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Mortgage in German banks: financing for non-residents

INTECO Real Estate > Articles > Taxes and Mortgage > Mortgage in German banks: financing for non-residents
Mortgage in German banks: financing for non-residents
Ипотека в Германии: финансирование для нерезидентов

Foreign buyers, who purchase residential or commercial property in Germany, have the same right as residents and citizens of Germany to obtain a loan from German banks.

German banks are very loyal to non-resident applicants and issue loans on the same favorable terms as for their citizens.

Requirements for the applicant to issue a mortgage loan

  • availability of a valid passport
  • 50% of the amount of the property
  • availability of own funds to pay additional costs for the acquisition of real estate, about 12% of the value of the object (notary services, tax on the purchase of real estate, brokerage commission)
  • confirmation of a constant and stable income, this can be wages, various dividends, savings, rental property income, which are confirmed by the regular receipt of funds in a bank account. Moreover, lender banks use the approximate calculation that the monthly loan repayment amount should be no more than 35% of the applicant’s income per month

It is possible to apply for bank financing not only when buying an apartment or a house in Germany, but also when purchasing a package of several objects, an apartment building or a commercial investment!

Requirements for a property to issue a mortgage loan

  • the minimum cost of the object is from 200,000 euros
  • good condition and location of the property

When applying for residential mortgage lending, banks pay special attention to the location, if it is a new building apartment or a secondary housing. The apartment in a new building with high liquidity is more readily credited.

  • stable and guaranteed profitability of real estate.

When buying an apartment or apartment building, it is important to provide a valid lease as proof of current income.

Terms and conditions of lending

A mortgage loan in Germany is issued for a period of 5 to 20 years, usually with the possibility of early repayment. The loan rate is from 2.5% to 5% per annum and is calculated individually.

Consideration of a loan application and processing a bank loan takes about two weeks.

It is very important to observe the repayment terms, as the loan is secured by the acquired property, and the bank is the owner of the property during the entire loan term. Only after the full payment of the loan amount and interest to the bank, the recipient is entered into the Land Register as a full owner of the property.

Clients, purchasing real estate with INTECO Real Estate company, receive loans at the most recommended German bank on the most favorable conditions!

Full support for obtaining a loan is provided for you. You will receive a favorable credit rate and qualified assistance in preparing documents, accompanying a translator at meetings with the bank and signing a loan agreement. For your convenience, communication with the bank can go through our company.

Mortgage lending will pass for you quickly, without difficulties and with maximum benefit!

Documents required to apply for a mortgage loan

  • copy of passport
  • completed application
  • certificates of legal income and wages
  • 50% of the amount of the value of the object and about 12% of the value of the object to pay additional costs (notary, tax, broker’s services)
  • information about the property (attached by our agency).

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