You’ve found your dream home on immobilienscout24.de or another German real estate website, and now you’re willing to find out how you can get a mortgage in Germany, considering that you are a foreigner. This article is here to help, by providing you information about the conditions, the mortgage rates, but also links to mortgage calculators, and mortgage brokers that are specialized in helping international investors, expats, and foreigners in general.
German mortgages: quick tips for foreigners
Germany counts more than 10 million foreigners living on its territory. One natural question for these foreigners is: “should I buy real estate in Germany?”. Well, an important factor here is mortgages. In particular, interest rates.
Mortgages in Germany: how much will a bank finance?
When you buy a house in Germany, mortgage conditions vary, regarding your situation. For example, if you live and work in Germany, you can obtain a loan that will cover up to 100% of the property value (loanlink.de). Also, according to expatica.com, “there are no restrictions on foreigners purchasing German real estate.”
So, can you get a mortgage covering up to 100% of the property value? To determine that, use the following two online mortgage simulators:
While browsing these two mortgage brokers, I’ve enjoyed a lot the fact that loanlink.de specifically mentions that it can serve international investors, EU Citizens, Expats, among other segments.
What are the mortgage interest rates in Germany?
Interest rates in Germany are extremely low. Indeed, mortgage interest rates are comprised between 1% and 2% for a typical 15 to 30 years mortgage. Below, I took a screenshot from the German Mortgage Rates finder of hypofriend.de.
Buying a home in Germany
If your project is to buy a home in Germany, feel free to contact me using the link below. I’ll be happy to help, by providing good contacts of people experienced in helping foreigners purchase a property.