You have questions?
Below, you will find answers to frequently asked questions we get. If you have any further concerns or questions, don't hesitate to get in touch with us.
Below, you will find answers to frequently asked questions we get. If you have any further concerns or questions, don't hesitate to get in touch with us.
1: Check how much you can afford: Answer some basic questions and get an idea on how your mortgage may look like – it only takes 3 minutes. Our algorithm compares your data with the requirements of more than 500 partner banks.
2: Tell us more about yourself: German banks require in-depth information on the property and your financial situation. This should not take longer than 40 minutes and you can complete it 24/7. And the best: All relevant documents are in English!
3: Chat with a mortgage expert: Our mortgage experts guide you through the German mortgage process, explain requirements and recommend the most suitable option out of more than 500 banks. You can also call or text us anytime!
4: Secure your mortgage: Relax while we negotiate and close your mortgage with the lender, keeping you informed every step of the way. All free of charge.
The German mortgage market varies significantly from other countries. Starting from the bank’s due diligence up to the mortgage products itself.
Due diligence:
German lenders assess not only the value of your assets. Your personal and financial situation is just as important as the property’s evaluation. So be ready to answer some in-depth questions regarding your personal, income, equity, and liabilities situation. A professional broker as Baufi24 knows all questions and helps you to get everything set up in a lean and efficient way.
Mortgage products:
Interest rates are typically fixed for 5 up to 30 years. Among others, the most common kind of mortgages is the Annuity Loan (in German "Annuitätendarlehen") with capital & interest repayments and interest only loans.
The repayment of your loan is very flexible. Every year you can decide again what percentage of the loan should be repaid on a scale from 1-10%. In addition, you have the option of paying an extra amount of up to 5% of the loan annually.
Here again: We assist our clients to evaluate their financial setup and recommend the best product types based on every single case – no dependency on any certain product or lender.
To obtain a mortgage approval from a German credit institution, you are required to provide a full set of documentation verifying your financial and personal life. The most important documents are: