German Mortgage

How Long Does a Mortgage Loan Application Take?

There are many reasons for buying a property and taking on a mortgage loan. Properties are some of the best investment objects, and of course buying a property to live in is always a better financial decision than renting one. The problem most people have is that they don’t have mountains of cash lying around to just go out and buy their dream property. That’s where a mortgage loan comes in. We’ve already covered the basics of securing a mortgage loan in other posts, but today we want to focus on the following question:
How long does a mortgage loan application take? To answer this question, we’ll look at the steps involved in securing the mortgage and how long each of them takes. On top of that, we’ll give you some tips on how you can speed up the process.

01 Using a mortgage loan calculator

Before you can apply for the mortgage, you first have to figure out how much house you can afford. To determine the maximum loan amount that you could receive from the lender, there are various mortgage calculator on the internet where you can get a rough estimation. You simply need to several question and then the calculator would tell you roughly how much money you can expect to borrow.

This process only takes a few minutes, and, even better, it is completely anonymous, so it doesn’t affect your credit history one bit.

02 Obtaining a mortgage pre-approval

Once you’ve determined your maximum loan amount, you can start searching for a property. After you have a shortlist of suitable properties, you can obtain a mortgage pre-approval certificate (mortgage in principle). This is basically an assurance from a lender that they would be willing to lend you a specific amount of money provided the information you gave them is true.

Because you have to submit all your information to a prospective lender, the mortgage pre-approval will help you establish whether the maximum loan amount determined by the loan calculator is actually feasible. It also makes you much more attractive to the owners of your desired properties. Given how competitive real estate market can be in most major German cities, obtaining a mortgage pre-approval before you start shopping for a home will certainly help you stand out among other homebuyers who are interested in buying the same property.

Obtaining a mortgage pre-approval will only take a few hours of your time and can save you additional time down the road.

03 Applying for the actual mortgage

While the application process itself might only take a few hours, receiving the actual confirmation for your mortgage loan will usually take up to a few weeks. The actual time it takes depends largely on your German mortgage lender and on your specific situation. If there are any complications during the processing of your mortgage loan application, then the process will obviously take longer.

One major time saver here is having a mortgage in principle by the same lender you are submitting the actual mortgage loan application to. Since this lender already has all your relevant information, the process should take a lot less time.

The bottom line

So as we can see, it will take a few weeks for you to receive the confirmation for your mortgage loan. You can speed up the process by following the steps above, especially by obtaining the mortgage pre-approval certificate before looking for your desired properties.

Obviously, once they have found their dream property, most buyers are looking to get the process of obtaining their mortgage loan over with as fast as possible. In order to avoid purchases of properties on the spot, the law requires that any property purchases are done through a notary. However, if an independent mortgage broker takes care of the further organisation of the purchase, then they can send all the required information to the notary and often enable you to receive a notary appointment on short notice.

LoanLink recommends only finalizing the purchase contract after you receive the final confirmation for the mortgage loan by the bank. The decision over the financing can only be made once all the documents such as information about the property, your income and your ongoing expenses, are available. Our mortgage advisers will prepare all the required documents for the mortgage loan application and will submit the application to the bank who will evaluate it and make a decision. This approach will avoid possible problems and delays during the processing of your loan application.

If all the documents have been sent to the bank, it can process the loan application relatively quickly and ideally send you the confirmation. When using LoanLink, you will often know after a few days whether the bank will approve your mortgage loan or not. In most cases, clients receive their loan confirmations within one week – although it might take longer in special cases.

And if you’re in urgent need of a mortgage, our mortgage advisors will take that into account when choosing the right mortgage offer for you from our 400+ German mortgage lenders.

Our LoanLink mortgage advisors are happy to answer any questions. Our goal is to help you find the best loan.

We are happy to answer any questions. Via email at or by phone 0800 05 28000. You can also start with the LoanLink mortgage illustrator here:

Got a question about the real estate valuation or home purchase process for non-German resident in Germany? Contact us!

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