How to buy property in Germany

Buying property in Germany can be complex and exhausting.

However, having some basic knowledge will help you to stay informed and manage the whole German property buying process with ease.

Your personal advisor will discuss the project with you step by step, give you valuable advice and tips and, of course, inform you about alternative financing options, such as KfW funds.

As soon as the financing structure is in place, we select the best and at the same time most cost-effective financing partner for you and your needs.

The financing inquiry is guaranteed free of charge and without obligation. Your personal information will only be available to your contact person at LoanLink24 and will not be passed on for advertising purposes.

Get free mortgage advice
Home Loan Advisor
Leave the paperwork to us. We will find the best deal for you.
  • Find out how much you can afford

    First, find out how much you can borrow and afford. The LoanLink24 affordability calculator will show you the maximum loan amount that a bank can lend you for your apartment or house in Germany. German banks calculate your borrowing power based on your residency status, employment situation, down payment amount, monthly net income and the property location.

    Check out the mortgage affordability calculator
  • Open a German bank account

    If you don’t have a German bank account yet, we can support you with opening one remotely with our partner Deutsche Bank. There are also other options like N26 if you have a German or European address.

    Request to open a bank account
  • Get pre-approved

    The LoanLink24 pre-approval certificate helps assure your seller that you can afford to buy property in Germany up to a defined purchase price. Given that the German real estate market can be very competitive, such as Berlin and Munich, getting a pre-approval will help you stand out from other potential buyers on house viewings. It only takes 10 minutes to get preapproved with LoanLink24.

    Request pre-approval
  • Identify a house or apartment

    Once you know how much you can afford, you can start looking for a house or flat in Germany, negotiate the purchase price, place a reservation on the property and let us collect the property documents for you. We’ve also partnered up with multiple property listing pages and real estate agents. If you’re specifically looking for a new built property, you can start your German property search with neubau kompass. Let us know what you’re looking for and we can provide you with listings. We can also run a real estate valuation report for free if you’d like to confirm the property price.

    Find a property in Germany
  • Get mortgage advice on different financing offers

    Our advanced technology compares financing options from more than 400 German banks and will run an affordability check instantly and suggest three personalized options. Our certified mortgage experts will explain each offer thoroughly and answer all of your questions. You will learn about mortgage interest rates, closing costs, monthly instalments, government funding programs, such as KfW Bank and special features like unscheduled payments.

    See your financing options
  • Apply for German home financing

    Once you have selected a financing offer, the bank will require you to submit mortgage documents for your application: This includes e.g. a copy of your ID, the last 3 salary slips or the property exposé. After you have submitted all documents to LoanLink24, we will create the financing application. Next, you need to sign the application in order to allow the bank to run the Schufa credit check and allow us to communicate with the lender on your behalf.

    Check out the German mortgage document checklist
  • Financing approval

    The approval is a binding document which certifies that your lender will support you with the funding. It usually takes 2-15 days for the lender to perform the final credit assessment and issue the approval and financing contract. We will inform you immediately once the financing has been approved.

  • Notary appointment

    Once the financing is secured, and you and the seller have finalized the purchasing details, you both will need to meet with a notary and sign the purchasing contract to finalize the German real estate buying process. It’s important that you have received the mortgage approval before signing the contract! You should also bring the land charge order document (Grundschuldbestellungsunterlagen) to this appointment as the notary will initiate the title registration.

  • Sign the financing contract

    It is important to sign the contract before the offer expires. (It takes 1-4 weeks, depending on the bank.)

    Signing financial contracts in Germany

    By law, there is a 14-day withdrawal period on all financing contract in Germany at no costs. This period is used to finalize the property purchase, which becomes legally binding when signing the purchase contract at the mandatory notary.

  • Payment order

    We will provide you with a list of additional information required by the bank before they pay out the loan for your home in Germany:

    - Copy of the notarized sales contract

    - Unnotarized excerpt from the title register which signifies the registration of the appropriate ranking

    - SEPA direct debit mandate which allows the bank to withdraw the monthly repayment from your account

  • Payment of loan

    Once the bank has received all required payment order documents, it will pay out the loan to the account which you defined in the payment order. If the property is still under construction, the payments will be delivered based on the construction progress.

  • Ongoing costs of owning a home in Germany

    Ongoing costs include your utility consumption, need to renovation, mortgage payment, home insurance, property management service and government taxes.

    These hidden costs of owning a flat in Germany can add up quickly and can be complex to understand. It’s important to make the need for an adequate amount of money to cover these monthly and yearly costs.

    Learn more about the hidden costs of home ownership