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German Mortgage Affordability Calculator

Employment status:
Job security can be a decisive factor in determining your borrowing power. Borrowers with a permanent job tend to receive more favourable financing offers than individuals who are self-employed or have limited term contract since their income is more stable.
German residency status:
Your residency status has an impact on the maximum loan amount you can borrow from German lenders. You are eligible for more than 100% financing if you live and work in Germany. And if you live and work abroad, you may receive financing of up to 70% to 80% of the property value.
Country of work:
If you work in Germany, more lenders will offer you financing options with more favourable rates. However, there are also lenders who provide mortgages for individuals working abroad.
Monthly net income:
Your net income plays an important role in determining how much loan you can afford. Your monthly mortgage payments cannot exceed 35% of your monthly net income.
€
Down payment:
The initial amount of money paid, outside of the mortgage, to the property’s seller. It lowers the amount of interest paid over the course of the home loan, the monthly repayments and provides lenders with a degree of security.
€
Number of occupants:
The number of occupants may have an effect on your borrowing power since mortgage lender may consider the additional cost of supporting occupants when evaluating the borrower's financial situation.
Property Location:
The property location determines the purchase fees (stamp duty, real estate agent fees, notary and land register fees).
Monthly costs for private health insurance:
Since you will need to pay for your private health insurance from your net income in Germany, this will lower your monthly available mortgage payment.
€
Monthly rate for private loans:
Please state the monthly rate for all your private loans combined, including car loan, student loan, private loan etc.
€
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German Mortgage Affordability Calculator

Find out how much you can afford. Our calculator evaluates your personal and financial set up and scans through the whole market to find you a mortgage that is in your best interest.

You can afford a property for up to:

€793,516

Your required loan amount is
706,998 €.

If the agent fees amount to 7.14% you can afford a property of up to
744,309 €.

Your monthly payment:

The slider indicates the maximum amount you can spend on your monthly mortgage payment based on your income and expense rates set by German banks
1,815 €
feasible
challenging
risky
Improve your affordability:
• You are eligible for a mortagage covering the total purchase price and in addition a personal loan covering the purchase fees. This increases your maximum affordability.
• If you apply with a partner, please make sure both of you have a full residence permit.

We do mortgages differently

Our 24/7 online service offers you in-depth home financing advice, price comparison on the whole market, less hassle and more consideration. We will bring you the best price you need with the reliability you deserve at NO charge.

Jan Joisten
Mortgage expert
Check what our customers say about us:
9.5 out of 10

What happens next?

1. See your options
Get personalized mortgage offers from 400+ banks
2. Get expert support
Speak to an experienced mortgage expert
3. Secure your mortgage
Relax and let us close your mortgage with the lender

German mortgages explained

How does LoanLink24 Affordability Calculator work?

We don’t just build another average calculator; our Affordability Calculator goes the extra mile and takes multiple important factors into account when calculating your borrowing power.

For instance, when assessing your affordability, we have different detailed algorithms for applicants with different employment situations or residential status. What’s more, instead of giving you a rough estimate like other calculators, our advanced system updates regularly in order to give you real-time data provided by 400+ lenders.

All you have to do is to plug in several numbers, then you will get an accurate idea of your maximum affordability and of how much you could borrow for your home loan right away.

Does my residency status affect my borrowing power and affordability?

Yes, your residency status and work location in Germany do impact the maximum loan amount you can borrow from German lenders. And our Affordability Calculator will take your residency status into your account when assessing how much you can borrow.

If you live and work in Germany: financing levels of more than 100% (i.e. 105% – 108%) are available on the market for you to cover additional costs such as construction costs, land transfer tax, notary and brokerage fees. However, 50 to 60% down payment will get you the best interest rates.

If you live and work abroad: up to 70% - 80% of the property value is possible. Therefore, you have to cover the rest of the costs with down payment.

Can I get a pre-approval with the Affordability Calculator?

Yes, but it requires document verification. Getting pre-approved can speed up your home buying process as it helps assure your seller that you can afford to purchase a property up to a defined purchase price. It will also help you stand out from other potential buyers on house viewings.

Even though our smart mortgage calculator can quickly give you an accurate estimate of how much you can borrow, it’s required to verify your financial documents before giving you the mortgage pre-approval.

This is when mortgage experts from LoanLink24 come in - after you have submitted your financial documents, we will carefully evaluate your ability to pay your monthly payment throughout the course of the mortgage as well as the ability to pay the purchase fees and closing costs. We can then give you the mortgage pre-approval with a range of actual mortgage offers from multiple lenders.

Additionally, we can perform property valuation to further ensure that you can afford to buy the property and that the mortgage deal is in your best interest.

What would be my mortgage interest rate?

We understand that providing our customers a ballpark figure is a waste of their time, so we update our mortgage interest rate daily by scanning through the whole market. Yet, the eventual rate offered by the lender is influenced by a series of external factors. Moreover, mortgage rates vary from bank to bank since lenders calculate risks differently and the amount they are willing to lend vary from one bank to another. This is why a more detailed assessment with a mortgage expert is absolutely necessary.

The most important factors that influence how banks determine mortgage interest rate can be boiled down to three categories: financing, borrower’s circumstances, and capital markets conditions. Firstly, the rate usually is usually calculated based on the risk that borrowers might not repay the loan. Therefore, if the down payment is low which requires a higher loan amount and longer loan term, the rate will likely be higher. Secondly, your income, credit history, age and marital status also partly influence your mortgage rate. Lastly, market performance also plays a role in influencing the interest rate, since it affects the demand for loans.

Negotiating the best interest rate is important because even a small difference in your interest rate can affect the cost of your home loan by several thousands of dollars. But given the complexity of how the rate is determined, it’s best to discuss with a mortgage advisor in order to secure the best rate that fits your personal circumstances. Most of our customers receive an in-depth recommendation within 24 hours.

How long does a mortgage application take?

Since every situation is completely unique, the time it takes to secure a mortgage varies from person to person. Generally, it will take between 3 days to 4 weeks from starting the application process to receiving the actual mortgage confirmation, provided that your application process goes smoothly. The actual time it takes depends on your lender and your specific situation. If you need a mortgage in the shortest time possible, our mortgage advisors will take that into account when they choose a lender for you.

Are there any government fundings available for homebuyers?

The German government indeed offers various funding programs to support homebuyers, most prominently, Kreditanstalt für Wiederaufbau (KfW) offers a range of low interest support programs to help people buy, build or renovate a home. For more information, you may check out this blog foran overview of the KfW funding products.

First-time buyers with children are eligible for a grant of €12,000 per child via a federal government initiative called Baukindergeld. To qualify, the income for families with one child needs to be below €75,000. The applicant income scale increases by €15,000 per child. This subsidy covers children under the age of 18 at the rate of €1,200 per year for 10 years. It does not need to be repaid.

Building society loan (Bausparvertrag) is a home saving contract where participants of the program first pay into a common pool of money in a building society (Bausparkasse), which is a certain percentage of the required loan. Then the payments are given to people who already have a loan claim. Participants benefit from low and secure interest rate and guaranteed constant monthly installments.

At LoanLink24, our mortgage experts have supported a number of homebuyers to receive fundings from multiple government sponsored funding programs. Speak with your dedicated mortgage expert then we can tailor the mortgage to suit your personal and financial circumstances – and you can start planning how to decorate your new home!

Want to learn how tailored financing options look like?

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