In this video I will tell you, step by step the complete process of
getting a mortgage in Germany.
We will also see:
– What documents bank requires,
– What information bank needs about you and the apartment,
– And finally tips to improve your mortgage offer
This video is continuation of my previous video , where we discussed the mortgage terms used by the banks in Germany. If you haven’t watched that video yet, pause this video and watch the part 1.
Part 1 (How to get a Mortgage in Germany): 4
If you are interested in understanding the whole process of buying a house in Germany. Check my other video where i have explained every step in detail on how to buy a house in Germany. M
For people who are new to Real Estate, will learn the documents involved in the house buying process. What documents bank requires to give you a house loan? In order to get a mortgage, what things you need to know will be covered in this video.
Below is the list of documents bank will from you to give you a house loan.
– Employed
– 2 or 3 months of salary slips for the current year
– Dec salary slip of previous year
– Lohnstuerbescheid/Einkommenstuerbecheid
– job contract
– Self employed
– balance sheet
– profit and loss statement
– 2 or 3 years of business tax returns
– 2 or 3 years of personal tax returns
– other documents based on business or nature of work
– Insurance contracts (eg: life insurance)
– Proof of nebekosten
– Account statements
– Bauspar konto (optional)
– Any mortgage friendly scheme (optional)
– Personal identification documents
– Passport
– Niederlassung erlaubnis
– Rentenversicherung (retirement account statement)
– Spouse documents
– Increases the mortgage amount
Documents of apartment that bank will check before giving mortgage.
– Expose
– It contains following information
– address
– construction year
– purchase price
– broker’s fee
– images of apartment
– Wohnflchenberechnung
– Grundriss (Floor plan)
– lageplan (location map of the apartment building)
– grundbuchauszug (land register papers)
– Energieauweis (energy efficiency certificate)
– Teilungserklrung (Declaration of division)
– Rent contract (if rented)
Here are some tips to improve your house loan offer.
Tip 1: How to improve your credit offer
Bid banks against each other to give you a better Mortgage offer
Tip 2: Importance of good bank consultant
If you have a good consultant, it immensely helps you in landing a good deal for your home loan. Most of the things are in the hand of your consultant and he/she is first step towards getting a house loan.
If you do not like your consultant, do not hesitate to change him with someone else as you do not want any thing to come in your way of getting a mortgage for your dream house.
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Deutsche Rentenversicherung: ————————————————————–
DISCLAIMER:
I am not a financial or real estate advisor. My videos are for educational purposes only and merely cite my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial or real estate advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Always remember to make smart decisions and do your own research!
