A fixation period which is too short could cause you financial hardship if interest rates go up significantly in the future. However, too long a fixation period could result in high costs, inflexibility, or exorbitant cancellation fees if you move on early. Hypofriend’s Optimization Engine will recommend the optimal fixed interest period for your situation.
German Mortgage Calculator
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Our mortgage calculator helps you to find the ideal mortgage for your dream property. First, enter the purchase price of your dream property and details of your savings (equity), monthly payment, and fixed interest period in the input fields in the first line. Equity refers to financial resources of any kind, such as cash or securities, which you can contribute directly. The monthly payment is the amount you want to pay each month to repay your financing. The fixed interest period determines how long the current conditions of your financing remain unchanged.
In order to offer you the most reliable calculation possible, in the second line we ask for the location (federal state, to determine the property tax rates) and the real estate commission (relevant to the total amount of additional purchase costs). The interest rate is determined by us. It is calculated based on the duration of the fixed interest period and the amount of your mortgage loan. This means: that the longer the fixed interest period, the higher the interest rate! The positive effect: longer interest periods provide more planning security.
By clicking on the "Calculate" button, you will receive your individual evaluation including the expected loan amount, the interest rate,, and the monthly payment rate. Please note that the loan amount is not the same as the total purchase costs. The additional purchase costs must also be taken into account. You can obtain detailed information by clicking on the (i)-icon next to the corresponding input field (as for all other entries).
You can also click on the "Request offer" button and answer a few questions about your personal situation (including your citizenship, the usage of your desired property, and your current work situation) in order to receive an individual financing offer that meets your expectations and conditions - free of charge and without any commitment! You can simply have this sent to you by e-mail. You also have the option of arranging a personal consultation, which is also free and non-binding.
We use our unique Hypofriend recommendation software to find the best mortgage for you. It is based on the experience of our co-founder Dr. Chris Mulder, who worked at the IMF and the World Bank. There he developed models to help countries manage their debt. Our software combines these modern financial theories with the practical experience of our mortgage advisors. We keep our recommendation software up to date and regularly review the financing products available, sifting through over 750 lenders and their terms on a daily basis. We model and estimate their hidden costs, among other things. This means we know exactly what financing products are out there and can feed this knowledge into our recommendation software.
By combining this know-how with the information you provide (e.g. your income) and projected values (e.g. your salary outlook), we generate different scenarios and results. This allows us to show you how you will get on under different conditions. To better assess your options, you can also try out the affordability calculator.
In addition to the scientifically based operating principles and solid expertise on which our mortgage calculator is based, you benefit from quick and easy sample calculations that give you an initial overview of the expected costs and charges. Our mortgage calculator also calculates the additional purchase costs associated with mortgage financing and the monthly costs you will incur within seconds. You can also calculate the term of your financing and the interest rate with just a few clicks.
We provide you with our mortgage calculator free of charge, no matter how many scenarios you want to run through. Registration is not necessary. We recommend that you try out several variants to get a better feel for your ideal mortgage! Simply adjust individual parameters, such as the property price or the monthly payment. If you're still not sure whether buying or renting is right for you, you can use our rent-or-buy-calculator.
With our mortgage calculator, you can easily calculate your individual mortgage. But there are a few things to bear in mind: We are happy to explain the most important aspects that you should consider. For example, it is advisable to plan your mortgage so that you have paid it off by the time you retire so that you can enjoy a financially carefree retirement. Also, take into account that you will have to pay the additional purchase costs of the mortgage by yourself: they are usually not covered by the loan amount. However, it is possible to take out a separate personal loan for this purpose.
Furthermore, the monthly payment (EMI) should be calculated realistically so that you can service it easily without having to compromise your usual standard of living. Your monthly loan repayment should be adjusted to the difference between your income and your expenses. Also think about a safety deposit, which you should ideally always have to hand. This will allow you to calculate the approximate monthly financing potential available to you for your mortgage.
The results of our mortgage calculator are realistic sample calculations. They do not constitute a financing offer or a financing confirmation. We need to know your personal financial situation in detail so that we can find the best mortgage for you. Our mortgage calculator is intended as a first step in the search for suitable mortgage financing so that you are aware of your financial options. In the next step, our mortgage advisors will discuss your financing options with you in a free, non-binding online consultation based on your situation, wishes, and needs.
Yes, our mortgage calculator provides you with a list of all additional purchase costs. These are sometimes underestimated, so it is all the more important that you can calculate their amount in advance of your mortgage. The additional purchase costs cannot be fixed in general terms. They are made up of the real estate commission, property transfer tax, land registry, and notary fees. While notary fees generally amount to a maximum of 2% of the purchase price in each federal state, real estate commission and land transfer tax vary depending on the German federal state.
There are three main decisions you need to make for your mortgage. The first is the length of the fixed interest rate period, then how quickly you will repay your mortgage loan, and finally how much equity you want to invest:
Fixed interest rate period: To understand how the fixed interest rate is chosen and what it is all about, we should first look at the basic terms. Mortgage interest rates determine how high your mortgage will be in the end. You can think of it as a kind of fee that you pay to the bank for providing your mortgage loan. The duration of the fixed interest rate period determines how long the conditions for your mortgage loan may not be changed by you or your bank. Interest rate fixing is possible at 5-year intervals and can cover periods of 5 to 30 years.
Repayment period: The previous explanations make it clear that the faster you repay your mortgage loan, the lower the total financing costs will be, partly because the remaining debt will also be lower. On the other hand, the slower you repay your loan, the higher your financing costs will be. How quickly you repay your loan depends on the amount of your monthly payment (EMI) and any additional repayments you make (so-called Sondertilgung.
Equity and down payment: The more equity or savings you contribute, the lower your loan-to-value ratio and therefore the lower the interest rate at which the bank will grant you your mortgage. The loan-to-value (LTV) ratio describes how high the proportion of equity is in relation to the loaned capital. It is calculated by dividing the loaned capital by the property value and multiplying it by 100. The lower the calculated loan-to-value ratio, the less risky a bank considers your mortgage loan to be. This can have a positive influence on the interest rate.
Banks usually lower the interest rate by 5% steps of the loan-to-value ratio. In other words: a higher down payment means a lower loan-to-value ratio and a lower interest rate and, vice versa, a lower down payment means a higher interest rate due to a higher loan-to-value ratio.
As a rule, it is necessary that your savings cover the additional purchase costs incurred. Depending on the federal state, this is between 9% and 12% of the purchase price of the property. The amount of equity required cannot therefore be determined in general terms.
Under certain conditions, it is possible to finance a property without equity (100% financing). These include, for example, a very good credit rating, a very high income, and an excellent location for the property. However, the bank will charge significantly higher interest rates. In rare cases, the bank may also provide financing for additional costs (110 percent financing), usually in the form of a personal loan, as mentioned above. If you want to know what your budget is, you can read more about how much house you can afford here.
It is important to understand how the loan amount is determined. The purchase price is not the same as the loan amount. This is because equity is usually contributed to the mortgage, and this varies from case to case. The loan amount is the amount you borrow from the bank to buy the property, regardless of your own savings.
This German mortgage calculator is designed to help you determine the estimated amount you can get from over 750 mortgage lenders in Germany. However, German banks have different guidelines when it comes to rating the creditworthiness of applicants for a mortgage. For us to find the best mortgage for you, we need more information about you, your financial situation, and your future plans. With this information, our financing experts can explain your possible options in detail and provide a free personalized mortgage recommendation. Book your free consultation.
The annuity mortgage is by far the most popular form of mortgage loan and deserves special attention. Simply formulated: An annuity is a loan with a monthly repayment (EMI) that is always the same amount. In other words, you pay the same sum every month - for the duration of your fixed interest rate.
The annuity payment consists of both interest and repayment rates. The combination of interest and repayment rates differs slightly each month. This is because each repayment reduces the remaining debt. With a constant interest rate and decreasing remaining debt, the proportion of interest in the repayments decreases from month to month, while the proportion of repayments increases slightly from month to month. However, your monthly payment remains constant. This continues until, by the end of the loan, the repayment makes up almost 100 % of the monthly annuity. In other words, your savings ratio (the repayment of the remaining debt) increases month by month, year by year. This is what makes this form of construction financing so popular.
At this point, let us explain how the monthly payment is calculated. It is determined by adding the interest rate to the repayment rate and applying the result to the loan amount using the percentage method. The annual amount is then calculated (also known as the annuity) and divided by 12 months. The result is your monthly payment rate. We have already explained what the interest rate is (it is calculated automatically in the Hypofriend mortgage calculator). But what is the repayment rate? Repayment generally means paying off the mortgage loan you have taken out. The repayment rate is the proportion of your loan amount that you pay back to the bank each year. On average, the starting repayment rate is 3% and is paid in several payments (repayment rates).
The following is also important: the interest rate is recalculated monthly based on the remaining debt. This means that the faster you repay your loan, the lower your total financing costs will be (because the lower the remaining debt and the interest rate). However, you should also bear in mind that a higher repayment rate will result in a higher monthly payment, i.e. a higher monthly financial cost. You should therefore be careful not to go as far as your financial limits. If you want to pay off the remaining debt more quickly (because you have received an inheritance, for example), you have the option of making an unscheduled repayment (Sondertilgung).
Sondertilgung means making extra payments, regardless of your monthly payments (unscheduled, in other words). This gives you the opportunity to reduce your remaining debt or repay your mortgage loan more quickly (and therefore spend less money on interest rates and on financing). As a rule, several unscheduled repayments are also possible within one financing agreement: most banks allow an unscheduled repayment of 5% to a maximum of 10% of the loan amount (per year).
Additional purchase costs generally include the following expenses:
Property transfer tax: This is payable on every property purchase and must be paid immediately after the contract is signed. Depending on the federal state, it amounts to between 3.5% and 6.5% of the purchase price. The national average is 5.44%.
Notary fees (and, when buying a house, the land register costs for entry in the land register): The expenses for the notary and land registry amount to around 2% of the loan sum.
Real estate commission (optional): Whether and how high the commission for estate agents differs from state to state as well. The differences relate not only to the amount of these expenses but also to whether the property buyer or seller should pay them. A maximum of 3.57 % of the purchase price is charged for the real estate commission. By the way: The real estate commission is generally waived for new-build properties.
You have to pay the interest rate every month (together with your monthly payment). It is a percentage of the remaining debt. Don't worry: we'll explain what this means right away! Quite simply, the remaining debt can be understood as the amount you still owe the bank as part of your mortgage loan. Strictly speaking, the remaining debt refers to the remaining amount you have to pay back to the bank after the fixed interest period for your loan has expired. It is therefore important that you understand what is meant by a fixed interest rate.
In addition, a short fixed interest rate (with a lower interest rate) can mean that your remaining debt is higher and you will ultimately need higher refinancing. Refinancing is a new loan, so it follows onto the existing financing. You need the refinancing to pay off the remaining debt. Also, keep an eye on the general development of mortgage interest rates. If they tend to be low but are on the rise, it is more worthwhile taking out long-term financing in order to benefit from a relatively low borrowing rate for longer. If the borrowing rates are rather high, but the trend is downwards, a shorter fixed interest rate is advisable so that you can secure low mortgage rates for the refinancing. So think carefully about which option is best for you and seek advice from an expert.
Note: The longer the fixed interest period, the lower the remaining debt and the interest rate!
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