What is a credit loan and how do I know if I am eligible to use one?

One of our partner banks, offers a credit loan for German citizens, and for European and Permanent residents of up to 60.000 euro, provided they reside in Germany. Qualification criteria include having a disposable income that covers the monthly rate and (with a few exceptions) permanent job contracts.

With an interest rate of about 5.5%, we recommend only using a credit loan to cover the purchase fees if borrowing from friends and family is not an option, and to pay off such a loan relatively quickly.

Using such a loan can be worthwhile, despite the high rate, if your income is ample, your rent is high or if house prices are increasing (rapidly).

See what I can afford with and with and without credit loan.

The credit loan can be paid back in full with a small [1%] pre-payment penalty and has a maximum repayment period of 15 years. We recommend fixing the interest period for 10 years as it only marginally increases the rate. One of our experts can discuss this option with you.

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Use Hypofriend's affordability calculator to see what you can afford based on your personal situation.

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