German Mortgages Explained
How do I qualify for a mortgage in Germany?
After reviewing how much house you can afford and how much house makes sense, you can continue to check if you qualify online. As described, lenders will primarily look at your income and creditworthiness, and the property you intend to buy. To understand your creditworthiness, besides a credit check, they will look at your employment status. In general, you need to have been employed for at least 3-months and out of probation. If you are a freelancer, you will need to have had your job for at least three years. Finally, your nationality matters but not as much your bank accounts. The lender will want to see your monthly statements to gauge your income/expenses. You are more likely to get qualified if you have a bank account in Germany with regular and stable monthly payments. Finally, lenders will consider your age to determine when you retire, as this plays a factor in your monthly income over time