Foreigners can qualify for real estate financing in Germany — not a problem. Most Germans (and some citizens of some European countries) receive a mortgage if they have a ‘clean’ credit story. In Germany, it’s called a Schufa report, named after the credit and loan data repository that all German financial companies review to ascertain the credit and banking history of a mortgage’s applicant.
Our foreign clients do not need to produce a Schufa report, as they are not residents. Our team will work with you and our banking contacts to find the best way to get your mortgage application approved. In some instances, we will ask you to produce a credit report from your home country. Note also that a mortgage in Germany generally covers up to 70% of the property value and is paid over a fixed term of typically 10 years. After the initial maturity runs out, you can refinance with another mortgage at new market rates.
Contact us today to learn more about mortgage financing in Berlin and NRW!