# Buying real estate, how to get a German bank mortgage



## E_S (Nov 1, 2013)

Hello,

I'm thinking of buying an apartment in Germany. Not a big problem at all, really, but there is one "snatch". My employer is based in my homecountry (Norway) and I live in Germany, so my income comes into my account in Norway.

The thing is - getting a mortgage in a German bank when your income isn't Germany-based seems to be a little challenging. Due to currency fluctuations getting the mortgage in Norway isn't a very good idea, as it could be a little unpredictable.

Any ideas for a bank that might be "friendly" in this regard? We're talking a quite normal apartment, no luxury/high price class thing..


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## E_S (Nov 1, 2013)

And just to mention: Visa, work permit etc. is not needed for me as a Norwegian citizen. I have the same rights to live/work/whatever permanently as a German citizen.


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## ALKB (Jan 20, 2012)

E_S said:


> Hello,
> 
> I'm thinking of buying an apartment in Germany. Not a big problem at all, really, but there is one "snatch". My employer is based in my homecountry (Norway) and I live in Germany, so my income comes into my account in Norway.
> 
> ...


How long have you been living in Germany?

Do you have a sufficient deposit (Eigenkapital)? Often, about 30% are required.

The Bausparkassen seem to be rather friendly but that might stem from the long term relationships they build with most of their clients before it gets to financing.


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## E_S (Nov 1, 2013)

Since 2008, so it's been quite a few years. 

I have more than the 30%, so that's no problem. I'll check the Bausparkasse, I've heard the same. When I think about it, I've had an account in the Sparkasse for 8 years as well..


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## beppi (Jun 10, 2013)

Ask around at several banks!
Your situation, from the point of view of a bank, just means their risk is higher and the legal procedure to recover any money from you is more complicated.
This does not mean a mortgage is impossible, but you will have to pay a higher interest rate (just like, e.g., self-employed with uncertain income, who also get mortgages only at higher rates in Germany).


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