As of July 2020, what is the mortgage interest rate in Germany to buy a house case by case and what is the best conditions for it?

Germany mortgage interest rate, Let's see how high it is....

 

Hello.

 

In this post, for those of you who are not familiar with German, I would like to give examples of mortage interate rate in Germany under various conditions for borrowing money to buy a house in Germany as of July 2020 (germany mortgage interest rate).

 

And with this examples, I do expect that we will find out the best conditions for mortgage interate rate in Germany to buy a house (germany mortgage interest rate).

 

If you are as well interested in Germany income tax rate, simply click below.

2020/07/23 - [독일 생활 정보] - Germany income tax! 32 %? 40 %?, Monthly income in Germany?

Germany income tax ! 32 % ? 40 %?, Monthly income in Germany ?

However, please aware that the mortgage interest rates for each condition listed below have been generalized and may vary depending on the conditions of the person receiving the loan.

 

 

	Case 1	Case 2	Case 3	Case 4
House purchase price (Tax and additional expenses included)	400,000 euro	400,000 euro	400,000 euro	400,000 euro
Loan amount	350,000 euro	350,000 euro	350,000 euro	300,000 euro
Loan repayment period	10 years	15 years	20 years	10 years
Principal repayment rate	2%	2%	2%	2%
Mortgage interest rate	0.81%	1.09%	1.36%	0.65%
Monthly repayment amount (Interest rate + principal payment)	820 euro	900 euro	980 euro	660 euro

	Case 5	Case 6	Case 7	Case 8
House purchase price (Tax and additional expenses included)	400,000 euro	400,000 euro	400,000 euro	400,000 euro
Loan amount	350,000 euro	300,000 euro	300,000 euro	300,000 euro
Loan repayment period	10 years	10 years	10 years	10 years
Principal repayment rate	3%	3%	4%	3%
Mortgage interest rate	0.81%	0.58%	0.57%	0.86%
Monthly repayment amount (Interest rate + principal payment)	1,110 euro	895 euro	1,140 euro	965 euro

 

As shown in the analysis table for each loan condition above, the lower the proportion of the loan amount to the purchase price of the house, the lower the mortgage interest rate in Germany, and in this case only, the decrease in the mortgage interest rate due to the increase in the principal repayment rate is returned.

Therefore, securing the capital of more than 20% of the purchase price of the house and increasing the principal repayment rate as much as possible considering your monthly salary and living expenses is the best way to find the optimal loan conditions.

 

 

Are you looking for a company to move to Germany? Here is a site where you can find jobs in Germany.

2020/05/23 - [독일 생활 정보] - Job site in Germany Top 5, Job finding in Germany

Job site in Germany Top 5, Job finding in Germany

 

Are you interested in the salary level in German?

Are you curious how much money is suitable to get monthly or yearlay compared to your working experience?

If yes, please check this out. It would be helpful for you.

2020/05/23 - [독일 생활 정보] - Is a 80,000 euro good salary in Germany for my career? Average Salary in Germany, Cost of Living

Is a 80,000 euro good salary in Germany for my career? Average Salary in Germany, Cost of Living

 

Or are you interested in house rental price or buying price in Germany? Check this out now!

2020/05/23 - [독일 생활 정보] - House Rental Price in Germany or Buy a house in Germany (2020.05)

House Rental Price in Germany or Buy a house in Germany (2020.05)