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Finance Your Berlin Germany Investment Property
We offer numerous Berlin property homes for sale as investment opportunities and guide our clients through the entire German real estate purchase process. Finding a mortgage in Germany couldn’t be simpler with IMOINVEST on your side. We make it easy to find financing for foreigners buying Berlin Germany Investment Property to find German real estate financing through our numerous established affiliates. There are a lot of property homes for sale and to obtain financing, banks require standard documents needed for loan, and depositing your rental income from the property into a bank account from the same institution that you obtain the mortgage loan makes for a hands-free approach to making your mortgage payments.
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Financing Your Berlin Germany Investment Property can be done either with mortgage banks or with any usual bank or financing institute. Financing of up to 70% can be granted on selected properties. Financing for the purchase of groups of properties under 80,000 euros (for example, two flats for 35,000 each) can be extremely difficult to find. With that in mind, the more expensive the property homes for sale, the easier it is to finance.
To finance Your Berlin Germany Investment Property if you are not resident in Germany and not earning money in Germany is possible under certain circumstances but cannot be expected to exceed 60% of the buying price.
The possibility to finance Your Berlin Germany Investment Property should be secured before any contract of purchase is signed. Sometimes one can sign a reservation which holds good for an agreed-upon period of time, enough time to get the financing secured. However, the only binding document for real estate investing in Germany is the purchase deed.
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Documents Needed for Loan
In order to obtain financing for your Berlin Germany Investment Property, all financial institutions require specific information about you and your financial background in order to determine answers to the following questions:
Who are You?
- Two proofs of identification certified at German Consulate or at a bank agency (passport, driving licence, etc.
- Two proofs of your home address (electricity bill, phone bill, etc.)
- Completed loan application (sent by us)
- Completed insurance form (sent by us)
What is Your Financial Situation?
- Original Recommendation letter from your bank
- Income tax papers from last three years
- Last three months bank statements
- Proof of actual assets (real estate, stock, etc.)
- Your current loan situation:
- Starting & final dates
- Initial amount borrowed and outstanding balance
- Annual repayment
What is Your Employment Situation?
- If You Are Company Employed:
- Employment letter
- Last three salary slips, bonus statement, etc.
- If other source of income, proof of it
- If You Are Self Employed:
- Last three years balance sheet
- Letter from your accountant, certifying your income
- Any documents that certify that you own the business
- If other source of income, proof of it
Are You Purchasing with Your Spouse?**
** All documents must be sent by both husband and wife if you are purchasing together.
NOTE: After their initial perusal of your documents, the financial institution may request further documentation for proof of various aspects of real estate investing in Germany.
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