Assessing a mortgage: Baufinanzierung
An Iranian resident seeking German Baufinanzierung must pass the lender’s individual creditworthiness assessment. Compare the written loan information and affordable repayments; an account, residence permit or property offer does not by itself establish mortgage approval.
Step by step
- Seek an assessed written offerClarify your evidence and funding with the lender, complete its assessment and review written costs and repayment risks before committing.
Section 505a BGB requires assessment before a consumer loan. Ask the lender what evidence it needs for your income, existing obligations, residence situation and own funds, including any Iranian-source funds. No single statutory document list guarantees acceptance.
The lender must explain the proposed consumer loan and its effects sufficiently for you to judge suitability. Request the pre-contract information and draft when applicable, and compare interest, repayment, duration, remaining debt and any bundled products. Clarify the consequences of missed payments before making a binding property commitment.
Sources
- BGB § 505a · Bundesministerium der Justiz und Bundesamt für Justiz
- BGB § 491a · Bundesministerium der Justiz und Bundesamt für Justiz
