FinCal

Affordability

From your net income and savings to the maximum rate, loan and purchase price a bank may accept.

€439,457 home price, at most

You can afford a loan payment of about €1,925 a month. That carries a loan of €412,500 and a home of up to €439,457.

The limit is the bank's 35% rule; your budget would allow €3,150.

Household
Net income per month What actually arrives in your accounts each month, after income tax and social security – for everyone who will pay the loan together. Add child benefit (Kindergeld) if you receive it; leave out one-off bonuses.
€
Living costs Everything you spend each month apart from housing. Your current rent disappears once you own, so leave it out. Banks often assume at least €800–1,000 per adult plus €300 or more per child.
€
Other loan payments Monthly payments on loans you will still have after buying. They count against the bank's income share and against your budget.
€
Bank's view
Max. share of income for the loan Banks rarely lend if all your loan payments together would take more than this share of your net income. It is a rule of thumb, not a law – lower is safer.
%
Nominal interest rate German: Sollzins The yearly interest rate on the loan, without fees. The bank charges one twelfth of it each month on the remaining debt. To compare offers, look at the effective rate instead. All terms in the glossary
%
Initial repayment rate German: Anfängliche Tilgung The share of the loan you repay in the first year, in percent. Together with the interest rate it sets the monthly payment: (interest + repayment) × loan ÷ 12. Because interest falls over time, the repayment grows each year. 2–3% is common; below 1.5% the loan takes very long to pay off. All terms in the glossary
%
Fixed-rate period German: Zinsbindung Only used for the stress test: when the fixed rate ends, the remaining debt has to be refinanced at whatever rates apply then. How long the interest rate is guaranteed, typically 5–20 years. After it ends, you have to refinance the remaining debt at whatever rates apply then. By law you can cancel any loan 10 years after payout with six months' notice, without a penalty. All terms in the glossary
years
Running costs of the home Costs an owner has on top of the loan: the service charge for an apartment (Hausgeld), savings for repairs (Instandhaltungsrücklage) and property tax (Grundsteuer). About €3–5 per m² a month is a common estimate.
€
Purchase
Own capital (down payment) German: Eigenkapital Savings you put into the purchase yourself. Banks expect it to cover at least the incidental costs; with 20% or more of the price on top you get noticeably better interest rates. All terms in the glossary
€
Federal state German: Bundesland Germany's 16 states. Each sets its own real estate transfer tax, which is why the state of the property matters for the purchase costs. All terms in the glossary
Fees Kaufnebenkosten
Notary German: Notar In Germany every property purchase must be signed in front of a notary, who drafts the contract and handles the registration. Fees are set by law (GNotKG), roughly 1–1.5% of the price. All terms in the glossary
%
Land registry German: Grundbuch The official register of who owns a property and which loans are secured on it (Grundschuld). Entering you as owner and registering the bank's security costs about 0.5% of the price. All terms in the glossary
%
Broker's commission German: Maklerprovision The fee for the estate agent. For houses and apartments the buyer pays at most half of it; a common share is 3.57% of the price including VAT. There is none if you buy directly from the owner. All terms in the glossary
%

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Max. monthly payment Monthly payment German: Rate / Monatsrate The highest loan payment that fits both the bank's rule (share of income) and your budget after living costs. What you pay the bank every month: interest plus repayment. With an annuity loan it stays the same for the whole fixed-rate period. All terms in the glossary
€1,925
Max. loan Max. loan The loan this monthly payment carries at the interest and initial repayment rate you entered.
€412,500
Max. purchase price Max. purchase price Loan plus your own capital, minus the incidental costs (transfer tax, notary, land registry, broker) that also come out of that money.
€439,457
Payment if rates rise 2 points Payment if rates rise 2 points A stress test for when the fixed-rate period ends: the debt still left then is refinanced at 2 percentage points more interest, with a payment that still clears it by the planned payoff date. "–" means the loan is repaid before the fixed rate ends.
€2,258

If rates are 2 points higher when the fixed rate ends

After 10 years you would still owe €313,372. Refinanced at 5.6%, paying it off by the same date would cost €2,258 a month – €333 more than today. Keep a buffer, or choose a longer Fixed-rate period German: Zinsbindung How long the interest rate is guaranteed, typically 5–20 years. After it ends, you have to refinance the remaining debt at whatever rates apply then. By law you can cancel any loan 10 years after payout with six months' notice, without a penalty. All terms in the glossary .

Monthly budget Monthly budget Your net income, split into the loan payment, your living costs, the running costs of the home, other loans and what is left over. Keep something left over for surprises.

How your net income splits at the maximum payment

Loan payment
€1,925 35%
Living costs
€2,000 36%
Running costs of the home
€350 6%
Other loans
€0 0%
Left over
€1,225 22%

How interest rates move your budget How interest rates move your budget The same monthly payment buys much less home when interest is higher. Read along the line to see how the maximum price moves if rates rise or fall before you sign.

Maximum purchase price at the same monthly payment