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Germany 2026: Rate & Repayment

Your rate depends on the fixed period, your credit profile (Bonität), the loan-to-value ratio and the loan amount. Banks set the rate individually, so compare the effective rate (Effektivzins) of several binding offers before you decide.

Most advisors recommend 20 to 30 percent of the purchase price as equity, plus the full closing costs (10 to 15 percent). 100 percent financing is possible but comes with noticeably higher rates and stricter income requirements.

The Sollzins (nominal rate) is the pure interest rate on the loan. The Effektivzins (effective rate) includes all additional costs such as processing fees. Always compare offers using the effective rate.

With low rates, a longer fixed period (15 - 20 years) makes sense, because you lock in the cheap money. With high rates, a shorter period (5 - 10 years) can be the right call if you expect rates to fall.

After the fixed period ends, you can repay or refinance the loan at any time. During the fixed period, early termination is only possible with a prepayment penalty (Vorfälligkeitsentschädigung). Section 489 BGB lets you cancel after 10 years with 6 months notice and no penalty.

A Sondertilgung is an extra payment on top of your regular monthly payment. It reduces your remaining balance directly. Most banks allow 5 to 10 percent of the original loan per year free of charge.

Grunderwerbsteuer varies by federal state between 3.5 and 6.5 percent. Bavaria has the lowest at 3.5 percent. The highest is 6.5 percent in Brandenburg, North Rhine-Westphalia, Saarland, and Schleswig-Holstein. On a 400,000 EUR purchase, the difference between the cheapest and most expensive state is around 12,000 EUR.

A Forward loan locks in today's rates for a future refinancing, up to 60 months ahead. In return, the bank adds a surcharge to your rate for each month of lead time.