Creditworthiness for mortgage loans explained

Creditworthiness explained: how banks check credit ratings for real estate loans, the role of income, SCHUFA, and rents, and what to prepare.

FAQ

Does a financing inquiry harm my SCHUFA score?

A request for conditions (Konditionsanfrage) is not used by SCHUFA for the score. A loan application (Kreditanfrage) is treated differently; ask the bank which type of inquiry they are making.

What if my creditworthiness is not enough?

More equity, a lower loan amount, a longer term, or a cheaper property will improve the calculation. A second person as a co-borrower can also help.