Self-disclosure for house & apartment loan

Self-disclosure contains your income, assets, expenses, debts & Schufa query. You get the self-disclosure from your bank. So you know how much credit your bank will give you for your property.

Self-disclosure contents

At a glance:

1. Personal data
2. Revenue and assets
3. Expenditure and debt
4. Documents
5. Consent Schufa query (creditworthiness)

Personal data

• Name, date and place of birth
• Address and contact details
• Marital status and number of children
• Nationality

Revenue and assets

• Income from salary, self-employment, rental income, etc.
• Savings and investment accounts
• Real estate holdings and their estimated values
• Securities, shares and other assets

Expenditure and debt

• Monthly expenses such as rent, loan installments, living expenses.
• Existing credits and loans
• Open invoices and payables

Documents

• Proof of salary for the last few months
• Bank statements to confirm your financial situation
• Evidence of other assets, such as securities or savings books
• If you are already a customer at another bank, inform about your account there

Consent Schufa query (creditworthiness)

• Allow the bank to check your creditworthiness with Schufa or other credit bureaus
• A positive credit rating increases your chances of obtaining favorable financing

Bonus tip 1: Go to the bank before the deal moment

Before you jump into the real estate market, I recommend building a good relationship with your bank ahead of time.

That doesn’t just mean when you need financing. Bank advisors can give you valuable tips and advice to improve your financial situation.

Bonus tip 2: Say hello to bankers even when times are good

Building a relationship with your bank advisor is not a one-way street. Show interest in your bank advisor, even if you don’t need financing right now.

Visit the bank to give updates, talk about your plans, or just say hello. This can help you get better support during difficult times.

Self-disclosure simply explained

Self-disclosure for real estate purchase or financing is an important step on the path to your dream home. By properly compiling the required information and maintaining the relationship with your bank, you can ensure that the process goes smoothly and you get the best terms for your real estate financing. Check out my new YouTube video for more useful tips and information on this topic.

Lukinski YouTube: Yield, Capital Investment & Co.

Discover with me the crucial factors, key figures and basics of real estate investment. Compared to other forms of investment, real estate offers a ‘safer’ way to invest capital with consistent returns and long-term appreciation. Want to invest your money wisely? My recommendation: Real estate, passive income and a good life.

• Lukinski YouTube