€300,000, 3.5% interest, 2% repayment, 10-year fixed rate
Payment €1,375, balance €228,284, full term 29 years.
Germany mortgage calculator (Tilgungsrechner)
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A German annuity loan with a fixed monthly payment and monthly interest. The extra repayment is paid once a year at the year end. After the fixed-rate period the calculator keeps the same rate; your real follow-on rate may differ.
300 thousand
%
%
years
Monthly payment
€1,375
After the 10-year fixed-rate period, €228,284 is still owed. At the same rate the loan is paid off in 29 years, with €177,593 of interest in total.
- Owed after 10 years
- €228,284
- Interest in 10 years
- €93,284
- Full term
- 29 years
- Total interest
- €177,593
Repayment plan by year
| Year | Interest | Repayment | Owed |
|---|---|---|---|
| 1 | €10,403 | €6,097 | €293,903 |
| 2 | €10,186 | €6,314 | €287,589 |
| 3 | €9,961 | €6,539 | €281,050 |
| 4 | €9,729 | €6,771 | €274,279 |
| 5 | €9,488 | €7,012 | €267,267 |
| 6 | €9,239 | €7,261 | €260,006 |
| 7 | €8,980 | €7,520 | €252,486 |
| 8 | €8,713 | €7,787 | €244,699 |
| 9 | €8,436 | €8,064 | €236,635 |
| 10 | €8,149 | €8,351 | €228,284 |
| 11 | €7,852 | €8,648 | €219,636 |
| 12 | €7,544 | €8,956 | €210,680 |
| 13 | €7,226 | €9,274 | €201,406 |
| 14 | €6,896 | €9,604 | €191,802 |
| 15 | €6,555 | €9,945 | €181,857 |
| 16 | €6,201 | €10,299 | €171,558 |
| 17 | €5,835 | €10,665 | €160,892 |
| 18 | €5,455 | €11,045 | €149,847 |
| 19 | €5,062 | €11,438 | €138,410 |
| 20 | €4,656 | €11,844 | €126,565 |
| 21 | €4,234 | €12,266 | €114,300 |
| 22 | €3,798 | €12,702 | €101,598 |
| 23 | €3,346 | €13,154 | €88,444 |
| 24 | €2,878 | €13,622 | €74,822 |
| 25 | €2,394 | €14,106 | €60,716 |
| 26 | €1,892 | €14,608 | €46,108 |
| 27 | €1,373 | €15,127 | €30,981 |
| 28 | €835 | €15,665 | €15,316 |
| 29 | €277 | €15,316 | €0 |
How repayment works on a German mortgage
Most German home loans are annuity loans. You pay the same amount every month. It is made of interest and repayment, and as the debt falls, the interest part shrinks and the repayment part grows.
The payment comes from the interest rate plus the initial repayment rate. On €300,000 at 3.5% interest and 2% repayment that is 5.5% a year, so €16,500, or €1,375 a month. In the first month €875 of it is interest and only €500 repayment.
The fixed-rate period is usually 10 to 15 years. When it ends there is a balance, about €228,284 after 10 years in the example, for which you agree a new rate. Over those first 10 years you pay about €93,284 in interest.
Extra repayments are the quickest way to save interest. Many contracts allow 5% of the loan a year free of charge. How much you can borrow depends on your net pay, which the Germany net salary calculator shows.
Sources
What this calculator does not account for
- The real follow-on rate after the fixed period, commitment interest and fees.
- Purchase costs such as property transfer tax, notary and agent.
How this is calculated
Formula: Annuity loan (Annuitätendarlehen)
monthly payment =loan × (interest rate + initial repayment rate) ÷ 12What the symbols mean
- interest rateSollzins, the contract rate per year.
- initial repayment rateAnfängliche Tilgung, the share of the loan repaid in the first year, for example 2%.
- balanceRestschuld, what is still owed when the fixed rate ends and must be refinanced.
Good to know
- Each month the interest part falls and the repayment part rises; the payment stays the same.
- For an EMI in rupees, use the EMI calculator.
Read the full methodologyFound an error? Contact us
Worked examples
Each example is worked out by the same code as the calculator above.
As above, plus €5,000 extra a year
Balance after 10 years €169,473, term 19 years 5 months.
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<iframe src="/embed/germany-mortgage-calculator" title="Germany mortgage" width="100%" height="720" style="border:0;max-width:42rem" loading="lazy"></iframe>Questions
What is the payment on €300,000 at 3.5% interest and 2% repayment?
€1,375 a month. After 10 years about €228,284 is still owed; at the same rate the loan is paid off in 29 years.
How high should the initial repayment be?
Banks usually want at least 2%, and many advisers suggest 3% or more. At 1% repayment the loan often runs over 40 years.
What does an extra repayment do?
It cuts the balance directly and saves interest. With €5,000 a year in the example above, the balance after 10 years falls to about €169,473 and the term shrinks to about 19 years 5 months.
What happens when the fixed rate ends?
You need follow-on financing (Anschlussfinanzierung) for the balance, from your bank or another. The new rate can be higher or lower. The calculator keeps the same rate.
What is the difference between Sollzins and Effektivzins?
The effective rate also counts monthly payment and some fees. It is a little higher than the contract rate and is the one to compare offers by.