The mortgage may cost €1,458 a month. The harder question is whether your household can afford everything that comes with it.
A couple finds a €350,000 apartment in Germany. They have steady jobs and some savings. The mortgage calculator gives them a monthly repayment that looks manageable.
Then they add the property transfer tax. The notary wants payment. The estate agent may charge a commission. After moving in, the apartment will bring costs that the mortgage calculator never included.
What does a household actually need to earn before buying a €350,000 home in Germany? The answer depends on savings as much as salary.
What are German mortgage rates in November 2026?
On 6 November 2026, Dr. Klein advertised a ten-year fixed mortgage with a 4.01% effective annual rate and 3.91% nominal fixed rate, for a qualifying example. Interhyp reported 4.25% effective for ten-year financing at 80% loan-to-value in its 26 October to 1 November offers. Neither is a guaranteed rate for every buyer.
For comparison, I use an illustrative 4.25% nominal annual borrowing rate and 2% initial annual principal repayment. This is a modelling assumption, not a quotation from a bank. A lower deposit can mean a higher actual interest rate.
A €350,000 home can cost more than €390,000
Germany’s property transfer tax, or Grunderwerbsteuer, varies by federal state. In North Rhine-Westphalia it is 6.5%. Notary and land-register fees also apply. Where an agent is involved, the buyer may pay a share of the commission.
Here is an example for North Rhine-Westphalia, assuming a buyer’s agent share of 3.57% and notary and land-register costs of 2%:
| Expense | Amount |
| Property price | €350,000 |
| Transfer tax (6.5%) | €22,750 |
| Notary and land register (estimated 2%) | €7,000 |
| Buyer’s agent fee (illustrative 3.57%) | €12,495 |
| Total | €392,245 |
The extra €42,245 comes before moving expenses, repairs and emergency savings. An agent fee does not apply to every purchase, and rates differ across states. A similar property in Bavaria would face a lower transfer tax.
How much would the mortgage cost each month?
Assume the buyer pays the purchase costs separately from savings. At a 4.25% nominal rate with 2% initial annual repayment, the approximate initial monthly payments are:
| Deposit toward price | Mortgage | Monthly payment |
| €70,000 (20%) | €280,000 | €1,458 |
| €35,000 (10%) | €315,000 | €1,641 |
| €0 | €350,000 | €1,823 |
These figures hold the rate constant to isolate the deposit’s effect. In practice, financing 100% of the purchase price may cost more or may not be offered to a particular borrower. With a 20% deposit in our example, the buyer needs roughly €112,245 in savings before moving costs and a cash reserve.
How much net salary would you need?
A bank reviews household income, existing debt and living costs. Loan approval is not the same as comfortable affordability. Suppose a household wants its mortgage payment to stay within 30% of monthly net income:
| Mortgage | Monthly payment | Net household income at 30% |
| €280,000 | €1,458 | €4,861 |
| €315,000 | €1,641 | €5,469 |
| €350,000 | €1,823 | €6,076 |
These are planning calculations, not German bank approval rules. Net income means take-home income after taxes and payroll deductions. Gross salary varies with tax class, employment and household circumstances.
Ownership costs change the calculation
An apartment may carry monthly Hausgeld, including building expenses and contributions to maintenance reserves. Heating may be included partly or billed separately. Houses have different maintenance and insurance costs.
Assume another €450 a month beyond the mortgage for ownership expenses. This is a budget example, not a national average. The €280,000 mortgage then means €1,458 plus €450, or €1,908 a month. To keep this total near 30% of take-home pay, a household needs approximately €6,361 net monthly.
Housing pressure is already visible among workers arriving in Germany. I examined the problem in Germany Needs Foreign Workers. But Where Are They Supposed to Live?
What happens at €4,000, €5,000 or €6,000 take-home pay?
| Combined monthly net income | Share spent on €1,908 housing budget |
| €4,000 | 47.7% |
| €5,000 | 38.2% |
| €6,000 | 31.8% |
| €7,000 | 27.3% |
At €4,000, the property absorbs almost half the family’s take-home pay. At €5,000, the purchase might work for a household with few other commitments, but the margin is narrow. At €7,000, the same home leaves more room for other spending and saving.
Childcare, car loans and supporting relatives change the answer. Germany’s higher salaries do not always translate into easy household budgets, as discussed in Europe’s Economy Is Growing. Why Do So Many Workers Still Feel Poorer?
A ten-year fixed rate does not pay off the home in ten years
A ten-year Sollzinsbindung fixes the interest rate for that period, not the full repayment term. On a €280,000 loan at the modelled 4.25% nominal rate and 2% initial repayment, the payment is about €1,458 a month. After ten years, roughly €210,000 would still be owed, subject to exact payment dates and lender calculations.
The remaining balance needs continued financing. If the follow-on interest rate is higher, the monthly payment or repayment period may change. Buyers should calculate how they would manage that risk before signing.
Is renting better?
Ownership builds equity as the mortgage principal falls, but the deposit is tied up in the property. Renting generally avoids purchase tax and purchase-related notary fees, and can make moving easier. Owners face unexpected repairs and the possibility of selling at a loss.
Compare the full cost of ownership with rent for a similar home, not the mortgage payment alone. Our earlier reporting on young European workers struggling to find housing shows why neither route is simple.
So what salary do you actually need?
For this €350,000 example, a household with a 20% deposit pays about €1,458 monthly on the mortgage under our assumed rate. Add €450 in ownership costs and the monthly housing budget reaches €1,908. Around €6,400 in combined monthly net income keeps that figure close to 30% of take-home pay. It is a cautious benchmark, not a bank requirement.
The family also needs enough cash for the deposit and transaction costs without emptying its emergency fund.
A lender decides how much it is willing to finance. The household must decide how much it can live with, including when a repair bill arrives or the fixed interest period ends.
Sources and methodology
Mortgage rate references: Dr. Klein, 6 November 2026; Interhyp, 26 October to 1 November 2026. Monthly payments use the standard initial annuity estimate: principal × (nominal annual interest + initial annual repayment) ÷ 12. The 30% housing share and €450 additional costs are illustrative planning assumptions. For personal budgeting, see Verbraucherzentrale’s affordability guidance.