Construction financing despite a very bad Schufa score

Rejections can also appear in the Schufa and cause a poor score.


You can talk about everything with banks. But then please not an online direct bank, because they don't even want to hear your story. Talk to banks in your region about your financing request. I used to approve financing with negative entries when I still had to approve private construction financing, if there was a good story behind it.

The statement is nonsense because especially the large direct banks have a huge construction financing portfolio and can handle such cases better than the Sparkasse. They have corresponding customer references about their payment behavior and you are not penalized with worse interest rates.

Go to Mr. Müller at the Sparkasse, who checks a construction financing every 2 months: Oh God, oh God, what have you been doing the last few years that your score is so bad? So we already add 0.4% on top and I have to ask the fun bank director.

There we almost have the answer: You can get into 6k€ of debt from one day to the next. Try reducing the overdraft to a normal 500€ and see what happens in the next quarter. If you don’t need the credit card for work, then also change it to a debit card. If you don’t live in Asihausen or have moved numerous times and haven’t kept anything secret, then that should be it.

That’s nonsense. Most overdrafts don’t even appear in the Schufa. And even if you have personal loans and credit cards with limits (we could get overdrafts and this 30T from one day to the next), the Schufa score was completely normal.

Changes (such as new entries (change of credit cards / costs, moves)) tend to lower the score.

Schufa (apart from negative entries) is rather secondary in mortgage financing business.

The statement is nonsense because especially the large direct banks have huge mortgage portfolios and can handle such cases better than the Sparkasse. They have relevant customer references regarding their payment behavior and you are not penalized in the interest rate.

Go to Mr. Müller at the Sparkasse who reviews a mortgage every 2 months: Oh God oh God what have you been doing the last years that your score is so bad, so we add 0.4% to that and I have to ask the savings bank director

Well, we had the opposite experience. Our situation looks much worse on paper than in reality (ongoing car loan, fixed-term contract of the current sole breadwinner... but as a teacher, who in this federal state only get permanent positions once they are civil servants, which usually is not the case immediately, and the status of sole breadwinner will also change next summer). But with the direct banks, we couldn't properly indicate this and thus received either bad or no offers. At the Sparkasse here, on the other hand, we got a very good offer because they knew us and listened to the circumstances.

Know a case: same first and last name, same birthday. Such things can happen.

In any case, it led to Person A having negative entries from Person B in their own Schufa. It took years until the misunderstanding was clarified and recognized and corrected by Schufa.

There are also people who "initially" make credit inquiries under false names / birthdays and accidentally imitate a real person. The Schufa system is not exactly sophisticated when it comes to mix-ups. Unlikely that something like this is the case here, but it could be.

Rejections can also appear in the Schufa and cause a poor score.

Rejections can also appear in the Schufa and cause a poor score.

Definitely! That will be the reason why the score has dropped further. Every inquiry and subsequent approval or rejection affects the value!

That's a vicious circle - you get rejected because you have a bad score and as a result receive an even worse score, get rejected again, etc.. But I am quite confident that the score is increasing - at the beginning of the year it was at 81%, now it is at 87%. It could mean something, but it doesn't have to.