Financing condominium despite bad Schufa score

Hello everyone,

My wife and I originally wanted to purchase an apartment. However, we now see the financing at risk because my Schufa score is low (91.3%). A brief overview of our plan:

Apartment in [Main Taunus Kreis]:
Cost: €470,000 (incl. parking spaces and fitted kitchen)
Additional costs: €35,250
Broker fee: €27,965

The total costs amount to €533,215. Our equity is about 90K. So we would have to finance €443,000. We could possibly use an additional 10K if we sell part of our securities.

Our combined income is about €6,100. We could manage a monthly payment of about €1,700.

Now to the problem. The Interhyp advisor said that our Schufa scores absolutely must be above 95%. Mine, as described above, is below that, although I have no negative entries. It is rather due to too many checking accounts and an additional credit card. I have no other explanation. My wife has a very good score (over 98%). Additionally, she is a civil servant in higher service and is therefore well suited for successful financing. But how does this look now? Will our plan fail because of my low score? What do you think? Do you have any tips? We really like the apartment we have seen and it would be a pity if it doesn’t work out.

Thank you and best regards
Guntpat

Get yourself a Schufa report and do some research. Otherwise, it should work.

I see no reason why it shouldn't work.

My father-in-law also has a poor Schufa score even though he has no debts, credit cards, and a good income. It turned out that negative entries were mistakenly made here. The negative entries came from a person in the same town who has the exact same name as my father-in-law. He did not know this person at all, even though they live only about 1 km away from him. Schufa simply confused the two people.

Check your own entries yourself to see exactly where they come from.

Thank you for the note. Interestingly, I do not have any negative entries. I should be able to see them, right, or are they not displayed in the overview (SCHUFA-online.de)? I can only imagine that a recent checking account change is responsible for this. But still, the score is very poor considering that I have no negative entries.

To justify such a Schufa score, in my opinion, you must have entries. But if it really should only be due to the account switch (which I believe less), a lender should be able to assess that and in any case still grant a loan. Maybe try it through bonify. There you can also check your score for free.