The German banks are granting loans provided certain criteria are fulfilled. Above all, it is recommended that the property will be located in a fairly good area or neighborhood. So the bank will be able to easily sell the property in case of failure to comply with the payments. It is desirable that the respective property is leased or that the applicant can at least provide a forthcoming rental agreement. Furthermore, the price of the property should not be too low, not less than EUR 50,000. Some banks require that the property price will be not less than EUR 100,000. Moreover, the applicant has to submit to the bank all required documentation (in German) proving his financial situation (salaryi/income and own capital), his ownership of the property and a mortgage insurance policy. In addition, copy of his passport.