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The First Payment Letter Mortgage (Auszahlungsbestätigung für Hypothekendarlehen) is a crucial document in German mortgage lending processes, typically issued after the successful registration of the mortgage in the land register (Grundbuch) and fulfillment of all preliminary conditions. This document serves multiple purposes: it confirms the first disbursement of the mortgage loan, documents the commencement of the lending relationship, and records essential loan terms. Used primarily in residential and commercial property financing, it provides both parties with clear documentation of the loan's activation and key conditions. The letter must comply with German banking regulations, particularly the Banking Act (KWG) and Civil Code (BGB), and includes specific details about the property, loan terms, payment schedules, and security arrangements. This document is particularly important for audit trails, regulatory compliance, and establishing clear communication between the lending institution and the borrower.

1. Letter Header: Bank's letterhead, date, reference numbers, and recipient's details

2. Property Identification: Clear identification of the mortgaged property including land register details (Grundbuch)

3. Loan Details: Confirmation of the approved loan amount, interest rate, and key terms

4. First Payment Confirmation: Details of the first payment including amount, date, and payment method

5. Payment Schedule: Overview of the payment schedule including principal and interest breakdown

6. Security Arrangements: Confirmation of the mortgage registration and ranking in the land register

7. Key Conditions: Any specific conditions that must be met before or after the first payment

8. Contact Information: Relevant contact details for queries and future correspondence

9. Signature Block: Bank representative's signature and official stamp