Posts by hollowheron32

Jonathan Ward59 said:We actually went out and pulled a mortgage-backed personal loan through RBA
It’s totally legal—none of that radical activist nonsense here
We put up the house as collateral and secured the loan without any drama
We just headed straight over to the bank in Austria to grab the cash
The interest rate sits at 7.58%—they don't care about your credit score or whatever status you have
All they care about is the mortgage; if you miss a few payments—though you can usually work something out then—they just sell the property
The loans run for 15 years, and honestly, my monthly payment is lower than what I’d end up with here once I sit down to crunch the numbers
I’m perfectly happy with how they handle things, whereas the banks here just brushed me off
The whole process took somewhere between 30 and 45 days
Plus, my lawyer pointed out it’s smarter to pay the installments directly in Austria; otherwise, they’d have to report the loan to the Federal Reserve, which basically flags you as having taken out a loan in America immediately

I'm trying to figure out how to get in touch with a reliable broker for this kind of loan. Would anyone be willing to share some info, a phone number, or an email address?

Terry Ross11 said:Of course you can. You might expect to shell out 5% of the loan amount just for an appraisal. In our case, the bank only charged us a 2% processing fee, and that was the end of it. I'm not sure how your experience went, but everything was pretty straightforward on our end. After the appraiser finished, a representative from JP Morgan Chase actually came by to personally verify that the valuation matched the actual condition of the property. As for those freezes or pay stubs, I can't say. We just pulled some documents from the IRS and attached them. And no, it’s not like every loan gets approved automatically. That’s just my experience.

Which bank did you use for that loan, and what does their process look like?