Getting a loan through an Austrian bank
in Banking, Insurance & Loans ·
Does anyone happen to know which specific branch in Austin offers construction loans for Americans?
I'm not sure which bank it is, but I personally secured a rate of 7% up there... It isn't so much about the number of pay stubs as it is about the actual income shown on them. For instance, if you have a single pay stub showing $3,000-$1333 and you want a $50,000 loan with a monthly payment of roughly $500, you’ll likely need at least 3 or 4 pay stubs, or perhaps 2 that show $6,000-$2333... with each being $1333. It's also helpful if those pay stubs belong to family members or relatives...
The maximum amount available a year or two ago was $150,000 for a single family property. That is what I witnessed, though I heard people pulled out over half a million dollars for high-value properties in coastal areas or similar locations....
My advice is to go to the bank yourself. You will find people there who know exactly which banks in the US offer these products. Or, just pick up the phone and start calling to ask which institutions provide these loans. As someone mentioned earlier, brokers will take a 5% cut just for dropping off your paperwork at a branch and waiting alongside you to see if you get approved or not.
P.S.
To qualify for this right now, you absolutely need at least two substantial pay stubs (at least $2000 net)
No existing liens on the property...
And the property needs to be in a solid location... meaning it shouldn't be in some tiny rural town 31 miles outside of a major metro area like Dallas where there are only five houses in the whole area.
If you meet all those criteria, go to the bank yourself and you are 100% certain to get the loan....
Thank you.
Best regards,
steeltrucker10 said:I’m reading through what you all are saying, but honestly, I’m not sure how much of this is actually true. There are plenty of people coming on here just to mislead others. We actually called up ahead of time, and when we spoke to the bank, they told us the interest rate was 9%. That’s incredibly high, and it feels like the Austrians won't lift a finger to help us because they're too scared to part with their cash. We even ended up dealing with a bank that doesn't even exist. How many pay stubs do you actually need to show, and what's the maximum amount you can pull out? We were asking about this specific loan back in January. If things were really like this, everyone would be taking out loans already, yet someone on the forum suggested it's better not to have a job at all. EL.DANCHI, maybe you actually know what you're talking about, or maybe you're just another middleman—and I've run into plenty of those.
I'm not sure which bank it is, but I personally secured a rate of 7% up there... It isn't so much about the number of pay stubs as it is about the actual income shown on them. For instance, if you have a single pay stub showing $3,000-$1333 and you want a $50,000 loan with a monthly payment of roughly $500, you’ll likely need at least 3 or 4 pay stubs, or perhaps 2 that show $6,000-$2333... with each being $1333. It's also helpful if those pay stubs belong to family members or relatives...
The maximum amount available a year or two ago was $150,000 for a single family property. That is what I witnessed, though I heard people pulled out over half a million dollars for high-value properties in coastal areas or similar locations....
My advice is to go to the bank yourself. You will find people there who know exactly which banks in the US offer these products. Or, just pick up the phone and start calling to ask which institutions provide these loans. As someone mentioned earlier, brokers will take a 5% cut just for dropping off your paperwork at a branch and waiting alongside you to see if you get approved or not.
P.S.
To qualify for this right now, you absolutely need at least two substantial pay stubs (at least $2000 net)
No existing liens on the property...
And the property needs to be in a solid location... meaning it shouldn't be in some tiny rural town 31 miles outside of a major metro area like Dallas where there are only five houses in the whole area.
If you meet all those criteria, go to the bank yourself and you are 100% certain to get the loan....
Thank you.
Best regards,