Applying for a loan while living abroad
in Banking, Insurance & Loans ·
Jonathan Ward59 said:So, I’ve actually dealt with JPMorgan Chase before, specifically their Austrian branch
I took out a $50,000 loan from them about a year back
Local banks here wouldn't touch me—too many excuses, things like not having enough reported income, being a single parent with two kids, or some nonsense about being near the social safety net threshold
Honestly, I don't even know half the hoops they try to make you jump through, so I just turned to Austria instead
It was easy; based on the house I put up as collateral, I could have easily pulled $75,000
Instead, I went with $50,000 over a 15-year term, and my monthly payment sits at around $658, which includes life insurance
I don't have the exact numbers for the appraisal costs, and legal fees were pretty standard—most people end up hiring their own lawyer anyway
The commission was 6%
They didn't make it a massive ordeal like the banks here do, and everything was finalized in about a month and a half
All in all, I'm satisfied
though if I had tried to do this locally, my monthly payment would probably have been closer to $667 over a 25-year stretch
If anyone is willing to share a contact address or phone number via private message...
I am prepared to offer a broker 20% of the loan amount, and if you connect me with them, I'll give you 10%. I just need to get this done.
The plan and the concept are brilliant and absolutely worth it, which is why I'm willing to offer such a massive commission.