moHouse
2020-08-11 23:12:42
- #1
OK. So briefly and concisely: completely different, not comparable circumstances.
It mainly means that currently more is possible than some people – myself included – can imagine.
Well. I see it differently. In the early 2000s, much more was possible. Back then, 100% and more financing went through even easier. Then in 2008, the USA showed us what can come of that.
This led, among other things, to some legal regulations for banks regarding risk assessment.
But banks are currently risk-averse anyway because of Corona.
The calculation is simple. If the loan-to-value ratio is low due to owning your own land and a lot of equity, the bank theoretically gives you unlimited credit. In case of non-payment, they’ll get their money back anyway.
In 3 years, the OP may have found a good plot/property. By then his girlfriend will know what she wants. By then enough equity should be saved. And by then it will be a bit clearer what the self-employment yields (for the OP’s planning, but also for the bank)
That’s the way...