Hey,
I know this was doable in the past. Me and my long term partner are saving for a mortgage. We are both on 20k a year. We do not drink or smoke, have a very small tiny carbon footprint so our bills are tiny, and we are secure in our jobs. We can save 800 euro a month and have money left over for eating out, shopping, bills, car insurance and everything else.
We could finance a 240k mortgage. The problem is we do not have the deposit. A house in the countryside is on sell for 240k which has an insane amount of land attached to it. It is a bargain and someone will snap it up sooner or later. I could finance a loan of 19,200 Euro from my local CU., borrowing money from family to get the secured loan.
In a nutshell, is it still possible to get a credit union loan to use as a deposit for a house?
Any help or advice. would be appriciated.
Kai
I know this was doable in the past. Me and my long term partner are saving for a mortgage. We are both on 20k a year. We do not drink or smoke, have a very small tiny carbon footprint so our bills are tiny, and we are secure in our jobs. We can save 800 euro a month and have money left over for eating out, shopping, bills, car insurance and everything else.
We could finance a 240k mortgage. The problem is we do not have the deposit. A house in the countryside is on sell for 240k which has an insane amount of land attached to it. It is a bargain and someone will snap it up sooner or later. I could finance a loan of 19,200 Euro from my local CU., borrowing money from family to get the secured loan.
In a nutshell, is it still possible to get a credit union loan to use as a deposit for a house?
Any help or advice. would be appriciated.
Kai