Honestly, I'm starting to wonder how anyone in this country gets a mortgage.
I'm trying to get a loan for a condo that is totally reasonable and not anywhere close to over-reaching (our monthly payment would be less then what we pay in rent right now), putting 25% down, having really good credit, showing assets that total to more than what the condo is worth.....and still getting resistance and them asking for more. It seems like if you're self-employed and relatively new to the country, you might as well pay in cash or GTFO.
I knew getting a mortgage here was a lot tougher than in the US, but I didn't realize it was this bad. I'm starting to see why there wasn't a banking crisis in this country. You don't have one when you simply don't give out loans to anyone but the wealthy.
Funny thing is, almost a decade ago when I was still in college, making crap $, had maybe 10k to my name, and was looking to buy something in the same price range....I was approved.
|