I am paying very high rent plus for a large house which houses my
business in Europe--up to 6,500 Euros per month. I estimate the house
worth as much as up to 770,000 Euros worth. I would much rather have
this high rent go into equity than "out the window." Are there
capital firms that I can work with to buy this house? It is an
unusual situation because I am an American with an American bank that
gives mortgages in the US, not Europe.
I bought my house in the states without downpayment, being relatively
capital poor, as are many Americans. So, what could be another part
to this question: Are there capital firms that
could supply the very large down payment that is expected in Europe
(25%) such that I could then get a relatively normal European
mortgage? That is, maybe they expect this downpayment capital to be
paid back at a better interest rate. (According to my not expert
knowledge, the interest rates for house buying in Europe vary, but
here are very low, as low as 3-4%, even lower than the States, which
could be the interest rate paid on the mortgaged part.) In addition,
the house has 2 or 3 rentors paying rent that could be applied toward
this "creative mortgage loan," if it is possible. Lastly, let me add
that the two types of capital firms may be different, it seems to me
in my naive state.
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Request for Question Clarification by belindalevez-ga on 23 Jun 2003
01:25 PDT
In which European country is the house located?
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Clarification of Question by chiconanny-ga on 23 Jun 2003 05:47 PDT
The house is located in Germany.
Let me point out we have paid this rent (with increases) for 4 1/2
years so far, as can be verified by my accountant.
I am relatively capital poor because I initially invested 160,000 to
go in, and there has been a little bit more that I put in.
We have made small profits every year, despite difficulties,
especially in the beginning.
NOTE: A Tom Lundgreen Mortgage broker, with handle mortgagepro-ga
tried to give me some tips, but I could not communicate with himl.
That was not enough information to find you on the web with search
engines. We can communicate though here somehow. |