Immotion Capital

Real estate advisor

In our guide, property sellers and property buyers will find valuable information on all aspects of property ownership. You would like to sell or buy a property and this involves a variety of questions. It is important to us to support you. Here you will find valuable tips that cannot replace individual advice. You can contact us personally with your questions at any time.

Can self-employed people finance a property via a loan?

Yes, it’s possible, but banks will check the background of the applicant even more closely. They worry that the property loan won’t be paid off in the long term. The risk that a self-employed person will end up in financial difficulties is greater. Furthermore, fluctuations in the level of earnings are more likely than they are for employed persons. Regular income is essential as far as loan approvals are concerned. The bank will even check pension income. Nevertheless, self-employed people also have a good chance of obtaining financing if they have the right background.

However, it is more difficult to obtain the loan. The bank examines even more documents than they do for employed persons in their credit check. Furthermore, it is easier for certain freelancers such as lawyers or doctors to get loan approval. Their income is regarded as more stable. Since not every credit institute will consider self-employed people for a loan, it is advisable to be particularly careful in finding the right loan. The difference in interest is often immense, which makes a comparison even more important.

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