Real Estate Loan: Self-employed are struggling with high hurdles

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Real Estate Loan: Self-employed are struggling with high hurdles

Anyone who wants to take out a real estate loan as a freelancer or self-employed person usually has far more difficulties than employees or civil servants. After all, self-employed workers can not simply provide information about their income with salary statements. For some banks, the risk that a real estate loan for self-employed brings, even with balance sheet overview too high.


Selbständige beim Immobilienkredit benachteiligt
Real estate loan for self-employed not self-evident

A real estate loan for the self-employed and freelancers is usually not only connected with a more extensive examination of the income situation of the borrower. Especially self-employed persons, who have a fluctuating income, have to reckon with considerable security discounts on real estate financing . Anyone who still wants to record a real estate loan as cheaply as a self-employed person, therefore, has to compare the various offers more precisely.

Real estate loan: self-employed people have worse conditions

How cheap a real estate loan for the self-employed depends, as with other borrowers on various factors. However, the highest chances for a successful financing exist when self-employment has existed for at least three years and complete and above all positive balance sheets are available for this period. In terms of income, the banks assess profit before taxes, but in addition to retirement provisions they still deduct a discount of usually 30 percent . Only the income left over is estimated when calculating the exact loan terms. In general, of course, applies to real estate loans for the self-employed: With a high equity ratio, the prospects for a loan increase significantly.

Service: You are independent and want to fulfill the dream of your dream home? With a non-binding construction financing offer you will find a suitable real estate loan.

Which self-employed persons have a particularly difficult time with a real estate loan?

For the bank, the real estate loan for the self-employed is not only important to the income situation of the prospective customer. Some industries are considered very uncertain. Self-employed people who work in these areas therefore find it particularly difficult to obtain a real estate loan on favorable terms. For example, restaurateurs are affected, as are commercial agents or physiotherapists. Some freelancers, such as doctors and pharmacists, are gladly seen by the banks because of their often very good and stable income.

This should consider self-employed in real estate loan

Self-employed should make their real estate loan more flexible than employees. The obligatory redemption should be set as low as possible , so that even in low -order months the payments do not exceed the financial possibilities. In return, it is important that special repayments are possible without additional fees . As a result, self-employed workers can lower the residual debt more effectively if, for example, they have completed a larger contract. The self-employed are also well advised to arrange the longest possible term with the respective bank. Thus, they increase the chances of repaying the real estate loan on time and avoid difficulties in extending or refinancing. In addition, if the bank engages in a long-term interest rate commitment – all the better.


Bernd Lauberg

editorial staff

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