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by Sue
Mon Apr 29, 2019 6:48 pm
Forum: Home Loan Forum
Topic: Looking at borrowing 95% - Can you make this work?
Replies: 5
Views: 1681

Re: Looking at borrowing 95% - Can you make this work?

Got it. Can you also give me an estimate of how much LMI will I be paying?
by Sue
Mon Apr 29, 2019 5:30 pm
Forum: Home Loan Forum
Topic: Looking at borrowing 95% - Can you make this work?
Replies: 5
Views: 1681

Re: Looking at borrowing 95% - Can you make this work?

Okay, so the lender is going to do their own credit scoring for my home loan.
How do I make sure that this is not going to be an issue?
by Sue
Mon Apr 29, 2019 3:52 pm
Forum: Home Loan Forum
Topic: Looking at borrowing 95% - Can you make this work?
Replies: 5
Views: 1681

Looking at borrowing 95% - Can you make this work?

Hi, I’m a PAYG painter earning 65k a year. I have $25,000 in savings and a close relative is gifting me $35,000 for the deposit. I’m looking at borrowing $475,000 on a property valued at $500,000. This will be my first home purchase. I’m currently paying $500/month on rent.
Can you make this work?

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