Search found 2 matches

by
Wed May 15, 2019 7:35 pm
Forum: Home Loan Forum
Topic: Going on 60 years old Looking to purchase an investment property
Replies: 3
Views: 9663

Re: Going on 60 years old Looking to purchase an investment property

We’re making the maximum concessional contribution to our super every year. We will be downsizing when I retire, likely when I’m 65. Is it an acceptable exit strategy?
by
Wed May 15, 2019 5:53 pm
Forum: Home Loan Forum
Topic: Going on 60 years old Looking to purchase an investment property
Replies: 3
Views: 9663

Going on 60 years old Looking to purchase an investment property

Hi, we’re really keen on purchasing another property as an investment The contract price is $730,000 approx. and it’s located in a great area in Geelong VIC. We may sell it later or downsize from our current property to it. I’ll be 60 years old come July, and my wife is in her late fifties. We own our house completely, the market prices for similar properties near us are between $850,000 to $900,000. Our combined super balance is $220,000. As we’re nearing our retirement age we’ve been told that it’s harder to get approved for a mortgage. Is that true? If so, how do we qualify for a home loan?