Search found 3 matches

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Tue May 21, 2019 6:25 pm
Forum: Home Loan Forum
Topic: Are annual bonus and a gifted deposit accepted as genuine savings?
Replies: 5
Views: 11828

Re: Are annual bonus and a gifted deposit accepted as genuine savings?

Thanks for clearing all this up. Can you tell me how much the mortgage insurance will be? Also, any significant lender fees, legal fees, charges I should be aware of?
by
Tue May 21, 2019 3:50 pm
Forum: Home Loan Forum
Topic: Are annual bonus and a gifted deposit accepted as genuine savings?
Replies: 5
Views: 11828

Re: Are annual bonus and a gifted deposit accepted as genuine savings?

That’s a relief! I’m a little uninitiated in this matter so I’m just going to ask, can we use the first home owners grant as a deposit? What other benefits are there if any, if we were to say purchase an old house?
by
Tue May 21, 2019 1:43 pm
Forum: Home Loan Forum
Topic: Are annual bonus and a gifted deposit accepted as genuine savings?
Replies: 5
Views: 11828

Are annual bonus and a gifted deposit accepted as genuine savings?

Hi, I received a lump sum payment of $12,000 as part of our annual performance bonus which we would like to use as a deposit for a house along with a $15,000 gift from my in-laws. We’re both first home buyers looking to buy in Mickleham VIC. We’ve been renting the same place at $370 per week for the last two years and have only recently paid off our student debts (HECs) as a result we do not really have any ‘genuine savings’. We’re looking to borrow between $450,000 - $490,000. We have no other debts except a few thousand in credit cards. Are annual bonuses and a gifted deposit accepted as genuine savings? Is this acceptable to lenders?