Search found 3 matches

by Rosie M
Wed May 22, 2019 6:29 pm
Forum: Home Loan Forum
Topic: Do lenders use their valuation or the purchase price to determine the LVR?
Replies: 5
Views: 1226

Re: Do lenders use their valuation or the purchase price to determine the LVR?

Let’s say, the valuation came at $600,000, and I’ve been approved for a $540,000 mortgage. What will be my fortnightly repayment?
by Rosie M
Wed May 22, 2019 5:11 pm
Forum: Home Loan Forum
Topic: Do lenders use their valuation or the purchase price to determine the LVR?
Replies: 5
Views: 1226

Re: Do lenders use their valuation or the purchase price to determine the LVR?

I was hoping they would use the higher figure so I can bring my LVR down to 80% so as to avoid the mortgage insurance altogether. I’m getting my documents and finances in order in preparation for the settlement date. When is a good time to apply for a mortgage?
by Rosie M
Wed May 22, 2019 3:01 pm
Forum: Home Loan Forum
Topic: Do lenders use their valuation or the purchase price to determine the LVR?
Replies: 5
Views: 1226

Do lenders use their valuation or the purchase price to determine the LVR?

Hi, fourteen months ago I signed a contract and put up a 10% deposit on a 2 bedroom apartment being developed by a reputable developer. The contract price is $603,000, however, I’m estimating the market price of the property to be in the $680,000+ range. The unit is due to settle in late July or ear...

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