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by Reilly
Tue May 28, 2019 1:02 pm
Forum: Home Loan Forum
Topic: How do I increase my chances at approval with a low deposit?
Replies: 5
Views: 984

Re: How do I increase my chances at approval with a low deposit?

I’m also trying to figure out how much funds we would need to complete the purchase? We’ll be receiving the stamp duty exemption for established properties. Can I borrow more to cover the extra costs of purchasing if needed?
by Reilly
Mon May 27, 2019 5:59 pm
Forum: Home Loan Forum
Topic: How do I increase my chances at approval with a low deposit?
Replies: 5
Views: 984

Re: How do I increase my chances at approval with a low deposit?

Thanks for clearing that up. As I understand it, we’ll be subject to LMI since we’re borrowing at a high LVR. How much will it be? Is there a way we can avoid LMI? If not, do I have to pay the LMI upfront at settlement?
by Reilly
Mon May 27, 2019 4:54 pm
Forum: Home Loan Forum
Topic: How do I increase my chances at approval with a low deposit?
Replies: 5
Views: 984

How do I increase my chances at approval with a low deposit?

We’ve been aggressively paying off our credit card balances and our car loan balance in preparation to buying our first home. The problem is we’ve only managed to save up around 5% or $28,000 for a deposit. We’ve never owned a property before, and are hoping to purchase a house in the $450,000 - $50...

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