Search found 3 matches

by
Wed Jun 05, 2019 11:52 am
Forum: Home Loan Forum
Topic: Which lenders provide no LMI 95% LVR investment loans for dentists?
Replies: 5
Views: 11092

Re: Which lenders provide no LMI 95% LVR investment loans for dentists?

That’s good to know. How about interest-only periods. As a doctor, can I get an interest only no LMI home loan?
I’ve been hearing some lenders are re-entering 10-year interest only market. Is this an option for me?
by
Tue Jun 04, 2019 6:54 pm
Forum: Home Loan Forum
Topic: Which lenders provide no LMI 95% LVR investment loans for dentists?
Replies: 5
Views: 11092

Re: Which lenders provide no LMI 95% LVR investment loans for dentists?

I understand, unless lenders assess my income using my current year’s annualised income of $240,000, I may not be able to borrow the amount I need. My PPR has a mortgage balance of $590,000, similar properties in the area sell for $720,000 approx. I also have a couple of credit cards with a credit limit of $5,000 in total. I was told I’ll be borrowing to my limit. Do I meet the serviceability required to borrow $940,000 plus costs to complete?
by
Tue Jun 04, 2019 4:22 pm
Forum: Home Loan Forum
Topic: Which lenders provide no LMI 95% LVR investment loans for dentists?
Replies: 5
Views: 11092

Which lenders provide no LMI 95% LVR investment loans for dentists?

Hi, I’ve been working with the same dental practice for the last 10 years, but it was only 8 months ago that I was made a partner (20% ownership). My personal taxable income last year was $110,800 and this year’s annualised taxable income is estimated to be around $240,000. When I went to my bank Westpac, the max they could offer me was 90% LVR waived LMI mortgage. I’m looking at borrowing close to 95%($950,000) including the costs to complete the purchase with no LMI. Is this possible? Which lenders offer no LMI 95% LVR investment loans with minimal income documents?