Search found 7729 matches

by Otto Dargan
Thu Jan 07, 2010 7:30 am
Forum: Home Loan Forum
Topic: 100% Deposit
Replies: 3
Views: 6092

Re: 100% Deposit

If they have a property in Australia then no problem. If the property is in NZ then it cannot be done.
by Otto Dargan
Wed Jan 06, 2010 6:53 pm
Forum: Home Loan Forum
Topic: 100% Deposit
Replies: 3
Views: 6092

Re: 100% Deposit

The only way this is possible is with a guarantor loan. You would need to get what is known as a security guarantee.
by Otto Dargan
Wed Jan 06, 2010 3:15 pm
Forum: Home Loan Forum
Topic: qusetions about loans for multiple occupany properties
Replies: 1
Views: 5749

Re: qusetions about loans for multiple occupany properties

Yes financing company title & community title properties can be a little tricky. Unfortunately it is very difficult for me to say with any certainty exactly how much you could borrow for this type of property. Because this is a relatively unique type of property I would need to get the full details ...
by Otto Dargan
Tue Jan 05, 2010 9:49 am
Forum: Home Loan Forum
Topic: stratum loan
Replies: 1
Views: 4250

Re: stratum loan

This is quite a tricky situation as there is more than one credit issue to take into account. We need to find a lender that can accept: * Stratum title * Resort / hotel unit * Company name * Pensions loan scheme (if available) We would really need to know the full details of your situation before we...
by Otto Dargan
Mon Jan 04, 2010 7:14 am
Forum: Home Loan Forum
Topic: using equity to borrow to buy property and develop
Replies: 1
Views: 6129

Re: using equity to borrow to buy property and develop

Unfortunately banks are not looking very favourably at builders using a low doc loan to fund a project of their own. If you had full income evidence or were using another builder then they would likely have no problems with this. To do this as a low doc loan we would have to look at private finance ...
by Otto Dargan
Sun Jan 03, 2010 2:17 pm
Forum: Home Loan Forum
Topic: Medical BIlls
Replies: 1
Views: 4362

Re: Medical BIlls

If your credit file shows defaults of any type then this will be taken into account when you apply for a loan. Generally if you borrow over 80% of the property value then major lenders will not help you. If you borrow less than 80% then they may help you if you have a good explanation and the defaul...
by Otto Dargan
Wed Dec 23, 2009 12:01 pm
Forum: Home Loan Forum
Topic: Agency Employee Home Loan
Replies: 1
Views: 4182

Re: question

Hi Ruby, Yes if you are employed by an agency and your agency has a "host employer" that you then work for then we can accept this type of employment. Home loans for agency employees are assessed in the same way as contractors. We have a couple of lenders that could help for your situation, all of w...
by Otto Dargan
Sun Dec 20, 2009 1:11 pm
Forum: Home Loan Forum
Topic: Guarantor loan with debt consolidation
Replies: 1
Views: 4614

Re: Guarantor loan with debt consolidation

Hi, We may be able to help you borrow up to 110% of the purchase price using a guarantor mortgage . Since around 4% will go to paying stamp duty & conveyancing costs this leaves you 6% to reduce your debts. So maybe we can get rid of the most expensive debt and pay down one of the others as well. It...
by Otto Dargan
Thu Dec 17, 2009 8:23 am
Forum: Home Loan Forum
Topic: No Deposit home loan with Parental Guarantor
Replies: 3
Views: 6084

Re: No Deposit home loan with Parental Guarantor

You should qualify with a major lender with a discounted pro pack or basic loan rate around 6%. You will not have to pay a high rate with a specialist lender.

Thanks
by Otto Dargan
Thu Dec 17, 2009 7:05 am
Forum: Home Loan Forum
Topic: No Deposit home loan with Parental Guarantor
Replies: 3
Views: 6084

Re: No Deposit home loan with Parental Guarantor

This is a difficult situation because there is the combination of a guarantee from retirees , probation and moving cities. We have a lender that can accept all of these conditions and can lend >100% to help you pay for duty and consolidate debt. We'd have to get the full details of your situation, i...
by Otto Dargan
Wed Dec 16, 2009 7:41 am
Forum: Home Loan Forum
Topic: just moved over from NZ
Replies: 1
Views: 4297

Re: just moved over from NZ

Hi Jacque, Yes this is possible. For your situation the "credit issues" (problems from a lenders point of view) are: * Short term employment (possibly also on probation?) * Short term residency * No credit history in Australia * No genuine savings * 90% loan required (required LMI approval) Despite ...
by Otto Dargan
Tue Dec 15, 2009 8:20 pm
Forum: Home Loan Forum
Topic: Calculating LMI
Replies: 2
Views: 5989

Re: Calculating LMI

You can calculate LMI using our LMI calcualtor or our LMI rates page. Lenders don't give you much info on how they do their math, so a good mortgage broker is very well placed to help you compare premiums. Generally if you do not have at least a 20% deposit then you will need to pay an LMI premium. ...
by Otto Dargan
Mon Dec 14, 2009 4:28 pm
Forum: Home Loan Forum
Topic: Selling a home and buying another
Replies: 3
Views: 5668

Re: What are our chances?

I am surprised about CBA, they can refinance at 95% LVR and can do the purchase at 95%. They will only do this if your history with them (bank accounts, PL payments etc) is absolutely flawless. Yes the best option is to get a pre-approval for a purchase subject to you selling your current home. If y...
by Otto Dargan
Mon Dec 14, 2009 4:21 pm
Forum: Home Loan Forum
Topic: Comparing Lenders Mortgage Insurance - Australia
Replies: 1
Views: 4447

Re: Comparing Lenders Mortgage Insurance - Australia

Hi Michael, Banks are well aware that customers almost NEVER compare the LMI premium between different banks. This is because banks don't publish their LMI rates, and customers rarely even know which Insurer the bank is using for their loan. I would say that for many people they can easily save more...
by Otto Dargan
Mon Dec 14, 2009 3:32 pm
Forum: Home Loan Forum
Topic: Selling a home and buying another
Replies: 3
Views: 5668

Re: What are our chances?

Hi Jacki, Thanks for joining our forum. If you sell the current property then you would likely have an excellent chance of approval. The problem as I see it is that you may not sell your home in the required timeframe, which would leave you short for the new purchase. To reduce your risk I would rec...

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