Search found 60 matches

by alexjong
Sun Jun 01, 2014 11:01 am
Forum: Home Loan Forum
Topic: Do vets receive special home loan discounts?
Replies: 7
Views: 5755

Do vets receive special home loan discounts?

Hi brokers, I am a veterinarian and I have been working in the local hospital for the last few years. I am thinking about buying a house now and I would like to borrow around 85% to 90%. A couple of my friends were telling me that banks tend to favour applicants who are professionals and that they e...
by alexjong
Thu May 15, 2014 12:12 pm
Forum: Home Loan Forum
Topic: What can I do to raise my credit score?
Replies: 6
Views: 4999

Re: What can I do to raise my credit score?

Hey was reading through this post and saw you mentioning credit enquiries more than once. Actually I too was rejected by a bank before but it was for a car loan. I need to apply for loan again as I am planning to buy a $500,000 house soon but I’m not 100% sure about my credit history. Could you tell...
by alexjong
Sat Jan 25, 2014 12:58 pm
Forum: Home Loan Forum
Topic: What is on my credit file?
Replies: 7
Views: 5814

Re: What is on my credit file?

Oh this was more than 3 years so I think we should be good to go. More importantly we also want to learn how to apply for the FHOG and how to see if we were eligible or not. Will our occupations and salary matter for this? Just so you know, my wife is a hairstylist and earns about $50,000 a year whi...
by alexjong
Thu Jan 23, 2014 2:24 pm
Forum: Home Loan Forum
Topic: What is on my credit file?
Replies: 7
Views: 5814

What is on my credit file?

Hi My wife and I are planning to apply for a home loan in September and we have started budgeting our expenses for this from this year onward. We've heard a lot about how the banks will keep a history of our credit and transactions (I think it was a credit file) so we were wondering what kind of inf...
by alexjong
Fri Jan 17, 2014 10:20 am
Forum: Home Loan Forum
Topic: A few questions about low doc loans
Replies: 7
Views: 5877

Re: A few questions about low doc loans

Hi

I run my own bakery and have been doing well enough to think about buying a house. The business has been going on for about 18 months now and it’s doing much better than I had planned.

If I do apply for a low doc home loan what are the criteria if I want to submit my business’ bank statements?
by alexjong
Sat Nov 30, 2013 1:59 pm
Forum: Home Loan Forum
Topic: need financing to buy a hobby farm
Replies: 9
Views: 7659

Re: need financing to buy a hobby farm

Okay, thanks for the quick mortgage lesson Otto, we really appreciate it!
by alexjong
Fri Nov 29, 2013 4:26 pm
Forum: Home Loan Forum
Topic: need financing to buy a hobby farm
Replies: 9
Views: 7659

Re: need financing to buy a hobby farm

Hi again, I tried it out and your tips section mentioned that “If you are borrowing over 80% LVR, you may have to pay an LMI premium.”

I know that LVR is Loan to Value Ratio but what is LMI?
by alexjong
Fri Nov 29, 2013 11:16 am
Forum: Home Loan Forum
Topic: need financing to buy a hobby farm
Replies: 9
Views: 7659

Re: need financing to buy a hobby farm

Hi guys, ran across this thread while googling for hobby farm loans. Was going through your posts and you mentioned these postcode restrictions.

How do I know which areas/postcodes are okay to buy in?
by alexjong
Mon Nov 18, 2013 11:10 am
Forum: Home Loan Forum
Topic: No deposit but I need a home loan. Help!
Replies: 8
Views: 6853

Re: No deposit but I need a home loan. Help!

Oh that’s great I can work with that. Thanks for all the help!
by alexjong
Sun Nov 17, 2013 8:03 am
Forum: Home Loan Forum
Topic: No deposit but I need a home loan. Help!
Replies: 8
Views: 6853

Re: No deposit but I need a home loan. Help!

Oh yea I’ve been renting for more than one year at this current place. Is that valid then? And I do have some savings, is it possible that this is genuine?
by alexjong
Thu Nov 14, 2013 7:40 pm
Forum: Home Loan Forum
Topic: No deposit but I need a home loan. Help!
Replies: 8
Views: 6853

Re: No deposit but I need a home loan. Help!

I think I would need to borrow 100% if that’s possible. As far as I know guarantor loans are where my parents can put up their property for my home loan right? My parents have a nice big house and I’m pretty sure they’ve paid off their home loan too. Personally I wanted to buy a smaller house, proba...
by alexjong
Thu Nov 14, 2013 3:55 pm
Forum: Home Loan Forum
Topic: No deposit but I need a home loan. Help!
Replies: 8
Views: 6853

No deposit but I need a home loan. Help!

Help! I would like to buy a house but I do not have a deposit (I blame my lifestyle for this)!! I feel really stupid for not getting into real estate before and I don’t want to miss my chance again.
by alexjong
Tue Jul 23, 2013 7:02 pm
Forum: Home Loan Forum
Topic: How much should I borrow from the bank?
Replies: 8
Views: 6930

Re: How much should I borrow from the bank?

Hi guys, don’t mind me butting in here but I wanted to ask a slightly similar question. I was wondering how much deposit will the bank require me to show? And before you ask, I’m looking to buy a unit worth $600,000 and I’m working as a senior journalist for a daily newspaper and earning about $50,0...
by alexjong
Wed Jun 19, 2013 8:31 pm
Forum: Property Investment Forum
Topic: LMI fee for 95% loan too costly?
Replies: 11
Views: 17114

Re: LMI fee for 95% loan too costly?

Ah! I was in a bit of a hurry leaving the office so I missed these the first time. Thank you for the crash course!

I am pretty confident about my finances and my credit history, etc. but thanks anyway.

-Alex
by alexjong
Wed Jun 19, 2013 7:41 pm
Forum: Property Investment Forum
Topic: LMI fee for 95% loan too costly?
Replies: 11
Views: 17114

Re: LMI fee for 95% loan too costly?

Great! So you think I should go ahead with this? Please let me know quick, because it’s Wednesday already and I don’t want to have to wait forever just because the banks are closed on weekends. I understand that mortgage processing takes a while too – one time a friend was applying for a low doc loa...