Search found 60 matches

by alexjong
Wed Jun 19, 2013 7:26 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?

Hey I tried the calculator and the lowest fee is $31,521.

I got a bit confused about the headings “Final loan” and “Funds available” – I think this is related to LMI capitalisation?

-Alex
by alexjong
Wed Jun 19, 2013 1:13 pm
Forum: Property Investment Forum
Topic: LMI fee for 95% loan too costly?
Replies: 11
Views: 17114

LMI fee for 95% loan too costly?

I'm looking to purchase an investment property out in Victoria for the purpose of dividing it and selling part of it again. The property is worth about $840,000 and I hope to get a 95% home loan. I haven’t gone through with the loan application because I’m worried about the LMI fees – I understand t...
by alexjong
Mon Feb 04, 2013 11:34 am
Forum: Home Loan Forum
Topic: How much of a deposit do I need?
Replies: 4
Views: 6712

Re: How much of a deposit do I need?

Hi Otto,

Thank you for all your information.

You have been a great help.

Alex
by alexjong
Mon Feb 04, 2013 9:37 am
Forum: Home Loan Forum
Topic: How much of a deposit do I need?
Replies: 4
Views: 6712

Re: How much of a deposit do I need?

Hi Otto,

Unfortunately I am unable to obtain a guarantor as my mother does not have enough equity in her property.

So at the moment the main thing holding me back is my deposit size right?

Over all how much of a deposit do you think I will require. (In a dollar figure).
by alexjong
Mon Feb 04, 2013 8:44 am
Forum: Home Loan Forum
Topic: How much of a deposit do I need?
Replies: 4
Views: 6712

How much of a deposit do I need?

Hi there, I have recently found a couple of properties I would be interested in buying. The properties are around the 290k - 305k price range. The properties are located in the surrounding suburbs of the Gold Coast QLD. I am single with no children, so I am only looking at one or two bedroom apartme...
by alexjong
Thu Jan 03, 2013 10:01 am
Forum: Home Loan Forum
Topic: Can I Get A Loan On Commission Income?
Replies: 1
Views: 3802

Can I Get A Loan On Commission Income?

Hey, My name is Alex. I am interested in buying my first home because I am sick of renting. I work as a car salesman in Melbourne. I have been with my current company for 7 years. I am unsure if I will qualify for a loan as my income is almost commission only. I receive $200 a week as a base income ...
by alexjong
Wed Jan 02, 2013 1:42 pm
Forum: Home Loan Forum
Topic: Looking for a family guarantee home loan
Replies: 1
Views: 4239

Looking for a family guarantee home loan

Hi Home Loan Experts My name is Alex and I am looking for a home loan. I heard that it is possible to borrow the full purchase price amount if you can get a parental guarantee . How do they work? If my parents are going guarantor do they have to put their own property up as security? How long will t...
by alexjong
Fri Dec 21, 2012 12:24 pm
Forum: Home Loan Forum
Topic: Part IX Debt Agreement Loan
Replies: 1
Views: 4876

Part IX Debt Agreement Loan

Hello, I am seeking some advice on how to go about getting a part IX debt agreement and the affect the part IX will have on potentially getting a home loan in the future. I am currently trying to save a deposit to purchase my first home. I lost my job late last year and was hard pressed to make repa...
by alexjong
Fri Dec 07, 2012 4:39 pm
Forum: Property Investment Forum
Topic: Can I Buy A House In Australia On A 457 Visa?
Replies: 6
Views: 55055

Re: Can I Buy A House In Australia On A 457 Visa?

Hey, Thank you for getting back to me. The pages you have linked were very useful in answering some of the questions I had. Your information was a great help as well. I have 70k AU savings from a sale of the house I had in Germany before I moved to Australia. I am looking to buy a property in the Sy...
by alexjong
Fri Dec 07, 2012 3:01 pm
Forum: Property Investment Forum
Topic: Can I Buy A House In Australia On A 457 Visa?
Replies: 6
Views: 55055

Can I Buy A House In Australia On A 457 Visa?

Hey there, My name is Alex and I am currently living and working in Australia on a 457 Work Visa. I am employed as a Heavy Vehicle Mechanic. I am two years into my 4 year 457 visa and have applied for Permanent Residency in Australia. I am single and currently renting a house through a real estate a...
by alexjong
Thu Nov 22, 2012 12:38 pm
Forum: Home Loan Forum
Topic: Sister buying half of my house
Replies: 3
Views: 9319

Re: Sister buying half of my house

Thanks for the info mate.

So what would it cost /week to refinance our outstanding $380,000 loan, into a principal + interest loan over 25 years, if we decide to keep the house ourselves and rent it out?
by alexjong
Thu Nov 22, 2012 11:34 am
Forum: Home Loan Forum
Topic: Sister buying half of my house
Replies: 3
Views: 9319

Sister buying half of my house

Hi Otto, I believe on the 14/05/2013 my interest free portion of my current home loan is up. I have been trying to sell my property, but have over capitalised, and with the current market, I don't believe I will be able to sell. So I have been exploring other options. I have been talking to one of m...
by alexjong
Wed Jun 22, 2011 3:08 pm
Forum: Home Loan Forum
Topic: First Home With No Genuine Savings
Replies: 1
Views: 3584

First Home With No Genuine Savings

Hi, I've currently got a slight problem. I've approached St George for a Home Loan package, and I've received verbal approval for an 80% loan of $423000. I've got an appointment this afternoon to finalise it. I'm now hoping to be able to get a 90% home loan of $470000 instead. But I have no genuine ...
by alexjong
Wed Jun 17, 2009 5:29 pm
Forum: Home Loan Forum
Topic: Fixed rate loans
Replies: 4
Views: 11437

Re: Fixed rate loans

Hi All,

What the pros and cons are of fixing, or even splitting?
by alexjong
Wed Jun 17, 2009 5:25 pm
Forum: Home Loan Forum
Topic: Low doc questions...
Replies: 1
Views: 7404

Low doc questions...

Are low doc loans gone? My bank needs BAS statements to get a low doc loan for me which kind of defeats the purpose doesn't it?