Search found 58 matches
- Wed Jul 03, 2013 7:12 pm
- Forum: Home Loan Forum
- Topic: Will I be able to avoid LMI?
- Replies: 9
- Views: 11532
Re: Will I be able to avoid LMI?
Hi, I’m a first home buyer too – I tried out the calculator above and it says I can get waived by one lender as well. Is there any way to get LMI waived by these other lenders?
- Fri Jun 14, 2013 8:55 pm
- Forum: Home Loan Forum
- Topic: Need a loan but don’t know how much construction may cost!
- Replies: 4
- Views: 7673
Re: Need a loan but don’t know how much construction may cos
We'll look at the pages you mentioned and think about it, thanks.
- Fri Jun 14, 2013 5:58 pm
- Forum: Home Loan Forum
- Topic: Need a loan but don’t know how much construction may cost!
- Replies: 4
- Views: 7673
Re: Need a loan but don’t know how much construction may cos
Hi
1. No we have not purchased the land – we need the loan to purchase it.
2. The land will be costing us $350,000.
3. No, we will be hiring a construction company for building the house.
4. We have about $250,000 in savings.
5. We want to use all of our savings ($250,000) and borrow the rest.
So what do you suggest?
1. No we have not purchased the land – we need the loan to purchase it.
2. The land will be costing us $350,000.
3. No, we will be hiring a construction company for building the house.
4. We have about $250,000 in savings.
5. We want to use all of our savings ($250,000) and borrow the rest.
So what do you suggest?
- Fri Jun 14, 2013 1:10 pm
- Forum: Home Loan Forum
- Topic: Need a loan but don’t know how much construction may cost!
- Replies: 4
- Views: 7673
Need a loan but don’t know how much construction may cost!
Hi, my wife and I are planning to build a house on a vacant land in Perth. The issue we are facing is that we have not been able to determine the cost of the construction but we are in a hurry to apply for the loan and buy it before someone else picks it up.
Is there anything we can do?
Is there anything we can do?
- Wed Apr 24, 2013 8:55 pm
- Forum: Home Loan Forum
- Topic: Studio apartment as security for low doc home loan?
- Replies: 4
- Views: 11016
Re: Studio apartment as security for low doc home loan?
Thanks, we will think about it and get back to you.
- Wed Apr 24, 2013 8:36 pm
- Forum: Home Loan Forum
- Topic: Studio apartment as security for low doc home loan?
- Replies: 4
- Views: 11016
Re: Studio apartment as security for low doc home loan?
Otto
The size of the apartment is 40 meter sq. and the house we wish to purchase is worth $920,000.
Btw, what does that LVR stand for?
The size of the apartment is 40 meter sq. and the house we wish to purchase is worth $920,000.
Btw, what does that LVR stand for?
- Wed Apr 24, 2013 7:49 pm
- Forum: Home Loan Forum
- Topic: Studio apartment as security for low doc home loan?
- Replies: 4
- Views: 11016
Studio apartment as security for low doc home loan?
Hello
I am a self-employed painter working out of a studio apartment in Queensland. Recently my partner and I have decided to move in together and we wish to take a loan from a bank to purchase a home (with me as the sole financer).
I must confess that I am not very knowledgeable about financing but I have come to understand that for a self-employed person such as me, it is easier to get approved for a low doc loan. It is my intention to use my current apartment as security against the loan.
I was hoping if you could inform me on how much money I could borrow based on my condition?
I am a self-employed painter working out of a studio apartment in Queensland. Recently my partner and I have decided to move in together and we wish to take a loan from a bank to purchase a home (with me as the sole financer).
I must confess that I am not very knowledgeable about financing but I have come to understand that for a self-employed person such as me, it is easier to get approved for a low doc loan. It is my intention to use my current apartment as security against the loan.
I was hoping if you could inform me on how much money I could borrow based on my condition?
- Wed Jan 02, 2013 7:56 am
- Forum: Home Loan Forum
- Topic: Should I Buy A Heritage Listed Property?
- Replies: 3
- Views: 6774
Re: Should I Buy A Heritage Listed Property?
Hi Otto,
Thank you for your information!
If I do not have a 20-30% deposit for the purchase would I be able to use the equity in one of my current properties? My properties are not unencumbered but there is a lot of equity in them, would this help me?
The heritage listed property I am interested in is asking 450k what kind of equity would I need to be able to complete the purchase?
Thank you for your information!
If I do not have a 20-30% deposit for the purchase would I be able to use the equity in one of my current properties? My properties are not unencumbered but there is a lot of equity in them, would this help me?
The heritage listed property I am interested in is asking 450k what kind of equity would I need to be able to complete the purchase?
- Wed Jan 02, 2013 6:51 am
- Forum: Home Loan Forum
- Topic: Should I Buy A Heritage Listed Property?
- Replies: 3
- Views: 6774
Should I Buy A Heritage Listed Property?
Hello there,
I have recently come across a heritage listed property that I am interested in purchasing. I own other properties and my finance isn't a problem.
I have never dealt with a heritage listed property before and would like to find out a bit more before committing to the purchase.
The property is in Sydney. The property is classed as heritage under cultural value.
What I would like to know:
Gleeson.
I have recently come across a heritage listed property that I am interested in purchasing. I own other properties and my finance isn't a problem.
I have never dealt with a heritage listed property before and would like to find out a bit more before committing to the purchase.
The property is in Sydney. The property is classed as heritage under cultural value.
What I would like to know:
- How much can I borrow?
- Is it more difficult to get this type of loan approved?
- What kind of restrictions are there in place for a heritage listed property?
- Is there any other information I need to know?
Gleeson.
- Tue Sep 20, 2011 10:55 am
- Forum: Property Investment Forum
- Topic: Borrowing 95% LVR for Investment Property
- Replies: 1
- Views: 7233
Borrowing 95% LVR for Investment Property
Dear HLE,
I'm a shift worker who has been renting now for about 4 years. I share a place with a friend and pay around $350 a week. But I'm realising that it may just be better for me to buy instead of staying on the rental market for the rest of my life.
Only thing is, i don't have enough savings to buy a property outright and my salary probably isn't enough to make the monthly repayments. So I was thinking of buying an investment property and renting it out so it can slowly pay some of itself off until I am in a better position and can afford the mortgage.
The place I am looking at is on the market for around $500,000 and I could probably get $30,000 from savings.
Will the banks still let me borrow to invest? Any answers would be real great.
I'm a shift worker who has been renting now for about 4 years. I share a place with a friend and pay around $350 a week. But I'm realising that it may just be better for me to buy instead of staying on the rental market for the rest of my life.
Only thing is, i don't have enough savings to buy a property outright and my salary probably isn't enough to make the monthly repayments. So I was thinking of buying an investment property and renting it out so it can slowly pay some of itself off until I am in a better position and can afford the mortgage.
The place I am looking at is on the market for around $500,000 and I could probably get $30,000 from savings.
Will the banks still let me borrow to invest? Any answers would be real great.
- Tue Apr 06, 2010 10:06 am
- Forum: Home Loan Forum
- Topic: LMI discount
- Replies: 1
- Views: 6837
LMI discount
my bank said i need to get LMI for my home loan, and it is going to cost me a few thousand dollars.. it wasn't part of my budget.. are there any lenders who would not need LMI, or offer LMI discount?
Cheers.
Cheers.
- Wed Jun 17, 2009 3:58 pm
- Forum: Home Loan Forum
- Topic: What is an offset account?
- Replies: 1
- Views: 12662
What is an offset account?
What exactly is an offset account? I was asked by the bank if i want one.
And which is better, a 100% offset account or a partial offset account?
And which is better, a 100% offset account or a partial offset account?
- Mon Jun 15, 2009 3:05 pm
- Forum: Home Loan Forum
- Topic: What does preapproval really mean?
- Replies: 1
- Views: 13138
What does preapproval really mean?
My family got was preapproved for a home loan, and were denied approval of our official loan application.