Search found 34 matches

by G-Rob
Tue Jul 22, 2014 1:00 pm
Forum: Home Loan Forum
Topic: A shop owner needs a home loan
Replies: 7
Views: 10219

Re: A shop owner needs a home loan

The thing is I have only started running this shop for just a bit over a year. And as expected, I don’t have all the necessary financial details. What documents will I need to show in such case to be eligible for a home loan?
by G-Rob
Tue Jul 22, 2014 11:01 am
Forum: Home Loan Forum
Topic: A shop owner needs a home loan
Replies: 7
Views: 10219

A shop owner needs a home loan

Hi guys, I am planning on buying a house and moving out of the flat I currently share with my cousin. I was checking out some properties on the internet and I have found one which is worth $560,000. It is a two-bedroom house located in Ashcroft, south-west Sydney. I would need to borrow around $480,000 to complete the purchase. I own a well-known coffee shop in Sydney. So far, I have managed to earn a decent profit from this business.

So what are my chances of qualifying for a home loan?
by G-Rob
Fri Jun 13, 2014 1:44 pm
Forum: Home Loan Forum
Topic: Why does my job matter to the bank?
Replies: 7
Views: 8094

Re: Why does my job matter to the bank?

I guess there is some hope for me :) I’ll call you up in a few days to find out more about the lenders who will accept my income from the second job.
by G-Rob
Fri Jun 13, 2014 10:21 am
Forum: Home Loan Forum
Topic: Why does my job matter to the bank?
Replies: 7
Views: 8094

Re: Why does my job matter to the bank?

Help! I work as an elementary teacher during the day and in the evening I work at a restaurant. Will the bank accept both my incomes if I apply for a home loan?
by G-Rob
Mon May 12, 2014 3:57 pm
Forum: Home Loan Forum
Topic: Are home loan discounts available for vets?
Replies: 7
Views: 8623

Re: Are home loan discounts available for vets?

Okay, thanks so much for your answers, Otto. I really appreciate it. I will give you a call in a few days to see what my chances of approval are.
by G-Rob
Mon May 12, 2014 1:21 pm
Forum: Home Loan Forum
Topic: Are home loan discounts available for vets?
Replies: 7
Views: 8623

Re: Are home loan discounts available for vets?

Okay, that’s sound awesome. So is there any way of knowing how much interest rate discount I can receive on my home loan??
by G-Rob
Mon May 12, 2014 11:43 am
Forum: Home Loan Forum
Topic: Are home loan discounts available for vets?
Replies: 7
Views: 8623

Are home loan discounts available for vets?

Hi guys, I work as a veterinarian in a clinic and I am thinking about buying a house in a few months. I currently live in a rented house so having my own place would be nice. Is it possible for a medical professional like myself to be approved for a home loan? Can I even receive some discounts? Would appreciate your help with this.
by G-Rob
Fri Apr 18, 2014 11:45 am
Forum: Home Loan Forum
Topic: How to find out if I have genuine savings?
Replies: 7
Views: 9745

Re: How to find out if I have genuine savings?

Hi Otto, Can you explain me about the guarantor loan? How is it possible to borrow 100% with this type of loan?
by G-Rob
Tue Apr 08, 2014 4:17 am
Forum: Home Loan Forum
Topic: How to find out if I have genuine savings?
Replies: 7
Views: 9745

Re: How to find out if I have genuine savings?

Hi brokers,

Can I get a home loan without genuine savings? I wanted to buy a house soon but it looks I don’t have genuine savings. My income is all spent on paying rent and school fees of my children. We just moved to a new unit actually and it’s been less than 3 months.
by G-Rob
Wed Dec 04, 2013 4:37 pm
Forum: Home Loan Forum
Topic: How can I avoid paying LMI or reduce it?
Replies: 8
Views: 9891

Re: How can I avoid paying LMI or reduce it?

Thanks Otto, I will definitely give you guys a call when I am free this week.
by G-Rob
Wed Dec 04, 2013 11:09 am
Forum: Home Loan Forum
Topic: How can I avoid paying LMI or reduce it?
Replies: 8
Views: 9891

Re: How can I avoid paying LMI or reduce it?

Oh wow, but I’m just an administrative clerk and I think I will be borrowing about 87%. What do I do then?
by G-Rob
Tue Dec 03, 2013 6:21 pm
Forum: Home Loan Forum
Topic: How can I avoid paying LMI or reduce it?
Replies: 8
Views: 9891

How can I avoid paying LMI or reduce it?

Hey guys, I want to get the cheapest LMI that I can get or even not pay it. I’m asking because I know this is possible – it happened with my bother-in-law with his home loan 2 years ago.

I’m guessing that the policies haven’t changed since then or have they? Well please let me know what you guys know about this matter.

Cheers!
by G-Rob
Sun Oct 20, 2013 4:44 pm
Forum: Home Loan Forum
Topic: need help picking a good mortgage broker
Replies: 8
Views: 9914

Re: need help picking a good mortgage broker

Hey I will talk about this with the wife and see what she thinks. Sounds good to me but I’d still want to discuss it with her before I do anything.
by G-Rob
Sun Oct 20, 2013 9:17 am
Forum: Home Loan Forum
Topic: need help picking a good mortgage broker
Replies: 8
Views: 9914

Re: need help picking a good mortgage broker

Hi can I know more about your prepare to buy program? My wife and I would like to purchase a home by 2015 and are saving up for it. We both like to plan ahead especially which the rising cost of things. We also think that we might have to borrow more than $600,000 so I can imagine it will be harder to get approved for such a big amount!
by G-Rob
Thu Aug 22, 2013 1:27 pm
Forum: Home Loan Forum
Topic: Have genuine savings & looking for best home loan
Replies: 7
Views: 10056

Re: Have genuine savings & looking for best home loan

Hi Otto,

Thank you so much for the reply. From the results in Genuine Savings Calculator, our savings is considered as genuine savings. :)

You said that LMI fees are expensive? How can we know our LMI amount? What are the other property purchase costs we need to be aware of?