Self employed refinance
Posted: Mon Mar 15, 2010 11:17 pm
Hi everyone
My question is...
can the self employed get a traditional home loan
My husband and I Own 2 properties and we want to refinance our PPOR we owe $404000 and have exit fees of $12000..Our current homeloan provider didnt drop the interest rates when the rest of the banks were and so we are paying 11%(they didnt have a problem raising the interest rate when the rest of the banks are)
We originally had our property valued at $540000 but we have tried to refinance and due to the global economic crisis our property was valued at $470000. AS we are self employed the max LVR we could get was 80%
We have been selfemployed for about 3 or so years and have 2 good tax returns This year after expenses we earned about $110000 ....this includes depreciation on investment property and some creative accounting.
We have one main client and about 10 others
Can the self employed get 90% LVR
Thanks Heaps
Dee
My question is...
can the self employed get a traditional home loan
My husband and I Own 2 properties and we want to refinance our PPOR we owe $404000 and have exit fees of $12000..Our current homeloan provider didnt drop the interest rates when the rest of the banks were and so we are paying 11%(they didnt have a problem raising the interest rate when the rest of the banks are)
We originally had our property valued at $540000 but we have tried to refinance and due to the global economic crisis our property was valued at $470000. AS we are self employed the max LVR we could get was 80%
We have been selfemployed for about 3 or so years and have 2 good tax returns This year after expenses we earned about $110000 ....this includes depreciation on investment property and some creative accounting.
We have one main client and about 10 others
Can the self employed get 90% LVR
Thanks Heaps
Dee